2024-11-15T14:06:40-06:00 2023-12-31 WITHUMSMITHBROWNPC 4600 EAST WEST HWY 900 BETHESDA MD 208143423 990 2023-01-01 367630013 SAG-AFTRA & INDUSTRY SOUND RECORDINGS DISTRIBUTION FUND % LEI BOWEN SAG- 8182557980 4705 LAUREL CANYON BLVD 400 VALLEY VILLAGE CA 91607 LEI BOWEN CHIEF FINCL. OFFICER 8182557980 2024-11-15 true true RICHARD RUVELSON P00234075 3012726000 2023 2024-10-15 13:58:12Z DAVID WALSH 4705 LAUREL CANYON BLVD 400 VALLEY VILLAGE CA 91607 25728286 false X N/A X 2013 NY Established for the purpose of receiving and distributing payments in accordance with the SAG-AFTRA National Code of Fair Practice for Sound Recordings. 4 4 0 4 0 0 0 0 21018315 23553243 510445 2175043 0 0 21528760 25728286 0 0 0 0 0 0 0 0 0 20923933 18199288 20923933 18199288 604827 7528998 51642461 61674983 10163974 12491326 41478487 49183657 X SEE SCHEDULE O false false The collection of royalties based upon revenues from the permanent and non-permanent digital download of sound recordings and the exploitation of music videos by permanent and non-permanent (tethered) digital downloads and streaming, as well as from audio streaming of sound recordings not subject to compulsory licensing. false false false false false false false false false false false false false true true true false false false false false false false false false false false false false false false false false false false false false false false false false false false true 282 0 true 0 false false false false false false false false X 4 4 true false false false false true false true false false false true true true true true true false false false CA X LEI BOWEN 8182557980 4705 LAUREL CANYON BLVD 400 VALLEY VILLAGE CA 91607 X X DUNCAN CRABTREE-IRELAND UNION TRUSTEE/CHAIRMAN 5.0 0.0 X X 0 0 0 JANICE PENDARVIS UNION TRUSTEE 5.0 0.0 X 0 0 0 DAVID WALSH INDUSTRY TRUSTEE 5.0 0.0 X 0 0 0 TRACIE PARRY INDUSTRY TRUSTEE 5.0 0.0 X 0 0 0 0 0 0 0 false false false AFM SAG-AFTRA INTELLECTUAL PROPER 4705 LAUREL CANYON BLVD SUITE 400 VALLEY VILLAGE CA 91607 ADMIN SERVICES 2042234 1 0 ROYALTY RECEIPTS 900099 23553243 23553243 23553243 2175043 2175043 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 25728286 23553243 0 2175043 0 0 0 0 0 0 0 0 0 0 0 195 39883 0 0 0 1378461 0 128544 28464 0 184737 0 0 0 0 0 0 140972 DISTRIBUTION EXPENSE 16298032 18199288 5500000 5500000 33990275 46709785 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 12152186 9465198 0 0 0 0 0 0 0 0 51642461 61674983 232506 57582 0 0 0 0 0 0 0 0 0 0 0 0 0 0 9931468 12433744 10163974 12491326 X 0 0 0 0 41478487 49183657 41478487 49183657 51642461 61674983 7528998 176172 X X false true X false false 0 DISTRIBUTIONS PAYABLE 12433744 12433744 X 25904458 176172 176172 25728286 25728286 18199288 18199288 18199288 PART X, LINE 2 - FIN 48 FOOTNOTE: Accounting principles generally accepted in the United States of America require management to evaluate tax positions taken and recognize a tax liability if the Fund has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. Management has evaluated the tax positions taken by the Fund, and concluded that as of