2014-03-22T07:43:32-05:00 2013-06-30 042571780 ALEXANDER ARONSON FINNING & CO PC 21 EAST MAIN STREET WESTBORO MA 01581 990 2012-07-01 042469627 BOSTON LYRIC OPERA COMPANY BOST 6175424912 11 AVENUE DE LAFAYETTE BOSTON MA 021111736 ESTHER NELSON 6175424912 2014-03-11 1 JOHN BUCKLEY CPA P00830631 5083669100 2014-03-06 2012 2015-11-30 17:44:51Z ESTHER NELSON 11 AVENUE DE LAFAYETTE BOSTON MA 02111 14864129 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. 37 36 281 43 0 0 5096027 12549145 1368156 1641352 70806 142395 -81247 -45269 6453742 14287623 0 0 0 0 4158653 3014967 44617 29425 740503 2174460 3806421 6377730 6850813 76012 7436810 5918226 13493366 1162196 1084305 4756030 12409061 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 5307083 1712734 CORE OPERA PRODUCTIONSFOUNDED IN 1976, AND NOW IN ITS 37TH 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 WORLD PREMIERES, NEW 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. 147395 EDUCATONAL 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 WITH BOSTON PUBLIC SCHOOLS, PRIVATE EDUCATIONAL INSTITUTIONS, LEADING COLLEGES AND UNIVERSITIES, AND THROUGH PARTNERSHIP PROGRAMS WITH THE MUSEUM OF FINE ARTS, HANDEL AND HAYDN SOCIETY, BOSTON PUBLIC LIBRARY, BOSTON CHILDREN'S MUSEUM AND ZOO NEW ENGLAND, BLO COLLABORATES ACROSS A BROAD SPECTRUM TO TAKE OPERA DEEPER INTO THE FABRIC OF THE LOCAL COMMUNITY AND BEYOND. 5454478 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 1 102 0 281 1 0 0 0 0 0 1 1 0 0 0 0 X 37 36 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X X STEVEN GLANZMAN 6175424912 11 AVENUE DE LAFAYETTE BOSTON MA 021111736 ESTHER NELSON 40.00 X X 213051 0 4272 STEVEN P AKIN 5.00 X X 0 0 0 JANE AKIN 1.00 X 0 0 0 DAVID B ARNOLD JR 1.00 X 0 0 0 LINDA CABOT BLACK 1.00 X 0 0 0 MIGUEL DE BRAGANCA 1.00 X 0 0 0 JOANNE WALTON DICKINSON ESQ 1.00 X 0 0 0 SUSAN D EASTMAN 1.00 X 0 0 0 KENNETH L FREED 1.00 X 0 0 0 THOMAS D GILL JR 2.00 X 0 0 0 ANNELIESE M HENDERSON 1.00 X 0 0 0 MIMI HEWLETT 1.00 X 0 0 0 HORACE H IRVINE II 1.00 X 0 0 0 SUSAN W JACOBS 1.00 X X 0 0 0 MARIA J KROKIDAS 1.00 X 0 0 0 ABIGAIL B MASON 1.00 X 0 0 0 RICHARD OLNEY III 1.00 X 0 0 0 A NEIL PAPPALARDO 1.00 X 0 0 0 E LEE PERRY 1.00 X 0 0 0 WILLIAM POUNDS 1.00 X 0 0 0 ALICIA COONEY QUIGLEY 1.00 X 0 0 0 DAVID W SCUDDER 1.00 X 0 0 0 SUSAN R SHAPIRO 1.00 X 0 0 0 RAY STATA 1.00 X 0 0 0 WAT TYLER 1.00 X 0 0 0 FRANK WISNESKI 1.00 X X 0 0 0 TANIA ZOUIKIN 1.00 X 0 0 0 ALAN DYNNER 1.00 X 0 0 0 STEPHEN T KUNIAN 1.00 X 0 0 0 WAYNE DAVIS 1.00 X 0 0 0 LOIS A LAMPSON 1.00 X 0 0 0 BARBARA WINTER GLAUBER 1.00 X 0 0 0 MICHAEL PUZO 1.00 X 0 0 0 DAVID SHUKIS 1.00 X 0 0 0 ANDREW EISENBERG 1.00 X 0 0 0 AMELIA WELT KATZEN 1.00 X 0 0 0 CHRISTOPHER TADGELL 1.00 X 0 0 0 KATHLEEN CREEGAN DAMASKOS 40.00 X 106023 0 4664 STEVEN GLANZMAN 40.00 X 0 0 0 DAN DURO 40.00 X 102190 0 4896 421264 0 13832 3 0 1 0 0 542378 77550 11929217 3042959 12549145 TICKET SALES 900099 1641352 1641352 1641352 100009 100009 390343 347957 42386 42386 42386 111898 542378 228549 -116651 -116651 OTHER INCOME 900099 71382 71382 71382 14287623 1712734 0 25744 X 349888 110886 239002 2185060 1644031 166993 374036 13184 8665 4519 241439 208872 13330 19237 225396 164450 33915 27031 21744 21744 29425 29425 21811 21811 854433 762363 3063 89007 175806 174146 1660 11047 6918 1853 2276 109902 59054 25424 25424 129736 67442 31127 31167 58670 31113 7563 19994 43150 8311 10498 24341 2574 2574 29301 15237 7032 7032 41652 26808 7422 7422 PRODUCTION 2011036 2011036 PRINTING AND PUBLICATIO 75228 53580 781 20867 RESEARCH 48459 23359 25100 BANK CHARGES 45034 155 43394 1485 126838 78052 16646 32140 6850813 5454478 655832 740503 466544 689500 606095 455020 3313042 7956359 103014 174228 289625 