2013-04-11T15:14:58-05:00 2012-05-31 KPMG LLP 60 South Street Boston MA 02111 990 2011-06-01 042300472 BERKLEE COLLEGE OF MUSIC INC % BRUCE M GREENBERG BERK 6177472287 1140 BOYLSTON STREET BOSTON MA 022153693 AMELIA S KOCH 2013-04-11 6179881000 2011 2016-02-25 16:41:14Z ROGER H BROWN 1140 BOYLSTON STREET BOSTON MA 022153693 227702792 false X WWW.BERKLEE.EDU X 1945 MA THE MISSION OF BERKLEE COLLEGE OF MUSIC IS TO EDUCATE, TRAIN, AND DEVELOP STUDENTS TO EXCEL IN MUSIC AS A CAREER. 38 37 2947 0 161697 12621858 15120033 187418795 195556270 16919827 14536736 3804209 1974660 220764689 227187699 29322135 30884852 0 0 100242037 109513196 0 0 5176368 70103902 67206832 199668074 207604880 21096615 19582819 434763657 531550398 267780978 383880675 166982679 147669723 THE MISSION OF BERKLEE COLLEGE OF MUSIC IS TO EDUCATE, TRAIN, AND DEVELOP STUDENTS TO EXCEL IN MUSIC AS A CAREER. false false 157914320 30884852 166586580 EDUCATION AND INSTRUCTION: THE PROGRAM IS PROVIDED TO DEVELOP THE SKILLS AND KNOWLEDGE OF STUDENTS SEEKING DEGREES IN MUSIC. THE COLLEGE PROVIDES OUTSTANDING FACULTY AND TEACHING FACILITIES FOR OVER 4,180 STUDENTS FROM THE US AND 91 FOREIGN COUNTRIES. 10450685 13624049 BERKLEE ONLINE: BERKLEE COLLEGE OF MUSIC OFFERS ACCREDITED PROGRAMS IN THE AREAS OF PRODUCTION, GUITAR, SONGWRITING, THEORY, HARMONY AND EAR TRAINING, AND THE MUSIC BUSINESS. CURRENTLY MORE THAN 8,596 STUDENTS PARTICIPATE IN ONLINE LEARNING. 6342494 15345641 AUXILIARY SERVICES: THE COLLEGE HAS RESIDENCE HALL FACILITIES TO PROVIDE HOUSING FOR THOSE STUDENTS THAT CHOOSE TO LIVE AT THE COLLEGE. THE COLLEGE ALSO PROVIDES MEAL PLANS FOR BOTH STUDENTS IN HOUSING AND THOSE COMMUTER STUDENTS THAT CHOOSE THIS PLAN. 174707499 true true false false false false false false true true false false true true true false true true true true false false false true false false false true true true false false false false false true false false false false true false false false false true true true false false true 778 0 true 2947 true true true true SP false false false true true false false false false X 38 37 true false false false false false false true true false false true true true true true true true true false MA X X BRUCE M GREENBERG 6177472287 1140 BOYLSTON ST Boston MA 022153693 DAVID C ABRAMS 1.0 X LUIS ALVAREZ 1.0 X FRANCES R BERMANZOHN 1.0 X ERNIE BOCH JR 1.0 X 0 0 0 PAT CASALE 1.0 X DAVID CLEM 1.0 X JOHN CONNAUGHTON 1.0 X RONALD A CRUTCHER 1.0 X MICHAEL DREESE 1.0 X DAVID DYSART 1.0 X 0 0 0 MICHAEL R EISENSON 1.0 X EDUARDO GARCIA 1.0 X 0 0 0 DEAN GOODERMOTE 1.0 X PETER C GOTCHER 1.0 X CHRISTOPHER GUEST 1.0 X NILS GUMS 1.0 X 0 0 ELLIOT D HILLBACK 1.0 X CHARLES HIRSCHHORN 1.0 X STEVEN H HOLTZMAN 1.0 X BILL KAISER 1.0 X 0 0 ANN KREIS 1.0 X SARA LAWRENCE-LIGHTFOOT 1.0 X WILLIAM J LYNCH 1.0 X JOHN