Civic Intelligence

Screen Actors Guild-American Federation of Television and Radio Artists

990 • Fiscal year 2017 • EIN 45-4931719

May 01, 2016 to Apr 30, 2017 • Filed on Mar 15, 2018

5757 Wilshire Boulevard 7th FloorLos Angeles, CA 90036

(323) 549-6689

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

77th percentile

0.78x

Higher debt load relative to assets than 77% of similar nonprofits.

2017 filings • $250M-$1B nonprofits • Source year 2017

Liabilities / Revenue

78th percentile

1.96x

Higher debt load relative to revenue than 78% of similar nonprofits.

2017 filings • $250M-$1B nonprofits • Source year 2017

Net Margin

68th percentile

12%

Higher net margin than 68% of similar nonprofits.

2017 filings • $250M-$1B nonprofits • Source year 2017

Top Officer Pay

61st percentile

$841,186

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

2017 filings • $250M-$1B nonprofits • Source year 2017

Asset Growth

68th percentile

10%

Faster asset growth than 68% of similar nonprofits.

2017 filings • $250M-$1B nonprofits • Annualized from 2016 to 2017

Revenue Growth

44th percentile

4.4%

Faster revenue growth than 44% of similar nonprofits.

2017 filings • $250M-$1B nonprofits • Annualized from 2016 to 2017

Assets

Up

$285,502,439

Up $26,406,139 (+10%) from 2016

Net Assets

Up

$61,493,249

Up $14,448,859 (+31%) from 2016

Liabilities

Up

$224,009,190

Up $11,957,280 (+5.6%) from 2016

Revenue

Up

$114,332,089

Up $4,868,894 (+4.4%) from 2016

Expenses

Up

$100,233,730

Up $3,223,420 (+3.3%) from 2016

Net Income

Up

$14,098,359

Up $1,645,474 (+13%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$800M$600M$400M$200M$0-$200MAssets 2013: $0Liabilities 2013: $0Net Assets 2013: $02013Assets 2014: $209,678,969Liabilities 2014: $183,598,115Net Assets 2014: $26,080,8542014Assets 2015: $231,163,338Liabilities 2015: $195,977,208Net Assets 2015: $35,186,1302015Assets 2016: $259,096,300Liabilities 2016: $212,051,910Net Assets 2016: $47,044,3902016Assets 2017: $285,502,439Liabilities 2017: $224,009,190Net Assets 2017: $61,493,2492017Assets 2018: $315,637,936Liabilities 2018: $245,829,874Net Assets 2018: $69,808,0622018Assets 2019: $329,044,798Liabilities 2019: $254,653,445Net Assets 2019: $74,391,3532019Assets 2020: $402,620,333Liabilities 2020: $324,886,653Net Assets 2020: $77,733,6802020Assets 2021: $489,430,210Liabilities 2021: $496,355,345Net Assets 2021: -$6,925,1352021Assets 2022: $546,609,465Liabilities 2022: $536,336,626Net Assets 2022: $10,272,8392022Assets 2023: $614,206,725Liabilities 2023: $582,483,726Net Assets 2023: $31,722,9992023Assets 2024: $621,309,364Liabilities 2024: $578,963,265Net Assets 2024: $42,346,0992024Assets 2025: $631,125,654Liabilities 2025: $587,139,716Net Assets 2025: $43,985,9382025

Highlighted filing

2017

Assets$285,502,439
Liabilities$224,009,190
Net Assets$61,493,249

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$150M$100M$50M$0-$50MRevenue 2013: $0Expenses 2013: $0Net Income 2013: $02013Revenue 2014: $97,359,656Expenses 2014: $88,725,100Net Income 2014: $8,634,5562014Revenue 2015: $101,661,857Expenses 2015: $92,174,127Net Income 2015: $9,487,7302015Revenue 2016: $109,463,195Expenses 2016: $97,010,310Net Income 2016: $12,452,8852016Revenue 2017: $114,332,089Expenses 2017: $100,233,730Net Income 2017: $14,098,3592017Revenue 2018: $115,242,735Expenses 2018: $107,288,432Net Income 2018: $7,954,3032018Revenue 2019: $117,986,355Expenses 2019: $113,365,343Net Income 2019: $4,621,0122019Revenue 2020: $128,711,883Expenses 2020: $124,692,746Net Income 2020: $4,019,1372020Revenue 2021: $116,653,333Expenses 2021: $94,435,478Net Income 2021: $22,217,8552021Revenue 2022: $124,964,181Expenses 2022: $106,516,843Net Income 2022: $18,447,3382022Revenue 2023: $131,615,497Expenses 2023: $108,964,258Net Income 2023: $22,651,2392023Revenue 2024: $143,974,599Expenses 2024: $133,722,378Net Income 2024: $10,252,2212024Revenue 2025: $129,665,528Expenses 2025: $129,820,925Net Income 2025: -$155,3972025

