2014-05-12T11:18:24-07:00 2013-06-30 Grant Thornton LLP 75 state street Boston MA 02109 990 2012-07-01 237225104 New England Conservatory of Music NEWE 6175851218 290 Huntington Avenue Boston MA 02115 Lesser Edward 2014-05-12 true Robert J Butler P00037953 6177237900 2012 2015-11-30 17:44:51Z Woodcock Anthony 290 Huntington Avenue Boston MA 02115 67128871 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 1151 200 99628 13450225 13837369 34439178 37094790 2098406 2857617 1395676 1400768 51383485 55190544 12291592 13423589 0 23778475 25174355 79114 93111 3017137 12596053 12471445 48745234 51162500 2638251 4028044 161739606 170746161 29380982 29567131 132358624 141179030 New England Conservatory of Music (NEC) educates and trains musicians of all ages from around the world. false false 35512889 12637268 30412555 Higher Education : College - Programs leading to bachelors degrees, masters degrees, doctoral degrees, and diplomas. (820 students) 5799444 628159 4655622 Continuing Education Programs: School of Preparatory and Continuing Education - Music instruction for children and adults not leading to a specific degree. (1,979 students) 1438867 158162 2026612 Student Services Program, General/Other: Dormitory/Dining - Room and board for residential students. (157 students) 42751200 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 false true true true false false false false false true false false false true true false false false false false false false false false true 198 0 true 1151 true true false false false false true true false 0 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 MA X Amanda Gates Controller 6175851218 290 Huntington Avenue Boston MA 02115 Woodcock Anthony 40.00 0.00 X X 532304 0 25974 Young Lane D 2.00 0.00 X 0 0 0 Yogg Joan H 2.00 0.00 X 0 0 0 Wisneski Frank V 8.00 0.00 X X 0 0 0 Vaill Timothy L 2.00 0.00 X 0 0 0 Uhrig Jennifer S 2.00 0.00 X 0 0 0 Thonis Michael 2.00 0.00 X 0 0 0 Smithgall Thurmond 2.00 0.00 X 0 0 0 Sloan Norton Q 2.00 0.00 X 0 0 0 Shattuck Isabel M 2.00 0.00 X 0 0 0 Reed Susan K 2.00 0.00 X 0 0 0 Prevost Patrick M 2.00 0.00 X 0 0 0 Powell Helen C 2.00 0.00 X 0 0 0 Perry E Lee 2.00 0.00 X 0 0 0 McGrath Thomas B 2.00 0.00 X 0 0 0 Joni Dr Saj-nicole A 2.00 0.00 X 0 0 0 Hori Shintaro 2.00 0.00 X 0 0 0 Holland Nancy Noble 2.00 0.00 X 0 0 0 Hodges Eloise W 2.00 0.00 X 0 0 0 Harcovitz Ruth 2.00 0.00 X 0 0 0 Fulham Timothy W 2.00 0.00 X 0 0 0 Ferguson Corinne 2.00 0.00 X 0 0 0 Ett Alan 2.00 0.00 X 0 0 0 Erichsen Peter C 2.00 0.00 X X 0 0 0 Elfers Deborah B 2.00 0.00 X 0 0 0 de Braganca Barbara 2.00 0.00 X 0 0 0 Burnes Kennett F 2.00 0.00 X 0 0 0 Blumenthal Thomas 2.00 0.00 X X 0 0 0 Anderson Michael J 2.00 0.00 X 0 0 0 Akin Steven P 2.00 0.00 X 0 0 0 Lesser Edward 40.00 0.00 X 240970 0 42839 Novak Thomas 40.00 0.00 X 161515 0 13877 Jones Donald E 40.00 0.00 X 264945 0 32281 Fried Biss Miriam 35.00 0.00 X 161225 0 19835 Katz Paul 35.00 0.00 X 155376 0 24925 Lesser Laurence 35.00 0.00 X 155297 0 14113 Weilerstein Donald 35.00 0.00 X 230958 0 29786 Wolff Hugh 35.00 0.00 X 196339 0 27146 2098929 230776 34 false true false Tishman Construction Corp 84 State St 10th Floor Boston MA 02109 Construction 968966 Guardian Security & Protection 50 Strawberry Lane Canton MA 02021 Security service 684061 Aramark Services In 1101 Market St Philadelphia PA 19107 Dining hall mgmt 610370 Ann Beha Architects Inc 33 Kingston St Boston MA 02111 Architect service 844923 AM-PM Cleaning Corp 295 Weston St Waltham MA 02453 Cleaning service 410155 12 638571 -2919 13201717 1169415 13837369 Tuition and academic fees 611710 33415966 33415966 Student health insurance 524114 565371 565371 Room and board 721310 2026612 2026612 