2025-05-08T12:52:18-05:00 2024-06-30 991856619 GRANT THORNTON ADVISORS LLC 757 THIRD AVENUE 3RD FLOOR NEW YORK NY 100172013 990 2023-07-01 131624067 JUILLIARD SCHOOL JUIL 2127995000 60 LINCOLN CENTER PLAZA NEW YORK NY 10023 CATHY NADEAU VP & CFO 2127995000 2025-05-08 1 1 DANIEL ROMANO P00504182 2125990100 2023 2025-03-06 01:10:19Z DAMIAN WOETZEL 60 LINCOLN CENTER PLAZA NEW YORK NY 10023 753671942 0 X WWW.JUILLIARD.EDU X 1934 NY PROVIDE THE HIGHEST CALIBER OF ARTISTIC EDUCATION (SEE SCHEDULE O)FOR GIFTED MUSICIANS, DANCERS, AND ACTORS FROM AROUND THE WORLD. 34 33 2718 43 -512605 0 47449568 91920358 72672768 75315375 59525625 54808306 1574456 1613643 181222417 223657682 34555078 36536600 0 0 83254263 91189162 0 0 4009295 64248949 63773575 182058290 191499337 -835873 32158345 1555536376 1655872099 243603436 236089388 1311932940 1419782711 X THE MISSION OF THE JUILLIARD SCHOOL IS TO PROVIDE THE HIGHEST CALIBER OF ARTISTIC EDUCATION FOR GIFTED MUSICIANS, DANCERS, AND ACTORS FROM AROUND THE WORLD SO THAT THEY MAY ACHIEVE THEIR FULLEST POTENTIAL AS ARTISTS, LEADERS, AND GLOBAL CITIZENS. 0 0 97008391 0 54654716 JUILLIARD'S PRIMARY PROGRAM SERVICE ACCOMPLISHMENT IS PROVIDING INSTRUCTION IN MUSIC, DANCE, AND DRAMA TO APPROXIMATELY 1,200 STUDENTS IN ITS COLLEGE AND PRE-COLLEGE PROGRAMS. THE EXPENSES ASSOCIATED WITH PROVIDED INSTRUCTION INCLUDE COMPENSATION (SALARIES AND EMPLOYMENT BENEFITS) RELATING TO THE EDUCATIONAL FUNCTION OF THE SCHOOL, OCCUPANCY COSTS ALLOCABLE TO INSTRUCTION, TEACHING MATERIALS AND SERVICES, AND INSTRUMENT MAINTENANCE AND REPAIR. 35804975 35804975 0 PROVIDING FINANCIAL ASSISTANCE TO STUDENTS IS A HIGH PRIORITY OF THE SCHOOL, SO THAT FINANCIAL CIRCUMSTANCES WILL NOT BE A BARRIER TO ENTRY FOR ITS TALENTED MUSICIANS, ACTORS, AND DANCERS. STUDENT ASSISTANCE INCLUDES SCHOLARSHIPS, FELLOWSHIPS, PRIZES, CERTAIN GRANTS, AND FEDERAL AID GRANTS RECEIVED AND DISTRIBUTED TO ELIGIBLE STUDENTS. APPROXIMATELY 87% OF THE COLLEGE POPULATION OF THE SCHOOL (917 STUDENTS IN TOTAL) RECEIVED STUDENT ASSISTANCE DURING 2023-2024. 11182832 731625 7884177 DURING 2023-2024 THE SCHOOL SUPPORTED ITS MISSION OF HIGHER EDUCATION THROUGH PROGRAM SERVICES INDIRECTLY RELATED TO THE EDUCATION OF TALENTED MUSICIANS, ACTORS AND DANCERS. SUCH INDIRECT PROGRAM SERVICES INCLUDE SUPPORT OF STUDENT ACTIVITIES AND PROGRAMMING, AUXILIARY SERVICES SUCH AS THE JUILLIARD STORE AND THE STUDENT RESIDENCE HALL, AND EMPLOYEE BENEFIT COSTS. 3747481 0 13028132 INTERNATIONAL EDUCATION 6730442 0 543195 STUDENT PERFORMING ARTS PRODUCTION 10477923 0 13571327 154474121 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 0 1 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 557 0 1 2718 1 1 1 1 CH 0 0 0 1 1 0 0 0 0 1 1 X 34 33 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA NY X MICHAEL KERSTAN 2127995000 60 LINCOLN CENTER PLAZA NEW YORK NY 10023 DAMIAN WOETZEL PRESIDENT 50.00 0.00 X X 1275061 0 153968 VINCENT MAI CHAIRMAN 3.00 0.00 X 0 0 0 JULIE CHOI VICE CHAIR 2.00 0.00 X 0 0 0 LAURA LINNEY VICE CHAIR 2.00 0.00 X 0 0 0 JON BATISTE TRUSTEE 1.00 0.00 X 0 0 0 JOSHUA BLACK TRUSTEE 1.00 0.00 X 0 0 0 J POWELL BROWN TRUSTEE (AS OF 10/4/2023) 1.00 0.00 X 0 0 0 JEFFREY CAMPBELL TRUSTEE (AS OF 12/5/2023) 1.00 0.00 X 0 0 0 MARY SCHMIDT