2022-05-13T13:34:33-05:00 2021-06-30 910189318 MOSS ADAMS LLP 21700 OXNARD ST STE 300 WOODLAND HILLS CA 91367 990 2020-07-01 952501387 THE COLBURN SCHOOL COLB 2136212200 200 SOUTH GRAND AVENUE LOS ANGELES CA 90012 MAEESHA MERCHANT CFO & VP OF BUSINESS DEVELOP. 2136212200 2022-05-15 1 MAEESHA MERCHANT XXX-XX-XXXX LAUREN A HAVERLOCK P00545829 8185771900 2022-05-12 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z SEL KARDAN 200 SOUTH GRAND AVENUE LOS ANGELES CA 90012 117009646 0 X WWW.COLBURNSCHOOL.EDU X 1951 CA SCHOOL WITH ACCLAIMED FACULTY PROVIDING THE HIGHEST QUALITY PERFORMING ARTS EDUCATION 27 27 433 25 -313786 0 24734030 22936441 15326024 12594825 1857856 23398187 2221669 446209 44139579 59375662 9240293 7849112 0 0 20895141 18652263 60000 0 1533752 20916233 16801207 51111667 43302582 -6972088 16073080 335953493 392445370 160469748 157162455 175483745 235282915 X THE COLBURN SCHOOL PROVIDES WORLD CLASS PERFORMING ARTS EDUCATION AT ALL LEVELS OF DEVELOPMENT, FROM EARLY CHILDHOOD TO THOSE PURSUING MUSIC DEGREES AND PROFESSIONAL CAREERS. EACH YEAR, MORE THAN 2,000 STUDENTS FROM AROUND THE WORLD COME TO COLBURN'S STATE-OF-THE ART CAMPUS IN LOS ANGELES TO BENEFIT FROM THE RENOWNED FACULTY, UNPARALLELED FACILITIES, AND FOCUS ON EXCELLENCE THAT UNITES THE COMMUNITY. 0 0 36440290 7849111 12594825 SEE SCHEDULE OTHE COLBURN SCHOOL ("THE SCHOOL") IS A CALIFORNIA NOT-FOR-PROFIT CORPORATION LOCATED IN THE HEART OF THE CULTURAL CORRIDOR IN DOWNTOWN LOS ANGELES, CALIFORNIA. THE MISSION OF THE SCHOOL IS TO OFFER THE HIGHEST QUALITY PERFORMING ARTS EDUCATION BY AN OUTSTANDING FACULTY IN AN OPTIMAL LEARNING ENVIRONMENT.THE SCHOOL WAS FOUNDED IN 1950 AS A PREPARATORY PROGRAM FOR THE UNIVERSITY OF SOUTHERN CALIFORNIA UNTIL 1980 WHEN IT BECAME AN INDEPENDENT COMMUNITY SCHOOL OF THE PERFORMING ARTS AND WAS ACCREDITED AS A NON-DEGREE-GRANTING INSTITUTION BY THE NATIONAL ASSOCIATION OF SCHOOLS OF MUSIC (NASM).CURRENTLY, THIS PROGRAM IS KNOWN AS THE COLBURN SCHOOL OF PERFORMING ARTS ("CSPA") AND OFFERS PROGRAMS IN MUSIC, DANCE, DRAMA, AND VOICE TO APPROXIMATELY 1,900 STUDENTS OF ALL AGES (TODDLER TO ADULT) AND ABILITIES (NOVICE THROUGH ADVANCED). THE SCHOOL ALSO OPERATES COMMUNITY OUTREACH PROGRAMS WHICH BRING PERFORMING ARTS TO UNDERSERVED CHILDREN IN INNER-CITY SCHOOLS.THE CONSERVATORY OF MUSIC, ESTABLISHED IN 2003, OFFERS UNDERGRADUATE, GRADUATE AND PROFESSIONAL-DEGREE PROGRAMS SPECIALIZING IN CLASSICAL MUSICAL PERFORMANCE. CONSERVATORY OF MUSIC PROGRAMS RANGE FROM TWO TO FOUR YEARS AND RESULT IN ONE OF THE FOLLOWING: A BACHELOR OF MUSIC DEGREE, AN ARTIST'S DIPLOMA OR A PROFESSIONAL STUDIES CERTIFICATE. ADMISSION TO THE CONSERVATORY OF MUSIC IS HIGHLY SELECTIVE, AND THE CONSERVATORY PROVIDES FINANCIAL AID TO STUDENTS, COVERING FULL TUITION AND ROOM AND BOARD. THE CONSERVATORY HAD 129 ENROLLED STUDENTS DURING THE YEAR ENDED JUNE 30, 2021. THE CONSERVATORY IS