2021-04-15T13:08:10-05:00 2020-05-31 KPMG LLP 60 South Street Boston MA 02111 990 2019-06-01 042300472 BERKLEE COLLEGE OF MUSIC INC % TAYLA BURKE BERK 6177472287 1140 BOYLSTON STREET BOSTON MA 022153693 RICHARD HISEY CFO 6177478089 2021-04-13 true STEPHANIE LONCZAK P01880207 6179881000 2021-04-08 2019 2022-09-23 18:48:47Z ROGER H BROWN 1140 BOYLSTON STREET BOSTON MA 022153693 428830960 false X WWW.BERKLEE.EDU X 1945 MA THE MISSION OF BERKLEE COLLEGE OF MUSIC IS TO EDUCATE AND TRAIN STUDENTS TO EXCEL IN A CAREER OF MUSIC, DANCE AND/OR THEATRE. 40 38 4780 100 111201 35271 26539077 26109290 306711137 318676857 13211806 18124787 4709548 5667180 351171568 368578114 69240678 76949275 0 0 161667295 173287903 0 0 6872032 96903999 91260469 327811972 341497647 23359596 27080467 779515214 757790141 377250977 409615815 402264237 348174326 X THE MISSION OF BERKLEE COLLEGE OF MUSIC IS TO FOSTER, ENCOURAGE AND PROMOTE THE CULTURE, STUDY, PRACTICE AND TEACHING OF VARIOUS BRANCHES OF MUSIC, THEATER, DANCING AND KINDRED ARTS AND TO CONDUCT A CONSERVATORY FOR INSTRUCTION IN THE VARIOUS BRANCHES OF MUSIC, THEATER, DANCING AND KINDRED ARTS. false false 251911488 74136264 261667059 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 9,200 STUDENTS FROM THE US AND 100 FOREIGN COUNTRIES. THE COLLEGE ALSO OFFERS A NEW WAY FOR MUSICIANS AROUND THE WORLD TO JOIN THE GLOBAL MUSIC COMMUNITY-AS PERFORMERS, AS PRACTITIONERS, AND AS LEADERS WITH THE COLLEGE'S FIRST INTERNATIONAL CAMPUS IN VALENCIA. 21913769 2047883 33603943 BERKLEE ONLINE: BERKLEE COLLEGE OF MUSIC OFFERS DEGREES AND ACCREDITED PROGRAMS IN THE AREAS OF PRODUCTION, GUITAR, SONG WRITING, THEORY, HARMONY AND EAR TRAINING, AND THE MUSIC BUSINESS. CURRENTLY MORE THAN 4,000 STUDENTS PARTICIPATE IN ONLINE LEARNING. 11281755 765128 24719951 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. 285107012 true true false false false false false false true true true false false false true true false true true true true false false false true false false false true true true false false false false false false false false true true true false false false false true true true false false true 1859 0 true 4780 true true true true SP false false false true true false false false false false false X 40 38 true false false false false false false true true false false true true true true true true true true true false CA MA NY X X TAYLA BURKE 6177476762 1140 BOYLSTON STREET BOSTON MA 022153693 ROGER H BROWN PRESIDENT 35.0 0.0 X X 598197 0 68280 LAWRENCE J SIMPSON SENIOR VICE PRESIDENT 35.0 0.0 X 357318 0 55620 RICHARD HISEY SR VICE PRESIDENT/TREASURER 35.0 0.0 X 361677 0 48967 DAVID GREGORY VICE PRESIDENT 35.0 0.0 X 348355 0 47537 ELIZABETH