2018-05-11T14:00:01-05:00 2017-06-30 Grant Thornton LLP 515 S Flower Street 7th Floor Los Angeles CA 90071 990 2016-07-01 952501387 The Colburn School % KAREN S LOVETT COLB 2136212200 200 South Grand Avenue Los Angeles CA 90012 SETH WEINTRAUB CFO/CAO/TREASURER 2136212200 2018-05-10 true Rosemarie Brown P01278077 2136271717 2018-05-11 2016 2022-09-23 18:48:47Z Sel Kardan 200 South Grand Avenue Los Angeles CA 90012 89541198 false X www.colburnschool.edu X 1951 CA THE COLBURN SCHOOL IS A PERFORMING ARTS SCHOOL WITH ACCLAIMED FACULTY THAT PROVIDES STUDENTS WITH THE HIGHEST QUALITY PERFORMING ARTS EDUCATION. 26 26 453 85 -865130 -873719 15237072 14910670 11931864 14686527 -1117826 5001298 2103729 2111693 28154839 36710188 6287545 8589536 0 0 18879819 18953713 55000 72000 1624485 19807104 20726120 45029468 48341369 -16874629 -11631181 345367648 351074138 158543773 151997009 186823875 199077129 X THE COLBURN SCHOOL PROVIDES WORLD CLASS PERFORMING ARTS EDUCATION IN LOS ANGELES. EXTRACURRICULAR EDUCATION IS PROVIDED TO MORE THAN 2,000 DIVERSE STUDENTS THROUGH THE SCHOOL OF PERFORMING ARTS, THE MUSIC ACADEMY AND THE DANCE ACADEMY. THE CONSERVATORY PROVIDES DEGREED MUSIC EDUCATION TO GIFTED PUPILS. false false 42881493 8589536 14686527 THE COLBURN SCHOOL OF PERFORMING ARTS OFFERS INSTRUCTION IN THE PERFORMING ARTS FOR STUDENTS OF ALL AGES AND COMMUNITY SERVICE PROGRAMS WHICH BRING MUSIC TO UNDER-SERVED CHILDREN IN INNER CITY SCHOOLS. THE SCHOOL OF PERFORMING ARTS WAS ORGANIZED IN THE 1950S AND OFFERS CLASSES, LESSONS AND WORKSHOPS IN MUSIC, DANCE, DRAMA AND VOICE TO APPROXIMATELY 2000 STUDENTS RANGING IN AGE FROM TODDLER TO ADULT. OPENED IN 2003, THE COLBURN CONSERVATORY OF MUSIC IS ONE OF THE NATIONS LEADING CONSERVATORIES FOR HIGHLY TALENTED COLLEGE-AGE STUDENTS PURSUING THE MOST RIGOROUS CLASSICAL MUSIC INSTRUMENTAL PERFORMANCE TRAINING. CONSERVATORY PROGRAMS RANGE FROM TWO TO FOUR YEARS IN LENGTH AND RESULT IN EITHER A BACHELOR OF MUSIC DEGREE, MASTERS DEGREE, PERFORMANCE DIPLOMA, ARTISTS DIPLOMA OR PROFESSIONAL STUDIES CERTIFICATE. THE CONSERVATORY IS ACCREDITED BY THE NATIONAL ASSOCIATION OF SCHOOLS OF MUSIC. THE COLBURN SCHOOL MUSIC ACADEMY BEGAN IN 2011 AND OFFERS A COMPREHENSIVE CURRICULUM OF CLASSES TAUGHT BY PRESTIGIOUS, WORLD-RENOWNED ARTIST FACULTY DESIGNED TO DEVELOP PRE-COLLEGE AGE STUDENTS AS WELL ROUNDED MUSICIANS. THE COLBURN SCHOOL DANCE ACADEMY BEGAN IN 2015 AND OFFERS INTENSIVE, EXCEPTIONAL TRAINING FOR PRE-PROFESSIONAL BALLET DANCERS PREPARING FOR CAREERS IN DANCE. 