CAMPBELL TRUSTEE 1.00 0.00 X 0 0 0 RONDI CHARLESTON TRUSTEE 1.00 0.00 X 0 0 0 VIRGINIA GAMBALE TRUSTEE 1.00 0.00 X 0 0 0 JEFFREY GATES TRUSTEE (AS OF 10/4/2023) 1.00 0.00 X 0 0 0 JOAN HARRIS TRUSTEE 1.00 0.00 X 0 0 0 EDWARD JOHNSON JR TRUSTEE 1.00 0.00 X 0 0 0 JEROLD KAYDEN TRUSTEE (AS OF 2/6/2024) 1.00 0.00 X 0 0 0 PHILIPPE KHUONG-HUU TRUSTEE 1.00 0.00 X 0 0 0 J CHRISTOPHER KOJIMA TRUSTEE 1.00 0.00 X 0 0 0 TERESA LINDSAY TRUSTEE 1.00 0.00 X 0 0 0 ELLEN MARCUS TRUSTEE 1.00 0.00 X 0 0 0 STEPHANIE P MCCLELLAND TRUSTEE 1.00 0.00 X 0 0 0 CHRISTINA MCINERNEY TRUSTEE 1.00 0.00 X 0 0 0 ANNE AKIKO MEYERS TRUSTEE 1.00 0.00 X 0 0 0 LESTER MORSE JR TRUSTEE 1.00 0.00 X 0 0 0 REBECCA MORSE TRUSTEE 1.00 0.00 X 0 0 0 TRAM NGUYEN TRUSTEE (AS OF 10/4/2023) 1.00 0.00 X 0 0 0 SUSAN ROSE TRUSTEE 1.00 0.00 X 0 0 0 JEFFREY SELLER TRUSTEE 1.00 0.00 X 0 0 0 DEBORAH SIMON TRUSTEE 1.00 0.00 X 0 0 0 SARAH B SOLOMON TRUSTEE 1.00 0.00 X 0 0 0 WILLIAM STRICKER TRUSTEE 1.00 0.00 X 0 0 0 YAEL TAQQU TRUSTEE 1.00 0.00 X 0 0 0 LAURIE TISCH TRUSTEE 1.00 0.00 X 0 0 0 ROBERT WEISSENSTEIN TRUSTEE 1.00 0.00 X 0 0 0 CAMILLE ZAMORA TRUSTEE 1.00 0.00 X 0 0 0 LESLEY ROSENTHAL CHIEF OPERATING OFFICER 50.00 0.00 X 646359 0 94888 CATHY NADEAU VP & CHIEF FINANCIAL OFFICER 50.00 0.00 X 549857 0 99158 ALEXANDRA WHEELER VP & CHIEF ADVANCEMENT OFFICER 50.00 0.00 X 468418 0 85993 ADAM MEYER PROVOST & DEAN 50.00 0.00 X 364220 0 79788 JOSEPH W POLISI CHIEF CHINA OFFICER 50.00 1.00 X 363713 0 71634 STEPHANIE VULLO VP & GEN COUNSEL (THRU 9/24/2024) 50.00 0.00 X 274099 0 34835 ROSALIE P CONTRERAS VP PUBLIC AFFAIRS 50.00 0.00 X 322625 0 78865 EVAN D YIONOULIS DEAN & DIRECTOR, DRAMA DIVISION 50.00 0.00 X 307032 0 32575 DAVID LUDWIG DEAN & DIRECTOR, MUSIC DIVISION 50.00 0.00 X 304743 0 65616 WESTON SPROTT DEAN & DIRECTOR, PREPARATORY DIVISION 50.00 0.00 X 297094 0 44779 JOAN WARREN VP FOR ENROLLMENT & STUDENT DEVELOP. 50.00 0.00 X 280838 0 43279 ALICIA GRAF MACK DEAN & DIRECTOR, DANCE DIVISION 50.00 0.00 X 275618 0 51736 JANE GOTTLIEB VP LIBRARY AND INFORMATION RESOURCES 50.00 0.00 X 212558 0 55531 CHRISTIAN KECK CHIEF TECHNOLOGY OFFICER 50.00 0.00 X 315133 0 86744 BRIAN ZEGER ARTISTIC DIRECTOR,VOCAL ARTS 50.00 0.00 X 281550 0 47295 ROBERT MCDONALD COLLEGE STUDIO FACULTY 50.00 0.00 X 280478 0 45280 STEVEN LAITZ CHAIR, MUSIC THEORY AND ANALYSIS 50.00 0.00 X 275419 0 44767 HUNG-KUAN CHEN PIANO FACULTY 50.00 0.00 X 269133 0 57810 7363948 0 1274541 191 0 1 0 AROL MANAGEMENT LLC 444 EAST 75TH STREET NEW YORK NY 10021 CONSTRUCTION 4576676 YORKE CONSTRUCTION CORPORATION 140 WEST 31ST STREET NEW YORK NY 10001 CONSTRUCTION 3885086 INVESTURE LLC 126 GARRETT STREET SUITE J CHARLOTTESVILLE VA 22902 INVESTMENT MANAGEMENT 3354240 HURON CONSULTING GROUP INC PO BOX 71223 CHICAGO IL 606941223 CONSULTING 1588038 WESTERN WATERPROOFING COMPANY 720 GRAND AVENUE RIDGEFIELD NJ 07657 CONSTRUCTION 1360540 42 1546399 1208407 89165552 551055 91920358 TUITION & FEES 611310 53847544 53847544 INT'L PROGRAM DEV AND OPERATIONS 900099 13028132 13028132 RESIDENCE HALL 721310 7089332 6994092 95240 USER FEES, EDUCATION PROGRAM 611710 1350367 1350367 75315375 5996392 -512605 6508997 429192 0 429192 429192 429192 577169979 42379 528400444 0 48769535 42379 48811914 48811914 60900 1546399 423382 -362482 -362482 2080519 1190434 890085 890085 RECORDING INCOME 900099 40582 40582 VENDING MACHINE 900099 19572 19572 596694 596694 656848 223657682 76110220 -512605 56139709 36536600 36536600 7004125 3196802 2858167 949156 66821990 57235812 8124303 1461875 3616331 3097539 439677 79115 8336602 7140645 1013576 182381 5410114 4428614 804815 176685 900396 900396 255045 255045 3665100 3665100 4052694 2545899 1249368 257427 944586 282558 660730 1298 2577640 1644711 728323 204606 4849630 4849630 10619806 9557825 955783 106198 1650542 1501522 125141 23879 1067167 521890 345817 199460 8375370 7537833 753783 83754 13597007 12561901 933266 101840 2838978 2838978 AUXILIARY SERVICES 2081318 2081318 PERFORMANCE PRODUCTION 1749648 1749648 INSTRUMENT PURCH & MAIN 684372 684372 3864276 2168632 1514023 181621 191499337 154474121 33015921 4009295 12032800 13138688 15698479 64076279 7739004 5913845 252116 216557 1106385 1103563 14147416 13831249 336901685 187883670 148385756 149018015 166352229 148864690 1183350997 1253917802 6471194 5791411 1555536376 1655872099 27258645 26541204 1075673 929817 193201627 192955583 22067491 15662784 243603436 236089388 X 259695292 262340653 1052237648 1157442058 1311932940 1419782711 1555536376 1655872099 X 32158345 72082845 3608581 X 0 1 X 1 1 1 X 38377052 48891519 76927362 47449568 91920358 303565859 38377052 48891519 76927362 47449568 91920358 303565859 110938317 192627542 2195536 1260129 1076262 4228454 5996392 14756773 1497194 667374 1133217 2796831 2798267 8892883 327215515 346767958 0.58870 0.64750 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GROSS INCOME FROM FUNDRAISING - 2019 AMOUNT: $ 61,250. 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 5,680. 2022 AMOUNT: $ 66,040. 2023 AMOUNT: $ 60,900. GROSS SALES OF INVENTORY - 2019 AMOUNT: $ 1,315,506. 2020 AMOUNT: $ 621,566. 2021 AMOUNT: $ 1,035,923. 2022 AMOUNT: $ 1,514,513. 2023 AMOUNT: $ 2,080,519. VENDING MACHINE - 2019 AMOUNT: $ 10,701. 2020 AMOUNT: $ 5,306. 2021 AMOUNT: $ 10,713. 2022 AMOUNT: $ 9,940. 2023 AMOUNT: $ 19,572. CON-ED INITIATIVE CREDIT - 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 0. 2022 AMOUNT: $ 953,493. 2023 AMOUNT: $ 0. MISCELLANEOUS REVENUE - 2019 AMOUNT: $ 109,737. 2020 AMOUNT: $ 40,502. 2021 AMOUNT: $ 80,901. 2022 AMOUNT: $ 252,845. 2023 AMOUNT: $ 596,694. RECORDING INCOME - 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 0. 2022 AMOUNT: $ 0. 2023 AMOUNT: $ 40,582. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 0 PART II-B, LINE 1: THE JUILLIARD SCHOOL DOES NOT GENERALLY ENGAGE IN DIRECT LOBBYING. HOWEVER, AS AN EDUCATIONAL INSTITUTION, THE SCHOOL IS A MEMBER OF VARIOUS INDUSTRY ASSOCIATIONS THAT MAY LOBBY ON BEHALF OF THE INDUSTRY. WHILE THE JUILLIARD SCHOOL PAYS MEMBERSHIP DUES TO THESE ORGANIZATIONS, THE SCHOOL IS UNABLE TO DETERMINE THE MINIMAL AMOUNT THAT MAY BE ALLOCATED FOR THAT PURPOSE. X X X 0 1307671909 25309629 119202489 23462710 43842439 1384878878 1314816037 18902823 39371539 22470365 42948125 1307671909 1368674324 55898852 -50663095 20810010 38284034 1314816037 1052919649 5046730 369536022 19679585 39148492 1368674324 1092632637 3717439 12227898 18674249 36984076 1052919649 0.24250 0.75750 0.00000 0 0 2421438 2421438 33308239 29878476 3429763 251730002 126633307 