San Francisco Symphony

“Two members of the board, doris fisher and sakurako fisher, are related by marriage.”

“On behalf of the board of governors, the audit committee shall have the responsibility to review the symphony's form 990 before filing with the internal revenue service. The committee is provided with a complete copy of the filing, including all supporting schedules and attachments. A meeting of the audit committee (either in person or via electronic means) shall be held to review the 990 form with management and/or the preparers. All questions, comments and suggested revisions set forth by the audit committee will be documented along with the responses, if applicable, and the filing updated or revised as necessary.”

“The symphony's conflict of interest policy covers members of the board of governors and the executive leadership team. The policy is reviewed annually by the audit committee. Per the policy, each board member and executive team member complete an annual disclosure form to identify existing or potential conflicts of interest.”

“The human resources committee (committee) of the board of governors determines the compensation package of the chief executive officer (ceo), the music director, and the chief financial officer (cfo) of the symphony. The committee will meet annually to review and approve the compensation and benefit packages for the ceo and cfo. The committee relies on comparability data prepared by the director of human resources for the same or similar positions in comparable orchestras in the united states and similar positions for non-profits in the san francisco bay area. Similarly, the committee provides guidelines for negotiation of collective bargaining agreements, including total cost guidelines developed in consultation with the finance committee.”

“The required organizational documents of the symphony will be available (for inspection or copying) at davies symphony hall during normal business hours at no charge. The public inspection copy of the symphony's form 990 and the audited financial reports, from the previous five years (at a minimum), will be available (for inspection or copying) at davies symphony hall during normal business hours at no charge. When responding to a public inspection request for financial statements or the form 990 by anyone, the symphony shall fulfill such request in a timely fashion without inquiring as to the reason for the public inspection request. In addition, the symphony's form 990 is available to the public on the internet at guidestar and on the company's main website.”

“Reference form 990, part iii, line 4b for detailed description.”

“Guests artists and conductors: program service expenses 5,500,465. Management and general expenses 0. Fundraising expenses 169,169. Total expenses 5,669,634. Consulting: program service expenses 2,468,695. Management and general expenses 195,016. Fundraising expenses 429,831. Total expenses 3,093,542.”

“Change in pension benefit liabilities -22,558,737.”

“The process has not changed from the prior year.”

“During the fiscal year ended august 31, 2019, management engaged the advice of external legal counsel and conducted a detailed internal review of historical gift agreements and the associated accounting treatment of such gifts. As a result of this review, management concluded that certain donor documentation could be interpreted as requiring classification as "with donor restrictions" under u.s. Gaap. As such, certain prior year gifts that were originally deemed without donor restrictions and included as part of the board designated endowment, were recategorized to the endowment net assets with donor restrictions based on the legal interpretation of donor intent. Management also determined that certain capitalized costs in prior fiscal years related to work in progress should have been recorded as expense. As a result, property and equipment and net assets without donor restrictions - property fund were restated.”