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JUILLIARD SCHOOL: Form 990, tax year 2019

View the entire original 990 at ProPublica ↗

Organization
JUILLIARD SCHOOL (EIN 13-1624067)
Tax period
2019-07-01 to 2020-06-30
Filed
2021-05-17
IRS object ID
202121379349301662
Schema version
2019v5.1
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2021-05-17T09:09:36-05:00ReturnTs
Tax Period End2020-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1GRANT THORNTON LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1757 THIRD AVENUE 3RD FLOORAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP100172013ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2019-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN131624067EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Juilliard SchoolBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% MICHAEL KERSTANInCareOfNm
Business Name ControlJUILBusinessNameControlTxt
Phone2127995000PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line160 Lincoln Center PlazaAddressLine1Txt
CityNew YorkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10023ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonCHRISTINE TODDPersonNm
Person TitleVP & CFOPersonTitleTxt
Phone2127995000PhoneNum
Signature2021-05-17SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonDaniel RomanoPreparerPersonNm
PTINP00504182PTIN
Phone2125990100PhoneNum
FieldValueIRS element (for citing)
Tax2019TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerDAMIAN WOETZELPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line160 Lincoln Center PlazaAddressLine1Txt
CityNew YorkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10023ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$805,368,735GrossReceiptsAmt
Group Return For AffiliatesfalseGroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressWWW.JUILLIARD.EDUWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation1934FormationYr
Legal Domicile StateNYLegalDomicileStateCd
Activity Or MissionProvide the highest caliber of artistic education for gifted musicians, dancers, and actors from around the world.ActivityOrMissionDesc
Voting Members Governing Body33VotingMembersGoverningBodyCnt
Voting Members Independent32VotingMembersIndependentCnt
Total Employee2967TotalEmployeeCnt
Total Volunteers47TotalVolunteersCnt
Total Gross UBI-$2,085,466TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm-$2,395,893NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$28,153,160PYContributionsGrantsAmt
CY Contributions Grants$38,377,052CYContributionsGrantsAmt
PY Program Service Revenue$64,511,264PYProgramServiceRevenueAmt
CY Program Service Revenue$65,805,497CYProgramServiceRevenueAmt
PY Investment Income$39,441,980PYInvestmentIncomeAmt
CY Investment Income$35,930,574CYInvestmentIncomeAmt
PY Other Revenue$359,712PYOtherRevenueAmt
CY Other Revenue$458,162CYOtherRevenueAmt
PY Total Revenue$132,466,116PYTotalRevenueAmt
CY Total Revenue$140,571,285CYTotalRevenueAmt
PY Grants And Similar Paid$28,256,965PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$29,745,129CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$65,448,891PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$66,937,265CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$4,375,223CYTotalFundraisingExpenseAmt
PY Other Expenses$50,136,422PYOtherExpensesAmt
CY Other Expenses$47,559,347CYOtherExpensesAmt
PY Total Expenses$143,842,278PYTotalExpensesAmt
CY Total Expenses$144,241,741CYTotalExpensesAmt
PY Revenues Less Expenses-$11,376,162PYRevenuesLessExpensesAmt
CY Revenues Less Expenses-$3,670,456CYRevenuesLessExpensesAmt
Total Assets BOY$1,294,779,346TotalAssetsBOYAmt
Total Assets EOY$1,273,604,876TotalAssetsEOYAmt
Total Liabilities BOY$261,584,576TotalLiabilitiesBOYAmt
Total Liabilities EOY$283,872,799TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$1,033,194,770NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$989,732,077NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionThe 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.MissionDesc
Significant New Program SrvcfalseSignificantNewProgramSrvcInd
Significant ChangefalseSignificantChangeInd
Expense$66,919,727ExpenseAmt
Grant$0GrantAmt
Revenue$46,927,458RevenueAmt
DescJuilliards 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.Desc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

FieldValueIRS element (for citing)
Expense$29,389,311ExpenseAmt
Grant$29,389,311GrantAmt
Revenue$0RevenueAmt
DescProviding 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 86% of the college population of the school (889 students in total) received student assistance during 2019-20.Desc

Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp

FieldValueIRS element (for citing)
Expense$6,738,543ExpenseAmt
Grant$355,818GrantAmt
Revenue$5,345,201RevenueAmt
DescDuring 2019-20 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.Desc

Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp (2 entries)

ExpenseExpenseAmtGrantGrantAmtRevenueRevenueAmtDescDesc
$5,505,887$0$367,563STUDENT PERFORMING ARTS PRODUCTION
$3,986,677$0$13,725,778INTERNATIONAL EDUCATION
FieldValueIRS element (for citing)
Total Other Prog Srvc Expense$9,492,564TotalOtherProgSrvcExpenseAmt
Total Other Prog Srvc Grant$0TotalOtherProgSrvcGrantAmt
Total Other Prog Srvc Revenue$14,093,341TotalOtherProgSrvcRevenueAmt
Total Program Service Expenses$112,540,145TotalProgramServiceExpensesAmt
Described In Section501c3Yes (true)DescribedInSection501c3Ind
Schedule B RequiredYes (true)ScheduleBRequiredInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Lobbying ActivitiesYes (true)LobbyingActivitiesInd
Subject To Proxy TaxfalseSubjectToProxyTaxInd
Donor Advised FundfalseDonorAdvisedFundInd
Conservation EasementsfalseConservationEasementsInd
Collections Of ArtYes (true)CollectionsOfArtInd
Credit CounselingfalseCreditCounselingInd
Donor Rstr Or Quasi EndowmentsYes (true)DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (true)ReportLandBuildingEquipmentInd
Report Investments Other SecYes (true)ReportInvestmentsOtherSecInd
Report Program Related InvstfalseReportProgramRelatedInvstInd
Report Other AssetsfalseReportOtherAssetsInd
Report Other LiabilitiesYes (true)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (true)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtfalseIndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtYes (true)ConsolidatedAuditFinclStmtInd
School OperatingYes (true)SchoolOperatingInd
Foreign OfficefalseForeignOfficeInd
Foreign ActivitiesYes (true)ForeignActivitiesInd
More Than5000 K To OrgfalseMoreThan5000KToOrgInd
More Than5000 K To IndividualsfalseMoreThan5000KToIndividualsInd
Professional FundraisingfalseProfessionalFundraisingInd
Fundraising ActivitiesYes (true)FundraisingActivitiesInd
Gaming ActivitiesfalseGamingActivitiesInd
Operate HospitalfalseOperateHospitalInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Grants To IndividualsYes (true)GrantsToIndividualsInd
Schedule J RequiredYes (true)ScheduleJRequiredInd
Tax Exempt BondsYes (true)TaxExemptBondsInd
Invest Tax Exempt BondsfalseInvestTaxExemptBondsInd
Escrow AccountfalseEscrowAccountInd
On Behalf Of IssuerfalseOnBehalfOfIssuerInd
Engaged In Excess Benefit TransfalseEngagedInExcessBenefitTransInd
PY Excess Benefit TransfalsePYExcessBenefitTransInd
Loan OutstandingfalseLoanOutstandingInd
Grant To Related PersonfalseGrantToRelatedPersonInd
Business Rln With Org MemfalseBusinessRlnWithOrgMemInd
Business Rln With Fam MemfalseBusinessRlnWithFamMemInd
Business Rln With35 Ctrl EntfalseBusinessRlnWith35CtrlEntInd
Deductible Non Cash ContriYes (true)DeductibleNonCashContriInd
Deductible Art ContributionYes (true)DeductibleArtContributionInd
Terminate OperationsfalseTerminateOperationsInd
Partial LiquidationfalsePartialLiquidationInd
Disregarded EntityYes (true)DisregardedEntityInd
Related EntityYes (true)RelatedEntityInd
Related Organization Ctrl EntYes (true)RelatedOrganizationCtrlEntInd
Transaction With Control EntYes (true)TransactionWithControlEntInd
Trnsfr Exmpt Non Chrtbl Rltd OrgfalseTrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted PrtshpfalseActivitiesConductedPrtshpInd
Schedule O RequiredYes (true)ScheduleORequiredInd
IRP Document506IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (true)BackupWthldComplianceInd
Employee2967EmployeeCnt
