2014-03-25T11:12:41-05:00 2013-06-30 010523282 Berry Dunn McNeil & Parker LLC PO Box 1100 Portland ME 041041100 990 2012-07-01 042126597 The Boston Conservatory BOST 6175366340 8 The Fenway Boston MA 02215 Richard Ortner 6175366340 2014-03-12 1 Barbara J McGuan CPA P00219457 2077752387 2014-03-12 2012 2015-11-30 17:44:51Z Richard Ortner 8 The Fenway Boston MA 02215 41126565 0 X bostonconservatory.edu X 1927 MA Conservatory of music, dance and music theatre 25 24 876 200 0 0 1151890 2768573 30889304 33147752 249170 753917 460682 -268 32751046 36669974 8248528 9036948 0 0 13279430 14504410 45675 44240 927636 9483714 8878585 31057347 32464183 1693699 4205791 51562021 54997089 24695727 23670945 26866294 31326144 To educate exceptional performing artists for careers that enrich and transform the human experience by using skills, creativity and courage nourished in our vibrant multi-disciplinary community of musicians, dancers and actors. 0 0 26780339 9036948 33151132 A conservatory of music, dance and music theatre, serving over 750 students, offering degrees in bachelors in music, bachelors in fine arts, and masters in music and music education. 26780339 1 1 0 0 0 0 0 0 0 1 1 0 0 1 0 1 0 1 1 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 203 0 1 876 1 0 0 0 0 0 1 1 0 0 0 0 X 25 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 MA X X Eric Norman VP of Finance and Planning 6175366340 8 The Fenway Boston MA 02215 Alfred Houston 1.00 0.20 X X 0 0 0 Curtis R Kemeny 1.00 0.20 X X 0 0 0 Kirk L Ramsauer 1.00 0.20 X X 0 0 0 Mimi Hewlett 1.00 0.00 X 0 0 0 Elizabeth S Boveroux 1.00 0.00 X 0 0 0 Davi-Ellen Chabner 1.00 0.00 X 0 0 0 Caroline McMillan Collings 1.00 0.00 X 0 0 0 Cynthia Curme 1.00 0.00 X 0 0 0 Joanne Walton Dickinson Esq 1.00 0.00 X 0 0 0 Dr Diana Dohrmann 1.00 0.00 X 0 0 0 Gail S Flatto 1.00 0.00 X 0 0 0 Jeffrey Halsaver 1.00 0.00 X 0 0 0 Janet Sharp Kershaw 1.00 0.00 X 0 0 0 BJ Krintzman 1.00 0.00 X 0 0 0 Laura D Kunkemueller 1.00 0.00 X 0 0 0 Joseph C McNay 1.00 0.00 X 0 0 0 Kelly C McKernan 1.00 0.00 X 0 0 0 Gary R Mikula 1.00 0.00 X 0 0 0 Charlotte Prescott Newton 1.00 0.00 X 0 0 0 Anthony Pangaro 1.00 0.00 X 0 0 0 David Scott Sloan 1.00 0.00 X X 0 0 0 Peter J Wender 1.00 0.00 X 0 0 0 George C White 1.00 0.00 X 0 0 0 Andy Vores 35.00 0.00 X 84512 0 14640 Marillyn Zacharis 1.00 0.00 X 0 0 0 Richard Ortner 34.80 0.20 X 350985 0 16786 Joseph Edwards 35.00 0.00 X 96614 0 11898 Eric M Norman 34.80 0.20 X 179243 0 25960 Patricia Hoy 35.00 0.00 X 190106 0 15759 Karl Paulnack 35.00 0.00 X 105004 0 16910 James O'Dell 35.00 0.00 X 105858 0 11481 Carmen Griggs 35.00 0.00 X 122616 0 13058 Neil Donohoe 35.00 0.00 X 108603 0 16168 1343541 0 142660 9 0 1 0 Northeastern University 480 Renaissance 360 Huntington Ave Boston MA 02215 Food Services 1349785 Utile Inc 50 Summer Street Boston MA 02110 Architect 861372 Longwood Security Services Inc 429 Newbury Street Boston MA 02115 Security 354024 Ellucian Company LP 62578 Collections Center Drive Chicago IL 60693 ERP Consultant 304170 Consigli Construction Co Inc 72 Summer Street Milford MA 01757 General Contractor 168159 9 246945 2521628 23983 2768573 Tuition and Fees 611110 28918725 28918725 Room & Board 611110 3302370 3302370 Performance & Programs 611110 674925 674925 Miscellaneous Income 900099 240223 240223 Other Auxillary Income 611110 11509 11509 33147752 234542 234542 59323 0 59323 59323 59323 4882135 4362760 519375 519375 519375 30860 246945 93831 -62971 -62971 Bad Debt Recovery 900099 3380 3380 3380 36669974 33151132 0 750269 X 9036948 9036948 825328 825328 11261585 9874666 907594 479325 387122 314844 53936 18342 1184320 1123854 21897 38569 846055 635468 173567 37020 23135 23135 51010 51010 44240 44240 50521 50521 1224992 588246 505077 131669 227389 5690 221498 201 384154 112519 231312 40323 58647 30134 28513 1761729 1435395 309699 16635 244199 211392 16265 16542 441794 91 441703 957263 800045 113307 43911 199215 199215 Food Services 1495991 1441383 33460 21148 Events 688123 654237 17071 16815 Repairs & Maintenance 453241 211420 238115 3706 Miscellaneous 329649 204895 106404 18350 287533 99112 187581 840 32464183 26780339 4756208 927636 1917148 1928145 880387 770066 2326212 1630471 155509 127270 77262 129477 15564 4 573005 169884 18960742 13029707 5710871 5931035 8790007 