South Bend Symphony Orchestra Association Inc.

“Board members Kitty Rose and Kyle Everett have a family relationship.”

“The entire return except for Schedule B was provided to the entire Board prior to the February 2017 Board meeting. The return was discussed at that meeting and was approved for filing. The policy of redacting Schedule B from Board review was adopted because many Board members are donors and because all donors have an expectation of confidentiality regarding their donations.”

“Annually all Directors and officers must sign a conflict of interest statement. Directors and officers have a duty to disclose any actual or potential conflict of interest to the Board, and the Board determines if conflict exists without the presence of the individual involved. The Board makes the detemination about whether the proposed transaction is the most advantageous to the Organization based on discussion and vote without the interested party being present. Any Director or officer found to have violated the policy is subject to appropriate disciplinary and corrective action.”

“The compensation of the top management official is recommended by the independent Finance Committee and approved by the independent Board of Directors, taken into account comparability data. This was last done in 2015.”

“The compensation of other officers is recommended by the independent Finance Committee and approved by the independent Board of Directors, taking into account comparability data. This was last done in 2015.”

“The Organization provides its governing documents, its conflict of interst policy, and its financial statements to members of the public upon request.”

“Line 8. Prior period adjustments of $2,181,972 represent corrections of errors for not recording the beneficial interest in a perpetual trust of $2,141,689; reporting as a contribution a conditional promise to give of $(25,000); recording temporarily restricted net assets as deferred revenues of $48,109; and overstating accrued vacation pay by $17,174.”

“Line 9. Change in value of beneficial interests in assets held in trust and by the Community Foundation of $(512,642).”

“Music and equipment 16542. 16542. 0. 0.”

“Educational programs 9440. 9440. 0. 0.”

“Bank fees 13315. 0. 13315. 0.”

“Other 39695. 0. 15356. 24339.”

“Licenses and rights 4990. 4990. 0. 0.”

“Box office 3271. 0. 3271. 0.”

“Equipment cartage 3829. 3829. 0. 0.”

“Dues and subscriptions 4432. 0. 4432. 0.”

“Repairs and maintenance 2400. 0. 2400. 0.”

“Recruitment 8299. 0. 8299. 0.”