NEWMAN SENIOR VICE PRESIDENT 35.0 0.0 X 342639 0 52235 DEBORAH CAVALIER SENIOR VICE PRESIDENT 35.0 0.0 X 344044 0 40474 CYNTHIA LINK SENIOR VICE PRESIDENT 35.0 0.0 X 338099 0 33475 THOMAS RILEY VICE PRESIDENT 35.0 0.0 X 297462 0 57817 MICHAEL KING VICE PRESIDENT 35.0 0.0 X 286125 0 47912 CATHLEEN YOUNG EXECUTIVE DIRECTOR 35.0 0.0 X 265425 0 42161 PANOS PANAY SVP FOR GLOBAL STRATEGY 35.0 0.0 X 213999 0 40090 MELISSA HOWE SECRETARY 35.0 0.0 X 189004 0 20512 DAVID ABRAMS TRUSTEE - END 03/20 2.0 0.0 X 0 0 0 LEN BAKER TRUSTEE 2.0 0.0 X 0 0 0 MICHAEL A BROWN TRUSTEE 2.0 0.0 X 0 0 0 DAVID CLEM TRUSTEE 2.0 0.0 X 0 0 0 JOHN CONNAUGHTON TRUSTEE 2.0 0.0 X 0 0 0 CYNTHIA CURME TRUSTEE 2.0 0.0 X 0 0 0 MICHAEL R EISENSON VICE CO-CHAIR 2.0 0.0 X 0 0 0 EMILIO ESTEFAN TRUSTEE 2.0 0.0 X 0 0 0 GLORIA ESTEFAN TRUSTEE 2.0 0.0 X 0 0 0 FRANCESCA FREDERICK TRUSTEE 2.0 0.0 X 0 0 0 DAVID GROSS-LOH TRUSTEE 2.0 0.0 X 0 0 0 JOSH GRUSS TRUSTEE 2.0 0.0 X 0 0 0 THOMAS HAGERTY TRUSTEE 2.0 0.0 X 0 0 0 CHARLES HIRSCHHORN TRUSTEE 2.0 0.0 X 0 0 0 STEVEN HOLTZMAN TRUSTEE 2.0 0.0 X 0 0 0 BILL KAISER TRUSTEE 2.0 0.0 X 0 0 0 JOEL KATZ TRUSTEE - END 03/20 2.0 0.0 X 0 0 0 BJ KRINTZMAN TRUSTEE 2.0 0.0 X 0 0 0 SARA LAWRENCE-LIGHTFOOT TRUSTEE 2.0 0.0 X 0 0 0 MIE KYUNG LEE TRUSTEE 2.0 0.0 X 0 0 0 MARTIN MANNION VICE CO-CHAIR 2.0 0.0 X 0 0 0 DEMOND MARTIN TRUSTEE 2.0 0.0 X 0 0 0 CARLA MARTINEZ TRUSTEE 2.0 0.0 X 0 0 0 MARC MAYER TRUSTEE - END 03/20 2.0 0.0 X 0 0 0 HASSELL MCCLELLAN TRUSTEE 2.0 0.0 X 0 0 0 JANE MENDILLO TRUSTEE 2.0 0.0 X 0 0 0 FREDERICK T MILLER TRUSTEE 2.0 0.0 X 0 0 0 PETER MULLER TRUSTEE 2.0 0.0 X 0 0 0 ROBERT MURLEY TRUSTEE 2.0 0.0 X 0 0 0 ANTHONY PANGARO TRUSTEE 2.0 0.0 X 0 0 0 SNOW QIN TRUSTEE 2.0 0.0 X 0 0 0 ALEX RIGOPULOS TRUSTEE 2.0 0.0 X 0 0 0 STEVE RUCHEFSKY TRUSTEE 2.0 0.0 X 0 0 0 JEFF SHAMES TRUSTEE 2.0 0.0 X 0 0 0 DAVID SCOTT SLOAN TRUSTEE 2.0 0.0 X 0 0 0 DARIUS SIDEBOTHAM TRUSTEE 2.0 0.0 X 0 0 0 SUSAN SOLOMONT TRUSTEE 2.0 0.0 X 0 0 0 ELIZABETH CARRILLO THOMAS TRUSTEE 2.0 0.0 X 0 0 0 TARIK WARD TRUSTEE 2.0 0.0 X 0 0 0 SUSAN WHITEHEAD CHAIR OF THE BOARD 2.0 0.0 X 0 0 0 MARY ZACHARIS TRUSTEE 2.0 0.0 X 0 0 0 BARRY ZUBROW TRUSTEE 2.0 0.0 X 0 0 0 3942344 0 555080 335 false true false YORKE CONSTRUCTION CORP 140 WEST 31ST STREET NEW YORK NY 10001 CONSTRUCTION 6449324 GOOGLE INC PO BOX 39000 SAN FRANCISCO CA 941390001 MARKETING 4447337 ARAMARK SERVICES INC 27310 NETWORK PLACE CHICAGO IL 606731273 FOOD SERVICES 3826519 COLUMBIA CONSTRUCTION COMPANY 100 RIVER PARK DRIVE NORTH READING MA 01864 CONSTRUCTION 3559782 ACME BUILDING SERVICES 599 NORTH AVENUE SUITE 6 WAKEFIELD MA 01880 CUSTODIAL SERVICES 2330806 105 1986234 6213383 17909673 232811 26109290 TUITION & FEES 611710 289622768 289622768 ROOM & BOARD 721310 24719951 24719951 GLOBAL INITIATIVES 611710 1798992 1798992 BERKLEE ONLINE 611710 598179 598179 PERFORMANCE CENTER 611710 624180 624180 1312787 1312787 318676857 2015925 146349 1869576 0 0 1952467 2694850 -742383 0 -742383 -35148 -707235 71358075 55249213 16108862 16108862 16108862 185749 1986234 739462 -553713 -553713 0 0 0 2883417 1569321 1314096 1314096 GAIN ON EXTINGUISHMENT OF DEBT 900099 2467593 2467593 PREMIUM AMORTIZATION 900099 1505651 1505651 GAIN ON SALE OF TAX CREDITS 900099 854751 854751 821185 821185 5649180 368578114 319990953 111201 22366670 0 76949275 76949275 0 0 1328654 296943 635167 396544 125425 125425 139711014 108574219 27070797 4065998 4298938 13040 4273908 11990 18387350 26401042 -8962340 948648 9436522 7345027 1818149 273346 2800809 1104657 1482014 214138 3491957 124857 3367100 446245 446245 0 0 197369 197369 6623027 5073179 1545587 4261 5904368 5019791 876780 7797 6054545 4804625 1159443 90477 7163445 1052137 6105376 5932 1933452 1931104 2348 12870426 12433294 437132 2258803 2242920 15850 33 0 1524219 564518 839090 120611 10835522 8806122 1810760 218640 0 15337829 12472506 2556624 308699 460265 460265 COST OF MEALS 5619607 5618214 608 785 EVENT EXPENSE 1766997 1389458 301684 75855 EQUIPMENT REPAIR 1255022 1213964 41058 INCOME TAX EXPENSE 190000 190000 4526562 1360695 3037589 128278 341497647 285107012 49518603 6872032 0 0 111417739 117410553 10551692 9241996 438363 811549 0 0 0 0 2019289 1531109 0 0 0 0 480689137 192149532 284357774 288539605 356061885 327571106 0 0 0 0 0 0 14668472 12684223 779515214 757790141 73149723 123301332 0 0 32546929 26095400 268016377 256593919 0 0 0 0 0 0 0 0 3537948 3625164 377250977 409615815 X 293930148 235103936 108334089 113070390 402264237 348174326 779515214 757790141 X 27080467 -33472074 -47698304 X false true X true true true X 13969969 18623012 21649617 26539077 26109290 106890965 0 0 13969969 18623012 21649617 26539077 26109290 106890965 4305439 102585526 1608600 2077982 2735526 4204963 3822043 14449114 513539 373079 1223207 0 0 2109825 1178023 2868869 2051431 2042612 8718346 16859281 140309185 1449307256 0.73114 0.76300 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false X 356061885 5124631 -17363212 2534515 13717683 327571106 365075720 4802197 1008984 1899726 12925290 356061885 358716518 4786360 17585791 3165149 12847800 365075720 316410569 21034097 37221874 2078168 13871854 358716518 327745268 6167204 -3245483 6015674 8240746 316410569 0.78790 0.18660 0.02550 false false 0 52661439 52661439 0 184791896 46694372 138097524 0 165032919 99132069 65900850 0 63105967 46323091 16782876 0 15096916 0 15096916 288539605 0 REFUNDABLE ADVANCES - U.S. GOV 3625164 3625164 X 304986285 -33472074 -35179239 -68651313 373637598 -5059484 -5059484 368578114 355477139 13979492 13979492 341497647 341497647 ESCROW AND CUSTODIAL ARRANGEMENTS PART IV BERKLEE COLLEGE OF MUSIC IS 100% OWNER OF BERKLEE VALENCIA AND 50% OWNER OF AMP UP NYC LLC. THE COLLEGE MAINTAINS THE BOOKS AND RECORDS FOR THE RELATED ENTITIES. AMP UP NYC LLC WAS DISSOLVED ON NOVEMBER 26, 2019. ENDOWMENT FUNDS PART V, LINE 4 ENDOWMENT ASSETS ARE INTENDED TO PROVIDE INCOME FOR CURRENT OPERATIONS AND 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 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. ACCORDINGLY, IT IS GENERALLY NOT SUBJECT TO INCOME TAXES EXCEPT TO THE EXTENT IT HAS TAXABLE INCOME FROM ACTIVITIES THAT ARE NOT RELATED TO ITS EXEMPT PURPOSE. THE COLLEGE HAS GENERATED UNRELATED BUSINESS INCOME FOR THE YEAR ENDED MAY 31, 2020 BUT IT IS NOT SIGNIFICANT TO THE CONSOLIDATED FINANCIAL STATEMENTS. THE COLLEGE BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. OTHER REVENUE INCLUDED IN FINANCIAL STATEMENTS NOT ON RETURN PART XI, LINE 2D BERKLEE VALENCIA REVENUE 14,927,985 PENSION OBLIGATION CHANGES OTHER THAN NET PERIODIC COSTS -47,698,304 HEERF/CARES -1,698,920 LOSS ON TERM. CONTRACT -710,000 TOTAL -35,179,239 REVENUE INCLUDED ON RETURN BUT NOT IN FINANCIAL STATEMENTS PART XI, LINE 4B RECLASS OF FUNDRAISING EXPENSE (739,462) RECLASS OF RENTAL EXPENSE (2,694,850) BERKLEE LAPTOP PROGRAM COSTS OF GOODS SOLD (1,569,322) GILBERT GRANT (55,850) TOTAL (5,059,484) OTHER EXPENSES INCLUDED IN FINANCIAL STATEMENTS BUT NOT ON RETURN PART XII, LINE 2D BERKLEE VALENCIA EXPENSES 11,328,929 BERKLEE LAPTOP PROGRAM COST OF GOODS SOLD 1,569,321 RECLASS OF RENTAL EXPENSE 2,694,850 RECLASS OF FUNDRAISING EXPENSE 739,462 GILBERT GRANT 55,850 RECLASS OF HEERF/CARES ACT -1,698,920 RECLASS OF LOSS ON TERMINATED CONTRACT -710,000 TOTAL 13,979,492 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, ALL EMPLOYMENT ADVERTISEMENTS, AS WELL AS ON THE COLLEGE'S WEBSITE WWW.BERKLEE.EDU. 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 Program Services VALENCIA CAMPUS 0 Europe (Including Iceland and Greenland) Program Services STUDY ABROAD 49447 Central America and the Caribbean Investments 92185841 South Asia Program Services STUDY ABROAD 442347 North America Program Services STUDY ABROAD 19991 East Asia and the Pacific Program Services EDUCATION 687447 Middle East and North Africa 1 2 Program Services EDUCATION 1242197 Central America and the Caribbean Program Services BERKLEE ONLINE 0 Europe (Including Iceland and Greenland) Program Services BERKLEE ONLINE 0 Middle East and North Africa Program Services BERKLEE ONLINE 0 North America Program Services BERKLEE ONLINE 0 Russia and the Newly Independent