2021-07-09T11:16:24-07:00 2020-08-31 990 2019-09-01 042103550 BOSTON SYMPHONY ORCHESTRA INC BOST 6172661492 301 Massachusetts Avenue Boston MA 02115 Evelyn Barnes Chief Financial Officer 6176389211 2021-07-09 2019 2022-09-23 18:48:47Z Gail Samuel 301 Massachusetts Avenue Boston MA 02115 335209316 0 X www.bso.org X 1918 MA The mission of the Boston Symphony Orchestra (BSO) is to foster and maintain an organization dedicated to the making of music consonant with the highest aspirations of the musical art, creating performances and providing educational and training programs at the highest level of excellence. 44 44 1349 421 -472248 0 37423480 49260675 41278495 18766094 10801217 21348302 6372813 3162131 95876005 92537202 0 0 0 0 57857638 51512150 0 0 5152075 51914459 31321535 109772097 82833685 -13896092 9703517 593071088 625657259 96820536 90624217 496250552 535033042 The mission of the Boston Symphony Orchestra (BSO) is to foster and maintain an organization dedicated to making music consonant with the highest aspirations of the musical art, creating performances and providing educational and training programs at the highest level of excellence. 0 0 58772543 0 17957578 Orchestra Music Programs: The BSO's two beloved orchestral ensembles-the Boston Symphony and Boston Pops-offered 110 live concerts in Boston, which were enjoyed by 235,086 audience members. The BSO's online and radio broadcasts touched more than 18 million people. Internationally recognized as one of the finest orchestras, the BSO is one of the largest orchestral organizations in the world as measured by scope of its operations. Within the U.S., it is the fourth-largest performing arts institution. From September 2019 through mid-March 2020, the BSO presented 66 symphony and 40 Holiday Boston Pops Symphony Hall concerts to the delight of 235,086 audience members. Of those, 14,206 were college students, 1072 received a significant discount having qualified for public assistance, and 6681 were young adults. During that period, the BSO's Education and Community Engagement programs removed barriers so 14,504 people of all ages and backgrounds experienced symphonic music in Symphony Hall and around Greater Boston. The BSO offered 19 free community concerts, including the Symphony Hall Concert for Our City in February conducted by Thomas Wilkins. The BSO's Holiday Pops Sensory Friendly Concert, specifically designed for individuals and families affected by autism, was attended by 1,178 people, whose response was immediate and heartfelt. On March 11, 2020, the World Health Organization declared the outbreak of the coronavirus (COVID-19) a pandemic. The last live performance given in Symphony Hall was a morning Youth Concert on March 12, 2020 with about 165 students in attendance. On March 15, the Boston Public Health Commission (BPHC) declared a public health emergency in the City of Boston due to the pandemic. In response to these events, the Orchestra has, among other things, taken significant action to reduce costs and embarked on a major fundraising effort to ensure sufficient liquidity. Between March and June, the BSO produced 160 video and audio streams that were viewed more than 2.4 million times on bso.org and social media. A highlight was the Boston Pops performance of a socially distanced rendition of John Williams' Summon the Heroes in tribute to frontline workers. The video was seen more than 480,000 times and Boston Magazine named it "the best musical moment of 2020." BSO at Home and Pops at Home featured videos of individual musicians sharing music and their experience. 14 musicians created personalized Notes of Appreciation for health care workers that were distributed over nine weeks to six major hospitals, two hospital networks, and one COVID field facility received a secure link to a personalized music video that they shared with their staff and patients in their own way. The Tanglewood 2020 Online Festival recreated the Tanglewood experience through a mix of 82 free archival offerings, paid access to exclusive new recitals by BSO musicians and guest artists who recorded at Tanglewood or at venues around the world, as well as Tanglewood Learning Institute programs. The Festival programs were seen 40,291 times by 10,500 households. Viewers came from 75 countries on six continents. 