2017-10-30T15:53:18-05:00 2017-06-30 042571780 ALEXANDER ARONSON FINNING & CO PC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2016-07-01 042469627 BOSTON LYRIC OPERA COMPANY BOST 6175424912 11 AVENUE DE LAFAYETTE BOSTON MA 021111736 ESTHER NELSON GENERAL AND ARTISTIC DIRECTOR 6175424912 2017-10-30 1 THOMAS F MULDOON CPA P01561688 5083669100 2017-10-26 64.238.141.162 2017-10-30 16:16:26 ED P C3B1CA5E9EDD1B55B0F6E2DA0EC022650C85F82C 0CCF3F9ED5B5EB81A7E8DE9351DCD6BA8769B338 2016 2018-03-14 21:41:22Z ESTHER NELSON 11 AVENUE DE LAFAYETTE BOSTON MA 02111 9438508 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. 30 29 361 53 0 0 4535205 5285936 1338609 1700005 608560 566812 -171495 -77632 6310879 7475121 0 0 0 0 3473757 4015271 0 0 885439 4563631 4591471 8037388 8606742 -1726509 -1131621 19453243 18773947 1852493 1521919 17600750 17252028 X 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. 0 0 6650723 1780237 CORE OPERA PRODUCTIONSBOSTON LYRIC OPERA COMPANY (BLO)IS A MASSACHUSETTS NONPROFIT INSTITUTION INCORPORATED IN 1976. NOW IN ITS 41ST SEASON, 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, EVENTS, AND 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 GENERATION TO COME. BLO REACHES ANNUAL AUDIENCES OF NEARLY 35,000 PEOPLE THROUGH THE STAGING OF FOUR PRODUCTIONS AND COMMUNITY OUTREACH PROGRAMS EACH SEASON. IN FISCAL YEAR 2017, BLO STAGED ITS FOUR PRODUCTIONS AT THE BOSTON OPERA HOUSE, THE EMERSON/CUTLER MAJESTIC AND EMERSON/PARAMOUNT THEATERS, AND THE JOHN HANCOCK HALL AT THE BACK BAY EVENTS CENTER. 270716 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. 6921439 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 1 152 0 1 361 1 0 0 0 0 0 1 1 0 0 0 0 X 30 29 1 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 11 AVENUE DE LAFAYETTE BOSTON MA 021111736 ESTHER NELSON GENERAL & ARTISTIC DIRECTO 40.00 X X 202856 0 6873 MICHAEL J PUZO CHAIR 5.00 X X 0 0 0 SUSAN W JACOBS CLERK 1.00 X X 0 0 0 WAYNE DAVIS TREASURER & VICE CHAIR 1.00 X X 0 0 0 WILLA BODMAN DIRECTOR 1.00 X 0 0 0 LINDA CABOT BLACK DIRECTOR 1.00 X 0 0 0 MIGUEL DE BRAGANCA 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 THOMAS D GILL JR DIRECTOR 1.00 X 0 0 0 BARBARA WINTER GLAUBER DIRECTOR-LEFT DURING 2017 1.00 X 0 0 0 MIMI HEWLETT DIRECTOR 1.00 X 0 0 0 HORACE H IRVINE II 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 DR IRVING H PLOTKIN 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 DAVID SHUKIS DIRECTOR-LEFT DURING 2017 1.00 X 0 0 0 RAY STATA DIRECTOR 1.00 X 0 0 0 WYNNE SZETO DIRECTOR 1.00 X 0 0 0 CHRISTOPHER TADGELL DIRECTOR 1.00 X 0 0 0 LADY JULIET TADGELL DIRECTOR 1.00 X 0 0 0 SUSAN D EASTMAN DIRECTOR-LEFT DURING 2017 1.00 X 0 0 0 STEPHEN T KUNIAN DIRECTOR-LEFT DURING 2017 1.00 X 0 0 0 RUSTY ROLLAND DIRECTOR-LEFT DURING 2017 1.00 X 0 0 0 FRANK WISNESKI DIRECTOR-LEFT DURING 2017 1.00 X 0 0 0 KAREN FROST DIRECTOR OF FINANCE AND AD 40.00 X 110698 0 6941 EILEEN WILLISTON DIRECTOR OF DEVELOPMENT 40.00 X 115755 0 5025 429309 0 18839 3 0 1 0 0 313735 48300 4923901 567009 5285936 TICKET SALES 900099 1700005 1700005 1700005 395682 395682 1903693 1730000 2563 173693 -2563 171130 171130 72960 313735 230824 -157864 -157864 OTHER INCOME 900099 80232 80232 80232 7475121 1780237 0 408948 X 338200 