2021-02-10T13:51:26-06:00 2020-06-30 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2019-07-01 042469627 BOSTON LYRIC OPERA COMPANY BOST 6175424912 133 FEDERAL STREET NO 800 BOSTON MA 02110 ESTHER NELSON GENERAL AND ARTISTIC DIRECTOR 6175424912 2021-02-08 1 THOMAS F MULDOON CPA P01561688 5083669100 2021-02-08 2019 2022-09-23 18:48:47Z X ESTHER NELSON 133 FEDERAL STREET NO 800 BOSTON MA 02110 13553271 0 X WWW.BLO.ORG X 1970 MA THE MISSION OF BOSTON LYRIC OPERA IS TO BUILD CURIOSITY, ENTHUSIASM, AND SUPPORT FOR OPERA BY CREATING MUSICALLY AND THEATRICALLY COMPELLING PRODUCTIONS, EVENTS, AND EDUCATIONAL RESOURCES FOR OUR COMMUNITY AND BEYOND. BLO'S PROGRAMS ARE FUNDED, IN PART, BY GRANTS FROM THE MASSACHUSETTS CULTURAL COUNCIL AND NATIONAL ENDOWMENT FOR THE ARTS. 24 23 516 47 0 0 7257646 6189354 1189351 464495 321631 1182406 -27158 -119390 8741470 7716865 0 0 0 0 4055679 3622802 0 0 896337 4641079 4344169 8696758 7966971 44712 -250106 22326551 20490086 1994294 1948241 20332257 18541845 X THE MISSION OF BOSTON LYRIC OPERA (BLO) IS TO BUILD CURIOSITY, ENTHUSIASM, AND SUPPORT FOR OPERA BY CREATING MUSICALLY AND THEATRICALLY COMPELLING PRODUCTIONS AND EVENTS, AND TO PROVIDE EDUCATIONAL RESOURCES FOR THE BOSTON COMMUNITY AND BEYOND. BLO'S PROGRAMS ARE FUNDED, IN PART BY GRANTS FROM THE MASSACHUSETTS CULTURAL COUNCIL AND NATIONAL ENDOWMENT FOR THE ARTS. 0 0 5814374 488498 BOSTON LYRIC OPERA COMPANY (BLO)IS A MASSACHUSETTS NONPROFIT INSTITUTION INCORPORATED IN 1976. BLO IS NEW ENGLAND'S LARGEST AND LONGEST ESTABLISHED OPERA COMPANY. CELEBRATED FOR ITS ARTISTIC EXCELLENCE AND DIVERSE REPERTOIRE, BLO'S MISSION IS TO BUILD CURIOSITY, ENTHUSIASM AND SUPPORT FOR OPERA BY CREATING MUSICALLY AND THEATRICALLY COMPELLING PRODUCTIONS AND EVENTS, AND TO PROVIDE EDUCATIONAL RESOURCES FOR THE BOSTON COMMUNITY AND BEYOND. BLO'S LONG-TERM SUCCESS IS ROOTED IN ITS COMMITMENT TO OFFERING THE HIGHEST CALIBER PRODUCTIONS OF BOTH CLASSIC AND CONTEMPORARY OPERAS; PROVIDING AN INTERNATIONALLY RENOWNED PLATFORM ON WHICH EMERGING ARTISTS CAN GROW AND DEVELOP; ENGAGING NEW AND DIVERSE AUDIENCES THROUGH INNOVATIONS IN TECHNOLOGY, OURTEACH AND STRATEGIC COMMUNICATIONS; AND BY OFFERING COLLABORATIVE EDUCATION AND COMMUNITY EVENTS BOTH ON ITS OWN AND IN PARTNERSHIP WITH OTHER WORLD-LEADING, BOSTON-BASED CULTURAL INSTITIONS. THROUGH THE WHOLE OF ITS EFFORTS, BLO ACHIEVES ITS MISSION BY ENSURING THE AVAILABILITY AND ACCESSIBILITY OF ONE OF THE WORLD'S GREATEST AND OLDEST ART FORMS FOR GENERATIONS TO COME. EACH SEASON, BLO REACHES ANNUAL AUDIENCES OF MORE THAN 20,000 PEOPLE THROUGH THE PRESENTATION OF FOUR ON-STAGE PRODUCTIONS AND A VARIETY OF COMMUNITY OUTREACH PROGRAMS. IN FISCAL YEAR 2020, BLO PRESENTED ON-STAGE PRODUCTIONS AT THE DCR STERITI MEMORIAL RINK AND THE EMERSON/PARAMOUNT THEATRE; HOWEVER, TWO ON-STAGE PRODUCTIONS WERE CANCELLED DUE TO COVID-19. IN LIEU OF ON-STAGE PRODUCTIONS, BLO PARTNERED WITH EMERSON COLLEGE AND WGBH TO PRESENT A LIVE STREAM OF ONE OF ITS PRODUCTIONS, DEVELOPED THE STREET STAGE MOBILE OPERA SERIES AND A DIGITAL OPERA SUBSCRIPTION SERVICE FOR OPERA THAT WAS IMPLEMENTED IN FISCAL 2021. THE LATTER HAVE INCREASED THE NUMBER OF AUDIENCE MEMBERS ABLE TO EXPERIENCE BLO'S PRODUCTIONS. 