2022-05-09T12:41:02-05:00 2021-06-30 420714325 RSM US LLP 80 CITY SQUARE BOSTON MA 02129 990 2020-07-01 237225104 NEW ENGLAND CONSERVATORY OF MUSIC NEWE 6175851725 290 HUNTINGTON AVENUE BOSTON MA 02115 KRISTINA MARTIN ASSOC. VP FINANCE & CONTROLLER 6175851725 2022-05-09 1 KRISTINA MARTIN XXX-XX-XXXX LYNNE JOHNSON P00757336 6179129000 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z ANDREA KALYN 290 HUNTINGTON AVENUE BOSTON MA 02115 73862777 0 X WWW.NECMUSIC.EDU X 1867 MA NEW ENGLAND CONSERVATORY OF MUSIC (NEC) EDUCATES AND TRAINS MUSICIANS OF ALL AGES FROM AROUND THE WORLD. 23 22 1280 119 39531 0 10073887 6176167 53371223 39956442 5165298 5399364 64739 57086 68675147 51589059 17499538 15952529 0 0 32417693 29176408 0 0 1902232 19440153 19092825 69357384 64221762 -682237 -12632703 251412598 281873511 41137211 48102655 210275387 233770856 X NEW ENGLAND CONSERVATORY OF MUSIC (NEC) EDUCATES AND TRAINS MUSICIANS OF ALL AGES FROM AROUND THE WORLD. 0 0 41990867 15224747 34476623 HIGHER EDUCATION: COLLEGE - MUSIC SCHOOL WITH PROGRAMS LEADING TO BACHELOR'S DEGREES, MASTER'S DEGREES, DOCTORAL DEGREES, AND DIPLOMAS. NEC'S ENROLLMENT IS COMPRISED OF APPROXIMATELY HALF UNDERGRADUATES AND HALF GRADUATE STUDENTS. (700 STUDENTS) 4332537 0 295260 STUDENT SERVICES PROGRAM, GENERAL/OTHER: RESIDENCE HALL/DINING - ALL FRESHMEN AND SOPHOMORES ARE HOUSED AND DINE IN THE NEC RESIDENCE HALL. THE CAFETERIA IS OPEN TO THE ENTIRE COMMUNITY. (230 STUDENTS) HEALTH SERVICES - ON-SITE STUDENT HEALTH CENTER PROVIDING ROUTINE AND URGENT CARE AND REFERRALS, STAFFED BY A PHYSICIAN AND NURSE PRACTITIONERS. SUPPORTED BY STUDENT MEDICAL FEES AND INSURANCE REIMBURSEMENTS. COUNSELING SERVICES - ON-SITE CENTER PROVIDING CONFIDENTIAL COUNSELING FOR STUDENTS, STAFFED BY A PSYCHIATRIST AND PROFESSIONAL COUNSELORS. 5639412 727782 5169194 PREPARATORY AND CONTINUING EDUCATION PROGRAMS: SCHOOL OF PREPARATORY AND CONTINUING EDUCATION - MUSIC INSTRUCTION FOR CHILDREN AGES 4-18 AND ADULTS NOT LEADING TO A SPECIFIC DEGREE. PRIVATE STUDIO LESSONS ARE OFFERED AS WELL AS ENSEMBLES AND CLASSES. 6.14% FINANCIAL AID IS PROVIDED BASED PRIMARILY ON NEED. (1,590 STUDENTS) 291973 0 15365 CONCERTS AND HALL RENTALS: OTHER PROGRAM SERVICES INCLUDE EXPENSES RELATED TO OVER 1,000 FREE NEC CONCERTS PERFORMED BY STUDENTS, FACULTY AND GUEST ARTISTS PER YEAR AND EXPENSES FOR CONCERTS AT NEC PERFORMED BY OUTSIDE ORGANIZATIONS. THESE OUTSIDE ORGANIZATIONS PAY NEC HALL RENTAL FEES AND OTHER ASSOCIATED RENTAL COSTS, SUCH AS SECURITY AND LIGHTING/TECHNICAL SERVICES, RELATED TO THEIR PERFORMANCES. 