2022-04-13T12:09:50-05:00 2021-05-31 135565207 KPMG LLP 60 SOUTH STREET TWO FINANCIAL CENTER BOSTON MA 02111 990 2020-06-01 042300472 BERKLEE COLLEGE OF MUSIC INC BERK 6177472287 1140 BOYLSTON STREET BOSTON MA 022153693 RICHARD HISEY CFO 6177476762 2022-04-12 1 RICHARD HISEY XXX-XX-XXXX STEPHANIE LONCZAK P01880207 6179881000 2022-04-07 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z ROGER BROWN 1140 BOYLSTON STREET BOSTON MA 022153693 328684052 0 X WWW.BERKLEE.EDU X 1945 MA THE MISSION OF BERKLEE COLLEGE OF MUSIC IS TO EDUCATE, TRAIN, AND DEVELOP STUDENTS TO EXCEL IN THE PERFORMING ARTS. 39 38 4372 50 -30316 15579 26109290 35386001 318676857 272947672 18124787 1670904 5667180 3491906 368578114 313496483 76949275 82548499 0 0 173287903 160468096 0 0 4088800 91260469 78023655 341497647 321040250 27080467 -7543767 757790141 889466260 409615815 406844486 348174326 482621774 X THE MISSION OF BERKLEE COLLEGE OF MUSIC IS TO FOSTER, ENCOURAGE AND PROMOTE THE CULTURE, STUDY, PRACTICE AND TEACHING OF VARIOUS BRANCHES OF MUSIC, THEATER, DANCING AND KINDRED ARTS AND TO CONDUCT A CONSERVATORY FOR INSTRUCTION IN THE VARIOUS BRANCHES OF MUSIC, THEATER, DANCING AND KINDRED ARTS. 0 0 218133060 80566495 221080809 EDUCATION AND INSTRUCTION: THE PROGRAM IS PROVIDED TO DEVELOP THE SKILLS AND KNOWLEDGE OF STUDENTS SEEKING DEGREES IN MUSIC, THEATER, AND DANCE. THE COLLEGE PROVIDES OUTSTANDING FACULTY AND TEACHING FACILITIES FOR OVER 10,000 STUDENTS FROM THE US AND 100 FOREIGN COUNTRIES. THE COLLEGE ALSO OFFERS A NEW WAY FOR ARTISTS AROUND THE WORLD TO JOIN THE GLOBAL MUSIC COMMUNITY-AS PERFORMERS, AS PRACTITIONERS, AND AS LEADERS WITH THE COLLEGE'S FIRST INTERNATIONAL CAMPUS IN VALENCIA. 31488476 1773354 47208386 BERKLEE ONLINE: BERKLEE COLLEGE OF MUSIC OFFERS DEGREES AND ACCREDITED PROGRAMS IN THE AREAS OF PRODUCTION, GUITAR, SONG WRITING, THEORY, HARMONY AND EAR TRAINING, AND THE MUSIC BUSINESS. CURRENTLY MORE THAN 4,000 STUDENTS PARTICIPATE IN ONLINE LEARNING. 4904894 208650 6049587 AUXILIARY SERVICES: THE COLLEGE HAS RESIDENCE HALL FACILITIES TO PROVIDE HOUSING FOR THOSE STUDENTS THAT CHOOSE TO LIVE AT THE COLLEGE. THE COLLEGE ALSO PROVIDES MEAL PLANS FOR BOTH STUDENTS IN HOUSING AND THOSE COMMUTER STUDENTS THAT CHOOSE THIS PLAN. 254526430 1 1 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 1 1 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 1 1 1 0 0 1 811 0 1 4372 1 1 1 1 SP 0 0 0 1 1 0 0 0 0 0 0 X 39 38 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 0 CA MA NY X X TAYLA BURKE 6177476762 1140 BOYLSTON STREET BOSTON MA 022153693 ROGER BROWN PRESIDENT 35.00 X X 427321 0 68458 JEFF SHAMES TRUSTEE 2.00 X 0 0 0 G LEONARD BAKER TRUSTEE 2.00 X 0 0 0 MICHAEL A BROWN TRUSTEE - END 03/21 2.00 X 0 0 0 DAVID CLEM TRUSTEE 2.00 X 0 0 0 JOHN