States Program Services BERKLEE ONLINE 0 South America Program Services BERKLEE ONLINE 0 South Asia Program Services BERKLEE ONLINE 0 Sub-Saharan Africa Program Services BERKLEE ONLINE 0 2 2 2 2 94627270 94627270 true false true true true true PART I, LINE 3 THE ACTIVITY CONDUCTED IN SPAIN IS MANAGEMENT AND PROGRAM SERVICES, INCLUDING GRADUATE PROGRAMS, AND STUDY ABROAD FOR THE COLLEGE'S FIRST INTERNATIONAL CAMPUS. THE VALENCIA CAMPUS HAS 125 EMPLOYEES. GALA - BCM 1725615 1544666 180949 255000 240802 77895 SOIREE - BCB 311618 311618 75772 1 134750 129950 4800 52603 37390 2171983 1986234 185749 307603 240802 191057 739462 -553713 SCHEDULE G, PART II, COLUMN (B) THE SOIREE - BCB EVENT IS REPORTED ON SCHEDULE G, PART II AS EXPENSES AND CONTRIBUTIONS WERE INCURRED RELATED TO THIS EVENT. HOWEVER, THE EVENT ULTIMATELY DID NOT TAKE PLACE DUE TO THE COVID-19 PANDEMIC. true INTERNAL SCHOLARSHIPS 3570 68900472 FMV N/A EXTERNAL SCHOLARSHIPS 545 4925469 FMV N/A COLLEGE WORK STUDY 341 671690 FMV N/A MASSACHUSETTS STATE SCHOLARSHIPS 24 55850 FMV N/A SEOG FINANCIAL AID AWARDS 409 696874 FMV N/A HIGHER EDUCATION EMERGENCY RELIEF FUNDING 2427 1698920 FMV N/A 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 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. HIGHER EDUCATION EMERGENCY RELIEF FUNDING (HEERF) PART III, LINE 6 IN FISCAL YEAR 2020 THE COLLEGE WAS AWARDED $1,786,574 FROM THE HIGHER EDUCATION EMERGENCY RELIEF FUND (HEERF). THE FUNDS WERE USED FOR EMERGENCY FINANCIAL AID GRANTS TO STUDENTS UNDER THE 18004(A)(1) CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACTS (CARES ACT). THE COLLEGE DISBURSED $1,698,920 OF THE TOTAL RECEIVED TO THE STUDENTS TO ASSIST THE STUDENTS IN THEIR TRANSITION TO REMOTE LEARNING WITH THE REMAINING $87,654 TO BE UTILIZED IN FISCAL YEAR 2021 FOR APPEALS AND LATE FILERS. X X true true X X X X X X false false false true false false false true false ROGER H BROWN PRESIDENT 472403 0 100062 0 25732 0 25200 0 43080 0 666477 0 0 0 RICHARD HISEY SR VICE PRESIDENT/TREASURER 296460 0 38485 0 26732 0 25200 0 23767 0 410644 0 0 0 MELISSA HOWE SECRETARY 161903 0 6563 0 20538 0 15575 0 4937 0 209516 0 0 0 CATHLEEN YOUNG EXECUTIVE DIRECTOR 236321 0 24000 0 5104 0 24036 0 18125 0 307586 0 0 0 LAWRENCE J SIMPSON SENIOR VICE PRESIDENT 293214 0 31879 0 32225 0 25200 0 30420 0 412938 0 0 0 DEBORAH CAVALIER SENIOR VICE PRESIDENT 247966 0 72692 0 23386 0 24694 0 15780 0 384518 0 0 0 ELIZABETH NEWMAN SENIOR VICE PRESIDENT 309100 0 31519 0 2020 0 24036 0 28199 0 394874 0 0 0 CYNTHIA LINK SENIOR VICE PRESIDENT 276206 0 29939 0 31954 0 25200 0 8275 0 371574 0 0 0 DAVID GREGORY VICE PRESIDENT 293477 0 18092 0 36786 0 25200 0 22337 0 395892 0 0 0 THOMAS RILEY