2025-05-14T11:04:35-05:00 2024-06-30 910189318 MOSS ADAMS LLP 21700 OXNARD ST STE 300 WOODLAND HILLS CA 91367 990 2023-07-01 952501387 THE COLBURN SCHOOL COLB 2136212200 200 SOUTH GRAND AVENUE LOS ANGELES CA 90012 MAEESHA MERCHANT EVP/CFOO 2136212200 2025-05-15 1 1 LAUREN A HAVERLOCK P00545829 8185771900 2025-05-14 2023 2025-03-06 01:10:19Z SEL KARDAN 200 SOUTH GRAND AVENUE LOS ANGELES CA 90012 230237921 0 X WWW.COLBURNSCHOOL.EDU X 1951 CA A SCHOOL WITH ACCLAIMED FACULTY PROVIDING STUDENTS THE HIGHEST QUALITY PERFORMING ARTS EDUCATION. 32 32 465 87 667768 0 31891855 79720223 18406087 18494469 22588448 30521455 1312851 1955862 74199241 130692009 11504343 11613565 0 0 21971565 23430039 78000 181826 2860792 22043135 19556993 55597043 54782423 18602198 75909586 648075574 732847191 142349674 141569828 505725900 591277363 X THE COLBURN SCHOOL'S FOUNDING PRINCIPLE OF "ACCESS TO EXCELLENCE" PROVIDES A PERFORMANCE-CENTERED EDUCATION WITH UNPARALLELED FACULTY AND FACILITIES FOR ALL LEVELS OF DEVELOPMENT, INSTILLS THE JOY AND DISCIPLINE OF THE PERFORMING ARTS, (CONTINUED ON SCHEDULE O) 0 0 43795815 11613565 18494469 SEE SCHEDULE OTHE COLBURN SCHOOL (THE "SCHOOL") IS A CALIFORNIA NOT-FOR-PROFIT CORPORATION LOCATED IN THE HEART OF DOWNTOWN LOS ANGELES, CALIFORNIA. LED BY AN OUTSTANDING FACULTY, THE SCHOOL PROVIDES DEDICATED STUDENTS THE HIGHEST QUALITY PERFORMING ARTS EDUCATION WITH AN EMPHASIS ON PERFORMANCE.THE SCHOOL WAS FOUNDED IN 1950 AS A PREPARATORY PROGRAM FOR THE UNIVERSITY OF SOUTHERN CALIFORNIA AND FULFILLED THAT FUNCTION UNTIL 1980 WHEN IT BECAME AN INDEPENDENT COMMUNITY SCHOOL FOR THE PERFORMING ARTS AND WAS ACCREDITED AS A NON-DEGREE-GRANTING INSTITUTION BY THE NATIONAL ASSOCIATION OF SCHOOLS OF MUSIC (NASM). CURRENTLY, THIS PROGRAM IS KNOWN AS THE COLBURN SCHOOL OF PERFORMING ARTS (CSPA) AND OFFERS PROGRAMS IN MUSIC, DANCE, DRAMA, AND VOICE TO APPROXIMATELY 2,000 STUDENTS OF ALL AGES (TODDLER TO ADULT) AND ABILITIES (NOVICE THROUGH ADVANCED). THE SCHOOL ALSO OPERATES COMMUNITY OUTREACH PROGRAMS THAT BRING PERFORMING ARTS TO UNDER-SERVED CHILDREN IN INNER-CITY SCHOOLS.THE COLBURN CONSERVATORY OF MUSIC (CSCM), ESTABLISHED IN 2003, OFFERS UNDERGRADUATE AND GRADUATE DEGREE PROGRAMS SPECIALIZING IN CLASSICAL MUSIC PERFORMANCE. CSCM PROGRAMS RANGE FROM TWO TO FOUR YEARS OF STUDY AND RESULT IN ONE OF THE FOLLOWING: A BACHELOR OF MUSIC DEGREE, A PERFORMANCE DIPLOMA, A MASTER OF MUSIC DEGREE, AN ARTIST'S DIPLOMA, OR A PROFESSIONAL STUDIES CERTIFICATE. ADMISSION TO CSCM IS HIGHLY SELECTIVE, AND CSCM PROVIDES ALL STUDENTS WITH SCHOLARSHIPS THAT COVER FULL TUITION AND ROOM AND BOARD. CSCM ENROLLED 130 AND 133 STUDENTS DURING THE YEARS ENDED JUNE 30, 2024 AND 