291973 0 15365 52254789 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 1 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 186 0 1 1280 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 23 22 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MA X KRISTINA E MARTIN ASSOC VP FINANCE & CONTROLLER 6175851725 290 HUNTINGTON AVENUE BOSTON MA 02115 KALYN ANDREA PRESIDENT 40.00 X 565572 0 29821 KELLY KATHLEEN SENIOR VP FOR STRATEGY & INSTITUTIONAL ADVANCEMENT 40.00 X 352444 0 12037 DIONNE ELIZABETH VP FINANCE ADMIN/TREASURER (THRU 3/25/2021) 40.00 X 252480 0 37988 NOVAK THOMAS VP & PROVOST 40.00 X X 234231 0 21301 WEILERSTEIN DONALD COLLEGE FACULTY 35.00 X 213665 0 25220 EAGLEN LYSON JANE COLLEGE FACULTY 35.00 X 196473 0 24647 SARRA MICHAEL VP FOR COMMUNICATIONS 40.00 X 195768 0 21838 SOOVIN KIM COLLEGE FACULTY 35.00 X 170164 0 35730 RAINER KAIRYN FORMER VP OF ADMINISTRATION 0.00 X 198900 0 4081 LESSER LAURENCE COLLEGE FACULTY 35.00 X 182335 0 17782 MARTIN KRISTINA ASSOCIATE VP FOR FINANCE AND CONTROLLER 40.00 X 167331 0 28986 KATZ PAUL COLLEGE FACULTY 35.00 X 174590 0 14864 ATHANASIOU NIKOLAOS BOARD TRUSTEE 2.00 X 0 0 0 BAILEY ALLISON BOARD TRUSTEE (FROM 7/1/20) 2.00 X 0 0 0 BAJAKIAN CLINTON J BOARD TRUSTEE 2.00 X 0 0 0 BARTLETT ANNE A BOARD TRUSTEE 2.00 X 0 0 0 BEAL ENID L BOARD TRUSTEE 2.00 X 0 0 0 ELFERS DEBORAH B BOARD TRUSTEE 2.00 X 0 0 0 FULHAM TIMOTHY W BOARD TRUSTEE 2.00 X 0 0 0 GLAUBER BARBARA W BOARD TRUSTEE 2.00 X 0 0 0 GRAVES JR EDWIN D BOARD TRUSTEE 2.00 X 0 0 0 GRAY ERIC A BOARD TRUSTEE 2.00 X 0 0 0 HENDRIX BLAIR E BOARD TRUSTEE 2.00 X 0 0 0 JONI SAJ-NICOLE A BOARD TRUSTEE 2.00 X 0 0 0 NICHOLS MARGARET BOARD TRUSTEE 2.00 X 0 0 0 PREVOST PATRICK M BOARD TRUSTEE 2.00 X 0 0 0 RUBIN SALLY L BOARD TRUSTEE 2.00 X 0 0 0 SMITH CHAD BOARD TRUSTEE 2.00 X 0 0 0 THONIS MICHAEL BOARD TRUSTEE 2.00 X 0 0 0 WILKINS THOMAS BOARD TRUSTEE (FROM 10/17/20) 2.00 X 0 0 0 WILMERDING FRANCES B BOARD TRUSTEE 2.00 X 0 0 0 BLUMENTHAL THOMAS W VICE CHAIR 2.00 X X 0 0 0 BURNES KENNETT F BOARD CHAIR 2.00 X X 0 0 0 LODER JOHN M BOARD TRUSTEE, SECRETARY 2.00 X X 0 0 0 2903953 0 274295 62 1 1 0 GUARDIAN SECURITY & PROTECTION LLC 50 STRAWBERRY LANE CANTON MA 02021 SECURITY SERVICE 905884 AUDIO VISUAL INNOVATIONS INC PO BOX 844612 BOSTON MA 02284 AUDIO/VISUAL SERVICES 645839 RUTTER NETWORKING TECHNOLOGIES INC 10 HIGH STREET ANDOVER MA 01810 RETAIL/IT SERVICES 644555 CLINICAL RESEARCH SEQUENCING PLATFORM L 415 MAIN STREET CAMBRIDGE MA 02142 MEDICAL LABORATORIES 562500 REBECCA'S CAFE INC 99 SOUTH BEDFORD STREET SUITE 7 BURLINGTON MA 01803 FOOD SERVICES 491874 20 1033156 644422 4498589 822260 6176167 TUITION AND ACADEMIC FEES 611710 38136714 38136714 STUDENT HEALTH INSURANCE 524114 734034 734034 NON-ACADEMIC FEES 611710 474184 474184 ROOM AND BOARD 721310 25472 25472 HALL RENTALS 532000 5280 5280 580758 580758 39956442 38594 -17595 56189 15000 0 15000 15000 15000 27470079 5000 22151199 -36890 5318880 41890 5360770 57126 5303644 66075 