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 by the organization's management. 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 periodically. Top management and all Board members are required to disclose potential conflicts and any related party affiliations. The organization 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 personnel and highly compensated 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.”

“Tax returns are available for download from several websites and by request from the organization's office in Woodside, California.”

“All of the organization's governing documents, financial statements, and other legal filings are maintained in a secure environment and held available for inspection by tax authorities and the general public. Tax returns are posted annually to our website and to www.guidestar.org (where they are available for viewing as electronic copies) and are also available by request from the organization's office.”

“Change in discount for long-term pledges = -$2113”

“Write off of net assets with restrictions = -$8500”

“Under the California Nonprofit Integrity Act, an exempt organization with annual revenue of $2 million or more is required to have an Audit Committee to select an audit Firm, review the audit, and approve the audit of its annual financial statements. The audited financial statements are prepared by a qualified and licensed independent audit firm. The audit report is reviewed and approved by the organization's management and the Board of Directors.”

“In connection with the occupation of its facilities in Woodside, California, two to 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 staff 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 traditionally 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 can also 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.”