| FORM 990, PART VI, SECTION A, LINE 1 |
PAF'S EXECUTIVE COMMITTEE EXERCISES POWERS OF THE BOARD IN RELATION TO MATTERS THAT ARISE BETWEEN REGULARLY SCHEDULED BOARD MEETINGS OR WHEN IT IS NOT PRACTICAL OR FEASIBLE FOR THE BOARD TO MEET. THE COMMITTEE IS DELEGATED THE AUTHORITY TO ACT AS THE FULL BOARD WHEN EXERCISING THE POWERS AND AUTHORITY UNDER ITS CHARTER, SUBJECT TO CERTAIN LIMITATIONS. THE COMMITTEE CONSISTS OF THE PRESIDENT AND TWO OR MORE ADDITIONAL MEMBERS OF THE BOARD, AS SELECTED BY THE BOARD ON AN ANNUAL BASIS. |
| FORM 990, PART VI, SECTION B, LINE 11B |
THE FORM 990 IS PREPARED BY THE ORGANIZATION'S INDEPENDENT ACCOUNTANTS. A DRAFT IS REVIEWED BY THE FINANCE MANAGER, THE DIRECTOR, THE PRESIDENT, THE BOARD TREASURER, AND THE AUDIT AND FINANCE COMMITTEE. THE FINAL FORM 990 IS THEN PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 12C |
THE AUDIT AND FINANCE COMMITTEE EVALUATES DISCLOSURES MADE IN ACCORDANCE WITH PAF'S CONFLICT OF INTEREST POLICY, TO DETERMINE WHETHER THEY INVOLVE MERELY THE APPEARANCE OF A CONFLICT OF INTEREST OR WHETHER AN ACTUAL OR POTENTIAL MATERIAL CONFLICT OF INTEREST EXISTS. AFTER DISCLOSURE OF THE POTENTIALLY CONFLICTING INTEREST AND ALL MATERIAL FACTS, AND AFTER ANSWERING ANY QUESTIONS, THE INTERESTED DIRECTOR SHALL RECUSE HIM OR HERSELF FROM DISCUSSION, OR OTHERWISE EXERTING ANY INFLUENCE ON, AND VOTING RELATING TO THE MATTER. HOWEVER, AS A MEMBER OF THE BOARD OF DIRECTORS, THE INTERESTED DIRECTOR MAY BE COUNTED IN DETERMINING THE ESTABLISHMENT OF THE QUORUM AT SUCH A MEETING. |
| FORM 990, PART VI, SECTION B, LINE 15 |
THE COMPENSATION COMMITTEE CONSISTS OF THREE OR MORE MEMBERS OF THE BOARD, EACH OF WHOM HAS BEEN EMPOWERED TO INQUIRE INTO ANY MATTER IT CONSIDERS APPROPRIATE TO CARRY OUT ITS RESPONSIBILITIES, WITH ACCESS TO ALL BOOKS, RECORDS, FACILITIES AND PERSONNEL OF PAF. THE COMMITTEE MEETS AT LEAST ONCE PER YEAR AND PAF SHALL PROVIDE ADEQUATE RESOURCES TO SUPPORT THE COMMITTEE'S ACTIVITIES, INCLUDING COMPENSATION OF PAF'S COUNSEL, CONSULTANTS AND OTHER ADVISORS RETAINED BY THE COMMITTEE. THE COMMITTEE REVIEWS AND AUTHORIZES ANY EMPLOYMENT, COMPENSATION, BENEFIT OR SEVERANCE AGREEMENT FOR THE PRESIDENT AND THE DIRECTOR AND CHIEF CURATOR, OR FOR ANY OTHER EXECUTIVE OFFICER; REVIEWS COMPARABILITY DATA IN RELATION TO THE COMPENSATION OF PAF'S EXECUTIVE OFFICERS, SUCH DATA BEING BASED ON INDUSTRY SURVEYS, DOCUMENTED COMPENSATION OF PERSONS HOLDING SIMILAR POSITIONS IN SIMILAR ORGANIZATIONS, AND/OR OUTSIDE COMPENSATION STUDIES BY INDEPENDENT EXPERTS. |
| FORM 990, PART VI, SECTION C, LINE 19 |
DOCUMENTS ARE AVAILABLE UPON REQUEST. |
| FORM 990, PART IX, LINE 11G |
CONSULTING FEES: PROGRAM SERVICE EXPENSES 443,289. MANAGEMENT AND GENERAL EXPENSES 10,731. FUNDRAISING EXPENSES 67,552. TOTAL EXPENSES 521,572. ARTIST FEES: PROGRAM SERVICE EXPENSES 175,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 3,000. TOTAL EXPENSES 178,000. |
| FORM 990, PART XI, LINE 9: |
WRITE-OFF OF INVENTORY -152,386. |
Attach to Form 990 or 990-EZ.