273305 BOSTON LYRIC OPERA'S EDUCATION AND COMMUNITY PROGRAMS ARE CENTRAL TO BLO'S MISSION OF ENGAGING NEW AND DIVERSE AUDIENCES IN THE LIVING ART OF OPERA. BLO'S PROGRAMS PROVIDE VALUABLE LEARNING AND CURRICULUM RESOURCES FOR TEACHERS AT ALL LEVELS; ENGAGE FAMILIES, YOUNG ADULTS AND UNDERREPRESENTED GROUPS; AND CREATE LINKAGES WITH OTHER VITAL ART FORMS, INCLUDING THEATER, CLASSICAL MUSIC, DANCE, THE VISUAL ARTS AND BEYOND. THROUGH EDUCATIONAL PROGRAMS AND PARTNERSHIP PROGRAMS, BLO COLLABORATES ACROSS A BROAD SPECTRUM TO TAKE OPERA DEEPER INTO THE FABRIC OF THE LOCAL COMMUNITY AND BEYOND. 6087679 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 140 0 1 516 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 24 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X KAREN T FROST 6175424912 133 FEDERAL STREET SUITE 800 BOSTON MA 02110 ESTHER NELSON GENERAL & ARTISTIC DIRECTOR 40.00 X X 236856 0 27447 EILEEN WILLISTON DIRECTOR OF EXTERNAL RELATIONS 40.00 X 153903 0 185 KAREN FROST CHIEF FINANCIAL OFFICER 40.00 X 126905 0 10572 MICHAEL J PUZO CHAIR 5.00 X X 0 0 0 MIGUEL DE BRAGANCA VICE-CHAIR 1.00 X X 0 0 0 SUSAN W JACOBS TREASURER 1.00 X X 0 0 0 DR IRVING H PLOTKIN CLERK 1.00 X X 0 0 0 WAYNE DAVIS DIRECTOR 1.00 X 0 0 0 WILLA BODMAN DIRECTOR 1.00 X 0 0 0 LINDA CABOT BLACK DIRECTOR 1.00 X 0 0 0 ALICIA COONEY DIRECTOR 1.00 X 0 0 0 ALAN DYNNER DIRECTOR 1.00 X 0 0 0 ANDREW EISENBERG DIRECTOR 1.00 X 0 0 0 MIMI HEWLETT DIRECTOR 1.00 X 0 0 0 AMELIA WELT KATZEN DIRECTOR 1.00 X 0 0 0 MARIA J KROKIDAS DIRECTOR 1.00 X 0 0 0 JEFFREY MARSHALL DIRECTOR 1.00 X 0 0 0 ABIGAIL B MASON DIRECTOR 1.00 X 0 0 0 A NEIL PAPPALARDO DIRECTOR 1.00 X 0 0 0 E LEE PERRY DIRECTOR 1.00 X 0 0 0 WILLIAM POUNDS DIRECTOR 1.00 X 0 0 0 DAVID W SCUDDER DIRECTOR 1.00 X 0 0 0 SUSAN R SHAPIRO DIRECTOR 1.00 X 0 0 0 RAY STATA DIRECTOR 1.00 X 0 0 0 ROBERT EASTMAN DIRECTOR 1.00 X 0 0 0 ANNE M MORGAN DIRECTOR 1.00 X 0 0 0 CHRISTOPHER TADGELL DIRECTOR (LEFT DURING 2020) 1.00 X 0 0 0 LADY JULIET TADGELL DIRECTOR (LEFT DURING 2020) 1.00 X 0 0 0 517664 0 38204 3 0 1 0 0 589275 811813 4788266 645017 6189354 TICKET SALES 900099 464495 464495 464495 417597 417597 6419169 5654360 764809 764809 764809 38653 589275 182046 -143393 -143393 OTHER INCOME 900099 24003 24003 24003 7716865 488498 0 1039013 520158 125174 394984 2442029 1812090 113985 515954 116535 110869 1227 4439 123394 82156 13999 27239 420686 312471 50680 57535 8621 4105 2463 2053 43159 43159 83217 83217 648559 547642 62923 37994 225021 224511 510 170920 82989 41819 46112 195365 146599 23055 25711 406539 247070 87274 72195 90310 67520 4502 18288 44121 21010 12606 10505 46517 29380 9347 7790 53510 32101 21409 DIRECT PERFORMANCE COST 1457932 1457932 PERFORMANCE CANCELLATIO 504415 504415 VENUE SEARCH, FEES AND 168706 168706 