Tennessee Performing Arts Center (Tpac)

“The following organizations and individuals have the ability to appoint tpac's governing body: the tennessee performing arts foundation - 8 positions the tennessee governor - 5 positions tennessee's education commissioner - 1 position the tennessee arts commission - 6 positions the tennessee performing arts center management corporation - 8 positions”

“Upon completion of form 990 by the external auditors for tennessee performing arts center management corporation, it will be reviewed by either the cfo or designated finance department staff members and then a review meeting is held that includes the tpac ceo, cfo, key finance department staff, external audit and tax preparer, audit committee chair and/or board treasurer. Appropriate changes may be made at any point in the review process prior to filing form 990 with the irs.”

“The conflict of interest and confidentiality policies are distributed electronically via email. All directors were asked to electronically accept the policies and to disclose any conflicts of interest via a digital survey. Digital copies of these survey responses are kept on file. If a potential conflict may arise, the interested party refrains from participating in the related discussion and decision; and information on comparable bids or values is available to the directors to ensure an objective review and decision in the best interests of tpac.”

“Tpac's board of directors hires the organization's ceo and negotiates subsequent employment contracts. The board chairman's process for determining compensation for the ceo is based on multiple criteria: historical salary range for the position, salary survey information compiled annually by a research firm for our specific industry (pacc - peforming arts center consortium) and available budgetary restraints. Other officer compensation is handled similarly by the ceo. Also, tpac has begun to use search firms when recruiting for executive level positions; the firms have been helpful when determining, confirming or re-assessing salary ranges.”

“Tpac's governing documents are available for public inspection. Pursuant to tenn code ann section 8-44-107, the activities of the board are open to the public as if it were a governmental agency. See below: 8-44-107. Board of directors of performing arts center management corporation - the board of directors of the tennessee performing arts center management corporation shall be subject to, and shall in all respects comply with, all of the provisions made applicable to governing bodies by this chapter [open meetings law]. Tpac's audited financial statements are available at www.givingmatters.org. Tpac's conflict of interest policy is not made available to the public.”

“The oversight of the audit of the financial statements and the selection process of an independent accountant that audited the financial statements has not changed from the prior year.”