December 31, 2023 and 2022, there are no uncertain positions taken or expected to be taken that would require recognition or disclosure in the financial statements. The Fund is subject to routine audits by taxing jurisdictions; however, there are currently no audits in progress for any tax periods. In addition, there have been no tax related interest or penalties for periods presented in these financial statements. Should such penalties and interest be incurred, the Fund's policy would be to recognize them as administrative expenses. PART III, LINE 1 - ORGANIZATION'S MISSION: THIS FUND IS ESTABLISHED FOR THE PURPOSE OF RECEIVING AND DISTRIBUTING SAG-AFTRA SOUND RECORDINGS CODE DIGITAL EXPLOITATION PAYMENTS AND LICENSE PAYMENTS IN ACCORDANCE WITH THE SAG-AFTRA SOUND RECORDINGS CODE AND TO PROVIDE THE MEANS FOR FINANCING THE OPERATION AND ADMINISTRATION OF THE TRUST FUND. AS THE DIFFICULTIES IN ADMINISTERING AND DISTRIBUTING SAG-AFTRA SOUND RECORDINGS CODE DIGITAL EXPLOITATION PAYMENTS AND LICENSE PAYMENTS REPRESENT A PROBLEM OF MUTUAL CONCERN TO PERFORMERS AND RECORDING COMPANIES THAT IS NOT SUSCEPTIBLE TO RESOLUTION WITHIN THE COLLECTIVE BARGAINING PROCESS. THIS TRUST FUND SHALL BE GOVERNED BY A BOARD OF TRUSTEES, WHICH SHALL CONSTITUTE A LABOR MANAGEMENT COMMITTEE WITHIN THE MEANING OF THE LABOR MANAGEMENT COOPERATION ACT OF 1978, AND THE LABOR MANAGEMENT RELATIONS ACT OF 1947, AS AMENDED. PART VI, SECTION A, LINE 2 - BUSINESS RELATIONSHIPS: TRUSTEES JANICE PENDARVIS AND DUNCAN CRABTREE-IRELAND HAVE A BUSINESS RELATIONSHIP THROUGH SAG-AFTRA NATIONAL. PT VI,SECTION A,LN 7-POWER TO ELECT OR APPOINT GOVERNING BODY: THE UNION TRUSTEES AND UNION ALTERNATE TRUSTEE SHALL BE APPOINTED BY SAG-AFTRA. THE INDUSTRY TRUSTEES AND INDUSTRY ALTERNATE TRUSTEE SHALL BE APPOINTED BY THE INDUSTRY SETTLORS, WHICH COMPRISE THOSE RECORDING COMPANIES AND THEIR SUCCESSORS IN INTEREST COVERED UNDER THE OPERATING TRUST. ANY TRUSTEE OR ALTERNATE TRUSTEE MAY BE REMOVED BY SAG-AFTRA OR INDUSTRY SETTLORS AT ANY TIME, WITHOUT CAUSE. PART VI, SECTION A, LINE 8B - OTHER COMMITTEES WITH AUTHORITY: THERE ARE NO OTHER COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE FUND. PART VI, SECTION B, LINE 11B - REVIEW PROCESS OF FORM 990: THE FORM 990 IS PREPARED BY AN INDEPENDENT CPA FIRM. A DRAFT OF THE FORM 990 IS SENT TO THE CONTROLLER FOR REVIEW AND APPROVAL. ONCE APPROVED, THE RETURN IS FILED WITH THE IRS. A COPY OF THE FORM 990 IS DISTRIBUTED TO THE FULL BOARD OF TRUSTEES AND LEGAL CO-COUNSEL OF THE FUND AFTER FILING. PART VI, SECTION B, LINE 12C - CONFLICT OF INTEREST POLICY: 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. PART VI, SECTION C, LINE 19 - AVAILABILITY OF GOVERNING DOCUMENTS THE FUND WILL MAKE AVAILABLE COPIES OF THEIR GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS UPON REQUEST AND REVIEW BY THE BOARD. PART XII, LINE 1 - OTHER ACCOUNTING METHOD: The accompanying 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 to the American Federation of Musicians (AFM) & SAG-AFTRA Intellectual Property Rights Distribution Fund (IPRDF) and distributions payable.