Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| FORM 990, PART I, LINE 1 - MISSION: | RIAA'S SEVERAL HUNDRED MEMBERS - RANGING FROM MAJOR AMERICAN MUSIC GROUPS WITH GLOBAL REACH TO ARTIST-OWNED LABELS AND SMALL BUSINESSES - MAKE UP THE WORLD'S MOST VIBRANT AND INNOVATIVE MUSIC COMMUNITY, WORKING TO HELP ARTISTS REACH THEIR POTENTIAL AND CONNECT WITH FANS WHILE SUPPORTING HUNDREDS OF THOUSANDS OF AMERICAN JOBS. |
| FORM 990, PART I, LINE 5 - EXPLANATION OF NUMBER OF EMPLOYEES: | TOTAL NUMBER REFERS TO THE NUMBER OF EMPLOYEES WHO WERE ISSUED A W-2 FROM THE RIAA DURING THE CALENDAR YEAR. THIS NUMBER WILL DIFFER FROM THE APPROVED HEADCOUNT BY THE BOARD OF DIRECTORS. |
| FORM 990, PART I, LINE 6 - EXPLANATION OF NUMBER OF VOLUNTEERS: | RIAA DOES NOT CONSIDER ITS BOARD MEMBERS AS VOLUNTEERS. WHILE THE MEMBERS OF OUR BOARD ARE NOT COMPENSATED BY RIAA, THEY ARE REQUIRED TO SERVE AS BOARD MEMBERS BY RIAA'S CORPORATE MEMBERS, WHO ARE THEIR EMPLOYERS. |
| FORM 990, PART VI, SECTION A, LINE 3 - MANAGEMENT DUTIES: | SHAPE ADVOCACY - THIS FIRM HELPS RIAA MANAGE ITS COMMUNICATIONS AND PUBLIC RELATIONS INITIATIVES. |
| FORM 990, PART VI, SECTION A, LINE 6 - MEMBERSHIP: | THE RIAA IS A 501(C)(6) MEMBERSHIP ORGANIZATION FOR THE MAJOR MUSIC COMPANIES THAT DISTRIBUTE LEGITIMATE RECORDED MUSIC PRODUCED AND SOLD IN THE UNITED STATES. |
| FORM 990, PART VI, SECTION A, LINE 7A - Member power: | PER OUR CURRENT BYLAWS, MEMBERS ARE ENTITLED TO A CERTAIN NUMBER OF DIRECTORSHIPS ON OUR BOARD OF DIRECTORS, BASED ON THEIR MEMBER CLASSIFICATION. MEMBERS ALSO HAVE THE POWER TO AMEND THE BYLAWS. |
| FORM 990, PART VI, SECTION B, LINE 11 - 990 REVIEW: | THE FORM 990 IS PREPARED BY THE RIAA FINANCE DEPARTMENT. THE RETURN IS THEN REVIEWED BY THE CFO AND THE LEGAL AFFAIRS AND DEPUTY GENERAL COUNSEL ALONG WITH OUR TAX FIRM. THE 990 IS THEN SENT TO OUR BOARD OF DIRECTORS SEVEN DAYS PRIOR TO FILING THE RETURN TO REVIEW AND PROVIDE ANY COMMENTS OR QUESTIONS. AFTER ALL QUESTIONS OR COMMENTS ARE ADDRESSED, THE RETURN IS FILED. |
| FORM 990, PART VI, SECTION B, LINE 12C - CONFLICT OF INTEREST: | ALL BOARD MEMBERS, OFFICERS AND KEY EMPLOYEES ARE REQUIRED TO COMPLETE A CONFLICT-OF-INTEREST FORM ANNUALLY. THE FORM REQUIRES THE INDIVIDUALS TO ACKNOWLEDGE THEIR READING AND UNDERSTANDING OF THE POLICY, CONFIRMATION THAT THE INDIVIDUAL COMPLIED WITH THE POLICY DURING THE PRECEDING YEAR AND UP TO THE DATE OF COMPLETING THE FORM, DISCLOSE ANY REAL OR POTENTIAL CONFLICTS OF INTEREST, AND AN UNDERTAKING TO PROMPTLY ADVISE THE DEPUTY GENERAL COUNSEL UPON BECOMING AWARE OF ANY CONFLICT. DISCLOSURES ARE REVIEWED BY THE DEPUTY GENERAL COUNSEL, WHO MONITORS COMPLIANCE WITH THE POLICY AND ENSURES APPROPRIATE FOLLOW-UP AS NEEDED. |
