FORM 990, PAGE 1, BOX A: |
THE NATIONAL SYMPHONY ORCHESTRA ASSOCIATION (NSOA) KEEPS ITS BOOKS AND COMPUTES ITS INCOME ON THE BASIS OF A 52-53 WEEK TAX YEAR. THE 52-53 WEEK YEAR ALWAYS ENDS ON A SUNDAY AND ALWAYS ON THE SUNDAY NEAREST TO THE LAST CALENDAR DAY IN SEPTEMBER. THE TAX YEAR REPORTED HEREIN REPRESENTS THE PERIOD SEPTEMBER 28, 2020 TO OCTOBER 3, 2021, A 53-WEEK YEAR. THE INTERNAL REVENUE SERVICE (IRS) CANNOT ACCEPT A 52-53 WEEK ELECTION FOR AN EXEMPT ORGANIZATION. ACCORDINGLY, AND TO ENSURE THAT THE IRS WOULD ACCEPT NSOA'S RETURN, NSOA HAS CHANGED THE DATES OF ITS REPORTING PERIOD FROM THE AFOREMENTIONED DATES TO THE PERIOD OCTOBER 1, 2020 TO SEPTEMBER 30, 2021. |
FORM 990, PART VI, LINE 2. RELATED PARTY INFORMATION: |
MR. ALBERT H. SMALL AND MS. TINA SMALL HAVE A FAMILY RELATIONSHIP. |
FORM 990, PART VI, LINE 11B. PROCESS TO REVIEW FORM 990: |
PRIOR TO PROVIDING THE FORM 990 (RETURN) TO THE MEMBERS OF THE NSOA BOARD OF DIRECTORS, A DETAILED REVIEW WAS PERFORMED BY THE NSOA'S CHIEF FINANCIAL OFFICER, EXECUTIVE DIRECTOR AND THE JOHN F. KENNEDY CENTER FOR THE PERFORMING ARTS' (KENNEDY CENTER) CONTROLLER. AFTER THE RETURN WAS FINALIZED, MANAGEMENT PROVIDED IT TO EACH DIRECTOR VIA EMAIL/WEBSITE PRIOR TO FILING THE RETURN WITH THE IRS. QUESTIONS, IF ANY, WERE DIRECTED TO AND ADDRESSED BY THE KENNEDY CENTER'S CONTROLLER. RESPONSES TO NOTABLE QUESTIONS WERE PROVIDED TO ALL NSOA DIRECTORS FOR THEIR INFORMATION AND COMMUNICATED TO THE KENNEDY CENTER'S AUDIT COMMITTEE. |
FORM 990, PART VI, LINE 12C. ENFORCEMENT OF POLICY: |
THE CONFLICT OF INTEREST POLICY (POLICY) APPLIES TO ALL MEMBERS OF THE BOARD OF DIRECTORS (EXECUTIVE DIRECTOR AND CHIEF FINANCIAL OFFICER ARE EMPLOYEES OF THE KENNEDY CENTER AND SUBJECT TO THAT ORGANIZATION'S CONFLICT OF INTEREST POLICY). THE POLICY COVERS TRANSACTIONS BETWEEN THE NSOA AND (A) MEMBERS OF THE BOARD OF DIRECTORS, (B) THEIR FAMILY MEMBERS AND/OR (C) AN AFFILIATED ENTITY. TO ASSIST THE NSOA IN IDENTIFYING TRANSACTIONS WHERE THERE MAY BE AN ACTUAL OR PERCEIVED CONFLICT OF INTEREST, EACH DIRECTOR SHALL COMPLETE AND SIGN AN ANNUAL CONFLICT OF INTEREST DECLARATION (DECLARATION) AND SHALL, AS NECESSARY, UPDATE THE DECLARATION TO REFLECT ANY CHANGES DURING THE COURSE OF THE YEAR. DECLARATIONS COMPLETED BY DIRECTORS ARE REVIEWED BY THE KENNEDY CENTER'S GENERAL COUNSEL'S OFFICE. WHEN A DIRECTOR BECOMES AWARE OF A CONFLICT, HE OR SHE HAS THE DUTY TO IMMEDIATELY DISCLOSE THE EXISTENCE AND CIRCUMSTANCES OF THE CONFLICT TO THE CHAIR OF THE BOARD OF DIRECTORS (IF A CONFLICT WERE TO INVOLVE THE CHAIR OF THE BOARD OF DIRECTORS, THE EXISTENCE AND CIRCUMSTANCES OF THE CONFLICT WOULD BE DISCLOSED TO THE TREASURER). THE AFFECTED INDIVIDUAL MUST (A) REFRAIN FROM USING HIS OR HER PERSONAL INFLUENCE TO ENCOURAGE THE NSOA TO ENTER INTO/NOT ENTER INTO THE TRANSACTION, AND (B) PHYSICALLY EXCUSE HIMSELF OR HERSELF FROM PARTICIPATION IN ANY DISCUSSIONS REGARDING THE TRANSACTION, EXCEPT TO RESPOND TO REQUESTS FOR INFORMATION. IF A CONFLICT IS DISCLOSED IN A DECLARATION OR TO THE CHAIR OF THE BOARD OF DIRECTORS, IT WILL BE REVIEWED BY THE NSOA'S EXECUTIVE COMMITTEE. DURING THE EXECUTIVE COMMITTEE'S REVIEW, IT WILL CONSIDER WHETHER, ABSENT THE PARTICIPATION OF THE AFFECTED DIRECTOR, ANY PROPOSED CONFLICT IS FAIR AND REASONABLE TO THE NSOA. THE EXECUTIVE COMMITTEE WILL MAINTAIN SUCH DOCUMENTATION AS MAY BE NECESSARY AND APPROPRIATE TO DOCUMENT THE REVIEW OF THE CONFLICT AND WILL REPORT TO THE BOARD OF DIRECTORS ON CONFLICTS (WHETHER APPROVED OR NOT). THE EXECUTIVE COMMITTEE MAY SEEK ADVICE FROM THE KENNEDY CENTER'S GENERAL COUNSEL'S OFFICE OR FROM OUTSIDE ADVISORS. SUCH ADVICE WILL GENERALLY BE IN CONNECTION WITH EITHER THE REVIEW OF ANY CONFLICT OR WITH THE ADMINISTRATION OF THE POLICY. |
FORM 990, PART VI, LINES 15A - 15B. COMPENSATION PROCESS: |
THE NSOA HAS NO EMPLOYEES OF ITS OWN. THE SALARIES OF THE EXECUTIVE DIRECTOR AND CHIEF FINANCIAL OFFICER, WHO ARE EMPLOYEES OF THE KENNEDY CENTER, ARE DETERMINED UNDER POLICIES DISCLOSED ON THE KENNEDY CENTER'S FORM 990. |
FORM 990, PART VI, LINE 19. GOVERNING DOCUMENTS DISCLOSURE: |
THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT AVAILABLE TO THE PUBLIC. |
FORM 990,PART XII, LINE 2C. FINANCIAL REVIEW PROCESS: |
THE NSOA DOES NOT HAVE A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS OR SELECTION OF AN INDEPENDENT ACCOUNTANT. THE NSOA'S FINANCIAL STATEMENTS ARE ISSUED ON A CONSOLIDATED BASIS WITH THE KENNEDY CENTER. THE KENNEDY CENTER HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE CONSOLIDATED FINANCIAL STATEMENTS AND ASSUMES RESPONSIBILITY FOR SELECTION OF AN INDEPENDENT ACCOUNTANT. |