1033156 159409 -93334 -93334 PUBLICATION 511190 9038 9038 PUBLIC RELATIONS & MARKETING 900099 6267 6267 OTHER SPECIAL EVENTS 900099 2450 2450 117665 117665 135420 51589059 39956442 39531 5416919 15952529 15952529 1842527 787542 700173 354812 22714112 19209190 2527641 977281 5326 4604 532 190 2916111 2419650 336499 159962 1698332 1385769 220332 92231 336707 160 331509 5038 106705 106705 263417 263417 2137459 1027631 1019348 90480 80234 15858 59601 4775 1646493 861829 703516 81148 1774236 183942 1590294 2792210 2222217 564399 5594 218250 102341 22207 93702 79727 55770 23057 900 1168907 1100751 65377 2779 6197043 5922814 249235 24994 STUDENT HEALTH AND FOOD 902739 902739 PAYROLL PROCESS & TEMP 117282 117282 DUES & MEMBERSHIP FEES 112622 49170 55106 8346 VIDEOGRAPHY 52530 52530 1106264 -2247 1108511 64221762 52254789 10064741 1902232 12063539 11277150 3515056 4163625 627527 402713 2025566 1666662 593580 841553 162083622 53501011 113562822 108582611 48344095 52192439 70503202 102606344 177211 140414 251412598 281873511 3079638 4887974 662211 734300 33790569 32619734 6659320 3604793 3201327 41137211 48102655 X 94370029 89567361 115905358 144203495 210275387 233770856 251412598 281873511 X -12632703 35531977 596195 X 0 1 X 1 1 1 X 19636647 7125607 10460724 10073887 6176167 53473032 19636647 7125607 10460724 10073887 6176167 53473032 5155967 48317065 636961 168983 181582 123649 71189 1182364 102821 39531 142352 122738 252286 288108 144231 201495 1008858 55806606 189368688 0.86580 0.80780 X SCHEDULE A, PART I: NEC IS BROADLY SUPPORTED IN NATURE AND IS DEEMED TO MEET THE 33 1/3% SUPPORT PUBLIC SUPPORT TEST UNDER CURRENT GUIDANCE. SINCE NEC USES THE SPECIAL RULE BASED ON MEETING THE 33 1/3% SUPPORT TEST ON SCHEDULE B, NEC IS REQUIRED TO DISCLOSE THE PART II, SUPPORT SCHEDULE FOR ORGANIZATIONS DESCRIBED IN SECTIONS 170(B)(1)(A)(IV) AND 170(B)(1)(A)(VI). RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 1 119213753 822528 40587444 2805870 2755796 263417 154798642 122469876 784577 1699410 2806019 2694137 239954 119213753 124386612 4330831 3274161 4744925 4530767 246036 122469876 116917341 2875563 10273546 3013477 2422780 243581 124386612 105735542 4196622 12411747 2374497 2835121 216952 116917341 0.14030 0.82940 0.03030 0 0 1269497 1269497 134088252 40776542 93311710 26128900 12724469 13404431 596973 596973 108582611 BRANDYWINE GLOBAL OPPORTUNISTIC 4020593 F ADAMAS OPPORTUNITIES L.P. 153107 F ADAMAS PARTNERS L.P. 351204 F AQR CAPITAL MANAGEMENT 57379 F BAUPOST VALUE PARTNERS IV, LP 17091742 F SEAMANS GLOBAL OPPORTUNITIES FUND, LLC 24106 F BROOKSIDE CAYMAN, LIMITED 426 F SANDERSON INTERNATIONAL VALUE FUND 9193201 F MARATHON-LONDON EMERGING MARKETS 4508861 F WESTWOOD GLOBAL INVESTMENTS 4519268 F KLINE HILL PARTNERS FUND II LP 585888 F