Bruce Springsteen Archives and Center for American Music Corporation

“Robert santelli, executive director, is a non-voting member of the board of directors.”

“Lisa mckean and michael a. Plodwick are trustees of monmouth university. Grey j. Dimenna is a former president and trustee of monmouth university. Barbara carr and jon landau are employees of jon landau management, inc., bruce springsteen's professional manager. Patrick f. Leahy, richard f. Veit, jr. And john j. Christopher are employees of monmouth university. Don friedman is an attorney for bruce springsteen. Marilyn laverty is bruce springsteen's publicist.”

“The university (the "member") shall be the sole corporate member of the center as long as the university is an organization described in sections 501(c)(3) and 509(a) of the internal revenue code of 1986, as amended.”

“The business and affairs of the center shall be managed by or under the direction of its board of directors. The number of directors constituting the entire board of directors shall be fifteen (15), comprised of the following: the president of monmouth, appointed ex officio; the chair of the springsteen archives advisory board, appointed ex officio (the "ex officio directors"); six (6) members nominated by the member's board of trustees (the "member" nominees"); four (4) members nominated by bruce springsteen ("springsteen") or his designee (the "springsteen nominees") and three (3) members nominated by a majority of the ex officio directors, the member nominees and the springsteen nominees (the "outside nominees"). The executive director of the center shall be an ex officio, nonvoting member of the board. Directors other than those who are appointed ex officio shall serve staggered terms. Up to five of those directors appointed in the first year (only one of which may be a springsteen nominee) shall be appointed to a term of one year. As used in this article, "entire board of directors" means the total number of directors entitled to vote which the center would have if there were no vacancies. At each of its annual meetings in june, the member shall approve the slate of nominees provided under section 3.02(a), which directors shall hold office for two year terms which are renewable. Ex officio directors serve by virtue of their office without the need for separate election. If any of the springsteen or outside nominees shall be rejected by the member, a new nominee(s) shall be sought from the party making the rejected nomination. Each director shall have one vote. Directors shall not vote by proxy.”

“A draft of form 990 is sent via email to all directors and officers for review and comment. All directos and officers receive an emailed copy of the final version of form 990 prior to filing.”

“The center has a provision in its bylaws which deals with conflicts of interest. Directors and officers complete an annual disclosure statement setting forth their business and other interests. A director or officer who learns about a potential conflict of interest should disclose promptly to the secretary of the center. The board shall review the material facts surrounding any potential conflicts and approve only those contracts and transactions in which the terms are in the best interests of the center and on a fair market value basis. The board shall set forth the basis for its decision with respect to approval of contracts or transactions involving conflicts of interest in the minutes of the meeting at which the decision is made. A detailed conflict of interest policy was adopted by the board at its september 2019 meeting.”

“The center does not have its own employees or its own payroll. All employees providing services to springsteen center receive their w-2s from a related organization, monmouth university ("the university"). Executive director, robert santelli, is an unpaid volunteer, and no directors or officers receive a direct salary from the center. The process for determining compensation for the president of the university, patrick f. Leahy, is set forth in the university's executive compensation policy and the monmouth university compensation committee document entitled "responsibilities of the committee and members of the committee". Pursuant to that policy, the university board's compensation committee (all of whom are independent) and the vice president and general counsel, review comparable compensation data provided by an independent outside consultant and make compensation recommendations to the full board of trustees as to the compensation for the president of the university. Minutes of both the compensation committee and the board of trustees meetings concerning such actions are reviewed and approved by both bodies.”

“The center currently does not make its governing documents, conflicts of interest policy and financial statements available to the public. Irs form 990 is available upon request.”

“The center does not have its own employees or its own payroll. All employees providing services to the organization receive their w-2s from a related organization, monmouth university inc, expenditures reported on part ix, lines 7 represent the portion of salary expenditures allocated to the center based on services rendered to the organization. The center reimburses monmouth university inc for expenses paid by monmouth but incurred on behalf of the center. Any required reporting of forms w-2 or 1099 are handled by monmouth as the paying agent for such transactions.”

“The bruce springsteen archives and center for american music corporation (the "center") is amending its 2020 form 990 for fiscal year ending 6/30/2021. The updated form 990 is reflective of revised dollar amounts for three individuals' nontaxable benefits reported in part vii and schedule j. The specific changes and individuals are listed below: 1. Form 990, part vii, section a: partrick leahy, chairperson/director - original form 990: $104,720 - amended form 990: $181,677 john christopher, secretary - original form 990: $54,417 - amended form 990: $54,457 richard veit, director - original form 990: $55,135 - amended form 990: $55,174 2. Form 990, schedule j, part ii, column (d): partrick leahy, chairperson/director - original form 990: $81,920 - amended form 990: $158,877 john christopher, secretary - original form 990: $33,449 - amended form 990: $33,489 richard veit, director - original form 990: $40,668 - amended form 990: $40,707”