CONNAUGHTON TRUSTEE 2.00 X 0 0 0 CYNTHIA CURME TRUSTEE 2.00 X 0 0 0 MICHAEL EISENSON VICE CO-CHAIR 2.00 X 0 0 0 EMILIO ESTEFAN TRUSTEE 2.00 X 0 0 0 GLORIA ESTEFAN TRUSTEE 2.00 X 0 0 0 FRANCESCA FREDERICK TRUSTEE 2.00 X 0 0 0 DAVID GROSS-LOH TRUSTEE 2.00 X 0 0 0 JOSH GRUSS TRUSTEE 2.00 X 0 0 0 THOMAS HAGERTY TRUSTEE 2.00 X 0 0 0 CHARLES HIRSCHORN TRUSTEE 2.00 X 0 0 0 STEVEN HOLTZMAN TRUSTEE 2.00 X 0 0 0 BILL KAISER TRUSTEE - END 03/21 2.00 X 0 0 0 BJ KRINTZMAN TRUSTEE 2.00 X 0 0 0 SARA LAWRENCE-LIGHTFOOT TRUSTEE 2.00 X 0 0 0 MIE KYUNG LEE TRUSTEE 2.00 X 0 0 0 MARTIN MANNION VICE CO-CHAIR 2.00 X 0 0 0 DEMOND MARTIN TRUSTEE - END 03/21 2.00 X 0 0 0 CARLA MARTINEZ DENICOLA TRUSTEE 2.00 X 0 0 0 JANE MENDILLO TRUSTEE 2.00 X 0 0 0 FREDERICK T MILLER TRUSTEE 2.00 X 0 0 0 PETER MULLER TRUSTEE - END 03/21 2.00 X 0 0 0 ROBERT MURLEY TRUSTEE 2.00 X 0 0 0 ANTHONY PANGARO TRUSTEE 2.00 X 0 0 0 JON PLATT TRUSTEE - BEGIN 08/20 2.00 X 0 0 0 SNOW QIN TRUSTEE 2.00 X 0 0 0 ALEX RIGOPOLOUS TRUSTEE 2.00 X 0 0 0 STEVE RUCHEFSKY TRUSTEE 2.00 X 0 0 0 DAVID SCOTT SLOAN TRUSTEE 2.00 X 0 0 0 DARIUS SIDEBOTHAM TRUSTEE 2.00 X 0 0 0 SUSAN SOLOMONT TRUSTEE 2.00 X 0 0 0 ELIZABETH CARRILLO THOMAS TRUSTEE 2.00 X 0 0 0 PAUL D WACHTER TRUSTEE - BEGIN 05/21 2.00 X 0 0 0 TARIK WARD TRUSTEE 2.00 X 0 0 0 SUSAN WHITEHEAD CHAIR OF THE BOARD 2.00 X 0 0 0 ANDY YOUNISS TRUSTEE 2.00 X 0 0 0 MARILLYN ZACHARIS TRUSTEE 2.00 X 0 0 0 BARRY ZUBROW TRUSTEE 2.00 X 0 0 0 HASSELL MCCLELLAN TRUSTEE 2.00 X 0 0 0 RICHARD HISEY SR VICE PRESIDENT/TREASURER 35.00 X 329588 0 48910 CATHLEEN YOUNG EXECUTIVE DIRECTOR 35.00 X 234275 0 30261 MELISSA HOWE SECRETARY/CLERK 35.00 X 181697 0 20708 DEBORAH CAVALIER SENIOR VICE PRESIDENT 35.00 X 311401 0 41103 LAWRENCE SIMPSON SR VICE PRESIDENT/PROVOST 35.00 X 310615 0 56018 PANOS PANAY SVP FOR GLOBAL STRATEGY 35.00 X 213302 0 49139 THOMAS RILEY VICE PRESIDENT 35.00 X 431544 0 57075 ELIZABETH NEWMAN SENIOR VICE PRESIDENT 35.00 X 295719 0 59765 DAVID GREGORY VICE PRESIDENT 35.00 X 313748 0 31732 CYNTHIA LINK SENIOR VICE PRESIDENT 35.00 X 290916 0 27687 MICHAEL KING VICE PRESIDENT 35.00 X 261871 0 54598 3601997 0 545454 353 0 1 0 YORKE CONSTRUCTION CORP 140 WEST 31ST STREET NEW YORK NY 10001 CONSTRUCTION 6060572 GOOGLE INC PO BOX 39000 SAN FRANCISCO CA 941390001 MARKETING 4144770 CLINICAL RESEARCH SEQUENCING LLC 415 MAIN STREET CAMBRIDGE MA 02142 COVID-19 TESTING 3900000 ARAMARK SERVICES INC 27310 NETWORK PLACE CHICAGO IL 606731273 FOOD SERVICES 3826519 ACME BUILDING SERVICES 599 NORTH AVENUE SUITE 6 WAKEFIELD MA 01880 CUSTODIAL SERVICES 2173937 91 1883031 12709152 20793818 121202 35386001 TUITION & FEES 611710 264251063 264251063 ROOM & BOARD 721310 6049587 6049587 GLOBAL INITIATIVES 611710 1386583 1386583 BERKLEE ONLINE 611710 1172636 1172636 PERFORMANCE CENTER 611710 