2017-07-05T12:00:59-07:00 2016-08-31 990 2015-09-01 042103550 BOSTON SYMPHONY ORCHESTRA INC BOST 6172661492 301 Massachusetts Avenue Boston MA 02115 Thomas D May Chief Financial Officer 6172661492 2017-07-03 2015 2021-01-29 14:40:06Z Mark Volpe 301 Massachusetts Avenue Boston MA 02115 225146632 0 X www.bso.org X 1918 MA The mission of the Boston Symphony Orchestra (BSO) is to foster and maintain an organization dedicated to the making of music consonant with the highest aspirations of the musical art, creating performances and providing educational and training programs at the highest level of excellence. 35 34 1249 1320 1780449 590247 41549636 32924905 37298148 41425137 23277983 5454816 4681562 4933932 106807329 84738790 0 0 0 0 48735643 53598362 0 0 8607345 42585408 45737799 91321051 99336161 15486278 -14597371 558346417 558309675 83071196 99319054 475275221 458990621 The mission of the Boston Symphony Orchestra (BSO) is to foster and maintain an organization dedicated to the making of music consonant with the highest aspirations of the musical art, creating performances and providing educational and training programs at the highest level of excellence. 0 0 68815399 39880928 Orchestra Music Programs: Through three distinct components-the Boston Symphony, the Boston Pops, and Tanglewood-the BSO offers some 320 concerts each year and reaches more than 1.2 million audience members. Internationally recognized as one of the finest orchestras, the BSO is also one of the world's largest orchestras as measured by scope of operations and the fourth-largest performing arts institution in the U.S. The 2015-2016 season began auspiciously with Music Director Andris Nelsons' signature on an extended contract through the 2021-2022 season, and his deepened connection to the orchestra developed and resonated throughout the year. Under Nelsons' direction, nearly 220,500 Winter Season tickets were distributed for 108 concerts, including BSO subscription season concerts, Open Rehearsals, BSO Chamber Players concerts, and concerts on tour in Europe and at Carnegie Hall in New York. Close to 194,000 Boston Pops tickets were sold for 86 concerts, including Holiday Pops, Spring Pops, Runout, Tours, and Special Productions. Notably, Spring Pops recorded a 24% increase in ticket sales over the previous season. In a year of record attendance, nearly 357, 000 tickets were distributed across all Tanglewood concerts, including BSO, Pops, Popular Artist, Tanglewood Music Center, Open Rehearsals, recitals, and visiting orchestras. The BSO received a 2016 Grammy Award (best orchestral performance) for its recording of Shostakovich's Symphony No. 10 and the Passacaglia from his opera "Lady Macbeth of Mtsensk." A highlight of the season's programming was the BSO's three-week festival devoted to works inspired by Shakespeare, marking the 400th anniversary of the author's death. Also notable, in late May, the BSO completed its second European tour under Nelsons' direction, solidifying the organization's renewed commitment to international performance. 5173893 500937 Education: Education and community programs are integral to the BSO's mission and are delivered via two avenues: 1) The Tanglewood Music Center (TMC), BSO's summer academy for rising professional musicians; and 2) Education and Community Engagement Department programs for individuals of all backgrounds. The TMC serves as a bridge from the conservatory to the professional world, where promising young musicians gain access to some of the world's finest professionals and are primed for successful performing careers. The TMC also functions as a think tank for faculty, who are encouraged to explore uncharted directions in composition, conducting, and collaboration in order to advance and influence the field. The principal areas of study and performance at the TMC are orchestral and chamber music, with an emphasis on contemporary music, vocal repertoire from art song to opera, composition, and conducting. Last summer, the TMC provided 150 of the world's most promising young musicians (representing 39 states and 17 countries) the