2023, RESPECTIVELY. CSCM IS ACCREDITED BY THE NASM AS A DEGREE-GRANTING SCHOOL.THE COLBURN MUSIC ACADEMY (CSMA), ESTABLISHED IN 2010, IS A NON-DEGREE PROGRAM DESIGNED TO PROVIDE A COMPREHENSIVE CURRICULUM OF CLASSES TO HIGHLY GIFTED PRE-COLLEGE STUDENTS FOCUSED ON CAREERS IN MUSIC. CSMA ENROLLED 51 AND 45 STUDENTS DURING THE YEARS ENDED JUNE 30, 2024 AND 2023, RESPECTIVELY. THE TRUDL ZIPPER DANCE INSTITUTE (TZDI) WAS CREATED IN 2008, CARVING OUT THE YOUTH AND ADULT DANCE CLASSES FROM CSPA. THE DANCE ACADEMY WAS CREATED IN 2014 UNDER TZDI AS A PRE-PROFESSIONAL TRAINING PROGRAM FOR A SELECT GROUP OF BALLET STUDENTS AGED 14-18. TZDI ENROLLED 250 AND 442 STUDENTS DURING THE YEARS ENDED JUNE 30, 2024 AND 2023, RESPECTIVELY, IN ITS BALLET, TAP, AND MODERN DANCE PROGRAMS. IN ADDITION, THE DANCE ACADEMY ENROLLED 18 AND 27 STUDENTS DURING THE YEARS ENDED JUNE 30, 2024 AND 2023, RESPECTIVELY.PERFORMING ARTS AND OTHER ACADEMIC PROGRAMS INCLUDES EXPENSES FOR THE PROVOST OFFICE, LIBRARY, AND THE PRODUCTION DEPARTMENT, WHICH PROVIDE ADDITIONAL SUPPORT TO THE VARIOUS PROGRAMS OF STUDY AND FURTHER OUR MISSION OF PERFORMING ARTS IN ADDITION TO EDUCATION. 43795815 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 0 1 1 0 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 171 0 1 465 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 32 32 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X BETHEL DATINGALING 2136211043 200 SOUTH GRAND AVENUE LOS ANGELES CA 90012 SELJUK KARDAN PRESIDENT & CEO 40.00 0.00 X 697138 0 126454 ROBERT LIPSETT PROFESSOR 40.00 0.00 X 471179 0 33180 FABIO BIDINI PROFESSOR 40.00 0.00 X 462733 0 30597 MAEESHA MERCHANT CFO/TREASURER/VP OF BUS. DEVELOP. 40.00 0.00 X 416912 0 31317 LINDA CORMIER VP HR/BOD SECRETARY 40.00 0.00 X 335460 0 23665 CLIVE GREENSMITH PROFESSOR 40.00 0.00 X 315970 0 42105 ANNE E WICKERT VP ADVANCEMENT 40.00 0.00 X 315885 0 22646 MARTIN BEAVER FACULTY 40.00 0.00 X 286637 0 40066 TATJANA MASURENKO FACULTY 40.00 0.00 X 280501 0 29003 NATHANIEL ZEISLER - DIR CICI (THRU 08/23)/PROVOST (AS OF 08/23) 40.00 0.00 X 242157 0 41775 ADRIAN DALY PROVOST (THRU 08/23) 40.00 0.00 X 215428 0 25633 MIRA WOLFF - VP HRGENERAL COUNSEL/BOD SECRETARY (AS OF 10/23) 40.00 0.00 X 43875 0 3795 ANDREW MILLSTEIN CHAIRMAN 1.00 0.00 X X 0 0 0 CAROL COLBURN GRIGOR LIFE CHAIRMAN EMERITUS 1.00 2.00 X X 0 0 0 DAVID D COLBURN VICE CHAIRMAN 1.00 0.00 X X 0 0 0 DIANE NAEGELE VICE CHAIRMAN 1.00 0.00 X X 0 0 0 DANIEL L AVCHEN DIRECTOR 1.00 0.00 X 0 0 0 ROBERT N BRAUN DIRECTOR 1.00 0.00 X 0 0 0 HENRY CHOI DIRECTOR 1.00 0.00 X 0 0 0 BETHANY COFFEE DIRECTOR (AS OF 12/23) 1.00 0.00 X 0 0 0 RICHARD W COLBURN DIRECTOR 1.00 2.00 X 0 0 0 ALICE COULOMBE DIRECTOR 1.00 0.00 X 0 