2020-05-09T10:43:37-05:00 2019-06-30 420714325 RSM US LLP 80 CITY SQUARE BOSTON MA 02129 990 2018-07-01 237225104 NEW ENGLAND CONSERVATORY OF MUSIC NEWE 6175851725 290 HUNTINGTON AVENUE BOSTON MA 02115 ELIZABETH DIONNE VP, FINANCE & ADMINISTRATION 6175851725 2020-05-08 1 LYNNE JOHNSON P00757336 6179129000 68.199.170.159 2020-05-08 18:06:52 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 5986EA02A50E5C1C2A76B2DCE64E771EF2BE8307 2018 2020-09-23 17:36:50Z ANDREA KALYN 290 HUNTINGTON AVENUE BOSTON MA 02115 101926029 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. 21 21 1296 200 42445 -18920 11109652 10460724 49426097 51292066 3256326 1723625 81939 139141 63874014 63615556 15724538 16158616 0 0 29154958 31167733 0 0 2221702 19817686 21070047 64697182 68396396 -823168 -4780840 263773665 260075992 45954119 45190439 217819546 214885553 X NEW ENGLAND CONSERVATORY OF MUSIC (NEC) EDUCATES AND TRAINS MUSICIANS OF ALL AGES FROM AROUND THE WORLD. 0 0 45870327 15486859 39479659 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. (840 STUDENTS) 6911326 192190 4249172 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. (200 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. 6416988 479567 5999265 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. (2,100 STUDENTS) 914645 0 1563970 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. 914645 0 1563970 60113286 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 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 1 242 0 1 1296 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 21 21 0 0 1 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MA X KRISTINA E MARTIN DIRECTOR OF FINANCE & CONTROLLER 6175851725 290 HUNTINGTON AVENUE BOSTON MA 02115 ATHANASIOU NIKOLAOS BOARD TRUSTEE (FROM 10/13/18) 2.00 X 0 0 0 BAJAKIAN CLINTON J BOARD TRUSTEE 2.00 X 0 0 0 BEAL ENID L BOARD TRUSTEE 2.00 X 0 0 0 BLUMENTHAL THOMAS W TREA. & VICE CHAIR (UNTIL 9/23/18) 2.00 X X 0 0 0 BURNES KENNETT F BOARD CHAIR 2.00 X X 0 0 0 ELFERS DEBORAH B BOARD TRUSTEE 2.00 X 0 0 0 ERICHSEN PETER C SECRETARY 2.00 X X 0 0 0 ETT ALAN P BOARD TRUSTEE 2.00 X 0 0 0 FERGUSON CORINNE 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 GRAY ERIC A BOARD TRUSTEE 2.00 X 0 0 0 HENDRIX BLAIR E BOARD TRUSTEE (FROM 7/1/18) 2.00 X 0 0 0 JONI SAJ-NICOLE A BOARD TRUSTEE 2.00 X 0 0 0 KALYN ANDREA PRESIDENT (FROM 1/1/2019) 40.00 X X 0 0 0 LODER JOHN M BOARD TRUSTEE 2.00 X 0 0 0 NOVAK THOMAS INTERIM PRESIDENT (UNTIL 12/31/18) 40.00 X X 242354 0 16478 PREVOST PATRICK M BOARD TRUSTEE 2.00 X 0 0 0 RUBIN SALLY L TREASURER 2.00 X X 0 0 0 SMITH CHAD BOARD TRUSTEE 2.00 X 0 0 0 SMITHGALL THURMOND BOARD TRUSTEE 2.00 X 0 0 0 WILMERDING FRANCES B BOARD TRUSTEE 2.00 X 0 0 0 YOGG JOAN H BOARD TRUSTEE 2.00 X 0 0 0 DIONNE ELIZABETH VP, FINANCE & ADMINISTRATION 40.00 X 0 0 0 LESSER ED SR. VP FIN & OP (UNTIL 8/31/2018) 40.00 X 324864 0 24466 KELLY KATHLEEN VP OF INST ADVANCEMENT 40.00 X 308409 0 11837 RAINER KAIRYN VP OF