| FORM 990, PART VI, SECTION B, LINE 15 - COMPENSATION: | THE RIAA CONSIDERS RELEVANT FOR-PROFIT AND NOT-FOR-PROFIT COMPARATIVE SALARY DATA TO ATTRACT AND RETAIN THE MOST QUALIFIED TALENT TO FULFILL THE MISSION OF THE ORGANIZATION. ESTABLISHING THE APPROPRIATE COMPENSATION FOR STAFF POSITIONS CONSIDERS EXTERNAL SALARY DATA, INTERNAL CRITERIA, AND AN INDIVIDUAL'S ACTUAL PERFORMANCE AND CONTRIBUTION. INTERNAL CRITERIA IS BASED ON A STANDARD APPROACH THAT MEASURES THE INTERNAL VALUE OF POSITIONS, INCLUDING COMPLEXITY AND SCOPE OF RESPONSIBILITY, EXPERIENCE COMPETENCIES, EDUCATION, AND THE REPORTING RELATIONSHIP OF THE POSITION. AN INDIVIDUAL'S ACTUAL PERFORMANCE AND CONTRIBUTION IS MEASURED THROUGH RIAA'S PERFORMANCE MANAGEMENT APPROACH AND THEN REWARDED THROUGH RIAA'S ANNUAL BASE PAY MERIT AND INCENTIVE PLAN. RIAA HAS ESTABLISHED COMPENSATION GUIDELINES THAT ARE APPROVED BY THE EXECUTIVE COMMITTEE AND MANAGED BY THE CEO. IT IS WITHIN THE CEO'S PURVIEW TO APPROVE ALL STAFF SALARIES AND INCENTIVES. FOR THE CEO, THE BOARD OF DIRECTORS EXECUTIVE COMMITTEE ANNUALLY REVIEWS THE REASONABLENESS OF THE TOTAL COMPENSATION AND APPROVES ALL MERIT INCREASES AND INCENTIVES. |
| FORM 990, PART VI, SECTION C, LINE 19 - PUBLIC INSPECTION: | THE RIAA COMPLIES WITH THE PUBLIC INSPECTION REQUIREMENTS OF INTERNAL REVENUE CODE SECTION 6104 BY MAKING ITS FORM 1024, APPLICATION FOR RECOGNITION OF EXEMPTION UNDER SECTION 501(A), DETERMINATION LETTER FROM THE IRS, AND THE FORMS 990 FOR ITS THREE MOST RECENTLY COMPLETED TAX PERIODS AVAILABLE TO THE PUBLIC. HOWEVER, AS SECTION 6104 DOES NOT REQUIRE ORGANIZATIONS EXEMPT UNDER SECTION 501(C)(6) TO DISCLOSE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES, OR FINANCIAL STATEMENTS, THE RIAA HAS CHOSEN NOT TO MAKE SUCH INFORMATION AVAILABLE FOR PUBLIC INSPECTION. |
| FORM 990, PART IV, LINE 12 & PART XII, LINE 2B - FINANCIAL STATEMENTS: | RIAA'S FINANCIAL STATEMENTS ARE AUDITED AND PRESENTED ON A CONSOLIDATED BASIS, INCLUDING ITS AFFILIATE, THE RECORDING INDUSTRY ASSOCIATION OF AMERICA PAC. |
| Form 990, Part XII, Line 2c - OVERSIGHT OF AUDIT: | THERE HAVE BEEN NO CHANGES DURING THE YEAR IN THE PROCESS FOR OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS. |
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