87803 87803 272947672 469741 -114013 583754 2144295 1955446 188849 188849 83697 105152 13868857 12667694 1201163 1201163 1201163 0 1883031 99428 -99428 -99428 1856111 465001 1391110 1391110 PREMIUM AMORTIZATION 900099 1110074 1110074 BERKLEE PRESS 900099 379297 379297 BOOKSTORE INCOME 900099 200666 200666 321338 321338 2011375 313496483 274338782 -30316 3802016 82548499 82548499 1172881 340959 522232 309690 151939 151939 121664756 92705939 26282486 2676331 5764391 15980 5733896 14515 22230932 16785168 4961985 483779 9483197 7228809 2048028 206360 4645777 4645777 2494590 15753 2478837 604071 604071 193258 193258 7546839 2515096 5002345 29398 8038778 7407052 625153 6573 2251902 1503681 726761 21460 5094823 1073593 4014281 6949 2937858 2937858 8762537 7133658 1628873 6 76943 35174 41724 45 17500 11086 4739 1675 9377113 7533819 1725265 118029 15233870 12239726 2802390 191754 34669 34669 COST OF MEALS 2331877 2331770 107 0 EQUIPMENT REPAIR 1382044 1315387 66657 0 PUBLICATIONS & SUBSCRIP 899542 37627 832409 29506 BAD DEBT EXPENSE 725683 0 725683 0 5373981 4012080 1369171 -7270 321040250 254526430 62425020 4088800 0 0 117410553 101321137 9241996 8625129 811549 745688 0 0 0 0 1531109 1135742 0 0 0 0 490866832 206121951 288539605 284744881 327571106 446633115 0 0 0 0 0 0 12684223 46260568 757790141 889466260 123301332 122270919 0 0 26095400 29192756 256593919 251662883 0 0 0 0 0 0 0 0 3625164 3717928 409615815 406844486 X 235103936 324548735 113070390 158073039 348174326 482621774 757790141 889466260 X -7543767 113427201 28564014 X 0 1 X 1 1 1 X 18623012 21649617 26539077 26109290 35386001 128306997 18623012 21649617 26539077 26109290 35386001 128306997 3338371 124968626 2077982 2735526 4204963 3822043 2728049 15568563 373079 1223207 0 0 0 1596286 2868869 2051431 2042612 8718346 3867486 19548744 165020590 1486051642 0.75730 0.73110 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 327571106 20631458 114628362 2460186 13737627 446633113 356061885 5124631 -17363212 2534515 13717683 327571106 365075720 4802197 1008984 1899726 12925290 356061885 358716518 4786360 17585791 3165149 12847800 365075720 316410569 21034097 37221874 2078168 13871854 358716518 0.74400 0.15540 0.10060 0 0 52661439 52661439 184791896 51343905 133447991 31571819 13492315 18079504 62703316 47924765 14778551 159138362 93360966 65777396 284744881 OTHER ASSETS 24323977 RIGHT-OF-USE ASSETS 21936591 46260568 REFUNDABLE ADVANCES - US GOV 3717928 3717928 X 462209387 113427201 32719428 146146629 316062758 -2566275 -2566275 313496483 328813657 7773407 7773407 321040250 0 321040250 PART IV, LINE 1B: ESCROW AND CUSTODIAL ARRANGEMENTS BERKLEE COLLEGE OF MUSIC IS 100% OWNER OF BERKLEE VALENCIA. THE COLLEGE MAINTAINS THE BOOKS AND RECORDS FOR THE RELATED ENTITY. PART V, LINE 4: ENDOWMENT FUNDS