2016-03-09T10:39:53-00:00 2015-05-31 Mary Louise Curtis Bok Foundation 1726 Locust Street Philadelphia PA 19103 990 2014-06-01 231585611 Curtis Institute of Music CURT 2157173134 1726 Locust Street Philadelphia PA 19103 Joseph Slater Sr Dir of Finance 3102016 2157173134 2016-03-10 true Joseph M Slater 2157173134 2016-03-10 2014 2016-08-17 19:52:53Z Same Roberto Diaz 1726 Locust Street Philadelphia PA 19103 41551615 false X curtis.edu X 1924 PA The Curtis Institute of Music is a tuition free School of Music that strives to educate and train exceptionally gifted musicians for performing careers on the highest professional level. Attendance averages 169 students 52 48 478 25 0 17861856 18488053 2087258 2441794 6716916 5134740 -186262 -127198 26479768 25937389 855504 856746 0 8214994 9093510 0 1353173 9714467 10278591 18784965 20228847 7694803 5708542 242094914 247888201 10622827 10435184 231472087 237453017 The Curtis Institute of Music is a tuition free School of Music that strives to educate and train exceptionally gifted musicians for performing careers on the highest professional level. Attendance averages 169 students false false 14892818 2441794 The Curtis Institute of Music is a tuition free School of Music that strives to educate and train exceptionally gifted musicians for performing careers on the highest professional level. Attendance averages169 students. 14892818 true true false false false false false true false true true false false false true true true false true false false false false false true false false false true true false false false false false false false false true false false false false true false true false true 125 0 true 478 true true true false false false false true true false false false false X 52 48 false false false false false false false true true false false true true true true true true true true false PA X X Joseph M Slater 2157173134 1726 Locust Street Philadelphia PA 19103 Nina Baroness von Maltzahn Chair/Trustee 001.00 X X 0 0 0 Mr Edward A Montgomery Jr Vice Chairman/Trustee 001.00 X X 0 0 0 Mr Alan R Hirsig Secretary/Trustee 001.00 X X 0 0 0 Ms Deborah M Fretz Treasurer/Trustee 001.00 X X 0 0 0 Ms Nina Albert Trustee 001.00 X 0 0 0 Mr Frank S Bayley Trustee 001.00 X 0 0 0 Mr Peter A Benoliel Trustee Emeritus 001.00 X 0 0 0 Mrs Carey William Bok Honorary Trustee 001.00 000.50 X 0 0 0 Ms Victoria Bok Trustee 001.00 X 0 0 0 Mr Sheldon M Bonovitz Esquire Trustee 001.00 X 0 0 0 Dr Luther W Brady Trustee Emeritus 001.00 X 0 0 0 Mrs Carolyn S Burger Trustee Emerita 001.00 X 0 0 0 Mr Jonathan Coopersmith Trustee/Musical Studies Faculty 035.00 X 97978 0 23025 Mr Anthony B Creamer Trustee 001.00 X 0 0 0 Mr Roberto Diaz President/Trustee 035.00 X X 382527 0 57380 Mr Joseph M Field Trustee Emeritus 001.00 000.50 X 0 0 0 Mr Gordon B Fowler Trustee 001.00 X 0 0 0 Dr Bruce J Gould MD Trustee 001.00 X 0 0 0 Dr Jennifer Higdon Trustee/Composition faculty 035.00 X 13379 0 2005 Ms Marsha Hunter Alumni Council Trustee 001.00 X 0 0 0 Mr Scott M Jenkins Trustee Emeritus 001.00 000.50 X 0 0 0 Ms Bobby Ellen Kimbel Phd Trustee Emerita 001.00 X 0 0 0 Mr James R Ledwith Trustee Emeritus 001.00 000.50 X 0 0 0 Dr Bong S Lee Trustee Emeritus 001.00 X 0 0 0 Mr Harry Lee Trustee 001.00 X 0 0 0 Mr HF Lenfest Chairman Emeritus 001.00 000.50 X 0 0 0 Mrs Lisa Liem Trustee 001.00 X 0 0 0 Mrs Sueyun P Locks Trustee 001.00 X 0 0 0 Ms Christina Weiss Lurie Trustee 001.00 X 0 0 0 Mrs Betty H Matarese Trustee 001.00 X 0 0 0 Mr Daniel Matsukawa Trustee/Instrumental Faculty 035.00 X 53291 0 12525 Mr John H McFadden Trustee 001.00 X 0 0 0 Mr Frank J Mechura Trustee 001.00 X 0 0 0 Mr John J Medveckis Trustee 001.00 X 0 0 0 Mr Thomas W Morris Overseers Truatee 001.00 X 0 0 0 Mr Robert H Mundheim Trustee 001.00 X 0 0 0 Mr John A Nyheim Trustee Emeritus 001.00 X 0 0 0 Mr Shaun F O'Malley Trustee Emeritus 001.00 X 0 0 0 Mr Albert E Piscopo Trustee 001.00 X 0 0 0 Mr Robert Pollack Trustee 001.00 X 0 0 0 Mr William H Roberts Esquire Trustee 001.00 X 0 0 0 Dr Milton L Rock Honorary Trustee 001.00 000.50 X 0 0 0 Mr Robert H Rock Trustee 001.00 X 0 0 0 Mr Mark E Rubenstein Trustee 001.00 X 0 0 0 Mr Brett Rubinson Trustee 001.00 X 0 0 0 Mr Samuel Shipley Trustee 001.00 000.50 X 0 0 0 Mrs Amanda Smoot Trustee