VICE PRESIDENT 260176 0 11554 0 25732 0 25200 0 32617 0 355279 0 0 0 MICHAEL KING VICE PRESIDENT 220251 0 60096 0 5778 0 22388 0 25524 0 334037 0 0 0 PANOS PANAY SVP FOR GLOBAL STRATEGY 197150 0 15580 0 1269 0 13815 0 26275 0 254089 0 0 0 BENEFITS PART I, LINE 1A TRAVEL FOR COMPANIONS IS PROVIDED ONLY TO THE PRESIDENT, WHO REIMBURSES THE COLLEGE FOR THE FULL EXPENSE. HEALTH CLUB DUES ARE REIMBURSED TO MEMBERS OF THE PRESIDENT'S COUNCIL UNDER AN EXECUTIVE WELLNESS REIMBURSEMENT PROGRAM. THIS INCLUDES THE SENIOR VICE PRESIDENTS AND VICE PRESIDENTS REPORTED IN FORM 990 PART VII. THE AMOUNTS ARE INCLUDED AS TAXABLE COMPENSATION IN EACH INDIVIDUAL'S FORM W-2. CONTINGENT PAYMENTS PART I, LINE 5A DEBORAH CAVALIER IS ELIGIBLE TO RECEIVE A PERCENTAGE OF AVAILABLE BONUS DOLLARS ANNUALLY. THE BONUS OF $72,692 REPORTED IN COLUMN B(II) IS EQUAL TO 10% OF THE DIVISION OPERATING MARGIN MINUS APPLICABLE RENT EXPENSES. NON-FIXED PAYMENTS PART I, LINE 7 PERFORMANCE BONUS AMOUNTS ARE REWARDED AT THE DISCRETION OF THE PRESIDENT AND REVIEWED AND ENDORSED BY THE EXECUTIVE COMMITTEE OF THE BOARD. THE BONUSES ARE COMPARED AGAINST MARKET DATA. A MDFA REVENUE BONDS SERIES 2011 043431814 57583UJE9 2011-09-22 95437831 PURCHASE LAND, BUILDING, EQUIPMENT false false false B MDFA REVENUE BONDS SERIES 2016 043431814 57584XUU3 2016-08-01 182938090 REFUND SERIES 2007A/2013 BOCO DEBT false false false A 91732831 0 97850759 0 0 0 678781 0 0 97171978 0 0 2014 false false true true B 8554136 0 182938090 0 234313 0 1009048 0 27018542 0 154676187 0 2016 true true true true A false false true true false 0.00380 0.00380 false false false true B false true true true false 0.00000 0.00910 0.00910 false false false true A false false false true false false 0 false 0 false true B false false false true false false 0 false 0 false true A true B true PROCEEDS OF BOND ISSUE PROCEEDS OF BOND ISSUE SCHEDULE K, PART II, LINE 3 THE DIFFERENCE BETWEEN THE ISSUE PRICE AND TOTAL PROCEEDS FOR BOND ISSUE A IS INVESTMENT EARNINGS OF $2,412,928. REBATE COMPUTATION DATE SCHEDULE K, PART IV, LINE 2C NO REBATE IS DUE ON THE BOND ISSUES. THE COMPUTATION DATES WERE AS FOLLOWS: BOND ISSUE A: 05/31/2018 BOND ISSUE B: 05/31/2018 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. 0 BRUNO RABERG SPOUSE - M. HOWE, OFFICER 125425 EMPLOYMENT - FAMILY MEMBE false SOUND DOG VENTURES LLC TRUSTEE - PETER MULLER 875000 LEASE PAYMENT false X Instruments 13 58311 FMV X Technology 1 174500 FMV 0 false true false CONTRIBUTIONS PART I, COLUMN (B) THE ORGANIZATION IS REPORTING THE NUMBER OF ITEMS RECEIVED. ORGANIZATION'S MISSION FORM 990, PART III, LINE 1 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 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. FOUNDED