2015-11-30T06:33:13-06:00 2014-12-31 560747981 DIXON HUGHES GOODMAN LLP 500 RIDGEFIELD COURT ASHEVILLE NC 28806 990 2014-01-01 560729350 BREVARD MUSIC CENTER INC BREV 8288622100 PO BOX 312 BREVARD NC 28712 MARK WEINSTEIN PRESIDENT 8288622100 2015-11-30 1 AMY BIBBY P00445891 8282542254 2014 2016-04-25 22:37:26Z MARK WEINSTEIN PO BOX 312 BREVARD NC 28712 6724927 0 X WWW.BREVARDMUSIC.ORG X 1947 NC SEE SCHEDULE O. 16 15 186 230 47565 -674 385061 1715074 13390 3410955 266068 586836 21372 280244 685891 5993109 0 1232950 0 0 378610 2311842 0 0 450549 260515 2584494 639125 6129286 46766 -136177 32401569 32832503 868836 799163 31532733 32033340 BREVARD MUSIC CENTER, A SUMMER INSTITUTE AND FESTIVAL, TEACHES GIFTED YOUNG MUSICIANS TO PREPARE AND PERFORM GREAT MUSICAL WORKS AT A HIGH ARTISTIC LEVEL. 0 0 4739456 1232950 3491430 BREVARD MUSIC CENTER ENROLLED 417 STUDENTS FOR THE 2014 SUMMER INSTITUTE AT THE HIGH SCHOOL, COLLEGE AND POST GRADUATE LEVEL. THE INSTRUCTIONAL PROGRAMS OFFERED WERE ORCHESTRAL STUDIES, PIANO, COMPOSITION, VOICE AND OPERA. STUDENTS HAD OPPORTUNITIES TO PERFORM IN APPROXIMATELY 54 PUBLIC PERFORMANCES DURING THE COURSE OF THE FESTIVAL. THE INSTITUTE AND FESTIVAL TOOK PLACE DURING JUNE - AUGUST 2014. 4739456 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 55 0 1 186 1 1 1 0 0 0 0 1 1 0 0 0 0 X 16 15 0 0 0 0 0 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X KEITH ARBOGAST 8288622111 PO BOX 312 BREVARD NC 28712 MR MARK WEINSTEIN PRESIDENT 40.00 X X 184395 0 17333 DR FALLS L HARRIS BOARD CHAIR 10.00 X X 0 0 0 MS LINDA THOMPSON SECRETARY 3.00 X X 0 0 0 MS LYNN WILLIAMS SECRETARY (FORMER) 3.00 X X 0 0 0 DR BRUCE BERRYHILL BOARD MEMBER 3.00 X 0 0 0 MR THOMAS C BOLTON BOARD MEMBER 3.00 X 0 0 0 MR T KENNETH CRIBB JR BOARD MEMBER 3.00 X 0 0 0 DR ROBERT H DOWDESWELL BOARD MEMBER 3.00 X 0 0 0 MRS JERUSHA FADIAL BOARD MEMBER 3.00 X 0 0 0 MR ALTON LOFTIS BOARD MEMBER 3.00 X 0 0 0 MRS DONNA LOHR BOARD MEMBER 3.00 X 0 0 0 MR RUSSELL E NEWTON JR BOARD MEMBER 3.00 X 0 0 0 MR ROBBY RUSSELL BOARD MEMBER 3.00 X 0 0 0 MR ARTHUR SCHREIBER BOARD MEMBER 3.00 X 0 0 0 DR JOELLA UTLEY BOARD MEMBER 3.00 X 0 0 0 MR M BEATTIE WOOD BOARD MEMBER 3.00 X 0 0 0 MR PHILLIP JEROME BOARD MEMBER 10.00 X 0 0 0 MR KEITH ARBOGAST CFO 40.00 X 84348 0 7065 MR DAVE PERRETT DIR. OF DEVELOPMENT 40.00 X 117963 0 11881 386706 0 36279 2 0 1 0 PIONEER COLLEGE CATERERS INC 303 GLENROSE AVE NASHVILLE TN 37210 FOOD SERVICE 308889 1 75920 82500 1556654 248692 1715074 TUITION AND FEES 611600 2535638 2535638 TICKET SALES 611600 827752 827752 ADVERTISING REVENUE 541800 47565 47565 3410955 430060 430060 121287 0 121287 121287 121287 790785 634009 156776 156776 156776 37085 