TY 2018 Form 990 Schedule O

efile Public Visual Render ObjectId: 202021959349304682 - Submission: 2020-07-13 TIN: 95-2217011

SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
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Attach to Form 990 or 990-EZ.
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Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2018

Open to Public
Inspection

Name of the organization

PERFORMING ARTS CENTER OF
LOS ANGELES COUNTY

Employer identification number

95-2217011

Return Reference	Explanation
FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION VISION:	THE MUSIC CENTER STRIVES TO DEEPEN THE CULTURAL LIFE OF EVERY RESIDENT OF LOS ANGELES COUNTY AND CONTINUE CREATING AN INCREASINGLY RELEVANT, MULTIDISCIPLINARY PERFORMING ARTS CENTER.
FORM 990, PART VI, SECTION A, LINE 2	TOM BECKMEN, WHO IS A DIRECTOR, IS MARRIED TO JUDY BECKMEN, WHO IS EMERITA.
FORM 990, PART VI, SECTION A, LINE 4	DURING THE FISCAL YEAR 18/19, THE ORGANIZATION AMENDED THEIR BY-LAWS IN ORDER TO ELIMINATE THE PROGRAMMING COMMITTEE OF THE CORPORATION FROM THE BY-LAWS.
FORM 990, PART VI, SECTION B, LINE 11B	THE BOARD HAS DELEGATED THE AUTHORITY TO THE AUDIT COMMITTEE TO REVIEW AND APPROVE THE FORM 990. ONCE APPROVED IT IS MADE AVAILABLE TO THE REMAINDER OF THE BOARD PRIOR TO THE FORM BEING ELECTRONICALLY FILED.
FORM 990, PART VI, SECTION B, LINE 12C	ANNUAL DISCLOSURES ARE REQUIRED FOR OFFICERS, DIRECTORS, AND KEY EMPLOYEES. DISCLOSURES FOR DIRECTORS ARE SUMMARIZED AND REVIEWED BY THE CHAIRMAN OF THE BOARD. DISCLOSURES FOR OFFICERS AND KEY EMPLOYEES ARE REVIEWED BY THE CHIEF FINANCIAL OFFICER. IF A CONFLICT EXISTS AT THE DIRECTOR LEVEL, THE DIRECTOR IS PROHIBITED FROM PARTICIPATING IN THE BOARD'S DELIBERATIONS AND DECISIONS IN THE TRANSACTION. IF POTENTIAL CONFLICTS ARISE AT THE OFFICER OR KEY EMPLOYEE LEVEL, THE TRANSACTION WOULD BE REVIEWED BY LEGAL COUNSEL AND THE RELEVANT BOARD COMMITTEE TO DETERMINE RESTRICTIONS.
FORM 990, PART VI, SECTION B, LINE 15	PURSUANT TO THE BYLAWS, THE EXECUTIVE COMMITTEE IS AUTHORIZED TO DETERMINE THE COMPENSATION OF THE PRESIDENT. AFTER A THOROUGH REVIEW OF HIS/HER PERFORMANCE, COMPENSATION OF EXECUTIVES AT OTHER ARTS ORGANIZATIONS, AND OTHER FACTORS, THE COMMITTEE APPROVES THE CEO'S COMPENSATION. THE CEO REVIEWS AND APPROVES THE COMPENSATION OF OFFICERS AND KEY EMPLOYEES.
FORM 990, PART VI, SECTION C, LINE 19	ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, INFORMATIONAL RETURNS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
FORM 990, PART XI, LINE 9:	CHANGE IN VALUE OF BENEFICIAL INTERESTS 19,368. SFAS 158 COMPREHENSIVE INCOME RELATED TO PENSION OBLIGATION -1,009,402. INCOME/LOSS FROM PARTNERSHIP -372. ADJUSTMENT UPON ADOPTION OF ASC 606 -50,030. LOSS ON UNCOLLECTILE PROMISES TO GIVE -268,839.
FORM 990, PART XII, LINE 2C:	THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT.

Return Reference

Explanation

FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION VISION:

THE MUSIC CENTER STRIVES TO DEEPEN THE CULTURAL LIFE OF EVERY RESIDENT OF LOS ANGELES COUNTY AND CONTINUE CREATING AN INCREASINGLY RELEVANT, MULTIDISCIPLINARY PERFORMING ARTS CENTER.

FORM 990, PART VI, SECTION A, LINE 2

TOM BECKMEN, WHO IS A DIRECTOR, IS MARRIED TO JUDY BECKMEN, WHO IS EMERITA.

FORM 990, PART VI, SECTION A, LINE 4

DURING THE FISCAL YEAR 18/19, THE ORGANIZATION AMENDED THEIR BY-LAWS IN ORDER TO ELIMINATE THE PROGRAMMING COMMITTEE OF THE CORPORATION FROM THE BY-LAWS.

FORM 990, PART VI, SECTION B, LINE 11B

THE BOARD HAS DELEGATED THE AUTHORITY TO THE AUDIT COMMITTEE TO REVIEW AND APPROVE THE FORM 990. ONCE APPROVED IT IS MADE AVAILABLE TO THE REMAINDER OF THE BOARD PRIOR TO THE FORM BEING ELECTRONICALLY FILED.

FORM 990, PART VI, SECTION B, LINE 12C

ANNUAL DISCLOSURES ARE REQUIRED FOR OFFICERS, DIRECTORS, AND KEY EMPLOYEES. DISCLOSURES FOR DIRECTORS ARE SUMMARIZED AND REVIEWED BY THE CHAIRMAN OF THE BOARD. DISCLOSURES FOR OFFICERS AND KEY EMPLOYEES ARE REVIEWED BY THE CHIEF FINANCIAL OFFICER. IF A CONFLICT EXISTS AT THE DIRECTOR LEVEL, THE DIRECTOR IS PROHIBITED FROM PARTICIPATING IN THE BOARD'S DELIBERATIONS AND DECISIONS IN THE TRANSACTION. IF POTENTIAL CONFLICTS ARISE AT THE OFFICER OR KEY EMPLOYEE LEVEL, THE TRANSACTION WOULD BE REVIEWED BY LEGAL COUNSEL AND THE RELEVANT BOARD COMMITTEE TO DETERMINE RESTRICTIONS.

FORM 990, PART VI, SECTION B, LINE 15

PURSUANT TO THE BYLAWS, THE EXECUTIVE COMMITTEE IS AUTHORIZED TO DETERMINE THE COMPENSATION OF THE PRESIDENT. AFTER A THOROUGH REVIEW OF HIS/HER PERFORMANCE, COMPENSATION OF EXECUTIVES AT OTHER ARTS ORGANIZATIONS, AND OTHER FACTORS, THE COMMITTEE APPROVES THE CEO'S COMPENSATION. THE CEO REVIEWS AND APPROVES THE COMPENSATION OF OFFICERS AND KEY EMPLOYEES.

FORM 990, PART VI, SECTION C, LINE 19

ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, INFORMATIONAL RETURNS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.

FORM 990, PART XI, LINE 9:

CHANGE IN VALUE OF BENEFICIAL INTERESTS 19,368. SFAS 158 COMPREHENSIVE INCOME RELATED TO PENSION OBLIGATION -1,009,402. INCOME/LOSS FROM PARTNERSHIP -372. ADJUSTMENT UPON ADOPTION OF ASC 606 -50,030. LOSS ON UNCOLLECTILE PROMISES TO GIVE -268,839.

FORM 990, PART XII, LINE 2C:

THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2018

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