2419816 0 285714 Education and Community Programs:Education and community programs are integral to the BSO's mission. Tanglewood Music Center (TMC) Online created weekly spaces where 140 talented young musicians began to build relationships with the members of the Boston Symphony, mentors, and other Fellows, giving them a taste of what TMC can be. The robust program offered more than 100 exchange meetings, spotlight sessions, master classes, broadcasts, and seminars. While no substitute for rehearsing and performing for a live audience, the Fellows who were geographically dispersed benefited from studying with faculty and mentors and from a wide range of special programs. During the fall/winter season, Tanglewood Learning Institute offered its first (and the BSO's first) year-round programming in the Berkshires. TLI programs included performances and opportunities to explore context and meaning using interdisciplinary approaches. 1,766 people attended 30 events. During the 2020 Tanglewood Online Festival, TLI offered four series: MasterPass: masterclasses with leading artists with TMC Fellows, Boston University Tanglewood Institute students and members of the Tanglewood Festival Chorus. ShopTalks: conversations featured notable artists. TLI Celebrates Beethoven: video presentations and discussions with leading Beethoven scholars celebrated the 250th anniversary of Beethoven's birth; and TLIOpenForum: video presentations and panel discussions explored the intersections between music and other disciplines. Education and Community Engagement: In addition to the live activities noted above, in March, the BSO launched BSO Home School. Every week for 14 weeks, more than 2,200 music teachers and parents received an email with links to wide-ranging high-quality music instruction. The music activities on BSO.org were viewed 68,000 times and found an even broader audience on YouTube, where the BSO's videos were viewed more than 200,000 times. BSO Home School offered 83 educational modules that included 25 lesson plans linked to BSO concerts that were available online, 27 musician tutorials, and 31 videos that provided a range of entry points. During the summer, the BSO worked with WBUR to develop several audio episodes of the Circle Round season featuring BSO musicians. These radio plays were downloaded an extraordinary 400,000 times. Weekly activities were offered for children and families to explore the repertoire offered as part of the Online Tanglewood festival and a special Family Fun Fest highlighted 14 cultural organizations in the Berkshires. These programs were available for free. 3376403 0 1098170 Historic Preservation and Conservation and Facility Rental: The BSO's two main properties, Symphony Hall and Tanglewood, have long and significant histories and both attract visitors from near and far. Symphony Hall's acoustic qualities have earned it a place among the top three concert auditoriums in the world, a fact underscored by the hall's 1999 designation as a National Historic Landmark. Symphony Hall resonates with more than a century of performances by key artists. It is also a key performance venue for a number of ensembles and presenters, including the Handel and Haydn Society, the Celebrity Series of Boston, and the Boston Youth Symphony Orchestra. The hall has a 2625 seat capacity. Located in the Berkshire hills of Lenox, Massachusetts and established in 1936 by then-Music Director Serge Koussevitzky, Tanglewood is the summer home of the BSO. Its performance venues-Koussevitzky Music Shed, Seiji Ozawa Concert Hall, and Linde Center-and 80 ancillary buildings are located on 526 pastoral acres in the Berkshire hills