75920 19409 17676 17676 187500 60103 127397 127397 25050 18297 6753 6753 MISCELLANEOUS INCOME 900099 7131 7131 7131 5993109 3491430 47565 739040 X 1232950 1232950 308178 42406 223366 42406 1631787 1266153 191847 173787 31765 17664 5336 8765 211363 105629 74069 31665 128749 84553 28105 16091 6031 6031 30720 30720 26349 26349 899876 871410 14194 14272 96696 89989 2873 3834 334610 190245 89212 55153 52967 24102 5746 23119 262553 195058 56246 11249 44273 36710 2901 4662 44284 9208 4822 30254 3053 1655 1398 515896 361127 128974 25795 45138 29087 13992 2059 PRODUCTION/PERFORMANCE 162011 162011 STRATEGIC INITIATIVE 29881 29881 MISCELLANEOUS 27956 19499 3219 5238 BAD DEBT EXPENSE 2200 2200 6129286 4739456 939281 450549 311971 633367 14102 162946 140760 19597 107911 5256 878 99860 100748 16300852 8214081 8765947 8086771 21924867 22649211 1111125 1098755 32401569 32832503 86237 177047 61359 32865 49140 31978 672100 557273 868836 799163 X 10564693 10309960 19966045 20721385 1001995 1001995 31532733 32033340 32401569 32832503 X -136177 567409 69375 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 21867617 295347 1132096 876085 16569 22402406 20947894 44012 1153765 275000 3054 21867617 19192407 474031 2101185 222969 585085 11675 20947894 16192136 546193 3208216 267195 473163 13780 19192407 17101459 302779 -469669 253007 481209 8217 16192136 0.06540 0.04470 0.88990 0 0 781058 781058 13602034 6848390 6753644 1860854 1346742 514112 56906 18949 37957 8086771 CHARITABLE GIFT ANNUITIES PAYABLE 222043 LIFE ESTATE USE OBLIGATION 335230 557273 X 5494752 567409 -1065766 -498357 5993109 0 5993109 4994145 97809 97809 4896336 1232950 1232950 6129286 PART V, LINE 4: BREVARD MUSIC CENTER'S ENDOWMENT IS INTENDED TO SUPPORT THE MISSION OF THE ORGANIZATION BY THE USE OF PRUDENT ANNUAL WITHDRAWALS TO FUND STUDENT SCHOLARSHIPS, FACULTY SALARIES, GUEST ARTISTS, AND GENERAL OPERATING EXPENSES OF THE INSTITUTION. THE AMOUNT WITHDRAWN FROM THE ENDOWMENT EACH YEAR IS APPROVED BY THE BOARD OF TRUSTEES, TAKING INTO CONSIDERATION THE NECESSITY TO SUPPORT THE MISSION OF THE INSTITUTION AND TO MAINTAIN THE ENDOWMENT FUND FOR FUTURE NEEDS OF THE INSTITUTION. PART X, LINE 2: THE CENTER'S POLICY IS TO RECORD A LIABILITY FOR ANY TAX POSITION TAKEN THAT IS BENEFICIAL TO THE CENTER, INCLUDING ANY RELATED INTEREST AND PENALTIES, WHEN IT IS MORE LIKELY THAN NOT THE POSITION TAKEN BY MANAGEMENT WITH RESPECT TO A TRANSACTION OR CLASS OF TRANSACTIONS WILL BE OVERTURNED BY A TAXING AUTHORITY UPON EXAMINATION. MANAGEMENT BELIEVES THERE ARE NO SUCH POSITIONS AS OF DECEMBER 30, 2014 AND, ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED. THE CENTER'S FEDERAL RETURNS OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) FOR 2013, 2012, AND 2011 ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN SPLIT INTEREST VALUE 69,375. SPECIAL EVENT EXPENSE 79,512. COGS 18,297. GRANTS IN REVENUES -1,232,950. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSE 79,512. COGS 18,297. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS IN REVENUES 1,232,950. 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL DRAWS ITS STUDENTS NATIONWIDE AND FROM OTHER COUNTRIES SO IT IS NOT PRACTICAL TO USE NEWSPAPER OR BROADCAST MEDIA TO PUBLICIZE ITS RACIALLY NONDISCRIMINATORY POLICY. THE SCHOOL'S NONDISCRIMINATORY POLICY IS PUBLISHED IN ALL COMMUNICATIONS USED TO SOLICIT STUDENTS DIRECTLY, AND ON ITS WEBSITE, WHICH IS THE MAIN TOOL USED TO COMMUNICATE WITH POTENTIAL STUDENTS. SCHEDULE E, PART I, LINE 4 BREVARD MUSIC CENTER DOES NOT MAINTAIN RECORDS INDICATING THE RACIAL COMPOSITION OF THE STUDENT BODY, FACULTY, AND ADMINISTRATIVE STAFF. ENROLLMENT OFFERS ARE BASED SOLELY ON MUSICAL ABILITY AFTER REVIEW OF SUBMITTED AUDITIONS. DECISIONS CONCERNING FACULTY AND ADMINISTRATIVE STAFF ARE BASED UPON THE APPLICANT'S ABILITY TO PERFORM THE DUTIES REQUIRED, AND, IN THE CASE OF FACULTY, THEIR MUSICAL TALENT. SCHEDULE E, PART I, LINE 6 BREVARD MUSIC CENTER RECEIVED GRANTS FROM THE NORTH CAROLINA ARTS COUNCIL AND THE NATIONAL ENDOWMENT FOR THE ARTS FUNDED BY THE NORTH CAROLINA AND UNITED STATES LEGISLATURES, RESPECTIVELY. CHAMPION HILLS 47800 40675 7125 6692 2176 LAKE TOXAWAY 40100 35245 4855 5161 2806 2 25105 25105 2574 113005 75920 37085 11853 7556 19409 17676 187500 55760 4343 1 0.80000 187500 55760 4343 60103 127397 NC 0 NORTH CAROLINA DOES NOT REQUIRE NON-PROFITS TO BE LICENSED TO HOLD A RAFFLE. THE ORGANIZATION MUST ADHERE TO THE RULES FOR NON-PROFITS AS STATED IN THE STATUTES. 0 1 0 1.00000 KEITH ARBOGAST PO BOX 312 BREVARD NC 28712 0 0 1 FINANCIAL AID FOR INSTITUTE STUDENTS 381 1232950 PART I, LINE 2: SINCE ALL SCHOLARSHIP GRANTS ARE MADE TO STUDENTS ATTENDING THE SCHOOL, THE MONITORING OCCURS WHEN THE ORGANIZATION CREDITS THE STUDENT'S ACCOUNT BALANCE FOR THE AMOUNT OF THE SCHOLARSHIPS GRANTED TO THE STUDENT. NO FUNDS EVER LEAVE THE ORGANIZATION TO BE USED AT OTHER INSTITUTIONS. X X X X 0 0 0 0 0 0 0 0 0 MR MARK WEINSTEIN PRESIDENT 184395 0 0 0 0 0 0 0 17333 0 201728 0 0 0 X 15 248692 FMV 0 0 0 FORM 990, PART I, LINE 1: BREVARD MUSIC CENTER, A SUMMER INSTITUTE AND FESTIVAL, TEACHES GIFTED YOUNG MUSICIANS TO PREPARE AND PERFORM GREAT MUSICAL WORKS AT A HIGH ARTISTIC LEVEL. FORM 990, PART VI, SECTION A, LINE 1 THERE SHALL BE AN EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES CONSISTING OF THE OFFICERS OF THE BOARD, THE PRESIDENT, AND