2024-11-15T14:05:44-06:00 2023-12-31 WITHUMSMITHBROWNPC 4600 EAST WEST HWY 900 BETHESDA MD 208143423 990 2023-01-01 954815790 AFM & SAG-AFTRA INTELLECTUAL PROPERTY RIGHTS DISTRIBUTION FUND % JEFF TRAFICAN AFM& 8182557980 4705 LAUREL CANYON BLVD SUITE 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 LEI BOWEN 4705 LAUREL CNYN BLVD 400 VALLEY VILLAGE CA 91607 151496038 false X AFMSAGAFTRAFUND.ORG X 1998 NY THE FUND COLLECTS AND DISTRIBUTES ROYALTIES ON BEHALF OF NON-FEATURED INSTRUMENTAL MUSICIANS AND VOCALISTS. 6 6 62 0 0 0 0 0 89795042 72095527 2784700 6364115 1010365 43521 93590107 78503163 0 0 0 0 6220700 5556083 0 0 0 69484257 88534680 75704957 94090763 17885150 -15587600 186427172 192102971 61432366 74882875 124994806 117220096 THE FUND COLLECTS AND DISTRIBUTES ROYALTIES ON BEHALF OF NON-FEATURED INSTRUMENTAL MUSICIANS AND VOCALISTS. false false THE FUND COLLECTS AND DISTRIBUTES ROYALTIES ON BEHALF OF NON-FEATURED INSTRUMENTAL MUSICIANS AND VOCALISTS. false false false false false false false false false true false false false true true false true false false false false false false false false false false false true false false false false false false false false false false true false false false true 26613 0 true 62 true false false false false false false false false X 6 6 false false false false false true false true false false false false true true true true true true true false CA X JEFF TRAFICAN 8182557980 4705 LAUREL CANYON BLVD STE 400 VALLEY VILLAGE CA 91607 X STEFANIE TAUB Chief Executive Officer 40.0 0.0 X 362562 0 64530 SIDNEY KIBODEAUX WHITE CHIEF OPERATING OFFICER 40.0 0.0 X 255459 0 81205 LEI BOWEN CHIEF FINANCIAL OFFICER 40.0 0.0 X 246859 0 61333 ROBERT RUSEK IT DIRECTOR 40.0 0.0 X 191105 0 72384 LORENA LEWBEL DIR, APPLICATIONS DEVELOPMENT 40.0 0.0 X 186910 0 56652 KAREN TUCKER DIR, HR & LEGAL AFFARIS 40.0 0.0 X 175276 0 40724 JEFFREY TRAFICAN CONTROLLER 40.0 0.0 X 167042 0 33826 MARIA VITTALI MANAGER FP AND A 40.0 0.0 X 136550 0 31241 RAYMOND M HAIR JR ALTERNATE TRUSTEE 1.0 0.0 X 0 0 0 PAT COIL TRUSTEE 1.0 0.0 X 0 0 0 TINO GAGLIARDI TRUSTEE/CO-CHAIR 1.0 0.0 X 0 0 0 JOHN ACOSTA ALTERNATE TRUSTEE 1.0 0.0 X 0 0 0 DAVE POMEROY TRUSTEE 1.0 0.0 X 0 0 0 DAN NAVARRO TRUSTEE 1.0 0.0 X 0 0 0 DUNCAN CRABTREE-IRELAND TRUSTEE/CO-CHAIR 1.0 0.0 X 0 0 0 JANICE PENDARVIS TRUSTEE 1.0 0.0 X 0 0 0 JASPER RANDALL ALTERNATE TRUSTEE 1.0 0.0 X 0 0 0 KRISTINA GORBACSAOV ALTERNATE TRUSTEE 1.0 0.0 X 0 0 0 MARC SAZER ALTERNATE TRUSTEE(EFF.9/25/23) 1.0 0.0 X 0 0 0 1721763 0 441895 18 false true false REED SMITH LLP THE BROADGATE TOWER 20 PRIMROSE STR LONDON 0 UK EC2A 2RS Legal Counsel 856178 ADAEQUARE INC 5160 PARKSTONE DR STE 100 CHANTILLY VA 20151 SOFTWARE DEVELOPMENT 293040 PINNACLE ENTERPRISE SOULTUIONS INC 15527 SONARA ST TUSTIN CA 92782 CONSULTING 243330 3 0 ROYALTY RECEIPTS 900099 72095527 72095527 4797775 4797775 0 0 598846 555325 43521 0 43521 43521 74003890 72437550 1566340 1566340 1566340 0 0 0 0 0 0 0 0 0 0 0 78503163 0 6407636 0 0 0 0 1074524 0 3066017 463830 669867 281845 0 670835 45176 0 0 407885 214061 149129 34180 198975 0 443478 17509 0 3090 0 0 210317 134502 DISTRIBUTIONS TO PERFORMERS 86302867 OTHER EXPENSES -323929 PRINTING 26605 94090763 1886431 2782235 65294693 56877895 0 0 232506 57582 0 0 0 0 0 0 0 0 0 0 15550971 4366855 10053422 11184116 108702766 120895114 0 0 0 0 0 0 257354 306029 186427172 192102971 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 61432366 74882875 61432366 74882875 X 0 0 0 0 124994806 117220096 124994806 117220096 186427172 192102971 X -15587600 7812004 886 X X false true X