J MACWILLIAMS 1.0 X MARTIN MANNION 1.0 X 0 0 MARC MAYER 1.0 X KRISTINE MOYER HIGGINS 1.0 X PETER MULLER 1.0 X 0 0 TIM NILSON 1.0 X 0 0 JAMES J PALLOTA 1.0 X PHIL RAMONE 1.0 X CARMICHAEL S ROBERTS 1.0 X JEFF SHAMES 1.0 X HOWARD SHORE 1.0 X 0 0 0 PAUL SIMON 1.0 X GARY SLAIGHT 1.0 X 0 0 0 JANET MARIE SMITH 1.0 X JEFFREY C WALKER 1.0 X BILL WHELAN 1.0 X MARC WILLIS 1.0 X 0 0 0 SUSAN WHITEHEAD 1.0 X LEWIS T WILLIAMS 1.0 X ANN MARIE WILKINS 1.0 X ROGER H BROWN 35.0 X X 549098 0 86092 RICHARD HISEY 35.0 X 280115 0 82224 JOANNE WHITAKER 35.0 X 82628 0 11611 DAVID KUSEK 35.0 X 323819 0 84772 DAVID S MASH 35.0 X 280311 0 48144 LAWRENCE J SIMPSON 35.0 X 327104 0 73211 DEBORAH BIERI 35.0 X 271544 0 57535 MARJORIE O'MALLEY 35.0 X 251601 0 50080 AMELIA S KOCH 35.0 X 201177 0 47122 2567397 0 540791 199 true true false ARAMARK SERVICES INC 1057 SOLUTIONS CENTER CHICAGO IL 60677 FOOD SERVICES 3250466 WILLIAM RAWN ASSOCIATES 10 POST OFFICE SQUARE SUITE 1010 BOSTON MA 02109 CONSULTING 2373020 LONGWOOD SECURITY SERVICES INC 2 BROOKLINE PLACE SUITE 203 BROOKLINE MA 02445 SECURITY SERVICES 1667542 XEROX CORPORATION PO BOX 827598 PHILADELPHIA PA 19182 COPYING SERVICES 804286 ALLEN GERRITSEN 311 ARSENAL STREET WATERTOWN MA 02472 ADVERTISING SERVICES 594148 69 1416997 1012705 12690331 464496 15120033 TUITION & FEES 611710 161020459 161020459 ROOM & BOARD 721310 15345641 15345641 BERKLEE ONLINE 611710 13624049 13624049 PERFORMANCE CENTER 611710 766443 766443 BERKLEE LAPTOP PURCHASE PROGRAM 611710 4799678 4799678 195556270 1151991 161697 990294 0 0 1060960 0 1060960 0 1060960 1060960 13602117 0 217372 13384745 0 13384745 13384745 87000 1416997 297721 -210721 -210721 0 0 0 INTEREST INCOME NON-SECURITIES 900099 106038 106038 BOOKSTORE 451211 386776 386776 MISCELLANEOUS 900099 631607 631607 1124421 227187699 195556270 161697 16349699 0 30884852 30884852 0 0 1053463 879480 139334 34649 0 82984812 69279631 10975768 2729413 9377863 8102291 1269033 6539 10190072 8523028 1274798 392246 5906986 4902799 767908 236279 3410723 3410723 327046 327046 290569 290569 0 0 0 0 2748153 2048055 516364 183734 5628102 3595766 1871304 161032 2365399 525857 1839542 1157475 1157475 11585463 11338380 247083 1502257 823490 458499 220268 0 458107 284663 131975 41469 8137931 6522591 1354313 261027 0 9041725 7246986 1504722 290017 1611147 1611147 COST OF GOODS SOLD 4094908 4094908 COST OF MEALS 2842981 2842981 FACILITATOR FEES 2473798 2473798 AUDITIONING 2437244 838841 1598403 7093804 4930904 1543205 619695 207604880 174707499 27721013 5176368 0 0 21984068 22825331 6918838 9546274 560785 372884 620188 644509 0 0 5096868 5180135 0 0 0 0 257023262 106202320 126592324 150820942 248718071 243450428 0 0 0 0 0 0 24272515 98709895 434763657 531550398 58358061 79075878 0 0 20803859 25009770 168949331 261052631 0 0 0 0 