opportunity to engage in intensive, performance-oriented work with BSO musicians, resident and guest faculty members, and visiting guest artists. TMC students presented 26 concerts of orchestral, vocal, and chamber works throughout the summer. Education and community engagement programs reached more than 34,000 students, teachers, and families, many of whom come from low-income communities in the Greater Boston area. Highlights include: 1) Youth and Family Concerts: more than 24,000 tickets distributed for 15 concerts (including Open Rehearsals, Tanglewood Family Concert, and BYSO concerts). Youth and Family Concerts explored the theme "Sound Decisions: A Musical Look at Choice, Chance, and Application" and offered young audience members and their families unique access to the full BSO and to Symphony Hall. 2,000 Boston Public School students received free tickets to Youth Concerts, and all children under the age of 18 attended Family Concerts for free. 2) Community Chamber Concerts: approximately 3,900 in attendance. BSO musicians performed free concerts led post-concert discussions in 11 different communities limited in access by distance or economics. 3) Symphony for Our City: 10 human services organizations engaged, 443 concert tickets distributed. Participants from organizations such as Project STEP and the Somerville Council on Aging/Teen Empowerment attended Boston Symphony, Boston Pops, and Tanglewood performances, plus pre-concert educational and networking activities. 4) Days in the Arts (DARTS): 398 students reached. Thanks to generous tuition subsidies, students from urban, suburban, and rural communities gained a confidence-building introduction to the arts and inclusion in a diverse, supportive community. 1415835 1701937 Historic Preservation and Conservation and Facility Rental: The BSO's two main properties, Symphony Hall and Tanglewood, carry historical significance and represent popular sites supporting the Massachusetts tourist industry. Symphony Hall's acoustic qualities have earned it a place among the top three concert auditoriums in the world, a fact underscored by the hall's 1999 designation as a National Historic Landmark. Symphony Hall resonates with more than a century of performances by key artists spanning the history of classical music. In addition to BSO performances, the hall functions as a key performance venue for a number of local, national, and international ensembles and presenters, including the Handel & Haydn Society, the Celebrity Series of Boston, and the Boston Youth Symphony Orchestras. The hall has a 2625 seat capacity. Located in the Berkshire hills of Lenox, Massachusetts and established in 1936 by then-Music Director Serge Koussevitzky, Tanglewood is the summer performance home of the BSO. Tanglewood annually attracts more than 300,000 visitors and presents ten weeks of diverse programming, including concerts from the BSO, the Tanglewood Music Center, and the Pops. Tanglewood spans more than 500 acres and remains open to the public year-round, much like a state park. 23 buildings reside on the grounds, including two performance venues: the Koussevitzky Music Shed and Seiji Ozawa Concert Hall. Built in 1938, the Koussevitzky Music Shed is a seasonal hall open on three sides with 5,121 seats and additional seating for more than 10,000 on the adjacent lawn. All BSO and visiting orchestra concerts are performed in the shed. Opened in 1994, Seiji Ozawa Hall is a brick and wood structure that provides a venue for chamber music performances and serves as the headquarters of the Tanglewood Music Center. It seats up to 750 audience members on the orchestra level and an additional 450 in the two balconies, as well as hundreds more on the adjacent lawn. In 2016, Symphony Hall facilities projects included the installation of a rooftop lightning protection system, carpeting and painting work in Higginson Hall and the Miller Room, finishing renovations to the recording studio, and LED lighting upgrades. In December 2015, following initial discussions for a major renovation and possible expansion of patron spaces at Symphony Hall, BSO