ADMINISTRATION 40.00 X 192814 0 40411 EAGLEN LYSON JANE COLLEGE FACULTY 35.00 X 201332 0 29088 FRIED MIRIAM COLLEGE FACULTY 35.00 X 171211 0 22245 KATZ PAUL COLLEGE FACULTY 35.00 X 175230 0 21365 KIM SOOVIN COLLEGE FACULTY 35.00 X 178646 0 43979 LESSER LAURENCE COLLEGE FACULTY 40.00 X 178533 0 18044 1973393 0 227913 50 0 1 0 TISHMAN CONSTRUCTION CORP 101 FEDERAL STREET SUITE 1000 BOSTON MA 02110 CONSTRUCTION 1973473 ARAMARK SERVICES INC 2400 MARKET STREET PHILADELPHIA PA 19103 DINING HALL MANAGEMENT 1349886 GUARDIAN SECURITY & PROTECTION LLC 50 STRAWBERRY LANE CANTON MA 02021 SECURITY SERVICE 1172944 AM PM CLEANING CORP 295 WESTON STREET WALTHAM MA 02453 CLEANING SERVICE 825355 RUTTER NETWORKING TECHNOLOGIES INC 10 HIGH STREET ANDOVER MA 01810 IT SERVICES 340822 16 1099372 45886 9315466 757597 10460724 TUITION AND ACADEMIC FEES 611710 43253451 43253451 ROOM AND BOARD 721310 3734080 3734080 STUDENT HEALTH INSURANCE 524114 1092006 1092006 NON-ACADEMIC FEES 611710 793502 793502 HALL RENTALS 532000 669415 669415 1749612 1749612 51292066 118574 -25828 144402 37179 0 37179 37179 37179 39728914 464 38090888 33439 1638026 -32975 1605051 68273 1536778 100608 1099372 186146 -85538 -85538 OTHER SPECIAL EVENTS 900099 12308 12308 PUBLICATION 511190 9869 9869 STUDENT ACTIVITIES 900099 7234 7234 158089 158089 187500 63615556 51292066 42445 1820321 16158616 16158616 1720744 686020 695185 339539 23769533 20922044 1916956 930533 743587 646766 67360 29461 3123481 2683725 286823 152933 1810388 1537893 182925 89570 184440 14215 164270 5955 99752 99752 246036 246036 1796854 976234 558549 262071 133633 10225 120654 2754 1557932 1369148 73048 115736 1058498 84115 974383 4320273 4219655 85666 14952 1499173 1283407 71139 144627 243776 99875 131504 12397 1279231 1249267 23499 6465 6148361 5887437 204629 56295 STUDENT HEALTH AND FOOD 2159826 2159826 DUES & MEMBERSHIP FEES 93078 63280 16996 12802 BAD DEBT/LOSS 81062 33894 1556 45612 PAYROLL PROCESS & TEMP 65518 65518 102604 27644 74960 68396396 60113286 6061408 2221702 2955651 6930843 582903 0 9211501 5459182 987610 718195 2674353 2125915 566821 458621 163501175 41221272 122482181 122279903 48716994 47268871 75595651 74834462 263773665 260075992 2692455 2777243 1019645 1237642 35956013 34896144 6286006 6279410 45954119 45190439 X 42444105 98020943 100163688 39766766 75211753 77097844 217819546 214885553 263773665 260075992 X -4780840 1816659 30188 X 0 1 X 1 1 1 X 17725421 5905289 19636647 7125607 10460724 60853688 17725421 5905289 19636647 7125607 10460724 60853688 4062700 56790988 2813464 1733539 636961 168983 181582 5534529 240521 102821 343342 307104 153947 122738 252286 288108 1124183 67855742 176786600 0.83690 0.85700 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 124386612 4330831 3274161 4744925 4530767 246036 122469876 116917341 2875563 10273546 3013477 2422780 243581 124386612 105735542 4196622 12411747 2374497 2835121 216952 116917341 115564750 1359168 -4268619 2243995 4432136 