2024-11-09T18:11:13-06:00 2023-12-31 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 245 PARK AVENUE 12TH FLOOR NEW YORK NY 10167 990 2023-01-01 131978163 FOUNDATION FOR CONTEMPORARY ARTS INC FOUN 2128077077 820 GREENWICH STREET 4TH FLOOR NEW YORK NY 10014 KAY TAKEDA EXECUTIVE DIRECTOR 2128077077 2024-11-09 1 1 EVA MRUK P00543254 2122862600 2024-11-05 2023 2024-10-15 13:58:12Z KAY TAKEDA 820 GREENWICH STREET 4TH FLOOR NEW YORK NY 10014 8260141 0 X WWW.FOUNDATIONFORCONTEMPORARYARTS.ORG X 1963 NY TO ENCOURAGE, SPONSOR, AND PROMOTE INNOVATIVE WORK IN THE ARTS. 11 11 11 17 0 0 7390955 5575900 0 0 661807 1155130 898 -297314 8053660 6433716 1523695 1539400 0 0 914630 1029894 15500 89905 668367 337840 604484 2791665 3263683 5261995 3170033 41728764 50346689 1036119 1080504 40692645 49266185 X TO ENCOURAGE, SPONSOR, AND PROMOTE INNOVATIVE WORK IN THE ARTS CREATED AND PRESENTED BY INDIVIDUALS, GROUPS, AND ORGANIZATIONS. 0 0 1299606 1035000 0 GRANTS TO ARTIST:UNRESTRICTED, $45,000 CASH AWARDS INTENDED TO PROVIDE RECIPIENTS THE FINANCIAL MEANS TO ENGAGE IN WHATEVER ARTISTIC ENDEAVORS THEY WISH TO PURSUE. RECIPIENTS ARE CHOSEN ANNUALLY THROUGH A CONFIDENTIAL PEER NOMINATION PROCESS, STAFF RESEARCH, AND SELECTION BY A COMMITTEE COMPRISING FCA'S BOARD AND GUEST EXPERTS. IN 2023, 23 GRANTS WERE MADE TO INDIVIDUAL ARTISTS. 11 OF THESE AWARDS ARE NAMED AFTER AND IN MEMORY OF ARTISTS: JOHN CAGE, MERCE CUNNINGHAM, VIOLA FARBER, HELEN FRANKENTHALER, ROY LICHTENSTEIN, ALVIN LUCIER, RICHARD POUSETTE-DART, ROBERT RAUSCHENBERG, DOROTHEA TANNING, CY TWOMBLY, AND C.D. WRIGHT. THE CAGE AND CUNNINGHAM AWARDS ARE MADE IN ALTERNATING YEARS. 638993 389400 0 EMERGENCY GRANTS:THESE GRANTS ARE AWARDED ON A ROLLING BASIS TO ARTISTS AND COLLECTIVES WHO INCUR UNEXPECTED EXPENSES WHEN PROJECTS ARE CLOSE TO COMPLETION OR RECEIVE SUDDEN OPPORTUNITIES TO PRESENT THEIR WORK TO THE PUBLIC. EMERGENCY GRANTS RANGE FROM $500 TO $3,000. APPLICATIONS ARE RECEIVED ON A ROLLING BASIS THROUGH AN OPEN APPLICATION PROCESS. STAFF REVIEW APPLICATIONS FOR ELIGIBILITY, AND AN ARTIST PANEL IS CONVENED MONTHLY TO REVIEW AND DETERMINE GRANT RECIPIENTS. IN 2023, FCA MADE 208 EMERGENCY GRANTS TOTALING $389,400. 78491 70000 0 CONTEMPORARY VISUAL ARTS SCHOLARSHIP (CVAS):FCA ADMINISTERS AN ANNUAL SCHOLARSHIP PROGRAM FOR COLLEGE-BOUND SENIORS FROM THE HOUSATONIC VALLEY REGIONAL HIGH SCHOOL FOR UNDERGRADUATE STUDY IN THE FINE ARTS, WITH FUNDS CONTRIBUTED BY A CONNECTICUT FOUNDATION. SELECTION IS MADE BY A PANEL OF VISUAL ARTISTS BASED ON MERIT AND FINANCIAL NEED. IN 2023, THE AMOUNT OF THE SCHOLARSHIP WAS DOUBLED; NEW RECIPIENTS RECEIVE $80,000 OVER FOUR YEARS ($10,000 PER SEMESTER). $70,000 WAS DISTRIBUTED TO FIVE STUDENTS IN 2023. 