Employment Tax Returns FiledYes (true)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over LimitYes (true)UnrelatedBusIncmOverLimitInd
Form990 T FiledYes (true)Form990TFiledInd
Foreign Financial AccountYes (true)ForeignFinancialAccountInd
Foreign CountryCHForeignCountryCd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Taxable Party NotificationfalseTaxablePartyNotificationInd
Nondeductible ContributionsfalseNondeductibleContributionsInd
Quid Pro Quo ContributionsYes (true)QuidProQuoContributionsInd
Quid Pro Quo Contri DisclYes (true)QuidProQuoContriDisclInd
Form8282 Property Disposed OffalseForm8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Indoor Tanning ServicesfalseIndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst IncYes (true)SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members33GoverningBodyVotingMembersCnt
Independent Voting Member32IndependentVotingMemberCnt
Family Or Business RlnYes (true)FamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesfalseDelegationOfMgmtDutiesInd
Change To Org DocumentsfalseChangeToOrgDocumentsInd
Material Diversion Or MisusefalseMaterialDiversionOrMisuseInd
Members Or StockholdersfalseMembersOrStockholdersInd
Election Of Board MembersfalseElectionOfBoardMembersInd
Decisions Subject To ApprovafalseDecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (true)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (true)MinutesOfCommitteesInd
Officer Mailing AddressfalseOfficerMailingAddressInd
Local ChaptersfalseLocalChaptersInd
Form990 Provided To Gvrn BodyYes (true)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (true)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (true)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (true)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (true)WhistleblowerPolicyInd
Document Retention PolicyYes (true)DocumentRetentionPolicyInd
Compensation Process CEOYes (true)CompensationProcessCEOInd
Compensation Process OtherYes (true)CompensationProcessOtherInd
Investment In Joint VenturefalseInvestmentInJointVentureInd
States Where Copy Of Return Is FldCAStatesWhereCopyOfReturnIsFldCd
States Where Copy Of Return Is FldNYStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonMICHAEL KERSTANPersonNm
Phone2127995000PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line160 LINCOLN CENTER PLAZAAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10023ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (46 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtAverage Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtHighest Compensated EmployeeHighestCompensatedEmployeeIndKey EmployeeKeyEmployeeInd
Damian Woetzel
President50.00.0Yes (X)Yes (X)$855,970$0$78,526
Lesley Rosenthal
Chief Operating Officer50.00.0Yes (X)$498,721$0$36,956
Maurice Edelson
VP Admin & Gen Counsel50.00.0Yes (X)$431,069$0$67,395
Alexandra Wheeler
VP & Chief Advancement Officer50.00.0Yes (X)$420,380$0$64,956
Ara Guzelimian
Provost & Dean50.00.0Yes (X)$414,371$0$67,396
Joseph W Polisi
Chief China Officer50.00.0Yes (X)$423,990$0$56,658
Christine Todd
VP & CFO50.00.0Yes (X)$335,081$0$44,191
Carl Young
Chief Information Officer50.00.0$321,072$0$41,593Yes (X)
Matti Raekallio
Faculty50.00.0$304,927$0$48,850Yes (X)
Li Lin
Faculty50.00.0$264,135$0$59,809Yes (X)
Yoheved Kaplinsky
Artistic Director & Faculty50.00.0$276,036$0$35,285Yes (X)
Evan D Yionoulis
Deputy General Counsel50.00.0$270,758$0$31,456Yes (X)