in western Massachusetts. This summer, the grounds were open for specific days and times for visitors to walk and enjoy. Built in 1938, the Koussevitzky Music Shed is a seasonal hall open on three sides with 5,121 seats and additional seating for more than 10,000 on the surrounding lawn. BSO concerts are performed in the shed. Opened in 1994, Seiji Ozawa Hall is a brick and wood structure that provides a venue for chamber music performances and serves as the headquarters of the Tanglewood Music Center. It seats 750 audience members on the orchestra level and an additional 450 in the two balconies, as well as hundreds more on the lawn. 271654 0 101751 Electronic Media: As a result the coronavirus pandemic, the BSO was not able to produce performances before a live audience. This was a year when the BSO's digital presence expanded dramatically. The BSO reaches millions who listen via recordings, radio broadcasts, and digital media. Local broadcasts of BSO concerts were heard on 99.5 Classical New England (a subsidiary of public radio station WGBH) and were available to stream via the WGBH website. During the summer, WAMC Northeast Public Radio re-broadcast archival performances on Sunday afternoons reaching audiences across seven mid-Atlantic and New England states and WMHT (public radio out of Schenectady, NY) offered a weekly broadcast featuring TMC. Beginning in March, the BSO's online engagement broadened exponentially. Between March and July, the combined website visitors, video views, emails opened, social media impressions, and audio listens grew to 18.1 million-a 1455% increase from pre-pandemic levels of online engagement. 21121 0 49978 Merchandise Sales: The Boston Symphony operates retail shops at both Symphony Hall and Tanglewood. These shops sell recordings of the BSO and other featured performers, books, music, posters and clothing and other items that serve to promote and disseminate the name and music of the Boston Symphony, Boston Pops and Tanglewood. 292775 0 151729 64861537 1 1 0 1 0 0 0 0 0 1 1 1 0 1 1 1 0 1 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 524 0 1 1349 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 44 44 1 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA MA NJ NY X Evelyn Barnes 6176389211 301 Massachusetts Avenue Boston MA 02115 X Mark Volpe CEO and President 50 1 X 996978 0 44926 John A Ferrillo Jr Principal Oboe 40 0 X 312521 0 65291 Thomas C Rolfs Jr Principal Trumpet 40 0 X 290859 0 39294 Elizabeth Rowe Principal Flute 40 0 X 286015 0 43632 Evelyn Barnes Chief Financial Officer 50 1 X 283716 0 37633 Tamara Smirnova Acting Concertmaster 40 0 X 290900 0 26112 Timothy Genis Timpanist 40 0 X 278011 0 35560 Bart Reidy Clerk of the Board 50 0 X 252571 0 46815 William F Achtmeyer Trustee 2 X 0 0 0 Noubar Afeyan Trustee 2 X 0 0 0 David Altshuler Trustee 2 X 0 0 0 Gregory E Bulger Trustee 2 X 0 0 0 Holly Ambler Trustee 2 X 0 0 0 William N Booth Trustee 2 X 0 0 0 Ronald G Casty Trustee 2 X 0 0 0 Susan Bredhoff Cohen Trustee 2 X 0 0 0 Richard F Connolly Jr Trustee 2 X 0 0 0 Cynthia Curme Trustee 2 X 0 0 0 William Curry MD Trustee 2 0 X 0 0 0 Alan J Dworsky Trustee 2 X 0 0 0 Phillip J Edmundson Trustee 2 X 0 0 0 Thomas E Faust Jr Trustee 2 X 0 0 0 Todd R Golub Trustee 2 X 0 0 0 Michael Gordon Trustee 2 X 0 0 0 Nathan Hayward III Trustee 2 X 0 0 0 Ricki Tigert Helfer Trustee 2 X 0 0 0 Brent L Henry Trustee 2 X 0 0 0 Albert A Holman III Trustee 2 X 0 0 0 Barbara W Hostetter Chair-Elect 2 X 0 0 0 Giselle J Joffre Trustee 2 X 0 0 0 Stephen Kay Trustee 2 X 0 0 0 Edmund Kelly Trustee 2 X 0 0 0 Stephen W Kidder Trustee 2 X 0 0 0 Jeffrey Leiden MD PhD Trustee 2 X 0 0 0 Joyce G Linde Trustee 2 X 0 0 0 John M Loder Trustee 2 X 0 0 0 Nancy K Lubin Trustee 2 X 0 0 0 Joshua A Lutzker Treasurer 2 X X 0 0 0 Carmine A Martignetti Trustee 2 X 0 0 0 Robert J Mayer MD Trustee 2 X 0 0 0 Susan W Paine Chair 2 X X 0 0 0 Peter Palandjian Trustee 2 X 0 0 0 Pamela L Peedin Trustee 2 X 0 0 0 Steven R Perles Trustee 2 X 