leadership engaged Savira Capital and Cultural Projects to undertake an integrated planning process for the future use and development of the hall. Spaces considered as part of the planning process include the envelope of Symphony Hall's main auditorium, including all current patron spaces, as well as the entire Cohen Wing complex adjacent to the hall. Evaluation and planning continued throughout the fiscal year. At Tanglewood, facilities work centered on repairs and upgrades designed to maintain the Koussevitsky Music Shed's operational integrity, enhance patron access, and improve safety, with the emphasis placed on fire prevention and pedestrian safety. Project tasks included internal and external repairs and upgrades to the Shed, water line replacement, pedestrian pathway re-grading, parking lot expansion and paving, lightning protection, restroom facility development, and water line replacement. 747635 363195 Electronic Media: The BSO delivers its music not only to its live and in-house audiences but also to the millions who tune in via record, radio broadcast, and digital media. Live local broadcasts of BSO concerts continued to be featured on 99.5 Classical New England (a subsidiary of public radio station WGBH), streamed live via the WGBH website, and a few days following, via the BSO Media Center at www.bso.org/media. Online engagement continued to broaden the BSO's reach worldwide, with 1.83 million unique users visiting the BSO's website. BSO Media Center content was widely accessed as well: users streamed 70,000 podcasts and 25,000 concert recordings. The BSO's social media following continues to grow; as of September 2016, Facebook followers totaled more than 200,000 (183,213 for BSO and 21,187 for Pops) and Twitter followers totaled more than 55,000 (50,700 for BSO and 5,412 for Pops). HENRY, the BSO's performance history search module, continued to expand its capacity, with an increasing number of program book records available for download. More than 14,000 searches were performed, with approximately 5,500 program book downloads. 102795 140768 Merchandise Sales: The Boston Symphony operates retail shops at both Symphony Hall and Tanglewood. These shops sell recordings of the BSO and other featured performers, books, music, posters and clothing and other items that serve to promote and disseminate the name and music of the Boston Symphony, Boston Pops and Tanglewood. 850430 0 503963 76255557 1 1 0 1 0 0 0 0 0 1 1 1 0 1 1 1 0 1 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 1 0 0 0 1 1 0 0 0 0 1 1 1 0 0 1 453 0 1 1249 1 1 1 0 0 0 0 1 1 1 1 0 0 0 X 35 34 1 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 1 0 CA MA NJ NY X Thomas D May 6172661492 301 Massachusetts Ave Boston MA 021154557 X William F Achtmeyer Chair 2 X X 0 0 0 David Altshuler Trustee 2 X 0 0 0 George D Behrakis Vice-Chair 2 X X 0 0 0 Paul Buttenwieser President 2 X X 0 0 0 Ronald G Casty Trustee 2 X 0 0 0 Susan Bredhoff Cohen Trustee 2 X 0 0 0 Richard F Connolly Jr Trustee 2 X 0 0 0 Cynthia Curme Vice-Chair 2 X X 0 0 0 Alan J Dworsky Trustee 2 X 0 0 0 William R Elfers Trustee 2 X 0 0 0 Thomas E Faust Jr Trustee 2 X 0 0 0 Michael Gordon Trustee 2 X 0 0 0 Brent L Henry Trustee 2 X 0 0 0 Susan Hockfield Trustee 2 X 0 0 0 Barbara W Hostetter Trustee 2 X 0 0 0 Stephen Kay Trustee 2 X 0 0 0 Edmund Kelly Trustee 2 X 0 0 0 Joyce G Linde Trustee 2 X 0 0 0 John M Loder Trustee 2 X 0 0 0 Nancy K Lubin Trustee 2 X 0 0 0 Joshua A Lutzker Trustee 2 X 0 0 0 Carmine A Martignetti Vice-Chair 2 X X 0 0 0 Robert J Mayer MD Trustee 2 X 0 0 0 Susan W Paine Trustee 2 X 0 0 0 John Reed Trustee 2 X 0 0 0 Carol Reich Trustee 2 X 0 0 0 Arthur I Segel Trustee 2 X 0 0 0 Roger T Servison Trustee 2 X 0 0 0 Wendy Shattuck Trustee 2 X 0 0 0 Theresa M Stone Treasurer 2 X X 0 0 0 Caroline Taylor Trustee 2 X 0 0 0 Stephen R Weber Trustee 2 X 0 0 0 Roberta S Weiner Trustee 2 X 0 0 0 Robert C Winters Trustee 2 X 0 0 0 D Brooks Zug Trustee 2 X 0 0 0 Mark Volpe Managing Director 50 1 X 770527 0 61201 Thomas D May Chief Financial Officer 50 1 X 261678 0 38039 Bart Reidy Clerk of the Board 50 X 215860 