68959 45000 0 THE ELLSWORTH KELLY AWARD:THIS ENDOWED AWARD WAS ESTABLISHED WITH A GIFT FROM THE ELLSWORTH KELLY FOUNDATION IN HONOR OF THE ARTIST. THE GRANT IS MADE ANNUALLY TO CREATE A SOLO EXHIBITION OPPORTUNITY FOR A CONTEMPORARY VISUAL ARTIST AT A U.S. ART MUSEUM OR UNIVERSITY OR COLLEGE ART GALLERY. FCA IDENTIFIES AND INVITES APPLICATIONS FROM SUCH INSTITUTIONS ANNUALLY. THE FOUNDATION'S BOARD REVIEWS APPLICATIONS AND SELECTS THE RECIPIENT. THE 2023 AWARD WAS $45,000. 68959 45000 0 2086049 1 1 0 1 0 0 0 0 0 1 1 1 0 0 0 1 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 283 0 11 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X X KAY TAKEDA EXECUTIVE DIRECTOR 2128077077 820 GREENWICH STREET 4TH FL NEW YORK NY 10014 X CECILY BROWN CO-CHAIR 2.00 X X 0 0 0 JULIAN LETHBRIDGE CO-CHAIR 2.00 X X 0 0 0 ANTHONY B CREAMER III TREASURER 2.00 X X 0 0 0 EMILY WEI RALES SECRETARY 2.00 X X 0 0 0 ANNE COLLIER DIRECTOR 1.00 X 0 0 0 JASPER JOHNS DIRECTOR 1.00 X 0 0 0 JENNIE C JONES DIRECTOR 1.00 X 0 0 0 DEAN MOSS DIRECTOR 1.00 X 0 0 0 JAMES WELLING DIRECTOR 1.00 X 0 0 0 JOHN YAU DIRECTOR 1.00 X 0 0 0 MATANA ROBERTS DIRECTOR 1.00 X 3500 0 0 KATHLEEN FLYNN DEPUTY DIRECTOR 40.00 X 150551 0 18001 KAY TAKEDA EXECUTIVE DIRECTOR 40.00 X 244640 0 24683 ANASTACIA BLOCH COLLECTIONS AND OPS. MANAGER 40.00 X 100029 0 13848 498720 0 56532 3 0 1 0 UNION SQUARE EVENTS 147 41ST STREET 4TH FLOOR BROOKLYN NY 11232 CATERING SERVICE 125063 1 2708296 82990 2784614 1504691 5575900 827774 827774 1689414 1362058 327356 327356 327356 167000 2708296 464367 -297367 -297367 OTHER INCOME 900099 53 53 53 6433716 0 0 857816 115000 115000 1379400 1379400 45000 45000 441375 139772 122038 179565 454444 266974 91882 95588 12216 7328 2437 2451 60538 31266 14004 15268 61321 28318 14406 18597 76940 76940 89905 89905 121006 121006 299069 49630 13376 236063 22362 11300 1599 9463 20162 9214 5497 5451 2051 957 464 630 6865 151 41 6673 3261 1592 1640 29 16905 16905 19916 11232 8684 EVENT EXPENSE 13563 147 13416 REPAIRS AND MAINTENANCE 2384 2384 3263683 2086049 509267 668367 259347 307147 431900 7047392 636377 651067 42226 38882 138314 77859 58133 60455 24844257 23993277 15456524 18248469 41728764 50346689 68619 20004 967500 1060500 1036119 1080504 X 32638617 38443250 8054028 10822935 40692645 49266185 41728764 50346689 3170033 5403507 0 X X 0 1 X 1 0 X 1796401 4671132 4659664 7390955 5575900 24094052 1796401 4671132 4659664 7390955 5575900 24094052 8709657 15384395 405005 331754 447784 434108 827774 2446425 2869 1835 5066 898 53 10721 26551198 70000 0.57940 0.55450 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2019 AMOUNT: $ 2,869. 