0 0 LINDA CURTIS DIRECTOR (AS OF 12/23) 1.00 0.00 X 0 0 0 JENNIFER DIENER DIRECTOR 1.00 0.00 X 0 0 0 JERRY EBERHARDT DIRECTOR (AS OF 04/24) 1.00 0.00 X 0 0 0 DARREN EDWARDS DIRECTOR 1.00 0.00 X 0 0 0 JUAN CARLOS GONZALEZ DIRECTOR (AS OF 12/23) 1.00 0.00 X 0 0 0 GREG GUYETT DIRECTOR 1.00 0.00 X 0 0 0 CAROL F HENRY DIRECTOR 1.00 0.00 X 0 0 0 CATHERINE COLBURN HOGEL DIRECTOR 1.00 0.00 X 0 0 0 WILLIAM KENNEDY DIRECTOR 1.00 0.00 X 0 0 0 MOLLY KIRK DIRECTOR 1.00 0.00 X 0 0 0 ALIZA LESSER DIRECTOR 1.00 0.00 X 0 0 0 ROBERT LEWIS DIRECTOR 1.00 0.00 X 0 0 0 ALLAN MARKS DIRECTOR (AS OF 12/23) 1.00 0.00 X 0 0 0 BEVERLY C MARKSBURY DIRECTOR 1.00 0.00 X 0 0 0 WORTHY MCCARTNEY DIRECTOR 1.00 0.00 X 0 0 0 GREG MCWILLIAMS DIRECTOR 1.00 0.00 X 0 0 0 ANN MOORE DIRECTOR 1.00 0.00 X 0 0 0 MAHNAZ NEWMAN DIRECTOR 1.00 0.00 X 0 0 0 HEINRICH SCHELBERT DIRECTOR 1.00 0.00 X 0 0 0 HARRY B SUH DIRECTOR 1.00 0.00 X 0 0 0 KEITH TERASAKI DIRECTOR 1.00 0.00 X 0 0 0 DYLAN YOLLES DIRECTOR 1.00 0.00 X 0 0 0 4083875 0 450236 64 0 1 0 GEHRY PARTNERS LLP 12541 BEATRICE STREET LOS ANGELES CA 90066 ARCHITECT - BUILDING DESIGN 5438886 UNIVERSAL PROTECTION SERVICE LP EIGHT TOWER BRIDGE CONSHOHOCKEN PA 19428 SECURITY 1093746 MCCARTHY BUILDING COMPANIES 12851 MANCHESTER ROAD ST LOUIS MO 63131 CONSTRUCTION 750790 PEERLESS BUILDING MAINTENANCE CO 9510 TOPANGA CANYON BOULEVARD CHATSWORTH CA 91311 JANITORIAL 709395 ARTHUR J GALLAGHER & CO 7447 N FIGUEROA STREET LOS ANGELES CA 90041 CONSULTING-INSURANCES 615204 26 1646538 38437000 179514 39457171 3279528 79720223 TUITION INCOME 611600 18494469 18494469 18494469 13449923 19635 13430288 1214920 244846 970074 970074 970074 114486750 1460537 98830719 45036 15656031 1415501 17071532 17071532 120450 1646538 425311 -304861 -304861 CAFE REVENUE 722514 1029402 648133 381269 261247 261247 1290649 130692009 18494469 667768 31809549 11613565 11613565 2508617 412105 1724718 371794 16950980 14576570 1216412 1157998 794275 650383 74571 69321 1908017 1582197 200651 125169 1268150 1022042 146117 99991 95548 94388 894 266 20790 20300 400 90 156194 25099 130053 1042 181826 181826 2963307 2963307 3185149 2491908 303240 390001 203278 104651 73779 24848 785155 576048 124704 84403 544445 345460 90000 108985 2084406 2010283 54910 19213 340764 258418 27804 54542 29878 24015 5397 466 5057379 4992521 50491 14367 615045 3540 611505 FOOD SERVICE AND MEALS 2487234 2348987 62719 75528 RENTALS 269617 196839 13811 58967 EQUIP, FURN & INSTRUMEN 239891 223950 5984 9957 478913 222546 244349 12018 54782423 43795815 8125816 2860792 101012603 145699541 118133565 98162870 440988 461169 273037028 86607312 164868170 186429716 22144127 32863493 212236351 252690473 29239770 16539929 648075574 732847191 