2012-03-01T09:59:29-06:00 2011-06-30 ALEXANDER ARONSON FINNING & CO PC 21 EAST MAIN STREET WESTBORO MA 01581 990 2010-07-01 263644206 THE BOSTON CONSERVATORY REALTY CORPORATION BOST 6175366340 8 THE FENWAY BOSTON MA 02215 RICHARD ORTNER PRESIDENT 6175366340 2012-01-03 1 THOMAS WASHBURN CPA 5083669100 2010 2016-02-24 21:20:13Z RICHARD ORTNER 8 THE FENWAY BOSTON MA 02215 345493 0 X N/A X 2008 MA TO ACQUIRE, FINANCE, DEVELOP AND LEASE A PERFORMING ARTS CENTER TO THE BOSTON CONSERVATORY. 5 4 0 0 0 0 0 0 345000 338747 0 6746 0 0 345000 345493 0 0 0 0 0 0 0 0 0 489561 1366969 489561 1366969 -144561 -1021476 38055548 32265986 38174177 33406091 -118629 -1140105 TO ACQUIRE, FINANCE, DEVELOP AND LEASE A PERFORMING ARTS CENTER TO THE BOSTON CONSERVATORY. 0 0 1366969 338747 THE BOSTON CONSERVATORY REALTY CORP WAS FORMED TO ACQUIRE, FINANCE AND LEASE TO THE BOSTON CONSERVATORY THE PERFORMING ARTS CENTER AT 31 AND 27 HEMENWAY STREET BOSTON MASSACHUETTS ("THE PROJECT"). THE PROJECT EMCOMPASSES AN EXISTING THEATRE BUILDING, WHICH UNDERWENT A COMPLETE RENOVATION AND THE CONSTRUCTION OF A MAJOR ADDITION WHICH INCLUDES THREE NEW THEATRE/DANCE STUDIOS AND AN ORCHESTRAL REHEARSAL HALL. THE REALTY CORP ACQUIRED THE LAND AND EXISTING THEATRE FROM THE CONSERVATORY IN 2009 AND SUBSEQUENTLY BEGAN THE RENOVATION AND CONSTRUCTION PROJECT. DURING FISCAL YEAR 2011, THE REALTY CORPORATION COMPLETED THE CONSTRUCTION AND EXPANSION OF THE 40,000 SQUARE FEET OF PERFORMANCE AND REHEARSAL SPACE FOR THEATER, MUSIC AND DANCE. 1366969 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 14 0 1 0 0 0 0 0 0 0 0 0 0 0 0 X 5 4 0 0 0 0 1 1 0 1 0 0 0 1 1 1 1 1 0 0 0 0 MA X X ERIC NORMAN VP OF FINANCE AND PLANNING 6175366340 8 THE FENWAY BOSTON MA 02215 ALFRED D HOUSTON 1.00 X X 0 0 0 CURTIS R KEMENY 1.00 X X 0 0 0 KIRK L RAMSAUER 1.00 X X 0 0 0 RICHARD ORTNER 1.00 X X 0 337699 20536 JOSEPH ZWICKER 1.00 X 0 0 0 0 337699 20536 0 0 1 0 LEE KENNEDY CO INC 122 QUINCY SHORE DRIVE BOSTON MA 02215 CONSTRUCTION 7310970 HANDEL ARCHITECTS LLP 150 VARICK STREET 8TH FLOOR NEW YORK NY 10013 ARCHITECTURE 204954 KV ASSOCIATES INC 303 CONGRESS STREET BOSTON MA 02210 BUILDING INDUSTRY CONSULTANT 109333 3 RENTAL INCOME 900099 338747 338747 338747 6746 6746 345493 338747 0 6746 7500 7500 1017 1017 13248 13248 16674 16674 724 724 243750 243750 987766 987766 68 68 RELOCATION COSTS 47220 47220 MISCELLANEOUS 45286 45286 INSTRUMENT EXPENSE 2976 2976 MINOR EQUIPMENT 740 740 1366969 1366969 0 0 10752169 382101 56553 181896 30800244 925413 3124461 29874831 24122365 1827158 38055548 32265986 5538560 802243 26667 26667 29250000 29250000 3358950 3327181 38174177 33406091 X -118629 -1140105 -118629 -1140105 38055548 32265986 -1021476 0 X 0 1 1 X 0 X X X X 0 0 0 THE BOSTON CONSERVATORY 042126597 2 1 1 1 0 1 0 851453 851453 27541510 673560 26867950 18245 18245 0 2246012 229402 2016610 143024 4206 138818 29874831 DEBT ISSUE COSTS 1827158 1827158 CONSERVATORY LOAN PAYABLE 3327181 3327181 345493 1366969 -1021476 -1021476 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE STANDARDS FOR ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REQUIRE THE BOSTON CONSERVATORY REALTY CORPORATION (TBCR) TO REPORT ANY UNCERTAIN TAX POSITIONS AND TO ADJUST ITS CONSOLIDATED FINANCIAL STATEMENTS FOR THE IMPACT THEREOF. AS OF JUNE 30, 2011, TBCR 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. TBCR 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. 