2020 AMOUNT: $ 1,835. 2021 AMOUNT: $ 5,066. 2022 AMOUNT: $ 898. 2023 AMOUNT: $ 53. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2474310 2474310 273716 68429 0 0 377908 403863 270084 273716 1325571 1988357 0 0 0 0 94477 100966 67521 68429 331393 497090 0 0 0 0 10647993 1000000 1239325 227863 12659455 8046201 1145590 -1393798 250000 7547993 7548017 718184 220000 8046201 6427956 1345061 225000 7548017 5440636 40000 1212320 265000 6427956 0.32390 0.49690 0.17920 0 0 69366 43822 25544 68948 34037 34911 60455 LONG/SHORT EQUITY FUND OF FUNDS 2049467 F LONG/SHORT EQUITY FUND OF FUNDS 2238430 F DISTRESSED LOANS FUND OF FUNDS 2367265 F ARBITRAGE AND EVENT-DRIVEN 2441933 F INTERNATIONAL EQUITY FUND OF FUNDS 2622025 F LONG/SHORT EQUITY AND OTHER PUBLIC COMPANIES 886867 F LONG/SHORT HEALTH CARE EQUITIES AND OTHER 1110949 F LARGE GROWTH FUND 1069479 F SMALL CAP EQUITY 1304544 F OPPORTUNISTIC TECHNOLOGY GROWTH 622350 F MID CAP EQUITY 1535160 F 18248469 X 11864235 5403507 148018 5551525 6312710 121006 121006 6433716 3290695 148018 148018 3142677 121006 121006 3263683 PART V, LINE 4: IN CONCERT WITH THE DONOR-SPECIFIED FUND PURPOSES AND THE MISSION OF THE ORGANIZATION, ENDOWMENT EARNINGS FUND THE ROBERT RAUSCHENBERG AWARD, THE MERCE CUNNINGHAM AWARD, THE ELLSWORTH KELLY AWARD, THE DOROTHEA TANNING AWARD, THE C.D. WRIGHT AWARD FOR POETRY, AND THE ROY LICHTENSTEIN AWARD. FOR 2023 TOTAL ENDOWMENT NET ASSETS INCLUDES BOARD DESIGNATED FUNDS. AS SUCH, THE BEGINNING ENDOWMENT BALANCE WAS UPDATED TO REFLECT THIS CHANGE. PART X, LINE 2: MANAGEMENT EVALUATED THE FOUNDATION'S TAX POSITIONS FOR ALL OPEN TAX YEARS AND HAS CONCLUDED THAT THE FOUNDATION HAS NO UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE. GENERALLY, THE FOUNDATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2020, WHICH IS THE STANDARD STATUTE OF LIMITATIONS LOOK-BACK PERIOD. CURRENTLY, THERE ARE NO EXAMINATIONS IN PROGRESS. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 9478831 EUROPE 0 0 INVESTMENTS 2238430 EAST ASIA AND THE PACIFIC 0 0 GRANTMAKING 45000 0 0 0 0 0 0 11762261 0 11762261 GRANT TO ARTIST EAST ASIA AND THE PACIFIC 1 45000 0 0 1 1 1 0 PART I, LINE 2: RECIPIENTS ARE CHOSEN ANNUALLY THROUGH A CONFIDENTIAL PEER NOMINATION PROCESS, STAFF CONDUCT RESEARCH INTO NOMINEES, AND A COMMITTEE COMPRISING THE FOUNDATION'S BOARD AND GUEST EXPERTS IN ARTISTIC FIELDS SUPPORTED BY THE GRANT REVIEW AND SELECT GRANTEES. THE NUMBER OF AWARDS MADE IN ANY OF THE FIVE FIELDS IS BASED ON THE STRENGTH OF THE CANDIDATES AND THE POTENTIAL IMPACT