0 50481 Kim Noltemy Chief Operating and Communications Officer 50 X 252768 0 57696 Malcolm Lowe Concertmaster 40 X 415402 0 34125 John A Ferrillo Jr Principal Oboe 40 X 286621 0 60891 Thomas C Rolfs Jr Principal Trumpet 40 X 279073 0 63124 Steven Ansell Principal Viola 40 X 264251 0 56089 Timothy Genis Timpanist 40 X 255324 0 23750 3001504 0 445396 138 0 1 0 David J Tierney Jr Inc 169 Gale Avenue Pittsfield MA 01201 Construction Contractor 1391786 Andris Nelsons Konzertdirektion Schmid 40 St Martins Lane London, UK UK WC2N 4ER Services of A. Nelsons 1301000 Isole Inc 252 Kent Street Brookline MA 02446 Services of K. Lockhart 788958 Great River Construction Co PO Box 401 Great Barrington MA 01230 Construction Contractor 783885 Travtours Inc 72-171 Hwy 111 Suite 202 Palm Desert CA 92160 Tour Operator 731901 18 0 0 3306009 0 520198 29098698 4151523 32924905 Concerts & tours 900099 39880928 39880928 0 0 Program advertising 511190 658339 0 658339 0 Education 900099 500937 500937 0 0 Electronic media 900099 363195 363195 0 0 Parking 900099 21738 0 0 21738 0 0 0 0 41425137 2029816 0 0 2029816 0 0 0 0 0 0 0 0 4490758 0 1461545 0 3029213 0 3029213 1701937 0 1327276 140609160 0 137184160 0 3425000 0 3425000 0 717410 2707590 282751 3306009 1158244 -875493 0 -875493 1149361 603893 545468 140768 404700 0 Food and beverage 900099 2234744 0 0 2234744 0 0 0 0 2234744 84738790 42587765 1780449 7445671 X 1853914 1351280 502634 38059505 29062231 5785789 3211485 5465185 3814459 1169223 481503 5524040 3315994 1564287 643759 2695718 1541499 819653 334566 75000 75000 187963 187963 128140 128140 56357 56357 1771000 1771000 15652151 15018276 626579 7296 3284304 2879322 122345 282637 2341139 1626574 198851 515714 1415610 337623 699736 378251 34680 34680 3100896 2418699 434125 248072 7013814 6505808 301925 206081 815797 308954 88711 418132 118751 109867 4314 4570 5326463 4031252 792170 503041 205528 9746 195782 Concert production expenses 1300530 1298144 2386 Credit card fees 778833 704097 0 74736 2130843 1392332 738511 99336161 76255557 14473259 8607345 8353362 11258433 5851572 7222568 26164339 24918453 2807653 1932247 42144 27814 547372 480496 3299472 2805034 134761159 81176740 51929082 53584419 78814082 68578142 344860891 350822612 35676448 36679457 558346417 558309675 10225173 10431414 10767007 10616592 10000000 10000000 52079016 68271048 83071196 99319054 X 62526357 44513076 205145770 203299391 207603094 211178154 475275221 458990621 558346417 558309675 X -14597371 13059794 0 0 0 -14747023 X 0 1 X 1 0 X 34676732 35806641 29175439 41549636 32924905 174133353 0 0 0 0 0 0 0 0 0 0 34676732 35806641 29175439 41549636 32924905 174133353 12622957 161510396 2563448 3046527 4407284 4575437 4818637 19411333 199946 595756 1043977 590247 2429926 0 0 0 0 0 0 195974612 193362892 0.82414 0.82007 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 56357 0 0 56357 0 Schedule C, Part II-B, Line 1 The lobbying activities of the BSO address issues such as state funding and proposed legislation related to historic preservation, tourism, transportation, and education all in the context of the arts and not-for-profit organizations. A small allocation of the salary of one employee who engages in lobbying activities on the issues noted above is included in the amount reported. 450319000 7724000 18448000 0 30112000 0 446379000 474899000 8892000 -13587000 0 19885000 0 450319000 421650000 18200000 59358000 0 24309000 0 474899000 379963000 21780000 36543000 0 16636000 0 421650000 387370000 8067000 7551000 0 23025000 0 379963000 0.1432 0.4513 0.4055 1 1 1 0 6749799 6749799 0 83430093 51334353 32095740 0 0 0 0 0 35343982 24704682 10639300 0 9237285 5137705 4099580 53584419 Marketable Alternatives (equity LPs) 285969382 F Illiquid Equities (private equity LPs) 18410474 F Real Assets 17127300 F Real Estate 12820884 F Commingled Funds 8349198 F Investment in 263 HA Limited Partnership 8145374 F 350822612 Assets Held by Others 26978099 Assets of Split Interest Agreements 9701358 36679457 Accrued Liability for Pension & Post Retirement 68271048 68271048 X 98697399 13059794 706325 0 1359597 15125716 83571683 