CHAIRS OF THE STANDING COMMITTEES. THE EXECUTIVE COMMITTEE SHALL HAVE AND EXERCISE THE POWERS OF THE BOARD OF TRUSTEES IN THE MANAGEMENT OF THE BUSINESS AND OFFICERS OF THE CENTER BETWEEN THE MEETINGS OF THE BOARD, OR TO THE EXTENT AND FOR SUCH PERIOD OR PERIODS OF TIME AS THE BOARD OF TRUSTEES MAY PROVIDE BY RESOLUTION DULY ADOPTED BY A MAJORITY OF THE TRUSTEES IN OFFICE. A SIMPLE MAJORITY (INCLUDING ALWAYS THE CHAIR, OR IN THE CHAIR'S ABSENCE THE CHAIR-ELECT, PAST-CHAIR OR ACTING-CHAIR), SHALL CONSTITUTE A QUORUM OF THE EXECUTIVE COMMITTEE FOR TRANSACTION OF BUSINESS. FORM 990, PART VI, SECTION A, LINE 7A TWO ORGANIZATIONS EACH HAVE THE POWER TO APPOINT ONE BOARD MEMBER. THE PRESIDENT OF BREVARD MUSIC CENTER ASSOCIATION AND THE VICE-PRESIDENT, SOUTHEASTERN REGION OF THE NATIONAL FEDERATION OF MUSIC CLUBS, SHALL SERVE IN AN EX-OFFICIO CAPACITY AS HE OR SHE IS FROM TIME TO TIME ELECTED BY HIS/HER RESPECTIVE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11 THE AUDIT COMMITTEE REVIEWED AND APPROVED THE FORM 990 AND RECOMMENDED APPROVAL TO THE FULL BOARD OF TRUSTEES. ALL VOTING MEMBERS OF THE BOARD WERE GIVEN THE FORM 990 TO REVIEW PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL TRUSTEES, OFFICERS AND EMPLOYEES ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST OR POTENTIAL CONFLICTS OF INTEREST ANNUALLY AND TO AFFIRM THAT THEY HAVE READ THE CONFLICT OF INTEREST POLICY. ANY INDIVIDUAL WHO HAS POTENTIAL CONFLICT OF INTEREST IS REQUIRED TO RECUSE HIMSELF FROM TAKING PART IN ANY DECISION WHERE THAT CONFLICT EXISTS. FORM 990, PART VI, SECTION B, LINE 15 DURING THE YEAR, THE BOARD OF TRUSTEES HAS CREATED A COMPENSATION COMMITTEE FOR THE ORGANIZATION. COMPENSATION IS REVIEWED ANNUALLY FOR THE PRESIDENT AND OTHER OFFICERS. SALARY RECOMMENDATIONS AND COMPARISONS FROM A NON-PROFIT INDUSTRY PLACEMENT FIRM WAS CONSIDERED BY THE COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION MAKES ITS MOST RECENTLY FILED FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST. ADDITIONALLY, RECENT FILINGS OF THE FORM 990 ARE AVAILABLE ONLINE AT WWW.GUIDESTAR.ORG. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G PURCHASED SERVICES: PROGRAM SERVICE EXPENSES 43,117. MANAGEMENT AND GENERAL EXPENSES 576. FUNDRAISING EXPENSES 11,549. TOTAL EXPENSES 55,242. PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 411,006. MANAGEMENT AND GENERAL EXPENSES 13,618. FUNDRAISING EXPENSES 2,723. TOTAL EXPENSES 427,347. CONTRACT SERVICES: PROGRAM SERVICE EXPENSES 417,287. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 417,287. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST 69,375. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.