The Wang Center for the Performing Arts

“The finance committee reviews the form 990 disclosures for accuracy and compliance with organizational policies. A final copy of the form 990 is distributed to the entire board of directors prior to filing with the irs.”

“Each director, overseer or principal officer of the center annually signs a statement regarding conflicts of interest in form satisfactory to the board. Such statements without limitation: 1. Affirm that the person has received a copy of the conflict of interest policy, has read and understands the policy and agrees to comply with it; and 2. Disclose to the board: a. The name of each entity, for-profit and non-profit, (other than the center or any charitable organization owned or controlled, directly or indirectly, by the center) which the person serves as an officer, director, trustee, manager, general partner or employee and the person's position at each such entity; b. Whether the person (or any family member, other individual or entity deemed an "insider" by virtue of a relationship with the person) has, at such time, a conflict of interest; and, c. All material facts relating to any such conflict of interest.”

“The officers of the board serve as the members of the compensation committee. The committee is responsible for developing an overall philosophy for the organization's compensation programs applicable to officers and employees. The committee may seek advisement and counsel from professionals with expertise in compensation arrangements for u.s. Based non-profit tax exempt corporations. Acting as member of the compensation committee, the officers are required to participate as follows: *to annually review with the board and ceo the position description for the ceo and recommend any changes to the board for consideration. *to recommend appropriate elements of compensation of the ceo. *to establish the goals and objectives of the ceo, to annually review the performance of the ceo relative to the institution's goals and objectives for the purpose of determining the compensation of the ceo, and to evaluate the ceo's performance in light of those strategic goals and objectives. *to make recommendations to the board based on this evaluation. *to annually review the recommendations of the ceo concerning overall compensation and other conditions of employment of the center's senior officers and satisfy itself that the overall compensation is in accordance with the business plan of the institution and with generally accepted compensation levels for comparable businesses. *to conduct periodic reviews of the incentive plans of the center which may be in place from time to time, and submit recommendations with respect to any amendments to, or any proposed awards under, such plans to the board on all other incentive compensation plans. *to assist the board in connection with issues relating to succession planning, including appointing, training and monitoring the development and performance of the senior officers of the center. *the committee will oversee regulatory compliance and include an annual review of all elements of officer compensation and recommend documentation and approval by the full board in a manner that is designed to qualify for the rebuttable presumption of reasonableness under laws and regulations applicable to non-profit organizations. *to assemble and evaluate comparative data by obtaining, reviewing and assimilating comparable compensation data with respect to ceo and officer level compensation polices for similarly qualified persons in functionally comparable positions for organizations of comparable size, geographic location, community presence, industry and other relevant factors. Such comparative data shall be shared with and discussed by the full board. *to review and advise the full board on any proposed employment agreement with, and any proposed severance or retention plans or agreements applicable to, any officer of the institution. In addition, the committee shall review and advise with respect to any severance or other termination payments proposed to be made to any senior level officer of the organization. *the committee will report its activities to the board in such manner and such times as the committee or the board deem appropriate. *the committee will maintain contemporaneous documentation of its deliberations and decisions regarding compensation arrangements for the ceo and other senior officers of the center.”

“The organization makes its governing documents, conflict of interest policy, form 990, and financial statements available to the public upon request.”

“The organization has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of its independent accountants. This process has not changed during the year.”