Form 990, Part III (Cont. 1) |
significantly and increased the importance of the endowment to the Association's revenue stream. The Foundation is incorporated as a separate nonprofit public benefit corporation for the purpose of holding and managing endowment funds for the benefit of the Association. It seeks to provide the Association with a reliable source of support while protecting its investments against inflation and wide swings in the capital markets so that the Association may continue its mission to share the joy of dance with the widest possible audience in the community and around the globe. |
Form 990, Part VI, Section A, Line 6 |
The members of the Foundation shall be those persons, and only those persons, who are from time to time members of the San Francisco Ballet Association's Board of Trustees, and each such person upon election or appointment to said Board of Trustees shall automatically become a member of the Foundation and upon ceasing to be a member of said Board of Trustees shall automatically cease to be a member of the Foundation. |
Form 990, Part VI, Section A, Line 7a |
Trustees of the Foundation are elected by the Members for a term of three years. |
Form 990, Part VI, Section A, Line 7b |
Members shall have, in addition to any other rights which may be granted to them under the By-Laws or by the law, the right to vote (1) for the election of Directors, (2) on a disposition of all or substantially all of the Foundation's assets, (3) on a merger of the Foundation with another corporation, (4) on a dissolution of the Foundation, (5) on an amendment of the Articles of Incorporation and (6) on an amendment of these By-Laws (unless the By-Law amendment is approved by the Board alone in accordance with the terms of these By-Laws). |
Form 990, Part VI, Section B, Line 11b |
Line 11a The Foundation provided a complete copy of this Form 990 to all members of its governing body with a redaction of donor name and address from Form 990, Schedule B, at the request of the donor. The Form 990 was reviewed and approved at a meeting of the Audit Committee. Subsequent to the review, the Form 990 was posted on the Foundation's Trustee Intranet website and Trustees were notified in writing of the availability of the Form 990 for their review. |
Form 990, Part VI, Section B, Line 12c |
The Foundation distributes the policy and related questionnaire to board members at the beginning of each board year. Return of the questionnaire is monitored and enforced by the board relations manager. Returned questionnaires are reviewed by the CFO for any potential issues or required disclosures. |
Form 990, Part VI, Section B, Line 15 |
The only compensated officer of the Foundation is compensated by a related party, San Francisco Ballet Association. The Association's process for determining the compensation of the Chief Financial Officer involved analysis of the compensation by the compensation committee. |
Form 990, Part VI, Section C, Line 19 |
Due to the age of the Foundation, Form 1023 is currently unavailable for the general public and the Foundation is exempt from the requirement to provide Form 1023, as it was filed prior to the July 15, 1987 requirement date. The Foundation makes its audited financial statements for the last seven years available to the public via its website. Form 990, 990-T, governing documents and conflict of interest policy is also available upon request. |
Form 990, Part XI, Line 9 |
Other change in Net Assets consists of $342,490 in change in value of receivables. |