Peninsula Youth Orchestra

“President/General Manager Sara Salsbury and Treasurer Phil Salsbury are husband and wife. Both are directors and Sara Salsbury is an employee.”

“Members are defined in the bylaws as the parents or legal guardians of students who participate in any of the organization's orchestras.”

“Before Form 990 is is filed, the treasurer reviews and approves the return which has been prepared by an outside CPA. Before filing, copies are emailed to all board members. The return is also presented for review and discussion at the first regular board meeting following its filing.”

“At the beginning of each season outside counsel presents an overview of board members' legal responsiblities, including those covered by the organization's Conflict of Interest policy. Board members are then required to complete and sign an annual Conflict of Interest and Disclosure Statement which alerts the board to any possible conflicts of interest that may arise that season in the normal course of business.”

“Salaries of the President/General Manager and of the Music Director are set by the board of directors each year as part of the annual budgeting process. The board reviews the salary history of each over the past several several years. Data on salaries of comparable positions at similar organizations is gathered and reviewed, making use of informal contacts and official salary surveys available from industry associations. Salaries are set by the independent board members, and the action documented in the board minutes of that meeting.”

“Documents are made available to the public upon request. Copies of certain documents(bylaws) have been made available to our members from time to time.A summary of the annual financial statement is often presented at the annual meeting of members.”

“Client Note 1 - OTHER REVENUE: TOUR AND CAMP INCOMETOTAL COLLECTED FOR 2014 TOURS PLUS 201 SUMMER CAMP $ 376,124 LESS: TOTAL EXPENSES PAID OUT (333,586) EXCESS OF RECEIPTS OVER EXPENSES $ 42,538”