Old Globe Theatre

“All persons who have paid the annual or other membership fee, which shall from time to time be prescribed by the board of directors, shall be full members of this corporation for the period covered by the fee. There shall be only one class of members, the rights and privileges of which shall be uniform and equal.”

“Members shall have no property rights in the property of the corporation. Members shall be entitled to (i) receive notice of the annual and other meetings of members, (ii) receive such financial statements and other information concerning the corporation which the board of directors shall elect to disseminate, (iii) attend, participate, and vote at meetings of members, in person or by proxy, only for directors of the corporation and for the number of directors, if the number is changed.”

“Director of finance (corporate officer) and tax preparer complete 990, which is reviewed by the managing director. After management's approval of the 990, each member of the board of directors is provided access to the public disclosure copy of the 990 prior to filing the return with the irs.”

“Potential conflicts of interest are reviewed and determined at the board of director and officers level. Each director and principal officer annually signs a statement which affirms that such person: has received a copy of the conflicts of interest policy, has read and understands the policy, has agreed to comply with the policy, and understands that the old globe is a charitable organization and that in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes. If a conflict arises, that board member can not vote on the transaction.”

“The contracts for the artistic and managing directors are negotiated by the executive committee of the board of directors. Their process includes a performance appraisal, consideration of salary surveys of comparable institutions, as well as peer discussion with boards of other major performing arts organizations. The most recent contract for the managing director covers 1/1/21-12/31/25. The most recent contract for the artistic director covers 1/1/21-12/31/25. A written substantiation is held in the files of the organization's independent attorney. The salary of the director of finance is approved by the executive committee. The managing director uses the organization's formal appraisal process, on-going evaluations, and comparability information from the annual theatre communications group salary survey for each corporate officer and/or key employee. Positions include general manager, senior producer, director of arts engagement, director of philanthropy, director of human resources, director of marketing and communications, director of finance, and director of edia. This annual process has been in place since year-beginning 2004. Contemporaneous substantiation is a final new salaries document which is signed by the managing director and director of human resources, then forwarded to human resources and payroll for implementation.”

“Audited financial statements are available on the organization's website or upon request. Governing documents and the conflict of interest policy are available upon request.”

“Loss on uncollectible pledge -598,520.”