0 0 0 Lina S Plantilla MD Trustee 2 X 0 0 0 Arthur I Segel Trustee 2 X 0 0 0 Wendy Shattuck Trustee 2 X 0 0 0 Nicole M Stata Trustee 2 X 0 0 0 Theresa M Stone Trustee 2 X 0 0 0 Caroline Taylor Trustee 2 X 0 0 0 Dr Christoph Westphal Trustee 2 X 0 0 0 D Brooks Zug Trustee 2 X 0 0 0 2991571 0 339263 158 0 1 0 Andris Nelsons Konzertdirektion Schmid 40 St Martins Lane London UK UK WC2N 4ER Services of A. Nelsons 810000 Universal Protection Service LP PO Box 828854 Philadelphia PA 19182 Contracted security 569392 Creative Artists Agency 2000 Avenue of the Stars Los Angeles CA 90067 Manager of Performance Artists 550000 Isole Inc 252 Kent Street Brookline MA 02446 Services of K. Lockhart 463767 Lucznski Brothers PO BOX 385 WILLIAMSTOWN MA 01267 Construction services 332458 13 0 0 3162473 0 501314 45596888 5865349 49260675 Concerts & Tours 900099 17957578 17957578 0 0 Education 900099 285714 285714 0 0 Program Advertising 900099 239061 0 239061 0 Parking 900099 181990 0 0 181990 Electronic Media 900099 101751 101751 0 0 0 0 0 0 18766094 1888324 0 -878057 2766381 0 0 0 0 0 0 0 0 4282295 0 1658958 0 2623337 0 2623337 1098170 0 1525167 260050777 0 240590799 0 19459978 0 19459978 0 127894 19332084 274557 3162473 328665 -54108 0 -54108 0 182524 93692 88832 49978 38854 0 Food & Beverage 900099 504070 0 0 504070 0 0 0 0 504070 92537202 19493191 -472248 24255584 X 1662639 0 1363253 299386 0 0 0 0 37010655 31189980 3163081 2657594 3234705 2907747 166255 160703 6269880 5215064 442906 611910 3334271 2905892 205824 222555 0 0 0 0 92657 8870 83787 0 167227 0 167227 0 42610 0 0 42610 0 0 1881026 1881026 0 0 6281265 5822731 353353 105181 2428382 2259931 0 168451 729817 537745 56613 135459 1551102 94405 1418262 38435 26773 26773 0 0 3059138 1480345 1577355 1438 1405514 1374107 16666 14741 0 0 0 0 27255 21017 6238 0 247528 0 247528 0 0 0 0 0 6454130 5010276 1022323 421531 667128 85682 581446 0 Concert production expenses 1202755 1138542 750 63463 Credit Card Fees 568518 500162 986 67370 4488710 2401242 1946220 141248 82833685 64861537 12820073 5152075 18442732 36092792 1212213 1219608 16490405 15981287 3397962 2849861 0 0 0 0 0 0 514524 578688 2564843 2588183 182353509 105193552 83450398 77159957 130783895 72841957 296042757 375413173 40171359 40931753 593071088 625657259 12039261 12554288 9702981 6220706 10000000 10000000 65078294 61849223 96820536 90624217 X 64154309 80888512 432096243 454144530 496250552 535033042 593071088 625657259 X 9703517 25569237 0 0 0 3509736 X 0 1 X 1 0 X 32924905 33247404 41918427 37423480 49260675 194774891 0 0 0 0 0 0 0 0 0 0 0 0 32924905 33247404 41918427 37423480 49260675 194774891 22350534 172424357 4818637 6080385 6446440 5440966 5950506 28736934 590247 332543 573842 0 0 1496632 0 0 0 0 0 0 225008457 193091966 0.76630 0.76843 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 42610 0 0 42610 0 Schedule C, Part II-B, Line 1 The BSO's lobbying activities addressed issues such as state funding and proposed legislation related to historic preservation, tourism, transportation, infrastructure, and education in the context of the arts and nonprofit organizations. A small allocation of the salary of one employee who engaged in lobbying activities on the issues noted above is included in the amount reported. Also, the fee from one consulting firm that has been retained to provide government relations consulting services on the issues noted above is included in the amount reported. In March 2020, the BSO ended its contract with the consulting firm. The BSO pays membership dues to a member organization that engages in lobbying activities. 