OF THE AWARD. RECIPIENTS RECEIVE AND COUNTERSIGN AN AWARD LETTER THAT OUTLINES THE GRANT TERMS TO INITIATE GRANT PAYMENT. RECIPIENTS ARE ASKED TO PROVIDE A FINAL REPORT AT THE END OF THE YEAR, DESCRIBING HOW THEY USED THEIR GRANT AND HOW IT INFLUENCED THEIR WORK OR PRACTICE. FORM 990, SCHEDULE F, PART IV, LINE 3: THE ORGANIZATION IS NOT REQUIRED TO FILE FORM 5471 BECAUSE IT DOES NOT MEET THE APPLICABLE THRESHOLD OWNERSHIP OR OTHER FILING REQUIREMENTS. FORM 990, SCHEDULE F, PART IV, LINE 4: THE ORGANIZATION IS NOT REQUIRED TO FILE FORM 8621 BECAUSE IT DOES NOT MEET THE APPLICABLE THRESHOLD OWNERSHIP OR OTHER FILING REQUIREMENTS. FORM 990, SCHEDULE F, PART IV, LINE 5: THE ORGANIZATION IS NOT REQUIRED TO FILE FORM 8865 BECAUSE IT DOES NOT MEET THE APPLICABLE THRESHOLD OWNERSHIP OR OTHER FILING REQUIREMENTS. X X X X X X 1 KARA MINOGUE & COMPANY LLC 40 WEST 95TH STREET SUITE 4B NEW YORK NY 10025 EVENT COORDINATION & PRODUCTION CONSULTING 0 0 89905 -89905 89905 -89905 NY 60TH ANNIVERSARY GALA 2875296 2708296 167000 207509 53367 110972 92519 2875296 2708296 167000 207509 53367 110972 92519 464367 -297367 SCHEDULE G, PART I, LINE 2B, COLUMN (V) KMLLC'S EVENT COORDINATION AND PRODUCTION FEE IS $85,000 FOR THE SERVICES PROVIDED AS SET FORTH IN THIS CONTRACT. ANY ADDITIONAL STAFFING REQUIRED WILL BE AN ADDITIONAL FEE BASED ON AN HOURLY RATE OF $65 PER HOUR. IN ADDITION TO THE EVENT FEE, THE FCA AGREES TO REIMBURSE KMLLC FOR ALL OUT OF POCKET COSTS AND EXPENSES IN CONNECTION WITH THE EVENT. ALL EXPENSES WILL BE BILLED TO AND PAID BY THE CLIENT SEPARATELY EACH MONTH. 1 THE NEW SCHOOL 66 WEST 12TH STREET NEW YORK NY 10011 133297197 501(C)(3) 20000 0 CONTEMPORARY VISUAL ARTS SCHOLARSHIP PRATT INSTITUTE 200 WILLOUGHBY AVENUE BROOKLYN NY 11205 111630822 501(C)(3) 10000 0 CONTEMPORARY VISUAL ARTS SCHOLARSHIP UNIVERSITY OF HARTFORD 200 BLOOMFIELD AVENUE WEST HARTFORD CT 06117 060731360 501(C)(3) 20000 0 CONTEMPORARY VISUAL ARTS SCHOLARSHIP CLEVELAND INSTITUTE OF ART 11610 EUCLID AVENUE CLEVELAND OH 44106 340714334 501(C)(3) 20000 0 CONTEMPORARY VISUAL ARTS SCHOLARSHIP SITE SANTA FE 1606 PASEO DE PERALTA SANTA FE NM 87501 850413922 501(C)(3) 45000 0 ELLSWORTH KELLY AWARD 5 0 ROBERT RAUSCHENBERG AWARD 1 45000 DOROTHEA TANNING AWARD 1 45000 C.D. WRIGHT AWARD FOR POETRY 1 45000 HELEN FRANKENTHALER AWARD FOR PAINTING 1 45000 THE RICHARD POUSETTE-DART AWARD 1 45000 CY TWOMBLY AWARD FOR POETRY 1 45000 VIOLAR FARBER AWARD 1 45000 ALVIN LUCIER AWARD 1 45000 JOHN CAGE AWARD 1 45000 2023 EMERGENCY GRANTS 208 389400 2023 GRANTS TO ARTISTS 13 585000 PART I, LINE 2: FCA AWARDS GRANTS IN THE FOLLOWING FIELDS: DANCE, MUSIC/SOUND, PERFORMANCE ART/THEATER, POETRY, AND THE VISUAL ARTS. EMERGENCY GRANTS. THESE GRANTS ARE AWARDED MONTHLY TO ARTISTS AND COLLECTIVES WHO INCUR UNEXPECTED EXPENSES WHEN PROJECTS ARE CLOSE TO COMPLETION OR RECEIVE SUDDEN OPPORTUNITIES TO PRESENT THEIR WORK TO THE PUBLIC. EMERGENCY GRANTS RANGE FROM $500 TO $3,000. APPLICATIONS ARE RECEIVED ON A ROLLING BASIS THROUGH AN OPEN APPLICATION PROCESS. STAFF REVIEW APPLICATIONS FOR ELIGIBILITY, AND AN ARTIST PANEL IS CONVENED MONTHLY TO REVIEW AND DETERMINE GRANT RECIPIENTS BASED ON PROGRAM CRITERIA. RECIPIENTS RECEIVE AND COUNTERSIGN AN AWARD LETTER STATING THE GRANT TERMS AND PROVIDE A COMPLETED W-9 TO INITIATE GRANT PAYMENT. RECIPIENTS ARE REQUIRED TO PROVIDE A BRIEF FINAL REPORT AFTER THE PROJECT CONCLUDES ACCOUNTING FOR THE USE OF FUNDS AND DESCRIBING THE IMPACT OF THE GRANT AND PROJECT OUTCOMES. PROJECT DOCUMENTATION IS ALSO ENCOURAGED. 208 GRANTS WERE MADE IN 2023. GRANTS TO ARTISTS. THESE UNRESTRICTED, $45,000 CASH AWARDS ARE INTENDED TO PROVIDE RECIPIENTS THE FINANCIAL MEANS TO ENGAGE IN WHATEVER ARTISTIC ENDEAVORS THEY WISH TO PURSUE. RECIPIENTS ARE CHOSEN ANNUALLY THROUGH A CONFIDENTIAL PEER NOMINATION PROCESS, STAFF CONDUCT RESEARCH INTO NOMINEES, AND A COMMITTEE COMPRISING THE FOUNDATION'S BOARD AND GUEST EXPERTS IN ARTISTIC FIELDS SUPPORTED BY THE GRANT REVIEW AND SELECT GRANTEES. THE NUMBER OF AWARDS MADE IN ANY OF THE FIVE FIELDS IS BASED ON THE STRENGTH OF THE CANDIDATES AND THE POTENTIAL IMPACT OF THE AWARD. RECIPIENTS RECEIVE AND COUNTERSIGN AN AWARD LETTER THAT OUTLINES THE GRANT TERMS AND PROVIDE A COMPLETED W-9 TO INITIATE GRANT PAYMENT. RECIPIENTS ARE ASKED TO PROVIDE A FINAL REPORT AT THE END OF THE YEAR, DESCRIBING HOW THEY USED THEIR GRANT AND HOW IT INFLUENCED THEIR WORK OR PRACTICE. IN 2023, 23 AWARDS WERE MADE. ELEVEN GRANTS TO ARTISTS AWARDS ARE NAMED AND ENDOWED, OR FUNDED, IN MEMORY OF ARTISTS INCLUDING: JOHN CAGE, MERCE CUNNINGHAM, VIOLA FARBER, HELEN FRANKENTHALER, ROY LICHTENSTEIN, ALVIN LUCIER, RICHARD POUSETTE-DART, ROBERT RAUSCHENBERG, DOROTHEA TANNING, CY TWOMBLY, AND C.D. WRIGHT. IN 2023, TEN SUCH AWARDS WERE MADE. THE JOHN CAGE AND MERCE CUNNINGHAM AWARDS ARE MADE IN ALTERNATING YEARS. THE ELLSWORTH KELLY AWARD. INAUGURATED IN 2016, THIS $45,000 CASH AWARD WAS ENDOWED THROUGH A GIFT FROM THE ELLSWORTH KELLY FOUNDATION IN HONOR OF THE ARTIST. THE GRANT IS MADE ANNUALLY TO CREATE A SOLO EXHIBITION OPPORTUNITY FOR A CONTEMPORARY VISUAL ARTIST AT A U.S. ART MUSEUM OR UNIVERSITY ART GALLERY. EACH YEAR FCA IDENTIFES AND INVITES APPLICATIONS FROM SUCH INSTITUTIONS. THE FOUNDATION'S BOARD REVIEWS APPLICATIONS