2015-05-14T08:17:16-07:00 2014-06-30 McGladrey LLP 80 City Square Boston MA 02129 990 2013-07-01 237225104 New England Conservatory of Music NEWE 6175851218 290 Huntington Avenue Boston MA 02115 Lesser Edward CFO 2015-05-14 true Lynne Johnson P00757336 6179129000 2013 2016-03-07 17:11:31Z Woodcock Anthony 290 Huntington Avenue Boston MA 02115 50409626 false false X www.necmusic.edu X 1867 MA New England Conservatory of Music (NEC) educates and trains musicians of all ages from around the world. 30 27 1178 200 29632 13837369 7067173 37094790 39596788 2857617 2498100 1400768 500537 55190544 49662598 13423589 13174414 0 25174355 25681391 93111 85232 2329033 12471445 13421870 51162500 52362907 4028044 -2700309 170746161 186604976 29567131 32621270 141179030 153983706 X New England Conservatory of Music (NEC) educates and trains musicians of all ages from around the world. false false 35265165 12327379 31190604 Higher Education : College - Programs leading to Bachelors degrees, Masters degrees, Doctoral degrees, and diplomas. NECs enrollment is comprised of approximately half undergraduates and half graduate students with an international student population of more than 30%. Financial aid represents 42% of tuition and fees. (836 students) 6155454 676910 5548692 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. 11% financial aid is provided based primarily on need. (2,219 students) 1516082 170125 2076681 Student Services Program, General/Other: Residence Hall/Dining - All freshmen are housed and dine in the NEC residence hall. The cafeteria is open to the entire community. (160 students) Health Services - On-site student health center providing routine and urgent care and referrals, staffed by a physician and nurse practitioners. Affiliated with Beth Israel Deaconess Medical Center. Entirely supported by student medical fees. Counseling Services - On-site center providing confidential counseling for students, staffed by a psychiatrist and professional counselors. 727077 780811 43663778 true true false false false false false true false true true true false false true true true false true false true false false true true false false true true true true false false false false false true false false false true true false false false false true true true false false true 215 0 true 1178 true true false false false false true true true 1 false false false false false false false false false false X 30 27 false false false false false false false true true false false false true true true true true true true false X Amanda G Carlson Controller 6175851218 290 Huntington Avenue Boston MA 02115 Akin Steven P Board Trustee 2.00 0.00 X 0 0 0 Anderson Michael J Board Trustee 2.00 0.00 X 0 0 0 Blumenthal Thomas Treasurer,ViceC 2.00 0.00 X X 0 0 0 Burnes Kennett F Board Trustee 2.00 0.00 X 0 0 0 de Braganca Barbara Board Trustee 2.00 0.00 X 0 0 0 Elfers Deborah B Board Trustee 2.00 0.00 X 0 0 0 Erichsen Peter C Secretary 2.00 0.00 X X 0 0 0 Ett Alan Board Trustee 2.00 0.00 X 0 0 0 Ferguson Corinne Board Trustee 2.00 0.00 X 0 0 0 Fulham Timothy W Board Trustee 2.00 0.00 X 0 0 0 Hodges Eloise W Board Trustee 2.00 0.00 X 0 0 0 Holland Nancy Noble Board Trustee 2.00 0.00 X 0 0 0 Hori Shintaro Board Trustee 2.00 0.00 X 0 0 0 Joni Saj-nicole A Board Trustee 2.00 0.00 X 0 0 0 LindseyJustin Board Trustee 2.00 0.00 X 0 0 0 Loder John Board Trustee 2.00 0.00 X 0 0 0 McGrath Thomas B Board Trustee 2.00 0.00 X 0 0 0 Perry E Lee Board Trustee 2.00 0.00 X 0 0 0 Powell Helen C Board Trustee 2.00 0.00 X 0 0 0 Prevost Patrick M Board Trustee 2.00 0.00 X 0 0 0 Reed Susan K Board Trustee 2.00 0.00 X 0 0 0 Shattuck Isabel M Board Trustee 2.00 0.00 X 0 0 0 Sloan Norton Q Board Trustee 2.00 0.00 X 0 0 0 Smithgall Thurmond Board Trustee 2.00 0.00 X 0 0 0 Thonis Michael Board Trustee 2.00 0.00 X 0 0 0 Uhrig Jennifer S Board Trustee 2.00 0.00 X 0 0 0 Vaill Timothy L Board Trustee 2.00 0.00 X 0 0 0 Wisneski Frank V Board Chair 8.00 0.00 X X 0 0 0 Yogg Joan H Board Trustee 2.00 0.00 X 0 0 0 Woodcock Anthony President 40.00 0.00 X X 479608 0 42242 Lesser Edward Sr. VP Fin & Op 40.00 0.00 X 247046 0 42388 Jones Donald E VP Inst Advance 40.00 0.00 X 240663 0 29258 Novak Thomas Dean of College 40.00 0.00 X 195409 0 13917 Fried Biss Miriam College Faculty 35.00 0.00 X 161520 0 19359 Lesser Laurence College Faculty 35.00 0.00 X 159303 0 14215 Schaphorst Ken College Faculty 35.00 0.00 X 148277 0 22195 Weilerstein Donald College Faculty 35.00 0.00 X 228285 0 26357 WolffHugh College Faculty 35.00 0.00 X 205298 0 27659 2065409 237590 35 false true false Ann Beha Architects Inc 33 Kingston St Boston MA 02111 Architect service 2511969 Guardian Security & Protection 50 Strawberry Lane Canton MA 02021 Security service 724372 Aramark Services Inc 1101 Market St Philadelphia PA 19107 Dining hall mgmt 628067 AM-PM Cleaning Corp 295 Weston St Waltham MA 02453 Cleaning service 488802 Tishman Construction Corp 84 State St 10th Floor Boston MA 02109 