2025-07-10T15:10:15-05:00 2023-06-30 941254756 HOOD & STRONG LLP 2580 N 1ST ST STE 460 SAN JOSE CA 95131 990 2022-07-01 941156610 SAN FRANCISCO CONSERVATORY OF MUSIC SANF 4155036431 50 OAK STREET SAN FRANCISCO CA 94102 REGINA LEE V.P. FINANCE & ADMIN 4155036431 2025-07-07 1 0 MAGA E KISRIEV P01008919 4089988400 2022 2025-03-06 01:10:19Z X DAVID STULL 50 OAK STREET SAN FRANCISCO CA 94102 184536609 0 X WWW.SFCM.EDU X 1923 CA THE CONSERVATORY OFFERS UNDERGRADUATE, GRADUATE AND POSTGRADUATE MUSICAL EDUCATION. 29 29 769 29 2395 0 26086269 94605147 27448229 27278463 3323856 3722127 2488904 2305373 59347258 127911110 13900972 14025586 0 0 21701703 25491256 59220 389132 2584109 18368096 19089020 54029991 58994994 5317267 68916116 332329628 383662817 105894710 90174999 226434918 293487818 THE SAN FRANCISCO CONSERVATORY OF MUSIC (SFCM) EDUCATES EXCEPTIONALLY TALENTED MUSICIANS FROM AROUND THE WORLD TO BECOME ARTISTS OF THE HIGHEST CALIBER, AS WELL AS MUSICAL CITIZENS PREPARED FOR THE CHALLENGES OF THE TWENTY-FIRST CENTURY. 0 0 36086138 13713456 24064991 COLLEGIATE INSTRUCTION - SFCM IS AN ACCREDITED COLLEGE GRANTING BACHELOR'S AND MASTER'S DEGREES IN MUSIC PERFORMANCE. EXPENSES INCLUDE SALARIES, SCHOLARSHIPS, RECRUITMENT, AND ACADEMIC SUPPORT (LIBRARY, STUDENT SERVICES, ETC.). 436 STUDENTS WERE ENROLLED: 3 ADVANCED CERTIFICATES, 4 ARTIST DIPLOMAS, 223 BACHELORS MUSIC, 2 CERTIFICATES, 170 MASTERS MUSIC, AND 1 PROFESSIONAL STUDIES DIPLOMAS. 445 STUDENTS RECEIVED SFCM SCHOLARSHIPS. 3887676 312130 3213472 PRE-COLLEGIATE AND ADULT EXTENSION - MUSIC INSTRUCTION FOR 4-18 YEAR OLDS AND CONTINUING EDUCATION FOR ADULTS. INSTRUCTION INCLUDES EARLY CHILDHOOD MUSIC CLASSES, PRIVATE MUSIC INSTRUCTION, AND CLASSES. EXPENSES INCLUDE SALARIES, SCHOLARSHIPS, ADVERTISING, AND SUPPORT. 280 STUDENTS WERE ENROLLED AND 67 STUDENTS RECEIVED SCHOLARSHIPS. 173 STUDENTS WERE ENROLLED IN CONTINUING EDUCATION AND ADULT EXTENSION. 39973814 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 0 1 1 0 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 1 177 0 1 769 1 1 1 1 NL 0 0 0 1 1 0 0 0 0 0 0 X 29 29 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X REGINA LEE 4155036431 50 OAK STREET SAN FRANCISCO CA 94102 TIMOTHY FOO BOARD CHAIR 10.00 X X 0 0 0 DEEPA PAKIANATHAN VICE CHAIR 1.00 X X 0 0 0 CAMILLA SMITH VICE CHAIR 1.00 X X 0 0 0 KAREN KUBIN SECRETARY 1.00 X X 0 0 0 BARBARA WALKOWSKI TREASURER 1.00 X X 0 0 0 LOCK BINGHAM TRUSTEE 1.00 X 0 0 0 JAN BUCKLEY TRUSTEE 1.00 X 0 0 0 CAROL CASEY TRUSTEE 1.00 X 0 0 0 REBECCA-SEN CHAN TRUSTEE 1.00 X 0 0 0 CHRISTIANE DE BORD TRUSTEE 1.00 X 0 0 0 LISA DELAN TRUSTEE 1.00 X 0 0 0 CAROL DOLL TRUSTEE 1.00 X 0 0 0 JAMES FREEMAN TRUSTEE 1.00 X 0 0 0 JEFFREY J GAO TRUSTEE 1.00 X 0 0 0 GARY GARABEDIAN