Afm & Sag-Aftra Intellectual Property Rights Distribution Fund

“The fund does not have any committee with authority to act on behalf of the governing body.”

“The form 990 was reviewed by the controller of the organization prior to filing with the irs. A copy of the form 990 was distributed to the full board of trustees after the filing with the irs.”

“The fund's conflict of interest policy authorizes an annual review of the administration of the policy, and trustees are periodically asked to disclose interests or relationships that could give rise to a conflict of interest.”

“The trustees reviewed and approved the fund administrator's compensation based on the fund administrator's performance and a comparison to executive compensation at several funds comparable in size, resources and mission.”

“All employee compensation is the result of comparative analysis by the human resources department and is reviewed and approved by the trustees.”

“The fund posts its distribution guidelines and financial statements on its web site, which is www.afmsagaftrafund.org. Information such as governing documents and conflict of interest policy are available to the public upon request.”

“The consolidated financial statements have been prepared on the modified cash basis of accounting; a comprehensive basis of accounting other than accounting principles generally accepted in the united states of america. Revenue and related assets are recognized when cash is received rather than when earned, and expenses are recognized when paid rather than when the obligations are incurred, except for amounts due from related parties, amounts due from the sag-aftra and industry sound recording distribution fund (the "srdf"), distributions approved by the trustees for payment, reporting investments at fair value, notes payable, security deposits made and held, receivables and payables resulting from transactions with real estate property management, and the capitalization and depreciation and amortization of property and equipment.”

“The board of trustees assumes responsibility for oversight of the audit,review of the fund's financial statements and the selection of independent accountant.”