0 0 17035735 16018677 2633992 2723719 267780978 383880675 X 125997232 104324290 20116068 20759478 20869379 22585955 166982679 147669723 434763657 531550398 X 19582819 -38895775 X false true true X true true X false false false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 248718071 10323705 -5492634 10098714 243450428 203752923 11547566 43803761 10386179 248718071 176725144 9073625 28336582 10382428 203752923 231755589 9428504 -55485620 8973329 176725144 0.89785 0.08820 0.01395 false false 22963364 22963364 160760963 67505620 93255343 13389634 8890975 4498659 34791014 24386259 10404755 25118287 5419466 19698821 150820942 DUE FROM VALENCIA 7615535 OTHER ASSETS 8051488 DEPOSIT WITH BOND TRUSTEES 83042872 98709895 0 REFUNDABLE ADVANCES - U.S. GOV 2723719 2723719 227187699 207604880 19582819 -20030671 -23357737 -43388408 -23805589 208097710 -20030671 642961 -19387710 227485420 -297721 -297721 227187699 231903299 24298419 24298419 207604880 207604880 ENDOWMENT FUNDS PART V, LINE 4 ENDOWMENT ASSETS ARE INTENDED TO PROVIDE A SOURCE OF INCOME FOR CURRENT OPERATIONS AND SCHOLARSHIPS WITHIN LEGAL SPENDING LIMITS. PERMANENT RESTRICTED ASSETS MUST BE HELD IN PERPETUITY. TEMPORARY RESTRICTED ASSETS ARE HELD FOR DONOR SPECIFIED TIME OR PURPOSE. LIABILITY FOR UNCERTAIN TAX POSITIONS UNDER FIN 48 (ASC 740) PART X, LINE 2 THE COLLEGE IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE), AND IS GENERALLY EXEMPT FROM TAXES PURSUANT TO SECTION 501(A) OF THE CODE. THE COLLEGE BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. OTHER ADJUSTMENTS TO NET ASSETS PART XI, LINE 8 NONOPERATING ADJUSTMENTS FOR PENSION OBLIGATION (20,554,129) CHANGE IN BERKLEE VALENCIA NET ASSETS (2,803,608) TOTAL (23,357,737) OTHER REVENUE INCLUDED IN FINANCIAL STATEMENTS NOT ON RETURN PART XI, LINE 2D BERKLEE VALENCIA REVENUE 642,961 OTHER REVENUE INCLUDED ON RETURN BUT NOT IN BOOKS PART XII, LINE 4B RECLASS OF FUNDRAISING EXPENSE (297,721) OTHER EXPENSES INCLUDED IN BOOKS BUT NOT ON RETURN PART XIII, LINE 2D NONOPERATING ADJUSTMENTS FOR PENSION OBLIGATION 20,554,129 BERKLEE VALENCIA EXPENSES 3,446,569 RECLASS OF FUNDRAISING EXPENSE 297,721 TOTAL 24,298,419 true true true true true true true false false false false false false false false true false true PUBLICIZE NONDISCRIMINATORY POLICY LINE 3 THE COLLEGE'S POLICY OF NONDISCRIMINATION IS PUBLISHED IN ALL COLLEGE CATALOGUES AND BROCHURES, AS WELL AS ALL EMPLOYMENT ADVERTISEMENTS. FINANCIAL AID OR ASSISTANCE LINE 6A THE COLLEGE RECEIVES FEDERAL AND STATE STUDENT FINANCIAL AID IN THE FORM OF GRANTS, LOANS, AND WORK STUDY. Europe (Including Iceland and Greenland) 1 3 Program Services VALENCIA CAMPUS 2683229 Europe (Including Iceland and Greenland) 0 0 Program Services STUDY ABROAD 354401 Central America and the Caribbean 0 0 Investments 