ON JAZZ AND POPULAR MUSIC ROOTED IN THE AFRICAN CULTURE DIASPORA, OUR COMPREHENSIVE CURRICULUM IS DISTINCTLY CONTEMPORARY IN ITS CONTENT AND APPROACH, AND EMBRACES 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 STYLES, RELEVANT TECHNOLOGIES, AND CAREER OPPORTUNITIES OPEN TO TODAY'S MUSIC PROFESSIONAL. FAMILY RELATIONSHIPS FORM 990, PART VI, SECTION A, LINE 2 EMILIO ESTEFAN AND GLORIA ESTEFAN HAVE A FAMILY RELATIONSHIP. FORM 990 REVIEW PROCESS FORM 990, PART VI, LINE 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 & RISK COMMITTEE FOR THEIR REVIEW AND COMMENTS. ONCE THE DRAFT HAS BEEN REVIEWED BY THE COMMITTEE, THE FINAL FORM 990 IS DISTRIBUTED TO THE FULL BOARD PRIOR TO FILING WITH THE IRS. CONFLICT OF INTEREST POLICY FORM 990, PART VI, LINE 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, KEY EMPLOYEE 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 FORM 990, PART VI, LINE 15A & 15B 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. THE PROCESS FOR DETERMINING THE COMPENSATION OF BERKLEE COLLEGE OF MUSIC'S TOP MANAGEMENT OFFICIALS, INCLUDING THE PRESIDENT AND OTHER HIGHLY COMPENSATED ADMINISTRATORS OF THE COLLEGE, MEETS THE THREE REQUIREMENTS OF THE REBUTTABLE PRESUMPTION PROVISIONS UNDER TREAS. REG. 53.4958-6. JOINT VENTURES FORM 990, PART VI, LINE 16B BERKLEE COLLEGE OF MUSIC REVIEWS ITS PARTICIPATION IN JOINT VENTURE ARRANGEMENTS TO SAFEGUARD AND PROTECT ITS EXEMPT STATUS AND RETAINS LEGAL AND TAX ADVISORS AS NECESSARY. PUBLIC DISCLOSURES FORM 990, PART VI, LINE 19 THE COLLEGE MAKES THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON WRITTEN REQUEST. THE COLLEGE'S FORM 990 IS ALSO AVAILABLE ONLINE AT WWW.GUIDESTAR.ORG AND ON THE MASSACHUSETTS ATTORNEY GENERAL WEBSITE. OTHER CHANGES IN NET ASSETS FORM 990, PART XI, LINE 9 PENSION OBLIGATION CHANGES OTHER THAN NET PERIODIC COSTS (47,698,304) BERKLEE VALENCIA SL AVENIDA PROFESOR LOPEZ PINERO VALENCIA VALENCIA SP 46013 999999999 EDUCATION SP N/A N/A Berklee US true THE BOSTON CONSERVATORY REALTY CORP 8 THE FENWAY BOSTON MA 02215 263644206 REAL ESTATE MA 501(C)(3) LINE 12A, I Berklee US true THE BOSTON CONSERVATORY IPSWICH REALTY 8 THE FENWAY BOSTON MA 02215 454795446 REAL ESTATE MA 501(C)(3) LINE 12A, I Berklee US true Amp UP NYC LLC 855 Boylston Street Boston MA 02116 463537796 Education DE NA RELATED -15069 0 false 0 true 0.50000 false false false true false false false false false false false false false false false false false true true BERKLEE VALENCIA SL D 5026571 SEE PART VII BERKLEE VALENCIA SL R 2235444 SEE PART VII METHOD OF DETERMINING AMOUNT INVOLVED PART V, LINE 2 THE METHOD FOR DETERMINING THE AMOUNT INVOLVED WAS COST OR CURRENCY CONVERSION.