2022-05-12T12:46:46-05:00 2021-06-30 366055558 GRANT THORNTON LLP 757 THIRD AVENUE 3RD FLOOR NEW YORK NY 100172013 990 2020-07-01 131624067 JUILLIARD SCHOOL JUIL 2127995000 60 LINCOLN CENTER PLAZA NEW YORK NY 10023 CATHY NADEAU CFO 2127995000 2022-05-16 1 CATHY NADEAU XXX-XX-XXXX DANIEL ROMANO P00504182 2125990100 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z DAMIAN WOETZEL 60 LINCOLN CENTER PLAZA NEW YORK NY 10023 770570768 0 X WWW.JUILLIARD.EDU X 1934 NY PROVIDE THE HIGHEST CALIBER OF ARTISTIC EDUCATION (SEE SCHEDULE O)FOR GIFTED MUSICIANS, DANCERS, AND ACTORS FROM AROUND THE WORLD. 31 30 2337 44 -2725791 0 38377052 48891519 65805497 62465086 35930574 70069468 458162 152027 140571285 181578100 29745129 31221322 0 0 66937265 67164907 0 0 4803380 47559347 55387325 144241741 153773554 -3670456 27804546 1273604876 1626062472 283872799 280327172 989732077 1345735300 X THE MISSION OF THE JUILLIARD SCHOOL IS TO PROVIDE THE HIGHEST CALIBER OF ARTISTIC EDUCATION FOR GIFTED MUSICIANS, DANCERS, AND ACTORS FROM AROUND THE WORLD SO THAT THEY MAY ACHIEVE THEIR FULLEST POTENTIAL AS ARTISTS, LEADERS, AND GLOBAL CITIZENS. 0 0 68150637 0 47899579 JUILLIARD'S PRIMARY PROGRAM SERVICE ACCOMPLISHMENT IS PROVIDING INSTRUCTION IN MUSIC, DANCE, AND DRAMA TO APPROXIMATELY 1,200 STUDENTS IN ITS COLLEGE AND PRE-COLLEGE PROGRAMS. THE EXPENSES ASSOCIATED WITH PROVIDED INSTRUCTION INCLUDE COMPENSATION (SALARIES AND EMPLOYMENT BENEFITS) RELATING TO THE EDUCATIONAL FUNCTION OF THE SCHOOL, OCCUPANCY COSTS ALLOCABLE TO INSTRUCTION, TEACHING MATERIALS AND SERVICES, AND INSTRUMENT MAINTENANCE AND REPAIR. 30876872 30876872 0 PROVIDING FINANCIAL ASSISTANCE TO STUDENTS IS A HIGH PRIORITY OF THE SCHOOL, SO THAT FINANCIAL CIRCUMSTANCES WILL NOT BE A BARRIER TO ENTRY FOR ITS TALENTED MUSICIANS, ACTORS, AND DANCERS. STUDENT ASSISTANCE INCLUDES SCHOLARSHIPS, FELLOWSHIPS, PRIZES, CERTAIN GRANTS, AND FEDERAL AID GRANTS RECEIVED AND DISTRIBUTED TO ELIGIBLE STUDENTS. APPROXIMATELY 86% OF THE COLLEGE POPULATION OF THE SCHOOL (899 STUDENTS IN TOTAL) RECEIVED STUDENT ASSISTANCE DURING 2020-2021. 6619413 344450 3225080 DURING 2020-2021 THE SCHOOL SUPPORTED ITS MISSION OF HIGHER EDUCATION THROUGH PROGRAM SERVICES INDIRECTLY RELATED TO THE EDUCATION OF TALENTED MUSICIANS, ACTORS AND DANCERS. SUCH INDIRECT PROGRAM SERVICES INCLUDE SUPPORT OF STUDENT ACTIVITIES AND PROGRAMMING, AUXILIARY SERVICES SUCH AS THE JUILLIARD STORE AND THE STUDENT RESIDENCE HALL, AND EMPLOYEE BENEFIT COSTS. 3977353 0 11528874 INTERNATIONAL EDUCATION 3039072 0 17928 STUDENT PERFORMING ARTS PRODUCTION 7016425 0 11546802 112663347 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 0 1 1 0 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 1 441 0 1 2337 1 1 1 1 CH 0 0 0 0 0 0 0 0 0 1 X 31 30 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA NY X MICHAEL KERSTAN 2127995000 60 LINCOLN CENTER PLAZA NEW YORK NY 10023 DAMIAN WOETZEL PRESIDENT 50.00 0.00 X X 843051 0 135444 BRUCE KOVNER CHAIRMAN 3.00 0.00 X X 0 0 0 J CHRISTOPHER KOJIMA VICE CHAIRMAN 2.00 0.00 X X 0 0 0 KATHERYN PATTERSON VICE CHAIRMAN (THRU 06/2021) 2.00 0.00 X X 0 0 0 JOSHUA BLACK TRUSTEE 1.00 0.00 X 0 0 0 JULIE CHOI TRUSTEE 1.00 0.00 X 0 0 0 KENT CLARK TRUSTEE 1.00 0.00 X 0 0 0 BARBARA FLEISCHMAN TRUSTEE 1.00 0.00 X 0 0 0 MARY GRAHAM