Mct Inc.

“The finance committee reviews the audited financials with the auditors. All members of governing body receive a copy of the audited financials. The 990 is prepared by the auditing firm. The board of directors receive a copy of the 990 via e-mail once it is prepared or in person at a board meeting depending on timing of the meeting.”

“All directors, officers, and employees of mct who can influence the actions of the organization are required to review and sign a conflict of interest policy annually. In addition, conflicts of interest are discussed before any new material transaction occurs. Ongoing transactions are also reviewed to ensure there are no new conflicts. Potential conflicts of interest are disclosed to the executive director or ceo (or if the ed or the ceo is the one with the conflict, then to the board president) to determine whether a conflict exists and in the case of an existing conflict, whether the contemplated transaction may be authorized as just, fair, and reasonable to mct and the advancement of its purpose. Any person with a conflict of interest is excluded from the discussion and approval of such transaction.”

“The board incorporates comparability data in its determination of officer and key employee salaries.”

“Mct makes its governing documents, conflict of interest policy and financial statements available to the public upon request. The 990 is published on guidestar.”

“We added a product called playdate create where presenters use the materials provided to put on their own play since we were unable to tour to the town. It didn't generate a lot of revenue, but it kept presenters engaged and gave us an additional product that we may continue to use going forward.”

“For tour, our volume was significantly reduced due to covid, but we didn't cease offering our usual suite of services. Instead of the usual 1,100 residencies, we were able to complete only 70. We were unable to host pac or next step prep in fy21. Pac returned in fy22, but next step prep has not yet come back. We anticipate it next summer, fy23. We were not able to carry out our community theatre season. We offered small cast shows with a significantly reduced audience, with streaming offered, throughout the year. The children's programming continued but was only performed to a streamed audience for most of the year. For fy23, we are back to performing for larger audiences. We also did not rent the facility as usual for fy21. We have one year-round tenant, but we didn't allow events or dance studios during that period of time.”

“This process has not changed since last year.”