Sag-Aftra & Industry Sound Recordings

“Trustees janice pendarvis and duncan crabtree-ireland have a business relationship through sag-aftra national.”

“There are no other committees with authority to act on behalf of the fund.”

“The form 990 is prepared by an independent cpa firm. A draft of the form 990 is sent to the controller for review and approval. Once approved, the return is filed with the irs. A copy of the form 990 is distributed to the full board of trustees and legal co-counsel of the fund after filing.”

“The fund's conflict of interest policy authorizes an annual review of the administration of the policy, and trustees are periodically asked to disclose interests or relationships that could give rise to a conflict of interest.”

“The fund will make available copies of their governing documents and financial statements upon request and review by the board.”

“This fund is established for the purpose of receiving and distributing sag-aftra sound recordings code digital exploitation payments and license payments in accordance with the sag-aftra sound recordings code and to provide the means for financing the operation and administration of the trust fund. As the difficulties in administering and distributing sag-aftra sound recordings code digital exploitation payments and license payments represent a problem of mutual concern to performers and recording companies that is not susceptible to resolution within the collective bargaining process. This trust fund shall be governed by a board of trustees, which shall constitute a labor management committee within the meaning of the labor management cooperation act of 1978, and the labor management relations act of 1947, as amended.”

“The union trustees and union alternate trustee shall be appointed by sag-aftra. The industry trustees and industry alternate trustee shall be appointed by the industry settlors, which comprise those recording companies and their successors in interest covered under the operating trust. Any trustee or alternate trustee may be removed by sag-aftra or industry settlors at any time, without cause.”

“The financial statements have been prepared on the modified cash basis of accounting; a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America. Revenue and related assets are recognized when cash is received rather than when earned, and expenses are recognized when paid rather than when the obligations are incurred, except for amounts due to the American Federation of Musicians (AFM) & SAG-AFTRA Intellectual Property Rights Distribution Fund (IPRDF) and distributions payable.”