Artstor Inc

“ORGANIZATIONAL HISTORY: 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. Ithaka Harbors, Inc. haS the full power and authority to manage the administrative and financial operations of Artstor as well as the authority to appoint the Board of Trustees and officers of Artstor. STRATEGIC ALLIANCE: As part of the transition, Ithaka Harbors, Inc. further agreed to develop and strengthen the operations and programming of Artstor, to support the communities that Artstor serves, and to continue to offer the Artstor Digital Library in its present or enhanced form. Ithaka Harbors, Inc. immediately assumed financial responsibility for Artstor's operations. Artstor continues to remain its own legal entity; HOWEVER, In order to provide a more integrated approach to support the activities of Artstor, effective January 1, 2017 (i) all employees of Artstor were transitioned to Ithaka Harbors, Inc., (ii) the Artstor Retirement Plan was merged with the ITHAKA 403(b) Retirement Plan, and (iii) the Section 457(b) deferred-compensation plan for eligible employees was subsumed by Ithaka Harbors, Inc. The direct costs of providing program services, consisting primarily of payroll and related benefits, are allocated and reported in the financial statements as well as Part IX of this Form 990. Indirect costs, consisting of management and general expenses, are similarly treated for reporting purposes.”

“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 complies with the conflict of interest policy of ithaka harbors, inc. As it 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 of ithaka harbors, inc. 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. Artstor does not make any other governing documents available.”

“Each member of the board of directors is entitled to a stipend for services provided as a member of the governing body of ithaka harbors, inc. No payments, with the exception of amounts paid to the president of artstor, exceeded the reporting threshold of $10,000 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.”

“Prior to the year ended december 31, 2017, artstor had incurred several years of excess operating expenses over revenue and public support, thereby generating a deficit in unrestricted net assets. As described in the organizational history and strategic alliance note above, artstor has developed a financial strategy with ithaka harbors, inc. And continues to improve its financial circumstances.”

“Other changes in net assets represents a $17,840 write-off of uncollectible fees receivables.”

“Description:consultants - software develop total fees:1537520”

“Description:consultants - other total fees:82034”