ENDOWMENT ASSETS ARE INTENDED TO PROVIDE INCOME FOR CURRENT OPERATIONS AND OPERATIONS AND SCHOLARSHIPS WITHIN LEGAL SPENDING LIMITS. PERMANENT RESTRICTED ASSETS MUST BE HELD IN PERPETUITY. TEMPORARY RESTRICTED ASSETS ARE HELD FOR DONOR SPECIFIED TIME OR PURPOSE. PART X, LINE 2: LIABILITY FOR UNCERTAIN TAX POSITIONS UNDER FIN 48 (ASC 740) THE COLLEGE IS A TAX-EXEMPT ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE), AND IS GENERALLY EXEMPT FROM TAXES PURSUANT TO SECTION 501(A) OF THE CODE. ACCORDINGLY, IT IS GENERALLY NOT SUBJECT TO INCOME TAXES EXCEPT TO THE EXTENT IT HAS TAXABLE INCOME FROM ACTIVITIES THAT ARE NOT RELATED TO ITS EXEMPT PURPOSE. THE COLLEGE HAS GENERATED UNRELATED BUSINESS INCOME FOR THE YEAR ENDED MAY 31, 2021 BUT IT IS NOT SIGNIFICANT TO THE CONSOLIDATED FINANCIAL STATEMENTS. THE COLLEGE BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: PENSION OBLIGATION CHANGES 28,564,014. BERKLEE VALENCIA REVENUE 5,769,903. HEERF/CARES REVENUE -1,614,489. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASS OF RENTAL EXPENSES -1,955,446. BERKLEE LAPTOP PROGRAM COST OF GOODS SOLD -465,001. RECLASS OF FUNDRAISING EXPENSE -99,428. GILBERT GRANT -46,400. PART XII, LINE 2D - OTHER ADJUSTMENTS: BERKLEE VALENCIA EXPENSES 6,821,621. RECLASS OF RENTAL EXPENSES 1,955,446. BERKLEE LAPTOP PROGRAM COST OF GOODS SOLD 465,001. RECLASS OF FUNDRAISING EXPENSE 99,428. GILBERT GRANT 46,400. RECLASS OF HEERF/CARES ACT REVENUE -1,614,489. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE COLLEGE'S POLICY OF NONDISCRIMINATION IS PUBLISHED IN ALL COLLEGE CATALOGUES AND BROCHURES, ALL EMPLOYMENT ADVERTISEMENTS, AS WELL AS ON THE COLLEGE'S WEBSITE WWW.BERKLEE.EDU. SCHEDULE E, PART I, LINE 6 FINANCIAL AID OR ASSISTANCE THE COLLEGE RECEIVES FEDERAL AND STATE STUDENT FINANCIAL AID IN THE FORM OF GRANTS, LOANS, AND WORK STUDY. EUROPE (INCLUDING ICELAND AND GREENLAND) 1 PROGRAM SERVICES VALENCIA CAMPUS EUROPE (INCLUDING ICELAND AND GREENLAND) PROGRAM SERVICES STUDY ABROAD 227641 CENTRAL AMERICA AND THE CARIBBEAN INVESTMENTS 112177360 SOUTH ASIA PROGRAM SERVICES STUDY ABROAD 155853 EAST ASIA AND THE PACIFIC PROGRAM SERVICES STUDY ABROAD 151401 MIDDLE EAST AND NORTH AFRICA 1 2 PROGRAM SERVICES STUDY ABROAD 867517 CENTRAL AMERICA AND THE CARIBBEAN PROGRAM SERVICES BERKLEE ONLINE EUROPE (INCLUDING ICELAND AND GREENLAND) PROGRAM SERVICES BERKLEE ONLINE MIDDLE EAST AND NORTH AFRICA PROGRAM SERVICES BERKLEE ONLINE RUSSIA/INDEPENDENT STATES PROGRAM SERVICES BERKLEE ONLINE SOUTH AMERICA PROGRAM SERVICES BERKLEE ONLINE SOUTH ASIA PROGRAM SERVICES BERKLEE ONLINE SUB-SAHARAN AFRICA PROGRAM SERVICES BERKLEE ONLINE 2 2 0 0 2 2 113579772 0 113579772 1 0 1 1 1 1 PART III ACCOUNTING METHOD: PART I, LINE 3 THE ACTIVITY CONDUCTED IN SPAIN IS MANAGEMENT AND PROGRAM