4963072 9757033 368015 758030 130841360 131054765 6177227 0 142349674 141569828 X 156437846 201157816 349288054 390119547 505725900 591277363 648075574 732847191 X 75909586 8419685 1222192 X 0 1 X 1 1 1 X SCHEDULE A, PART VI, EXPLANATION OF OTHER INCOME: OTHER INCOME DEPARTMENTAL INCOME RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 208922208 28998979 24406124 898329 7925272 253503710 191750977 5987496 19559993 663930 7712328 208922208 191516834 14854854 -4456756 705006 9458949 191750977 148042075 2208892 52386975 1534525 9586583 191516834 159548534 9249003 -3755462 1397601 15602399 148042075 0.57630 0.42370 0.00000 0 1 1 253427 34775755 35029182 144322617 69565230 74757387 274832 149293 125539 13011362 9541504 3469858 80399035 7351285 73047750 186429716 PRIVATE INVESTMENT FUNDS 231927280 F SHORT TERM INVESTMENTS 20688247 F OTHER INVESTMENT FUNDS 74946 F 252690473 X 115108263 8419685 10000 8429685 106678578 2963307 21050124 24013431 130692009 38949233 10000 10000 38939233 2963307 12879883 15843190 54782423 PART V, LINE 4: THE SCHOOL'S ENDOWMENT IS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING SCHOLARSHIP SUPPORT, DEPARTMENT CHAIR ENDOWMENTS, AND PROGRAMMATIC ENDEAVORS. PART X, LINE 2: THE SCHOOL IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC), THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE SCHOOL HAS ALSO BEEN RECOGNIZED BY THE CALIFORNIA FRANCHISE TAX BOARD AS EXEMPT FROM CALIFORNIA FRANCHISE AND INCOME TAXES UNDER SECTION 23701D OF THE CALIFORNIA REVENUE AND TAXATION CODE. THE SCHOOL HAS PROCESSES IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED INCOME; TO DETERMINE ITS FILINGS AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. THE SCHOOL FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THE POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE SCHOOL HAD DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID EXPENSE 11,613,565. PRIOR PERIOD PLEDGE WRITE OFFS 450. COLBURN MUSIC FUND DISTRIBUTION 8,100,000. UNRELATED BUSINESS INCOME/(LOSS) FOR TAX NOT FOR BOOK 19,635. PLEDGE PRESENT VALUE ADJUSTMENT 1,230,377. ALLOWANCE FOR UNCOLLECTIBLES 86,097. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID EXPENSE 11,613,565. BOND INTEREST RATE SWAP 1,266,318. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL ANNUALLY RUNS AN ADVERTISEMENT IN THE DAILY NEWS AND POSTS OUR NONDISCRIMINATORY POLICY ON OUR OWN WEBSITE AND IN OUR PROMOTIONAL MATERIALS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 38912502 NORTH AMERICA (CANADA AND MEXICO) 0 0 INVESTMENTS 2210516 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 INVESTMENTS 733345 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 PROGRAM