11045390 374502 390365 30741554 32874982 51562021 54997089 1864987 1922905 2225564 1197322 20500348 20500348 104828 50370 24695727 23670945 X 21845935 25082579 4654179 5375700 366180 867865 26866294 31326144 51562021 54997089 4205791 254059 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6195050 1152720 511202 7858972 5367232 651040 183278 6500 6195050 5367232 0.89610 0.08990 0.01400 0 0 80161 80161 11369886 7722410 3647476 1193689 861459 332230 5703487 4400331 1303156 613519 45507 568012 5931035 Realty Corporation Receivable 2634828 Leverage Loan Receivable and Interest 21970998 Projects Under Development 8269156 32874982 X Description of Intended Use of Endowment Funds: Part V, Line 4: The majority of the Conservatory's endowment funds are for scholarships. Description of Uncertain Tax Positions Under FIN 48: Part X, Line 2: The standards for Accounting for Uncertainty in Income Taxes require the Conservatory to report any uncertain tax positions and to adjust its financial statements for the impact thereof. As of June 30, 2013, the Conservatory determined that it had no tax positions that did not meet the "more-likely-than-not" threshold of being sustained by the applicable tax authority. The Conservatory files tax and information returns in the United States (Federal) and Massachusetts (state) jurisdictions. These returns are generally subject to examination by tax authorities for the last three years. Part V: Prior year endowment fund balances have been restated to reflect certain unrestricted funds accumulated from past operating surpluses the Board of Trustees of the Conservatory have designated as a strategic reserve. While these funds have historically been classified as funds functioning as endowment, they bear no external restrictions and may be used for any purpose approved by the Board of Trustees. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Explanation of Nondiscriminatory Policy Publication Schedule E, Part I, Line 3 See Part II Explanation of Nondiscrimination Policy: Schedule E, Line 3 The Conservatory included a statement of its racially nondiscriminatory policy regarding students in all brochures and catalogs dealing with student admissions, programs and scholarships. The Conservatory customarily draws a substantial percentage of its students nationwide and worldwide. Further, the Conservatory includes a reference to its racially nondiscriminatory policy in other written advertising used as a means of informing prospective students of its programs. Explanation of Government Financial Aid: Schedule E, Line 6 The Conservatory participates in the student financial assistance programs of the Department of Education and receives funds for the following programs: Federal Family Education Loans Federal Work Study Federal Supplemental Educational Opportunity Grant Federal Pell Grant Aid from State agencies In addition to the above Federal Financial Aid programs, the Conservatory participates and receives state grants for its students from various states including: Massachusetts Vermont Pennsylvania X X X X X X X 1 Mary Giurleo 5 Polar Bear Drive Westford MA 01886 Grantswriter 0 646400 44240 602160 646400 44240 602160 MA Gala 277805 246945 30860 10920 5660 47041 26049 4161 277805 246945 30860 10920 5660 47041 26049 4161 93831 -62971 1 Alfred Lee Scholarship 1 0 3500 FMV Tuition Discounts Presser Scholarship 1 0 4800 FMV Tuition Discounts William Seymour Scholarship 2 0 1500 FMV Tuition Discounts Jan Veen Scholarship 12 0 30000 FMV Tuition Discounts Churchill Scholarship 1 0 13000 FMV Tuition Discounts Tuition Remission 3 0 78921 FMV Tuition Discounts Boston Conservatory Grant 119 0 687050 FMV Tuition Discounts Boston Conservatory Scholarship 523 0 7883207 FMV Tuition Discounts Conductor's Orchestra Scholarship 42 0 39500 FMV Tuition Discounts Honors Quartet Tuition Assistance Grant 7 0 3250 FMV Tuition Discounts Music Education Scholarship 40 0 111001 FMV Tuition Discounts Music Education Tuition Assistance Grant 40 0 108092 FMV Tuition Discounts Tuition Assistance Grant 15 0 39987 FMV Tuition Discounts Miscellaneous Scholarships 35 0 33140 FMV Tuition Discounts Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: Federal funds are monitored as follows: The Director of Financial Aid determines student