SERVICES, INCLUDING GRADUATE PROGRAMS, AND STUDY ABROAD FOR THE COLLEGE'S FIRST INTERNATIONAL CAMPUS. THE VALENCIA CAMPUS HAS 96 EMPLOYEES. GALA - BCM 1436194 1436194 54400 22777 SOIREE - BCB 446837 446837 22251 1883031 1883031 54400 45028 99428 -99428 SCHEDULE G, PART II, COLUMN B BOTH THE BCM - GALA AND THE BCB - SOIREE ARE REPORTED ON SCHEDULE G, PART II AS EXPENSES AND CONTRIBUTIONS WERE INCURRED RELATED TO THIS EVENT. HOWEVER, IN FY21 BOTH EVENTS WERE HELD VIRTUALLY DUE TO THE COVID-19 PANDEMIC. 1 INTERNAL SCHOLARSHIPS 5215 73543831 EXTERNAL SCHOLARSHIPS 319 6302197 COLLEGE WORK STUDY 135 255177 MASSACHUSETTS STATE SCHOLARSHIPS 25 46400 SEOG FINANCIAL AID AWARDS 579 786405 HIGHER EDUCATION EMERGENCY RELIEF FUNDING 1991 1614489 PART I, LINE 2: ORGANIZATION'S PROCEDURE FOR MONITORING THE USE OF GRANT FUNDS THE COLLEGE'S OFFICE OF FINANCIAL AID IS RESPONSIBLE FOR AWARDING AND MONITORING ALL FEDERAL AND STATE GRANT ASSISTANCE. STUDENTS APPLY FOR FINANCIAL AID BY COMPLETING A FAFSA FORM WHICH CAPTURES THE DATA REQUIRED DETERMINING ELIGIBILITY BASED ON FEDERAL AND/OR STATE REGULATIONS. DOCUMENTATION TO SUPPORT ELIGIBILITY IS KEPT FOR EACH INDIVIDUAL STUDENT ON FILE IN THE FINANCIAL AID OFFICE. WHEN FUNDS ARE AWARDED, STUDENT ELIGIBILITY IS MONITORED THROUGH THE COLLEGE'S OPERATIONAL SYSTEM AID MODULE TO ENSURE THERE ARE NO CHANGES IN STATUS THAT MIGHT AFFECT THEIR ONGOING ELIGIBILITY. TOTAL GRANT FUNDS AWARDED ARE TRACKED TO ENSURE COMPLIANCE WITH AUTHORIZED AMOUNTS FROM THE FUNDING AGENCY. THE COLLEGE ALSO IS REQUIRED TO SUBMIT AN ANNUAL INDEPENDENT A-133 AUDIT TO ENSURE COMPLIANCE WITH ALL FEDERAL REGULATIONS FOR GRANT ASSISTANCE. THE SCHOLARSHIP OFFICE IS RESPONSIBLE FOR AWARDING AND MONITORING ALL INSTITUTIONAL SCHOLARSHIP ASSISTANCE. CONTINUING STUDENTS APPLY FOR SCHOLARSHIP AID BY COMPLETING A SCHOLARSHIP APPLICATION FORM WHICH CAPTURES THE DATA REQUIRED TO DETERMINE ELIGIBILITY BASED ON INSTITUTIONAL GUIDELINES. ENTERING STUDENTS ARE AUTOMATICALLY CONSIDERED FOR SCHOLARSHIP BASED ON THE COLLEGE'S AUDITION AND INTERVIEW PROCESS. DOCUMENTATION TO SUPPORT ELIGIBILITY IS KEPT FOR EACH INDIVIDUAL STUDENT ON FILE IN THE SCHOLARSHIP OFFICE. WHEN FUNDS ARE AWARDED, STUDENT ELIGIBILITY IS MONITORED THROUGH THE COLLEGE'S OPERATIONAL SYSTEM SCHOLARSHIP MODULE TO ENSURE THERE ARE NO CHANGES IN STATUS THAT MIGHT AFFECT THEIR ONGOING ELIGIBILITY. TOTAL SCHOLARSHIP FUNDS AWARDED ARE TRACKED TO ENSURE COMPLIANCE WITH BUDGETED AMOUNTS. THE SCHOLARSHIP OFFICE REVIEWS ALL AWARDS EACH SEMESTER TO DETERMINE THAT THE STUDENT IS STILL ELIGIBLE FOR THE SCHOLARSHIP. HIGHER EDUCATION EMERGENCY RELIEF FUNDING (HEERF) PART III IN FISCAL YEAR 2020 THE COLLEGE WAS AWARDED $1,786,574 FROM THE HIGHER EDUCATION EMERGENCY RELIEF FUND (HEERF). THE FUNDS WERE USED FOR