1771000 -603893 1167107 84738790 98875379 706325 0 0 603893 1310218 97565161 1771000 0 1771000 99336161 Schedule D, Part V, Line 4 The purpose of the endowment is to provide enduring support for the mission of the Orchestra by releasing a substantial and reliable flow of funds to the operating budget. The income earned on the Orchestra's endowment assets may be used for general or donor-restricted purposes and is recorded in unrestricted net assets or temporarily restricted net assets, as appropriate. Schedule D, Part VI, Line 1e Other includes land improvements and related depreciation and construction in progress. Schedule D, Part VII, Line 3 The investment in 263 HA Limited Partnership is valued at net cost plus accumulated earnings reduced by distributions to the BSO. Schedule D, Part X, Line 2 The Orchestra accounts for the effect of any uncertain tax positions based on a "more likely than not" threshold to the recognition of the tax positions being sustained based on the technical merits of the position under scrutiny by the applicable taxing authority. If a tax position or positions are deemed to result in uncertainties of those positions, the unrecognized tax benefit is estimated based on a "cumulative probability assessment" that aggregates the estimated tax liability for all uncertain tax positions. The Orchestra has identified its tax status as a tax exempt entity and its determinations relative to income that is considered related and unrelated as its only significant tax positions; however, the Orchestra has determined that such tax positions do not result in an uncertainty requiring recognition. The Orchestra is not currently under examination by any taxing jurisdiction. Its Federal and state income tax returns are generally open for examination for the past three years following the date filed by the appropriate tax authorities. Schedule D, Part XI, Line 2d Change in value of split interest agreements. Schedule D, Part XI, Line 4b Cost of goods sold. Schedule D, Part XII, Line 2d Cost of goods sold. Central America and the Caribbean 0 0 Investments 78729839 Europe (including Iceland and Greenland) 0 0 Program Services Concert Tour 3852334 0 0 82582173 1 0 1 1 1 0 Opening Gala 1389851 1294843 95008 0 0 0 66795 21566 157107 Corporate Event 1135740 1050170 85570 0 0 0 80636 119355 93027 4 1063169 960996 102173 0 0 0 168148 57860 393750 3588760 3306009 282751 0 0 0 315579 198781 643884 1158244 -875493 X X X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 Mark Volpe Managing Director 515966 0 0 0 254562 0 31312 0 29888 0 831728 0 Thomas D May Chief Financial Officer 260372 0 0 0 1306 0 7921 0 30118 0 299717 0 Bart Reidy Clerk of the Board 215662 0 0 0 198 0 22144 0 28337 0 266341 0 Kim Noltemy Chief Operating and Communications Officer 252399 0 0 0 369 0 24633 0 33063 0 310464 0 Malcolm Lowe Concertmaster 390969 0 0 0 24433 0 0 0 34125 0 449527 0 John A Ferrillo Jr Principal Oboe 280484 0 0 0 6137 0 30818 0 30073 0 347512 0 Thomas C Rolfs Jr Principal Trumpet 245386 0 0 0 33687 0 29604 0 33520 0 342197 0 Steven Ansell Principal Viola 244432 0 0 0 19819 0 26016 0 30073 0 320340 0 Timothy Genis Timpanist 216594 0 0 0 38730 0 22881 0 869 0 279074 0 Schedule J, Part I, Line 1a ) In connection with the business needs of the Boston Symphony Orchestra, (BSO), charter travel is used when transporting large numbers of personnel in connection with the orchestra's touring. As a general rule, the BSO does not provide first class travel for employees. 