Fund for the Arts Inc.

“Delegation of Authority - Pursuant to the Bylaws, the Board selected an Executive Committee. Under the Bylaws (in effect through June 26, 2018), when the Board is not in session. The Executive Committee has and may exercise all the authority of the Board with various stated exceptions: (a) elect or appoint Directors; (b) elect or appoint Officers; (c) approve any annual allocation among the Assisted Organizations of funds raised in the annual fund-raising campaign or otherwise controlled and distributable by the Fund; (d) amend, alter or repeal the Bylaws; (e) appoint or removed any member of the Executive Committee, any Director or any Officer; (f) amend or restate the Articles; (g) adopt a plan of merger or consolidation with another corporation; (h) amend, alter, repeal any resolution of the Board. The amended Bylaws effective June 28, 2018 modified item (c) to read as follows: "(c) approve the Corporation's annual operating budget and/or annual Sustaining Impact Grants." All other provisions remained unchanged.”

“Board Member, Martin Pollio and Board Member, Diane Porter, business relationship”

“Description of process for reviewing the organization's Form 990 - A group consisting of the organization's Board Chair, CEO, Chair of the Compensation Committee, Chair of the Finance Committee and at least two other members of the Finance Committee are provided with a draft of the Form 990 for review prior to its finalization. A copy of the finalized return is made available to all voting Board members prior to being filed with the IRS.”

“Conflict of Interest (COI) Policy/Enforcement - Annually, the Fund for the Arts, provides a copy of the COI Policy to all Directors and Officers. Directors and Officers are required to read and comply with the policy which requires, at a minimum, annual disclosure of outside activities and relationships which could give rise to a potential conflict. This is then used by the organization's management in its ongoing monitoring of potential conflicts. In addition, the COI Policy requires that a Director or Officer provide full disclosure of any conflicts or perceived conflicts as defined in the Policy and recuse him/herself from participation in the decision-making or vote regarding the affected transaction.”

“Process for Determining Compensation of Top Management Official, Other Officers or Key Employees - Each year the Fund for the Arts' Compensation Committee reviews the compensation arrangements for the CEO. They also review the CEO's recommendation regarding compensation for the Vice Presidents and the CFO. The Committee then presents their recommendations to the organization's Executive Committee or Board for final approval. The Committee is comprised of independent members, uses comparability data and documents the deliberations and recommendations. The compensation arrangements are reviewed/approved prior to changes being implemented.”

“The most current audited financial statements are available on the Fund for the Arts' website. Articles of Incorporation are on file with the KY Secretary of State. The Conflict of Interest Policy and Bylaws are available upon request.”

“Allowance for Doubtful Accounts”