Studio Players Inc.

“Studio Players Articles of incorporation call for 11 members of a board of Trustees consisting 5 Officers: President; Past President; President Elect; Secretary; and Treasurer; plus six Trustees. Officers serve one year terms although the Secretary and Treasurer may be elected to subsequent one-year terms. Trustees serve staggered three-year terms and may serve one more consecutive term. They may serve as Trustees again after having been out of office for a year after a six year term. Because of issues related to Covid 19 closure one of the Trustee positions remained unfilled for the 2021-2022 tax year. There is an advisory board consisting of individuals who participate in board meetings but do not have a vote in board decisions. Often these are persons who are active volunteers at Studio but may prefer not to be on the board. Studio Players Articles of Incorporation require approval of trustees and officers by the Members of Studio Players. These individuals pay a $10 membership fee for which they receive a free ticket to a Studio Players show and also attend the annual meeting of the organization where they formally approve board trustees and officers. Many members have been associated with Studio Players for over twenty years and sometimes will volunteer as ushers or assist with costumes or set painting decoration. Many also have been Season Ticket holders and donors to Studio Players. The Articles of Incorporation intended to establish Studio Players as a community theatre not only to provide entertainment to the local area but also to create a "communuity" of supporters who would become part of a larger Studio Players family. Perhaps this is why Studio has been able to last for nearly 70 years.”

“The organization's Articles of Incorporation require that the dues-paying members at their annual meeting vote to elect officers and trustees of the corporation. Member votes also would be required in the event of the termination of the corporation. Officers and directors names are presented to the members for their approval but nominations from the floor are also requested. . Instead members were asked to approve the nominations electronically via email. After a one-year hiatus due to the Covid pandemic we were able to convene our annual meeting in 2022.”

“The board is notified Form 990 has been prepared and is available for review. Information regarding a lot of the information in the 990 form also is provided throughout the year in the treasurer's monthly financial report. The board's monthly meeting often occurs after the return has been prepared however and arrangements can be made to meet in those situations. Members of the public are welcome to review the completed form upon request by contacting the corporation's Treasurer through Studio Players web site or by calling the Treasurer.”

“Members of the public are welcome to review the form upon request by making contact through Studio Players web site or by directly calling the organization' s Treasurer.”

“Because of Studio Player's 70-year existence as Lexington's community theatre the board attempts to make sure the community receives information regarding the organization. We use direct email to send a monthly newsletter to interested parties as well as a Facebook page and website the get the word out about not just our shows but also members of our theatre community. Typically if someone has a concern regarding a matter at the theatre a board member will call and if necessary meet with that individual to address the concern. Also we have a list of policies that is given to every board member and every volunteer involved in Studio Players activities particularly as it relates to behavior and our expectations of how these individuals present themselves to our larger community.”

“| Explanation:| Studio Players is a non profit organization relying heavily on volunteers to operate the business. The theatre is open only on those dates when one of our 6 shows is underway The officers and board members devote a significant amount of time overseeing the operation of the theatre. This often includes actually being involved with a show if not acting on stage providing time to paint clean pay bills work with other volunteers and generally making the theatre a going concern. A lot of our shows are directed by individuals not serving as board members. There are certain tasks requiring significant amount of time and expertise for which Studio Players pays a small stipend. The highest stipend goes to the director $700 who is with the volunteer cast members over a 3 -4 week period conducting rehearsals. The board has agreed that officers and trustees when involved with a show may receive a stipend at the same rate aw would be paid to any person not a member of the board. Those individuals receiving stipends in excess of $600 are provided with 1099 forms in include with their tax returns.”

“| Explanation:| During May 2021 Studio Players installed a new charge card processing machine. While the machine would give receipts it was not sending data on to the card processor. Typically the processor reports charges in subsequent months a time when we were not processing our charge cards due to our not having a show going on. The charge card error was corrected immediately upon our recognition of the problem. We are now showing the income in Part VII although it was from a prior year.”

“Form 990 Part III page 2: Box at top of page does not need to be checked Schedule 0 One of 2 comments regarding Part and Line Number: Part 8 -General that begins with the words "During May 2012..." should be entitled "Part and Line Number: VIII Line 2ab A" Schedule O The other of the 2 comments regarding Part and Line Number Part 8 General that begins with the words "Because of Studio Players 70-year existence..." should be entitled "Part and Line Number: VII Lines 1 - 10" Schedule A is incomplete and needs correction”