2015-01-15T09:20:13-06:00 2014-06-30 042571780 ALEXANDER ARONSON FINNING & CO PC 21 EAST MAIN STREET WESTBORO MA 01581 990 2013-07-01 042469627 BOSTON LYRIC OPERA COMPANY BOST 6175424912 11 AVENUE DE LAFAYETTE BOSTON MA 021111736 ESTHER NELSON GENERAL AND ARTISTIC DIRECTOR 6175424912 2015-01-15 1 YEVGENIYA GORLOVSKY-SCHEPP CPA P01485484 5083669100 2015-01-09 2013 2016-02-25 16:41:14Z ESTHER NELSON 11 AVENUE DE LAFAYETTE BOSTON MA 02111 10022742 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. 36 35 369 39 0 0 12549145 7869255 1641352 1464317 142395 228205 -45269 -45016 14287623 9516761 0 0 0 0 3014967 3223590 29425 20454 778127 3806421 4224328 6850813 7468372 7436810 2048389 13493366 16209286 1084305 1090183 12409061 15119103 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 5833465 1591480 CORE OPERA PRODUCTIONSFOUNDED IN 1976, AND NOW IN ITS 38TH SEASON, BOSTON LYRIC OPERA IS NEW ENGLAND'S LARGEST AND LONGEST-RUNNING OPERA COMPANY. LED BY GENERAL & ARTISTIC DIRECTOR ESTHER NELSON, BLO IS CELEBRATED FOR ITS ARTISTIC EXCELLENCE AND DIVERSE REPERTOIRE, STAGING PREMIERES, COMMISSIONS, CO-COMMISSIONS AND BELOVED FAVORITES, FROM CLASSIC OPERATIC MASTERPIECES TO NEW CONTEMPORARY WORKS. EACH YEAR BLO ENGAGES DIVERSE AUDIENCES THROUGH ITS THREE MAIN STAGE PRODUCTIONS AT THE CITI PERFORMING ARTS CENTER SHUBERT THEATRE AND THROUGH ITS INNOVATIVE OPERA ANNEX PRODUCTIONS IN FOUND SPACES THROUGHOUT BOSTON, TAKING OPERA OUT OF THE CONCERT HALL AND INTO THE COMMUNITY. THROUGH ITS DYNAMIC PRODUCTIONS AND EXTENSIVE COMMUNITY ENGAGEMENT AND EDUCATION PROGRAMS, BLO REACHES NEARLY 40,000 PEOPLE ANNUALLY, AND IS FUNDED IN PART BY GRANTS FROM THE MASSACHUSETTS CULTURAL COUNCIL AND THE NATIONAL ENDOWMENT FOR THE ARTS. 169624 EDUCATIONAL AND COMMUNITY PROGRAMSBOSTON 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. 6003089 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 111 0 369 1 0 0 0 0 0 1 1 0 0 0 0 X 36 35 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X X KAREN T FROST 6175424912 11 AVENUE DE LAFAYETTE BOSTON MA 021111736 ESTHER NELSON GENERAL & ARTISTIC DIRECTO 40.00 X X 229934 0 6709 STEVEN P AKIN CHAIR 5.00 X X 0 0 0 JANE AKIN DIRECTOR 1.00 X 0 0 0 DAVID B ARNOLD JR 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 JOANNE WALTON DICKINSON ESQ DIRECTOR 1.00 X 0 0 0 SUSAN D EASTMAN DIRECTOR 1.00 X 0 0 0 KENNETH L FREED DIRECTOR 1.00 X 0 0 0 THOMAS D GILL JR DIRECTOR 2.00 X 0 0 0 ANNELIESE M HENDERSON DIRECTOR 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 SUSAN W JACOBS CLERK 1.00 X X 0 0 0 MARIA J KROKIDAS 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 WILLIAM POUNDS DIRECTOR 1.00 X 0 0 0 ALICIA COONEY QUIGLEY 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 RAY STATA DIRECTOR 1.00 X 0 0 0 WAT TYLER DIRECTOR 1.00 X 0 0 0 FRANK WISNESKI VICE CHAIR & TREASURER 1.00 X X 0 0 0 TANIA ZOUIKIN DIRECTOR 1.00 X 0 0 0 ALAN DYNNER DIRECTOR 1.00 X 0 0 0 STEPHEN T KUNIAN DIRECTOR 1.00 X 0 0 0 WAYNE DAVIS DIRECTOR 1.00 X 0 0 0 LOIS A LAMPSON DIRECTOR 1.00 X 0 0 0 BARBARA WINTER GLAUBER DIRECTOR 1.00 X 0 0 0 MICHAEL J PUZO DIRECTOR 1.00 X 0 0 0 DAVID SHUKIS DIRECTOR 1.00 X 0 0 0 ANDREW EISENBERG DIRECTOR 1.00 X 0 0 0 AMELIA WELT KATZEN DIRECTOR 1.00 X 0 0 0 CHRISTOPHER TADGELL DIRECTOR 1.00 X 0 0 0 STEVEN GLANZMAN LEFT MAY 2014 DIRECTOR OF FINANCE AND AD 40.00 X 65808 0 2733 KAREN T FROST STARTED MAY 2014 DIRECTOR OF FINANCE AND AD 40.00 X 0 0 0 EILEEN WILLISTON DIRECTOR OF DEVELOPMENT 40.00 X 100519 0 6917 396261 0 16359 2 0 1 0 0 285621 39300 7544334 600595 7869255 TICKET SALES 900099 1464317 1464317 1464317 192713 192713 304657 269165 35492 35492 35492 64637 285621 236816 -172179 -172179 OTHER INCOME 900099 127163 127163 127163 9516761 1591480 0 56026 X 360441 127970 232471 2345007 1691409 169192 484406 15706 8606 2812 4288 265820 226036 14784 25000 236616 163964 37336 35316 4600 4600 18826 18826 20454 20454 36361 36361 892049 869732 4263 18054 149918 149523 395 9343 5030 2215 2098 140452 85097 8949 46406 