243626 105735542 120331512 1881177 -2276516 2508401 1630550 232472 115564750 0.14260 0.61650 0.24090 0 0 1269497 1269497 132485355 30383492 102101863 25321815 10837780 14484035 4424508 4424508 122279903 15975193 F BRANDYWINE GLOBAL OPPORTUNIST 3487910 F ADAMAS OPPORTUNITIES L.P. 3660211 F ADAMAS PARTNERS L.P. 5157798 F AQR CAPITAL MANAGEMENT 1487644 F BAUPOST VALUE PARTNERS L.P. IV 14475297 F SEAMANS GLOBAL OPPORTUNITIES FUND 15303 F BROOKSIDE CAYMAN, LIMITED 1176 F SANDERSON INTL VALUE FUND 7734000 F MARATHON-LONDON EMERGING MARKETS 3357067 F WESTWOOD GLOBAL INVESTMENTS 2868872 F KLINE HILL PARTNERS FUND II LP 305054 F BAIN CAPITAL FUND XI 962156 F HIGHLAND CAPITAL PARTNERS 9-B L.P. 1311550 F ARROWSTREET CAPITAL 9033961 F KABOUTER 3749954 F DOVER STREET IX 612899 F HIGHBAR PARTNERS III 638417 F 74834462 PERKINS LOAN REFUNDABLE ADVANCES 3384974 PLANNED GIVING LIABILITY 894436 LINE OF CREDIT 2000000 6279410 X 49231724 1816659 -16174040 -14357381 63589105 246036 -219585 26451 63615556 52165717 219585 219585 51946132 246036 16204228 16450264 68396396 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, 2019 WERE REVIEWED, AND IT WAS DETERMINED THAT NO PROVISION FOR UNCERTAIN TAX POSITIONS WAS REQUIRED AS OF JUNE 30, 2019 OR 2018. MANAGEMENT BELIEVES THAT THE CONSERVATORY'S INCOME TAX RETURNS FOR FISCAL YEARS PRIOR TO JUNE 30, 2016 ARE NO LONGER SUBJECT TO EXAMINATION BY TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: BAD DEBT EXPENSE -45,612. PLANNED GIVING NET CHANGE 30,188. TUITION & DORM SCHOLARSHIP -16,158,616. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EVENTS EXPENSES REPORTED ON FORM 990, PART VIII, LINE 8B. -186,146. LOSS ON DISPOSAL OF ASSETS -33,439. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENTS EXPENSES REPORTED ON FORM 990, PART VIII, LINE 8B. 186,146. LOSS ON DISPOSAL OF ASSETS 33,439. PART XII, LINE 4B - OTHER ADJUSTMENTS: BAD DEBT 45,612. TUITION & DORM SCHOLARSHIP 16,158,616. 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 $9,313,350; COMMONWEALTH OF MASSACHUSETTS CULTURAL COUNCIL $25,000. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 7756082 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES ACADEMIC ACTIVITIES 644848 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES ACADEMIC ACTIVITIES 9859 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES ACADEMIC ACTIVITIES 8830 NORTH AMERICA 0 0 PROGRAM SERVICES ACADEMIC ACTIVITIES 3340 RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES ACADEMIC ACTIVITIES 1691 SOUTH AMERICA 0 0 PROGRAM SERVICES ACADEMIC ACTIVITIES 1079 0 0 0 0 0 0 8425729 0 8425729 1 0 1 1 1 0 BOSTON GALA 1199980 1099372 100608 38312 121927 7186 18721 1199980 1099372 100608 38312 121927 7186 18721 186146 -85538 1 SCHOLARSHIP AND OTHER FINANCIAL AID 1157 16158616 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 X X 1 1 0 0 0 0 0 1 0 NOVAK THOMAS INTERIM PRESIDENT (UNTIL 12/31/18) 216397 0 25000 0 957 0 8709 0 7769 0 258832 0 0 0 