EMERGENCY FINANCIAL AID GRANTS TO STUDENTS UNDER THE 18004(A)(1) CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACTS (CARES ACT). THE COLLEGE DISBURSED $1,698,920 OF THE TOTAL RECEIVED TO THE STUDENTS TO ASSIST THE STUDENTS IN THEIR TRANSITION TO REMOTE LEARNING WITH THE REMAINING $87,654 TO BE UTILIZED IN FISCAL YEAR 2021 FOR APPEALS AND LATE FILERS. IN FISCAL YEAR 2021, THE COLLEGE UTILIZED THE INSTITUTIONAL PORTION OF THE CARES ACT, $1,786,574, TO SUPPORT STUDENT GRANTS FOR THE FALL SEMESTER. IN FISCAL YEAR 2021, THE COLLEGE WAS GRANTED A TOTAL OF $5,472,491 FROM THE CORONAVIRUS RESPONSE AND RELIEF SUPPLEMENTAL APPROPRIATIONS ACT (CRRSA ACT, HEERF II), THE COLLEGE RECOGNIZED STUDENT AND INSTITUTIONAL AID OF $5,212,752 IN FISCAL YEAR 2021 AND DEFERRED $259,739 TO BE USED IN FISCAL YEAR 2022. IN FISCAL YEAR 2021, THE COLLEGE WAS GRANTED A TOTAL OF $9,695,023 FROM THE AMERICAN RESCUE PLAN ACT (ARP ACT, HEERF III). THE COLLEGE RECOGNIZED STUDENT AND INSTITUTIONAL AID OF $3,221,512 IN FISCAL YEAR 2021 AND DEFERRED $6,473,522 TO BE USED IN FISCAL YEAR 2022. X 1 1 X X X X X X 0 0 0 1 0 0 0 1 0 ROGER BROWN PRESIDENT 394301 0 0 0 33020 0 25650 0 42808 0 495779 0 0 0 THOMAS RILEY VICE PRESIDENT 279074 0 0 0 152470 0 25059 0 32016 0 488619 0 0 0 RICHARD HISEY SR VICE PRESIDENT/TREASURER 309088 0 0 0 20500 0 25650 0 23260 0 378498 0 0 0 LAWRENCE SIMPSON SR VICE PRESIDENT/PROVOST 291115 0 0 0 19500 0 25650 0 30368 0 366633 0 0 0 ELIZABETH NEWMAN SENIOR VICE PRESIDENT 295719 0 0 0 0 0 25650 0 34115 0 355484 0 0 0 DEBORAH CAVALIER SENIOR VICE PRESIDENT 239439 0 44422 0 27540 0 24543 0 16560 0 352504 0 0 0 DAVID GREGORY VICE PRESIDENT 293248 0 0 0 20500 0 25650 0 6082 0 345480 0 0 0 CYNTHIA LINK SENIOR VICE PRESIDENT 270416 0 0 0 20500 0 25610 0 2077 0 318603 0 0 0 MICHAEL KING VICE PRESIDENT 216664 0 39092 0 6115 0 22238 0 32360 0 316469 0 0 0 CATHLEEN YOUNG EXECUTIVE DIRECTOR 233285 0 0 0 990 0 20909 0 9352 0 264536 0 0 0 PANOS PANAY SVP FOR GLOBAL STRATEGY 211968 0 0 0 1334 0 13739 0 35400 0 262441 0 0 0 MELISSA HOWE SECRETARY/CLERK 157057 0 0 0 24640 0 16272 0 4436 0 202405 0 0 0 PART I, LINE 1A BENEFITS HEALTH CLUB DUES ARE REIMBURSED TO MEMBERS OF THE PRESIDENT'S COUNCIL UNDER AN EXECUTIVE WELLNESS REIMBURSEMENT PROGRAM. THIS INCLUDES THE SENIOR VICE PRESIDENTS AND VICE PRESIDENTS REPORTED IN FORM 990 PART VII. THE AMOUNTS ARE INCLUDED AS TAXABLE COMPENSATION IN EACH INDIVIDUAL'S FORM W-2. PART I, LINE 5 CONTINGENT PAYMENTS DEBORAH CAVALIER IS ELIGIBLE TO RECEIVE A PERCENTAGE OF AVAILABLE BONUS DOLLARS ANNUALLY. THE BONUS OF $44,422 REPORTED IN COLUMN B(II) IS EQUAL TO 10% OF THE DIVISION OPERATING MARGIN MINUS APPLICABLE RENT EXPENSES. PART I, LINE 7 NON-FIXED PAYMENTS PERFORMANCE BONUS AMOUNTS ARE REWARDED AT THE DISCRETION OF THE PRESIDENT