BAIN CAPITAL FUND XI 1087809 F HIGHLAND CAPITAL PARTNERS 9-B LP 1715854 F ARROWSTREET CAPITAL 13665773 F KABOUTER 4477409 F DOVER STREET IX 831050 F HIGHBAR PARTNERS III 856249 F COMMONFUND CAPITAL PARTNERS 2000, LP 78501 F MIT PRIVATE EQUITY FUND III,LP 2275813 F MIT PRIVATE EQUITY FUND,LP 16234 F HRJ SPECIAL OPPORTUNITIES FUND II 271184 F PARK STREET CAPITAL PRIVATE EQUITY FUND IX, LP 1015925 F HIGHLAND CAPITAL PARTNERS VIII-B LP 1084562 F TRUEBRIDGE-KAUFFMAN FELLOWS ENDOWMENT FUND II, LP 2552233 F CAPITAL TODAY CHINA GROWTH FUND, II 2797923 F FISHER LYNCH VENTURE PARTNERSHIP II-A, L.P. 3049132 F CONTRARIAN DISTRESSED REAL ESTATE DEBT FUND II, L.P. 57664 F PERMIT CAPITAL MORTGAGE,LP-SERIES K 14233 F OHA EUROPEAN STRATEGIC CREDIT FUND (OFF SHORE) 40710 F DOVER STREET VIII 175706 F HIGHLAND CAPITAL PARTNERS 10 1673865 F STATE STREET REAL ASSET NON-LENDING COMMON TRUST FUND 3038559 F BLUE TORCH CREDIT OPPORTUNITIES 660465 F SENATOR GLOBAL OPPORTUNITY OFFSHORE FUND II LTD 2567795 F DOVER STREET X FEEDER FUND 699212 F HBK MULTI-STRATEGY OFFSHORE FUND LTD 2677041 F SACHEM HEAD OFFSHORE LTD. 2635015 F BLUE TORCH OFFSHORE CREDIT OPPORTUNITIES FUND II 133760 F OBVIOUS GROWTH I LP 590000 F D. E. SHAW U.S. BROAD MARKET CORE ALPHA EXTENSION FUND, L.L.C. 11360893 F 102606344 PERKINS LOAN REFUNDABLE ADVANCES 2259798 PLANNED GIVING LIABILITY 786749 FINANCE LEASE LIABILITY 154780 3201327 X 71702060 35531977 -15314968 20217009 51485051 263417 -159409 104008 51589059 48206591 159409 159409 48047182 263417 15911163 16174580 64221762 PART III, LINE 1A: THE CONSERVATORY MAINTAINS COLLECTIONS OF HISTORICAL INSTRUMENTS, ART, VOCAL SCORES, RECORDINGS, AND LITERARY WORKS. THESE COLLECTIONS ARE PROTECTED AND PRESERVED FOR PUBLIC EXHIBITION, EDUCATION, RESEARCH, AND THE FURTHERANCE OF PUBLIC SERVICE. THEY ARE NEITHER DISPOSED OF FOR FINANCIAL GAIN NOR ENCUMBERED IN ANY MANNER. ACCORDINGLY, THESE COLLECTIONS ARE NOT CAPITALIZED FOR FINANCIAL STATEMENT PURPOSES. PROCEEDS FROM DEACCESSIONS OR INSURANCE RECOVERIES ARE REFLECTED AS INCREASES IN THE APPROPRIATE NET ASSET CLASS. PART III, LINE 4: NEC'S HISTORICAL INSTRUMENTS ARE EXHIBITED AS ART OBJECTS ON CAMPUS AND AT THE MUSEUM OF FINE ARTS, BOSTON. NEC'S RARE BOOKS, RECORDINGS AND LETTERS ARE PART OF ITS LIBRARY HOLDINGS, AVAILABLE FOR RESEARCH BY NEC STUDENTS AND STAFF AS WELL AS OTHERS FROM THE COMMUNITY. PART V, LINE 4: ENDOWMENT REVENUE IS USED TO SUPPORT PROGRAM-RELATED ACTIVITIES. PART X, LINE 2: THE CONSERVATORY RECOGNIZES THE FINANCIAL STATEMENT BENEFIT OF A TAX POSITION ONLY AFTER DETERMINING THAT THE RELEVANT TAX AUTHORITY WOULD MORE LIKELY THAN NOT SUSTAIN THE POSITION FOLLOWING AN AUDIT. TAX POSITIONS FOR THE OPEN TAX YEARS AS OF JUNE 30, 2021, WERE REVIEWED, AND IT WAS DETERMINED THAT NO PROVISION FOR UNCERTAIN TAX POSITIONS WAS REQUIRED AS OF JUNE 30, 2021 OR 2020. MANAGEMENT BELIEVES THAT THE CONSERVATORY'S FEDERAL AND STATE RETURNS ARE GENERALLY OPEN FOR EXAMINATION FOR THREE YEARS FOLLOWING THE DATE FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF PLANNED GIVING NET ASSETS 596,195. TUITION & DORM SCHOLARSHIP -15,875,422. ATTRITION IN ENVIRONMENTAL LIABILITY -35,741. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EVENTS EXPENSES REPORTED ON FORM 990, PART VIII, LINE 8B -159,409. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENTS EXPENSES REPORTED ON FORM 990, PART VIII, LINE 8B 159,409. PART XII, LINE 4B - OTHER ADJUSTMENTS: TUITION & DORM SCHOLARSHIP 15,875,422. ATTRITION IN ENVIRONMENTAL LIABILITY 35,741. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 NEC INCLUDES ITS NONDISCRIMINATION POLICY IN BROCHURES, CATALOGUES, AND COMPARABLE MATERIALS RELATED TO STUDENT ADMISSIONS, PROGRAMS, AND SCHOLARSHIPS TO COMPLY WITH THE PUBLICITY REQUIREMENT. NEC STUDENTS COME FROM AROUND THE WORLD, AND, AS SUCH, FOLLOWS THIS NONDISCRIMINATION POLICY. SCHEDULE E, PART I, LINE 6 US DEPARTMENT OF EDUCATION STUDENT GRANTS AND LOANS $7,457,586; COMMONWEALTH OF MASSACHUSETTS CULTURAL COUNCIL $30,000; HIGHER EDUCATION EMERGENCY RELIEF FUNDS $653,132. NEW ENGALAND CONSERVATORY OF MUSIC (THE CONSERVATORY) RECEIVED FUNDING FROM THE FEDERAL GOVERNMENT AS PART OF THE HIGHER EDUCATION EMERGENCY RELIEF FUNDS (HEERF) INCLUDED IN THE VARIOUS COVID-19 FUNDING PACKAGES. DURING THE YEAR ENDED JUNE 30, 2021 THE CONSERVATORY WAS AUTHORIZED TO RECEIVE AN ADDITIONAL $652,599 DIRECTED TOWARDS EMERGENCY FINANCIAL AID TO STUDENTS AND $938,412 DIRECTED TOWARDS INSTITUTIONAL EXPENSES. AS OF JUNE 30, 2021, THE CONSERVATORY HAD MET THE CONDITIONS OF $653,132 OF THE 2021 GRANTS WHICH ARE RECORDED WITHIN GOVERNMENT GRANTS IN THE ACCOMPANYING STATEMENT OF ACTIVITIES. THE BALANCE OF $937,879 HAD NOT BEEN DRAWN ON OR EXPENDED DURING THE YEAR ENDED JUNE 30, 2021 AND THEREFORE IT IS EXPECTED TO BE RECOGNIZED DURING THE YEAR ENDED JUNE 30, 2022. EUROPE (INCLUDING ICELAND & GREENLAND) 0 1 PROGRAM SERVICES ACADEMIC ACTIVITIES 47884 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES ACADEMIC ACTIVITIES 400 NORTH AMERICA 0 1 PROGRAM SERVICES ACADEMIC ACTIVITIES 33750 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 14846066 0 2 0 0 0 2 14928100 0 14928100 1 0 1 1 1 0 PART III ACCOUNTING METHOD: BOSTON GALA 1099231 1033156 66075 46850 99531 13028 1099231 1033156 66075 46850 99531 13028 159409 -93334 1 SCHOLARSHIP AND OTHER FINANCIAL AID 954 15952529 PART I, LINE 2: THE AWARDING OF STUDENT FINANCIAL AID GRANTS UNDER THE U.S. DEPARTMENT OF EDUCATION'S STUDENT FINANCIAL ASSISTANCE PROGRAM IS MONITERED BY NEC'S FINANCIAL AID OFFICE, WHICH