42881493 true true false false false false false false false true true true false false true true false true true false true false false true true false false false true true true false false false false false false false false false false true false false false true true false false false true 160 0 true 453 true true true false false false false true true false false false false X 26 26 true false true false false false false true true false false true true true true true true true true false CA X KAREN S LOVETT 2136211046 200 SOUTH GRAND AVENUE Los Angeles CA 90012 Andrew Millstein Chairman as of 07/2016 1.0 0.0 X X 0 0 0 Thomas L Beckmen Vice Chairman as of 12/2016 1.0 0.0 X X 0 0 0 David D Colburn Vice Chairman as of 12/2016 1.0 0.0 X X 0 0 0 Daniel L Avchen Board Member 1.0 0.0 X 0 0 0 Adele Binder Board Member 1.0 0.0 X 0 0 0 Richard W Colburn Board Member 1.0 2.0 X 0 0 0 Alice Coulombe Board Member 1.0 0.0 X 0 0 0 Placido Domingo Board Member 1.0 0.0 X 0 0 0 Bradley H Ellis Board Member 1.0 0.0 X 0 0 0 Bea Bennett Board Member 1.0 0.0 X 0 0 0 Warner W Henry Board Member 1.0 0.0 X 0 0 0 Catherine Colburn Hogel Board Member 1.0 0.0 X 0 0 0 Beverly Marksbury Board Member 1.0 0.0 X 0 0 0 Aliza Lesser Board Member 1.0 0.0 X 0 0 0 Robert Lewis Board Member 1.0 0.0 X 0 0 0 Steven F Matt Board Member 1.0 0.0 X 0 0 0 Diane Naegele Board Member 1.0 0.0 X 0 0 0 Elizabeth Redleaf Board Member 1.0 0.0 X 0 0 0 Ann Ronus Board Member 1.0 0.0 X 0 0 0 Marc L Sandman Board Member 1.0 0.0 X 0 0 0 Keith Terasaki Board Member 1.0 0.0 X 0 0 0 Jim Ward Board Member 1.0 0.0 X 0 0 0 Peter W Wardle Board Member 1.0 0.0 X 0 0 0 Jonathan Weedman Board Member 1.0 0.0 X 0 0 0 Harry B Suh Board Member 1.0 0.0 X 0 0 0 Robert Attiyeh Board Member thru 09/2016 1.0 0.0 X 0 0 0 Carol Colburn Grigor Life Chairman Emeritus 1.0 2.0 X X 0 0 0 Sel Kardan PRESIDENT & CEO 40.0 0.0 X 498492 0 77708 Seth Weintraub CFO/CAO/TREASURER 40.0 0.0 X 255581 0 17649 Linda Cormier VP HR/BOD SECRETARY 40.0 0.0 X 167968 0 12956 Edward Horner SR VP ADVANCEMENT as of 1/2016 40.0 0.0 X 273385 0 33144 Adrian Daly PROVOST as of 07/2015 40.0 0.0 X 247778 0 34784 Robert Lipsett PROFESSOR 40.0 0.0 X 351081 0 25814 Fabio Bidini PROFESSOR 40.0 0.0 X 304026 0 28244 Richard Beene PROFESSOR 40.0 0.0 X 239394 0 20495 Ronald Leonard PROFESSOR as of 06/2015 40.0 0.0 X 228262 0 16807 Clive Greensmith PROFESSOR 40.0 0.0 X 226168 0 31586 2792135 0 299187 34 false true false Vector Resources Inc 3530 Voyager St TORRANCE CA 90503 Equipment Install 637192 Universal Protection Service LP 639 Wilshire Blvd Ste PP-137 LOS ANGELES CA 90017 Security 595680 Peerless Building Maintenance 21020 Superior St CHATSWORTH CA 91311 Building Janitorial 557526 Cambridge Associates 2730 Sand Hill Road Suite 200 MENLO PARK CA 94025 Investment Mgt 357716 B B Plumbing 6649 Odessa Avenue VAN NUYS CA 91406 Bldg. repair 335479 15 X 1376080 6826000 6708590 66367 14910670 TUITION INCOME 611600 14068127 14068127 RENTAL INCOME 531120 618400 618400 14686527 2922262 -865130 3787392 0 0 0 0 0 54516023 52436987 2079036 2079036 2079036 92575 1376080 394023 -301448 -301448 0 0 0 0 0 0 CAFE REVENUE 722210 1297376 1297376 FILM SHOOTS 900099 33340 33340 TICKET SALES 900099 44147 44147 1038278 1038278 2413141 36710188 14686527 -865130 7978121 0 8589536 