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 042126597 THE BOSTON CONSERVATORY 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 42124972 0 X BOSTONCONSERVATORY.EDU X 1927 MA 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. 28 27 683 28 0 0 4258656 3988641 26058589 29273378 213729 353987 95853 167186 30626827 33783192 6662731 7593344 0 0 11739617 12647168 53830 48720 1105072 8265483 9961544 26721661 30250776 3905166 3532416 42954882 45034147 19156649 17257222 23798233 27776925 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 26490880 7593344 29435245 A CONSERVATORY OF MUSIC, DANCE AND MUSIC THEATRE, SERVING OVER 712 STUDENTS, OFFERING DEGREES IN BACHELORS IN MUSIC, BACHELORS IN FINE ARTS, AND MASTERS IN MUSIC AND MUSIC EDUCATION. 26490880 1 1 0 0 0 0 0 0 1 1 0 0 1 1 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 1 0 0 0 0 1 0 0 0 0 1 174 0 1 683 1 0 0 0 0 0 1 1 0 0 0 0 X 28 27 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 RICHARD ORTNER 40.00 X X 337699 0 20536 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 JOSEPH H ZWICKER 1.00 X 0 0 0 MIMI HEWITT 1.00 X 0 0 0 RON ANCRUM 1.00 X 0 0 0 ELIZABETH S BOVEROUX 1.00 X 0 0 0 DAVI-ELLEN CHABNER 1.00 X 0 0 0 CAROLINE M COLLINGS 1.00 X 0 0 0 CYNTHIA CURME 1.00 X 0 0 0 JOANNE W DICKINSON 1.00 X 0 0 0 DIANA DOHRMANN 1.00 X 0 0 0 GAIL S FLATTO 1.00 X 0 0 0 JEFFREY HALSAVER 1.00 X 0 0 0 DONALD F JEMELLA 1.00 X 0 0 0 BJ KRINTZMAN 1.00 X 0 0 0 MICHAEL LONGTHORNE 1.00 X 0 0 0 KELLY C MCKERNAN 1.00 X 0 0 0 GARY R MIKULA 1.00 X 0 0 0 CHARLOTTE P NEWTON 1.00 X 0 0 0 ANTHONY PANGARO 1.00 X 0 0 0 SUZANNE H ROLLERT 1.00 X 0 0 0 DIANA SCOTT 1.00 X 0 0 0 DAVID SCOTT SLOAN 1.00 X 0 0 0 PETER J WENDER 1.00 X 0 0 0 GEORGE C WHITE 1.00 X 0 0 0 MARILLYN ZACHARIS 1.00 X 0 0 0 CHARLES PETIT 40.00 X 110260 0 12452 PATRICIA HOY 40.00 X 148076 0 14722 KARL PAULNACK 40.00 X 108187 0 12392 CARMEN GRIGGS 40.00 X 106487 0 12226 NEIL DONOHOE 40.00 X 100732 0 11881 911441 0 84209 6 0 1 0 NORTHEASTERN UNIVERSITY 360 HUNTINGTON AVE BOSTON MA 02115 GYM/FITNESS/FOOD SERVICE 1223417 UGL UNICCO 275 GROVE ST SUITE 3-200 AUBURNDALE MA 02466 HOUSEKEEPING 707967 ABICHAKER BUILDING TECHNOLOGY 151 STRATFORD ST WEST ROXBURY MA 02132 CONSTRUCTION 369043 LONGWOOD SECURITY SERVICES INC 2 BROOKLINE PLACE SUITE 203 BROOKLINE MA 02445 SECURITY 357280 BUILDING MAINTENANCE CORP P O BOX 3118 PEABODY MA 01961 ROOFING 319694 5 193403 3795238 40464 3988641 TUITION AND FEES 611110 25378048 25378048 ROOM & BOARD 611110 3466427 3466427 PERFORMANCE & PROGRAMS 611110 350858 350858 OTHER AUXILLARY INCOME 611110 78045 78045 29273378 307734 307734 14818 14818 14818 14818 8297517 8251264 46253 46253 46253 81017 193403 90516 -9499 -9499 MISCELLANEOUS INCOME 900099 161867 161867 161867 33783192 29435245 0 359306 7593344 7593344 506686 429840 76846 10157087 8885639 816106 455342 380224 328030 31739 20455 861927 712697 115025 34205 741244 627707 76470 37067 35649 11037 19908 4704 43770 43770 48720 48720 362719 170984 156332 35403 254446 159528 53620 41298 429758 296286 62815 70657 1941111 1811987 122358 6766 290495 268368 15613 6514 847897 565060 142302 140535 949377 895263 48418 5696 291509 12523 277498 1488 FOOD SERVICES 1484372 1421989 23508 38875 EVENTS 788718 757788 