true false 2955000 2955000 6795000 1771346 5023654 2915580 1677247 1238333 241118 195936 45182 2644273 722326 1921947 11184116 0 DISTRIBUTIONS PAYABLE 74854985 SECURITY DEPOSITS 27890 74882875 X 86462607 7812004 555325 8367329 78095278 407885 407885 78503163 94238203 555325 555325 93682878 407885 407885 94090763 PART X, LINE 2 - FIN 48 (ASC 740): Management of the Fund and the Building Corporation are required to evaluate tax positions taken and recognize an income tax liability if the Fund or Building Corporation 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 the Building Corporation, and concluded that as of December 31, 2023 and December 31, 2022, there are no uncertain positions taken or expected to be taken that would require recognition in the consolidated financial statements. The Fund and Building Corporation are 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 significant tax related interest or penalties for periods presented in these consolidated financial statements. The Fund's policy is to recognize penalties and interest incurred as general and administrative expenses in the period paid as general and administrative expenses in the period paid. PART XI, LINE 2D - OTHER REVENUE NOT INCLUDED ON FORM 990: $555,325 EXPENSES INCLUDED IN RENTAL INCOME PART XII, LINE 2D - OTHER EXPENSES NOT INCLUDED ON FORM 990: $555,325 EXPENSES INCLUDED IN RENTAL INCOME X X false false false LEI BOWEN CHIEF FINANCIAL OFFICER 237475 0 0 0 9384 0 32815 0 30443 0 310117 0 0 0 ROBERT RUSEK IT DIRECTOR 183958 0 0 0 7147 0 25316 0 47393 0 263814 0 0 0 LORENA LEWBEL DIR, APPLICATIONS DEVELOPMENT 179872 0 0 0 7038 0 24639 0 32338 0 243887 0 0 0 KAREN TUCKER DIR, HR & LEGAL AFFARIS 168682 0 0 0 6594 0 23378 0 17671 0 216325 0 0 0 JEFFREY TRAFICAN CONTROLLER 160802 0 0 0 6240 0 21848 0 12304 0 201194 0 0 0 MARIA VITTALI MANAGER FP AND A 136550 0 0 0 0 0 18170 0 13375 0 168095 0 0 0 STEFANIE TAUB Chief Executive Officer 349097 0 0 0 13465 0 47184 0 17671 0 427417 0 0 0 SIDNEY KIBODEAUX WHITE CHIEF OPERATING OFFICER 245690 0 0 0 9769 0 34137 0 47393 0 336989 0 0 0 PART VI, SECTION A, LINE 8B - AUTHORITY TO ACT: THE FUND DOES NOT HAVE ANY COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. PART VI, SECTION B, LINE 11B - REVIEW OF FORM 990: 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. 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 B, LINE 15A - DETERMINATION OF COMPENSATION: 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. PART VI, SECTION B, LINE 15B - DETERMINATION OF COMPENSATION: ALL EMPLOYEE COMPENSATION IS THE RESULT OF COMPARATIVE ANALYSIS BY THE HUMAN RESOURCES DEPARTMENT AND IS REVIEWED AND APPROVED BY THE TRUSTEES. PART VI, SECTION C, LINE 19 - AVAILABILITY OF DOCUMENTS: 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. PART XI, LINE 9 - OTHER CHANGES IN NET ASSETS OR FUND BALANCE $886 increase to beginning net assets due to 2022 Financials were not finalized until after filing of the 2022 Form 990 filing due date. PART XI, LINE 1 - ACCOUNTING METHOD: THE ACCOMPANYING 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. PART XII, LINE 2C - RESPONSIBILITY FOR OVERSIGHT OF AUDIT: THE BOARD OF TRUSTEES ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT, REVIEW OF THE FUND'S FINANCIAL STATEMENTS AND THE SELECTION OF INDEPENDENT ACCOUNTANT. STUDIO CITY PLAZA TITLE HOLDING CO LLC 4705 LAUREL CANYON BLVD VALLEY VILLAGE CA 91607 954815790 RNTL REAL EST CA 598871 11930082 SEE PART VII PART I, LINE 1, COLUMN F - DIRECT CONTROLLING ENTITY: AFM & SAG-AFTRA INTELLECTUAL PROPERTY RIGHTS DISTRIBUTION FUND