Tampa Bay Performing Arts Center

“Directors bill west, sandy mackinnon, and stanley levy have a business relationship.”

“Before form 990 is filed, it is reviewed by the foundation's treasurer and cafo. The treasurer and cafo will then present the form to the audit committee at a special dedicated meeting with a highlighted review of the form section by section being done by the controller, cafo and ceo, as applicable. After the treasurer and audit committee have reviewed the form, the cafo will provide: (1) a summary of the highlighted review of the form 990 section by section along with (2) a final draft of the respective form 990 for the year being filed to all board members who have voting privileges and (3) a recommendation for motion for approval for the form 990 to be filed as being presented in final draft form. This will be done via a protected board portal website for which passwords will be given for protected access. Board members will have the opportunity to send questions and/or their respective approvals. The treasurer, cafo and audit committee will accept and respond to any questions raised by board members. As part of the submitted form 990 presentation to the board, the audit and finance committees will also, based on their review of the form, make necessary recommendations to the board regarding governance, policies, disclosure, etc.”

“Board members and executive staff (ceo, cafo, coo, cdo) are required, on an annual basis to: (1) read the conflict of interest and confidentiality policy, (2) sign off on acknowledgment that policy has been read and received and (3) complete a conflict-of-interest disclosure form. The cafo reviews the completed annual conflict of interest disclosure forms. Any concerns are raised to the ceo, chief development officer (staff liaison to the center board governance committee) and the center board governance committee as applicable. If any board member or executive staff member does not complete the related annual forms, the chief development officer will address accordingly. If a conflict exists, the board or key executive staff member is required to disclose the conflict, remove himself or herself from voting on the particular matter, decline participation in a conflicting bid for related business, or not apply for employment as a staff position. Any conflicts with the cafo, needs to be addressed to ceo, treasurer of the foundation, and treasurer of the straz center and the audit committee chair.”

“The foundation has one (1) full-time employee who is paid by the tampa bay performing arts center, inc. Dba david a. Straz jr center for the performing arts (center), a related non-profit organization (see schedule r). The expense is charged back to the foundation through intercompany charge and is reported on form 990, part ix, lines 7 through 10. Other key personnel in support of the foundation are center employees and are subject to compensation, classification, and all other personnel policies of the center. The center periodically reviews its classification and compensation structure to ensure reasonableness. Since the foundation does not set compensation directly, questions 15a and 15b have been answered "no" in accordance with the form instructions. The process the center uses to establish compensation is described below. The chairman of the board in working with the human resources committee (the "committee") has authority to negotiate the ceo compensation with approval by the executive committee and ratification by the board of trustees. The compensation of the ceo's direct reports is established by the ceo and reviewed with the committee on behalf of the board of trustees. The committee may engage an independent consulting firm, who will work for the committee to evaluate the organization's executive compensation program against the competitive market on an annual or as needed basis. In addition, utilization of online compensation market tools and studies are used for analysis and evaluation. The evaluation is intended to ensure that the compensation program falls within a reasonable range of competitive practices for comparable positions among similarly situated organizations. Following this review, the committee reviews and approves, for selected key executives, base salaries and annual incentive opportunity adjustments, and objectives and goals for the upcoming year's annual incentive plan for selected key executives. For ceo compensation, the committee meets independent of the ceo to discuss performance relative to the position description as per tbpac's ceo job performance and evaluation model. During these deliberations, the committee may consider input from other board members, staff, professional advisors, grant-recipients, and other informed community leaders. Once a consensus is reached regarding performance, a similar discussion is held concerning compensation relative to annual benchmarks and established objectives. The committee presents its findings and recommendation, in an executive session without the ceo present. The committee chair and/or board chair (a member of the committee) then meets with the ceo, annually, to discuss and document business strengths, opportunities, and goals for the upcoming year. Compensation for the upcoming year is also discussed and documented.”

“The foundation's governing documents and conflict of interest policy are available upon request. The center's consolidated financial statements, which include the foundation, are available upon request and on the center's website at www.strazcenter.org/about-us/financials/”

“The foundation is organized as a supporting organization exclusively for, and is dedicated to, the benefit of, to perform the functions of, and to carry out the purposes of, the tampa bay performing arts center, inc. Dba david a. Straz jr center for the performing arts (the "center or "straz center"), a 501(c)(3) organization to which contributions are deductible under section 170 of the internal revenue code of 1986, as such code is amended from time to time. The foundation shall invest its funds and serve as an endowment fund for the supported organization, namely the tampa bay performing arts center, inc. The foundation shall encourage and motivate the making of gifts, donations, and benefactions by intervivos gift, deed will and otherwise, for the advancement, or promotion, of programs or and maintenance of, the activities, operations and capital projects of the tampa bay performing arts center, inc. This organization shall conduct corporate and public fundraising activities on behalf of the center and in support of the activities, operations, and capital projects of the center. The foundation shall distribute its net income at least annually to the center. The foundation may distribute any unrestricted and quasi endowment funds as approved by the tampa bay performing arts center, inc., and the tampa bay performing arts center foundation, inc.”

“The straz center and communities of arts patrons and donors will forge ahead with us into the greater evolution of our roles as an economic force, an international tourist destination, a bastion of world class arts and a community partner of unwavering dedication to fulfill our mission. If we have learned anything unequivocally over the past 38 years of the straz center history, it's that the arts change lives. With community support, straz center serves to enhance the economic vitality of our region, the safety of our children and communities and the beauty of the human spirit by making the arts available and accessible. In the coming years, the straz center has exciting plans to renovate and upgrade the facilities through our strategic master plan while continuing to attract spectacular artists as well as innovative new shows and performances. The straz center is excited to report to its community partners, as it looks forward, celebrating its rich history and embracing, with great enthusiasm, the present momentum that determines its future. Capital improvements: our master plan - a plan for the future - our future is boundless: after three decades of success, the straz center is a place you know. It's the setting for symphony and the region's broadway stage. It is where you dress up for the opera or discover a great local band. It's the place to go for world-class entertainment or exceptional education in dance, theater, and music. As we look to the future, we want to create a new straz center that is a ticket or no-ticket gathering place on the riverwalk. A welcoming and beautiful new space for meeting, dining, seeing, and being. We will be blowing out the walls, taking you to the river, showing off the city all while sending an invitation to the city, and the world to enjoy our expanded range of performances and experiences. The foundation is fundraising for this plan through our boundless campaign which includes two goals: (1) to transform our physical spaces through a master plan that makes the straz an even more vibrant stage for world-class arts and educations; and (2) to strengthen our financial foundation by growing our endowment. Thank you to all our community donors and supporters for contributing to support our straz center and setting a platform for us to build a bigger, brighter, more accessible future. Your commitment to our mission allows us to bring arts education and enjoyment to the tampa bay area.”

“Change in value of beneficial interest 103,484. Change in value of split-interest agreement -5,039. Change in value of pledges receivable -193,480. Change in net present value allowance -636,506.”

“The foundation is included in the consolidated audit of tampa bay performing arts center, inc. (center). The center's audit committee assumes responsibility for selection of the independent cpa and oversight of the financial statement audit. The audit committee chair works with the management team to identify potential firms. The audit chair, cafo, and finance directors interview the nominee cpa firms and recommends a firm to the audit committee for approval. The audit committee motions for approval and advises the executive committee of the board. The audit committee holds quarterly executive sessions with the auditors and reviews the annual audit plan, audited financial statements, and management communications with the external auditors.”