SERVICES 24000 0 0 0 0 0 0 41880363 0 41880363 1 0 1 1 1 0 PART I, LINE 2: THE SCHOOL INVESTS DIRECTLY IN VARIOUS ALTERNATIVE INVESTMENTS THAT MAY BE ORGANIZED AS EITHER FOREIGN CORPORATIONS OR PARTNERSHIPS. IN ADDITION, THE SCHOOL INVESTS IN DOMESTIC LIMITED PARTNERSHIPS THAT MAY, IN TURN INVEST IN FOREIGN CORPORATIONS OR PARTNERSHIPS. NEVERTHELESS, THE INVESTMENT ACTIVITIES MAY NOT REACH THE THRESHOLDS REQUIRED FOR THE FILING OF FORMS 926, 5471, 8621, OR 8865. TO THE EXTENT THAT THE SCHOOL IS REQUIRED TO COMPLETE ONE (OR MORE) OF THESE FOREIGN FORMS, IT IS FILED WITH THE SCHOOL'S FORM 990-T. X X X X X X X 1 VECTIS DC LLC 2121 ROSECRANS AVE STE 2380 EL SEGUNDO CA 90245 IDENTIFY GOVERNMENT GRANTS 0 0 91450 -91450 KATHARINE DESHAW 531 NORTH ROSSMORE AVENUE LOS ANGELES CA 90004 DONOR IDENTIFICATION, CULTIVATION, SOLICITATION & STEWARDSHI 0 0 90376 -90376 181826 -181826 CA GALA 1727404 1621204 106200 76931 99193 196582 DANCE 15775 13475 2300 3177 9941 209 1 23809 11859 11950 610 13452 25216 1766988 1646538 120450 80718 122586 222007 425311 -304861 1 CONSERVATORY SCHOLARSHIP 130 10056970 CSPA & TZDI SCHOLARSHIP 667 1102344 ACADEMY SCHOLARSHIP 27 454251 PART I, LINE 2: FINANCIAL AID/GRANTS ARE AWARDED BASED ON TALENT, MERIT AND/OR NEED (AS EVIDENCED BY APPLICATION AND SUPPORTING DOCUMENTS), AND PROVIDED BASED ON SUPPORTED (RECEIPTS) EXPENSES FOR APPROVED TRAVEL, BOOKS AND HEALTH INSURANCE. STIPENDS FOR MEALS ARE SET BY ALLOWANCE. X X 1 1 X X X X X 0 1 0 0 0 0 0 1 0 SELJUK KARDAN PRESIDENT & CEO 537400 0 105000 0 54738 0 83649 0 42805 0 823592 0 0 0 ROBERT LIPSETT PROFESSOR 464562 0 0 0 6617 0 24449 0 8731 0 504359 0 0 0 FABIO BIDINI PROFESSOR 459511 0 0 0 3222 0 21432 0 9165 0 493330 0 0 0 MAEESHA MERCHANT CFO/TREASURER/VP OF BUS. DEVELOP. 394728 0 20000 0 2184 0 21350 0 9967 0 448229 0 0 0 LINDA CORMIER VP HR/BOD SECRETARY 317237 0 13792 0 4431 0 22279 0 1386 0 359125 0 0 0 CLIVE GREENSMITH PROFESSOR 313450 0 0 0 2520 0 22197 0 19908 0 358075 0 0 0 ANNE E WICKERT VP ADVANCEMENT 298795 0 16250 0 840 0 20937 0 1709 0 338531 0 0 0 MARTIN BEAVER FACULTY 284024 0 0 0 2613 0 20266 0 19800 0 326703 0 0 0 TATJANA MASURENKO FACULTY 277819 0 0 0 2682 0 19878 0 9125 0 309504 0 0 0 NATHANIEL ZEISLER - DIR CICI (THRU 08/23)/PROVOST (AS OF 08/23) 241456 0 0 0 701 0 17418 0 24357 0 283932 0 0 0 ADRIAN DALY PROVOST (THRU 08/23) 213680 0 0 0 1748 0 15081 0 10552 0 241061 0 0 0 PART I, LINE 1A THE ORGANIZATION PROVIDED THE PRESIDENT AND CEO A GROSS-UP PAYMENT FOR SOCIAL CLUB DUES, WHICH IS ALSO REPORTED IN OTHER REPORTABLE COMPENSATION IN SCHEDULE J, PART II, COLUMN B (III). THE SOCIAL CLUB DUES FOR THE COLBURN SCHOOL ARE RELATED TO THE CALIFORNIA CLUB. THIS LOCATION IS WHERE