AND SELECTS THE RECIPIENT. THE RECIPIENT INSTITUTION RECEIVES AND COUNTERSIGNS AN AWARD AGREEMENT, PROVIDES A COMPLETED W-9 TO INITIATE GRANT PAYMENT, AND IS REQUIRED TO SUBMIT AN INTERIM PROGRESS REPORT BY JUNE 15 OF EACH SUBSEQUENT YEAR UNTIL THE EXHIBITION OPENS. WITHIN 30 DAYS OF THE EXHIBITION'S CLOSING DATE, A FINAL FINANCIAL REPORT ON THE EXHIBITION AND USE OF FUNDS, AND A NARRATIVE REPORT ON EXHIBITION ACTIVITIES AND OUTCOMES, COLLATERAL MATERIALS ARE ALSO REQUESTED. ONE AWARD WAS MADE IN 2023. CONTEMPORARY VISUAL ARTS SCHOLARSHIP (CVAS). FCA ADMINISTERS AN ANNUAL SCHOLARSHIP PROGRAM FOR COLLEGE-BOUND SENIORS FROM THE HOUSATONIC VALLEY REGIONAL HIGH SCHOOL FOR UNDERGRADUATE STUDY IN THE FINE ARTS, WITH FUNDS CONTRIBUTED BY A CONNECTICUT FOUNDATION. SELECTION IS MADE BY A PANEL OF VISUAL ARTISTS BASED ON MERIT AND FINANCIAL NEED. IN 2022 THE SCHOLARSHIP AMOUNT WAS DOUBLED. NEWLY SELECTED RECIPIENTS RECEIVE $80,000 OVER FOUR YEARS, DISBURSED IN PAYMENTS OF $10,000 PER SEMESTER. STUDENTS SUBMIT TRANSCRIPTS AND DOCUMENTATION OF RECENT ARTWORK TO RENEW THE SCHOLARSHIP EACH YEAR. $70,000 WAS DISTRIBUTED TO FOUR STUDENTS IN 2023. X X X X X 0 0 0 0 0 0 0 0 0 KAY TAKEDA EXECUTIVE DIRECTOR 244640 0 0 0 0 0 7339 0 17344 0 269323 0 0 0 KATHLEEN FLYNN DEPUTY DIRECTOR 150551 0 0 0 0 0 4517 0 13484 0 168552 0 0 0 X 39 131727 SELLING PRICE X 4 1361372 AVG. SELLING PRICE X 1 11592 COST 0 0 1 1 PART I, COLUMN (B): THE FOUNDATION IS REPORTING THE NUMBER OF CONTRIBUTORS IN PART I, COLUMN (B). PART I, LINE 32B: FROM TIME TO TIME, AS CREATED BY THE PUBLIC'S INTEREST AND DEMAND FOR THE WORKS OF SPECIFIC ARTISTS OR GENRES, THE FOUNDATION MAY CONSIGN CONTRIBUTED ART WORK TO GALLERIES FOR EXHIBITION AND SALE. COMMISSION PAID TO SUCH GALLERIES IS BASED UPON THE SALE PRICE OF THE ART WORK, AND IS SET IN ALIGNMENT WITH CURRENT USUAL AND CUSTOMARY FEES FOR THE INDUSTRY. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING THE FORM 990 WITH THE IRS, MANAGEMENT REVIEWS THE FORM 990, AFFIRMING THE ACCURACY AND CONSISTENCY IN REPORTING WITH THE AUDITED FINANCIAL STATEMENTS. NEXT, MANAGEMENT FORWARDS THE FORM 990 FOR THE TREASURER'S REVIEW AND APPROVAL. FOLLOWING THIS REVIEW, THE FORM 990 IS EMAILED TO THE BOARD OF DIRECTORS INVITING THE BOARD TO SUBMIT ANY FURTHER COMMENTS. BARRING ANY COMMENTS FROM THE BOARD, MANAGEMENT CONFIRMS TO THE PREPARER THAT THE FORM 990 IS APPROVED. THE APPROVED FORM 990 IS THEN FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE FOUNDATION FOR CONTEMPORARY ARTS HAS A CONFLICT OF INTEREST POLICY THAT APPLIES TO THE BOARD OF DIRECTORS, OFFICERS, KEY EMPLOYEES, AND ANY RELATED