8589536 0 0 1663358 301849 1045743 315766 0 13720642 12662766 551371 506505 676586 610247 40285 26054 1787654 1632337 111568 43749 1105473 954097 98462 52914 115473 113163 1155 1155 76050 17893 57921 236 100077 11760 88197 120 0 72000 72000 1081730 1081730 2852342 2480532 33229 338581 131189 120648 6056 4485 724960 625623 32275 67062 219936 199516 3810 16610 0 2011529 1546460 449218 15851 241906 221999 10551 9356 0 20134 17743 1942 449 4333613 4246818 43460 43335 0 5225887 5119097 54554 52236 417957 409597 4180 4180 INSTRUMENTS 193708 193458 250 EQUIPMENT & FURNITURES 69923 69535 194 194 SUBSCRIPTIONS 88366 49053 38809 504 UBI TAXES 22746 18594 4152 2798594 2669172 76529 52893 48341369 42881493 3835391 1624485 0 0 311352 4757620 30835926 22568918 0 0 610245 0 0 0 0 0 0 0 167551 427506 197341636 52554284 145017376 144787352 56396404 64820885 110795583 112793351 0 0 0 0 1233211 918506 345367648 351074138 2237203 2893840 0 0 500351 514569 130985000 130985000 0 0 0 0 0 0 0 0 24821219 17603600 158543773 151997009 X 106616711 113844904 22456920 26189228 57750244 59042997 186823875 199077129 345367648 351074138 X -11631181 16666815 7217620 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 145607777 1292752 17302142 776872 8123128 155302671 195183027 1331492 -8107826 550054 42248862 145607777 206073572 2434094 -6724639 213541 6386459 195183027 159119724 20533953 34531826 137602 7974329 206073572 145832328 56580 18269104 132870 4905418 159119724 0.54680 0.38020 0.07300 false true true 32998916 1776839 34775755 138215064 39130986 99084078 4223155 1411378 2811777 12409181 7415326 4993855 7718481 4596594 3121887 144787352 OTHER SECURITIES 112793351 F 112793351 0 INTEREST RATE SWAP AGREEMENT 17603600 17603600 X 35293513 16666815 -17001760 -334945 35628458 1081730 1081730 36710188 36757879 36757879 1081730 10501760 11583490 48341369 USE OF ENDOWMENT FUNDS SCHEDULE D, PART V, LINE 4 THE SCHOOLS ENDOWMENT IS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING VARIOUS SUPPORT, DEPARTMENT CHAIR ENDOWMENTS, SCHOLARSHIP SUPPORT, AND CORE PROGRAMS. FIN 48 (ASC40) FOOTNOTE SCHEDULE D, PART X, LINE 2: THE SCHOOL IS AN EDUCATION ORGANIZATION FOR FEDERAL AND STATE INCOME, GIFT, ESTATE AND INHERITANCE PURPOSES AND HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS AN ORGANIZATION THAT IS EXEMPT FROM INCOME TAX PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND HAS ALSO BEEN RECOGNIZED BY THE FRANCHISE TAX BOARD AS AN ORGANIZATION THAT IS EXEMPT FROM INCOME AND FRANCHISE TAXES PURSUANT TO CALIFORNIA REVENUE AND TAXATION CODE SECTION 23701D, EXCEPT WITH RESPECT TO ANY UNRELATED BUSINESS INCOME. IN ADDITION, THE SCHOOL IS EXEMPT FROM CALIFORNIA PROPERTY TAXES ON ITS REAL AND PERSONAL PROPERTY USED FOR EDUCATIONAL PURPOSES. AS OF JUNE 30, 2017, THE SCHOOL HAS A TAX NET OPERATING LOSS CARRYOVER FROM UNRELATED BUSINESS ACTIVITIES OF $1,947,789 FOR FEDERAL PURPOSES AND $2,920,755 