MISCELLANEOUS 67601 50450 7860 9291 129656 60489 8446 60721 7966971 6087679 982955 896337 354890 984332 30756 102665 5928667 4395404 15672 1767 96280 59903 561380 419608 91970 141772 15784316 14704267 24000 99976 22326551 20490086 403731 593593 490563 358672 1100000 900000 0 95976 1994294 1948241 X 903984 419507 19428273 18122338 20332257 18541845 22326551 20490086 -250106 -1540306 0 X X 0 1 X 1 0 X 4535205 5285936 8289966 7257646 6189354 31558107 4535205 5285936 8289966 7257646 6189354 31558107 9838215 21719892 380010 395682 507466 459883 417597 2160638 112723 80232 109623 48092 24003 374673 34093418 5916563 0.63710 0.57790 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 16847146 55000 -435291 850000 15616855 15430642 1031000 1060504 675000 16847146 15227593 75558 727491 600000 15430642 14493829 32156 1271608 -570000 15227593 14383203 28525 612101 -530000 14493829 0.96650 0.03350 0 0 75290 5378 69912 186271 134063 52208 299819 280167 19652 141772 REFUNDABLE ADVANCE 95976 95976 X 6380049 -1540306 104661 182046 -1253599 7633648 83217 83217 7716865 8170461 104661 182046 286707 7883754 83217 83217 7966971 PART X, LINE 2: BLO ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. BLO HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS AT JUNE 30, 2020. HOWEVER, BLO'S INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY THE APPROPRIATE JURISDICTIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT SPECIAL EVENTS EXPENSE NETTED WITH REVENUES ON 990 182,046. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT SPECIAL EVENTS EXPENSE NETTED WITH REVENUES ON 990 182,046. SCHEDULE D PART V #4 PART V, #4 - BLO HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS. ENDOWMENT ASSETS INCLUDE THOSE ASSETS OF DONOR RESTRICTED FUNDS THAT BLO MUST HOLD IN PERPETUITY. UNDER THIS POLICY, AS APPROVED BY THE BOARD OF DIRECTORS, THE PRIMARY LONG-TERM FINANCIAL OBJECTIVE IS TO PRESERVE THE REAL (I.E. INFLATION ADJUSTED) VALUE OF THE ENDOWMENT INVESTMENT PORTFOLIO. THIS OBJECTIVE IS MEASURED ON AN INTERMEDIATE AND LONG-TERM BASIS (THREE, FIVE AND TEN YEARS). THE SECONDARY FINANCIAL OBJECTIVES ARE TO PROVIDE WITHIN THE PARAMETERS OF MODERATE RISK; 1) ANNUAL INCOME, DEFINED AS TOTAL RETURN FROM INTEREST, DIVIDENDS AND APPRECIATION IN EXCESS OF INFLATION AND; 2) LONG-TERM GROWTH OF THE ASSETS. TO SATISFY ITS OBJECTIVES, BLO RELIES ON A TOTAL RETURN STRATEGY IN WHICH INVESTMENT RETURNS ARE ACHIEVED THROUGH BOTH CAPITAL APPRECIATION (REALIZED AND UNREALIZED GAINS) AND CURRENT YIELD (INTEREST AND DIVIDENDS). BLO TARGETS A DIVERSIFIED ASSET ALLOCATION THAT INCLUDES EQUITIES AND FIXED INCOME INVESTMENTS WITHIN PRUDENT RISK CONSTRAINTS. BLO HAS ADOPTED AN INVESTMENT SPENDING POLICY RELATED TO ITS ENDOWMENT ASSETS THAT INCORPORATES THE TRANSFER OF A PORTION OF THE VALUE OF ENDOWMENT ASSETS TO THE OPERATING BUDGET SUBJECT TO VARIOUS FACTORS. THE SPENDING POLICY IS CALCULATED AS FOLLOWS: EACH FISCAL YEAR BLO MAY, UNDER THE ADVISEMENT OF THE INVESTMENT COMMITTEE, TRANSFER TO