2) In rare instances, the Managing Director's spouse may travel with him for donor cultivation and fund-raising purposes. Events attended are related to the business purposes of the Boston Symphony. Such travel is entered into and substantiated in accordance with the spousal travel policy adopted by the BSO. 3) Housing for Mark Volpe, Managing Director, is provided during the summer for the convenience of the BSO in connection with the Orchestra's activities away from Boston at Tanglewood, and is not considered taxable. Schedule J, Part I, Line 4 The compensation listed for Mark Volpe, Managing Director, for calendar year 2015 includes Base Compensation of $515,966. Other Reportable Compensation includes 1) taxable fringe in the amount of $10,550 mainly for life and disability insurance and for personal use of a vehicle provided by the BSO; 2) contributions of $18,000 made by Mr. Volpe into a 457(b) plan; and 3) a payment of $226,011 which represents the current year obligation related to a retirement compensation plan established for Mr. Volpe in fiscal 2007 in recognition of his 10 years of outstanding service to the BSO. As amended in 2013, the plan is designed to provide Mr. Volpe an annual retirement benefit at age 60 equal to approximately 50% of the average compensation earned during his last 5 years of employment. An irrevocable portion of this benefit is accrued and paid each year that he is employed. Mark Volpe Officer Mortgage X 200000 27814 0 1 1 27814 Tisbury Tours Co. owned by spouse of trustee 1154486 Engaged to perform concerts 0 Schedule L, Part II On September 12, 1997, a thirty-year, $200,000 loan was made to the Managing Director, Mark Volpe. This loan, which is secured by a mortgage on his principal residence , is payable in biweekly installments of principal and interest. During 2003, the loan was refinanced and the term was changed to fifteen years. The interest rate was determined using the IRS approved market rate in effect at the time of the inception and the refinancing of the loan. X 116 3767006 Fair Market Value X 1 100030 Fair Market Value X 1 192606 Fair Market Value X Flute 1 13920 Fair Market Value X Music Scores 1 30050 Fair Market Value X Furniture 4 12665 Fair Market Value X Hospitality goods 12 35246 Fair Market Value 1 1 1 0 Schedule M, Part I Column B responses represent the number of contributions. Schedule M, Part I, Line 30b Closely held stock Form 990, Part I, Line 6 Volunteers comprise the 750 members of the Boston Symphony Association of Volunteers (BSAV), who provide a variety of services both at Symphony Hall and Tanglewood. Also included as volunteers are the 315 members of the Tanglewood Festival Chorus (TFC), who donate their time and talent performing year-round with the Boston Symphony Orchestra and the Boston Pops Orchestra. Also included are 35 voting trustees and 220 non-voting members of the governing body. Form 990, Part VI, Section A, Line 2 Trustee Stephen Kay serves on the Board of the Dana-Farber Cancer Institute. The Dana-Farber Cancer Institute employs another trustee, Dr. Robert J. Mayer, MD. Form 990, Part VI, Section A, Line 8b In general, the Boston Symphony Orchestra (BSO) keeps minutes of all committees with authority to act on behalf of the boards. Form 990, Part VI, Section B, Line 11b The Form 990 is prepared by BSO management and reviewed by a paid preparer. The complete 990 is then reviewed by the Audit Committee of the Board of Trustees. The Audit Committee reviews each section and schedule of the 990, focusing on key changes and substantive disclosures. Subsequent to this review, a copy of the final draft 990, which is the version to be filed with the IRS, is placed in a password-protected website for all members of the Board of Trustees to review in advance of their next board meeting. All members of the Board of Trustees receive an email notifying them that the Form 990 is available for review on the site. The final 990 is signed by the Chief Financial Officer and the paid preparer. Form 990, Part VI, Section B, Line 12c The Boston Symphony Orchestra has a Conflict of Interest Policy that encompasses all employees and board members. The policy requires that Trustees, Officers, Overseers, Ex-Officio Board members, members of a committee with board-delegated powers, senior staff members or any person with substantial influence over the BSO to disclose the existence of any potential or actual conflicts of interest to the Board or to members of the Executive Committee. The Board or Executive Committee then discusses and votes in order to determine whether an actual conflict of interest exists. If a conflict exists, the Board or Executive Committee evaluates the particular transaction or