BOARD RETREATS AND DONOR MEETINGS ARE HELD THROUGHOUT THE YEAR. THESE DUES ARE ONLY PROVIDED TO THE PRESIDENT/CEO AND ARE REPORTED ON THE FORM W-2 AS TAXABLE COMPENSATION. PART I, LINE 4B THE PRESIDENT & CEO PARTICIPATES IN A SEC 457(F) RETIREMENT PLAN. THE SCHOOL HAS CONTRIBUTED $50,000 TO THE PLAN FOR THE YEAR ENDING 06/30/24. THIS IS A DEFERRED COMPENSATION PROGRAM AND WILL VEST IN 2026 IF THE TERMS OF THE CONTRACT ARE MET. PART I, LINE 7 MEMBERS OF THE LEADERSHIP TEAM ARE ELIGIBLE FOR A BONUS OPPORTUNITY, BUT ANY BONUS IS SUBJECT TO MANAGEMENT'S DISCRETION AND BASED ON PERFORMANCE. ANY OTHER BONUSES ARE BASED ON PERFORMANCE. A CIEDB SERIES 2022 630304653 13034AV64 2022-05-05 65535000 SEE PART VI 0 0 0 B CIEDB SERIES 2019 630304653 13034AD23 2019-11-01 66060000 SEE PART VI 0 0 0 A 68101378 171924 583422 51288916 16057117 0 0 0 1 B 66060000 66060000 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 1 1 1 0 0.01800 0.00000 0.01800 0 0 1 A 0 1 0 0 1 0 0 0 1 B 0 0 1 0 1 0 0 0 1 A 1 B 1 COLUMN A, PART I(F): THE BONDS WERE ISSUED TO PROVIDE FUNDS TO FINANCE THE CONSTRUCTION OF NEW EDUCATIONAL AND PERFORMING ARTS FACILITIES IN LOS ANGELES, CALIFORNIA. COLUMN A: PART II, LINE 3: THE TOTAL PROCEEDS SHOWN IN PART II, LINE 3 DIFFERS FROM THE ISSUE PRICE SHOWN IN PART I, (E) DUE TO INTEREST EARNINGS ON INVESTED PROCEEDS. COLUMN A, PART III, LINE 7: AS PROVIDED IN TREASURY REGULATION SECTION 1.141-4(C)(2)(I)(B), THE AMOUNT OF PRIVATE PAYMENTS TAKEN INTO ACCOUNT UNDER THE PRIVATE SECURITY OR PAYMENT TEST MAY NOT EXCEED THE AMOUNT OF PRIVATE BUSINESS USE AND/OR UNRELATED TRADE OR BUSINESS USE. ACCORDINGLY, THE AMOUNT OF PRIVATE PAYMENTS FOR THE REPORTING PERIOD DOES NOT EXCEED THE AMOUNT STATED IN PART III, LINE 6. THE ORGANIZATION HAS NOT UNDERTAKEN AN ANALYSIS OF THE PRIVATE SECURITY OR PAYMENT TEST WITH RESPECT TO THE BONDS, AS THE LEVEL OF PRIVATE BUSINESS USE AND/OR UNRELATED TRADE OR BUSINESS REPORTED IN PART III, LINE 6, IS NOT IN EXCESS OF AMOUNTS PERMITTED UNDER SECTION 145 OF THE CODE. COLUMN A, PART IV, LINE 4: THE BORROWER HAS A SWAP WITH BANK OF AMERICA DATED MARCH 31, 2005 AND MATURING ON AUGUST 1, 2037. CARRIED OVER FROM 2005 BONDS. COLUMN B, PART I(F): THE SERIES 2015A BONDS WERE ISSUED ON MAY 27, 2015. COLUMN B, PART II, LINE 13: SINCE PROCEEDS OF THE BONDS WERE USED FOR CURRENT REFUNDING PURPOSES, THE YEAR OF SUBSTANTIAL COMPLETION IS NOT APPLICABLE. COLUMN B, PART III, LINE 7: AS PROVIDED IN TREASURY REGULATION SECTION 1.141-4(C)(2)(I)(B), THE AMOUNT OF PRIVATE PAYMENTS TAKEN INTO ACCOUNT UNDER THE PRIVATE SECURITY OR PAYMENT TEST MAY NOT EXCEED THE AMOUNT OF PRIVATE BUSINESS USE AND/OR UNRELATED TRADE OR BUSINESS USE. ACCORDINGLY, THE AMOUNT OF