THE OPERATING BUDGET AN AMOUNT EQUAL TO THE SUM OF THE FOLLOWING: 70 PERCENT OF THE PRIOR FISCAL YEAR'S DRAW 30 PERCENT OF 5 PERCENT OF THE PRIOR FISCAL YEAR'S AVERAGE QUARTERLY MARKET VALUE OF THE ENDOWMENT FUND, INCLUSIVE OF THE ENDOWMENT FUND'S PRO RATA SHARE OF INVESTMENT MANAGEMENT AND CUSTODIAL FEES, BUT EXCLUSIVE OF PRIOR YEARS' NEW GIFTS 5 PERCENT OF THE CASH CONTRIBUTIONS (1.25 PERCENT PER QUARTER) FOR FOUR CONSECUTIVE QUARTERS BEGINNING WITH THE QUARTER OF RECEIPT IN ACCORDANCE WITH CURRENT STATE LAW - THE UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT, KNOWN AS "UPMIFA", (ADOPTED BY THE COMMONWEALTH OF MASSACHUSETTS ON JUNE 30, 2009) - BLO CONSIDERS THE FOLLOWING STANDARDS OF PRUDENCE AS IT ANNUALLY REVIEWS THE EFFECTS OF THE SPENDING POLICY DETAILED ABOVE: 1) THE POLICY AND PRESERVATION OF THE ENDOWMENT FUND 2) THE PURPOSES OF BLO AND THE ENDOWMENT FUND 3) GENERAL ECONOMIC CONDITIONS 4) THE POSSIBLE EFFECT OF INFLATION OR DEFLATION 5) THE EXPECTED TOTAL RETURN FROM INCOME AND APPRECIATION OF INVESTMENTS 6) OTHER RESOURCES OF BLO 7) THE INVESTMENT POLICY OF BLO IN THE EVENT OF A SIGNIFICANT MARKET DECLINE, BLO WILL CONSIDER ALL FACTORS RELEVANT TO THE STATED GOAL IN DETERMINING ANY CHANGE TO THE APPROPRIATION AS ALLOWED BY "UPMIFA". GALA 627928 589275 38653 535 62907 118604 NONE 627928 589275 38653 535 62907 118604 182046 -143393 X X X X X 0 0 0 0 0 0 0 0 0 ESTHER NELSON GENERAL & ARTISTIC DIRECTOR 205356 0 31500 0 0 0 17888 0 9559 0 264303 0 0 0 EILEEN WILLISTON DIRECTOR OF EXTERNAL RELATIONS 153903 0 0 0 0 0 0 0 185 0 154088 0 0 0 X 14 645017 SELLING PRICE 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B FINAL APPROVAL OF THE ANNUAL AUDITED FINANCIAL STATEMENTS AND CORPORATE TAX RETURNS IS VESTED WITH THE EXECUTIVE COMMITTEE UPON RECOMMENDATION OF THE AUDIT AND FINANCE COMMITTEES. A BOARD COMMENT PERIOD IS PROVIDED. FORM 990, PART VI, SECTION B, LINE 12C BOSTON LYRIC OPERA COLLECTS CONFLICT OF INTEREST DISCLOSURE STATEMENTS ANNUALLY FROM ALL BOARD MEMBERS AND FROM STAFF MEMBERS WITH SIGNIFICANT DECISION-MAKING AUTHORITY. POTENTIAL CONFLICTS OF INTEREST ARE BROUGHT TO THE ATTENTION OF THE CHAIR OF THE BOARD AND/OR GENERAL DIRECTOR OF THE COMPANY FOR CONSIDERATION BY THE BOARD. FORM 990, PART VI, SECTION B, LINE 15A BOSTON LYRIC OPERA USES SEVERAL INFORMATION SOURCES TO ESTABLISH COMPENSATION. THESE SOURCES INCLUDE SURVEY OF SALARY INFORMATION FOR POSITION EQUIVALENTS IN SELECTED MA CULTURAL INSTITUTIONS, OPERA AMERICA DATA ON SALARIES FROM ITS MOST RECENT SALARY AND BENEFITS SURVEY AND INDEPENDENT RESEARCH. FORM 990, PART VI, SECTION C, LINE 19 BOSTON LYRIC OPERA (BLO) DOES NOT MAKE ITS GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. THE FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC ON BLO'S WEBSITE, CHARITY NAVIGATOR, GUIDESTAR AND THROUGH THE CULTURAL DATA PROJECT (CDP). FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE EITHER THE AUDIT OVERSIGHT PROCESS OR AUDITOR SELECTION PROCESS DURING THE TAX YEAR.