455898000 8984000 46131000 0 32917000 0 478096000 471546000 6067000 10517000 0 32232000 0 455898000 477751000 8862000 30201000 0 45268000 0 471546000 446379000 9932000 51052000 0 29612000 0 477751000 450319000 7724000 18448000 0 30112000 0 446379000 0.1134 0.4718 0.4148 1 1 1 0 6749799 6749799 0 120282582 66416332 53866250 0 0 0 0 0 43237167 31921326 11315841 0 12083961 6855894 5228067 77159957 Marketable Alternatives 309101295 F Illiquid Equities 35831159 F Real Estate 11132054 F Real Assets 10795394 F Investment in 263 Realty Corp & HA LP 8553271 F 375413173 Assets Held by Others 29840521 Assets of Split Interest Agreements 11091232 40931753 Accrued Liability for Pension and Post Retirement 61849223 61849223 X 117303390 25569237 36925 0 716613 26322775 90980615 1881026 -324439 1556587 92537202 81314022 36925 0 0 324438 361363 80952659 1881026 0 1881026 82833685 Schedule D, Part V, Line 4 The purpose of the endowment is to provide enduring support for the mission of the Orchestra by releasing a substantial and reliable flow of funds to the operating budget. The income earned on the Orchestra's endowment assets may be used for the general or donor-restricted purposes and is recorded as unrestricted net assets or temporarily restricted net assets, as appropriate. Schedule D, Part VI, Line 1e Other includes land improvements and related depreciation and construction in progress. Schedule D, Part VII, Line 3 The investment in 263 HA Limited Partnership is valued at net cost plus accumulated earnings reduced by distribution to the BSO. Schedule D, Part X, Line 2 The Orchestra accounts for the effect of any uncertain tax positions based on a "more likely than not" threshold to the recognition of the tax positions being sustained based on the technical merits of the position under scrutiny by the applicable taxing authority. If a tax position or positions are deemed to result in uncertainties of those positions, the unrecognized tax benefit is estimated based on a "cumulative probability assessment" that aggregates the estimated tax liability for all uncertain tax positions. The Orchestra has identified its tax status as a tax exempt entity and its determinations relative to income that is considered related and unrelated as its only significant tax positions; however, the Orchestra has determined that such tax positions do not result in an uncertainty requiring recognition. The Orchestra is not currently under examination by any taxing jurisdiction. Its federal and state income tax returns are generally open for the past three years following the date filed by the appropriate tax authorities Schedule D, Part XI, Line 2d Change in value of split interest agreements. Schedule D, Part XI, Line 4b Cost of goods sold of ($93,693) and reclass of fundraising expense of $(230,746) Schedule D, Part XII, Line 2d Cost of goods sold of $93,693 and reclass of fundraising expense of $230,746. Central America and the Caribbean 0 0 Investments 123949916 Europe (including Iceland and Greenland) 0 0 Investments 21914772 0 0 145864688 1 0 1 1 1 0 Opening Gala 823496 743812 79684 0 0 0 83018 1500 97919 Corporate Event 833860 643886 189974 0 0 0 89739 48987 0 2 1779674 1774775 4899 0 0 0 7502 0 0 3437030 3162473 274557 0 0 0 180259 50487 97919 328665 -54108 X X X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 Mark Volpe CEO and President 637687 0 0 0 359291 0 8400 0 36526 0 1041904 0 0 0 Evelyn Barnes Chief Financial Officer 283716 0 0 0 0 0 8400 0 29233 0 321349 0 0 Bart Reidy Clerk of the Board 252184 0 0 0 387 0 7350 0 39465 0 299386 0 0 0 John A Ferrillo Jr Principal Oboe 309440 0 0 0 3081 0 35030 0 30261 0 377812 0 0 0 Thomas C Rolfs Jr Principal Trumpet 279019 0 0 0 11840 0 0 0 39294 0 330153 0 0 0 Elizabeth Rowe Principal Flute 265906 0 0 0 20109 0 27624 0 16008 0 329647 0 0 0 Tamara Smirnova Acting Concertmaster 216805 0 66900 0 7195 0 0 0 26112 0 317012 0 0 0 Timothy Genis Timpanist 233974 0 0 0 44037 0 34506 0 1054 0 313571 0 0 0 Schedule J, Part I, Line 1a In connection with the business needs of the Boston Symphony Orchestra (BSO), charter travel is used when transporting large number of personnel in connection with the Orchestra's touring. As a general rule. the BSO does not provide first class travel for employees. 