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. 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, officers, and key employees 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 total compensation 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 total compensation 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. Form 990, part xi, line 9 other changes in net assets member contribtuion ................. $5,301,120”

“AS OF DECEMBER 31, 2019 SOUNDEXCHANGE HAD 167 EMPLOYEES. Form 990, Part III, Line 1 SOUNDEXCHANGE IS THE NONPROFIT ORGANIZATION THAT PROVIDES ROYALTY SOLUTIONS FOR SOUND RECORDINGS, SERVING AS THE CRITICAL BACKBONE TO TODAY'S DIGITAL MUSIC INDUSTRY. THROUGH ITS SERVICES AND ADVOCACY, SOUNDEXCHANGE HELPS ENSURE THAT ALL CREATORS RECEIVE FAIR AND ACCURATE PAY, WHENEVER THEIR MUSIC IS USED. THE ORGANIZATION REPRESENTS RECORDING ARTISTS AND MASTER SOUND RECORDING RIGHTS OWNERS, INCLUDING MAJOR AND INDEPENDENT RECORD LABELS, FOR THE COLLECTION AND DISTRIBUTION OF ROYALTIES FOR PUBLIC PERFORMANCE OF THEIR WORK ON NON-INTERACTIVE DIGITAL RADIO SERVICES. THE ORGANIZATION COLLECTS AND DISTRIBUTES THESE ROYALTIES ON BEHALF OF APPROXIMATELY 202,000 RECORDING ARTISTSMASTER RIGHTS HOLDERS' ACCOUNTS, AND ADMINISTERS DIRECT AGREEMENTS ON BEHALF OF RIGHTS OWNERS AND LICENSEES. SOUNDEXCHANGE ALSO FIGHTS FOR ROYALTY STRUCTURES THAT PROTECT THE VALUE OF MUSIC FOR CREATORS AND THE PLATFORMS THAT BENEFIT FROM IT. TO DATE, SOUNDEXCHANGE HAS DISTRIBUTED MORE THAN $6.9 BILLION IN ROYALTIES. THE LIBRARY OF CONGRESS HAS DESIGNATED SOUNDEXCHANGE TO ADMINISTER THE STATUTORY LICENSES FOR NON-INTERACTIVE DIGITAL, RADIO SERVICES, INCLUDING PANDORA, SIRIUSXM, AND MUSIC CHOICE - AND MORE THAN 3,500 OTHER DIGITAL MUSIC SERVICES. IN ADDITION TO THESE SERVICES, SOUNDEXCHANGE DEVELOPS INNOVATIVE, EFFICIENT, AND TRUSTED BUSINESS AND DATA SOLUTIONS FOR THE ENTIRE GLOBAL MUSIC MARKETPLACE. SOUNDEXCHANGE ADMINISTERS DIRECT NON-STATUTORY LICENSING ARRANGEMENTS BETWEEN SOUND RECORDING COPYRIGHT OWNERS AND SERVICES PERFORMING THEIR SOUND RECORDINGS, AND COLLECTS AND DISTRIBUTES ROYALTIES RECEIVED FROM FOREIGN COLLECTIVE MANAGEMENT ORGANIZATIONS ON BEHALF OF ITS MEMBERS.”

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