132108 68926 34463 28719 52959 41142 6214 5603 49243 5010 12984 31249 19100 19100 44184 23053 11526 9605 43056 26877 8825 7354 PRODUCTION 2273848 2273254 594 PRINTING AND PUBLICATIO 97491 84477 431 12583 RESEARCH 53769 46384 1085 6300 OUTSIDE SERVICES 53048 50502 1389 1157 153973 51497 63535 38941 7468372 6003089 687156 778127 689500 1159265 455020 559093 7956359 7876044 62667 174228 157187 262269 187050 117001 75219 4074455 6294603 26803 25208 13493366 16209286 197983 232421 847493 823457 38829 34305 1084305 1090183 X 507748 675189 4489906 5736416 7411407 8707498 12409061 15119103 13493366 16209286 2048389 661653 0 X X 0 1 X 1 0 X 3946273 5073385 5201367 12549145 7869255 34639425 3946273 5073385 5201367 12549145 7869255 34639425 10159217 24480208 51276 49813 51730 100009 192713 445541 81740 41088 6369 71382 127163 327742 35412708 7811041 0.69130 0.65110 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7707679 1846091 827723 -787531 9593962 1260797 6281182 319700 -154000 7707679 1271712 53085 -64000 1260797 1105157 226584 -60000 1271711 996753 168404 -60000 1105157 0.91000 0.09000 0 0 262269 187050 75219 75219 DEFERRED RENT 34305 34305 X 10511355 661653 132486 236816 1030955 9480400 36361 36361 9516761 7801313 132486 236816 369302 7432011 36361 36361 7468372 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, 2014. BLO'S INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY THE FEDERAL AND STATE JURISDICTIONS AND GENERALLY REMAIN OPEN FOR THE MOST RECENT THREE YEARS. PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT SPECIAL EVENTS EXPENSE NETTED WITH REVENUES ON 990 236,816. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT SPECIAL EVENTS EXPENSE NETTED WITH REVENUES ON 990 236,816. 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 THE ORGANIZATION 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: IN THE FOURTH QUARTER OF 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 THE BLO ENDOWMENT HAD $1,846,091 OF CONTRIBUTIONS IN FY 14, WHICH ARE SHOWN ON PART V LINE 1B NET OF $550,000 OF GIFTS REDESIGNATED BY DONORS FOR OPERATIONS DURING FY 14. X X X X X X X 1 ARTSMARKETING SERVICES INC DEPARTMENT 325 PO BOX 8000 BUFFALO NY 14267 TELEPHONE FUNDRAISING CAMPAIGN 0 67000 20454 46546 67000 20454 46546 MA GALA 298353 264755 33598 7917 112647 7526 39654 SIGNATURE SERIES 28300 19666 8634 15793 8314 4 23605 1200 22405 40038 4927 350258 285621 64637 7917 168478 7526 52895 236816 -172179 X X X X X 0 0 0 0 0 0 0 0 0 ESTHER NELSON GENERAL & ARTISTIC DIRECTO 184934 0 45000 0 0 0 2000 0 4709 0 236643 0 0 0 X 21 600595 SELLING PRICE 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 DIRECTORS STEVEN P. AKIN AND JANE AKIN HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11 FINAL APPROVAL PROCESS 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 UPON THE RECOMMENDATION OF THE FINANCE COMMITTEE, BUT PRIOR TO EXECUTIVE COMMITTEE FINAL APPROVAL. 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 BY AN INDEPENDENT HR EXECUTIVE. 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 CONSULTING AND OTHER: PROGRAM SERVICE EXPENSES 196,904. MANAGEMENT AND GENERAL EXPENSES 4,263. FUNDRAISING EXPENSES 18,054. TOTAL EXPENSES 219,221. ARTISTS: PROGRAM SERVICE EXPENSES 393,252. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 393,252. CONDUCTORS: PROGRAM SERVICE EXPENSES 87,601. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 87,601. STAGE DIRECTORS: PROGRAM SERVICE EXPENSES 79,597. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 79,597. SET DESIGNERS: PROGRAM SERVICE EXPENSES 42,450. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 42,450. LIGHTING DESIGNERS: PROGRAM SERVICE EXPENSES 36,483. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 36,483. COSTUME DESIGNER: PROGRAM SERVICE EXPENSES 33,445. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 33,445. FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE EITHER THE AUDIT OVERSIGHT PROCESS OR AUDITOR SELECTION PROCESS DURING THE TAX YEAR.