125096695 34630144 31371887 3258257 14811862 14811862 149018015 PRIVATE EQUITY 645094169 F MULTI-STRATEGY 325105783 F GLOBAL EQUITY 276122219 F OTHER INVESTMENTS 7595631 F 1253917802 FAIR VALUE OF DERIVATIVE INSTRUMENTS 12456067 LIABILITIES TO ANNUITANTS 2567668 OPERATING LEASE LIABILITIES 480883 FEDERAL LOAN CAPITAL ADVANCES 158166 15662784 X 264825084 72082845 5786727 77869572 186955512 3665100 33037070 36702170 223657682 156975313 0 156975313 3665100 30858924 34524024 191499337 PART III, LINE 1A: COLLECTIONS OF ART, HISTORICAL TREASURERS THE SCHOOL'S COLLECTIONS COMPRISE RARE INSTRUMENTS AND MUSIC MANUSCRIPTS THAT ARE HELD FOR EDUCATIONAL AND CURATORIAL PURPOSES. EACH OF THE ITEMS IS CATALOGUED, PRESERVED AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. THE COLLECTIONS GENERALLY ARE SUBJECT TO A POLICY THAT REQUIRES PROCEEDS FROM THEIR SALES TO BE USED TO ACQUIRE OTHER ITEMS FOR COLLECTIONS. THE COLLECTIONS, WHICH WERE ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE SCHOOL'S INCEPTION, ARE NOT RECOGNIZED AS ASSETS IN THE BALANCE SHEETS. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN NET ASSETS WITHOUT DONOR RESTRICTIONS IN THE PERIOD IN WHICH THE ITEMS ARE ACQUIRED, OR AS DECREASES IN NET ASSETS WITH DONOR RESTRICTIONS IF THE ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS. CONTRIBUTED COLLECTION ITEMS ARE NOT REFLECTED IN THE FINANCIAL STATEMENTS. PROCEEDS FROM DEACCESIONS OR INSURANCE RECOVERIES ARE REFLECTED AS INCREASES IN THE APPROPRIATE NET ASSET CLASSES. THE VALUE OF THE SCHOOL'S COLLECTIONS IS PERIODICALLY ESTIMATED FOR INSURANCE PURPOSES. PART III, LINE 4: DESCRIPTION OF ORGANIZATION'S COLLECTION THE SCHOOL'S COLLECTIONS INCLUDE RARE MUSICAL INSTRUMENTS AND HISTORIC MUSIC MANUSCRIPTS. ACCESS TO THESE COLLECTIONS PROVIDES EXCEPTIONAL EDUCATIONAL OPPORTUNITIES TO THE STUDENTS ATTENDING THE SCHOOL AS THEY PREPARE FOR PROFESSIONAL CAREERS IN THE PERFORMING ARTS. ADDITIONALLY, THE COLLECTIONS ARE HELD FOR CURATORIAL PURPOSES, AS THEIR PRESERVATION AND ONGOING CARE IS ESSENTIAL TO ENSURING ACCESS TO THEM BY FUTURE GENERATIONS OF STUDENTS AND SCHOLARS. ON OCCASION IN CONNECTION WITH A RELEVANT PERFORMANCE, LECTURE, OR PRESENTATION, THE VIEWING AREA FOR THE COLLECTION ITEMS IS OPENED SO VISITORS TO THE SCHOOL MAY VIEW THE ITEMS. PART V, LINE 4: INTENDED USES OF ENDOWMENT FUNDS THE SCHOOL'S ENDOWMENT CONSISTS OF APPROXIMATELY 725 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING SCHOLARSHIPS AND STUDENT AID, EDUCATIONAL PROGRAMS, AND OTHER PURPOSES IN SUPPORT OF THE SCHOOL'S MISSION. PART X, LINE 2: INCOME TAXES THE SCHOOL RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE TAX POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. INCOME GENERATED FROM ACTIVITIES UNRELATED TO THE SCHOOL'S EXEMPT PURPOSE IS SUBJECT TO TAX UNDER INTERNAL REVENUE CODE SECTION 511. THE SCHOOL DID NOT RECOGNIZE ANY UNRELATED BUSINESS INCOME TAX LIABILITY FOR THE YEARS ENDED JUNE 30, 2024 AND 2023. SECTION 4968 OF THE TAX CUTS AND JOBS ACT IMPOSES A TAX ON APPLICABLE EDUCATIONAL INSTITUTIONS EQUIVALENT TO 1.4% OF THE INSTITUTION'S NET INVESTMENT INCOME FOR THE YEAR. THE SCHOOL DETERMINED THAT IT MEETS THE DEFINITION OF AN APPLICABLE EDUCATIONAL INSTITUTION AND RECORDED APPROXIMATELY $2,178,000 AND $506,000 OF TAX EXPENSE FOR THE YEARS ENDED JUNE 30, 2024 AND 2023, RESPECTIVELY, BASED ON REASONABLE ESTIMATES UNDER THE REGULATORY GUIDANCE; APPROXIMATELY $550,000 AND $325,000 OF WHICH IS ESTIMATED TO REPRESENT THE CURRENT PORTION OF THE TAX LIABILITY FOR THE YEARS ENDED JUNE 30, 2024 AND 2023, RESPECTIVELY. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 571,204. CHANGE IN FAIR VALUE OF DERIVATIVE INSTRUMENTS 5,215,523. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID GRANTS 32,049,358. JUILLIARD STORE COST OF SALES -1,190,434. ACCRUED ESTIMATED EXCISE TAX ON INVESTMENTS 2,178,146. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID GRANTS 32,049,358. JUILLIARD STORE COST OF SALES -1,190,434. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 UNDER REV PROC 75-50, 4.03(2)(B), THE SCHOOL WOULD SEEM TO BE EXEMPT IN THAT IT "CUSTOMARILY DRAWS A SUBSTANTIAL PERCENTAGE OF ITS STUDENTS NATIONWIDE OR WORLDWIDE FROM A LARGE GEOGRAPHIC SECTION OF THE U.S. AND FOLLOWS A RACIALLY NON-DISCRIMINATORY POLICY." THE SCHOOL'S POLICY OF NON DISCRIMINATION FOR ADMISSIONS AND FINANCIAL AID AWARDS IS CLEARLY STATED IN ADMISSIONS MATERIALS SENT TO ALL PROSPECTIVE STUDENTS. SCHEDULE E, PART I, LINE 6 THE SCHOOL REGULARLY PARTICIPATES IN THE FOLLOWING FEDERAL PROGRAMS: FWS, PELL GRANT, SEOG, FEDERAL DIRECT STUDENT LOANS, AND PERKINS LOANS. AT THE STATE LEVEL, IT HAS BEEN THE RECIPIENT OF NEW YORK AID TO NON-PUBLIC COLLEGES ("BUNDY FUNDS") AND LIBRARY GRANTS. DURING 2023-2024, THE SCHOOL ALSO RECEIVED FUNDS FROM THE HEERF ACT. EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES MEETINGS/PERFORMANCES 610782 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES MEETINGS/PERFORMANCES 300968 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES MEETINGS/PERFORMANCES 103778 SOUTH AMERICA 0 0 PROGRAM SERVICES MEETINGS/PERFORMANCES 43328 NORTH AMERICA 0 0 PROGRAM SERVICES MEETINGS/PERFORMANCES 21999 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES MEETINGS/PERFORMANCES 21789 RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES MEETINGS/PERFORMANCES 6898 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 343502769 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 8100 0 0 0 0 0 0 344612311 8100 344620411 1 0 1 0 1 0 PART IV THE JUILLIARD SCHOOL INVESTS IN DOMESTIC AND FOREIGN LIMITED PARTNERSHIPS THAT MAY OWN AN INTEREST IN A FOREIGN CORPORATION, PASSIVE FOREIGN INVESTMENT COMPANY, OR FOREIGN PARTNERSHIP. NEVERTHELESS, JUILLIARD'S INVESTMENT ACTIVITIES MAY NOT REACH THE THRESHOLDS REQUIRED FOR FILING THE FORMS 926, 5471, 8621, OR 8865. TO THE EXTENT SUCH A FORM WAS REQUIRED, IT HAS BEEN FILED WITH THE ORGANIZATION'S FORM 990-T. SPRING GALA 1607299 1546399 60900 215286 125040 45505 37551 1607299 1546399 60900 215286 125040 45505 37551 423382 -362482 1 STUDENT SCHOLARSHIPS 1013 32697592 FEDERAL FINANCIAL GRANTS & ALLOCATIONS 267 950354 FELLOWSHIPS 230 907907 PRIZES & LIVING EXPENSE GRANTS 222 1075658 CAREER AND OTHER GRANTS 228 905089 PART I, LINE 2: AS FEDERALLY MANDATED, THE SCHOOL PREPARES ANNUALLY A STUDENT COST OF ATTENDANCE BUDGET, WHICH INCLUDES TUITION, ROOM AND BOARD, AND AN ESTIMATE FOR THE COST OF BOOKS, SUPPLIES, TRANSPORTATION, AND PERSONAL