Highlighted filing

2017

Revenue$114,332,089
Expenses$100,233,730
Net Income$14,098,359
Jump To
Filing Snapshot
Filing Period
May 1, 2016 to Apr 30, 2017
Signed
Mar 15, 2018
Return Version
2016v3.0
Gross Receipts
$115,521,438
Mission and Program Overview

Mission

Sag-aftra members work together to secure the strongest protections for media artists.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$53,102,429$61,633,579▲ $8,531,150
Investments in Publicly Traded Securities$20,372,892$19,551,518▼ $821,374
Land, Buildings, and Equipment, Net$10,737,682$12,916,718▲ $2,179,036
Prepaid Expenses and Deferred Charges$1,977,995$2,483,109▲ $505,114
Accounts Receivable$1,063,229$1,968,528▲ $905,299
Investments Other Securities-$1,894,204-
Total Assets$259,096,300$285,502,439▲ $26,406,139
Other Assets Total$171,842,073$185,054,783▲ $13,212,710
Liabilities
Escrow Account Liability$171,701,413$183,919,759▲ $12,218,346
Accounts Payable and Accrued Expenses$16,914,294$16,942,289▲ $27,995
Other Liabilities$13,072,007$13,280,671▲ $208,664
Deferred Revenue$10,364,196$9,866,471▼ $497,725
Total Liabilities$212,051,910$224,009,190▲ $11,957,280
Net Assets / Fund Balance
Unrestricted Net Assets$47,044,390$61,493,249▲ $14,448,859
Total Net Assets Fund Balance$47,044,390$61,493,249▲ $14,448,859
Total Liabilities and Net Assets / Fund Balance$259,096,300$285,502,439▲ $26,406,139

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$7,126,478$22,943,866$30,070,344
Leasehold Improvements$5,677,298$6,799,878$12,477,176
Land$112,942-$112,942
Other Assets Org$1,031,889--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
David WhiteNational Executive DirectorFT$598,361$242,825$841,186
Duncan Crabtree-irelandChief Operating Officer / General CounselFT$344,625$101,664$446,289
Duncan Crabtree-irelandChief Operating Officer / General Co-$306,640$139,649$446,289
Ray RodriguezChief Contracts OfficerFT$312,158$124,468$436,626
Mathis Dunn JrAssociate National Executive DirectorFT$316,912$93,489$410,401
Mathis Dunn JrAssociate National Executive Directo-$309,921$100,480$410,401
Arianna OzzantoChief Financial OfficerFT$272,167$119,123$391,290
Jeff BennettChief Deputy General CounselFT$233,854$122,659$356,513
Pamela GreenwaltChief Communications & Marketing OfficerFT$274,009$80,833$354,842
Pamela GreenwaltChief Communications & Marketing Off-$258,655$96,187$354,842
Martha HoldridgeChief Human Resources OfficerFT$250,396$91,965$342,361
Richard LarkinAssoc. Executive Director/labor CounselFT$259,755$76,627$336,382
Richard LarkinAssoc. Executive Director/labor Coun-$240,205$96,177$336,382
Mary CavallaroChief Broadcast OfficerFT$235,273$90,580$325,853
Daniel InukaiChief Information OfficerFT$229,364$88,672$318,036
Kathy ConnellSag Awards & National ProgrammingFT$222,250$94,327$316,577
Brad KeenanExec. Director, Contract Administration & EnforcemFT$240,722$71,013$311,735
Brad KeenanExec. Director, Contract Administrat-$229,705$82,030$311,735
David VivianoChief EconomistFT$226,855$83,036$309,891
William BensussenSenior Deputy General CounselFT$198,783$82,788$281,571
Michelle BennettExecutive Director, GovernanceFT$190,055$74,907$264,962
John McguireSenior AdvisorPT$185,416$69,704$255,120
Nancy DuerrNational Board Member-$7,315-$7,315
Maureen DonnellyNational Board Member-$5,320-$5,320
Sue-anne MorrowNational Board Member-$1,453-$1,453
Margie GhigoNational Board Member-$1,085-$1,085
Debra NelsonNational Board Member-$875-$875