FOR CALIFORNIA PURPOSES. THE TAX NET OPERATING LOSS CARRYOVER WILL BEGIN TO EXPIRE JUNE 30, 2031 FOR FEDERAL PURPOSES AND JUNE 30, 2029 FOR CALIFORNIA PURPOSES. IN JULY 2006, FASB ISSUED ASC TOPIC NO. 740, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES (ASC 740), WHICH REQUIRES ENTITIES TO DETERMINE WHETHER IT IS "MORE LIKELY THAN NOT" THAT A TAX POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITIES. AN UNCERTAIN TAX POSITION WILL NOT BE RECOGNIZED IF IT HAS LESS THAN A 50% LIKELIHOOD OF BEING SUSTAINED. THE SCHOOL ADOPTED THE PROVISIONS OF ASC 740 ON JULY 1, 2007. ADOPTION OF THIS PROVISION DID NOT HAVE AN IMPACT ON THE SCHOOLS FINANCIAL STATEMENTS, AS MANAGEMENT BELIEVES THAT THERE ARE NO UNCERTAIN TAX POSITIONS WITHIN ITS CONSOLIDATED FINANCIAL STATEMENTS. THERE HAVE BEEN NO MATERIAL CHANGES IN UNRECOGNIZED BENEFITS AS OF THE YEAR ENDED JUNE 30, 2017 AND THE YEAR ENDED JUNE 30, 2016, NOR ARE ANY ANTICIPATED IN THE 12 MONTHS FOLLOWING JUNE 30, 2017. THERE HAVE BEEN NO RELATED TAX PENALTIES OR INTEREST, WHICH WOULD BE CLASSIFIED AS TAX EXPENSE IN THE STATEMENT OF ACTIVITIES. RECONCILIATION OF REVENUE TO AUDITED FINANCIAL STATEMENTS SCHEDULE D, PART XI, LINE 2D EXPENSES FROM RENTAL ACTIVITY, $(168,377), CAF EXPENSES $(1,743,847), DISTRIBUTION FROM COLBURN MUSIC FUND $(6,500,000), AND SCHOLARSHIPS $(8,589,536) NETTED WITH RESPECTIVE REVENUE, GAINS, AND OTHER SUPPORT LINE ITEM ON AUDITED FINANCIAL STATEMENTS, BUT REPORTED AS EXPENSES AND LOSSES ON RETURN. RECONCILIATION OF EXPENSES PER AUDITED FINANCIAL STATEMENTS SCHEDULE D, PART XII, LINE 4B EXPENSES FROM RENTAL ACTIVITY $(168,377), CAF EXPENSES $(1,743,847), AND SCHOLARSHIPS $(8,589,536) NETTED WITH RESPECTIVE REVENUE, GAINS, AND OTHER SUPPORT LINE ITEM ON AUDITED FINANCIAL STATEMENTS, BUT REPORTED AS EXPENSES AND LOSSES ON RETURN. true true true true true true true false false false false false false false false false false true RACIALLY NONDISCRIMINATORY POLICY 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 Investments 23735639 23735639 23735639 true false true true true false X X X X X X true Feldsteinco LLC 400 N Michigan Avenue Ste 1650 Chicago IL 60611 Consultant false 72000 -72000 72000 -72000 CA Annual Gala 1260008 1191208 68800 94409 229632 Taste of Colbur 208647 184872 23775 12311 57670 0 1468655 1376080 92575 106720 287302 394022 -301447 true Conservatory Scholarship 114 7431285 CSPA Scholarship 346 604554 Academy Scholarship 33 235583 Community Engagement 16 318115 PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS IN THE U.S. SCHEDULE I, PART I, LINE 2 FINANCIAL AID/GRANTS ARE AWARDED BASED ON 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 true true X X X X X X false false false false false false false false false Sel Kardan PRESIDENT & CEO 414666 0 75000 0 8826 0 47238 0 32132 0 577862 0 0 0 Seth Weintraub CFO/CAO/TREASURER 242832 0 9621 0 3128 0 17005 0 2178 