41899440 1 3 1 3 44937070 44937070 true false true true true false ACTIVITY PER REGION PART I, LINE 3 THE ACTIVITY CONDUCTED IN SPAIN IS MANAGEMENT FOR THE INITIAL SET-UP OF A NEW CAMPUS FOR PROGRAM SERVICES IN THE FUTURE, WITH THE OFFICIAL OPENING SCHEDULED FOR FALL 2012. GALA CITY MUSIC 1503997 1416997 87000 131909 87000 12810 66002 0 1503997 1416997 87000 131909 87000 12810 66002 297721 -210721 true INTERNALLY FUNDED SCHOLARSHIPS 2619 26248659 FMV EXTERNALLY FUNDED SCHOLARSHIPS 382 3774426 FMV MASSACHUSETTS STATE SCHOLARSHIPS 161 140100 FMV SEOG FINANCIAL AID 277 388284 FMV COLLEGE WORK STUDY - PAYROLL 209 333383 FMV ORGANIZATION'S PROCEDURE FOR MONITORING THE USE OF GRANT FUNDS PART I, LINE 2 THE COLLEGE'S OFFICE OF FINANCIAL AID IS RESPONSIBLE FOR AWARDING AND MONITORING ALL FEDERAL AND STATE GRANT ASSISTANCE. STUDENTS APPLY FOR FINANCIAL AID BY COMPLETING A FAFSA FORM WHICH CAPTURES THE DATA REQUIRED DETERMINING ELIGIBILITY BASED ON FEDERAL AND/OR STATE REGULATIONS. DOCUMENTATION TO SUPPORT ELIGIBILITY IS KEPT FOR EACH INDIVIDUAL STUDENT ON FILE IN THE FINANCIAL AID OFFICE. WHEN FUNDS ARE AWARDED, STUDENT ELIGIBILITY IS MONITORED THROUGH THE COLLEGE'S OPERATIONAL SYSTEM AID MODULE TO ENSURE THERE ARE NO CHANGES IN STATUS THAT MIGHT AFFECT THEIR ONGOING ELIGIBILITY. TOTAL GRANT FUNDS AWARDED ARE TRACKED TO ENSURE COMPLIANCE WITH AUTHORIZED AMOUNTS FROM THE FUNDING AGENCY. THE COLLEGE ALSO IS REQUIRED TO SUBMIT TO AN ANNUAL INDEPENDENT A-133 AUDIT TO ENSURE COMPLIANCE WITH ALL FEDERAL REGULATIONS FOR GRANT ASSISTANCE. THE SCHOLARSHIP OFFICE IS RESPONSIBLE FOR AWARDING AND MONITORING ALL INSTITUTIONAL SCHOLARSHIP ASSISTANCE. CONTINUING STUDENTS APPLY FOR SCHOLARSHIP AID BY COMPLETING A SCHOLARSHIP APPLICATION FORM WHICH CAPTURES THE DATA REQUIRED TO DETERMINE ELIGIBILITY BASED ON INSTITUTIONAL GUIDELINES. ENTERING STUDENTS ARE AUTOMATICALLY CONSIDERED FOR SCHOLARSHIP BASED ON THE COLLEGE'S AUDITION AND INTERVIEW PROCESS. DOCUMENTATION TO SUPPORT ELIGIBILITY IS KEPT FOR EACH INDIVIDUAL STUDENT ON FILE IN THE SCHOLARSHIP OFFICE. WHEN FUNDS ARE AWARDED, STUDENT ELIGIBILITY IS MONITORED THROUGH THE COLLEGE'S OPERATIONAL SYSTEM SCHOLARSHIP MODULE TO ENSURE THERE ARE NO CHANGES IN STATUS THAT MIGHT AFFECT THEIR ONGOING ELIGIBILITY. TOTAL SCHOLARSHIP FUNDS AWARDED ARE TRACKED TO ENSURE COMPLIANCE WITH BUDGETED AMOUNTS. THE SCHOLARSHIP OFFICE REVIEWS ALL AWARDS EACH SEMESTER TO DETERMINE THAT THE STUDENT IS STILL ELIGIBLE FOR THE SCHOLARSHIP. X true true X X X X false true false false false true false false false ROGER H BROWN 400483 0 81130 0 67485 0 60550 0 25542 0 635190 0 0 0 RICHARD HISEY 252613 0 24380 0 3122 0 60550 0 21674 0 362339 0 0 0 DAVID KUSEK 291237 0 27196 0 5386 0 60550 0 24222 0 408591 0 0 0 DAVID S MASH 248885 0 26040 0 5386 0 30727 0 17417 