Artstor Inc

“ARTSTOR INC. IS A NONPROFIT ORGANIZATION ORIGINALLY FORMED IN 2002 AS A SUPPORTING ORGANIZATION OF JSTOR. JSTOR WAS SUBSEQUENTLY RENAMED TO BE KNOWN AS ITHAKA HARBORS, INC. UNDER A 2007 IRS NOTIFICATION, ARTSTOR WAS DETERMINED TO BE TREATED AS A PUBLIC CHARITY INDEPENDENT FROM ITHAKA HARBORS, INC. IN JANUARY 2016, ARTSTOR AMENDED and RESTATED ITS CERTIFICATE OF INCORPORATION AND BYLAWS TO INCLUDE A MEMBERSHIP PROVISION WHEREBY ITHAKA HARBORS, INC. IS THE SOLE CORPORATE MEMBER OF ARTSTOR. ACCORDINGLY, ARTSTOR IS A WHOLLY-CONTROLLED ENTITY OF ITHAKA HARBORS, INC. ARTSTOR IS TO REMAIN A PUBLIC CHARITY UNDER THE INTERNAL REVENUE CODE, WITH MANAGEMENT AND FINANCIAL RESPONSIBILITIES ASSUMED BY ITHAKA HARBORS, INC. AS WELL AS THE AUTHORITY TO APPOINT THE BOARD OF TRUSTEES AND OFFICERS OF ARTSTOR. ADDITIONALLY, IN ACCORDANCE WITH THE MEMORANDUM OF UNDERSTANDING ("MOU") DATED OCTOBER 21, 2015 BETWEEN ARTSTOR AND ITHAKA HARBORS, INC., A TERMINATION OF KEY STAFFING POSITIONS HAD ALSO BEEN EXECUTED DURING 2016, WITH SERVERANCE PAYMENTS THAT WERE PAID DURING 2016. (SEE SCHEDULE J). ARTSTOR'S EXISTING PRODUCTS AND SERVICES CONTINUE TO BE MADE AVAILABLE TO BOTH CURRENT AND NEW SUBSCRIBERS. AS PART OF THE TRANSITION, ITHAKA HARBORS, INC. AGREED TO DEVELOP AND STRENGTHEN THE OPERATIONS AND PROGRAMMING OF ARSTOR, TO SUPPORT THE COMMUNITIES THAT ARTSTOR SERVICES, AND, DURING THE TERM OF THE MOU, TO CONTINUE TO OFFER THE ARTSTOR DIGITAL LIBRARY IN ITS PRESENT OR ENHANCED FORM. DURING 2016, ARTSTOR RECOGNIZED AN UNRESTRICTED GRANT OF $2,385,000 FROM ITHAKA HARBORS, INC. TO HELP WITH THIS TRANSITION (SEE SCHEDULE B). FINALLY, AS ASSURANCE THAT IT WILL SUSTAIN ARTSTOR AND ARTSTOR'S SERVICES, ITHATKA HARBORS, INC. AGREED TO UNDERWRITE THE BUDGETED EXPENSES DURING 2016. SUBSEQUENT TO 2016 AND EFFECTIVE JANUARY 1, 2017, ALL EMPLOYEES OF ARTSTOR WERE TRANSITIONED TO ITHAKA HARBORS, INC.”

“Review process: the form 990 is reviewed by the audit committee and it approves release to the entire board for an opportunity to review prior to electronic filing of the form.”

“Conflict of interest policy: artstor's conflict of interest policy applies to its governing board, corporate officers, key employees and to certain staff members. All persons are required to disclose all conflicts of interest promptly and annually via a written disclosure process. The governing board's audit committee is charged with reviewing conflict of interest disclosures and associated policies and procedures; in each case a determination is made and documented.”

“Compensation policy: the compensation committee of the board of trustees conducts an annual review of officer and non-officer compensation. As part of this review, the committee references available market data for comparable positions and internal equity considerations, and it utilizes an analysis of officer and non-officer salaries prepared by independent external sources using industry benchmarking data. The annual review process covers all officers and other staff. Compensation decisions for officers are proposed by the compensation committee, then reviewed and approved by the full board of trustees. Compensation decisions for non-officer employees are approved by the compensation committee.”

“Documents available for public inspection: artstor's form 990 and annual financial statements are available upon request.”

“Each member of the board of directors is entitled to a stipend for services provided as a member of the governing body of ithaka, a related organization to artstor. No payments, with the exception of amounts paid to the president of artstor, exceeded the reporting threshold of $7,500 from the related organization; accordingly these board members are deemed independent for reporting purposes on form 990, part 1, line 4 and part vi, section a, line 1b.”

“Catharine bond hill served as a trustee through september 9, 2016 of artstor, at which time she resigned her position on the board of trustees and accepted a full-time position with ithaka harbors, inc. As the managing director of ithaka s+r. She received $2,500 in compensation for her services as a board member and $101,311 through december 31, 2016 as an employee.”

“Description:program and other consultants total fees:1678363”

“Description:benefits management total fees:60062”

“Description:recruitment total fees:3280”

“Description:employee training/development total fees:18602”

“Description:employee charges from ithaka total fees:203720”