0 274764 0 0 0 Linda Cormier VP HR/BOD SECRETARY 158366 0 6402 0 3200 0 11315 0 2587 0 181870 0 0 0 Edward Horner SR VP ADVANCEMENT as of 1/2016 243098 0 0 0 30287 0 17420 0 17412 0 308217 0 0 0 Adrian Daly PROVOST as of 07/2015 236536 0 0 0 11242 0 17675 0 18911 0 284364 0 0 0 Robert Lipsett PROFESSOR 350325 0 0 0 756 0 18728 0 8748 0 378557 0 0 0 Fabio Bidini PROFESSOR 303216 0 0 0 810 0 21158 0 8928 0 334112 0 0 0 Richard Beene PROFESSOR 188729 0 0 0 50665 0 13409 0 8748 0 261551 0 0 0 Ronald Leonard PROFESSOR as of 06/2015 227965 0 0 0 297 0 15799 0 1983 0 246044 0 0 0 Clive Greensmith PROFESSOR 225312 0 0 0 856 0 16083 0 16813 0 259064 0 0 0 DISCRETIONARY SPENDING ACCOUNT SCHEDULE J, PART I, LINE 1A: A DISCRETIONARY SPENDING ACCOUNT IN THE FORM OF AN AUTO ALLOWANCE IS PROVIDED TO THE PRESIDENT & CEO ONLY. THE PAYMENTS ARE REPORTED ON HIS FORM W-2 AS TAXABLE COMPENSATION. SUBSTANTIATION PRIOR TO REIMBURSING OR ALLOWING EXPENSES INCURRED SCHEDULE J, PART I, LINE 2: EXPENSE REIMBURSEMENT FOLLOWS IRS GUIDELINES FOR AN ACCOUNTABLE PLAN; REQUIRING AUTHORIZATION, AUTHENTICATION OF BUSINESS PURPOSE AND SUBSTANTIATION WITH RECEIPTS. THE AUTO ALLOWANCE FOR THE PRESIDENT & CEO DOES NOT FALL UNDER OUR ACCOUNTABLE PLAN, AND IS, THEREFORE, TAXED TO THE PRESIDENT & CEO. SEVERANCE ARRANGEMENTS SCHEDULE J, PART I, LINE 4A: THE PRESIDENT & CEO HAS A SEVERANCE PROVISION AS PART OF HIS EMPLOYMENT CONTRACT. EXCEPT IN SITUATIONS WHERE THE EMPLOYMENT OF THE PRESIDENT & CEO IS TERMINATED FOR CAUSE, BY DEATH OR BY DISABILITY, IN THE EVENT THAT THE SCHOOL TERMINATES HIS EMPLOYMENT AT ANY TIME, THE PRESIDENT & CEO WILL BE ELIGIBLE TO RECEIVE AN AMOUNT EQUAL TO TWELVE MONTHS OF THE THEN-CURRENT BASE SALARY IN THE FORM OF SALARY CONTINUATION, AND CONTINUATION OF BENEFITS FOR TWELVE MONTHS. SUCH SEVERANCE SHALL BE REDUCED BY ANY REMUNERATION PAID TO OR BENEFITS PROVIDED TO THE PRESIDENT & CEO BECAUSE OF HIS/HER EMPLOYMENT OR SELF-EMPLOYMENT DURING THE SEVERANCE PERIOD. A CIEDB SERIES 2015A 630304653 13034AFN5 2015-05-01 66060000 REFUNDING OF SERIES 2008 BONDS false false false B CIEDB Series 2015B 630304653 13034AFPO 2015-05-01 64925000 REFUNDING OF SERIES 2011 BONDS false false false A 0 0 66060000 0 0 0 488124 0 0 0 65571876 0 2015 true false true true B 0 0 64925000 0 0 0 479738 0 0 0 64445262 0 2015 true false true true A false true true true false 0.01730 0.01730 false false false true B false true true true false 0.01760 0.01760 false false false true A false false true false true false 0 false 0 false true B false false true false true false 0 false 0 false true A true B true SCHEDULE K, PART I, COLUMN F The 2015 Series A and B bonds (issued on May 27, 2015) were used to redeem both the Series 2008 bonds (issued on December 9, 2008) as well as the Series 2011 bonds (which were originally issued to redeem Series 2006 bonds issued on November 30, 2006). SCHEDULE K, 