Gadsden Arts Inc.

Part I: Summary

“The Gadsden Arts Center & Museum's mission is to foster understanding and appreciation of the visual arts to improve the quality of life in Gadsden County and the region. THE ORGANIZATION WORKS TO ENHANCE ARTS EDUCATION, PROVIDE CULTURAL OPPORTUNITIES, AND STIMULATE ECONOMIC GROWTH IN THE COMMUNITY. Part VI: Governance, Management, AND Disclosure Section A, Line 4 The board voted to change the board year from March-February to July-June. Also moved the Annual Meeting to May to coincide with the new board year. Section B, Line 11 Form 990 and accompanying schedules are prepared by an independent accounting firm. A COPY OF THE FORM 990 and accompanying schedules IS REVIEWED BY THE EXECUTIVE DIRECTOR, FINANCE COMMITTEE, AND THE BOARD OF DIRECTORS. All questions and issues are resolved with the independent accounting firm prior to filing with the internal revenue service center. LINE 12C ALL OFFICERS, DIRECTORS, COMMITTEE MEMBERS, AND STAFF MEMBERS MUST SIGN A WRITTEN CONFLICT OF INTEREST POLICY PRIOR TO WORKING WITH THE ORGANIZATION. THIS POLICY AND THE SIGNED AGREEMENTS ARE REVIEWED ON AN ANNUAL BASIS. LINE 15A AND 15B THE GADSDEN ARTS, INC. BOARD OF DIRECTORS, BASED IN PART ON A RECOMMENDATION FROM THE GADSDEN ARTS, INC. FINANCE COMMITTEE, SETS AND APPROVES COMPENSATION. SALARY LEVELS ARE BASED ON COMPENSATION STANDARDS FOR EXECUTIVE DIRECTORS AND COMPARABLE PROFESSIONAL POSITIONS IN THIS AREA. ANNUAL SALARIES ARE ADJUSTED FOR COST OF LIVING AND EVALUATED FOR ALIGNMENT WITH THE AMERICAN ALLIANCE OF MUSEUMS SALARY SURVEY. SECTION C, LINE 19 THE ORGANIZATION MAINTAINS ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANICAL STATEMENTS FOR A THREE YEAR PERIOD IN ITS ADMINSTRATIVE OFFICE AND THESE DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON Request. Part XI Reconciliation of Net Assets Line 9 Transfer of assets from Unrestricted to Endowment - $185,749”