TRUSTEE 1.00 0.00 X 0 0 0 JOAN HARRIS TRUSTEE 1.00 0.00 X 0 0 0 MATTHEW JACOBSON TRUSTEE 1.00 0.00 X 0 0 0 EDWARD JOHNSON JR TRUSTEE 1.00 0.00 X 0 0 0 PHILIPPE KHUONG-HUU TRUSTEE 1.00 0.00 X 0 0 0 NANCY WALTON LAURIE TRUSTEE (THRU 06/2021) 1.00 0.00 X 0 0 0 REGGIE VAN LEE TRUSTEE 1.00 0.00 X 0 0 0 KAREN LEVY TRUSTEE 1.00 0.00 X 0 0 0 TERESA LINDSAY TRUSTEE 1.00 0.00 X 0 0 0 LAURA LINNEY TRUSTEE 1.00 0.00 X 0 0 0 MICHAEL LOEB TRUSTEE (THRU 05/2021) 1.00 0.00 X 0 0 0 VINCENT MAI TRUSTEE 1.00 0.00 X 0 0 0 ELLEN MARCUS TRUSTEE 1.00 0.00 X 0 0 0 GREG MARGOLIES TRUSTEE 1.00 0.00 X 0 0 0 STEPHANIE P MCCLELLAND TRUSTEE 1.00 0.00 X 0 0 0 CHRISTINA MCINERNEY TRUSTEE 1.00 0.00 X 0 0 0 LESTER MORSE JR TRUSTEE 1.00 0.00 X 0 0 0 REBECCA MORSE TRUSTEE (AS OF 04/2021) 1.00 0.00 X 0 0 0 STEPHEN NOVICK TRUSTEE 1.00 0.00 X 0 0 0 SUSAN ROSE TRUSTEE 1.00 0.00 X 0 0 0 JEFFREY SELLER TRUSTEE 1.00 0.00 X 0 0 0 DEBORAH SIMON TRUSTEE 1.00 0.00 X 0 0 0 SARAH B SOLOMON TRUSTEE 1.00 0.00 X 0 0 0 WILLIAM STRICKER TRUSTEE 1.00 0.00 X 0 0 0 YAEL TAQQU TRUSTEE 1.00 0.00 X 0 0 0 CAMILLE ZAMORA TRUSTEE 1.00 0.00 X 0 0 0 LESLEY ROSENTHAL CHIEF OPERATING OFFICER 50.00 0.00 X 505003 0 59513 MAURICE EDELSON VP ADMIN & GENERAL COUNSEL 50.00 0.00 X 435889 0 69805 ALEXANDRA WHEELER VP & CHIEF ADVANCEMENT OFFICER 50.00 0.00 X 423506 0 67316 JOSEPH W POLISI CHIEF CHINA OFFICER 50.00 0.00 X 329601 0 58517 CHRISTINE TODD VP & CHIEF FINANCIAL OFFICER 50.00 0.00 X 340749 0 43279 ARA GUZELIMIAN INTERIM DEAN & DR OF MUSIC DIVISON 50.00 0.00 X 313175 0 69963 ADAM MEYER PROVOST & DEAN 50.00 0.00 X 245535 0 49947 JOAN WARREN VP FOR ENROLLMENT & STUDENT DEVELOP. 50.00 0.00 X 250361 0 40005 CARL YOUNG CHIEF INFORMATION OFFICER 50.00 0.00 X 324553 0 42772 LI LIN FACULTY 50.00 0.00 X 274347 0 63707 YOHEVED KAPLINSKY ARTISTIC DIRECTOR & FACULTY 50.00 0.00 X 273129 0 35028 STEVEN LAITZ FACULTY 50.00 0.00 X 266727 0 40868 EVAN D YIONOULIS DEAN & DIRECTOR, DRAMA 50.00 0.00 X 276842 0 24541 5102468 0 800705 133 0 1 0 INVESTURE LLC 126 GARRETT STREET SUITE J CHARLOTTESVILLE VA 22902 INVESTMENT MANAGEMENT 3205891 HURON CONSULTING GROUP INC PO BOX 71223 CHICAGO IL 60694 CONSULTING 3092948 AVLX LLC 422 MORRIS AVENUE SUMMIT NJ 07901 VIDEO/AUDIO FOR LIVE STREAM 1919485 HOLZMAN MOSS BOTTINO 90 BROAD STREET SUITE 1803 NEW YORK NY 10004 ARCHITECT 340399 FFW LLC 101 CRAWFORDS CORNER RD SUITE 4-33 HOLMDEL NJ 07733 WEB DESIGN 297514 18 1850710 1557702 45483107 2083776 48891519 TUITION & FEES 611310 47846005 47846005 INT'L PROGRAM DEV & OPERATIONS 900099 11528874 11528874 RESIDENCE HALL 721310 3017199 3017199 USER FEES, EDUCATION PROGRAM 611710 71502 71502 STUDENT LOAN INCOME 900099 1506 1506 62465086 1260129 -2725791 3985920 657286660 588477321 68809339 68809339 68809339 0 1850710 100156 -100156 -100156 621566 415191 206375 206375 VENDING MACHINE 900099 5306 5306 40502 40502 45808 181578100 62671461 -2725791 72740911 31221322 31221322 4129436 1065729 2353604 710103 49541876 39294675 7704600 2542601 3234834 2565223 504634 164977 6387582 5065352 996463 325767 3871179 2911127 723910 236142 1106659 308223 790935 7501 181598 181598 7564735 7564735 2253026 358167 1591559 303300 958718 739172 43909 175637 1196205 900143 274915 21147 2146278 2146278 7787866 7215514 490155 82197 187178 183521 3371 286 13741 11935 164 1642 8358383 7522545 752254 83584 10191918 9116949 988137 86832 2166276 2166276 EXCISE TAX ON INVEST. 