San Francisco Ballet Association

“Any natural person shall be eligible to be a member of the Association (a "Member") but no legal person which is not a natural person, such as a foundation, trust, corporation or partnership, shall be eligible to be a Member. A natural person may become a Member by making a minimum contribution to the Association, the amount of such minimum contribution to be determined from time to time by resolution of the Board. In the case of a contribution in property, the determination of the Board or a Committee of the Board, Subcommittee, Advisory Committee or other person to whom this responsibility is delegated by the Board, as to the value of the property for membership purposes shall be conclusive. The Board may in its discretion waive the minimum contribution in the case of a person who has made intangible contributions to the Association in the past. The term for each Member as a Member shall commence when the person makes the requisite contribution to the Association (or the contribution is waived) and shall continue for a period of 12 months thereafter, at the expiration of which period it shall expire.”

“Trustees of the Association are elected by the Members for a term of three years.”

“Members shall have, in addition to any other rights which may be granted to them under these By Laws or by law, the right to vote (1) for the election of Trustees, (2) on a disposition of all or substantially all of the Association's assets, (3) on a merger of the Association with another corporation, (4) on a dissolution of the Association, (5) on an amendment of the Articles of Incorporation and, (6) on an amendment of these By Laws (unless the By Law amendment is approved by the Board alone in accordance with the terms of the By Laws).”

“The Form 990 was prepared based on audited financial statements by the organization's finance and accounting staff, which was then reviewed by Grant Thornton, LLP. The Association provided a complete copy of this form to all members of its governing body with a redaction of donor names and addresses from Form 990, schedule B, at the request of the donor. The Form 990 was reviewed and approved at a meeting of the Audit Committee. Subsequent to that review, the Form 990 was posted to the Association's Trustee intranet website and Trustees were notified in writing of the availability of the Form 990 for their review.”

“Questionnaires are issued annually to all employees, Trustees and others who have an annual reporting requirement under the policy. Responses are monitored and outstanding forms are followed up on until received. Upon receipt, the form is reviewed by the HR Manager (for employees) and the Board Relations Manager (for Trustees) for any known issues or relationships that need to be highlighted. Forms are further reviewed by the CFO. Matters requiring attention are reported to the Executive Director who may further report the matter to the Board Chair. Persons with a conflict are recused from discussions and do not vote on resolutions that pertain directly to their conflict.”

“Compensation and benefits for the Association's Executive Director and CFO are negotiated with the Association's Assessment Committee on an annual basis. Performance is reviewed on an annual basis by the Assessment Committee and documented via meeting minutes by the Board Assistant Secretary with recommendations given to the Board. Reviews occur (1) initially upon the hiring, (2) whenever the term of employment, if any, of such officer is renewed or extended, and (3) whenever such officer's compensation is modified; provided, however, that separate review and approval pursuant to clause (3) shall not be required if a modification of compensation extends to substantially all employees of the Association. When reviewing compensation, the Assessment Committee also uses external comparisons for similar positions at similar organizations of similar size that are available online. Compensation and benefits for key employees are determined largely on whether they are union or non-union employees. For union employees, compensation and benefits are based on the collective bargaining agreements which are regularly renegotiated every three to five years (depending on the union). For non-union employees, compensation and benefits are negotiated on an individual basis upon initial hire with annual performance reviews thereafter documented with the employee's direct supervisor using the organization's standard forms on an annual/regular basis. Compensation for non-union employees are reviewed using external comparisons for similar positions at similar organizations of similar size that are available online.”

“Due to the age of the Organization, Form 1023 is currently unavailable for the general public and the Organization is exempt from the requirement to provide Form 1023, as it was filed prior to the July 15, 1987 requirement date. The Organization currently makes its audited financial statements for the most recent ten years available to the public via its website. Form 990, governing documents and conflict of interest policy are also available upon request.”

“We seek to enhance our position as one of the world's finest dance companies through our vitality, innovation, and diversity, and through our uncompromising commitment to artistic excellence based in the classical ballet tradition.”

“San Francisco Ballet is America's oldest professional ballet company and one of the three largest ballet companies in the United States. The mission of the Ballet is to share the joy of dance with its community and around the globe and to provide the highest caliber of dance training in its School. Led by Artistic Director and Principal Choreographer, Helgi Tomasson, SF Ballet is accompanied by its own orchestra and operates one of the country's most prestigious schools of ballet. Today we build on our heritage of commissioning groundbreaking dance from today's top choreographers, by uncovering new choreographic talent, and by staging modern classics and the works that make up the canon of classic ballet. Our approach defines ballet in the 21st century and it makes San Francisco Ballet the essential place to see the most adventurous dance in America. Guided in its early years by American dance pioneers the brothers Lew, Willam, and Harold Christensen, San Francisco Ballet currently presents more than 100 performances annually, both locally and internationally.”

“A prior period adjustment between Unrestricted net assets and Temporarily restricted net assets was recorded during the fiscal year in the amount of $1,869,945. The adjustment was the cumulative effect of change in accounting for fixed assets acquired with donor restricted funds in accordance with ASU 2016-14.”

“Other changes in Net Assets consist of reversals of prior year grants of ($131,194), unrealized loss on interest rate swap of ($1,518,665), ($56,477) of event expenses reported on the Endowment Foundation form 990, ($407,603) change in post-retirement benefit obligation and $97,467 change in discount.”