2) In rare instances, the CEO and President's spouse may travel with him for donor cultivation and fundraising purposes. Events attended are related to business purposes of the BSO. Such travel is entered into and substantiated in accordance with the spousal travel policy adopted by the BSO. 3) Housing for Mark Volpe, CEO and President, is provided during the summer for the convenience of the BSO in connection with the Orchestra's activities away from Boston at Tanglewood, and is not considered taxable. Schedule J, Part I, Line 4 The compensation reported for Mark Volpe, CEO and President, for calendar year 2019 includes Base Compensation of $637,687. Other Reportable Compensation includes, 1) taxable fringe in the amount of $23,833 mainly for life and disability insurance and for personal use of a vehicle provided by the BSO; 2) contributions of $19,000 made by Mr. Volpe into a 457(b) plan; and 3) a payment of $316,458 which represents the current year obligation related to a retirement compensation plan established for Mr. Volpe in fiscal year 2007 in recognition of his 10 years of outstanding service to the BSO. As amended in 2013, the plan is to provide Mr. Volpe an annual retirement benefit at age 60 equal to approximately 50% of the average compensation earned during his last 5 years of employment. An irrevocable portion of this benefit is accrued and paid each year that he is employed. X 121 5681305 Fair Market Value X Transportation 3 90007 Fair Market Value X Hospitality Goods 9 94037 Fair Market Value 1 0 1 0 Schedule M, Part I Column B responses represent the number of contributions. Form 990, Part I, Line 6 Volunteers comprise the 153 members of the Boston Symphony Association of volunteers (BSAV), who provide a variety of services both at Symphony Hall and Tanglewood; 44 voting trustees and 224 non-voting members of the governing body. Form 990, Part VI, Section A, Line 2 Trustee Stephan Kay serves on the Board of the Dana-Farber Cancer Institute. The Dana-Farber Cancer Institute employs another trustee, Dr. Robert J. Mayer, MD. Form 990, Part VI, Section A, Line 4 The bylaws were revised, effective January 22, 2020. The main goals of the revision included: 1) The Trustees Board Chair-Elect, in any, shall be an ex-officio, non-voting member of the Executive Committee; and 2) Increasing the number of the voting members to the Executive Committee. Form 990, Part VI, Section B, Line 11b The Form 990 is prepared by BSO management and reviewed by a paid preparer. The complete 990 is then reviewed by the Audit, Risk, and Compliance Committee of the Board of Trustees. The Audit, Risk, and Compliance Committee reviews each section and schedule of the 990, focusing on key changes and substantive disclosures. Subsequent to this review, a copy of the final draft 990, which is the version to be filed with the IRS, is placed in a password-protected website for all members of the Board of Trustees to review in advance of their next board meeting. All members of the Board of Trustees receive an email notifying them that Form 990 is available for review on the site. The final 990 is signed by the Chief Financial Officer and the paid preparer. Form 990, Part VI, Section B, Line 12c The Boston Symphony Orchestra has a Conflict of Interest Policy that encompasses all employees and board members. The policy requires that Trustees, Officers, Advisors, Ex-Officio board members, members of a committee with board-delegated powers, senior staff members or any other person with substantial influence over the BSO disclose the existence of any potential or actual conflicts of interest to the Board or to the Executive Committee. The Board or Executive Committee then discusses and votes to determine whether an actual conflict of interest exists. If a conflict exists, the Board or Executive Committee evaluates the particular transaction or arrangement to determine the most reasonable course of action. The individual who disclosed the conflict must leave the Board or Executive Committee meeting during the discussion of, and the vote on, the transaction or arrangement that results