PRIVATE PAYMENTS FOR THE REPORTING PERIOD DOES NOT EXCEED THE AMOUNT STATED IN PART III, LINE 6. THE ORGANIZATION HAS NOT UNDERTAKEN AN ANALYSIS OF THE PRIVATE SECURITY OR PAYMENT TEST WITH RESPECT TO THE BONDS, AS THE LEVEL OF PRIVATE BUSINESS USE AND/OR UNRELATED TRADE OR BUSINESS USE REPORTED IN PART III, LINE 6, IS NOT IN EXCESS OF AMOUNTS PERMITTED UNDER SECTION 145 OF THE CODE. COLUMN B, PART IV, LINE 2(B): THE BONDS CONSIST OF A CURRENT REFUNDING, WHICH HAS MET THE 6-MONTH EXCEPTION TO THE REBATE REQUIREMENT AND, THEREFORE, NO PAYMENT WILL EVER BE DUE ON THE BONDS. X 12 3118677 FMV X INSTRUMENTS 5 134500 APPRAISAL X WINE 144 18046 FMV X CATERED FOOD 1 8305 FMV 3 0 1 0 PART I, COLUMN (B): THE NUMBER LISTED IN COLUMN (B) RESPRESENTS THE NUMBER OF CONTRIBUTIONS. FORM 990 PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION CONTINUED: AND INSPIRES STUDENTS TO ACHIEVE THEIR FULL POTENTIAL THROUGH THE PURSUIT OF EXCELLENCE IN ALL THAT THEY DO. THE COLBURN SCHOOL LEVELS THE PLAYING FIELD FOR MUSIC AND DANCE EDUCATION BY OFFERING ROBUST SCHOLARSHIP SUPPORT TO STUDENTS AT ALL LEVELS WHO DEMONSTRATE COMMITMENT AND GO BEYOND THE CAMPUS TO BRING THE PERFORMING ARTS TO NEW COMMUNITIES THROUGH COMMUNITY ENGAGEMENT PROGRAMS. POSITIONED AT THE INTERSECTION OF EDUCATION AND THE PERFORMING ARTS, THE COLBURN SCHOOL PROVIDES WORLD-CLASS PERFORMING ARTS EDUCATION AT ALL LEVELS OF DEVELOPMENT, FROM EARLY CHILDHOOD TO THOSE PURSUING MUSIC DEGREES AND PROFESSIONAL CAREERS. EACH YEAR, MORE THAN 2,000 STUDENTS FROM AROUND THE WORLD COME TO COLBURN'S STATE-OF-THE-ART CAMPUS IN LOS ANGELES TO BENEFIT FROM THE RENOWNED FACULTY, UNPARALLELED FACILITIES, AND FOCUS ON EXCELLENCE THAT UNITES THE COMMUNITY. MORE THAN 350 PUBLIC MUSIC AND DANCE PERFORMANCES TAKE PLACE ON CAMPUS EACH YEAR. WITH SUPERB VENUES, LOW TICKET PRICES, AND WORLD-RENOWNED GUEST ARTISTS PERFORMING ALONGSIDE STUDENTS, THESE PERFORMANCES NOT ONLY PROVIDE VALUABLE EDUCATIONAL EXPERIENCES BUT DEVELOP THE NEXT GENERATION OF AUDIENCES. FORM 990, PART VI, SECTION A, LINE 2 THE FOLLOWING BOARD MEMBERS SHARE A FAMILY RELATIONSHIP: CATHERINE COLBURN HOGEL CAROL COLBURN GRIGOR RICHARD W. COLBURN DAVID D. COLBURN FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS COMPLETED ANNUALLY BY THE ACCOUNTING DEPARTMENT WITH A PAID PREPARER AND REVIEWED BY THE CFO. THE 990 IS PRESENTED TO THE PRESIDENT & CEO AND THE AUDIT COMMITTEE. ONCE THE CFO, PRESIDENT & CEO, AND AUDIT COMMITTEE ARE IN AGREEMENT ON THE FINAL 990, COPIES ARE PROVIDED TO THE ENTIRE GOVERNING BOARD PRIOR TO IT BEING FILED. THE AUDIT COMMITTEE REVIEWS THE 990 WITH THE GOVERNING BOARD. ONCE THE 990 IS CONSIDERED FINAL, THE CFO WILL SIGN THE RETURN, OR THE AUTHORIZATION FORM FOR ELECTRONIC FILING, AND SUBMIT BY THE FILING DEADLINE. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED ANNUALLY TO DISCLOSE CONFLICTS ON THE CONFLICTS OF INTEREST QUESTIONNAIRE. IF CONFLICTS ARE DISCLOSED OR OTHERWISE BROUGHT TO THEIR ATTENTION, THE BOARD WILL REVIEW THE POTENTIAL CONFLICT. IT MAY DETERMINE THAT A CONFLICT EXISTS, BUT POSES NO RISK OF HARM TO THE SCHOOL OR THAT SOME REMEDIAL ACTION OR INTERVENTION IS NECESSARY. THE BOARD DOCUMENTS DISCUSSION OF THE POTENTIAL CONFLICT AND ITS RESOLUTION. THE SCHOOL ALSO REQUIRES PERIODIC REVIEW OF TRANSACTIONS AND RELATIONSHIPS TO ENSURE THAT THERE ARE NO CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR REVIEWING AND APPROVING COMPENSATION INCLUDES REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS AND/OR COMPENSATION COMMITTEE OF THE BOARD, PROVIDED THAT PERSONS WITH CONFLICTS OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT AT ISSUE ARE NOT INVOLVED IN THE REVIEW AND APPROVAL. COMPARABLE COMPENSATION DATA (INCLUDING FORM 990'S OF OTHER ORGANIZATIONS AND COMPENSATION SURVEYS) FOR SIMILARLY QUALIFIED INDIVIDUALS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS IS USED; INDEPENDENT COMPENSATION CONSULTANTS ARE USED; AND CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING WITH RESPECT TO THE DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENT IS MAINTAINED. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, SUBJECT TO THE FEDERAL OR CALIFORNIA STATE PUBLIC DISCLOSURE RULES, ARE MADE PUBLICLY AVAILABLE AS THE APPLICABLE LAW REQUIRE. OTHERWISE, GOVERNING DOCUMENTS ARE PROVIDED TO THE PUBLIC AT THE DISCRETION OF MANAGEMENT. THE CONFLICT OF INTEREST POLICY IS PROVIDED TO THE PUBLIC AT THE DISCRETION OF MANAGEMENT. THE AUDITED CONSOLIDATED FINANCIAL STATEMENTS OF THE COLBURN SCHOOL AND SUBSIDIARIES ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: PRIOR PERIOD PLEDGE WRITE OFFS -450. UNRELATED BUSINESS INCOME/(LOSS) FOR TAX NOT FOR BOOK -19,635. PLEDGE PRESENT VALUE ADJUSTMENT -1,230,377. BOND INTEREST RATE SWAP 1,266,318. UNREALIZED LOSS ON INTEREST RATE SWAP 1,292,433. ALLOWANCE FOR UNCOLLECTIBLES -86,097. WFBI LLC 200 S GRAND AVENUE LOS ANGELES CA 90012 812750603 REAL PROPERTY DE 589002 7906571 COLBURN SCHOOL WFGTI LLC 200 S GRAND AVENUE LOS ANGELES CA 90012 842857057 REAL PROPERTY DE 0 0 COLBURN SCHOOL COLBURN MUSIC FUND 6311 ROMAINE ST SUITE 7138 LOS ANGELES CA 90038 954804766 PF CA 501(C)(3) PF COLBURN SCHOOL 1 COLBURN FOUNDATION 6311 ROMAINE ST SUITE 7138 LOS ANGELES CA 90038 954693145 PF CA 501(C)(3) PF COLBURN SCHOOL 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 COLBURN MUSIC FUND C 8100000 COST COLBURN FOUNDATION C 30337000 COST