EXPENSES. THE SCHOOL THEN AWARDS FEDERAL, STATE AND INSTITUTIONAL AID BASED UPON THE COST OF ATTENDANCE AND THE FAMILY'S EXPECTED CONTRIBUTION, AS DETERMINED BY THE FEDERAL NEEDS ANALYSIS FORMULA. STUDENTS DO NOT RECEIVE FUNDING IN EXCESS OF THE COST OF ATTENDANCE, AND IN CASES WHERE OUTSIDE GRANTS ARE RECEIVED, STUDENT SELF-HELP AID (I.E. LOANS AND WORK-STUDY) IS REDUCED FIRST TO ENSURE THAT AID IS NOT OVER-AWARDED. STUDENTS MUST DOCUMENT ADDITIONAL EDUCATIONALLY-RELATED EXPENSES IN ORDER TO RECEIVE FUNDING ABOVE THEIR UNMET NEEDS. X X 1 1 X X X X X 0 1 0 0 0 0 0 1 0 DAMIAN WOETZEL PRESIDENT 925798 0 347626 0 1637 0 120580 0 33388 0 1429029 0 319096 0 LESLEY ROSENTHAL CHIEF OPERATING OFFICER 644639 0 0 0 1720 0 48859 0 46029 0 741247 0 0 0 CATHY NADEAU VP & CHIEF FINANCIAL OFFICER 548137 0 0 0 1720 0 47020 0 52138 0 649015 0 0 0 ALEXANDRA WHEELER VP & CHIEF ADVANCEMENT OFFICER 466008 0 0 0 2410 0 40026 0 45967 0 554411 0 0 0 ADAM MEYER PROVOST & DEAN 363490 0 0 0 730 0 35615 0 44173 0 444008 0 0 0 JOSEPH W POLISI CHIEF CHINA OFFICER 352601 0 0 0 11112 0 35729 0 35905 0 435347 0 0 0 CHRISTIAN KECK CHIEF TECHNOLOGY OFFICER 314253 0 0 0 880 0 33054 0 53690 0 401877 0 0 0 ROSALIE P CONTRERAS VP PUBLIC AFFAIRS 321745 0 0 0 880 0 32996 0 45869 0 401490 0 0 0 DAVID LUDWIG DEAN & DIRECTOR, MUSIC DIVISION 303706 0 0 0 1037 0 29924 0 35692 0 370359 0 0 0 WESTON SPROTT DEAN & DIRECTOR, PREPARATORY DIVISIO 296602 0 0 0 492 0 27558 0 17221 0 341873 0 0 0 EVAN D YIONOULIS DEAN & DIRECTOR, DRAMA DIVISION 305052 0 0 0 1980 0 30439 0 2136 0 339607 0 0 0 BRIAN ZEGER ARTISTIC DIRECTOR,VOCAL ARTS 278395 0 0 0 3155 0 26181 0 21114 0 328845 0 0 0 ALICIA GRAF MACK DEAN & DIRECTOR, DANCE DIVISION 275123 0 0 0 495 0 28241 0 23495 0 327354 0 0 0 HUNG-KUAN CHEN PIANO FACULTY 265448 0 0 0 3685 0 25328 0 32482 0 326943 0 0 0 ROBERT MCDONALD COLLEGE STUDIO FACULTY 253695 0 0 0 26783 0 25289 0 19991 0 325758 0 0 0 JOAN WARREN VP FOR ENROLLMENT & STUDENT DEVELOP. 274875 0 0 0 5963 0 27581 0 15698 0 324117 0 0 0 STEVEN LAITZ CHAIR, MUSIC THEORY AND ANALYSIS 269629 0 0 0 5790 0 26972 0 17795 0 320186 0 0 0 STEPHANIE VULLO VP & GEN COUNSEL (THRU 9/24/2024) 272779 0 0 0 1320 0 27788 0 7047 0 308934 0 0 0 JANE GOTTLIEB VP LIBRARY AND INFORMATION RESOURCES 209803 0 0 0 2755 0 21710 0 33821 0 268089 0 0 0 PART I, LINE 1A ON OCCASION, THE SCHOOL PROVIDES NON-COACH (GENERALLY BUSINESS-CLASS, ALTHOUGH FIRST-CLASS MAY BE USED IF BUSINESS-CLASS IS UNAVAILABLE) TRAVEL FOR ITS OFFICERS FOR TRAVEL TO INTERNATIONAL DESTINATIONS, IN ACCORDANCE WITH THE SCHOOL'S POLICY. SUCH TRAVEL IS IN DIRECT SUPPORT OF THE SCHOOL'S EDUCATIONAL AND PERFORMANCE PROGRAMS (FOR EXAMPLE, AN INTERNATIONAL PERFORMANCE TOUR OF THE STUDENT ORCHESTRA). ALSO, ON OCCASION THE SCHOOL PROVIDES TRANSPORTATION FOR THE SPOUSE OF THE PRESIDENT TO ATTEND, ON BEHALF OF THE SCHOOL, FUNCTIONS OR OTHER EVENTS TOGETHER WITH THE PRESIDENT IN DIRECT SUPPORT AND FURTHERANCE OF THE SCHOOL'S MISSION. PART I, LINE 3 AN EMPLOYMENT CONTRACT IS EXECUTED BETWEEN THE SCHOOL AND ITS PRESIDENT, THE TERMS OF WHICH ARE SUBJECT TO REVIEW BY THE BOARD OF TRUSTEES. AT THE END OF THE CONTRACT'S TERM, WHEN DECIDING THE TERMS UNDER WHICH THE CONTRACT MAY BE RENEWED OR EXTENDED, THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, WITH