in the conflict of interest. Additionally, the policy also requires any staff member that has information about a possible conflict, to report the matter, promptly, to his or her supervisor, the Director of Human Resources, or the Chief Financial Officer. The Director of Human Resources and the Chief Financial Officer will review the circumstances of the possible conflict with other, appropriate, management to make the determination about the most reasonable course of action. A breach of the conflict of interest policy is grounds for disciplinary action, up to and including termination. Additionally, on an annual basis, all Trustees, Officers, Advisors, Ex-Officio Board members, members of a committee with board delegated powers, senior staff members or any person with substantial influence over the BSO is provided with a copy of the policy and must sign a statement affirming that they have received, read, and understand the policy; they must also affirm that they agree to comply with the policy. As part of this Annual Notice of Policy, each individual is required to disclose any potential or actual conflicts of interest in writing. All responses indicating a potential or actual conflict are subject to review by the Board or Executive Committee as described above. Form 990, Part VI, Section B, Line 15 The BSO has a designated Compensation Committee, comprised of trustees of the BSO, which sets the process for determining and approving compensation for officers and key employees. The Compensation Committee's process includes: (a) development and consideration of comparability data to provide the bases for the Committee's decisions and (b) consideration of (i) applicable accounting and disclosure rules, (ii) emerging trends in corporate governance, and (iii) standards and guidelines promulgated by the Division of Public Charities of the Massachusetts Office of the Attorney General (collectively, the "Compensation Process"). Deliberations of the Compensation Committee in connection with the Compensation Process are contemporaneously documented. When evaluating officers and key employees, the Compensation Committee carefully considers the following factors: (i) duties and responsibilities, (ii) background and experience, (iii) dedication, commitment and work schedule, (iv) leadership, management, and professional skills, (v) overall performance and standing, (vi) BSO's salary scale of employees generally, and (vii) the BSO's annual budget. The Compensation Committee's most recent review of officer and key employee compensation occurred in 2020. Form 990, Part VI, Section C, Line 19 The Boston Symphony Orchestra's audited financial statements, conflict of interest policy and other governing documents are available upon request. Form 990, Part VII, Section A, Line 1b Compensation reported is based on the calendar year 2019 amounts. Form 990, Part VII, Section B, Line 1(C) Compensation reported is based on calendar year 2019 results. Form 990, Part IX, Line 11g Comprises of $6,461,525 of artistic and other concert related fees. Form 990, Part XI, Line 9 Other changes in net assets or fund balances of ($3,509,736) comprise of the change in value of split interest of (716,613) and retirement plan-related charges and other than net periodic benefit costs of ($2,793,123). Boston 4 Celebrations Foundation Inc 301 Massachusetts Avenue Boston MA 02115 043311403 Provide for public celebration on July 4th MA 501 (c) (3) III-FI Boston Symphony Orchestra Inc 1 263 HA Limited Partnership 301 Massachusetts Avenue Boston MA 02115 Real Estate MA 263 Realty Corporation Excluded 1620952 9039689 0 0 0.99 263 Realty Corporation 301 Massachusetts Avenue Boston MA 02115 043252433 Real Esatate MA Boston Symphony C 16373 59976 1 1 Trust 301 Massachusetts Avenue Boston MA 02115 Trust MA Boston Symphony T 1 0 0 0 0 0 0 0 1 0 0 1 0 0 1 1 0 0 0 1 263 HA Limited Partnership k 352201 Fair Market Value. 263 HA Limited Partnership s 1606039 Actual partnership distribution.