Djerassi Resident Artists Program

“Board members Dale Djerassi and Alexander Djerassi are related as father and son.”

“FORM 990 IS PREPARED BY AN OUTSIDE TAX PROFESSIONAL. THE FORM IS THEN REVIEWED BYTHE ORGANIZATION'S MANAGEMENT, the organization's audit committee, AND THE EXECUTIVE DIRECTOR. THIS GROUP OF INDIVIDUALS DISCUSSES THE CONTENTS OF THE RETURN WITH THE OUTSIDE TAX PROFESSIONAL. AFTER A FULL REVIEW, THE FINAL VERSION OF THE TAX RETURN IS PROVIDED TO ALL MEMBERS OF THE ORGANIZATION'S VOTING BODY. A REPRESENTATIVE OF MANAGEMENT AUTHORIZES THE FINAL FORM 990 WHICH IS THEN E-FILED WITH THE INTERNAL REVENUE SERVICE.”

“Members of the board of directors review all potential conflicts of interest atleast annually. All personnel and board members are required to disclose (inwriting) potential conflicts and any related party affiliations. Loans between theorganization and members of management and the board are strictly prohibited. Theorganization seeks full transparency on all relationships. Any potential conflicts (in fact or appearance) are discussed openly and resolved in accordance with the organization's policies and procedures.”

“Members of the board of directors review the compensation of all high-level personnel periodically in accordance with irs rules and regulations. Efforts are made to secure compensation data from industry sources in order to determine competitiveness and appropriateness of salaries. Every effort is made to ensure that the process is thorough and transparent in accordance with irs guidelines and the organization's policies and procedures.”

“Compensation of other high-level personnel and key employees is reviewed periodically by members of management. Efforts are made to secure compensation data from industry sources in order to determine competitiveness and appropriateness of salaries and all related benefits. All decisions are then documented in personnel files.”

“All of the organization's governing documents, financial statements and other legalfilings are maintained in a secure environment and held available for inspection bytax authorities and the general public. Tax returns are posted annually towww.guidestar.org (where they are available for viewing as electronic copies) and are also available for a physical inspection at the organization's office in woodside, california.”

“Change in discount on long-term receivables = $949”

“In connection with the occupation of its facilities in Woodside, California, four employees who manage the property and day-to-day residency operations are provided with room and board. Djerassi has an ongoing commitment to provide its Executive Director and other staff with the gratis use of part of a building as a personal residence. Djerassi (as the employer) requires its executive director to live on-site to maintain a physical presence at the facility in case of emergency, as well as to oversee the art programs and workshops, and promote community relationships. The Djerassi Program houses up to 12 artists/4 week sessions, March-November, and approximately 6 artists/4 weeks, December February of each year. Other staff who may include the resident manager(s), program assistant, the administrative assistant and deputy program director are also required to live on-site to provide direct oversight and assistance to artists-in-residence, and further ensure the safety and security of the artists and the facilities. Djerassi has relied on Internal Revenue Code Section 119 and Revenue Ruling 75-540 which covers the tax ramifications regarding the value of lodging furnished by an employer for the convenience of the employer.”