| 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. AS OF JUNE 30, 2017 THE CARNEGIE HALL SOCIETY, INC., A RELATED 501(C)(3) ORGANIZATION, MERGED INTO THE CARNEGIE HALL CORPORATION. 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. EDWARD FORST AND LAURA POMERANTZ HAVE A BUSINESS RELATIONSHIP. Edward Forst and Burton P. Resnick have a business relationship. Tracy Semler and Stanley Shuman have a business relationship. Robert Smith and Sarkis Jebejian have a business relationship. Michael Liebowitz and S. Donald Sussman have a business relationship. As of June 30, 2017, The Carnegie Hall Society, Inc. (EIN: 13-6136259) merged into The Carnegie Hall Corporation. As additional information the following additional business relationships reported on The Carnegie Hall SOCIETY INC.s Form 990 are reported below. David M. Siegel and Sanford I. Weill have a business relationship. Robert Jones and David Siegel 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 elected trustees at the organizations annual meeting, and the trustees could in turn elect other trustees. All members were 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 AUDIT COMMITTEE REVIEWS THE FORM 990 REPORT, AND ALL TRUSTEES ARE PROVIDED A COPY OF THE 990 REPORT BEFORE IT IS FILED. |
| CONFLICT OF INTEREST POLICY |
FORM 990, PART VI, SECTION B, LINE 12C - The Organizations conflict of interest policy for trustees, officers and key persons is intended to identify, disclose, evaluate and address actual, potential and apparent conflicts of interest that might, in fact or appearance, call into question these individuals duty of loyalty to Carnegie Hall, as well as to gather information required for the Form 990 Report. The independent board governance committee is responsible for overseeing implementation of and compliance with the Conflict of Interest Policy. Every covered person is furnished with a copy of the policy prior to the commencement of duties, and must submit an acknowledgment and disclosure statement prior to initial election, appointment or hiring, and annually thereafter, and update it as necessary to reflect changes during the course of the year. The governance committee reviews Conflict of Interest disclosures annually and as new disclosures are made. |
| COMPENSATION REVIEW |
FORM 990, PART VI, SECTION B, LINES 15A AND 15B - Compensation for the executive and artistic director and any other officers and the key employees of the organization is reviewed and approved by independent members of the board compensation committee or other independent trustees, following a review of comparability data (such as forms 990 and other sources of salary information for functionally comparable positions at similarly situated organizations in similar geographic locations). The deliberation and decision of these independent trustees is contemporaneously documented. |
| 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 three years of audited financial statements available on its website. The Form 990 is available upon request and on websites such as guidestar.org. Carnegie Hall also makes key organizational policies, such as its Code of Ethics, Gift Acceptance Policies and Guidelines and Whistleblower policy, publicly available on its website. The governing documents and conflict of interest policy are not currently publicly available. |
| NET ASSETS RECONCILIATION |
Form 990, Part XI, Line 9 NET PERIODIC GAIN FAS 158: 4,609,684 NET ASSET TRANSFER : 324,966 014 ------------------- 329,575,698 |
| 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. |
| Significant Changes to Governing Documents |
Form 990, Part VI, Section A, Line 4 - The Carnegie Hall Corporations certificate of incorporation was amended as of July 19, 2016 to delete the requirement that there be no more than 29 trustees, and to provide that the number of trustees will be determined in accordance with the by-laws. The by-laws were amended as of the same date to make corresponding changes reflecting the changes to the certificate of incorporation, and to make various updates following review by counsel and discussion by the Governance Committee and the board, consistent with the New York Not-for-Profit Corporation Law. These changes included updates to provisions relating to special meetings, notices, quorum, vacancies, audit and other committees and officers, all in compliance with the New York Not-for-Profit Corporation Law. The by-laws were amended again as of May 27, 2017, primarily in connection with changes to the New York Not-for-Profit Corporation Law taking effect on that date, and to make various updates following review by counsel and discussion by the Governance Committee and the board. These changes included updates to provisions relating to dissolution, indemnification, notice, trustee election, resignation, vacancies, expenses, committees, quorum, meetings by telephone or videoconference, action without a meeting, loans, officers and approval of compensation, all in compliance with the New York Not-for-Profit Corporation Law. |
Attach to Form 990 or 990-EZ.