THE ASSISTANCE OF AN OUTSIDE COMPENSATION EXPERT, CONDUCTS RESEARCH AMONG PEER INSTITUTIONS AND DOCUMENTS THE FINDINGS AND DECISIONS REACHED. THE COMPENSATION OF OFFICERS AND OTHER KEY EMPLOYEES IS REVIEWED ANNUALLY BY THE COMPENSATION COMMITTEE PRIOR TO THE START OF EACH FISCAL YEAR, AND QUESTIONS, OBJECTIONS, AND THE RESOLUTION OF EACH IS DOCUMENTED. PART I, LINE 4B THE PRESIDENT EARNED ACCRUED DEFERRED COMPENSATION OF $87,580 IN ACCORDANCE WITH HIS EMPLOYMENT AGREEMENT. THIS AMOUNT IS REPORTED ON SCHEDULE J, PART II, COLUMN C. PART I, LINE 7 DAMIAN WOETZEL, PRESIDENT, WAS PAID DEFERRED COMPENSATION FOR AMOUNTS EARNED FROM 2018-2023. THE AMOUNTS ARE REPORTED IN SCHEDULE J, PART II, COLUMN B(II). A TRUST FOR CULTURAL RESOURCES NYC SER 2015A&B 911882413 2015-06-25 70000000 REFUNDING REV. BONDS 0 0 0 B TRUST CULTURAL RESOURCES NYC SER 2017A&B 911882413 2017-07-26 77145000 REFUNDING REV. BONDS 0 0 0 C TRUST CULTURAL RESOURCES NYC SER 2018A 911882413 649717UK9 2018-11-15 48389236 REFUNDING REV. BONDS 0 0 0 A 70000000 70000000 2015 1 0 1 1 B 77145000 77145000 2018 1 0 1 1 C 48389236 528923 47860313 2018 1 0 1 1 A 0 0 1 1 0 0.00500 0.00700 0.01200 0 0 1 B 0 0 1 1 0 0.00500 0.00700 0.01200 0 0 1 C 0 0 1 1 0 0.00500 0.00700 0.01200 0 0 1 A 0 0 1 0 1 0 0 0 0 B 0 0 1 0 1 0 0 0 0 C 0 0 1 0 0 0 0 0 0 A 1 B 1 C 1 SCHEDULE K, PART IV, LINE 7 JUILLIARD HAS NOT ESTABLISHED FORMAL WRITTEN PROCEDURES TO MONITOR THE REQUIREMENTS OF SECTION 148, HOWEVER, THE ORGANIZATION DOES HAVE INFORMAL PROCEDURES IN PLACE TO MONITOR SECTION 148 ARBITRAGE REQUIREMENTS. X 4 6030 MEAN TRADING PRICE X MUSICAL INST. 14 545025 EXPERT OPINION 14 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS FOLLOWING COMPLETION OF A DRAFT FORM 990 BY MANAGEMENT AND REVIEW BY AN OUTSIDE ACCOUNTING FIRM, THE SCHOOL PROVIDES A DRAFT COPY OF ITS FORM 990 TO THE AUDIT COMMITTEE AND SUBSEQUENTLY TO THE BOARD OF TRUSTEES PRIOR TO FILING. IT SOLICITS QUESTIONS AND COMMENTS FROM THE GOVERNING BOARD, AND ANY MATTERS RAISED IN THIS REVIEW PROCESS ARE ADDRESSED PRIOR TO FILING THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY MONITORING & ENFORCEMENT EACH YEAR, ALL TRUSTEES, OFFICERS, AND MEMBERS OF SENIOR MANAGEMENT COMPLETE CONFLICT OF INTEREST DECLARATIONS. THE DECLARATIONS ARE SUBMITTED TO THE OFFICE OF THE CORPORATE SECRETARY WHO REVIEWS THE DECLARATIONS AND MAINTAINS THEM. ADDITIONALLY, IF TRUSTEES ARE ELECTED DURING THE YEAR, EACH COMPLETES A CONFLICT OF INTEREST DECLARATION UPON ELECTION. ANY CONFLICTS OR POTENTIAL CONFLICTS ARE REVIEWED BY THE AUDIT COMMITTEE, AND IF THE COMMITTEE DETERMINES THAT A POTENTIAL CONFLICT OF INTEREST EXISTS, THE MATTER IS REFERRED TO THE BOARD FOR RESOLUTION AS APPLICABLE BASED ON THE CIRCUMSTANCES OF THE MATTER AT HAND. THE TRUSTEE AFFECTED BY THE POTENTIAL CONFLICT MAY NOT BE PRESENT NOR PARTICIPATE IN THE DISCUSSION OF THE MATTER AND MAY NOT VOTE ON THE ISSUE. THE SCHOOL MAY ENTER INTO THE PROPOSED TRANSACTION OR RELATIONSHIP ONLY IF THE BOARD APPROVES IT IN ACCORDANCE WITH THE PROCEDURES DESCRIBED ABOVE. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR DETERMINING COMPENSATION AN EMPLOYMENT CONTRACT IS EXECUTED BETWEEN THE SCHOOL AND ITS PRESIDENT, THE TERMS OF WHICH ARE SUBJECT TO REVIEW BY THE BOARD OF TRUSTEES. AT THE END OF THE CONTRACT'S TERM, WHEN DECIDING THE TERMS UNDER WHICH THE CONTRACT MAY BE RENEWED OR EXTENDED, THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, WITH THE ASSISTANCE OF AN OUTSIDE COMPENSATION EXPERT, CONDUCTS RESEARCH AMONG PEER INSTITUTIONS AND DOCUMENTS THE FINDINGS AND DECISIONS REACHED. THE COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES IS REVIEWED ANNUALLY BY THE COMPENSATION COMMITTEE PRIOR TO THE START OF EACH FISCAL YEAR, AND QUESTIONS, OBJECTIONS, AND THE RESOLUTION OF EACH IS DOCUMENTED. COMPENSATION OF THE FOLLOWING OFFICERS AND KEY EMPLOYEES WAS REVIEWED FOR FISCAL YEAR 2023-2024: PRESIDENT, PROVOST/DEAN, VP FOR ADVANCEMENT, VP FOR PUBLIC AFFAIRS, VP/GENERAL COUNSEL, VP AND CFO, VP FOR ENROLLMENT MANAGEMENT/STUDENT DEVELOPMENT, CHIEF CHINA OFFICER AND CHIEF OPERATING OFFICER. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC DISCLOSURE OF DOCUMENTS ALL POLICIES OF THE SCHOOL APPLICABLE TO EMPLOYEES ARE DISCLOSED IN THE STAFF AND FACULTY HANDBOOKS AND ACCOMPANYING STATEMENTS, ALL OF WHICH ARE POSTED ON THE SCHOOL'S WEBSITE FOR STAFF AND FACULTY MEMBERS - AND ANYONE ELSE - TO REVIEW. THE SCHOOL MAKES ITS ANNUAL AUDITED FINANCIAL STATEMENTS AVAILABLE UPON REQUEST TO ANY INTERESTED PARTIES. THE CONFLICT OF INTEREST POLICY APPLICABLE TO TRUSTEES IS DISCUSSED IN PART VI, SECTION B, BUT IT IS NOT PUBLISHED ON THE WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 571,204. CHANGE IN FAIR VALUE OF DERIVATIVE INSTRUMENTS 5,215,523. LIABILITY ADJUSTMENT DUE TO UNREALIZED GAINS/LOSSES -2,178,146. SCHERZO LLC 60 LINCOLN CENTER PLAZA NEW YORK NY 10023 811344522 SUPPORT NY 0 0 JUILLIARD INSTITUTE OF MUSICAL ART 60 LINCOLN CENTER PLAZA NEW YORK NY 10023 136162648 SUPPORT NY 501(C)(3) 12A JUILLIARD 1 ALLERGO (TIANJIN) EDUCATION CONSULTING BAO YUAN BLDG 9TH FL SECTION C 8 TIANJIN FREE TRADE EX CH MGMT COMPANY CH SCHERZO LLC C 1.00000 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 1 INSTITUTE OF MUSICAL ART A 460567 FMV SCHEDULE R, PART V UNDER AN ARRANGEMENT BETWEEN THE TRUSTEES OF THE INSTITUTE OF MUSICAL ART OF THE CITY OF NEW YORK ("THE IMA") AND THE JUILLIARD SCHOOL ("THE SCHOOL"), THE INCOME FROM ALL INVESTMENTS OF THE IMA IS USED TO SUPPORT THE SCHOOL'S OPERATIONS. CERTAIN TRUSTEES AND EMPLOYEES OF THE SCHOOL SERVE AS TRUSTEES OF THE IMA, AND CERTAIN PAID EMPLOYEES OF THE SCHOOL PROVIDE ADMINISTRATIVE AND RECORDKEEPING SERVICES FOR THE IMA. THERE ARE NO REIMBURSEMENTS OR CASH TRANSFERS BETWEEN THE IMA AND THE SCHOOL FOR THESE SERVICES. IN 2002, THE TRUSTEES OF THE IMA DELEGATED INVESTMENT MANAGEMENT AUTHORITY OVER THE IMA'S ASSETS (AN INVESTMENT PORTFOLIO) TO THE SCHOOL, AND THE IMA TRANSFERRED ITS ASSETS (IN CASH) TO THE SCHOOL. THESE FUNDS WERE COMMINGLED WITH THE SCHOOL'S INVESTMENT PORTFOLIO, ALTHOUGH THE IMA REMAINS A SEPARATE LEGAL ENTITY AND SEPARATE FUND RECORDS ARE MAINTAINED TO RECORD IMA ACTIVITIES. THE MANAGEMENT OF THE IMA'S INVESTMENT PORTFOLIO AND THE METHOD USED TO DETERMINE INVESTMENT RETURNS AVAILABLE FOR SPENDING ARE IDENTICAL TO THOSE OF THE SCHOOL. THE VALUE OF THE IMA'S ASSETS AT JUNE 30, 2024 WERE $12,805,697 THE IMA'S NET INVESTMENT RETURN WAS $460,567 FOR THE YEAR ENDED JUNE 30, 2024.