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 7 66367 FMV 0 false true false SCHEDULE M, PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED IN COLUMN (B). RELATIONSHIP AMONG BOARD MEMBERS, OFFICER, AND KEY EMPLOYEES FORM 990, PART VI, SECTION A, LINE 2 BOARD MEMBER CATHERINE COLBURN HOGEL IS THE DAUGHTER OF BOARD CHAIRPESON EMERITUS CAROL COLBURN GRIGOR. BOARD MEMBERS RICHARD W. COLBURN AND DAVID D. COLBURN ARE BROTHERS OF CAROL COLBURN GRIGOR AND ARE ALSO UNCLES OF CATHERINE COLBURN HOGEL. SIGNIFICANT BYLAW CHANGES FORM 990, PART VI, SECTION A, LINE 4 EFFECTIVE JANUARY 23, 2017, THE COLBURN SCHOOL CHANGED ITS BYLAWS TO INCLUDE THE POSITION AND TITLE OF "ARTISTIC ADVISOR" TO THEIR BOARD. THIS INDIVIDUAL IS TO BE A PERSON OF THE MUSIC AND ARTS COMMUNITY, BUT DOES NOT HAVE ANY RIGHTS INCIDENT TO DIRECTORS. FORM 990 REVIEW PROCESS FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS COMPLETED ANNUALLY AND REVIEWED BY THE CFO/CAO WITH THE PRESIDENT & CEO AND THE AUDIT COMMITTEE. ONCE THE CFO/CAO, 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. THE AUDIT COMMITTEE REVIEWS THE 990 WITH THE GOVERNING BOARD. ONCE THE 990 IS CONSIDERED FINAL, THE CFO/CAO WILL SIGN THE RETURN, OR THE AUTHORIZATION FORM FOR ELECTRONIC FILING, AND SUBMIT BY THE FILING DEADLINE. WRITTEN CONFLICT OF INTEREST POLICY 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. DETERMINATION OF COMPENSATION FORM 990, PART VI, SECTION B, LINE 15A AND 15B 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 990S 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. DISCLOSURE OF ORGANIZATIONAL DOCUMENTS TO THE PUBLIC FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY OF THE SCHOOL, SUBJECT TO THE FEDERAL OR CALIFORNIA STATE PUBLIC DISCLOSURE RULES, ARE MADE PUBLICLY AVAILABLE AS THE APPLICABLE LAW MAY REQUIRE. OTHERWISE, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE PROVIDED TO THE PUBLIC AT THE DISCRETION OF MANAGEMENT. THE FINANCIAL STATEMENTS AND FORM 990 OF THE SCHOOL ARE PUBLICLY AVAILABLE AS REQUIRED BY FEDERAL AND STATE PUBLIC DISCLOSURE RULES. THE SCHOOL'S WEBSITE CONTAINS A STATEMENT TO THIS EFFECT AND INVITES THE PUBLIC TO CONTACT THE SCHOOL IF THEY WISH TO HAVE THIS INFORMATION. UPON RECEIPT OF AN EMAIL, REGULAR MAIL OR TELEPHONE INQUIRY, THE SCHOOL SENDS THE REQUESTED INFORMATION AS REQUIRED. RECONCILIATION OF NET ASSETS FORM 990, PART XI, LINE 9 UNREALIZED GAIN ON INTEREST RATE SWAP RELATED TO BONDS: $ 7,217,620 WFBI LLC 200 S Grand Avenue Los Angeles CA 90012 812750603 Real Property DE 791555 32998916 COLB SCHOOL Colburn Music Fund 1000 Wilshire Blvd Suite 555 Los Angeles CA 90017 954804766 Private Fdn CA 501(c)(3) 08 Colburn Schl false Colburn Foundation 6311 Romaine St Suite 7138 Los Angeles CA 90038 954693145 Private Fdn CA 501(c)(3) 08 Colburn Schl false false false true false false false false false false false false false false false false false false false false