19410 11520 MAINTENANCE AND HOUSEKE 743505 721333 19863 2309 REPAIRS AND MAINTENANCE 439780 356771 67242 15767 SECURITY 362940 350493 11387 1060 695498 544053 101600 49845 30250776 26490880 2654824 1105072 290983 541995 1440373 606155 2948127 3541644 112136 254198 21211 55627 21405 15564 491889 555947 17353575 11239469 5641770 6114106 6907351 8217924 25079637 25130987 42954882 45034147 1448910 1525124 1061144 1504549 16461667 14020866 184928 206683 19156649 17257222 X 19440194 21895011 3993859 5516774 364180 365140 23798233 27776925 42954882 45034147 X 3532416 446276 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6808887 868860 617922 48600 36540 8210529 4536887 1964662 368791 47600 13853 6808887 5391975 135026 -871779 63600 54735 4536887 0.62290 0.37710 0.00000 0 0 80161 80161 10154463 6604335 3550128 1198687 740076 458611 5284968 3895058 1389910 635296 635296 6114106 REALTY CORPORATION RECEIVABLE 3327181 LEVERAGE LOAN RECEIVABLE AND INTEREST 21803806 25130987 CAPITAL LEASE OBLIGATION 206683 206683 33783192 30250776 3532416 446276 446276 3978692 26726640 446276 90516 536792 26189848 7593344 7593344 33783192 22747948 90516 90516 22657432 7593344 7593344 30250776 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: THE STANDARDS FOR ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REQUIRE THE CONSERVATORY TO REPORT ANY UNCERTAIN TAX POSITIONS AND TO ADJUST ITS CONSOLIDATED FINANCIAL STATEMENTS FOR THE IMPACT THEREOF. AS OF JUNE 30, 2011, 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 XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES NET WITH REVENUE ON THE 990 90,516. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID NET WITH REVENUE ON THE AUDIT 7,593,344. PART XIII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES NET WITH REVENUE ON THE 990 90,516. PART XIII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID NET WITH REVENUE ON THE AUDIT 7,593,344. 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 THE COLLEGE INCLUDED A STATEMENT OF ITS RACIALLY NONDISCRIMINATORY POLICY REGARDING STUDENTS IN ALL BROCHURES AND CATALOGS DEALING WITH STUDENT ADMISSIONS, PROGRAMS AND SCHOLARSHIPS. THE COLLEGE CUSTOMARILY DRAWS A SUBSTANTIAL PERCENTAGE OF ITS STUDENTS NATIONWIDE AND WORLDWIDE. FURTHER, THE COLLEGE INCLUDES A REFERENCE TO ITS RACIALLY NONDISCRMINIATORY POLICY IN OTHER WRITTEN ADVERTISING USED AS A MEANS OF INFORMING PROSPECTIVE STUDENTS OF ITS PROGRAMS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE COLLEGE PARTICIPATES IN THE STUDENT FINANCIAL ASSISTANCE PROGRAMS OF THE DEPARTMENT OF EDUCATION AND RECEIVED FUNDS FOR THE FOLLOWING PROGRAMS: FEDERAL FAMILY EDUCATION LOANS FEDERAL WORK STUDY FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT FEDERAL PELL GRANT ACADEMIC COMPETITIVENESS GRANTS AID FROM STATE AGENCIES IN ADDITION TO THE ABOVE FEDERAL FINANCIAL AID PROGRAMS, THE COLLEGE PARTICIPATES AND RECEIVED STATE GRANTS FOR ITS STUDENTS FROM VARIOUS STATES INCLUDING: MASSACHUSETTS NEW HAMPSHIRE VERMONT PENNSYLVANIA WASHINGTON, D.C. X X X X X X X 1 MARY GIURLEO 5 POLAR BEAR DRIVE WESTFORD MA 01886 GRANTSWRITER 0 1591321 48720 1542601 1591321 48720 1542601 MA GALA 274420 193403 81017 15170 35136 40210 274420 193403 81017 15170 35136 40210 