5603284 5603284 AUXILIARY SERVICES 1472295 1472295 PERFORMANCE PRODUCTION 938007 938007 INSTRUMENT PURCH & MAIN 703137 703137 2558021 1070311 1426046 61664 153773554 112663347 36306827 4803380 7364264 16753997 0 0 21211966 25255476 15333968 14052038 0 0 0 0 485382 412123 1118292 1157899 5764064 9866031 297944311 156565843 141372523 141378468 127746714 153710052 948283147 1253880053 4924556 9596335 1273604876 1626062472 11990030 24501133 0 0 1283380 1246948 193939759 193693715 0 0 0 0 0 0 0 0 76659630 60885376 283872799 280327172 X 143212428 255177630 846519649 1090557670 989732077 1345735300 1273604876 1626062472 X 27804546 307619177 20579500 X 0 1 X 1 1 1 X 28809594 38270781 28153160 38377052 48891519 182502106 28809594 38270781 28153160 38377052 48891519 182502106 51630295 130871811 505848 1415470 2238440 2195536 1260129 7615423 2049306 3355149 2306131 1497194 667374 9875154 199992683 320569392 0.65440 0.66600 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GROSS INCOME FROM FUNDRAISING - 2016 AMOUNT: $ 0. 2017 AMOUNT: $ 0. 2018 AMOUNT: $ 173,000. 2019 AMOUNT: $ 61,250. 2020 AMOUNT: $ 0. GROSS SALES OF INVENTORY - 2016 AMOUNT: $ 2,028,988. 2017 AMOUNT: $ 2,048,438. 2018 AMOUNT: $ 1,934,837. 2019 AMOUNT: $ 1,315,506. 2020 AMOUNT: $ 621,566. VENDING MACHINE - 2016 AMOUNT: $ 20,318. 2017 AMOUNT: $ 18,090. 2018 AMOUNT: $ 17,502. 2019 AMOUNT: $ 10,701. 2020 AMOUNT: $ 5,306. SETTLEMENT AGREEMENT PROCEEDS - 2016 AMOUNT: $ 0. 2017 AMOUNT: $ 1,241,586. 2018 AMOUNT: $ 0. 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 0. MISCELLANEOUS REVENUE - 2016 AMOUNT: $ 0. 2017 AMOUNT: $ 47,035. 2018 AMOUNT: $ 180,792. 2019 AMOUNT: $ 109,737. 2020 AMOUNT: $ 40,502. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 0 PART II-B, LINE 1: THE JUILLIARD SCHOOL DOES NOT GENERALLY ENGAGE IN DIRECT LOBBYING. HOWEVER, AS AN EDUCATIONAL INSTITUTION, THE SCHOOL IS A MEMBER OF VARIOUS INDUSTRY ASSOCIATIONS THAT MAY LOBBY ON BEHALF OF THE INDUSTRY. WHILE THE JUILLIARD SCHOOL PAYS MEMBERSHIP DUES TO THESE ORGANIZATIONS, THE SCHOOL IS UNABLE TO DETERMINE THE MINIMAL AMOUNT THAT MAY BE ALLOCATED FOR THAT PURPOSE. X X X 0 1052919649 5046730 369536022 19679585 39148492 1368674324 1092632637 3717439 12227898 18674249 36984076 1052919649 1095547708 11841106 39328571 18564103 35520645 1092632637 1035383858 22221804 89804040 17146361 34715633 1095547708 922956446 25794167 137320774 15617448 35070081 1035383858 0.25700 0.74300 0.00000 0 0 2421438 2421438 33308239 30319474 2988765 214719265 101046175 113673090 36364053 25200194 11163859 11131316 11131316 141378468 PRIVATE EQUITY 410196081 F MULTI-STRATEGY 373960950 F GLOBAL EQUITY 353664560 F EMERGING MARKETS 106628009 F CREDIT 7291308 F OTHER INVESTMENTS 2139145 F 1253880053 FAIR VALUE OF DERIVATIVE INSTRUMENTS 54016609 OPERATING LEASE LIABILITIES 3527393 LIABILITIES TO ANNUITANTS 3024988 FEDERAL LOAN CAPITAL ADVANCES 316386 60885376 X 470080198 307619177 20579500 328198677 141881521 7564735 32131844 39696579 181578100 114076975 0 114076975 7564735 32131844 39696579 153773554 PART III, LINE 1A: COLLECTIONS OF ART, HISTORICAL TREASURERS THE SCHOOL'S COLLECTIONS COMPRISE RARE INSTRUMENTS AND MUSIC MANUSCRIPTS THAT ARE HELD FOR EDUCATIONAL AND CURATORIAL PURPOSES. EACH OF THE ITEMS IS CATALOGUED, PRESERVED AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. THE COLLECTIONS GENERALLY ARE SUBJECT TO A POLICY THAT REQUIRES PROCEEDS FROM THEIR SALES TO BE USED TO ACQUIRE OTHER ITEMS FOR COLLECTIONS. THE COLLECTIONS, WHICH WERE ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE SCHOOL'S INCEPTION, ARE NOT RECOGNIZED AS ASSETS IN THE BALANCE SHEETS. