Park Square Theatre Company

“The executive committee consists of the officers of the board and the immediate past president of the board. The executive committee is at all times subject to the control and direction of the entire board. The executive committee advises the president as to the appointment of committee chairs and members. The executive committee has the authority to act in the name of the board between regularly scheduled meetings of the board, except that the executive committee does not have authority to elect directors or officers, or act with respect to any matters specifically reserved for action by the entire board.”

“The form 990 is prepared by the organization's public accounting firm based on information provided by management. Once the draft return is reviewed by management and changes incorporated into the filing, the return is then provided to the board of directors prior to filing.”

“The theatre's conflict of interest policy covers officers, directors, and employees who may influence the decisions of the organization. The board (or committee thereof) shall determine whether a conflict exists and in the case of an existing conflict, whether the contemplated transaction may be authorized as just, fair, and reasonable to park square theatre. The decision of the board (or committee thereof) on these matters will rest in their sole discretion, and their concern must be the welfare of park square theatre and the advancement of its purpose. Individuals with conflicts of interest may not participate in the discussion or approval of the transaction. Proceedings are documented in the meeting minutes.”

“The board issued its first employment contract for the executive director, which established baseline compensation and benefits. Compensation for the artistic director was set in the budgeting process to equal that of the executive director. The full board reviews and approves compensation through the budget recommended by the finance committee. The process for approving the budget including compensation changes is documented in the meeting minutes and budget documents. The process to perform a thorough review of the compensation for the executive director and artistic director was last undertaken for each position in the spring of 2018.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Production services: program service expenses 231,185. Management and general expenses 0. Fundraising expenses 0. Total expenses 231,185. Marketing services: program service expenses 0. Management and general expenses 297,565. Fundraising expenses 0. Total expenses 297,565. Education services: program service expenses 91,965. Management and general expenses 0. Fundraising expenses 0. Total expenses 91,965. Administrative services: program service expenses 0. Management and general expenses 25,519. Fundraising expenses 9,900. Total expenses 35,419.”