eligibility for Pell, SEOG, FWS, ACG and Federal loans. The Director of Financial Aid posts student awards into the integrated student record system. The Bursar prints and distributes the billing statement which lists federal awards. The Director of Financial aid draws down funding from the federal website. The Director of Financial Aid and Bursar post the federal funds to the student account in the student record system. The senior accountant prepares and records the journal entry to record the cash receipt. The Director of Finance reviews and reconciles the student accounts receivable from the general ledger to the billing system. X 1 1 X X X X X 0 0 0 0 0 1 0 0 0 Richard Ortner 239338 0 70000 0 41647 0 7269 0 9517 0 367771 0 0 0 Eric M Norman 179243 0 0 0 0 0 10299 0 15661 0 205203 0 0 0 Patricia Hoy 190106 0 0 0 0 0 10112 0 5647 0 205865 0 0 0 Part I, Line 1a A housing allowance is provided to the President. The Board of Trustees voted to approve the amount of the housing allowance for the President. Part I, Line 6 $35,000 of the bonus paid to Richard Ortner, President of the Organization, is contingent on the net earnings of the Organization. A Massachusetts Industrial Development Financing Authority 043431814 2011-11-23 24500000 Refinance and Construction 0 0 0 A 20500348 380800 5067018 15052530 1 0 0 1 A 0 0 0 0 0 0 1 A 0 0 1 0 0 0 0 0 0 A 0 Schedule K, Part II, Line 3: Total amount of proceeds of the bond issues as of 06/30/2013 are not identical to the issue price listed in Part I, Column (E) because all of the bond proceeds have yet to be drawn for the construction project. Form 990, Part VI, Section B, line 11 The Conservatory's Form 990 is reviewed in detail by both management and the audit committee. The audit committee has the authority to approve the Form 990 for filing on behalf of the full board. All trustees receive a copy of the Form 990 prior to filing. Form 990, Part VI, Section B, line 12c The conflict of interest policy was reviewed and approved by the Board of Trustees. The policy applies to all Trustees and Senior Executives of the Boston Conservatory. Each year all Trustees and Senior Executives complete a conflict of interest form which requests information about personal and professional conflict-related activities. The Executive Assistant to the Board reviews all completed forms and presents any potential conflicts to the Board Chair and President. To date there have been no conflicts of interest. Therefore, no restrictions have been imposed on any Trustees and Senior Executives. Form 990, Part VI, Section B, line 15 The compensation of the President is determined by a compensation committee of the board, each member of which is independent of the President. Appropriate data including Forms 990 from other organizations and compensation survey or study data is considered. The compensation decision was documented contemporaneously. The President sets the compensation for other officers and key employees. Appropriate data is considered for this purpose. Form 990, Part VI, Section C, line 19 The Boston Conservatory will consider requests for copies of governing documents, conflict of interest policy, and financial statements. Other Fees Form 990, Part IX, line 11g Other: Program service expenses 18,144. Management and general expenses 149,488. Fundraising expenses 123,500. Total expenses 291,132. Security: Program service expenses 336,813. Management and general expenses 0. Fundraising expenses 0. Total expenses 336,813. Temporary Help: Program service expenses 83,488. Management and general expenses 43,545. Fundraising expenses 4,579. Total expenses 131,612. Maintenance & Housekeeping: Program service expenses 149,801. Management and general expenses 312,044. Fundraising expenses 3,590. Total expenses 465,435. The Boston Conservatory Realty Corp 8 The Fenway Boston MA 02215 263644206 Hold and Manage Real Estate MA 501(c)(3) Line 11A, I The Boston Conservatory 1 The Boston Conservatory Ipswich Realty Corporation 8 The Fenway Boston MA 02215 454795446 Hold and Manage Real Estate MA 501(c)(3) Line 11A, I The Boston Conservatory 1 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 The Boston Conservatory Realty Corp D 2634828 Loan Payable Balance The Boston Conservatory Realty Corp K 320000 Rent Expense Paid