Non-academic fees 611710 726031 726031 Medical fees 621300 324450 324450 36360 36360 37094790 1376738 8738 1368000 0 0 828259 534904 293355 293355 293355 12684779 11203900 1480879 1480879 90890 1389989 111375 638571 183368 -71993 -71993 0 7755 16155 -8400 -8400 Parking (employees) 812930 183023 183023 Hall rentals 532000 444779 444779 Concerts and tours 711130 378982 378982 181022 181022 1187806 55190544 38099573 99628 3153974 0 13423589 13423589 0 0 1325655 178388 878942 268325 0 19821896 15981325 2521261 1319310 573905 462436 72111 39358 2006458 1569817 299919 136722 1446441 1108973 229953 107515 0 66399 7923 45713 12763 123116 123116 0 93111 93111 225762 225762 1546418 863332 261815 421271 158588 13346 145242 1356673 816863 427581 112229 607423 63678 543745 0 2924576 600469 2324107 1294616 1058438 87798 148380 0 70333 49930 18785 1618 1151069 971106 123635 56328 0 1854322 1592444 108913 152965 0 Allocation of Building Ops 0 2489970 -2634397 144427 Payroll processing & temp agen 84027 84027 All other expenses 108999 94372 11812 2815 Student health and food 1393980 1393980 -494856 10821 -505677 51162500 42751200 5394163 3017137 X 2725503 1294460 3750293 4280126 7861119 6780947 589617 231633 655242 655242 0 3269440 3352801 0 347780 365875 67900597 27328556 36964803 40572041 39869161 42370046 65706648 70842990 0 0 0 161739606 170746161 2699815 3196374 835876 931548 21403458 21002411 4441833 4436798 29380982 29567131 X 35056552 34192387 31343454 40059125 65958618 66927518 132358624 141179030 161739606 170746161 X 4028044 4627789 164573 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X false 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 99875947 3510406 -11417795 -950477 -1163233 -241636 89613212 0.17890 0.81000 0.01110 false false false 1669497 1669497 51363176 18012167 33351009 13298270 9316389 3981881 1569654 1569654 40572041 14171655 F 70842990 Planned giving liability 798344 Perkins Loan Refundable Advances 3638454 4436798 X 47576402 4627789 -12016169 -7388380 54964782 225762 225762 55190544 38755996 -12705316 -12705316 51461312 225762 -524574 -298812 51162500 Part X 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, 2012 were reviewed, and it was determined that no provision for uncertain tax positions was required as of June 30, 2013 or 2012. Management believes that the Conservatorys income tax returns for fiscal years ending June 30, 2009 and prior are no longer subject to examination by taxing authorities. Part V, Line 4 Part V, Line 4: Intended uses of the endowment fund. Endowment revenue is used to support program-related activities. Part III, Line 4 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 III, Line 1a 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. true true true true true true true false false false false false false false false true false true 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 6 - Explanation of Aid or Assistance from Governmental Agency US Dept of Education student grants and loans $6,573,078; Commonwealth of Massachusetts Cultural Council $25,000 Russia & Neighboring 0 0 Program services Academic activities 1427 South America 0 0 Program services Academic activities 165261 N. Amer (Canada & MX) 0 0 Program services Academic activities 1344 Europe 0 0 Program services Academic activities 9035 East Asia & the Pacific 0 0 Fundraising 1484 East Asia & the Pacific 0 0 Program services Academic activities 32104 Central Amer & Caribbean 0 0 Program services Academic activities 98421 309076 309076 true false false true true false X X X X X X X true Wayland Group 323 Boston Post Sudbury MA 01776 Consulting false 93111 93111 MA Boston Gala 749946 638571 111375 18880 112305 