| GENERAL STATEMENT REGARDING IMPACT OF COVID-19: |
IN MARCH 2020, THE WORLD HEALTH ORGANIZATION DECLARED COVID-19, THE DISEASE CAUSED BY THE NOVEL CORONAVIRUS, A PANDEMIC, WHICH CONTINUES TO SPREAD THROUGHOUT THE UNITED STATES. AS A RESULT OF THE COVID-19 PANDEMIC, BROADWAY, AND FILM AND TELEVISION, THEATER, CONCERTS, DANCE, MUSIC AND MANY OTHER AREAS OF ENTERTAINMENT WERE SHUTDOWN. THE ACTORS FUND HAS PARTNERED WITH OTHER ENTERTAINMENT INDUSTRY ORGANIZATIONS TO PROVIDE EMERGENCY FINANCIAL ASSISTANCE GRANTS TO THOSE IN IMMEDIATE FINANCIAL NEED. ADDITIONALLY, IN RESPONSE TO THE PANDEMIC, THE ACTORS FUND INCURRED ADDITIONAL COSTS FOR TESTING, PERSONAL PROTECTIVE EQUIPMENT, AND OTHER OPERATING COSTS ASSOCIATED WITH ENSURING EMPLOYEE AND RESIDENT SAFETY WHILE OPERATING DURING THE PANDEMIC. ON APRIL 20, 2020, THE ACTORS FUND (THE "BORROWER"), WAS GRANTED A LOAN (THE "AFA LOAN") FROM TD BANK, IN THE AGGREGATE AMOUNT OF $4,592,157, PURSUANT TO THE SMALL BUSINESS ADMINISTRATION PAYCHECK PROTECTION PROGRAM (THE "SBA PPP") UNDER DIVISION A, TITLE I OF THE CARES ACT, WHICH BEARED INTEREST AT A RATE OF 1% PER ANNUM. THE ACTORS FUND USED THE ENTIRE LOAN AMOUNT FOR QUALIFYING EXPENSES. DURING THE YEAR ENDED DECEMBER 31, 2021, THE LOAN WAS FORGIVEN IN FULL AND RECOGNIZED AS REVENUE. |
| FORM 990, PART VI, SECTION A, LINE 2: |
MANY ACTORS FUND TRUSTEES WORK IN THE ENTERTAINMENT INDUSTRY. THESE INDIVIDUALS ENTER INTO BUSINESS ARRANGEMENTS AMONG THEMSELVES. THESE RELATIONSHIPS ARE FLUID THROUGHOUT ANY GIVEN YEAR AND SO IDENTIFYING EACH AND EVERY ONE IS VERY DIFFICULT. THESE BUSINESS RELATIONSHIPS HAVE NO IMPACT ON THE ACTORS FUND'S OPERATIONS. |
| FORM 990, PART VI, SECTION B, LINE 11B |
THE FORM 990 WAS PREPARED BY AN ACCOUNTING FIRM IN CONJUNCTION WITH THE ORGANIZATION'S FINANCE DEPARTMENT. A COPY OF THE DRAFT FORM 990 WAS CIRCULATED TO THE FULL BOARD OF TRUSTEES FOR DISCUSSION AND COMMENT. EACH BOARD MEMBER WAS PROVIDED AMPLE OPPORTUNITY TO COMMENT ON THE INFORMATION CONTAINED IN THE 990 PRIOR TO ITS FILING WITH THE INTERNAL REVENUE SERVICE. |
| FORM 990, PART VI, SECTION B, LINE 12C |
THE ACTORS FUND HAS A WRITTEN CONFLICT OF INTEREST POLICY FOR KEY EMPLOYEES AND TRUSTEES. THE OFFICERS, TRUSTEES, AND KEY EMPLOYEES ARE REQUIRED TO COMPLETE THE CONFLICT OF INTEREST POLICY FORM AND SIGN ON AN ANNUAL BASIS AT A MINIMUM, AND INFORM THE ORGANIZATION WHEN THE CONFLICT OF INTEREST CIRCUMSTANCES ARISE. |
| FORM 990, PART VI, SECTION B, LINE 15 |
THE ACTORS FUND UNDERTAKES A VERY THOROUGH AND COMPREHENSIVE PROCESS TO ENSURE THAT THE COMPENSATION IT PAYS TO ITS PRESIDENT AND CEO IS COMPARABLE TO OTHER PEER INSTITUTIONS IN THE MARKET IN WHICH THE ORGANIZATION OPERATES. THE ACTORS FUND COMMISSIONS A COMPENSATION SURVEY FROM AN INDEPENDENT THIRD-PARTY EXECUTIVE COMPENSATION SPECIALIST BIENNIAL. THE COMPENSATION CONSULTANT VALIDATES THE ORGANIZATION'S COMPETITIVE POSITION WITHIN THE MARKETPLACE BY REGION, BY PEER INSTITUTION (I.E. ORGANIZATIONS WITH A SIMILAR MISSION, SIMILAR SIZE AND OPERATIONAL BUDGET). COMPENSATION FOR THE PRESIDENT AND ALL OTHER OFFICERS AND KEY EMPLOYEES REPORTED IN THE FORM 990 IS REVIEWED BY THE ACTORS' FUND'S COMPENSATION COMMITTEE AND APPROVED BY THE EXECUTIVE COMMITTEE. THESE DECISIONS ARE FORMALIZED AND DOCUMENTED IN THE ORGANIZATION'S COMMITTEE MINUTES. THE ORGANIZATION LAST COMMISSIONED A COMPENSATION STUDY IN CALENDAR YEAR 2019. |
| FORM 990, PART VI, SECTION C, LINE 19 |
THE ACTORS FUND'S FORM 990 AND FINANCIAL STATEMENTS ARE POSTED ON THE ORGANIZATION'S WEBSITE. THE ACTORS FUND FORM 990 IS ALSO POSTED ON THE INTERNET AT WWW.GUIDESTAR.ORG. THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AND AT MANAGEMENT'S DISCRETION. |
| FORM 990, PART XI, LINE 9: |
CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 271,274. PENSION BENEFIT RELATED ACTIVITIES, OTHER THAN NET PERIODIC PENSION COST 1,799,701. WRITE-OFF OF UNCOLLECTIBLE PLEDGE -29,750. |
Attach to Form 990 or 990-EZ.