Board Members and Trustees

NameTitle
Gabrielle CarterisPresident
Rebecca DamonExecutive Vice President
Samantha MathisVice President, Actor/performers
Catherine BrownVice President, Broadcasters
Clyde KusatsuVice President, Los Angeles
Ilyssa FradinVice President, Mid-size Locals
Michael HodgeVice President, New York
Dan NavarroVice President, Recording Artists
David Hartley-margolinVice President, Small Locals
Alex SilvermanAlternate National Board Member
Andrew ZimmermanAlternate National Board Member
Aubrey MozinoAlternate National Board Member
Ben WhitehairAlternate National Board Member
Carole ElliottAlternate National Board Member
Cupid HayesAlternate National Board Member
Debra SperlingAlternate National Board Member
Diana BoylstonAlternate National Board Member
Duane HansonAlternate National Board Member
Elaine LohAlternate National Board Member
Eric WydraAlternate National Board Member
George SanchezAlternate National Board Member
Jack MulcahyAlternate National Board Member
Jamal StoryAlternate National Board Member
Jasper RandallAlternate National Board Member
Jeff AustinAlternate National Board Member
Jim KerrAlternate National Board Member
John RothmanAlternate National Board Member
Joseph MelendezAlternate National Board Member
Julie MichaelsAlternate National Board Member
Kate LinderAlternate National Board Member
Kathryn KlvanaAlternate National Board Member
Kim ReneeAlternate National Board Member
Lance LewmanAlternate National Board Member
Linda HarcharicAlternate National Board Member
Marc BaronAlternate National Board Member
Micci ToliverAlternate National Board Member
Michael BellAlternate National Board Member
Michael KraycikAlternate National Board Member
Mike SakellaridesAlternate National Board Member
Mimi CozzensAlternate National Board Member
Natalee ArteagaAlternate National Board Member
Natalia CastellanosAlternate National Board Member
Neil SamuelsAlternate National Board Member
Parvesh CheenaAlternate National Board Member
Phoebe JonasAlternate National Board Member
Ric ReitzAlternate National Board Member
Ricco RossAlternate National Board Member
Rick ZahnAlternate National Board Member
Ron OstrowAlternate National Board Member
Samantha HartsonAlternate National Board Member
Sandra KarasAlternate National Board Member
Shane CarsonAlternate National Board Member
Tom ChoiAlternate National Board Member
Abigail GrenleyNational Board Member
Adrian MartinezNational Board Member
Ana LiliaNational Board Member
Anne GartlanNational Board Member
Art LynchNational Board Member
Autumn ReeserNational Board Member
Bill MootosNational Board Member
Bob ButlerNational Board Member
Bobbie BatesNational Board Member
Charles FerraraNational Board Member
Chris LaceyNational Board Member
Christine NagyNational Board Member
David JolliffeNational Board Member
Debbie EvansNational Board Member
Diane LaddNational Board Member
Don AhlesNational Board Member
Ed AsnerNational Board Member
Elaine LegaroNational Board Member
Elizabeth MclaughlinNational Board Member
Ellen CrawfordNational Board Member
Esai MoralesNational Board Member
Ezra KnightNational Board Member
Frances FisherNational Board Member
Hal EisnerNational Board Member
Helen McnuttNational Board Member
Holter GrahamNational Board Member
JENNY O'HARANational Board Member
JOE D'ANGERIONational Board Member
Jane DalyNational Board Member
Janice PendarvisNational Board Member
Jay PotterNational Board Member
Jeff SpurgeonNational Board Member
Jim FergusonNational Board Member
Joanna CassidyNational Board Member
Jodi LongNational Board Member
Joe KrebsNational Board Member
John Carter BrownNational Board Member
Jon HuertasNational Board Member
Kathryn HowellNational Board Member
Kevin ScullinNational Board Member
Leslie ShreveNational Board Member
Linda PowellNational Board Member
Lisa VidalNational Board Member
Liz ZazziNational Board Member
Martin SheenNational Board Member
Mary Mcdonald-lewisNational Board Member
Mel MackaronNational Board Member
Monica TrombettaNational Board Member
Pamela WeaverNational Board Member
Patricia RichardsonNational Board Member
Peter ToccoNational Board Member
Randal BergerNational Board Member
Richard ShavzinNational Board Member
Robert PineNational Board Member
Robin RikerNational Board Member
Rodger BrandNational Board Member
Scott RogersNational Board Member
Sheila TraisterNational Board Member
Stacey TravisNational Board Member
Susan Boyd JoyceNational Board Member
Susan SnyderNational Board Member
Suzanne BurkheadNational Board Member
Traci GodfreyNational Board Member
Vivicca WhitsettNational Board Member
William CharltonNational Board Member
Woody SchultzNational Board Member
Jane AustinSecretary-treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
TeksystemsIt ConsultantsPO BOX 198568, Atlanta, GA 30384-8568$729,473
Bush GottliebLegal Firm500 N CENTRAL AVE SUITE 800, Glendale, CA 91203$717,588
Mjd Interactive Agency INCWebsite Design Consultants724 WINDEMERE CT, San Diego, CA 92109$674,541
Talon Executive Services INCSecurity Staff Services151 KALMUS DR STE A103, Costa Mesa, CA 92626-5900$662,323
Cohen Weiss & Simon LLPLegal Firm330 W 42 STREET, New York, NY 10036$630,288
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$107,397,893
Investment Income
$749,099
Other Revenue
$6,185,097
Change in Net Assets
$14,098,359