LESSER ED SR. VP FIN & OP (UNTIL 8/31/2018) 181887 0 15000 0 127977 0 7951 0 16515 0 349330 0 28500 0 KELLY KATHLEEN VP OF INST ADVANCEMENT 247452 0 60000 0 957 0 8665 0 3172 0 320246 0 0 0 RAINER KAIRYN VP OF ADMINISTRATION 171857 0 20000 0 957 0 9298 0 31113 0 233225 0 0 0 EAGLEN LYSON JANE COLLEGE FACULTY 191041 0 0 0 10291 0 9849 0 19239 0 230420 0 0 0 FRIED MIRIAM COLLEGE FACULTY 171068 0 0 0 143 0 8168 0 14077 0 193456 0 0 0 KATZ PAUL COLLEGE FACULTY 175087 0 0 0 143 0 8583 0 12782 0 196595 0 0 0 KIM SOOVIN COLLEGE FACULTY 168354 0 0 0 10292 0 7654 0 36325 0 222625 0 0 0 LESSER LAURENCE COLLEGE FACULTY 178387 0 0 0 146 0 8795 0 9249 0 196577 0 0 0 PART I, LINE 1A 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, LINES 4A-B SEVERANCE IN THE AMOUNT OF $89,443 WAS PROVIDED TO EDWARD LESSER. SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN - EDWARD LESSER PARTICIPATED IN NEC'S 457(F) PLAN. CONTRIBUTIONS TO THE PLAN WERE VESTED IN 2018. HIS GROSS PAYMENT FOR CALENDAR YEAR 2018 WAS $38,000 WHICH IS CAPTURED ON HIS 2018 FORM W-2. PART I, LINE 7 KATHLEEN KELLY RECEIVED $60,000 FROM PARTICIPATION IN A BONUS PLAN BASED ON A VARIETY OF METRICS WHICH INCLUDED THE AMOUNT OF CONTRIBUTIONS RAISED BY NEC. SENIOR ADMINISTRATORS RECEIVED BONUSES DETERMINED BY THE BOARD BASED ON PERFORMANCE. 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 3545000 23685000 23389001 295999 1 1 1 1 B 774887 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. X 69 X 13 193697 FMV X INSTRUMENTS 9 563900 FMV 6 0 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 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 A, LINE 4 THE BYLAWS WERE MODIFIED TO INCREASE THE EXECUTIVE COMMITTEE'S SIZE IN ORDER TO PERMIT COMMITTEE CHAIRS TO SERVE ON THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11B IN MARCH 2010, NEC'S BOARD OF TRUSTEES VOTED TO DELEGATE REVIEW AND APPROVAL OF THE FORM 990 TO THE FINANCE COMMITTEE. THE FINANCE 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 FINANCE 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. THE PROCESS OCCURRED IN FISCAL YEAR 2019 FOR THE PRESIDENT, VICE PRESIDENT FOR FINANCE AND ADMINISTRATION, AND VICE PRESIDENT FOR MARKETING. 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: PLANNED GIVING NET CHANGE 30,188. 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 NEW ENGLAND CONSERVATORY QALICB 290 HUNTINGTON AVE BOSTON MA 02115 473325852 TO DEVELOP NEC'S STUDENT CENTER MA 501(C)(3) LINE 7 NEW ENGLAND CONSERVATORY OF MUSIC 1 CHARITABLE REMAINDER TRUSTS INVESTMENT MA NEW ENGLAND CONSERVATORY OF MUSIC 1 GIFT ANNUITIES (34) 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 GIFT ANNUITIES (34) G 331484 CASH GIFT ANNUITIES (34) H 299386 CASH CHARITABLE LEAD ANNUITY TRUST A 5000 CASH GIFT ANNUITIES (34) F 56831 CASH PART II: IDENTIFICATION OF RELATED TAX-EXEMPT ORGANIZATIONS. LINE (1) NEC QALICB HAD BEEN DORMANT SINCE ITS INCEPTION. ITS DISSOLUTION DOCUMENTS HAVE BEEN FILED.