| Form 990 Part III Line 1 |
THE CARNEGIE HALL CORPORATION'S MISSION IS TO PRESENT EXTRAORDINARY MUSIC AND MUSICIANS ON THE THREE STAGES OF THIS LEGENDARY HALL, TO BRING THE TRANSFORMATIVE POWER OF MUSIC TO THE WIDEST POSSIBLE AUDIENCE, TO PROVIDE VISIONARY EDUCATION PROGRAMS, AND TO FOSTER THE FUTURE OF MUSIC THROUGH THE CULTIVATION OF NEW WORKS, ARTISTS, AND AUDIENCES. DUE TO THE FINANCIAL SUPPORT PROVIDED BY THE CARNEGIE HALL SOCIETY, A RELATED 501(C)(3) ORGANIZATION, THIS 990 RETURN SHOULD BE READ IN CONJUNCTION WITH THE 990 RETURN OF THE SOCIETY. |
| RELATIONSHIPS |
FORM 990, PART VI, SECTION A, LINE 2 SANFORD I. WEILL AND THOMAS G. MAHERAS HAVE A BUSINESS RELATIONSHIP. SANFORD I. WEILL AND JOSHUA NASH HAVE A BUSINESS RELATIONSHIP. SANFORD I. WEILL AND S. DONALD SUSSMAN HAVE A BUSINESS RELATIONSHIP. |
| MEMBERS |
FORM 990, PART VI, SECTION A, LINES 6 AND 7A THE ORGANIZATION WAS HISTORICALLY FORMED AS A MEMBERSHIP CORPORATION BY AN ACT OF THE NEW YORK STATE LEGISLATURE IN 1960. MEMBERS ELECT TRUSTEES AT THE ORGANIZATIONS ANNUAL MEETING, AND THE TRUSTEES MAY IN TURN ELECT OTHER TRUSTEES. ALL MEMBERS (CURRENTLY FIVE) ARE ALSO TRUSTEES. |
| BOARD REVIEW OF FORM 990 |
FORM 990, PART VI, SECTION A, LINE 11B THE FORM 990 IS PREPARED BY CARNEGIE HALL CORPORATION'S EXTERNAL ACCOUNTING FIRM WITH THE ASSISTANCE OF THE CORPORATION'S STAFF. THE STAFF AND FINANCE DEPARTMENT CAREFULLY REVIEW THE DRAFT FORMS, WHICH ARE THEN PROVIDED TO THE AUDIT COMMITTEE. THE BOARD OF TRUSTEES HAS DELEGATED RESPONSIBILITY FOR REVIEWING THE FORM 990 TO ITS AUDIT COMMITTEE. THE AUDIT COMMITTEE PROVIDES THE FULL BOARD WITH ITS REVIEW COMMENTS. A COPY OF FORM 990 IS AVAILABLE TO THE FULL BOARD OF TRUSTEES BEFORE FILING. |
| CONFLICT OF INTEREST POLICY |
FORM 990, PART VI, SECTION B, LINE 12C POTENTIAL CONFLICT OF INTEREST TRANSACTIONS AND RELATED PARTY TRANSACTIONS ARE REVIEWED BY AN INDEPENDENT GROUP OF TRUSTEES, MOST RECENTLY THE INDEPENDENT GOVERNANCE COMMITTEE, TO ENSURE THE TRANSACTIONS ARE IN THE ORGANIZATIONS BEST INTEREST AND IN COMPLIANCE WITH APPLICABLE LAW AND BEST PRACTICES, PURSUANT TO THE ORGANIZATIONS CONFLICT OF INTEREST POLICY. |
| COMPENSATION REVIEW |
FORM 990, PART VI, SECTION B, LINES 15A AND 15B COMPENSATION FOR THE EXECUTIVE DIRECTOR, OFFICERS AND KEY EMPLOYEES IS DETERMINED ANNUALLY BY THE CHAIRMAN OF THE BOARD AND TREASURER OF THE BOARD, WHO ARE FREE OF CONFLICTS OF INTEREST UNDER THE ORGANIZATION'S CONFLICT OF INTEREST POLICY. COMPENSATION IS DETERMINED BASED UPON COMPARABILITY DATA, SUCH AS FORMS 990 AND OTHER SOURCES OF SALARY INFORMATION FOR FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED PERFORMING ARTS ORGANIZATIONS IN SIMILAR GEOGRAPHIC LOCATIONS. THE ORGANIZATION DOCUMENTS CONTEMPORANEOUSLY AND RETAINS RECORDS OF THE COMPENSATION DETERMINATION ANALYSIS AND DECISION. |
| PUBLIC DISCLOSURE |
FORM 990, PART VI, SECTION C, LINE 19 Carnegie Hall makes its annual report which contains highlights of programs and financial information and its current year audited financial statements available on its website. The form 990 is available upon request and on websites such as guidestar.org. Carnegie Hall currently does not make its governing documents and conflict of interest publicly available. |
| NET ASSETS RECONCILIATION |
NET PERIODIC GAIN FAS 158: (3,894,645) ------------------- (3,894,645) |
| FORM 990, PART VI, SECTION A, LINE 1A |
PURSUANT TO ITS BY-LAWS, THE ORGANIZATIONS BOARD OF TRUSTEES DELEGATES AUTHORITY TO AN EXECUTIVE COMMITTEE, SUBJECT TO THE LIMITATIONS OF THE NEW YORK NOT-FOR-PROFIT CORPORATION LAW. THE EXECUTIVE COMMITTEE REPORTS ITS ACTIONS TO THE BOARD. |
| TAX EXEMPT BONDS |
FORM 990, PART VI, LINE 24A The Trust for Cultural Resources of the City of New York issued Series 2009 Revenue Bonds, the proceeds of which have been loaned to Carnegie Hall. The Carnegie Hall Society and Carnegie Hall Corporation are jointly and severally liable under this loan agreement. |
Attach to Form 990 or 990-EZ.