Construction 433025 11 671494 75120 6320559 682285 7067173 Concerts and Tours 711130 507513 507513 Non-academic fees 611710 697337 697337 Room and board 721310 2076681 2076681 Student health insurance 524114 565105 565105 Tuition and academic fees 611710 34875973 34875973 874179 874179 39596788 1772402 -57243 1829645 0 0 841998 578227 263771 263771 263771 720750 -4948 725698 725698 86875 638823 113375 671494 173749 -60374 -60374 0 3962 3962 3962 Miscellaneous income 900099 47980 47980 Parking (employees) 812930 186786 186786 Special events 900099 30020 30020 28392 28392 293178 49662598 39596788 29632 2969005 7500 7500 13166914 13166914 0 0 1296696 213104 818852 264740 0 20264224 16633142 2503788 1127294 669284 541843 82487 44954 1958814 1566091 279735 112988 1492373 1169403 227342 95628 0 229925 23935 196756 9234 137927 137927 0 85232 85232 234418 234418 2068605 848528 1164009 56068 150570 11521 139049 1313581 825089 363755 124737 709562 62254 647308 0 7142260 684719 6456866 675 1092508 958833 50076 83599 0 70928 37584 19469 13875 1130096 953412 123255 53429 0 1857539 1616719 114961 125859 0 Student health and food 1446375 1446375 All other expenses 188627 81349 104114 3164 Payroll processing & temp agen 84675 84675 Allocation of Building Ops 0 2786014 -2913571 127557 -4435726 29449 -4465175 52362907 43663778 6370096 2329033 X 1294460 9057128 4280126 1587552 6780947 8286004 231633 246580 655242 655242 0 3352801 3259240 0 365875 654157 71724306 29186095 40572041 42538211 42370046 41302100 70842990 79018762 0 0 0 170746161 186604976 3196374 3576204 931548 804391 21002411 23685000 4436798 4555675 29567131 32621270 X 34192387 31569974 40059125 54546221 66927518 67867511 141179030 153983706 170746161 186604976 X -2700309 15179107 325878 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X false 110264773 1005510 15904177 -2644163 -3964368 -234417 120331512 111484527 942000 6110630 -2505616 -5541007 -225761 110264773 112050062 6167106 -2398132 -2264937 -1858550 -211022 111484527 98406963 2888700 16311430 -2325994 -3015571 -215466 112050062 89613212 2062944 10663132 -1541568 -2188672 -202085 98406963 0.16660 0.54650 0.28690 false false false 1669497 1669497 51821852 19426927 32394925 13701385 9759168 3942217 4531572 4531572 42538211 17104941 F 79018762 Perkins Loan Refundable Advances 3687577 Planned giving liability 868098 4555675 X 56998630 15179107 -7608656 7570451 49428179 234419 234419 49662598 39762814 751976 751976 39010838 234418 13117651 13352069 52362907 Part III, Line 1a: If organization elected under SFAS 116 to not report are, historical treasures, o 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. Part III, Line 4: Description of organization's collections and how it furthers its purpose. 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: Intended uses of the endowment fund. Endowment revenue is used to support program-related activities. Part X : FIN48 Footnote 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, 2013 were reviewed, and it was determined that no provision for uncertain tax positions was required as of June 30, 2014 or 2013. Management believes that the Conservatorys income tax returns for fiscal years ending June 30, 2011 and prior are no longer subject to examination by taxing authorities. Part XII, Line 2d: Other expenses and losses per audited F/S Rental revenue reported gross $578227 Fundraising events exp reported gross $173749 Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S Loss on extinguishment of debt $4431141 Tuition & dorm scholarship $13166914 Bad debt $-4480402 Rounding $-2 true true true true true true true false false false false false false false false true false true Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental Agency US Dept of Education student grants and loans $6,671,682; Commonwealth of Massachusetts Cultural Council $25,000 Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized NEC includes the nondiscrimination policy in brochures, catalogues, and comparable materials dealing with student admissions, programs, and scholarships to satisfy the publicity requirement, given that NEC customarily draws a substantial percentage of its students both nationwide and worldwide. NEC follows this nondiscriminatory policy and has a racially balanced student body. Schedule E, Line 4 - Explanation of Records and Materials Not Maintained Schedule E, Line 5 - Explanation of Organization Discrimination by Race Central Amer & Caribbean 0 0 Program services Academic activities 7508 Europe 0 0 Program services Academic activities 229149 South America 0 0 Program services Academic activities 5574 Middle East and North Africa 0 0 Program services Academic activities 2610 Russia & Neighboring 0 0 Program services Academic activities 1327 N. Amer (Canada & MX) 0 0 Program services Academic activities 725 Sub-Saharan Africa 0 0 Program services Academic activities 1437 Central Amer & Caribbean 0 0 Investments 20755272 N. Amer (Canada & MX) 0 0 