AND REVIEWED AND ENDORSED BY THE EXECUTIVE COMMITTEE OF THE BOARD. THE BONUSES ARE COMPARED AGAINST MARKET DATA. A MDFA REVENUE BONDS SERIES 2011 043431814 57583UJE9 2011-09-22 95437831 PURCHASE LAND, BUILDING, EQUIPMENT 0 0 0 B MDFA REVENUE BONDS SERIES 2016 043431814 57584XUU3 2016-08-01 182938090 REFUND SERIES 2007A/2013 BOCO DEBT 0 0 0 A 93712831 97850759 678781 97171978 2014 0 0 1 1 B 11208572 182938090 234313 1009048 27018542 154676187 2016 1 1 1 1 A 0 0 1 1 0 0.00380 0.00380 0 0 1 B 0 1 1 1 0 0.00910 0.00910 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 A 1 B 1 PART II, LINE 3 PROCEEDS OF BOND ISSUE THE DIFFERENCE BETWEEN THE ISSUE PRICE AND TOTAL PROCEEDS FOR BOND ISSUE A IS INVESTMENT EARNINGS OF $2,412,928. PART IV, LINE 2C REBATE COMPUTATION DATE NO REBATE IS DUE ON THE BOND ISSUES. THE COMPUTATION DATES WERE AS FOLLOWS: BOND ISSUE A: 05/31/2018 BOND ISSUE B: 05/31/2018 PART V PROCEDURES TO TAKE CORRECTIVE ACTION THE COLLEGE MONITORS THEIR TAX EXEMPT BONDS TO ENSURE THAT VIOLATIONS OF FEDERAL TAX REQUIREMENTS ARE TIMELY IDENTIFIED AND CORRECTED THROUGH THE VOLUNTARY CLOSING AGREEMENT PROGRAM IF SELF-REMEDIATION IS NOT AVAILABLE. BRUNO RABERG SPOUSE - M. HOWE, OFFICER 151939 EMPLOYMENT - FAMILY MEMBER 0 SOUND DOG VENTURES LLC TRUSTEE - PETER MULLER 1067046 LEASE PAYMENTS 0 X MUSICAL EQUIPMENT 4 121202 FMV 0 1 0 PART I, COLUMN (B) CONTRIBUTIONS THE ORGANIZATION IS REPORTING THE NUMBER OF ITEMS RECEIVED. FORM 990, PART VI, SECTION A, LINE 2 FAMILY RELATIONSHIPS EMILIO ESTEFAN AND GLORIA ESTEFAN HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS THE FORM 990 IS PREPARED AND REVIEWED BY THE CONTROLLER'S DEPARTMENT AND REVIEWED BY THE COLLEGE'S TAX ADVISORS. UPON COMPLETION, THE DRAFT FORM 990 IS DISTRIBUTED TO THE MEMBERS OF THE AUDIT & RISK COMMITTEE FOR THEIR REVIEW AND COMMENTS. ONCE THE DRAFT HAS BEEN REVIEWED BY THE COMMITTEE, THE FINAL FORM 990 IS DISTRIBUTED TO THE FULL BOARD PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY THE PURPOSE OF THE CONFLICTS OF INTEREST POLICY IS TO PROTECT THE COLLEGE'S INTEREST WHEN IT IS ENTERING INTO A TRANSACTION OR ARRANGEMENT THAT MIGHT BENEFIT THE PRIVATE INTEREST OF AN INTERESTED PERSON. AN INTERESTED PERSON IS DEFINED AS ANY PERSON WHO IS OR WAS DURING THE PREVIOUS FIVE YEARS IN A POSITION TO EXERCISE SUBSTANTIAL INFLUENCE OVER THE COLLEGE'S AFFAIRS, INCLUDING ANY TRUSTEE, OFFICER, KEY EMPLOYEE OR MEMBER OF A COMMITTEE WITH BOARD-DELEGATED POWERS (EACH A FIDUCIARY). IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, A FIDUCIARY WILL DISCLOSE ALL MATERIAL FACTS TO THE PRESIDENT OR CHAIR AT THE EARLIEST POSSIBLE TIME AFTER THE CONFLICT OF INTEREST BECOMES KNOWN TO THE FIDUCIARY. ANY CONFLICT WILL BE MADE A MATTER OF RECORD THROUGH ANNUAL OR OTHER REPORTING AND