ACCREDITED BY THE NATIONAL ASSOCIATION OF SCHOOLS OF MUSIC (NASM) AS A DEGREE-GRANTING SCHOOL.THE MUSIC ACADEMY, ESTABLISHED IN 2010, IS A NON-DEGREE PROGRAM DESIGNED TO PROVIDE A COMPREHENSIVE CURRICULUM OF CLASSES TO PRE-COLLEGE HIGHLY GIFTED STUDENTS FOCUSED ON CAREERS IN MUSIC. THE MUSIC ACADEMY HAD 40 STUDENTS ENROLLED DURING THE YEAR ENDED JUNE 30, 2021. THE DANCE ACADEMY, ESTABLISHED IN 2014, IS A PRE-PROFESSIONAL TRAINING PROGRAM FOR A SELECT GROUP OF STUDENTS AGE 14-19 PURSUING THEIR GOAL OF BECOMING PROFESSIONAL DANCERS AND ARTISTIC LEADERS. THE DANCE ACADEMY HAD 12 STUDENTS ENROLLED DURING THE YEAR ENDED JUNE 30, 2021. STUDENTS IN BOTH ACADEMIES ARE ADMITTED BY AUDITION AND ANY TUITION SCHOLARSHIPS AWARDED ARE FUNDED BY THIRD-PARTY GRANTORS. 36440290 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 123 0 1 433 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 27 27 1 0 0 0 0 0 0 1 1 0 0 1 1 0 1 1 1 1 1 0 CA X LIZA MULLINS 2136211046 200 SOUTH GRAND AVENUE LOS ANGELES CA 90012 ANDREW MILLSTEIN CHAIRMAN 1.00 X X 0 0 0 CAROL COLBURN GRIGOR LIFE CHAIRMAN EMERITUS 1.00 2.00 X X 0 0 0 DAVID D COLBURN VICE CHAIRMAN 1.00 X X 0 0 0 DIANE NAEGELE VICE CHAIRMAN 1.00 X X 0 0 0 ALICE COULOMBE DIRECTOR 1.00 X 0 0 0 ALIZA LESSER DIRECTOR 1.00 X 0 0 0 ANN RONUS DIRECTOR 1.00 X 0 0 0 BEVERLY C MARKSBURY DIRECTOR 1.00 X 0 0 0 CAROL HENRY DIRECTOR 1.00 X 0 0 0 CATHERINE COLBURN HOGEL DIRECTOR (THRU 8/20) 1.00 X 0 0 0 DANIEL L AVCHEN DIRECTOR 1.00 X 0 0 0 DARREN EDWARDS DIRECTOR 1.00 X 0 0 0 DYLAN YOLLES DIRECTOR 1.00 X 0 0 0 ELIZABETH REDLEAF DIRECTOR 1.00 X 0 0 0 GREG GUYETT DIRECTOR 1.00 X 0 0 0 GREG MCWILLIAMS DIRECTOR 1.00 X 0 0 0 HARRY B SUH DIRECTOR 1.00 X 0 0 0 HEINRICH SCHELBERT DIRECTOR 1.00 X 0 0 0 HENRY CHOI DIRECTOR 1.00 X 0 0 0 JENNIFER DIENER DIRECTOR 1.00 X 0 0 0 KEITH TERASAKI DIRECTOR 1.00 X 0 0 0 MAHNAZ NEWMAN DIRECTOR 1.00 X 0 0 0 MOLLY KIRK DIRECTOR 1.00 X 0 0 0 MONICA KOHLER DIRECTOR (THRU 7/20) 1.00 X 0 0 0 NATHAN D FRANKEL DIRECTOR 1.00 X 0 0 0 PETER WARDLE DIRECTOR 1.00 X 0 0 0 RICHARD W COLBURN DIRECTOR 1.00 2.00 X 0 0 0 ROBERT LEWIS DIRECTOR 1.00 X 0 0 0 STEVEN F MATT DIRECTOR 1.00 X 0 0 0 WARNER W HENRY DIRECTOR (THRU 8/20) 1.00 X 0 0 0 SELJUK KARDAN PRESIDENT & CEO 40.00 X 430000 0 166970 SETH WEINTRAUB CFO/CAO/TREASURER (THRU 8/20) 40.00 X 141368 0 25067 LINDA CORMIER VP HR/BOD SECRETARY 40.00 X 217843 0 29316 MAEESHA MERCHANT CFO/TREASURER/VP OF BUS. DEVELP. 40.00 X 100682 0 8842 ADRIAN DALY PROVOST 40.00 X 258707 0 67575 ANNE E WICKERT VP ADVANCEMENT 40.00 X 239232 0 31725 ROBERT LIPSETT PROFESSOR 40.00 X 390958 0 61739 FABIO BIDINI PROFESSOR 40.00 X 357608 0 60083 PAUL COLETTI FACULTY 40.00 X 214646 0 74930 CLIVE GREENSMITH PROFESSOR 40.00 X 249945 0 79505 RICHARD BEENE PROFESSOR 40.00 X 218137 0 58489 2819126 0 664241 29 0 1 0 UNIVERSAL PROTECTION SERVICE LP 639 WILSHIRE BLVD LOS ANGELES CA 90017 SECURITY 824273 CAMBRIDGE