Namm Foundation a Not-For-Profit Corporation

“As the Foundation supports and shares board members with NAMM, a tax-exempt organization with an exempt mission of strengthening the music products industry and promoting the pleasure and benefit of making music. The Foundations board of directors is comprised of individuals associated with the music products industry. As the Foundation's board of directors are associated with the music products industry, officers and directors may do business transactions with each other in the normal course of business. These are normal transactions that may occur between a supplier and a customer. An example of this is a retailer buying musical instruments from a manufacturer of musical instruments. The retailer buys musical instruments from many manufacturers. A board member may be a retailer and another board member may be a manufacturer.”

“Reviewed by the Board of Directors or Executive committee. A copy of the 990 is sent to the Board and Executive Committee via NAMM's website prior to submission to the IRS. A draft of the 990 is also reviewed with the Foundation's legal counsel and all recommendended changes are considered prior to submission.”

“The Organization monitors any potential conflict of interest by circulating a disclosure questionnaire annually to its Board of Directors, officers and key employees. If a conflict is found, it is resolved so that ultimately the conflict is removed.”

“The Foundation does not provide direct compensation to any officer or director.”

“The NAMM Foundation complies with the public inspection requirements of Internal Revenue Code section 6104 by making it's form 1023, Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, determination letter from the IRS, and the Forms 990 for its three most recently completed tax periods available to the public. However, as section 6104 does not require organizations exempt under 501(c)(3) to disclose their governing documents, conflict of interest policies, or financial statements, the NAMM Foundation does not make such information available for public inspection.”

“Client Note 1 - Schedule A, Line 13Name of Supported OrganizationNational Association of Music Merchants, Inc. (An organizationdescribed in Sec. 501(c)(6) that would be a line 12 organization,above, if it were a charitable organization described in Sec.501(c)(3).”

“OTHER PROGRAM SERVICES 4: Museum of Making Music - Provide exhibits to the public showing the history of music products and benefits of music making.”