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN NET ASSETS WITHOUT DONOR RESTRICTIONS IN THE PERIOD IN WHICH THE ITEMS ARE ACQUIRED, OR AS DECREASES IN NET ASSETS WITH DONOR RESTRICTIONS IF THE ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS. CONTRIBUTED COLLECTION ITEMS ARE NOT REFLECTED IN THE FINANCIAL STATEMENTS. PROCEEDS FROM DEACCESIONS OR INSURANCE RECOVERIES ARE REFLECTED AS INCREASES IN THE APPROPRIATE NET ASSET CLASSES. THE VALUE OF THE SCHOOL'S COLLECTIONS IS PERIODICALLY ESTIMATED FOR INSURANCE PURPOSES. PART III, LINE 4: DESCRIPTION OF ORGANIZATION'S COLLECTION THE SCHOOL'S COLLECTIONS INCLUDE RARE MUSICAL INSTRUMENTS AND HISTORIC MUSIC MANUSCRIPTS. ACCESS TO THESE COLLECTIONS PROVIDES EXCEPTIONAL EDUCATIONAL OPPORTUNITIES TO THE STUDENTS ATTENDING THE SCHOOL AS THEY PREPARE FOR PROFESSIONAL CAREERS IN THE PERFORMING ARTS. ADDITIONALLY, THE COLLECTIONS ARE HELD FOR CURATORIAL PURPOSES, AS THEIR PRESERVATION AND ONGOING CARE IS ESSENTIAL TO ENSURING ACCESS TO THEM BY FUTURE GENERATIONS OF STUDENTS AND SCHOLARS. ON OCCASION IN CONNECTION WITH A RELEVANT PERFORMANCE, LECTURE, OR PRESENTATION, THE VIEWING AREA FOR THE COLLECTION ITEMS IS OPENED SO VISITORS TO THE SCHOOL MAY VIEW THE ITEMS. PART V, LINE 4: INTENDED USES OF ENDOWMENT FUNDS THE SCHOOL'S ENDOWMENT CONSISTS OF APPROXIMATELY 650 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING SCHOLARSHIPS AND STUDENT AID, EDUCATIONAL PROGRAMS, AND OTHER PURPOSES IN SUPPORT OF THE SCHOOL'S MISSION. PART IX, RIGHT-OF-USE ASSETS THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") IMPLEMENTED A NEW LEASE ACCOUNTING STANDARD THAT BECAME EFFECTIVE FOR JUILLIARD SCHOOL IN THE YEAR ENDING JUNE 30, 2021. THIS ACCOUNTING STANDARD WAS EFFECTUATED TO IMPROVE THE TRANSPARENCY SURROUNDING KEY INFORMATION PERTAINING TO AN EXEMPT ORGANIZATION'S LEASING ARRANGEMENTS (AND TO ENSURE THAT ALL ORGANIZATIONS WERE RECORDING THE TRANSACTIONS UNIFORMLY ON THEIR BALANCE SHEETS). PART X, LINE 2: INCOME TAXES THE SCHOOL RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE TAX POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. INCOME GENERATED FROM ACTIVITIES UNRELATED TO THE SCHOOL'S EXEMPT PURPOSE IS SUBJECT TO TAX UNDER INTERNAL REVENUE CODE SECTION 511. THE SCHOOL DID NOT RECOGNIZE ANY UNRELATED BUSINESS INCOME TAX LIABILITY FOR THE YEARS ENDED JUNE 30, 2021 AND 2020. SECTION 4968 OF THE ACT IMPOSES A TAX ON APPLICABLE EDUCATIONAL INSTITUTIONS EQUIVALENT TO 1.4% OF THE INSTITUTION'S NET INVESTMENT INCOME FOR THE YEAR. THE SCHOOL DETERMINED THAT IT MEETS THE DEFINITION OF AN APPLICABLE EDUCATIONAL INSTITUTION AND RECORDED APPROXIMATELY $5,603,000 AND $321,000 OF TAX EXPENSE FOR THE YEARS ENDED JUNE 30, 2021 AND 2020, RESPECTIVELY, BASED ON REASONABLE ESTIMATES UNDER THE REGULATORY GUIDANCE; APPROXIMATELY $10,000 OF WHICH IS ESTIMATED TO REPRESENT THE CURRENT PORTION OF THE TAX LIABILITY FOR THE YEAR ENDED JUNE 30, 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 1,505,931. CHANGE IN FAIR VALUE OF DERIVATIVE INSTRUMENTS 19,073,569. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID GRANTS 26,943,751. JUILLIARD STORE COST OF SALES -415,191. ACCRUED ESTIMATED EXCISE TAX ON INVESTMENTS 5,603,284. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID GRANTS 26,943,751. JUILLIARD STORE COST OF SALES -415,191. ACCRUED ESTIMATED EXCISE TAX ON INVESTMENTS 5,603,284. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 UNDER REV PROC 75-50, 4.03(2)(B), THE SCHOOL WOULD SEEM TO BE EXEMPT IN THAT IT "CUSTOMARILY DRAWS A SUBSTANTIAL PERCENTAGE OF ITS STUDENTS NATIONWIDE OR WORLDWIDE FROM A LARGE GEOGRAPHIC SECTION OF THE U.S. AND FOLLOWS A RACIALLY NON-DISCRIMINATORY POLICY." THE SCHOOL'S POLICY OF NON DISCRIMINATION FOR ADMISSIONS AND FINANCIAL AID AWARDS IS CLEARLY STATED IN ADMISSIONS MATERIALS SENT TO ALL PROSPECTIVE STUDENTS. SCHEDULE E, PART I, LINE 6 THE SCHOOL REGULARLY PARTICIPATES IN THE FOLLOWING FEDERAL PROGRAMS: FWS, PELL GRANT, SEOG, FEDERAL DIRECT STUDENT LOANS, AND PERKINS LOANS. AT THE STATE LEVEL, IT HAS BEEN THE RECIPIENT OF NEW YORK AID TO NON-PUBLIC COLLEGES ("BUNDY FUNDS") AND LIBRARY GRANTS. DURING 2020-2021, THE SCHOOL ALSO RECEIVED FUNDS FROM THE HEERF ACT. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES MEETINGS/PERFORMANCES -7121 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES MEETINGS/PERFORMANCES 268396 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 403954145 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 784039 NORTH AMERICA 0 0 INVESTMENTS 138466 0 0 0 0 0 0 405137925 0 405137925 1 0 1 1 1 0 PART III ACCOUNTING METHOD: PART I TOTAL PROGRAM SERVICE EXPENDITURES GENERATED IN EUROPE HAD A CREDIT BALANCE DUE TO CREDIT CARD REFUNDS FOR CANCELLED TRAVEL DUE TO COVID. THE CREDITS WERE FOR FY2020 CANCELLED TRAVEL EXPENSES AND WERE NOT RECEIVED UNTIL THE 4TH QUARTER OF FY2021. PART IV THE JUILLIARD SCHOOL INVESTS IN DOMESTIC AND FOREIGN LIMITED PARTNERSHIPS THAT MAY OWN AN INTEREST IN A FOREIGN CORPORATION, PASSIVE FOREIGN INVESTMENT COMPANY, OR FOREIGN PARTNERSHIP. NEVERTHELESS, JUILLIARD'S INVESTMENT ACTIVITIES MAY NOT REACH THE THRESHOLDS REQUIRED FOR FILING THE FORMS 926, 5471, 8621, OR 8865. TO THE EXTENT SUCH A FORM WAS REQUIRED, IT HAS BEEN FILED WITH THE ORGANIZATION'S FORM 990-T. FALL GALA 1850710 1850710 62694 14179 23283 1850710 1850710 62694 14179 23283 100156 -100156 PART II, COLUMN A: THE FALL 2020 GALA WAS A VIRTUAL EVENT. SCHEDULE G REPORTING, THOUGH NOT REQUIRED, IS PROVIDED FOR TRANSPARENCY. 1 STUDENT SCHOLARSHIPS 919 28487089 FEDERAL FINANCIAL GRANTS & ALLOCATIONS 220 734912 FELLOWSHIPS 186 739453 PRIZES & LIVING EXPENSE GRANTS 133 303174 CAREER AND OTHER GRANTS 149 547994 HEERF AID - STUDENT AID INSTITUTIONAL PORTIONS 338 408700 PART I, LINE 2: AS FEDERALLY MANDATED, THE SCHOOL PREPARES ANNUALLY A STUDENT COST OF ATTENDANCE BUDGET, WHICH INCLUDES TUITION, ROOM AND BOARD, AND AN ESTIMATE FOR THE COST OF BOOKS, SUPPLIES, TRANSPORTATION, AND PERSONAL EXPENSES. THE SCHOOL THEN AWARDS FEDERAL, STATE AND INSTITUTIONAL AID BASED UPON THE COST OF ATTENDANCE AND THE FAMILY'S EXPECTED CONTRIBUTION, AS DETERMINED BY