0 0 0 0 0 0 0 0 0 RICHARD ORTNER 0 201252 0 100000 0 36447 0 14700 0 5836 0 358235 0 0 PART I, LINE 1A A HOUSING AND CAR ALLOWANCE IS PROVIDED TO THE PRESIDENT. THE BOARD OF TRUSTEES VOTED TO APPROVE THE AMOUNT OF THE HOUSING ALLOWANCE FOR THE PRESIDENT. FORM 990, PART VI, SECTION A, LINE 6 THE BOSTON CONSERVATORY REALTY CORPORATION'S SOLE MEMBER IS THE BOSTON CONSERVATORY. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BODY OF THE BOSTON CONSERVATORY REALTY CORPORATION CONSISTS OF THE CHAIR, VICE CHAIR, TREASURER, CLERK AND PRESIDENT OF THE BOSTON CONSERVATORY. FORM 990, PART VI, SECTION A, LINE 8B ALL BUSINESS IS TRANSACTED BY THE GOVERNING BODY. THERE ARE NO SUBCOMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11 THE BOSTON CONSERVATORY REALTY CORPORATION'S FORM 990, WHICH IS PREPARED BY AN OUTSIDE CPA, IS REVIEWED BY MANAGEMENT FOR COMPLETENESS AND ACCURACY. IT IS THEN REVIEWED BY THE CONSERVATORY'S AUDIT COMMITTEE, WHICH APPROVES THE FORM 990 FOR FILING. ALL BOARD MEMBERS RECEIVED A COPY BEFORE 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 ALSO APPLIES TO ALL TRUSTEES AND SENIOR EXECUTIVES OF THE BOSTON CONSERVATORY REALTY CORPORATION. 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 POTENTIAL CONFLICTS OF INTEREST. THEREFORE, NO RESTRICTIONS HAVE BEEN IMPOSED ON ANY TRUSTEES AND SENIOR EXECUTIVES. FORM 990, PART VI, SECTION C, LINE 19 THE BOSTON CONSERVATORY REALTY CORPORATION WILL CONSIDER REQUESTS FOR COPIES OF GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS. FORM 990, PART VII, SECTION B RICHARD ORTNER, PRESIDENT, DEVOTES AN ESTIMATED 1 HOUR PER WEEK TO TBCR, WHILE HE ALSO DEVOTES AN ESTIMATED 40 HOURS PER WEEK TO TBC AS PRESIDENT. FORM 990, PART XII, LINE 2C THE BOSTON CONSERVATORY REALTY CORPORATION UTILIZES ITS BOARD OF TRUSTEES TO ASSUME RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT. FORM 990, PART VI, SECTION B, LINE 15 THE BOSTON CONSERVATORY REALTY CORPORATION HAS NO EMPLOYEES. OFFICERS AND DIRECTORS RECEIVE NO COMPENSATION FROM THE BOSTON CONSERVATORY REALTY CORPORATION. ANY COMPENSATION IS PAID BY THE BOSTON CONSERVATORY. FORM 990, PART XII, LINE 2B THE BOSTON CONSERVATORY PREPARES CONSOLIDATED FINANCIAL STATEMENTS WHICH INCLUDES THE ACCOUNTS OF THE BOSTON CONSERVATORY REALTY CORPORATION. THE CONSOLIDATED AND REALTY CORPORATION ARE AUDITED BY AN INDEPENDENT ACCOUNTING FIRM. STAND-ALONE FINANCIAL STATEMENTS FOR THE BOSTON CONSERVATORY REALTY CORPORATION ARE NOT ISSUED. THE BOSTON CONSERVATORY 8 THE FENWAY BOSTON MA 02215 042126597 EDUCATION MA 501(C)(3) LINE 2 N/A 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 THE BOSTON CONSERVATORY I 320000 RENTAL INCOME RECEIVED IN FY 2011 THE BOSTON CONSERVATORY E 3327181 LOAN PAYABLE BALANCE AT 6/30/11