TRUSTEE 1.00 X 0 0 0 CARL KAUFMAN TRUSTEE 1.00 X 0 0 0 DAVID KREMER TRUSTEE 1.00 X 0 0 0 SUSSAN MARINEAU TRUSTEE 1.00 X 0 0 0 PAYAM MIRRASHIDA TRUSTEE 1.00 X 0 0 0 PHILIP NICOL TRUSTEE 1.00 X 0 0 0 MARY POLAND TRUSTEE 1.00 X 0 0 0 STEPHEN RUBIN TRUSTEE 1.00 X 0 0 0 RESOMARIA SHIM TRUSTEE 1.00 X 0 0 0 MAUREEN O'BRIEN SULLIVAN TRUSTEE 1.00 X 0 0 0 JANE TOM TRUSTEE 1.00 X 0 0 0 MAURICE WERDEGAR TRUSTEE 1.00 X 0 0 0 MICHAEL WHITMAN TRUSTEE 1.00 X 0 0 0 DIANE ZACK TRUSTEE 1.00 X 0 0 0 SIWEI ZOU TRUSTEE 1.00 X 0 0 0 DAVID STULL PRESIDENT 35.00 X 651032 0 282000 KATHRYN WITTENMYER VP OF FINANCE & ADMIN (THRU 6/2/23) 35.00 X 265789 0 34972 REGINA LEE CNTLR (THRU 6/2/23) / VP FIN & ADMIN 35.00 X 188822 0 8760 JONAS WRIGHT DEAN 35.00 X 225102 0 12025 KATHLEEN NICELY VICE PRESIDENT OF ADVANCEMENT 35.00 X 272827 0 20376 SIMON JAMES COLLEGIATE FACULTY 35.00 X 234485 0 45749 YOSHIKAZU NAGAI COLLEGIATE FACULTY 35.00 X 236761 0 44276 ELIZABETH GIUDICESSI VP OF ADMISSION, MARKETING AND PR 35.00 X 240205 0 0 EDWIN OUTWATER DIRECTOR OF MUSIC 35.00 X 214235 0 17058 2529258 0 465216 53 0 1 0 CORPORATE SECURITY SERVICE INC 901 MISSION ST 80B SAN FRANCISCO CA 94103 SECURITY SERVICES 882553 ALL CLEAN LLC 611 GATEWAY BLVD SUITE 206 SOUTH SAN FRANCISCO CA 94080 JANITORIAL SERVICES 513221 TERRA NOVA INDUSTRIES 1607 TICE VALLEY BLVD WALNUT CREEK CA 94595 CONSTRUCTION SERVICES 372177 EDGEWOOD BUILDERS INC 77 VAN NESS AVE SUITE 101 1203 SAN FRANCISCO CA 94102 CONSTRUCTION SERVICES 294140 PIANOCRAFTERS INC 775 DAVIS STREET SUITE 2 PLYMOUTH MI 48170 PIANO SERVICES 271370 25 1239644 1284706 92080797 574694 94605147 TUITION AND FEES 611310 25617295 25617295 OTHER EDUCATIONAL 611710 1661168 1661168 27278463 3239613 2395 3237218 164836 164836 5302134 3127851 2174283 2174283 2174283 51936979 1505129 52354183 605411 -417204 899718 482514 482514 84448 1239644 525431 -440983 -440983 8270 12623 -4353 -4353 SVS IN RELATION TO RENTAL 711130 411590 411590 411590 127911110 27278463 2395 6025105 14025586 14025586 1540361 87486 1063979 388896 20189631 13823887 5082859 1282885 441036 267626 141684 31726 2014365 1036144 838970 139251 1305863 939891 278548 87424 339384 339384 238893 238893 389132 389132 227495 227495 2155608 1068537 1070123 16948 208530 39115 167630 1785 757503 377976 313696 65831 707796 242004 369624 96168 1579096 199392 1371587 8117 518192 208208 263038 46946 79365 51330 27903 132 4106755 2879774 1226981 5662907 2658256 3004651 14148 14148 CATERING 1697823 1662807 31819 3197 MEMBERSHIP & SUBSCRIPTI 131554 83904 33025 14625 663971 321891 331034 11046 58994994 39973814 16437071 2584109 2128848 13418246 21188060 7268780 1503486 409822 427225 288670 324426 368148 517483 277766468 35678861 247894847 242087607 57318547 116995325 402255 