ASSOCIATES 2730 SAND HILL ROAD MENLO PARK CA 94025 INVESTMENT MANAGEMENT 527509 PEERLESS BUILDING MAINTENANCE CO 21020 SUPERIOR ST CHATSWORTH CA 91311 JANITORIAL 350445 DIVERSIFIED THERMAL SERVICES INC 1220 N BARSTEN WAY ANAHEIM CA 92806 HVAC CONTRACTOR 223720 DECKER LIGHTING SUPPLY LLC 8530 VENICE BLVD LOS ANGELES CA 90034 BUILDING IMPROVEMENT/REPAIR 222092 15 8328000 1950000 12658441 620476 22936441 TUITION INCOME 611600 12594825 12594825 12594825 2901078 -313786 3214864 813831 506476 307355 307355 307355 77624617 57127508 20497109 20497109 20497109 CAFE REVENUE 722210 28 28 138826 138826 138854 59375662 12594825 -313786 24158182 7849112 7849112 1690208 295872 1114219 280117 13469775 11783652 996933 689190 721424 542699 118019 60706 1729343 1383151 244628 101564 1041513 837638 137864 66011 130067 123191 6113 763 114797 12888 101233 676 1482012 1482012 1905697 1655495 129679 120523 43447 21329 21904 214 620373 386103 192835 41435 541059 298102 135844 107113 1278044 1196703 61586 19755 20247 15270 3431 1546 20884 18886 1277 721 4231040 4171487 45345 14208 5565245 5482784 63787 18674 416683 416683 INSTRUMENTS 116176 107585 8591 0 MEALS & ENTERTAINMENT 70146 49613 16722 3811 STUDENT HEALTH/ACTIVITY 54703 48339 6364 0 EQUIPMENT & FURNITURE 34721 22906 6068 5747 155866 137485 17403 978 43302582 36440290 5328540 1533752 3040959 11541348 21375832 17454391 731998 246474 218937522 72879994 146283168 146057528 23463617 37666050 140117204 178817808 940715 661771 335953493 392445370 3642196 6732928 444224 318320 130985000 130985000 25398328 19126207 160469748 157162455 X 84016486 118996315 91467259 116286600 175483745 235282915 335953493 392445370 X 16073080 37190185 6535906 X 0 1 X 1 0 X 14910670 15750875 18848932 24734030 22936441 97180948 14910670 15750875 18848932 24734030 22936441 97180948 48245724 48935224 4578947 6258872 6683239 3099323 4028695 24649076 1115765 462358 326653 196848 138854 2240478 124070502 78422278 0.39440 0.38520 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 148042075 2208892 52386975 1534525 9586583 191516834 159548534 9249003 -3755462 1397601 15602399 148042075 167929919 4873002 8245613 926187 20573813 159548534 155302671 2688294 14756954 948965 3869035 167929919 145607777 2692752 17302142 776872 9523128 155302671 0.44033 0.55967 0.00000 0 1 1 33241342 1776839 35018181 160865948 57572697 103293251 274832 183078 91754 15541463 10968970 4572493 7237098 4155249 3081849 146057528 OTHER INVESTMENT FUNDS 153437 F MARKETABLE ASSET FUNDS 116773822 F PRIVATE INVESTMENT FUNDS 61890549 F 178817808 INTEREST RATE SWAP 19126207 19126207 X 80187450 37190185 37190185 42997265 1482012 14896384 16378396 59375661 33860399 0 33860399 1482012 7960171 9442183 43302582 PART V, LINE 4: THE SCHOOL'S ENDOWMENT IS ESTABLISED FOR A VARIETY OF PURPOSES INCLUDING SCHOLARSHIP SUPPORT, DEPARTMENT CHAIR ENDOWMENTS, AND PROGRAMMATIC ENDEAVORS. PART X, LINE 2: THE SCHOOL FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE SCHOOL IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)3 OF THE INTERNAL REVENUE CODE, THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE SCHOOL HAS ALSO BEEN RECOGNIZED BY THE CALIFORNIA FRANCHISE TAX BOARD AS EXEMPT FROM CALIFORNIA FRANCHISE AND INCOME TAXES UNDER SECTION 23701(D) OF THE CALIFORNIA REVENUE AND TAXATION CODE. THE SCHOOL HAS PROCESSED PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAYBE CONSIDERED TAX POSITIONS. THE SCHOOL HAD DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. PART XI, LINE 4B - OTHER ADJUSTMENTS: CAFE EXPENSES 111,060. FINANCIAL AID EXPENSE 7,849,110. PRIOR PERIOD PLEDGE WRITE OFFS 50,000. COLBURN MUSIC FUND DISTRIBUTION 7,200,000. UNRELATED BUSINESS INCOME/(LOSS) FOR TAX NOT FOR BOOK -313,786. PART XII, LINE 4B - OTHER ADJUSTMENTS: CAFE EXPENSES 111,060. FINANCIAL AID EXPENSE 7,849,111. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL ANNUALLY RUNS AN ADVERTISEMENT IN THE DAILY NEWS AND POSTS OUR NONDISCRIMINATORY POLICY ON OUR OWN WEBSITE AND IN OUR PROMOTIONAL MATERIALS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 34814916 NORTH AMERICA (CANADA AND MEXICO) 0 0 INVESTMENTS 902391 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 INVESTMENTS 203412 0 0 0 0 0 0 35920719 0 35920719 1 0 1 1 1 0 PART I, LINE 2: THE SCHOOL INVESTS DIRECTLY IN VARIOUS ALTERNATIVE INVESTMENTS THAT MAY BE ORGANIZED AS EITHER FOREIGN CORPORATIONS OR PARTNERSHIPS. IN ADDITION, THE SCHOOL INVESTS IN DOMESTIC LIMITED PARTNERSHIPS THAT MAY, IN TURN INVEST IN FOREIGN CORPORATIONS OR PARTNERSHIPS. NEVERTHELESS, THE INVESTMENT ACTIVITIES MAY NOT REACH THE THRESHOLDS REQUIRED FOR THE FILING OF FORMS 926, 5471, 8621, OR 8865. TO THE EXTENT THAT THE SCHOOL IS REQUIRED TO COMPLETE ONE (OR MORE) OF THESE FOREIGN FORMS, IT IS FILED WITH THE SCHOOL'S FORM 990-T. PART III ACCOUNTING METHOD: 1 CONSERVATORY SCHOLARSHIP 80 4208832 CSPA SCHOLARSHIP 379 3467769 ACADEMY SCHOLARSHIP 10 172511 PART I, LINE 2: FINANCIAL AID/GRANTS ARE AWARDED BASED ON TALENT, MERIT AND/OR NEED (AS EVIDENCED BY APPLICATION AND SUPPORTING DOCUMENTS), AND PROVIDED BASED ON SUPPORTED (RECEIPTS) EXPENSES FOR APPROVED TRAVEL, BOOKS AND HEALTH INSURANCE. STIPENDS FOR MEALS ARE SET BY ALLOWANCE. X X 1 1 X X X X X 0 1 0 0 0 0 0 1 0 SELJUK KARDAN PRESIDENT & CEO 430000 0 0 0 0 0 83678 0 83292 0 596970 0 0 0 ROBERT LIPSETT PROFESSOR 390958 0 0 0 0 0 19500 0 42239 0 452697 0 0 0 FABIO BIDINI PROFESSOR 357608 0 0 0 0 0 19500 0 40583 0 417691 0 0 0 CLIVE GREENSMITH PROFESSOR 249945 0 0 0 0 0 18730 0 60775 0 329450 0 0 0 ADRIAN DALY PROVOST 258707 0 0 0 0 0 18905 0 48670 0 326282 0 0 0 PAUL COLETTI FACULTY 214646 0 0 0 0 0 16107 0 58823 0 289576 0 0 0 RICHARD BEENE PROFESSOR 218137 0 0 0 0 0 17291 0 41198 0 276626 0 0 0 ANNE E WICKERT VP ADVANCEMENT 239232 0 0 0 0 0 17643 0 14082 0 270957 0 