0 328455 0 0 0 LAWRENCE J SIMPSON 253771 0 25400 0 47933 0 60550 0 12661 0 400315 0 41275 0 DEBORAH BIERI 239440 0 24160 0 7944 0 43979 0 13556 0 329079 0 0 0 MARJORIE O'MALLEY 134706 0 4280 0 112615 0 35058 0 15022 0 301681 0 0 0 AMELIA S KOCH 189009 0 8630 0 3538 0 42371 0 4751 0 248299 0 0 0 BENEFITS PART I, LINE 1A THIS BENEFIT IS PROVIDED ONLY TO THE PRESIDENT AND IS INCLUDED AS TAXABLE COMPENSATION ON HIS FORM W-2. SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN PART I, LINE 4B MARJORIE O'MALLEY AND LARRY SIMPSON PARTICIPATED IN A NONQUALIFIED SUPPLEMENTAL RETIREMENT PLAN. THESE INDIVIDUALS RECEIVED THE FOLLOWING PAYMENTS: MARJORIE O'MALLEY $111,290 LAWRENCE SIMPSON $41,275 COMPENSATION CONTINGENT ON NET EARNINGS PART I, LINE 6A THE BONUS PAYMENT RECEIVED BY THIS REPORTABLE INDIVIDUAL WAS, IN PART DETERMINED BY THE FINANCIAL RESULTS OF THE EDUCATIONAL UNIT HE LEADS. NUMEROUS OTHER QUALITATIVE AND QUANTITATIVE MEASURES WERE ALSO EVALUATED IN DETERMINING THIS BONUS PAYMENT. BOTH THE QUANTITATIVE AND QUALITATIVE METRICS USED WERE DEFINED AND AGREED UPON IN CONSULTATION WITH THE COLLEGE'S PRESIDENT. THE BONUS IS REPORTED ON THE INDIVIDUAL'S W-2 TO THE INTERNAL REVENUE SERVICE AND IS INCLUDED IN TAXABLE COMPENSATION. COMPENSATION DISCLOSURE PART II PART II, COLUMNS B (I), B(II) AND B(III) REPORT THE BREAKDOWN OF COMPENSATION AS REPORTED ON INDIVIDUAL W-2S AND/OR 1099-MISC FORMS FOR CALENDAR YEAR 2011. COLUMN B(I): REPORTS BASE COMPENSATION COLUMN B(II): REPORTS ANY BONUSES COLUMN B(III): REPORTS OTHER TAXABLE COMPENSATION SUCH AS LUMP SUM PAYMENTS FROM CERTAIN DEFINED BENEFIT PLANS, TAXABLE REIMBURSEMENTS, ALLOWANCES, ETC. COLUMN C: REPORTS DEFERRALS UNDER CERTAIN RETIREMENT PLANS INCLUDING EMPLOYEE AND EMPLOYER 403B CONTRIBUTIONS AND INCREASES IN THE VALUE OF DEFINED BENEFIT PLANS. COLUMN D: REPORTS NONTAXABLE BENEFITS SUCH AS MEDICAL REIMBURSEMENT PROGRAMS, LIFE INSURANCE, DISABILITY BENEFITS AND EDUCATIONAL ASSISTANCE. THESE ARE STANDARD BENEFITS FOR ALL COLLEGE EMPLOYEES. MDFA REVENUE BONDS SERIES 2007a 042456011 57586CE27 2007-08-08 178014966 SEE SCHEDULE O false false false MDFA REVENUE BONDS SERIES 2011 043431814 57583UJE9 2011-09-22 95437831 PURCHASE LAND, BUILDING, EQUIPMENT false false false 0 0 173510000 0 0 72610864 1235927 0 0 99663209 0 0 2012 true false true true 0 0 95437831 0 0 0 678781 0 0 11716178 0 83042872 2014 false false false true false false false false 0.00710 0.00000 0.00710 true false false false false 0.00710 0.00710 true false false false 0 true TRANSAMERICA 2. true false false false false false 0 false false false 0 false false SEE SCHEDULE O 0 LEE BERK DISCRETIONARY LOAN X 1665384 644509 false true true 644509 X MUSICAL INSTRUMENTS 11 94883 COST X MUSIC EQUIPMENT 6 72700 COST X OTHER 4 18963 COST X ACADEMIC SOFTWARE 