Soundexchange Inc

“Soundexchange does not keep written minutes of all of its committee meetings. In particular, we do not keep minutes of our licensing committee or finance committee meetings due to the sensitivity of matters discussed in those meetings. Our governing documents make clear that minutes are not mandatory. We do keep written minutes of all board meetings.”

“Management will review the 990 prior to filing, and a draft is provided to the finance committee prior to filing. A copy of the filed 990 will be provided to the full board of directors.”

“The soundexchange governance manual requires the disclosure of any potential conflicts of interest. In addition, the members of the board of directors and officers of the company complete an annual questionnaire that asks if there have been any conflicts of interest in the reporting year.”

“The compensation committee, comprising of members of the board of directors, considers external salary data, scope and complexity of the responsibilities of the position, in determining, and recommending to the full board for approval, the president and ceo's executive compensation. The president and ceo assesses compensation for the officers and other executive team members by utilizing relevant external comparable salary data for like responsibilities at not-for-profit organizations, experience and annual review process.”

“The governing documents are not made available to the public. The conflict of interest documents are not made available to the public. A non-gaap version of the financial statements is made available on soundexchange's website.”

“As of December 31, 2017 Soundexchange had 163 employees.”

“Oversight of audit: there have been no changes during the year in the process for oversight of the audit of the financial statements.”

“Soundexchange is the nonprofit organization at the center of digital music, developing business solutions to benefit the entire music industry. Soundexchange's guiding principle is simple: all creators should receive fair pay, on all platforms, whenever their music is used. The company represents recording artists and master sound recording rights owners including major and independent record labels. The organization collects and distributes digital performance royalties on behalf of approximately 154,000 recording artists, master rights holders accounts, and administers direct agreements on behalf of rights owners and licensees. To date, soundexchange has paid out more than $5.0 billion in royalties. In addition to representing artists and rights owners for the public performance of their work on non-interactive digital radio services, soundexchange develops innovative, efficient and trusted business solutions for the entire global music marketplace to help creators get paid with greater transparency and accuracy. Soundexchange administers direct non-statutory licensing arrangements between sound recording copyright owners and services performing the works of those sound recording copyright owners and collects and distributes royalties received from foreign collective management organizations on behalf of its members. Soundexchange fights for royalty structures that recognize the vital role that the creators of music play for digital services. The library of congress has designated soundexchange to administer the statutory licenses that allow digital music services including pandora, siriusxm and music choice - and more than 3,300 other digital music services - to perform sound recordings. Soundexchange also develops technology and data processing solutions to improve all aspects of royalty administration to ensure fast and accurate payments.”