Opera Lafayette

“The 990 is distributed to the Finance Committee for review and discussion at this Committee's meetings, then it is distributed to the Board and discussed at a Board meeting.”

“Board members are asked to routinely verify that they are aware of no conflicts of interest.”

“The Compensation Subcommittee of the Planning Committee meets on an as-needed basis to review key staff compensation issues, obtain comparability data through research of like-kind organizations' Form 990s, and circulate its findings and recommendations to the Planning Committee and then to the Board for adoption of changes in compensation of key staff.”

“The Organization makes its governing documents and financial statements available to the public upon request.”

“The audit of OPL's fiscal year 2016 financial statements was completed in July 2017. The 2015 Form 990 has been amended to reflect the final fiscal year 2016 numbers reported on the Audited Financial Statements. The items that have changed as a result of the amendment are: Form 990, Heading, Item G- Gross Receipts- change as a result of changes to Part VIII Statement of Revenue below Form 990, Part I, Summary Lines 8-22 - changes to line items as a result of changes to Parts VIII Statement of Revenue and IX Statement of Functional Expense below Form 990, Part III, Program Service Accomplishments, Lines 4a-4c- Total expenses and revenue by program- updated to reflect final audited financial statement numbers Form 990, Part IV, Checklist of Required Schedules, Questions 11d- updated to reflect other assets reported in Part X, Line 15 that is 5% or > of total assets Form 990, Part IV, Checklist of Required Schedules, Questions 11f and 12a- updated to reflect audit opinion and ASC 740 footnote Form 990, Part VIII, Statement of Revenue, Lines 1e-1h, 2a-2g, 3, 11a-11e, and 12- updated to reflect final audited financial statement numbers Form 990, Part IX, Statement of Functional expenses, Lines 1-25- updated to reflect final audited financial statement numbers Form 990, Part X, Balance Sheet, Column (B) End of Year, Lines 1-34- updated to reflect final audited financial statement numbers Form 990, Part XI, Reconciliation of Net Assets, Lines 1-10, updated to reflect amendments in Parts VIII and IX Form 990, Part XII, Financial Statements and Reporting, Lines 2b-2c- updated to reflect separate basis audited financial statements and a committee that assumes oversight of audit Form 990, Schedule A, Part II, Support Schedule for Organization Described in Section 509(a)(1), Sections A-B, Column(d), Lines 1-12 and Section C, Line 14- updated to reflect changes to 990 Part VIII Form 990, Schedule B, Part I, Schedule of Contributors- updated fiscal year 2016 amount for DC government grant Form 990, Schedule D, Part X, Line 2 FIN 48 (ASC 740) Footnote- updated to check box Form 990, Schedule D, Parts XI and XII, Reconciliation of Revenue and Expenses per Audited Financial Statements to return- - updated to reflect final audited financial statement numbers and reconciling amounts Form 990, Schedule D, Part XIII, Supplemental Information- updated to add the text of the footnote in the audited financial statements that addresses uncertain tax positions”

“Artists' fees: Program service expenses 29,224. Management and general expenses 0. Fundraising expenses 0. Total expenses 29,224. Vocalists fees: Program service expenses 74,225. Management and general expenses 0. Fundraising expenses 0. Total expenses 74,225. Orchestra fees: Program service expenses 105,555. Management and general expenses 0. Fundraising expenses 600. Total expenses 106,155. Chorus fees: Program service expenses 13,065. Management and general expenses 0. Fundraising expenses 0. Total expenses 13,065. Temporary help: Program service expenses 0. Management and general expenses 29,300. Fundraising expenses 0. Total expenses 29,300. Other professional fees: Program service expenses 0. Management and general expenses 15,582. Fundraising expenses 0. Total expenses 15,582.”

“The Audit Committee of the Board of Directors is responsible for the oversight of the audit, including the selection of the independent accountant. The results are reported to the Finance Committee and to the Board of Directors. The process is consistent with previous years.”