4 277950 COST false true false ORGANIZATION'S MISSION PART III, LINE 1 *MISSION AND PHILOSOPHY* THE MISSION OF BERKLEE COLLEGE OF MUSIC IS TO EDUCATE, TRAIN, AND DEVELOP STUDENTS TO EXCEL IN MUSIC AS A CAREER. DEVELOPING THE MUSICIANSHIP OF ALL OUR STUDENTS IS THE FOUNDATION OF OUR CURRICULUM. WE BELIEVE THAT THE LESSONS AND QUALITIES DERIVED FROM THAT WORK - THE SELF-DISCIPLINE NEEDED FOR EXCELLENCE, THE EMPATHY REQUIRED OF MUSIC MAKING, AND THE OPENNESS AND INQUISITIVENESS ESSENTIAL TO CREATIVITY - ARE CRITICAL TO ACHIEVEMENT IN ANY PURSUIT, MUSICAL OR OTHERWISE; AND THAT MUSIC IS A POWERFUL CATALYST FOR PERSONAL GROWTH, WHICH IS CENTRAL TO ANY COLLEGIATE EXPERIENCE. OUR COMPREHENSIVE CURRICULUM IS DISTINCTLY CONTEMPORARY IN ITS CONTENT AND APPROACH, AND COVERS THE PRINCIPAL MUSICAL MOVEMENTS OF OUR TIME. THROUGH A COURSE OF SCHOLARLY AND PRACTICAL LEARNING EXPERIENCES INTEGRATING PERFORMANCE AND WRITING, OUR CURRICULUM COVERS THE VARIETY OF INFLUENTIAL STYLES, RELEVANT TECHNOLOGIES, AND CAREER OPPORTUNITIES OPEN TO TODAY'S MUSIC PROFESSIONAL. *OBJECTIVES* TO DEFINE AND REFINE THE INDIVIDUAL TALENTS OF OUR STUDENTS BY PROVIDING A BROAD RANGE OF MAJOR PROGRAMS OFFERED BY A DISTINGUISHED FACULTY, AND TO PREPARE THEM FOR CAREERS IN MUSIC THAT REFLECT THE DIVERSITY OF EXPRESSION AND OPPORTUNITIES THAT DEFINE MUSIC TODAY. TO ENABLE OUR STUDENTS TO EMPLOY THEIR MUSICAL EDUCATION IN A GLOBAL SOCIETY BY PROVIDING A COHERENT LIBERAL ARTS CURRICULUM THAT INFORMS THEIR THINKING ABOUT ISSUES THAT HAVE SHAPED OUR TIME. TO ENCOURAGE OUR STUDENTS TO APPRECIATE AND APPLY MUSIC'S ENORMOUS FORCE FOR THE ENRICHMENT OF SOCIETY AND INTERCULTURAL UNDERSTANDING. TO CULTIVATE A SUPPORTIVE LEARNING ENVIRONMENT BY ACTIVELY PROMOTING A CLIMATE OF RESPECT FOR PERSONAL AND CULTURAL DIFFERENCES, AND BY OFFERING A RANGE OF SERVICES AND ACTIVITIES TO SUPPORT THE NEEDS OF THE STUDENT MUSICIANS WHO COME TO US FROM AROUND THE WORLD. TO MAINTAIN THE VITALITY OF OUR COLLEGE COMMUNITY BY ENCOURAGING AND SUPPORTING CONTINUING PROFESSIONAL DEVELOPMENT FOR ALL OF ITS MEMBERS. TO PROVIDE AN ENVIRONMENT IN WHICH ALL KNOW THAT THEY ARE FULL AND VALUED MEMBERS OF THE COMMUNITY. TO VALUE ETHICAL BEHAVIOR IN ALL ASPECTS OF PERSONAL AND PROFESSIONAL LIFE BY ESTABLISHING A COMMUNITY THAT VALUES INTEGRITY IN ALL RELATIONSHIPS. TO RETAIN OUR LEADERSHIP POSITION IN MUSIC EDUCATION AND TO ENSURE THAT OUR CURRICULUM REMAINS RELEVANT BY PLEDGING TO VALUE ACADEMIC FREEDOM AND INNOVATION. *PHILOSOPHY* BERKLEE WAS FOUNDED ON TWO REVOLUTIONARY IDEAS: THAT MUSICIANSHIP COULD BE TAUGHT THROUGH THE MUSIC OF THE TIME; AND THAT OUR STUDENTS NEED PRACTICAL, PROFESSIONAL SKILLS FOR SUCCESSFUL, SUSTAINABLE MUSIC CAREERS. WHILE OUR BEDROCK PHILOSOPHY HAS NOT CHANGED, THE MUSIC AROUND US HAS AND REQUIRES THAT WE EVOLVE