418102 1236767 1795801 332329628 383662817 1686521 2965574 2157722 1678207 95643490 81436417 2750000 1622 3656977 4093179 105894710 90174999 X 175253048 239703849 51181870 53783969 226434918 293487818 332329628 383662817 X 68916116 2606683 593899 -5063798 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 7147865 X 0 49497000 1018000 3638000 2537000 51616000 55862000 3396000 -7251000 2510000 49497000 43498000 3855000 11757000 3248000 55862000 43277000 2422000 312000 2513000 43498000 42871000 1019000 1966000 2579000 43277000 0.00159 0.99841 0.00000 0 0 23253041 23253041 232556682 26274603 206282079 11385723 6894728 4490995 10571022 2509530 8061492 242087607 ACCUMULATED POST-RETIREMENT BENEFIT OBLIGATION 3123559 LIBRARY DEPOSITS 169151 457(B) DEFERRED COMPENSATION OBLIGATION 281954 OPERATING LEASE LIABILITY 518515 4093179 X 117250745 2606683 -13726942 -11120259 128371004 227495 -687389 -459894 127911110 48547259 3665906 3665906 44881353 227495 13886146 14113641 58994994 PART III, LINE 4: SAN FRANCISCO CONSERVATORY OF MUSIC MAINTAINS COLLECTIONS OF MUSICAL INSTRUMENTS. THE INSTRUMENTS ARE USED IN MUSIC CLASS INSTRUCTIONS AND PERFORMANCES AT THE ORGANIZATION. PART V, LINE 4: THE CONSERVATORY HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. PART X, LINE 2: THE CONSERVATORY OPERATES AS A NOT-FORPROFIT CORPORATION AND IS EXEMPT FROM INCOME TAXES ON RELATED INCOME UNDER PROVISIONS OF THE U.S. INTERNAL REVENUE CODE, SECTION 501(C)(3) AND THE CALIFORNIA TAX CODE. THE CONSERVATORY HAS MAINTAINED ITS TAX-EXEMPT STATUS, AND ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN REFLECTED IN THESE CONSOLIDATED FINANCIAL STATEMENTS. HIGH QUALITY MUSIC PUBLISHING COMPANY B.V. AND ITS SUBSIDIARY PENTATONE IS TAXED ON ITS INCOME AS A CORPORATION. AS OF JANUARY 1, 2023, THESE COMPANIES MERGED LEAVING PENTATONE AS THE SURVIVING ENTITY. DEFERRED TAX LIABILITIES AND ASSETS ARE DETERMINED BASED UPON THE DIFFERENCE BETWEEN THE FINANCIAL STATEMENT AND TAX BASIS OF ASSETS AND LIABILITIES USING APPLICABLE TAX RATES. DEFERRED TAX ASSETS ARE ONLY RECORDED IF REALIZATION IS LIKELY. FOR INCOME TAX PURPOSES, PENTATONE'S CUMULATIVE LOSSES AS OF JUNE 30, 2023 AMOUNTED TO $5,358,000 (EUR 4,915,000). CURRENT LEGISLATION ALLOWS LOSSES TO BE OFFSET AGAINST INCOME INDEFINITELY, BUT THERE ARE LIMITS TO THE OFFSET AMOUNTS PER YEAR. LOSSES MAY BE OFFSET AGAINST PROFIT UP TO AN AMOUNT OF $1,090,000 (EUR 1 MILLION), AND LOSSES ABOVE $1,090,000 (EUR 1 MILLION) MAY BE OFFSET AGAINST 50% OF THE REMAINING TAXABLE PROFIT OF THE TAX YEAR. NO TAX BENEFIT FROM THE LOSSES HAS BEEN RECORDED DUE TO THE UNCERTAINTY OF FUTURE TAXABLE PROFITS. AS OF JUNE 30, 2023, MANAGEMENT EVALUATED SFCM'S TAX POSITIONS AND HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS. THEREFORE, NO PROVISION OR LIABILITY FOR INCOME TAXES HAS BEEN INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS NETTED AGAINST REVENUE -13,886,146. POSTRETIREMENT MEDICAL BENEFIT PLAN OBLIGATION 159,204. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES NETTED AGAINST REVENUE -3,127,851. FUNDRAISING EVENTS NETTED AGAINST REVENUE -525,432. COST OF GOODS SOLD NETTED AGAINST REVENUE -12,623. UNCOLLECTIBLE PLEDGES 2,978,517. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENTS NETTED AGAINST REVENUE 525,432. COST OF GOODS SOLD NETTED AGAINST REVENUE 12,623. RENTAL EXPENSES NETTED AGAINST REVENUE 3,127,851. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS NETTED AGAINST REVENUE 13,886,146. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 SFCM PUBLISHED ITS RACIALLY NONDISCRIMINATORY POLICY ON THE SCHOOL WEBSITE. SCHEDULE E, PART I, LINE 6 THE SAN FRANCISCO CONSERVATORY OF MUSIC MANAGES AN EXTENSIVE FINANCIAL ASSISTANCE PROGRAM TO ENSURE THAT A HIGHLY QUALIFIED AND DIVERSE POPULATION ATTENDS AND GRADUATES FROM THE CONSERVATORY. THE CONSERVATORY RECEIVES FUNDS FROM VARIOUS FEDERAL AND STATE GOVERNMENT GRANT AND LOAN PROGRAMS, INCLUDING PELL, SEOG, CWSP, PERKINS, AND FFEL. THE CONSERVATORY ALSO RECEIVES GRANTS FROM THE SAN FRANCISCO GRANTS FOR THE ARTS, HIGHER EDUCATION EMERGENCY RELIEF FUND, AND EMPLOYEE RETENTION CREDIT UNDER CARES ACT. EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES RECRUITMENT PURPOSES, ATTEND AND/OR SPEAK AT SEMINARS AND CONFERENCES. 20293 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 1 9 PROGRAM SERVICES PERFORM, PROFESSIONAL DEVELOPMENT, AND/OR RESEARCH A POTENTIAL ACQUISITION. 1435326 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 PROGRAM SERVICES RECRUITMENT PURPOSES. 708 1 9 0 0 1 9 1456327 0 1456327 0 0 0 0 1 0 PART III ACCOUNTING METHOD: X X X X X X X 1 GRENZEBACH GLIER & ASSOCIATES PO BOX 775324 CHICAGO IL 60677 FUNDRAISING CONSULTING 0 0 389132 -389132 389132 -389132 CA FOURTH HALL 1277017 1198519 78498 111742 150117 204423 ST. MARTIN IN THE FIELDS 26000 23000 3000 8418 2 21075 18125 2950 29245 8484 13002 1324092 1239644 84448 149405 158601 217425 525431 -440983 1 COLLEGIATE TUITION SCHOLARSHIPS 445 13679667 COLLEGIATE SCHOLARSHIPS - NON TUITION 22 29166 COLLEGIATE PROFESSIONAL DEVELOPMENT GRANTS 40 15623 PRE-COLLEGIATE TUITION SCHOLARSHIPS 67 301130 PART I, LINE 2: A LIST OF RECIPIENTS OF SCHOLARSHIPS AND FELLOWSHIPS IS ON FILE AT THE INSTITUTION AND IS AVAILABLE ON REQUEST. ALTHOUGH THERE MAY BE RECIPIENTS WHO ARE RELATED TO PERSONS HAVING AN INTEREST IN THE INSTITUTION, SUCH RECIPIENTS ARE SELECTED ON AN EQUAL, OBJECTIVELY DETERMINABLE BASIS WITH OTHER RECIPIENTS. THAT IS, ALL STUDENTS RECEIVING SCHOLARSHIPS