| FORM 990, PART VI, SECTION A, LINE 4 DETAIL |
THE BYLAWS WERE AMENDED IN JUNE 2015. THE SIGNIFICANT CHANGES WERE: - THE BOARD REPLACED THE PURPOSE OF THE ACADEMY WITH THE MISSION STATEMENT. - THE BOARD CHANGED ITS ROLE FROM CORPORATE MANAGEMENT AND CONTROL TO CORPORATE OVERSIGHT, CONTROL AND STRATEGIC DIRECTION. - THE NUMBER OF OFFICERS WAS CHANGED TO ADD A FOURTH VICE PRESIDENT AND A CHIEF FINANCIAL OFFICER. THE CHIEF OPERATING OFFICER AND THE OFFICE OF IMMEDIATE PAST PRESIDENT WERE ELIMINATED. - THE ROLES OF OFFICERS WERE ADJUSTED TO BE CONSISTENT WITH THE DECISION BY THE BOARD TO PLACE THE MANAGEMENT OF THE ENTITY INTO THE CONTROL OF THE CEO WITH THE BOARD HAVING OVERSIGHT. BOARD OVERSIGHT COMMITTEES WERE CREATED TO FULFILL THIS FUNCTION. - THE BYLAW CHANGE NOTIFICATION PERIOD WAS REDUCED FROM THIRTY DAYS TO TEN DAYS. |
| FORM 990, PART VI, SECTION A, LINES 6 & 7A DETAIL |
PROCESS USED BY MEMBERS TO ELECT GOVERNING BODY: THE BOARD OF GOVERNORS IS MADE UP OF THREE GOVERNORS FROM THE ACTORS, DESIGNERS, CINEMATOGRAPHERS, DIRECTORS, DOCUMENTARY, EXECUTIVES, FILM EDITORS, MUSIC, SHORT FILMS AND FEATURE ANIMATION, SOUND, PUBLIC RELATIONS, WRITERS, COSTUME DESIGNERS, CASTING DIRECTORS, PRODUCERS, VISUAL EFFECTS, AND MAKE-UP ARTISTS AND HAIRSTYLISTS BRANCHES. THE MEMBERS OF EACH BRANCH ELECT ONE GOVERNOR PER YEAR. |
| FORM 990, PART VI, SECTION B, LINE 11B DETAIL |
PROCESS USED TO REVIEW FORM 990: THE FORM 990 IS PREPARED BY MANAGEMENT AND REVIEWED BY ITS INDEPENDENT TAX ADVISORS, PRICEWATERHOUSECOOPERS LLP. THE FINANCE COMMITTEE REVIEWS THE FORM. THE BOARD RECEIVES A COPY OF THE FORM PRIOR TO ISSUANCE. |
| FORM 990, PART VI, SECTION B, LINE 12C DETAIL |
PROCESS USED TO MONITOR AND ENFORCE WRITTEN CONFLICT OF INTEREST POLICY: GOVERNORS ARE REQUIRED TO DISCLOSE CONFLICTS OF INTEREST WHEN THEY OCCUR. GOVERNORS ANNUALLY COMPLETE AN INDEPENDENCE QUESTIONNAIRE. IN ADDITION, MANAGEMENT REVIEWS THE BOOKS AND RECORDS FOR ANY CONFLICTS OF INTEREST. THE FULL BOARD IS NOTIFIED WHEN THERE IS A CONFLICT. |
| FORM 990, PART VI, SECTION B, LINES 15A & 15B DETAIL |
PROCESS FOR DETERMINING COMPENSATION: THE TOP MANAGEMENT OFFICIAL AND KEY EMPLOYEES' COMPENSATION IS DETERMINED BY BOARD APPROVAL, COMPARABILITY DATA AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION. THIS PROCESS WAS LAST UNDERTAKEN IN JUNE 2014 IN CONJUNCTION WITH APPROVAL OF THE 3-YEAR CONTRACTS FOR CHIEF EXECUTIVE OFFICER. |
| FORM 990, PART VI, SECTION C, LINE 19 DETAIL |
GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS: THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. |
| FORM 990, PART XI, LINE 9 DETAIL |
OTHER CHANGES IN NET ASSETS OR FUND BALANCES: BENEFIT PLAN ACTUARIAL EXPENSE - ($624,098) IT DEPRECIATION - $1,535,104 |
Attach to Form 990 or 990-EZ.