San Francisco Opera Association

“Thomas a. Larsen, director, has a business relationship with george h. Hume, director. Carol pucci doll, director, has a family relationship with dixon doll, director. Thomas a. Larsen, director, has a business relationship with john a. Gunn, director and chairman. Bill russell-shapiro, director, has a family relationship with c.p. Russell, director. Bill russell-shapiro, director, has a business relationship with franklin "pitch" johnson, jr., officer and chairman emeritus. Karl o. Mills, director, has a business relationship with various directors, via an investment advisory firm and one director is a shareholder. Dr. William m. Coughran, jr., officer and treasurer, has a business relationship with keith b. Geeslin, officer and president. Sarah fenton, director, has a family relationship with peter fenton, director. Hon. Richard c. Livermore, director, has a family relationship with mrs. Cynthia snorf livermore, director. Keith b. Geeslin, officer and president, has a business relationship with francisco partners, a private equity investment firm, of which the opera's investment committee has committed to invest. Mr. Geeslin recused himself from voting on the decision to invest in the fund and from voting on future decisions that affect the fund.”

“The by-laws of the san francisco opera association were amended to include the following changes: section 4.02 limits terms for officers. Section 5.02 limits the number of executive committee members, establishes who can elect members of the executive committee, establishes who can call meetings of the executive committee, and makes the executive committee responsible for the recommendation to the board appointments of general director.”

“As part of the opera's internal review process, the filing version of the form 990 is presented to the opera's audit committee for discussion and comment. Prior to filing, the public disclosure version of form 990 is sent to all board of directors for their review. Any comments are reviewed by management. But for the redacted contributor names and addresses, the answer to question 11a would be, "yes."”

“The opera has a written conflict of interest policy. All officers, directors and key employees must comply with the policy and are sent the conflict of interest policy annually. Any reported conflicts are reviewed and resolved promptly.”

“There is an annual review of compensation for officers by the compensation committee. The committee is composed entirely of board members who are independent individuals and comparable data is used to evaluate the appropriateness of the compensation.”

“The conflict of interest policy, code of conduct, and three years of audited financial statements are available on the san francisco opera website (www.sfopera.com). A copy of the 990 is available by request or on the guidestar website (www.guidestar.org).”

“Donated property -expensed over useful life -219,164.”

“The audit committee is responsible for the oversight of the financial statement audit and selection and recommendation to the board to the independent accounting firm. The committee held three meetings with board members, officers of the opera, and independent auditors.”