Investments 4990307 25993909 25993909 true false false true true false X X X X X X X true Wayland Group 323 Boston Post Sudbury MA 01776 Consulting false 85232 85232 MA Boston Gala 784869 671494 113375 28070 100205 45474 784869 671494 113375 28070 100205 45474 173749 -60374 true Commonwealth Shakespeare Co 231 Forest Street Babson Park MA 02457 042947682 501(c)(3) 7500 0 Support free performances of plays 1 0 Scholarship and other financial aid 1069 13166914 Additional Supplemental Information Part I, Line 2: The awarding of student financial aid grants under the U.S. Department of Education's Student Financial Assistance Program is monitored by NEC's Financial Aid Office, which ensures that NEC meets the compliance requirements of OMB Circular A-133. 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 true X X X X X false true false false false false false false false false Fried Biss Miriam College Faculty 161347 173 7524 11835 180879 Jones Donald E VP Inst Advance 224836 15827 9500 19758 269921 Lesser Edward Sr. VP Fin & Op 231219 15827 21135 21253 289434 Lesser Laurence College Faculty 159168 135 7956 6259 173518 Novak Thomas Dean of College 165130 30000 279 7885 6032 209326 Schaphorst Ken College Faculty 148120 157 3977 18218 170472 Weilerstein Donald College Faculty 228150 135 6885 19472 254642 WolffHugh College Faculty 205028 270 8843 18816 232957 Woodcock Anthony President 462497 17111 29533 12709 521850 Part I, Line 1a: Relevant information in regards to selections on 1a. A $25,000 annual housing allowance is provided to faculty member Donald Weilerstein and is included within W-2 base compensation in Part VII of the Core form and in Schedule J. The housing allowance was negotiated by the former NEC President and Provost as part of Mr. Weilerstein's compensation in his faculty contract when he moved from Cleveland, Ohio to Boston, given the higher cost of housing in the Boston area. NEC adopted a Faculty Housing Allowance policy in fiscal 2013. A Mass Development Fin Age 043431814 2014-06-30 23685000 Refunding Series 2008 bonds false false false A 23685000 23389001 295999 true true true true A false true true true false true 0.02588 0.00649 0.03237 false false true A false true false false false false false true A true A Woodcock Pres. Mortgage X 655242 655242 false true true 655242 The Baupost Group LLC Part V below 184090 See Part V below false Schedule L, Part V Supplemental Information Schedule L, Part IV, Business Transactions Involving Interested PersonsNEC Board Trustee and Treasurer Thomas W. Blumenthal is an officer and key employee of the Baupost Group, L.L.C. NEC Board Trustee Isabel M. Shattuck is the spouse of an officer and key employee of the Baupost Group, L.L.C. as well. The Baupost Group, L.L.C. is the manager of Baupost Value Partners L.P. IV, in which NEC is invested. The amount of $184,090 represents investment management fees paid to the Baupost Group, L.L.C. X 35 645785 Fair mkt value X Instruments 2 36500 Fair mkt value false true true Part I, Line 32, Hire and Use of Third Parties 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 III, Line 4d: Other Program Services Description OTHER PROGRAM SERVICES 4: 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. Form 990, Part VI, Line 11b: Form 990 Review Process 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, Line 12c: Explanation of Monitoring and Enforcement of Conflicts 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, Line 15b: Compensation Review and Approval Process for Officers and Key Employees The following also refers to Part VI, Line 15a. Officer and key employee compensation is reviewed by the Compensation 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' Compensation 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 2014 for the NEC President, the Senior Vice President of Finance and Operations, the Vice President for Institutional Advancement, and the Dean of the College. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available NEC's governing documents, conflict of interest policy, and financial statements are available to the public upon request for the same period of disclosure as set forth in section 6104(d). Other Changes In Net Assets Or Fund Balances - Other Increases Planned giving net change = $325878 Form 990, Part IX, Line 24e Due to a Form 990 software limitation, the description for the $-4,435,726 should read Bad Debt/Loss, not All Other Expenses. Charitable Remainder Trusts3 290 Huntington Ave Boston MA 02115 Investment MA Various true Gift Annuities 34 290 Huntington Ave Boston MA 02115 Investment MA Merrill Lynch Trust true Pooled Income Fund 13 290 Huntington Ave Boston MA 02115 Investment MA Merrill Lynch Trust true Charitable Lead Annuity Trust 230 Congress Street Boston MA 02110 Investment MA LoringW CTrust true true false true false false true true true true false false false false false false false false false false Gift Annuities 34 c 100000 Cash