WITH IT. FOR OVER HALF A CENTURY, WE'VE DEMONSTRATED OUR COMMITMENT TO THIS APPROACH BY WHOLEHEARTEDLY EMBRACING CHANGE. WE UPDATE OUR CURRICULUM AND TECHNOLOGY TO MAKE THEM MORE RELEVANT, AND ATTRACT DIVERSE STUDENTS WHO REFLECT THE MULTIPLICITY OF INFLUENCES IN TODAY'S MUSIC. WE PREPARE OUR STUDENTS FOR A LIFETIME OF PROFESSIONAL AND PERSONAL GROWTH THROUGH THE STUDY OF THE ARTS, SCIENCES, AND HUMANITIES. AND WE ARE DEVELOPING NEW INITIATIVES TO REACH AND INFLUENCE AN EVER-WIDENING AUDIENCE. MORE THAN A COLLEGE, BERKLEE HAS BECOME THE WORLD'S SINGULAR LEARNING LAB FOR THE MUSIC OF TODAY-AND TOMORROW. WE ARE A MICROCOSM OF THE MUSIC WORLD, REFLECTING THE INTERPLAY BETWEEN MUSIC AND CULTURE; AN ENVIRONMENT WHERE ASPIRING MUSIC PROFESSIONALS LEARN HOW TO INTEGRATE NEW IDEAS, ADAPT TO CHANGING MUSICAL GENRES, AND SHOWCASE THEIR DISTINCTIVE SKILLS IN AN EVOLVING COMMUNITY. WE ARE AT THE CENTER OF A WIDENING NETWORK OF INDUSTRY PROFESSIONALS WHO USE THEIR OPENNESS, VIRTUOSITY, AND VERSATILITY TO TAKE MUSIC IN SURPRISING NEW DIRECTIONS. FAMILY AND BUSINESS RELATIONSHIPS PART VI, SECTION A, QUESTION 2 SEVERAL TRUSTEES HAVE ENGAGED IN A BUSINESS TRANSACTION WITH ANOTHER TRUSTEE. THESE TRANSACTIONS OCCUR IN THE ORDINARY COURSE OF BUSINESS. TRUSTEE WILLIAM LYNCH EMPLOYS ANOTHER FORMER TRUSTEE, ALAN MCLEAN, IN HIS FIRM. FORM 990 REVIEW PROCESS PART VI, SECTION B, QUESTION 11A THE FORM 990 IS PREPARED AND REVIEWED BY THE CONTROLLER'S DEPARTMENT AND REVIEWED BY THE COLLEGE'S TAX ADVISORS. UPON COMPLETION, THE DRAFT FORM 990 IS DISTRIBUTED TO THE MEMBERS OF THE AUDIT & FISCAL CONTROLS COMMITTEE FOR THEIR REVIEW AND COMMENTS. ONCE THE DRAFT IS APPROVED BY THE COMMITTEE, THE FINAL FORM 990 IS DISTRIBUTED TO THE FULL BOARD. CONFLICT OF INTEREST POLICY PART VI, SECTION B, QUESTION 12C THE PURPOSE OF THE CONFLICTS OF INTEREST POLICY IS TO PROTECT THE COLLEGE'S INTEREST WHEN IT IS ENTERING INTO A TRANSACTION OR ARRANGEMENT THAT MIGHT BENEFIT THE PRIVATE INTEREST OF AN INTERESTED PERSON. AN INTERESTED PERSON IS DEFINED AS ANY PERSON WHO IS OR WAS DURING THE PREVIOUS FIVE YEARS IN A POSITION TO EXERCISE SUBSTANTIAL INFLUENCE OVER THE COLLEGE'S AFFAIRS, INCLUDING ANY TRUSTEE, OFFICER, SUBSTANTIAL DONOR, SENIOR MANAGER OR MEMBER OF A COMMITTEE WITH BOARD-DELEGATED POWERS (EACH A "FIDUCIARY"). IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, A FIDUCIARY WILL DISCLOSE ALL MATERIAL FACTS TO THE PRESIDENT OR CHAIR AT THE EARLIEST POSSIBLE TIME AFTER THE CONFLICT OF INTEREST BECOMES KNOWN TO THE FIDUCIARY. ANY CONFLICT WILL BE MADE A MATTER OF RECORD THROUGH ANNUAL OR OTHER REPORTING AND CERTIFICATION PROCEDURE AS THE TRUSTEES REQUIRE FROM TIME TO TIME. AFTER DISCLOSURE OF THE CONFLICT OF INTEREST AND AFTER ANY DISCUSSION WITH THE RELEVANT FIDUCIARY, THE TRUSTEES SHALL FINALLY