David C Cook

“The form 990 is prepared by a third party preparer. An internal review of the 990 is completed by the coo and accounting management. The 990 is then sent to the finance & audit committee for review which also includes a meeting with the auditing firm to present the 990 and address any questions. Upon approval from the finance & audit committee and before filing with the irs, the 990 and associated schedules are provided to the full board of trustees on the internet site which notifies them via an email that forms are available for their review.”

“Each january, the assistant secretary to the board distributes conflict of interest forms to each board member and executive. Completed forms are then submitted to the assistant secretary to the board who monitors and discloses to the board if any changes occur. Board members are restricted from voting on issues where conflicts have been identified.”

“Process for determining executive, officer, and key employee compensation every three years, the organization and the board of trustees retains an independent global professional firm to review and provide feedback on compensation. Their report includes comparable market compensation data of similarly qualified persons in functionally comparable positions at similarly situated organizations. The most recent report was presented and reviewed by the board in november 2013. Human resources keeps written records of all compensations arrangements as well as all documentation related to the outside compensation studies.”

“The organization's governing documents, conflict of interest policy, and financial statements are made available upon request.”

“Lender: bank of america original amount: $25,000,000 interest rate: 2.780000 date of note: 06/30/2011 maturity date: 06/30/2019 repayment term: annual principal & monthly interest payments security provided: all business assets purpose of loan: acquisition of integrity music, inc. Beginning balance due.............$21,428,571 ending balance due................$17,857,142 total beginning mortgages and other notes payable $21,428,571 total ending mortgages and other notes payable $17,857,142”

“Borrower: david c cook distribution canada ltd. Original amount: $1,067,253 interest rate: 7.000000 date of note: 06/30/2008 maturity date: 04/30/2023 repayment terms: paid in monthly installments of principal and int. Beginning balance due...............$795,738 ending balance due..................$0 total beginning notes and loans receivable $795,738 total ending notes and loans receivable $0 the loan was refinanced through another institution during the year.”

“Foreign currency exchange adjustment -101,355. Actuarial change in pension benefits -844,174. Interledger transfer 1,322,038.”