90516 -9499 1 PELL 107 452363 SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS 86 143838 ACADEMIC COMPETITIVENESS GRANT 43 29775 STATE GRANTS 23 21102 FEDERAL WORK STUDY 95 135201 FEDERAL DIRECT LOANS 424 8757397 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: FEDERAL FUNDS ARE MONITORED AS FOLLOWS: - DIRECTOR OF FINANCIAL AID DETERMINES STUDENT ELIGIBILITY FOR PELL, SEOG, FWS, ACADEMIC COMPETITIVENESS AND FEDERAL LOANS. - DIRECTOR OF FINANCIAL AID POSTS STUDENT AWARDS INTO OUR INTEGRATED STUDENT RECORD SYSTEM (CAMPUS). - BURSAR PRINTS/DISTRIBUTES STUDENT BILLING STATEMENT WHICH INCLUDES FEDERAL AWARDS. - DIRECTOR OF FINANCIAL AID DRAWS DOWN FUNDS FROM FEDERAL WEBSITE. - CFO ALERTS BURSAR AND DIRECTOR OF FINANCIAL AID FUNDS RECEIVED. - DIRECTOR OF FINANCIAL AID AND BURSAR POST RECEIPT OF FEDERAL FUNDS TO THE STUDENT ACCOUNT IN OUR INTEGRATED STUDENT RECORD SYSTEM (CAMPUS). - SENIOR ACCOUNTANT RECORDS CASH RECEIPTS ON CASH RECEIPT JOURNAL ENTRY REVIEWED BY CFO. - CFO RECONCILES STUDENT RECEIVABLE ACCOUNT IN GENERAL LEDGER TO THE BILLING SYSTEM. X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 RICHARD ORTNER 201252 0 100000 0 36447 0 14700 0 5836 0 358235 0 0 0 PATRICIA HOY 148076 0 0 0 0 0 8885 0 5837 0 162798 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. MASSACHUSETTS INDUSTRIAL DEVELOPMENT FINANCING AUTHORITY 043431814 NONEAVAIL 2009-04-30 13000000 CONSTRUCTION 0 0 0 MASSACHUSETTS INDUSTRIAL DEVELOPMENT FINANCING AUTHORITY 043431814 NONEAVAIL 2009-04-30 6200000 CONSTRUCTION 0 0 0 31645 13000000 1219725 13000000 2010 0 0 1 1 5147489 6200000 293644 6200000 2010 0 0 1 1 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 1 0 1 0 0 0 1 X 5 39689 FMV X THEATER PROPS AND WINE 2 775 FMV 0 0 1 THIRD PARTY USE: PART I, LINE 32B: THE COLLEGE UTILIZES A THIRD PARTY TO SELL NON-CASH CONTRIBUTIONS IN THE FORM OF PUBLICLY TRADED SECURITIES. GIFTS OF PUBLICLY-TRADED SECURITIES WILL BE RECEIPTED AT THE AVERAGE OF THE HIGH AND LOW MARKET VALUE ON THE DATE THE DONOR RELINQUISHED CONTROL OF THE ASSETS IN FAVOR OF THE COLLEGE BY DELIVERING SUCH SECURITIES TO THE DEVELOPMENT OFFICE AND/OR BY ARRANGING AN ELECTRONIC TRANSFER BETWEEN THE DONOR'S BROKER AND THE CONSERVATORY'S ACCOUNT DESIGNATED TO RECEIVE SUCH GIFTS. THE COLLEGE WILL NOT RECEIVE OR PROCESS PROPOSED TRANSFERS OF STOCK THAT HAVE NO CURRENT MARKET VALUE (I.E. WORTHLESS STOCK) AT THE TIME A TRANSFER TO THE CONSERVATORY IS PROPOSED. THE COLLEGE WILL SELL PUBLICLY-TRADED SECURITIES WHEN RECEIVED AND REINVEST THE SALE PROCEEDS ACCORDING TO THE CURRENT GUIDELINES APPROVED BY THE INVESTMENT COMMITTEE OF THE BOARD OF TRUSTEES. ALL OTHER NON-CASH CONTRIBUTIONS ARE REVIEWED BY THE GIFT ACCEPTANCE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11 THE CONSERVATORY'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 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 446,276. THE BOSTON CONSERVATORY REALTY CORP 8 THE FENWAY BOSTON MA 02215 263644206 HOLD AND MANAGE REAL ESTATE MA 501(C)(3) LINE 11A, I N/A 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 THE BOSTON CONSERVATORY REALTY CORPORATION D 3327181 LOAN PAYABLE BALANCE AT 6/30/11 THE BOSTON CONSERVATORY REALTY CORPORATION J 320000 RENT EXPENSE PAID IN FY11