108437 229763 3132264 2371234 218240 542790 13976 8266 974 4736 276392 220048 30680 25664 254439 178966 35772 39701 4250 4250 26581 26581 74682 74682 1017501 978308 13297 25896 234650 225350 9300 19339 11428 3945 3966 175313 138975 16878 19460 143359 80175 31582 31602 55823 45508 2810 7505 106346 16284 12613 77449 39784 22102 8841 8841 41748 16260 18825 6663 43370 32252 5559 5559 PRODUCTION 2077402 2073807 1050 2545 PRINTING AND PUBLICATIO 160483 137614 29 22840 OUTSIDE SERVICES 96796 93342 1727 1727 BANK CHARGES 68703 40642 26589 1472 205341 118191 39427 47723 8606742 6921439 799864 885439 681786 487529 517474 73730 5142108 3909738 29307 30000 362500 216008 389248 287600 73585 101648 12622483 13931294 24000 24000 19453243 18773947 267592 237062 813125 620143 750000 650000 21776 14714 1852493 1521919 X 730430 796171 2969573 2522954 13900747 13932903 17600750 17252028 19453243 18773947 -1131621 782899 0 X X 0 1 X 1 0 X 12549145 7869255 10015064 4535205 5285936 40254605 12549145 7869255 10015064 4535205 5285936 40254605 14442840 25811765 100009 192713 267053 380010 395682 1335467 142764 254326 257226 112723 80232 847271 42437343 7653863 0.60820 0.62040 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14493829 32156 1271608 -570000 15227593 14383203 28525 612101 -530000 14493829 9593962 5164724 154517 -530000 14383203 7707679 1846091 827723 -787531 9593962 1260797 6281182 319700 -154000 7707679 0.91000 0.09000 0 0 118553 53659 64894 270695 233941 36754 101648 DEFERRED RENT 14714 14714 X 8542405 782899 128243 230824 1141966 7400439 74682 74682 7475121 8891127 128243 230824 359067 8532060 74682 74682 8606742 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, 2017 AND 2016. 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 990 230,824. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT SPECIAL EVENTS EXPENSE NETTED WITH REVENUES ON 990 230,824. 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 FINANCE 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 GALA 332384 273735 58649 128887 30008 44641 SIGNATURE SERIES 43866 40000 3866 4510 12917 3817 3 10445 10445 6044 386695 313735 72960 139441 42925 48458 230824 -157864 X X X X X 0 0 0 0 0 0 0 0 0 ESTHER NELSON GENERAL & ARTISTIC DIRECTO 202856 0 0 0 0 0 2000 0 4873 0 209729 0 0 0 X 10 567009 SELLING PRICE 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 DIRECTORS CHRISTOPHER TADGELL AND LADY JULIET TADGELL HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B FINAL APPROVAL OF THE ANNUAL AUDITED FINANCIAL REPORT AND CORPORATE TAX RETURNS IS VESTED WITH THE EXECUTIVE COMMITTEE UPON RECOMMENDATION OF THE FINANCE COMMITTEE, PROVIDING A BOARD COMMENT PERIOD. 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 DOES NOT MAKE ITS GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. THE FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC ON CHARITY NAVIGATOR, GUIDESTAR AND THROUGH THE CULTURAL DATA PROJECT (CDP). FORM 990, PART IX, LINE 11G OTHER CONSULTANTS: PROGRAM SERVICE EXPENSES 978,308. MANAGEMENT AND GENERAL EXPENSES 13,297. FUNDRAISING EXPENSES 25,896. TOTAL EXPENSES 1,017,501. FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE EITHER THE AUDIT OVERSIGHT PROCESS OR AUDITOR SELECTION PROCESS DURING THE TAX YEAR.