Fox Tucson Theatre Foundation

“Form 990 is prepared by an independent cpa. A draft is provided to the president, treasurer, and contracted controller for review prior to completion. A copy is then provided to all members of the board prior to filing.”

“New board members are interviewed for potential conflicts of interest and provided a copy of the conflict of interest policy. Directors are also required to annually acknowledge receipt of the policy and disclose any potential conflicts of interest.”

“Form 990, part vi, section b, line 15: the foundation's board of directors undertook a compensation study utilizing comparability data to determine the executive director's salary in 2010.”

“The foundation makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Equity earnings in subsidiaries 716,731.”

“This return is being amended to reflect the reduction in principal and interest on the outstanding loan from the rio nuevo multipurposes facilities district as a contribution. The loan modification was in process when the original form 990 was filed. The primary changes as a result of the loan modification include $3,995,402 increase to part viii, line 1e government grants, $151,090 decrease to part ix, line 20 for 2014 interest expense, $1,246,492 decrease to part x, line 17, column b for accrued interest expense, and $2,900,000 decrease to line 25 other liabilities, column b for loan principal. Other parts and schedules of this return were also amended because of the changes noted above. The following parts and schedules of the return have been amended: * part i, line 8 - contributions and grants have increased. * part i, line 17 - other expenses have decreased. * part iii, line 4a expenses - updated to reflect the revised program expense total from part ix. * part viii, line 1f all other contributions - reclassified a $313,185 contribution from rio nuevo from part viii, line 1f all other contributions to part viii, line 1e government grants. This is a reclassification not related to the above transaction. * part x, line 27, column b - unrestricted net assets has increased due to the revised net income. * schedule a, part ii, section a, line 1, column e - gifts, grants and contributions have increased to include the additional contribution. * schedule b, part 1 - the contribution from rio nuevo multipurposes facilities district has been revised to include the contribution resulting from the loan modification. Also, the other donors have been removed as they are no longer over 2% of total contributions. * schedule d, part x, other liabilities - the debt from rio nuevo multipurposes facilities district has been updated to its revised balance.”