Emerita 001.00 X 0 0 0 Mr Mark Steinberger Friends of Curtis Trustee 001.00 X 0 0 0 Mr Jay H Tolson Trustee 001.00 X 0 0 0 Mr William R Towcimak Crescendo Club Trustee 001.00 X 0 0 0 Mrs Elizabeth Vale Trustee 001.00 X 0 0 0 Mrs Penelope Watkins Trustee 001.00 X 0 0 0 Ms Elizabeth B Warshawer Executive Vice President 035.00 X 352043 0 52805 Ms Kristen B Loden Senior Vice President of Development 035.00 X 209018 0 41805 Mr Paul J Bryan Dean of Faculty and Studnets 035.00 X 153533 0 36080 Mr Charles Sterne Director of Principal Gifts and Planned Giving 035.00 X 133956 0 31480 Mr Joseph M Slater Senior Director of Finance 035.00 X 124192 0 29185 Mr David A Ludwig Dean of Artistic Programs and Performances 035.00 X 121783 0 28610 1641700 314900 8 false true false Parkhurst Dining Services 285 East Waterfront Drive Homestead PA 15120 Cafeteria Services 753571 Allied Barton Security Services 161 Washington Street Suite 600 Conshohocken PA 19428 Security Services 477391 Elliott Lewis Corporation 2900 Black Lake Place Philadelphia PA 19154 Maintenence Services 291762 Phaildelphia Orchestra Association 230 South Broad Street Suite 800 Philadelphia PA 19102 IT Services 274989 City Cleaning Company Inc 2318-26 Aramingo Avenue Philadelphia PA 191253610 Custodial Services 257788 5 590234 4555095 126904 13215820 481119 18488053 Student fees 741078 741078 Concert Income 192901 192901 Dormitory revenue 1507815 1507815 2441794 2852440 2852440 17769328 15487028 2282300 2282300 590234 127198 -127198 25937389 2441794 2852440 0 856746 856746 0 0 0 0 7348134 4628282 2064923 654929 583137 291568 233255 58314 621447 310723 248579 62145 540792 270396 216317 54079 0 26304 26304 55858 55858 0 0 0 263123 263123 265567 94931 165420 5216 441884 89195 352689 0 1531427 1314310 161293 55824 514015 417195 96820 0 0 0 0 2438841 2237640 89423 111778 288301 268384 8852 11065 Fundraising expenses 339823 339823 Instructional expenses 2874954 2874954 Dormitory expenses 1238494 1238494 0 20228847 14892818 3982856 1353173 227178 1492055 1440238 1442771 24175131 23886818 76609 383178 459287 664654 184732 275372 108917191 20045037 90769409 88872154 122669065 128727907 2093265 2143292 242094914 247888201 1453581 2085432 486625 698286 6047002 5058617 465579 465579 2170040 2127270 10622827 10435184 X 131776287 134851713 30229155 28815422 69466645 73785882 231472087 237453017 242094914 247888201 X 5708542 272388 X false true X true false X 0.00000 0.00000 0.00000 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3650207 false 122669065 6239500 5407128 5587786 128727907 108797008 6035970 13135655 5299568 122669065 90928866 8038336 14866431 5036625 108797008 89917874 9259467 -3792323 4456152 90928866 79660757 1525749 12845892 4114524 89917874 0.56000 0.32000 0.12000 false true true 13848261 13848261 79171038 12187595 66983443 12247685 7857442 4390243 3650207 3650207 88872154 Financial derivatives and other financial products Closely-held equity interests Federal income taxes Split Interest Liabilities 2127270 Mary Louise Curtis Bok Foundation The Institute records assets, liabilities and revenue related to gifts donated in the form of split interest agreements for which it serves as trustee. The types of split interest agreements include gift annuities, pooled income funds and charitable remainder unitrusts. The assets received are recorded at their fair value at the time of receipt as restricted support in accordance with donor imposed restrictions until a stipulated time restriction ends or specified condition is met. Liabilities represent the net present value of expected future payments of income earned or a fixed percentage of the assets owed to the beneficiaries designated by the donors on the basis of their estimated life expectancies. Contribution revenues are recognized at the amount of the difference of assets received and expected future payments. Over the term of the agreements, amortization of the discount on the liability and effects of changes in the life expectance of the beneficiary are recorded as adjustments to the liability and amortization of discount and change in actuarial assumptions on split interest agreements. The discount rates for gifts received during the year ended May 31, 2015 ranged from 6.4 to 7.2. Discount rates ranged from 1.6 to 9.0 for gifts received prior to and during the year ended May 31, 2015. Contribution revenue recognized on these arrangements totaled approximately 513,000 and 12,000 for the years ended May 31, 2015 and 2014, respectively. 