PARTIES OF THE AFOREMENTIONED. ALL INDIVIDUALS COVERED UNDER THIS POLICY HAVE A DUTY TO DISCLOSE A POTENTIALLY PROHIBITED TRANSACTION, AND ALL MATERIAL FACTS, TO THE BOARD OF DIRECTORS FOR REVIEW. ALL RELATED PARTIES LEAVE THE ROOM WHEN THE BOARD CONDUCTS DELIBERATIONS REGARDING THE POTENTIAL TRANSACTION. THE BOARD MAY ALSO CONSIDER ALTERNATE TRANSACTIONS AND USE COMPARABILITY DATA TO DETERMINE WHETHER THE TRANSACTION OR ALTERNATE IS FAIR, REASONABLE AND IN THE BEST INTERESTS OF THE FOUNDATION. THE TRANSACTION IS APPROVED BY A MAJORITY VOTE OF THE INDEPENDENT BOARD MEMBERS PRESENT AT THE MEETING. THE MINUTES OF ALL MEETINGS OF THE BOARD OR BOARD COMMITTEES AT WHICH A POTENTIAL CONFLICT TRANSACTION IS CONSIDERED CONTAIN THE NAMES OF THE INDIVIDUALS WHO DISCLOSED OR WERE DETERMINED TO HAVE A CONFLICT OF INTEREST, THE NATURE OF THE POTENTIAL CONFLICT, ANY ACTION TAKEN TO DETERMINE IF A CONFLICT OF INTEREST EXISTS, AND THE BOARD'S DECISION STATING IF A CONFLICT OF INTEREST EXISTS. ADDITIONALLY, THE MINUTES CONTAIN THE NAMES OF ALL MEMBERS PRESENT FOR THE DISCUSSION, VOTING AND DECISION REGARDING THE POTENTIAL CONFLICT, AND THE NAMES OF THOSE RECUSED FROM THE DISCUSSION AND VOTING. EACH DIRECTOR, OFFICER, AND KEY EMPLOYEE ANNUALLY SIGNS A STATEMENT THAT CONFIRMS THEIR RECEIPT, UNDERSTANDING AND COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION OF THE EXECUTIVE DIRECTOR IS DETERMINED BY MEMBERS OF THE EXECUTIVE COMMITTEE AND APPROVED BY THE BOARD. INCREASES IN COMPENSATION ARE BASED ON THE COMMITTEE'S AND BOARD'S ASSESSMENT OF PERFORMANCE AND AVAILABLE COMPARATIVE DATA, INCLUDING COMPARISON WITH COMPENSATION OF OTHER EXECUTIVES OF ARTS ORGANIZATIONS AS FOUND IN THEIR FORMS 990. IN 2021 THE BOARD RETAINED THE SERVICES OF A COMPENSATION CONSULTANT TO CONDUCT A FORMAL BENCHMARKING STUDY FOR EXECUTIVE COMPENSATION VS. PEER ORGANIZATIONS TO INFORM A SEARCH PROCESS THAT CONCLUDED WITH A NEW HIRE IN 2022. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE AS IT IS POSTED ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, FORMS 990 AND 1023, AS WELL AS THE FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, ARTICLES OF INCORPORATION AND BYLAWS ARE AVAILABLE UPON WRITTEN REQUEST. FORM 990, PART VII: BOARD MEMBER MATANA ROBERTS RECEIVED NO COMPENSATION IN HER CAPACITY AS A BOARD MEMBER. SHE RECEIVED COMPENSATION IN 2023 IN THE FORM OF AN HONORARIUM AS MEMBER OF A WORKING GROUP IN AN ADVISORY CAPACITY. FORM 990, PART XII, LINE 2C: THE FOUNDATION HAS NOT CHANGED ITS AUDIT OVERSIGHT PROCESS OR THE PROCESS TO SELECT AN INDEPENDENT ACCOUNTANT FROM THE PROCESS FOLLOWED IN THE PRIOR TAX YEAR.