CERTIFICATION PROCEDURE AS THE TRUSTEES REQUIRE FROM TIME TO TIME. AFTER DISCLOSURE OF THE CONFLICT OF INTEREST AND AFTER ANY DISCUSSION WITH THE RELEVANT FIDUCIARY, THE TRUSTEES SHALL FINALLY DETERMINE WHETHER ANY CONFLICT OF INTEREST EXISTS. IF A CONFLICT OF INTEREST IS DETERMINED TO EXIST, THE TRUSTEES MAY TAKE ACTIONS AS DEFINED IN THE BYLAWS OF THE COLLEGE. IF A CONFLICT IS DETERMINED TO EXIST, THOSE WITH A CONFLICT OF INTEREST SHALL LEAVE THE MEETING DURING DISCUSSION OF ANY PROPOSED RELATIONSHIP IN WHICH THEY HAVE AN INTEREST. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION POLICY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES, SITTING AS THE COMPENSATION COMMITTEE, HAS THE AUTHORITY TO ESTABLISH FAIR AND APPROPRIATE COMPENSATION PACKAGES TO BE AWARDED TO THE PRESIDENT AND OTHER HIGHLY COMPENSATED ADMINISTRATORS OF THE COLLEGE. IN DETERMINING THE EXECUTIVE COMPENSATION PACKAGES, THE EXECUTIVE COMMITTEE CONSIDERS COMPARATIVE DATA, OBTAINED FROM PUBLISHED SOURCES OR A COMPENSATION CONSULTANT, REFLECTING THE COMPENSATION LEVELS AWARDED TO EQUIVALENTLY SITUATED INDIVIDUALS EMPLOYED BY COMPARABLE INSTITUTIONS. THE EXECUTIVE COMMITTEE REPORTS THE PROCESS AND AWARDING OF COMPENSATION PACKAGES TO THE BOARD OF TRUSTEES. WHEN THE COMPENSATION COMMITTEE IS MEETING, THE PRESIDENT DOES NOT PARTICIPATE. THE PROCESS FOR DETERMINING THE COMPENSATION OF BERKLEE COLLEGE OF MUSIC'S TOP MANAGEMENT OFFICIALS, INCLUDING THE PRESIDENT AND OTHER HIGHLY COMPENSATED ADMINISTRATORS OF THE COLLEGE, MEETS THE THREE REQUIREMENTS OF THE REBUTTABLE PRESUMPTION PROVISIONS UNDER TREAS. REG. 53.4958-6. FORM 990, PART VI, LINE 16B BERKLEE COLLEGE OF MUSIC REVIEWS ITS PARTICIPATION IN JOINT VENTURE ARRANGEMENTS TO SAFEGUARD AND PROTECT ITS EXEMPT STATUS AND RETAINS LEGAL AND TAX ADVISORS AS NECESSARY. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC DISCLOSURES THE COLLEGE MAKES THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON WRITTEN REQUEST. THE COLLEGE'S FORM 990 IS ALSO AVAILABLE ONLINE AT WWW.GUIDESTAR.ORG AND ON THE MASSACHUSETTS ATTORNEY GENERAL WEBSITE. FORM 990, PART XI, LINE 9: PENSION OBLIGATION CHANGES OTHER THAN NET PERIODIC COSTS 28,564,014. BERKLEE VALENCIA SL AVENIDA PROFESOR LOPEZ PINERO 1 VALENCIA SP 46013 999999999 EDUCATION SP N/A N/A BERKLEE US 1 THE BOSTON CONSERVATORY REALTY CORP 8 THE FENWAY BOSTON MA 02215 263644206 REAL ESTATE MA 501(C)(3) LINE 12A, I BERKLEE US 1 THE BOSTON CONSERVATORY IPSWICH REALTY 8 THE FENWAY BOSTON MA 02215 454795446 REAL ESTATE MA 501(C)(3) LINE 12A, I BERKLEE US 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 BERKLEE VALENCIA SL D 1037634 SEE PART VII BERKLEE VALENCIA SL R 6687385 SEE PART VII PART V, LINE 2 THE METHOD FOR DETERMINING THE AMOUNT INVOLVED WAS COST OR CURRENCY CONVERSION.