DETERMINE WHETHER ANY CONFLICT OF INTEREST EXISTS. IF A CONFLICT OF INTEREST IS DETERMINED TO EXIST, THE TRUSTEES MAY TAKE ACTIONS AS DEFINED IN THE BYLAWS OF THE COLLEGE. COMPENSATION POLICY PART VI, SECTION B, QUESTION 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES, SITTING AS THE COMPENSATION COMMITTEE, HAS THE AUTHORITY TO ESTABLISH FAIR AND APPROPRIATE COMPENSATION PACKAGES TO BE AWARDED TO THE PRESIDENT AND OTHER HIGHLY COMPENSATED ADMINISTRATORS OF THE COLLEGE. IN DETERMINING THE EXECUTIVE COMPENSATION PACKAGES, THE EXECUTIVE COMMITTEE CONSIDERS COMPARATIVE DATA, OBTAINED FROM PUBLISHED SOURCES OR A COMPENSATION CONSULTANT, REFLECTING THE COMPENSATION LEVELS AWARDED TO EQUIVALENTLY SITUATED INDIVIDUALS EMPLOYED BY COMPARABLE INSTITUTIONS. THE EXECUTIVE COMMITTEE REPORTS THE PROCESS AND AWARDING OF COMPENSATION PACKAGES TO THE BOARD OF TRUSTEES. WHEN THE COMPENSATION COMMITTEE IS MEETING, THE PRESIDENT DOES NOT PARTICIPATE. PUBLIC DISCLOSURE PART VI, SECTION C, QUESTION 19 THE COLLEGE MAKES THE DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS AVAILABLE UPON WRITTEN REQUEST. THE COLLEGE'S FORM 990 IS ALSO AVAILABLE ONLINE AT WWW.GUIDESTAR.ORG. OTHER CHANGES IN NET ASSETS PART XI, LINE 5 UNREALIZED GAIN ON INVESTMENTS (20,030,671) PENSION OBLIGATION CHANGES OTHER THAN NET PERIODIC COSTS (20,554,129) BERKLEE VALENCIA PRIOR YEAR NET ASSETS 1,687,885 OTHER 1,140 TOTAL (38,895,775) PURPOSE OF BOND ISSUES SCHEDULE K, PART I PROCEEDS OF THE BONDS WERE USED AS FOLLOWS: (1) $99,663,209 FOR EQUIPMENT PURCHASES, BUILDING RENOVATIONS, ONLINE COURSE DEVELOPMENT, OTHER BUDGETED CAPITAL EXPENDITURES AT THE COLLEGE'S EXISTING FACILITIES, AND TO ACQUIRE AND RENOVATE ADDITIONAL REAL PROPERTY AND PAY FOR CAMPUS MASTER PLANNING EXPENSES. (2) $72,610,864 TO REFINANCE OUTSTANDING DEBT BONDS ISSUED ON 8/14/97 AND 7/24/03. (3) $1,235,927 TO PAY FOR BOND ISSUANCE COSTS. PROCEDURES TO TAKE CORRECTIVE ACTION SCHEDULE K, PART V THE COLLEGE MONITORS THEIR TAX EXEMPT BONDS TO ENSURE THAT VIOLATIONS OF FEDERAL TAX REQUIREMENTS ARE TIMELY IDENTIFIED AND CORRECTED THROUGH THE VOLUNTARY CLOSING AGREEMENT PROGRAM IF SELF-REMEDIATION IS NOT AVAILABLE. THE COLLEGE PLANS TO HAVE WRITTEN PROCEDURES IN PLACE BY THE END OF MAY 31, 2013. HOWEVER, NO WRITTEN PROCEDURES WERE IN PLACE AT MAY 31, 2012. BERKLEE VALENCIA SL PALAU DE LES ARTS REINA SOFA AVENIDA AUTOPISTA DEL SALER, 1 VALENCIA SP 46013 999999999 EDUCATION SP BERKLEE US C CORP 642961 3557856 1.00000 false false false true false false false false false false false false false true false false false false BERKLEE VALENCIA SL D 6057258 SEE PART VII BERKLEE VALENCIA SL N 198452 SEE PART VII METHOD OF DETERMINING AMOUNT INVOLVED PART V, LINE 2 THE METHOD FOR DETERMINING THE AMOUNT INVOLVED WAS COST OR CURRENCY CONVERSION.