Audited Revenue Reconciliation

Revenue per Audited Statements
$113,995,387
Revenue Not Reported on Financial Statements
$336,702
Revenue Not Reported on Form 990
$-55,317
Other Revenue Adjustments
$336,702
Total Revenue per Audited Statements
$113,940,070
Total Revenue per Form 990
$114,332,089
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$58,380,738
Other Expenses$41,101,939
Grants and Similar Amounts Paid$751,053
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$39,588,203
Occupancy---$14,659,607
Other Employee Benefits---$6,482,545
Information Technology---$5,741,131
Pension Plan Contributions---$4,552,373
Current Officers, Directors, Trustees, and Key Employees---$4,509,592
Payroll Taxes---$3,248,025
Depreciation Depletion---$2,901,952
Travel---$2,729,749
Fees for Services Other---$2,518,233
Fees for Services Legal---$2,314,974
All Other Expenses---$1,765,447
Other Expenses---$1,159,904
Office Expenses---$1,026,555
Grants to Domestic Orgs---$746,053
Insurance---$698,191
Conferences and Meetings---$487,362
Fees for Services Lobbying---$294,707
Advertising---$226,378
Fees for Services Accounting---$224,653
Foreign Grants---$5,000
Total Functional Expenses$0$0$0$100,233,730

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$100,233,730
Expenses per Audited Statements$99,897,028
Total Expenses per Audited Statements$99,491,211
Expenses Not Reported on Financial Statements$336,702
Other Expense Adjustments$336,702
Expenses Not Reported on Form 990$-405,817
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Sag-aftra FoundationLos Angeles, CA501(c)(3)General Assistance$450,817
Musicares FoundationLos Angeles, CA501(c)(3)General Assistance$25,000
Entertainment Industry College Outreach ProgramBurbank, CA501(c)(3)General Assistance$15,000
Ghetto Film SchoolBronx, NY501(c)(3)General Assistance$15,000
The Actors FundLos Angeles, CA501(c)(3)General Assistance$11,300
Motion Picture & Tv FundWoodland Hills, CA501(c)(3)General Assistance$10,653
Academy FoundationBeverly Hills, CA501(c)(3)General Assistance$10,000
Asian American Journalists AssociationSan Francisco, CA501(c)(3)General Assistance$10,000
Audio Publishers AssociationPhiladelphia, PA501(c)(6)General Assistance$10,000
The Hamptons International Film Festival IncEast Hampton, NY501(c)(3)General Assistance$10,000
Tribeca Film Festival Nyc LLCNew York, NY501(c)(3)General Assistance$10,000
Newfilmmakers Los AngelesHollywood, CA501(c)(3)General Assistance$8,000
The Blackhouse FoundationLos Angeles, CA501(c)(3)General Assistance$7,500
Women in FilmBeverly Hills, CA501(c)(3)General Assistance$7,500
Radio Television Digital News FoundationWashington, DC501(c)(3)General Assistance$7,000
Museum of the Moving ImageNew York, NY501(c)(3)General Assistance$6,000
Diamond in the Raw FoundationCulver City, CA501(c)(3)General Assistance$5,500
Casting Society of AmericaLos Angeles, CA501(c)(6)General Assistance$5,000
Ellington FundWashington, DC501(c)(3)General Assistance$5,000
Jewish Labor CommitteeNew York, NY501(c)(3)General Assistance$5,000
Louisiana Film and Entertainment AssociationBaton Rouge, LA501(c)(6)General Assistance$5,000
NalipLos Angeles, CA501(c)(3)General Assistance$5,000
National Lesbian & Gay Journalists AssocWashington, DC501(c)(3)General Assistance$5,000
San Francisco Chamber of Commerce FoundationSan Francisco, CA501(c)(3)General Assistance$5,000
Society of Professional Journalists Greater Los AngelesIndianapolis, IN501(c)(3)General Assistance$5,000
Southern California Public RadioPasadena, CA501(c)(3)General Assistance$5,000

International Summary

Offices
0
Employees
0
Spending
$4,735,510

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas,InvestmentsN/a00$4,735,510
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
No
Subject to proxy tax
Yes
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Rent$13,280,671
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

The organization has members divided into the following categories of membership status: active, honorable withdrawal, payments pending and suspended payment.