ENSURES THAT NEC MEETS THE COMPLIANCE REQUIREMENTS OF TITLE 2 U.S. CODE OF FEDERAL REGULATIONS (CFR) PART 200. NEC'S FINANCIAL AID OFFICE AND BUSINESS OFFICE ARE RESPONSIBLE FOR ESTABLISHING AND MAINTAINING EFFECTIVE INTERNAL CONTROLS OVER COMPLIANCE WITH THE REQUIREMENTS OF LAWS, REGULATIONS, CONTRACTS, AND GRANTS APPLICABLE TO FEDERAL PROGRAMS. ONLY CURRENT NEC STUDENTS IN GOOD STANDING ARE PROVIDED SCHOLARSHIP GRANTS OR OTHER FINANCIAL ASSISTANCE. GRANTS AND ASSISTANCE TO NEC COLLEGE STUDENTS ARE IN THE FORM OF INSTITUTIONAL SCHOLARSHIPS. ALL COLLEGE SCHOLARSHIPS ARE ADMINISTERED THROUGH NEC'S FINANCIAL AID SYSTEM. INSTITUTIONAL SCHOLARSHIPS ARE CREDITED TO THE STUDENT'S INTERNAL TUITION ACCOUNT AND REPRESENT AN OFFSET TO TUITION AND OTHER FEES ASSESSED BY NEC. PREPARATORY PROGRAM, CONTINUING EDUCATION PROGRAM AND SUMMER SESSION SCHOLARSHIPS ARE TRACKED SEPARATELY AND ADMINISTERED THROUGH NEC'S STUDENT BILLING SYSTEM. PREPARATORY PROGRAM, CONTINUING EDUCATION PROGRAM AND SUMMER SESSION SCHOLARSHIPS ARE CREDITED TO THE STUDENT'S INTERNAL TUITION ACCOUNT AND REPRESENT AN OFFSET TO TUITION AND OTHER FEES ASSESSED BY NEC. GRANTS AND ASSISTANCE TO NEC STAFF AND THEIR ELIGIBLE SPOUSES AND DEPENDENTS ARE IN THE FORM OF STAFF TUITION WAIVERS, PURSUANT TO A WRITTEN BENEFITS PLAN. STAFF TUITION WAIVERS ARE ADMINISTERED THROUGH THE CONSERVATORY'S BENEFITS SYSTEM AND, LIKE INSTITUTIONAL SCHOLARSHIPS FOR STUDENTS, ARE CREDITED TO THE INDIVIDUAL'S INTERNAL ACCOUNT TO OFFSET TUITION CHANGES. ALL STUDENTS RECEIVING SCHOLARSHIPS AND FELLOWSHIPS ARE JUDGED WORTHY BY THE INSTITUTION'S ASSESSMENT ON THE BASIS OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED AND OTHER SIMILAR STANDARDS. X 1 0 X X X 1 0 0 0 0 0 0 0 0 KALYN ANDREA PRESIDENT 444754 0 0 0 120818 0 12692 0 17129 0 595393 0 0 0 KELLY KATHLEEN SENIOR VP FOR STRATEGY & INSTITUTIONAL ADVANCEMENT 349191 0 0 0 3253 0 8885 0 3152 0 364481 0 0 0 DIONNE ELIZABETH VP FINANCE ADMIN/TREASURER (THRU 3/25/2021) 250175 0 0 0 2305 0 7200 0 30788 0 290468 0 0 0 NOVAK THOMAS VP & PROVOST 229118 0 0 0 5113 0 5826 0 15475 0 255532 0 0 0 WEILERSTEIN DONALD COLLEGE FACULTY 212995 0 0 0 670 0 5234 0 19986 0 238885 0 0 0 EAGLEN LYSON JANE COLLEGE FACULTY 185682 0 0 0 10791 0 5130 0 19517 0 221120 0 0 0 SARRA MICHAEL VP FOR COMMUNICATIONS 195282 0 0 0 486 0 5077 0 16761 0 217606 0 0 0 SOOVIN KIM COLLEGE FACULTY 159995 0 0 0 10169 0 5071 0 30659 0 205894 0 0 0 RAINER KAIRYN FORMER VP OF ADMINISTRATION 0 0 0 0 198900 0 0 0 4081 0 202981 0 0 0 LESSER LAURENCE COLLEGE FACULTY 182335 0 0 0 0 0 4536 0 13246 0 200117 0 0 0 MARTIN KRISTINA ASSOCIATE VP FOR FINANCE AND CONTROLLER 167054 0 0 0 277 0 4468 0 24518 0 196317 0 0 0 KATZ PAUL COLLEGE FACULTY 174590 0 0 0 0 0 4426 0 10438 0 189454 0 0 0 PART