AND FELLOWSHIPS ARE JUDGED WORTHY BY THE INSTITUTION'S ASSESSMENT ON THE BASIS OF ACADEMIC AND MUSIC ACHIEVEMENT, FINANCIAL NEED, AND OTHER SIMILAR STANDARDS. X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 DAVID STULL PRESIDENT 650000 0 0 0 1032 0 64875 0 217125 0 933032 0 0 0 KATHRYN WITTENMYER VP OF FINANCE & ADMIN (THRU 6/2/23) 262741 0 0 0 3048 0 13646 0 21326 0 300761 0 0 0 KATHLEEN NICELY VICE PRESIDENT OF ADVANCEMENT 272275 0 0 0 552 0 7000 0 13376 0 293203 0 0 0 YOSHIKAZU NAGAI COLLEGIATE FACULTY 236248 0 0 0 513 0 12408 0 31868 0 281037 0 0 0 SIMON JAMES COLLEGIATE FACULTY 233051 0 0 0 1434 0 12365 0 33384 0 280234 0 0 0 ELIZABETH GIUDICESSI VP OF ADMISSION, MARKETING AND PR 240000 0 0 0 205 0 0 0 0 0 240205 0 0 0 JONAS WRIGHT DEAN 224787 0 0 0 315 0 11250 0 775 0 237127 0 0 0 EDWIN OUTWATER DIRECTOR OF MUSIC 213777 0 0 0 458 0 4933 0 12125 0 231293 0 0 0 REGINA LEE CNTLR (THRU 6/2/23) / VP FIN & ADMIN 188134 0 0 0 688 0 0 0 8760 0 197582 0 0 0 PART I, LINE 1A DAVID STULL, PRESIDENT, IS REQUIRED TO LIVE IN SFCM-PROVIDED HOUSING FOR THE CONVENIENCE OF SFCM, WHICH WAS TREATED AS A NON-TAXABLE BENEFIT. PART I, LINE 4B DAVID STULL, PRESIDENT, PARTICIPATED IN 457(F) PLAN. A CALIFORNIA ENTERPRISE DEVELOPMENT AUTHORITY 352273601 2018-06-28 100000000 CONSTRUCTION OF STUDENT RESIDENCE, EDUCATIONAL AND PERFORMANCE FACILITY 0 0 0 A 100000000 4125000 95875000 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 0 1 0 0 0 1 A 0 JESSICA DOWNS FAMILY MEMBER OF DAVID STULL, PRESIDENT 62400 THE SAN FRANCISCO CONSERVATORY OF MUSIC (SFCM) HIRED A FAMILY MEMBER OF DAVID STULL, PRESIDENT, AS A PART-TIME EMPLOYEE TO PROVIDE MANAGEMENT AND COORDINATION SERVICES FOR A BI-ANNUAL EVENT SPONSORED BY SFCM. IN ADDITION, SHE MANAGES A NEW PROGRAM TO PROVIDE MUSIC CRITIQUE SUPPORT TO VARIOUS NEWSPAPERS IN THE U.S. AND ONE IN CANADA. 0 X 5 442513 FAIR MARKET VALUE X MUSICAL EQUIPMENT 5 123510 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): THIS COLUMN REPRESENTS THE NUMBER OF ITEMS CONTRIBUTED. FORM 990, PART VI, SECTION B, LINE 11B THE CONSERVATORY'S ACCOUNTING FIRM PREPARED THE FORM 990 WITH THE ASSISTANCE OF THE V.P. FINANCE. UPON ITS COMPLETION, IT WAS FORWARDED TO THE BOARD CHAIR, TREASURER, PRESIDENT, AND CHAIR OF THE AUDIT COMMITTEE FOR REVIEW PRIOR TO FILING THE FORM 990. THE ACCOUNTING FIRM PRESENTED THE FORM 990 TO THE BOARD CHAIR, PRESIDENT, CHAIR OF THE AUDIT COMMITTEE, AND V.P. FINANCE. AFTER IT WAS REVIEWED BY THE INDIVIDUALS NOTED ABOVE, ALL VOTING MEMBERS OF THE BOARD WERE NOTIFIED THAT THE FORM 990 WAS COMPLETED AND THEY WERE ENCOURAGED TO REVIEW THE FORM 990 AND FORWARD THEIR QUESTIONS TO THE V.P. FINANCE. AFTER THE STATED REVIEW PERIOD, THE FORM 990 WAS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE CONSERVATORY'S CONFLICT OF INTEREST POLICY COVERS TRUSTEES, STAFF AND FACULTY. THE POLICY DEFINES POTENTIAL CONFLICTS OF INTEREST TO INCLUDE, BUT ARE NOT LIMITED TO: FINANCIAL INTEREST; ACCEPTANCE OF GIFTS (EXCEPT FOR THOSE OF NOMINAL VALUE); DISCLOSURE OR USE OF CONFIDENTIAL INFORMATION; POSSIBLY OUTSIDE EMPLOYMENT (FOR EMPLOYEES). THE CONSERVATORY DOES RELY ON SELF-IDENTIFICATION REGARDING POTENTIAL CONFLICTS OF INTEREST. EACH MEMBER OF THE BOARD SIGNS A STATEMENT THAT THEY: 1) RECEIVED A COPY OF THE POLICY; 2) HAVE READ AND UNDERSTAND THE POLICY; 3) AGREE TO COMPLY WITH THE POLICY; 4) UNDERSTAND THAT THE POLICY APPLIES TO ALL COMMITTEES AND SUBCOMMITTEES. IN ADDITION, THEY STATE ANY CONFLICTS AND/OR ATTEST TO NONE. IF A CONFLICT OR POTENTIAL CONFLICT OF INTEREST IS FOUND FOR A TRUSTEE, HE/SHE WILL NOT BE COUNTED TOWARD A QUORUM AT ANY MEETING WHERE THE CONFLICT IS DISCUSSED, AND WILL NOT BE ALLOWED TO VOTE ON ANY ACTION REGARDING THE ISSUE. IN THE EVENT THAT A TRUSTEE (OR FAMILY MEMBER) HAS A MATERIAL FINANCIAL INTEREST IN AN ACTUAL OR CONTEMPLATED TRANSACTION, THE BOARD SHALL REQUIRE DISCLOSURE OF SUCH FINANCIAL INTEREST AND ALL MATERIAL FACTS RELATING THERETO. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES HAS AUTHORIZED THE EXECUTIVE COMMITTEE OF THE BOARD TO DETERMINE ANNUAL COMPENSATION FOR TOP MANAGEMENT. ANNUALLY, THE ASSOC. V.P. OF HR GATHERS COMPARATIVE SALARY DATA FROM AVAILABLE SOURCES AND PRESENTS THE DATA ALONG WITH PROPOSED SALARIES. THE EXECUTIVE COMMITTEE REVIEWS AND APPROVES SALARIES. THE REVIEW PROCESS AND VOTE IS RECORDED IN THE MINUTES OF THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF TIME SET FORTH IN SEC. 6104(D). ADDITIONALLY, THE AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. FORM 990, PART XI, LINE 9: POSTRETIREMENT MEDICAL BENEFIT PLAN OBLIGATION 159,204. TRANSFER TO OPUS 3 MOTHERSHIP LLC -2,244,485. UNCOLLECTIBLE PLEDGES -2,978,517. EXPLANATION FOR AMENDED 990: THE ORGANIZATION IS AMENDING ITS FORM 990 TO CORRECTLY REPORT THE NUMBER OF EMPLOYEES REPORTED ON FORM W-3. ITEMS THAT HAVE CHANGED: - FORM 990, PART I, LINE 5 - FORM 990, PART V, LINE 2A PENTATONE MUSIC BV PRINSES MARIELAAN 10 C BAARN NL 3743 JA MUSIC PUBLISHING NL 0 0 HIGH QUALITY MUSIC PUBLISHING COMPANY BV HIGH QUALITY MUSIC PUBLISHING COMPANY BV PRINSES MARIELAAN 10 C BAARN NL 3743 JA MUSIC PUBLISHING NL 0 1530357 SAN FRANCISCO CONSERVATORY OF MUSIC POOLED INCOME FUNDS (2) INVESTMENTS CA SAN FRANCISCO CONSERVATORY OF MUSIC T 1 OPUS 3 MOTHERSHIP LLC 50 OAK STREET SAN FRANCISCO CA 94102 851806862 BOOKING AGENCY CA SAN FRANCISCO CONSERVATORY OF MUSIC C 14179505 17100302 1.00000 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 OPUS 3 MOTHERSHIP LLC R 2244485 CASH