THE FEDERAL NEEDS ANALYSIS FORMULA. STUDENTS DO NOT RECEIVE FUNDING IN EXCESS OF THE COST OF ATTENDANCE, AND IN CASES WHERE OUTSIDE GRANTS ARE RECEIVED, STUDENT SELF-HELP AID (I.E. LOANS AND WORK-STUDY) IS REDUCED FIRST TO ENSURE THAT AID IS NOT OVER-AWARDED. STUDENTS MUST DOCUMENT ADDITIONAL EDUCATIONALLY-RELATED EXPENSES IN ORDER TO RECEIVE FUNDING ABOVE THEIR UNMET NEEDS. X X 1 1 X X X X X X 0 1 0 0 0 0 0 0 0 DAMIAN WOETZEL PRESIDENT 837502 0 0 0 5549 0 108018 0 29968 0 981037 0 0 0 LESLEY ROSENTHAL CHIEF OPERATING OFFICER 503283 0 0 0 1720 0 20697 0 41143 0 566843 0 0 0 MAURICE EDELSON VP ADMIN & GENERAL COUNSEL 434169 0 0 0 1720 0 28500 0 43585 0 507974 0 0 0 ALEXANDRA WHEELER VP & CHIEF ADVANCEMENT OFFICER 421096 0 0 0 2410 0 28500 0 41085 0 493091 0 0 0 JOSEPH W POLISI CHIEF CHINA OFFICER 319049 0 0 0 10552 0 28500 0 32215 0 390316 0 0 0 CHRISTINE TODD VP & CHIEF FINANCIAL OFFICER 339856 0 0 0 893 0 28500 0 16987 0 386236 0 0 0 ARA GUZELIMIAN INTERIM DEAN & DR OF MUSIC DIVISON 309590 0 0 0 3585 0 28500 0 43511 0 385186 0 0 0 CARL YOUNG CHIEF INFORMATION OFFICER 320540 0 0 0 4013 0 28500 0 16466 0 369519 0 0 0 LI LIN FACULTY 272669 0 0 0 1678 0 22722 0 42870 0 339939 0 0 0 YOHEVED KAPLINSKY ARTISTIC DIRECTOR & FACULTY 266968 0 0 0 6161 0 21457 0 15418 0 310004 0 0 0 STEVEN LAITZ FACULTY 263319 0 0 0 3408 0 26342 0 16187 0 309256 0 0 0 EVAN D YIONOULIS DEAN & DIRECTOR, DRAMA 275044 0 0 0 1798 0 26371 0 3536 0 306749 0 0 0 ADAM MEYER PROVOST & DEAN 244962 0 0 0 573 0 24923 0 26294 0 296752 0 0 0 JOAN WARREN VP FOR ENROLLMENT & STUDENT DEVELOP. 247095 0 0 0 3266 0 25076 0 16599 0 292036 0 0 0 PART I, LINE 1A ON OCCASION, THE SCHOOL PROVIDES NON-COACH (GENERALLY BUSINESS-CLASS, ALTHOUGH FIRST-CLASS MAY BE USED IF BUSINESS-CLASS IS UNAVAILABLE) TRAVEL FOR ITS OFFICERS FOR TRAVEL TO INTERNATIONAL DESTINATIONS, IN ACCORDANCE WITH THE SCHOOL'S POLICY. SUCH TRAVEL IS IN DIRECT SUPPORT OF THE SCHOOL'S EDUCATIONAL AND PERFORMANCE PROGRAMS (FOR EXAMPLE, AN INTERNATIONAL PERFORMANCE TOUR OF THE STUDENT ORCHESTRA). ALSO, ON OCCASION THE SCHOOL PROVIDES TRANSPORTATION FOR THE SPOUSE OF THE PRESIDENT TO ATTEND, ON BEHALF OF THE SCHOOL, FUNCTIONS OR OTHER EVENTS TOGETHER WITH THE PRESIDENT IN DIRECT SUPPORT AND FURTHERANCE OF THE SCHOOL'S MISSION. PART I, LINE 3 AN EMPLOYMENT CONTRACT IS EXECUTED BETWEEN THE SCHOOL AND ITS PRESIDENT, THE TERMS OF WHICH ARE SUBJECT TO REVIEW BY THE BOARD OF TRUSTEES. AT THE END OF THE CONTRACT'S TERM, WHEN DECIDING THE TERMS UNDER WHICH THE CONTRACT MAY BE RENEWED OR EXTENDED, THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, WITH THE ASSISTANCE OF AN OUTSIDE COMPENSATION EXPERT, CONDUCTS RESEARCH AMONG PEER INSTITUTIONS AND DOCUMENTS THE FINDINGS AND DECISIONS REACHED. THE COMPENSATION OF OFFICERS AND OTHER KEY EMPLOYEES IS REVIEWED ANNUALLY BY THE COMPENSATION COMMITTEE PRIOR TO THE START OF EACH FISCAL YEAR, AND QUESTIONS, OBJECTIONS, AND THE RESOLUTION OF EACH IS DOCUMENTED. PART I, LINE 4B THE PRESIDENT EARNED ACCRUED DEFERRED COMPENSATION OF $79,518 IN ACCORDANCE WITH HIS EMPLOYMENT AGREEMENT. THIS AMOUNT IS REPORTED ON SCHEDULE J, PART II, COLUMN C. A TRUST FOR CULTURAL RESOURCES NYC SER 2015A&B 911882413 2015-06-25 70000000 REFUNDING REV. BONDS 0 0 0 B TRUST CULTURAL RESOURCES NYC SER 2017A&B 911882413 