172624 36717 117001 1364386 4074455 28428 26803 5918226 13493366 186755 197983 932088 847493 43353 38829 1162196 1084305 X 295478 507748 3330327 4489906 1130225 7411407 4756030 12409061 5918226 13493366 7436810 216221 0 X X 0 1 X 1 0 X 5094373 3946273 5073385 5201367 12549145 31864543 5094373 3946273 5073385 5201367 12549145 31864543 10714492 21150051 64167 51276 49813 51730 100009 316995 103187 81740 41088 6369 71382 303766 32485304 8251561 0.65110 0.73080 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1260797 6281182 319700 -154000 7707679 1271712 53085 -64000 1260797 1105157 226584 -60000 1271711 996753 168404 -60000 1105157 1174405 -177652 996753 0.96000 0.04000 0 0 289625 172624 117001 117001 DEFERRED RENT 38829 38829 14806217 216221 95635 228549 540405 14265812 21811 21811 14287623 7153186 95635 228549 324184 6829002 21811 21811 6850813 PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT SPECIAL EVENTS EXPENSE NETTED WITH REVENUES ON 990 228,549. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT SPECIAL EVENTS EXPENSE NETTED WITH REVENUES ON 990 228,549. 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. IN FISCAL YEAR 2012, THE SPENDING POLICY TRANSFER AMOUNT WAS UP TO 5% OF THE VALUE OF ENDOWMENT NET ASSETS. IN FISCAL YEAR 2013, THE BOARD OF DIRECTORS CHANGED THE SPENDING POLICY 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 5 PERCENT OF THE CURRENT FISCAL YEAR'S CASH CONTRIBUTIONS, PRO-RATED BASED ON THE FISCAL QUARTER RECEIVED (1.25 PERCENT PER QUARTER) 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 PART X, #2- BLO FOLLOWS THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES STANDARD, WHICH REQUIRES BLO TO REPORT UNCERTAIN TAX POSITIONS, RELATED INTEREST AND PENALTIES, AND TO ADJUST ITS ASSETS AND LIABILITIES RELATED TO UNRECOGNIZED TAX BENEFITS AND ACCRUED INTEREST AND PENALTIES ACCORDINGLY. AS OF JUNE 30, 2013, BLO DETERMINED THAT THERE ARE NO MATERIAL UNRECOGNIZED TAX BENEFITS TO REPORT. INFORMATION RETURNS FILED FOR THE PRIOR THREE YEARS REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AND MASSACHUSETTS TAX AUTHORITIES. BLO DOES NOT EXPECT THAT THE AMOUNTS OF UNRECOGNIZED TAX BENEFITS WILL CHANGE SIGNIFICANTLY WITHIN THE NEXT TWELVE MONTHS. X X X X X X X 1 ARTSMARKETING SERVICES INC DEPARTMENT 325 PO BOX 8000 BUFFALO NY 14267 TELEPHONE FUNDRAISING CAMPAIGN 0 122360 29425 92935 122360 29425 92935 MA GALA 546871 482468 64403 62128 32826 37386 SIGNATURE SERIES 68900 59560 9340 17882 1015 4588 4 38505 350 38155 64284 8440 654276 542378 111898 144294 33841 50414 228549 -116651 X X X X X 0 0 0 0 0 0 0 0 0 ESTHER NELSON 213051 0 0 0 0 0 2000 0 2272 0 217323 0 0 0 X 22 3042959 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). OTHER FEES FORM 990, PART IX, LINE 11G CONSULTING AND OTHER: PROGRAM SERVICE EXPENSES 167,756. MANAGEMENT AND GENERAL EXPENSES 3,063. FUNDRAISING EXPENSES 89,007. TOTAL EXPENSES 259,826. ARTISTS: PROGRAM SERVICE EXPENSES 350,579. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 350,579. CONDUCTORS: PROGRAM SERVICE EXPENSES 76,133. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 76,133. STAGE DIRECTORS: PROGRAM SERVICE EXPENSES 65,756. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 65,756. SET DESIGNERS: PROGRAM SERVICE EXPENSES 38,094. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 38,094. LIGHTING DESIGNERS: PROGRAM SERVICE EXPENSES 36,395. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 36,395. COSTUME DESIGNER: PROGRAM SERVICE EXPENSES 27,650. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 27,650. FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE EITHER THE AUDIT OVERSIGHT PROCESS OR AUDITOR SELECTION PROCESS DURING THE TAX YEAR.