0 0 LINDA CORMIER VP HR/BOD SECRETARY 217843 0 0 0 0 0 15819 0 13497 0 247159 0 0 0 SETH WEINTRAUB CFO/CAO/TREASURER (THRU 8/20) 141368 0 0 0 0 0 10678 0 14389 0 166435 0 0 0 PART I, LINE 1A THE ORGANIZATION PROVIDED THE PRESIDENT AND CEO A GROSS-UP PAYMENT FOR SOCIAL CLUB DUES, WHICH IS ALSO REPORTED IN OTHER REPORTABLE COMPENSATION IN SCHEDULE J, PART II, COLUMN B (III). THE SOCIAL CLUB DUES FOR THE COLBURN SCHOOL ARE RELATED TO THE CALIFORNIA CLUB. THIS LOCATION IS WHERE BOARD RETREATS AND DONOR MEETINGS ARE HELD THROUGHOUT THE YEAR. THESE DUES ARE ONLY PROVIDED TO THE PRESIDENT/CEO AND ARE REPORTED ON THE FORM W-2 AS TAXABLE COMPENSATION. PART I, LINE 4B THE PRESIDENT & CEO PARTICIPATES IN A SEC 457(F) RETIREMENT PLAN. THE SCHOOL HAS CONTRIBUTED $50,000 TO THE PLAN FOR THE YEAR ENDING 06/30/21. THIS IS A DEFERRED COMPENSATION PROGRAM AND WILL VEST IN 2022 IF THE TERMS OF THE CONTRACT ARE MET. PART I, LINE 7 MEMBERS OF THE LEADERSHIP TEAM ARE ELIGIBLE FOR A 5% BONUS OPPORTUNITY, BUT ANY BONUS IS SUBJECT TO MANAGEMENT'S DISCRETION AND BASED ON PERFORMANCE. ANY OTHER BONUSES ARE BASED ON PERFORMANCE. A CIEDB SERIES 2015B 630304653 13034AFP0 2015-05-01 130985000 REFUND REISSUED SERIES 2008 AND SERIES 2011 BONDS 0 0 0 B CIEDB SERIES 2019 630304653 13034AD23 2019-11-01 66060000 CURRENT REFUND OF SERIES 2015A BONDS 0 0 0 A 66060000 130985000 130985000 1 0 1 1 B 66060000 66060000 2019 1 0 1 1 A 0 1 1 1 0 0.01800 0.00000 0.01800 0 0 1 B 0 1 1 1 0 0.01700 0.00000 0.01700 0 0 1 A 0 0 1 1 1 0 0 0 1 B 0 0 1 0 1 0 0 0 1 A 1 B 1 PART I, LINE A, COL (F): THE REISSUED SERIES 2008 BONDS AND SERIES 2011 BONDS WERE ISSUED ON MARCH 1, 2011 AND OCTOBER 11, 2011, RESPECTIVELY. PART I, LINE B, COL (F) THE 2019 SERIES BONDS ISSUED ON NOVEMBER 2019 WAS USED TO REDEEM THE SERIES 2015 A BONDS. PART II, LINE 13 (COL A AND B) SINCE PROCEEDS OF THE BONDS WERE USED FOR CURRENT REFUNDING PURPOSES, THE YEAR OF SUBSTANTIAL COMPLETION IS NOT APPLICABLE. WE HAVE NOTED THE YEAR THE REFUNDING WAS COMPLETE. PART III, LINE 7: AS PROVIDED IN TREASURY REGULATION SECTION 1.141-4(C) (2) (I) (B),THE AMOUNT OF PRIVATE PAYMENTS TAKEN INTO ACCOUNT UNDER THE PRIVATE PAYMENT TEST MAY NOT EXCEED THE AMOUNT OF PRIVATE BUSINESS USES AND/OR UNRELATED TRADE OR BUSINESS USE. ACCORDINGLY, THE AMOUNT OF PRIVATE PAYMENTS FOR THE REPORTING PERIOD DOES NOT EXCEED THE AMOUNT STATED IN PART III, LINE 6. THE ORGANIZATION HAS NOT UNDERTAKEN AN ANALYSIS OF THE PRIVATE SECURITY TEST WITH RESPECT TO THE BONDS, AS THE LEVEL OF PRIVATE BUSINESS USE AND/OR UNRELATED TRADE OR BUSINESS REPORTED IN PART III, LINE 6 IS NOT IN EXCESS OF AMOUNTS PERMITTED UNDER SECTION 145 OF THE CODE. X 60000 APPRAISAL X 13 213330 FMV X INSTRUMENTS 9 347146 APPRAISAL 0 1 0 PART I, COLUMN (B): THE NUMBER LISTED IN COLUMN (B) RESPRESENTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 2 THE FOLLOWING BOARD MEMBERS SHARE A FAMILY RELATIONSHIP: CATHERINE COLBURN HOGEL CAROL COLBURN GRIGOR RICHARD W. COLBURN DAVID D. COLBURN FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS COMPLETED ANNUALLY BY THE ACCOUNTING DEPARTMENT WITH A PAID PREPARER AND REVIEWED BY THE CFO. THE 990 IS PRESENTED TO THE PRESIDENT & CEO AND THE AUDIT COMMITTEE. ONCE THE CFO, PRESIDENT & CEO, AND AUDIT COMMITTEE ARE IN AGREEMENT ON THE FINAL 990, COPIES ARE PROVIDED TO THE ENTIRE GOVERNING BOARD PRIOR TO IT BEING FILED. ONCE THE 990 IS CONSIDERED FINAL, THE CFO WILL SIGN THE RETURN, OR THE AUTHORIZATION FORM FOR ELECTRONIC FILING, AND SUBMIT BY THE FILING DEADLINE. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO DISCLOSE CONFLICTS ON THE CONFLICTS OF INTEREST QUESTIONNAIRE. IF CONFLICTS ARE DISCLOSED OR OTHERWISE BROUGHT TO THEIR ATTENTION, THE BOARD WILL REVIEW THE POTENTIAL CONFLICT. IT MAY DETERMINE THAT A CONFLICT EXISTS, BUT POSES NO RISK OF HARM TO THE SCHOOL OR THAT SOME REMEDIAL ACTION OR INTERVENTION IS NECESSARY. THE BOARD DOCUMENTS DISCUSSION OF THE POTENTIAL CONFLICT AND ITS RESOLUTION. THE SCHOOL ALSO REQUIRES PERIODIC REVIEW OF TRANSACTIONS AND RELATIONSHIPS TO ENSURE THAT THERE ARE NO CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR REVIEWING AND APPROVING COMPENSATION INCLUDES REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS AND/OR COMPENSATION COMMITTEE OF THE BOARD, PROVIDED THAT PERSONS WITH CONFLICTS OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT AT ISSUE ARE NOT INVOLVED IN THE REVIEW AND APPROVAL. COMPARABLE COMPENSATION DATA (INCLUDING FORM 990'S OF OTHER ORGANIZATIONS AND COMPENSATION SURVEYS) FOR SIMILARLY QUALIFIED INDIVIDUALS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS IS USED; INDEPENDENT COMPENSATION CONSULTANTS ARE USED; AND CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING WITH RESPECT TO THE DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENT IS MAINTAINED. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, SUBJECT TO THE FEDERAL OR CALIFORNIA STATE PUBLIC DISCLOSURE RULES, ARE MADE PUBLICLY AVAILABLE AS THE APPLICABLE LAW REQUIRE. OTHERWISE, GOVERNING DOCUMENTS ARE PROVIDED TO THE PUBLIC AT THE DISCRETION OF MANAGEMENT. FORM 990, PART XI, LINE 9: GAIN ON INTEREST RATE SWAP 6,272,120. PRIOR PERIOD PLEDGE WRITE OFFS -50,000. UNRELATED BUSINESS INCOME/(LOSS) FOR TAX NOT FOR BOOK 313,786. WFBI LLC 200 S GRAND AVENUE LOS ANGELES CA 90012 812750603 REAL PROPERTY DE 171012 37743202 COLBURN SCHOOL WFGTI LLC 200 S GRAND AVENUE LOS ANGELES CA 90012 842857057 REAL PROPERTY DE 0 0 COLBURN SCHOOL COLBURN MUSIC FUND 6311 ROMAINE ST SUITE 7138 LOS ANGELS CA 90038 954804766 PF CA 501(C)(3) PF COLBURN SCHOOL 1 COLBURN FOUNDATION 6311 ROMAINE ST SUITE 7138 LOS ANGELS CA 90038 954693145 PF CA 501(C)(3) PF COLBURN SCHOOL 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 COLBURN MUSIC FUND C 7200000 COST COLBURN FOUNDATION C 1128000 COST