I, LINE 1A A $110,858 HOUSING ALLOWANCE WAS PROVIDED TO PRESIDENT ANDREA KALYN. A $10,000 ANNUAL HOUSING ALLOWANCE WAS PROVIDED TO FACULTY MEMBER, JANE EAGLEN (LYSON). A $10,000 ANNUAL HOUSING ALLOWANCE WAS PROVIDED TO FACULTY MEMBER, SOOVIN KIM. THE HOUSING ALLOWANCES WERE REPORTED AS TAXABLE COMPENSATION. PART I, LINE 4A SEVERANCE IN THE AMOUNT OF $198,900 WAS PROVIDED TO KAIRYN RAINER IN 2020. A MASS DEVELOPMENT FINANCE AGENCY 043431814 2014-06-30 23685000 REFUNDING SERIES 2008 BONDS 0 0 0 B MASS DEVELOPMENT FINANCE AGENCY 043431814 2015-11-17 16050000 CAPITAL EXPENDITURES 0 0 0 A 5105000 23685000 23389001 295999 1 1 1 1 B 1545758 16050000 699869 285794 15024817 39520 2017 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 1 0.11540 1 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 B 1 PART III, LINE 8: ON MARCH 9, 2016, $2,595,000 OF THE SERIES 2014 BONDS WERE REMEDIATED IN CONNECTION WITH THE SALE OF 295 HUNTINGTON AVENUE (THE REMEDIATED BONDS). THE REMEDIATED BONDS WERE REPURPOSED TO FUND THE STUDENT LIFE AND PERFORMANCE CENTER PROJECT. ALL OTHER TERMS OF THE REMEDIATED BONDS REMAIN THE SAME AS THOSE FOR THE SERIES 2014 BONDS. ON MARCH 1, 2021, THE SERIES 2014 BONDS AND THE SERIES 2015 BONDS (THE BONDS) WERE AMENDED TO ADJUST THE INTEREST RATE FROM 3.34% TO 2.34% EFFECTIVE MARCH 19, 2021. NO OTHER TERMS OF THE BONDS WERE MODIFIED. PRINCIPAL AND INTEREST ON THE BONDS IS PAYABLE MONTHLY. X 8 X 44 726915 FMV X INSTRUMENTS 6 95345 FMV 3 1 1 1 PART I, COLUMN (B): PART I, COLUMN (B): NEC IS REPORTING A COMBINATION OF BOTH THE NUMBER OF CONTRIBUTIONS AND THE NUMBER OF ITEMS RECEIVED. PART I, LINE 1, WORKS OF ART, COLUMN (B): THE NUMBER OF ITEMS ARE REPORTED. PART I, LINE 9, SECURITIES PUBLICLY TRADED, COLUMN (B): THE NUMBER OF CONTRIBUTIONS ARE REPORTED. PART I, LINE 25, INSTRUMENTS, COLUMN (B): THE NUMBER OF ITEMS ARE REPORTED. PART I, LINE 30B: ALL NEW PERMANENTLY RESTRICTED GIFTS REQUIRE A HOLDING PERIOD OF THREE YEARS WITHIN THE ENDOWMENT BEFORE USE OF THE INCOME PRODUCED IS ALLOWED. PART I, LINE 32B: UBS IS THE STOCK BROKER TO WHICH NEC DIRECTS DONORS WHO WOULD LIKE TO MAKE STOCK GIFTS TO THE ORGANIZATION. UBS ACCEPTS AND LIQUIDATES EACH STOCK GIFT AND SENDS THE PROCEEDS TO NEC. CAR PROGRAM INC. IS USED BY NEC TO BROKER VEHICLE DONATIONS. HOWEVER, NO VEHICLE DONATIONS WERE RECEIVED IN THE CURRENT TAX YEAR. FORM 990, PART VI, SECTION B, LINE 11B IN JUNE 2020, NEC'S BOARD OF TRUSTEES VOTED TO DELEGATE REVIEW AND APPROVAL OF THE FORM 990 TO THE AUDIT COMMITTEE. THE AUDIT COMMITTEE RECEIVES A COPY OF THE DRAFT FORM 990 WITHOUT SCHEDULE B PRIOR TO THE MEETING AT WHICH THEY REVIEW THE FORM 990. AT THE MEETING, MEMBERS OF THE AUDIT COMMITTEE RECEIVE A PRESENTATION ON THE FORM 990 FROM MANAGEMENT AND PROVIDE INPUT ON THE