Form 990, Part VI, Section A, Line 7A

The national board of directors is the highest policy body of the organization. It is elected by the membership.

Form 990, Part VI, Section A, Line 7B

Approval of certain issues may be referred to either the membership for a referendum vote or to a biannual national convention.

Form 990, Part VI, Section B, Line 11B

The cfo and controller review the 990 for misstatements or errors and the amounts reported are compared to the audited financials. The 990 is distributed to the finance committee for discussion and review. The form is also available upon request to any board member.

Form 990, Part VI, Section B, Line 12C

The policy is reviewed annually by the human resources department and updated as necessary. Exemptions, if any, would have to be approved by the national executive director or general counsel for employees and are subject to constitutional review for members. Sag-aftra is not aware of any exemptions at this time.

Form 990, Part VI, Section B, Line 15

A committee composed of national board members reviews and compares the national executive director's compensation with compensation for comparable positions, and makes a recommendation to the full board for approval. The ultimate authority resides with the national board.

Form 990, Part VI, Section C, Line 18

The organization's form 990 may also be inspected on www.guidestar.org.

Form 990, Part VI, Section C, Line 19

Upon request, these documents are made available to the public.

FORM 990, PART VII, SECTION A:

Alternate board members have voting rights upon being asked to attend a national board meeting on behalf of a national board member. Accordingly, the organization is reporting the names of alternate board members who were called to serve in place of national board members at any time during the tax year.

Filing and Contact Details

Filer

Filer Name
Screen Actors Guild-american Federation
EIN
45-4931719
Phone
3235496689
Address
5757 WILSHIRE BOULEVARD 7TH FLOOR, LOS ANGELES, CA 90036

Signing Officer

Name
Arianna Ozzanto
Title
CFO
Phone
3235496689
Signed
2018-03-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David White
Formed
2012
Legal Domicile
De
Voting Board Members
82
Independent Board Members
82
Employees
636
Volunteers
1,150

Preparer

Firm
Singerlewak Llp
Address
10960 WILSHIRE BLVD STE 700, LOS ANGELES, CA 90024-3783
Preparer
Nazanin Benyamini
Phone
3104773924
Supplemental Narrative

Additional Explanations

FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:

(a) increasing the power and leverage of our members in their bargaining relationships with the employers in our industries; (b) organizing workers in the entertainment and media industries in order to maximize our bargaining strength; (c) increasing our power in dealing with the various governmental bodies that address the significant public policy issues confronting our members; (d) protecting and securing the rights of our members in their professional activities, including securing meaningful legislation and regulations on matters affection their work and taking appropriate protective action in response to the unauthorized use of their work; (e) cooperating, coordinating and combining with other organizations whose objectives include the advancement and improvement of members' compensation and working conditions whenever such action is in the best interest of our members; (f) establishing, conduction, sponsoring and maintaining such educational, recreational, social and charitable enterprises as may assist our members and aid in their general welfare; (g) receiving, administering and expending the unions fund in the interests of our members; (h) collecting and distributing government mandated or other compulsory royalties, levies of remuneration subject to worldwide collective administration; (i) without limitation, protecting the rights of entertainment and media artists in all other aspects consistent with the overall objectives of the union and doing all things necessary and proper to advance and promote their welfare and interests.

Financial Statement Notes

PART IV, LINE 2B:

Producers' production and residual deposits are held in trust to ensure payment of performers salaries and residuals. Performers' residual payments, settlements and foreign royalties are held in trust pending distribution to performers.

PART X, LINE 2:

The union is intended to qualify pursuant to section 501(c)(5) of the internal revenue code, and accordingly, the union's net change in unrestricted assets is exempt from income taxes. Management believes that union continues to qualify and to operate in accordance with applicable provisions of the internal revenue code. Accounting principles generally accepted in the united states of america require union management to evaluate tax positions taken by the union and recognize a tax liability (or asset) if the union has taken an uncertain position that more likely than not would not be sustained upon examination by the internal revenue service. Union management has analyzed the tax positions by the union, and has concluded that as of april 30, 2017, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The union is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Grants netted in award show -405,817.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Loss on disposal of fa netted in expenses -134,173. Advertising income netted in expenses 470,875.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Grant netted in award show -405,817.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Advertising income netted in expenses 470,875. Loss on disposal of fa netted in expenses -134,173.

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