2017-07-26 77145000 REFUNDING REV. BONDS 0 0 0 C TRUST CULTURAL RESOURCES NYC SER 2018A 911882413 649717UK9 2018-11-15 48389236 REFUNDING REV. BONDS 0 0 0 A 70000000 70000000 2015 1 0 1 1 B 77145000 77145000 2018 1 0 1 1 C 48389236 528923 47860313 2018 1 0 1 1 A 0 0 1 1 0 0.00500 0.00700 0.01200 0 0 1 B 0 0 1 1 0 0.00500 0.00700 0.01200 0 0 1 C 0 0 1 1 0 0.00500 0.00700 0.01200 0 0 1 A 0 0 1 0 1 0 0 0 0 B 0 0 1 0 1 0 0 0 0 C 0 0 1 0 0 0 0 0 0 A 1 B 1 C 1 SCHEDULE K, PART II THE SERIES 2018A BONDS WERE ISSUED THROUGH TAX-EXEMPT BONDS ISSUED BY THE TRUST FOR CULTURAL RESOURCES OF THE CITY OF NEW YORK ON NOVEMBER 15, 2018. AMOUNTS USED IN THE 2009A BOND REFUNDING IN THE AMOUNT OF $47,850,000 ARE INCLUDED ON PART II LINES 6 AND 7. THE SERIES 2017A AND SERIES 2017B BONDS WERE ISSUED ON JULY 26, 2017 AND DIRECTLY PLACED WITH TWO FINANCIAL INSTITUTIONS THROUGH BOND PURCHASE AND PLACEMENT AGREEMENTS ON THAT DATE. AMOUNTS USED IN THE 2009B BOND REFUNDING IN THE AMOUNT OF $77,145,000 ARE INCLUDED ON PART II LINE 6. THE SERIES 2015A AND SERIES 2015B BONDS WERE ISSUED ON JUNE 25, 2015 AND DIRECTLY PLACED WITH TWO FINANCIAL INSTITUTIONS THROUGH BOND PURCHASE AND PLACEMENT AGREEMENTS ON THAT DATE. AMOUNTS USED IN THE 2009C BOND REFUNDING IN THE AMOUNT OF $70,000,000 ARE INCLUDED ON PART II LINE 6. SCHEDULE K, PART IV, LINE 7 JUILLIARD HAS NOT ESTABLISHED FORMAL WRITTEN PROCEDURES TO MONITOR THE REQUIREMENTS OF SECTION 148, HOWEVER, THE ORGANIZATION DOES HAVE INFORMAL PROCEDURES IN PLACE TO MONITOR SECTION 148 ARBITRAGE REQUIREMENTS. X 33 1865386 MEAN TRADING PRICE X MUSICAL INST. 9 218390 EXPERT OPINION 7 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 BUSINESS RELATIONSHIPS BRUCE KOVNER, CHAIR & GREG MARGOLIES, TRUSTEE - BUSINESS RELATIONSHIP J. CHRISTOPHER KOJIMA, TRUSTEE & KENT CLARK, TRUSTEE - BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS FOLLOWING COMPLETION OF A DRAFT FORM 990 BY MANAGEMENT AND REVIEW BY AN OUTSIDE ACCOUNTING FIRM, THE SCHOOL PROVIDES A DRAFT COPY OF ITS FORM 990 TO THE AUDIT COMMITTEE AND SUBSEQUENTLY TO THE BOARD OF TRUSTEES PRIOR TO FILING. IT SOLICITS QUESTIONS AND COMMENTS FROM THE GOVERNING BOARD, AND ANY MATTERS RAISED IN THIS REVIEW PROCESS ARE ADDRESSED PRIOR TO FILING THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY MONITORING & ENFORCEMENT EACH YEAR, ALL TRUSTEES, OFFICERS, AND MEMBERS OF SENIOR MANAGEMENT COMPLETE CONFLICT OF INTEREST DECLARATIONS. THE DECLARATIONS ARE SUBMITTED TO THE ASSISTANT GENERAL COUNSEL WHO REVIEWS THE DECLARATIONS AND MAINTAINS THEM. ADDITIONALLY, IF TRUSTEES ARE ELECTED DURING THE YEAR, EACH COMPLETES A CONFLICT OF INTEREST DECLARATION UPON ELECTION. ANY CONFLICTS OR POTENTIAL CONFLICTS ARE REVIEWED BY THE AUDIT COMMITTEE, AND IF THE COMMITTEE DETERMINES THAT A POTENTIAL CONFLICT OF INTEREST EXISTS, THE MATTER IS REFERRED TO THE BOARD FOR RESOLUTION AS APPLICABLE BASED ON THE CIRCUMSTANCES OF THE MATTER AT HAND. THE TRUSTEE AFFECTED BY THE POTENTIAL CONFLICT MAY NOT BE PRESENT NOR PARTICIPATE IN THE DISCUSSION OF THE MATTER AND MAY NOT VOTE ON THE ISSUE. THE SCHOOL MAY ENTER INTO THE PROPOSED TRANSACTION OR RELATIONSHIP ONLY IF THE BOARD APPROVES IT IN ACCORDANCE WITH THE PROCEDURES DESCRIBED ABOVE. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR DETERMINING COMPENSATION AN EMPLOYMENT CONTRACT IS EXECUTED BETWEEN THE SCHOOL AND ITS PRESIDENT, THE TERMS OF WHICH ARE SUBJECT TO REVIEW BY THE BOARD OF TRUSTEES. AT THE END OF THE CONTRACT'S TERM, WHEN DECIDING THE TERMS UNDER WHICH THE CONTRACT MAY BE RENEWED OR EXTENDED, THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, WITH THE ASSISTANCE OF AN OUTSIDE COMPENSATION EXPERT, CONDUCTS RESEARCH AMONG PEER INSTITUTIONS AND DOCUMENTS THE FINDINGS AND DECISIONS REACHED. THE COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES IS REVIEWED ANNUALLY BY THE COMPENSATION COMMITTEE PRIOR TO THE START OF EACH FISCAL YEAR, AND QUESTIONS, OBJECTIONS, AND THE RESOLUTION OF EACH IS DOCUMENTED. COMPENSATION OF THE FOLLOWING OFFICERS AND KEY EMPLOYEES WAS LAST REVIEWED FOR FISCAL YEAR 2020-2021: PRESIDENT, PROVOST/DEAN, VP FOR DEVELOPMENT, VP FOR PUBLIC AFFAIRS, VP/GENERAL COUNSEL, VP AND CFO, VP FOR ENROLLMENT MANAGEMENT/STUDENT DEVELOPMENT, AND CHIEF OPERATING OFFICER. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC DISCLOSURE OF DOCUMENTS ALL POLICIES OF THE SCHOOL APPLICABLE TO EMPLOYEES ARE DISCLOSED IN THE STAFF AND FACULTY HANDBOOKS AND ACCOMPANYING STATEMENTS, ALL OF WHICH ARE POSTED ON THE SCHOOL'S WEBSITE FOR STAFF AND FACULTY MEMBERS - AND ANYONE ELSE - TO REVIEW. THE SCHOOL MAKES ITS ANNUAL AUDITED FINANCIAL STATEMENTS AVAILABLE UPON REQUEST TO ANY INTERESTED PARTIES. THE CONFLICT OF INTEREST POLICY APPLICABLE TO TRUSTEES IS DISCUSSED IN PART VI, SECTION B, BUT IT IS NOT PUBLISHED ON THE WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 1,505,931. CHANGE IN FAIR VALUE OF DERIVATIVE INSTRUMENTS 19,073,569. SCHERZO LLC 60 LINCOLN CENTER PLAZA NEW YORK NY 10023 811344522 SUPPORT NY 0 0 JUILLIARD INSTITUTE OF MUSICAL ART 60 LINCOLN CENTER PLAZA NEW YORK NY 10023 136162648 SUPPORT NY 501(C)(3) 12A JUILLIARD 1 ALLERGO (TIANJIN) EDUCATION CONSULTING BAO YUAN BLDG 9TH FL SECTION C 8 TIANJIN FREE TRADE EX CH MGMT COMPANY CH SCHERZO LLC C 1.00000 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 1 INSTITUTE OF MUSICAL ART A 3106503 FMV SCHEDULE R, PART V UNDER AN ARRANGEMENT BETWEEN THE TRUSTEES OF THE INSTITUTE OF MUSICAL ART OF THE CITY OF NEW YORK ("THE IMA") AND THE JUILLIARD SCHOOL ("THE SCHOOL"), THE INCOME FROM ALL INVESTMENTS OF THE IMA IS USED TO SUPPORT THE SCHOOL'S OPERATIONS. CERTAIN TRUSTEES AND EMPLOYEES OF THE SCHOOL SERVE AS TRUSTEES OF THE IMA, AND CERTAIN PAID EMPLOYEES OF THE SCHOOL PROVIDE ADMINISTRATIVE AND RECORDKEEPING SERVICES FOR THE IMA. THERE ARE NO REIMBURSEMENTS OR CASH TRANSFERS BETWEEN THE IMA AND THE SCHOOL FOR THESE SERVICES. IN 2002, THE TRUSTEES OF THE IMA DELEGATED INVESTMENT MANAGEMENT AUTHORITY OVER THE IMA'S ASSETS (AN INVESTMENT PORTFOLIO) TO THE SCHOOL, AND THE IMA TRANSFERRED ITS ASSETS (IN CASH) TO THE SCHOOL. THESE FUNDS WERE COMMINGLED WITH THE SCHOOL'S INVESTMENT PORTFOLIO, ALTHOUGH THE IMA REMAINS A SEPARATE LEGAL ENTITY AND SEPARATE FUND RECORDS ARE MAINTAINED TO RECORD IMA ACTIVITIES. THE MANAGEMENT OF THE IMA'S INVESTMENT PORTFOLIO AND THE METHOD USED TO DETERMINE INVESTMENT RETURNS AVAILABLE FOR SPENDING ARE IDENTICAL TO THOSE OF THE SCHOOL. THE VALUE OF THE IMA'S ASSETS AT JUNE 30, 2021 WERE $13,620,450. THE IMA'S NET INVESTMENT RETURN WAS $3,106,503 FOR THE YEAR ENDED JUNE 30, 2021.