FORM 990. IN ADDITION, NEC HAS TAX ADVISORS FROM A NATIONAL ACCOUNTING FIRM REVIEW THE FORM 990. LASTLY, A FINAL COPY OF THE FORM 990 WITHOUT SCHEDULE B IS PROVIDED TO ALL TRUSTEES PRIOR TO ELECTRONICALLY FILING THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED TO OFFICERS, TRUSTEES AND KEY EMPLOYEES ANNUALLY. ALL OF THESE INDIVIDUALS ARE REQUIRED TO COMPLETE THE FORM FOR THE PAST FISCAL YEAR AND DISCLOSE ANY CONFLICTS OF INTEREST WITHIN THE FORM. THE POLICY ALSO INDICATES THAT OFFICERS, TRUSTEES AND KEY EMPLOYEES ARE REQUIRED TO MAKE CONFLICT OF INTEREST DISCLOSURES AT ANY TIME DURING THE YEAR THAT THEY BECOME AWARE OF A CONFLICT OF INTEREST. THESE CONFLICTS ARE REVIEWED BY THE CONTROLLER AS WELL AS THE AUDIT COMMITTEE AND DISCLOSED WITHIN THE ANNUAL FINANCIAL REPORT IF MATERIAL AND ON FORM 990 IF THEY MEET THE STATED IRS THRESHOLDS. INDIVIDUALS WHO HAVE CONFLICTS OF INTEREST OR ARE OTHERWISE NOT INDEPENDENT FROM NEC DUE TO A BUSINESS RELATIONSHIP OR RECEIVING COMPENSATION FROM NEC RECUSE THEMSELVES FROM BOARD OF TRUSTEES VOTES ON MATTERS HAVING TO DO WITH THEIR TRANSACTIONS OR COMPENSATION. FORM 990, PART VI, SECTION B, LINE 15 OFFICER AND KEY EMPLOYEE COMPENSATION IS REVIEWED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES, WHICH HIRES AN INDEPENDENT COMPENSATION CONSULTANT PERIODICALLY TO COMPARE OFFICER AND KEY EMPLOYEE COMPENSATION AGAINST INDUSTRY DATA FOR SIMILARLY QUALIFIED PEOPLE, IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILAR ORGANIZATIONS. OFFICERS AND KEY EMPLOYEES' COMPENSATION PACKAGES ARE ALSO APPROVED BY THE BOARD OF TRUSTEES' EXECUTIVE COMMITTEE, WHICH IS COMPRISED OF INDIVIDUALS WITHOUT ANY CONFLICTS OF INTEREST WITH RESPECT TO THE COMPENSATION, AND THE DELIBERATIONS AND DECISIONS ARE DOCUMENTED CONTEMPORANEOUSLY AS PART OF THE COMMITTEE'S MEETINGS. FORM 990, PART VI, SECTION C, LINE 19 NEC'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). NEC'S FINANCIAL STATEMENTS ARE AVAILABLE ON THE INSTITUTION'S WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF PLANNED GIVING NET ASSETS 596,195. MEASURE FOR MEASURE LLC 1209 ORANGE STREET WILMINGTON DE 19801 237325104 TO ACQUIRE & SELL DONATED ASSETS ON BEHALF OF NEC. DE 0 0 NEW ENGLAND CONSERVATORY OF MUSIC CHARITABLE REMAINDER TRUST INVESTMENT MA NEW ENGLAND CONSERVATORY OF MUSIC 1 GIFT ANNUITIES (28) INVESTMENT MA NEW ENGLAND CONSERVATORY OF MUSIC 1 POOLED INCOME FUND (9) INVESTMENT MA NEW ENGLAND CONSERVATORY OF MUSIC 1 CHARITABLE LEAD ANNUITY TRUST INVESTMENT MA NEW ENGLAND CONSERVATORY OF MUSIC 1 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 CHARITABLE LEAD ANNUITY TRUST A 5000 CASH GIFT ANNUITIES (28) F 35602 CASH GIFT ANNUITIES (28) G 701395 CASH GIFT ANNUITIES (28) H 291335 CASH POOLED INCOME FUND (9) G 198174 CASH