arrangement to determine the most reasonable course of action. The individual who disclosed the conflict must leave the Board or Executive Committee meeting during the discussion of, and the vote on, the transaction or arrangement that results in the conflict of interest. Additionally, the policy also requires any staff member that has information about a possible conflict, to report the matter promptly to their supervisor, the Director of Human Resources or to the Chief Financial Officer. The Director of Human Resources and the Chief Financial Officer will review the circumstances of the possible conflict with other appropriate management to make a determination about the most reasonable course of action. A breach of the conflict of interest policy is grounds for disciplinary action, up to and including termination. Additionally, on an annual basis, all Trustees, Officers, Overseers, Ex-Officio Board members, members of a committee with board-delegated powers, senior staff members or any person with substantial influence over the BSO is provided with a copy of the policy and must sign a statement affirming that they have received, read and understand the policy; they must also affirm that they agree to comply with the policy. As part of this Annual Notice of Policy, each individual is also required to disclose any potential or actual conflicts of interest in writing. All responses indicating a potential or actual conflict are subject to review by the Board or the Executive Committee as described above. Form 990, Part VI, Section B, Line 15 The BSO has a designated Compensation Committee, comprised of trustees of the BSO, which sets the process for determining and approving compensation for officers and key employees. The Compensation Committee's process includes: (a) development and consideration of comparability data to provide a basis for the Committee's decisions and (b) consideration of the (i) applicable accounting and disclosure rules, (ii) emerging trends in corporate governance, and (iii) standards and guidelines promulgated by the Division of Public Charities of the Massachusetts office of the Attorney General (collectively, the "Compensation Process"). Deliberations of the Compensation Committee in connection with the Compensation Process are contemporaneously documented. When evaluating officers and key employees, the Compensation Committee carefully considers the following factors: (i) duties and responsibilities, (ii) background and experience, (iii) dedication, commitment and work schedule, (iv) leadership, management and professional skills, (v) overall performance and standing, (vi) the BSO's salary scale of employees generally, and (vii) the BSO's annual budget. The Compensation Committee's most recent review of officer and key employee compensation occurred in 2016. Form 990, Part VI, Section C, Line 19 The Boston Symphony Orchestra's audited financial statements, conflict of interest policy and other governing documents are available upon request. Form 990, Part VII, Section A, Line 1b Compensation reported is based on calendar 2015 amounts. Form 990, Part VII, Section B, Line 1(C) Compensation reported is based on calendar 2015 amounts. Form 990, Part IX, Line 11g Line 11 g comprises $13,649,355 of artistic and other concert related fees and $2,002,796 of security, medical, parking and other services. Form 990, Part XI, Line 9 Other changes in net assets or fund balances of ($14,747,023) comprise of change in value of split interest agreements of $1,359,597 and retirement plan-related charges other than net periodic benefit cost of ($16,106,620). 263 HA Limited Partnership 301 Massachusetts Avenue Boston MA 02115 Real Estate MA 263 Realty Corporation Excluded 1395440 8710351 0 0 0.99 263 Realty Corporation 301 Massachusetts Avenue Boston MA 02115 Real Estate MA Boston Symphony C 6185 43214 1 1 Trust 301 Massachusetts Avenue Boston MA 02115 Trust MA Boston Symphony Orchestra Inc T 1 0 0 0 0 0 0 0 1 0 0 1 0 0 1 1 0 0 0 1 263 HA Limited Partnership k 316380 Fair market value 263 HA Limited Partnership s 1259104 Actual partnership distribution