52183 749946 638571 111375 18880 112305 52183 183368 -71993 true 0 0 Scholarship and other financial aid 1057 13423589 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 X false true false false false false false false false false Woodcock Anthony 447441 84863 12500 13474 558278 34500 Wolff Hugh 196033 306 7249 19897 223485 Weilerstein Donald 230790 168 8896 20890 260744 Novak Thomas 161200 315 7469 6408 175392 Lesser Laurence 155144 153 7612 6501 169410 Lesser Edward 225107 15863 20779 22060 283809 Katz Paul 155198 178 7529 17396 180301 Jones Donald E 220582 44363 11391 20890 297226 Fried Biss Miriam 160975 250 7294 12541 181060 Sch J, Part III, Additional Information Part III, Additional Information The following refers to Part I, Line 4b, Supplemental Nonqualified Retirement Plan. Anthony Woodcock $69,000, Donald Jones $28,500, and Edward Lesser $9,500, representing NEC's contributions to a 457(f) plan. The amounts for Anthony Woodcock and Donald Jones were paid in fiscal year 2013. Of the $69,000 for Anthony Woodcock, $34,500 was reported as deferred compensation in the prior year's Form 990. The $28,500 payout to Don Jones was both earned and paid out in fiscal 2013, and none of it was reported as deferred compensation in prior years. The $9,500 for Edward Lesser is reported in Column C this year as deferred compensation. Contributions vest at a future date and are therefore deferred for tax purposes. Vesting is contingent upon continued employment; termination would result in forfeiture of unvested 457(f) contributions. Sch J, Part I, Line 1a 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 Agency 043431814 57583RZU2 2008-09-04 21902110 Capital expenditures false false false A 825000 22689138 1553405 320927 20038776 false false true true A false true true true false 0.00000 0.00000 0.00000 false false false A false false false true false false false false A true Supplemental Information Part VI The $787,028 difference between Part I, column (e) and Part II, Line 3 is due to a discount on the bond issue that is being amortized over its 30-year term. This difference will be reduced over the bond term.Part III, Line 9: The Conservatory adopted written procedures in fiscal 2014 to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under Regulations sections 1.141-12 and 1.145-2.Part IV, Line 2: The rebate calculation was performed on October 30, 2013 for the period from September 4, 2008 to September 4, 2013.Part IV, Line 7: The Conservatory adopted written procedures in fiscal 2014 to monitor compliance with the arbitrage, yield restriction and rebate requirements of section 148. A Woodcock Pres. Mortgage X 655242 655242 false true true 655242 The Baupost Group LLC Part V below 426856 See Part V below false 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 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. X 40 1120230 Fair mkt value X Instruments 4 49185 Fair mkt value 3 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 IX, Line 24e Due to a Form 990 software limitation, the description for the $-494,856 should read Bad Debt/Loss, not All Other Expenses. Form 990, Part XI, Line 9 Other Changes In Net Assets Or Fund Balances - Other Decreases Rounding = -$3 Form 990, Part XI, Line 9 Other Changes In Net Assets Or Fund Balances - Other Increases Planned giving net change = $164576 Form 990, Part VI, Line 19 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. Form 990, Part VI, Line 15b 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 2012 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 12c 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 11b 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.