2127270 X 26209777 272388 272388 25937389 25937389 20228847 20228847 20228847 V 4 Earnings from the endowment are used to fund operating expenses and capital expenditures for the Curtis Institute of Music to enable the school to continue its policy of awarding merit based full tuition scholarships to all of its students. The uses of the Institutes endowment funds are determined by donor instructions in the event there are restrictions on the endowment gift. X 2 The Institute is exempt from federal income taxes under section 501c3 of the Internal Revenue Code. Effective June 1, 209 management adopted the accounting standard Accounting for Uncertainty in Income Taxes. This standard clarifies the accounting and reporting for uncertainties in income tax positions taken or expected to be taken in filing with taxing juristictions using minimum recognition and measurement thresholds. X 2 Management has reviewed tax positions taken in filings with federal jurisdictions and believes those positions would be sustained should the filings be examined by the relevant taxing authority. Those tax filings for 2012, 2013 and 2014 are subject to examination, generally for three years after they are filed. X 2 Should settlement of an examination or other event result in a change in Managements evaluation of a tax position taken or expected to be taken in filings that have not been closed by statute or examination, any interest and penalties related to the unrecognized tax benefit as a result of the uncertain tax position would be included in interest and administrative expenses, respectively. true true false true true true true false false false false false false false false true false true 6a Students at the Institute receive federal aid in the form of Pell Grants and Stafford Loans. X X X X X X X false Annual Gala event 590234 590234 12135 45895 69168 590234 590234 12135 45895 69168 127198 -127198 true Need based assistance to students 122 259350 597396 Book Dormitory and cafeteria privileges X X X false false false false false false false false false Mr Roberto Diaz President/Trustee 382527 57380 439907 Ms Elizabeth B Warshawer Executive Vice President 352043 52805 404848 Ms Kristen B Loden Senior Vice President of Development 209018 41805 250823 Mr Paul J Bryan Dean of Faculty and Studnets 153533 36080 189613 Mr Charles Sterne Director of Principal Gifts and Planned Giving 133956 31480 165436 Mr Joseph M Slater Senior Director of Finance 124192 29185 153377 Mr David A Ludwig Dean of Artistic Programs and Performances 121783 28610 150393 X 22030 Appraised values X 13 255699 Market values X Musical instruments 5 203390 Appraised values X false true false Form 990, Part VI, Section B, Line 11A The form 990 was discussed by the Finance Committee of the Board of Trustees of the Institute at its bi-monthly meeting. Form 990, Part VI, Section B, Line 12c Conflict of interest statements are submitted by the members of the Institutes Board of Trustees annually. Form 990, Part VI, Section B, Line 15a Compensation for officers and key employees of the Institute is reviewed by the Human Resources Committee and approved by the Board of Trustees. Form 990, Part VI, Section B, Line 15b Compensation for officers and key employees of the Institute is reviewed by the Human Resources Committee and approved by the Board of Trustees. Form 990, Part VI, Section C, Line 19 Governing documents, conflict of interest policy and financial statements of the Institute are available to the public upon request. Form 990, Part XI, Line 5 Change in unrealized gains losses for the year. Form 990, Part I, Section E, Line Lines 6a and 6b Students at the Institute receive federal aid in the form of Pell Grants and Stafford Loans. Mary Louise Curtis Bok Foundation 1726 Locust Street Philadelphia PA 19103 236000615 Foundation PA 501c3 Public N/A false false false true false false false false false false false false true false false false false true false false Mary Louise Curtis Bok Foundation c 4555095 Endowment Draw