Joan Warren
VP for Enroll & Student Dev50.00.0$244,615$0$41,927Yes (X)
Bruce Kovner
Chairman3.00.0Yes (X)Yes (X)$0$0$0
Katheryn Patterson
Vice Chairman2.00.0Yes (X)Yes (X)$0$0$0
J Christopher Kojima
Vice Chairman2.00.0Yes (X)Yes (X)$0$0$0
Joshua Black
Trustee (As of 02/2020)1.00.0Yes (X)$0$0$0
Julie Choi
Trustee2.00.0Yes (X)$0$0$0
Kent Clark
Trustee2.00.0Yes (X)$0$0$0
Barbara Fleischman
Trustee1.00.0Yes (X)$0$0$0
Mary Graham
Trustee1.00.0Yes (X)$0$0$0
Joan Harris
Trustee1.00.0Yes (X)$0$0$0
Matthew Jacobson
Trustee1.00.0Yes (X)$0$0$0
Edward Johnson Jr
Trustee1.00.0Yes (X)$0$0$0
Philippe Khuong-Huu
Trustee (As of 10/2019)1.00.0Yes (X)$0$0$0
Karen Levy
Trustee1.00.0Yes (X)$0$0$0
Teresa Lindsay
Trustee1.00.0Yes (X)$0$0$0
Laura Linney
Trustee1.00.0Yes (X)$0$0$0
Michael Loeb
Trustee1.00.0Yes (X)$0$0$0
Vincent Mai
Trustee1.00.0Yes (X)$0$0$0
Ellen Marcus
Trustee1.00.0Yes (X)$0$0$0
Greg Margolies
Trustee1.00.0Yes (X)$0$0$0
Nancy Marks
Trustee (Thru 06/2020)1.00.0Yes (X)$0$0$0
Stephanie P McClelland
Trustee1.00.0Yes (X)$0$0$0
Christina McInerney
Trustee1.00.0Yes (X)$0$0$0
Lester Morse Jr
Trustee1.00.0Yes (X)$0$0$0
Stephen Novick
Trustee1.00.0Yes (X)$0$0$0
Susan Rose
Trustee1.00.0Yes (X)$0$0$0
Jeffrey Seller
Trustee1.00.0Yes (X)$0$0$0
Deborah Simon
Trustee1.00.0Yes (X)$0$0$0
Sarah B Solomon
Trustee1.00.0Yes (X)$0$0$0
William Stricker
Trustee1.00.0Yes (X)$0$0$0
Yael Taqqu
Trustee1.00.0Yes (X)$0$0$0
Reggie Van Lee
Trustee (As of 12/2019)1.00.0Yes (X)$0$0$0
Nancy Walton Laurie
Trustee (As of 12/2019)1.00.0Yes (X)$0$0$0
Camille Zamora
Trustee1.00.0Yes (X)$0$0$0
FieldValueIRS element (for citing)
Total Reportable Comp From Org$5,061,125TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$674,998TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K119IndivRcvdGreaterThan100KCnt
Former Ofcr Employees ListedfalseFormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (true)TotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (5 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
INVESTURE LLC
126 GARRETT STREET SUITE JCHARLOTTESVILLEVA22902Investment MGMT$3,763,235
BARES CAPITAL
12600 HILL COUNTRY BLVD R-230BEE CAVETX78738Investment MGMT$504,650
HOGAN LOVELLS US LLP
PO BOX 75890BALTIMOREMD212755890Legal Services$442,428
THE GI GROUP LLC
422 MORRIS AVENUESUMMITNJ07901executive search$272,145
HURON CONSULTING GROUP INC
PO BOX 71223CHICAGOIL60694consulting$214,997
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K15CntrctRcvdGreaterThan100KCnt
Fundraising$917,333FundraisingAmt
Government Grants$1,633,780GovernmentGrantsAmt
All Other Contributions$35,825,939AllOtherContributionsAmt
Noncash Contributions$2,637,605NoncashContributionsAmt
Total Contributions$38,377,052TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (5 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmtUnrelated Business RevenueUnrelatedBusinessRevenueAmtExclusionExclusionAmt
TUITION & FEES616000$46,864,442$46,864,442$0$0
INT'L PROGRAM DEV AND OPERATIONS900099$13,725,778$13,725,778
RESIDENCE HALL611710$4,734,714$4,437,766$0$296,948
USER FEES, EDUCATION PROGRAM611710$479,054$479,054$0$0
STUDENT LOAN INCOME900099$1,509$1,509$0$0
FieldValueIRS element (for citing)
Total Program Service Revenue$65,805,497TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$2,195,536TotalRevenueColumnAmt
Unrelated Business Revenue-$2,085,466UnrelatedBusinessRevenueAmt
Exclusion$4,281,002ExclusionAmt

Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp

FieldValueIRS element (for citing)
Total Revenue Column$0TotalRevenueColumnAmt

Royalties Revenue RoyaltiesRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$0TotalRevenueColumnAmt

Rental Income Or Loss RentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Real$0RealAmt
Personal$0PersonalAmt

Net Rental Income Or Loss NetRentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Total Revenue Column$0TotalRevenueColumnAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

FieldValueIRS element (for citing)
Securities$697,470,396SecuritiesAmt
Other$23,060OtherAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

FieldValueIRS element (for citing)
Securities$663,758,418SecuritiesAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Securities$33,711,978SecuritiesAmt
Other$23,060OtherAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

FieldValueIRS element (for citing)
Total Revenue Column$33,735,038TotalRevenueColumnAmt
Exclusion$33,735,038ExclusionAmt
FieldValueIRS element (for citing)
Fundraising Gross Income$61,250FundraisingGrossIncomeAmt
Contri Rpt Fundraising Event$917,333ContriRptFundraisingEventAmt
Fundraising Direct Expenses$284,029FundraisingDirectExpensesAmt

Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp

FieldValueIRS element (for citing)
Total Revenue Column-$222,779TotalRevenueColumnAmt
Exclusion-$222,779ExclusionAmt
FieldValueIRS element (for citing)
Gaming Gross Income$0GamingGrossIncomeAmt
Gaming Direct Expenses$0GamingDirectExpensesAmt

Net Income From Gaming NetIncomeFromGamingGrp

FieldValueIRS element (for citing)
Total Revenue Column$0TotalRevenueColumnAmt
FieldValueIRS element (for citing)
Gross Sales Of Inventory$1,315,506GrossSalesOfInventoryAmt
Cost Of Goods Sold$755,003CostOfGoodsSoldAmt

Net Income Or Loss NetIncomeOrLossGrp

FieldValueIRS element (for citing)
Total Revenue Column$560,503TotalRevenueColumnAmt
Related Or Exempt Func Income$560,503RelatedOrExemptFuncIncomeAmt

Other Revenue Misc OtherRevenueMiscGrp (2 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmtUnrelated Business RevenueUnrelatedBusinessRevenueAmtExclusionExclusionAmt
VENDING MACHINE900099$10,701$0$0$10,701
MISCELLANEOUS REVENUE900099$109,737$0$0$109,737
FieldValueIRS element (for citing)
Other Revenue Total$120,438OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$140,571,285TotalRevenueColumnAmt
Related Or Exempt Func Income$66,069,052RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue-$2,085,466UnrelatedBusinessRevenueAmt
Exclusion$38,210,647ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

FieldValueIRS element (for citing)
Total$29,745,129TotalAmt
Program Services$29,745,129ProgramServicesAmt

Foreign Grants ForeignGrantsGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Benefits To Members BenefitsToMembersGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$4,319,294TotalAmt
Program Services$1,260,170ProgramServicesAmt
Management And General$2,353,999ManagementAndGeneralAmt
Fundraising$705,125FundraisingAmt

Comp Disqual Persons CompDisqualPersonsGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$49,317,157TotalAmt
Program Services$39,345,409ProgramServicesAmt
Management And General$7,770,066ManagementAndGeneralAmt
Fundraising$2,201,682FundraisingAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$3,125,383TotalAmt
Program Services$2,493,443ProgramServicesAmt
Management And General$492,413ManagementAndGeneralAmt
Fundraising$139,527FundraisingAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$6,207,436TotalAmt
Program Services$4,952,316ProgramServicesAmt
Management And General$977,999ManagementAndGeneralAmt
Fundraising$277,121FundraisingAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$3,967,995TotalAmt
Program Services$3,003,978ProgramServicesAmt
Management And General$748,973ManagementAndGeneralAmt
Fundraising$215,044FundraisingAmt

Fees For Services Management FeesForServicesManagementGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$726,175TotalAmt
Program Services$315,966ProgramServicesAmt
Management And General$381,265ManagementAndGeneralAmt
Fundraising$28,944FundraisingAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$190,857TotalAmt
Management And General$190,857ManagementAndGeneralAmt

Fees For Services Lobbying FeesForServicesLobbyingGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Fees For Services Prof Fundraising FeesForServicesProfFundraising

FieldValueIRS element (for citing)
Total$0TotalAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

FieldValueIRS element (for citing)
Total$5,734,860TotalAmt
Management And General$5,734,860ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$2,139,178TotalAmt
Program Services$451,170ProgramServicesAmt
Management And General$1,473,483ManagementAndGeneralAmt
Fundraising$214,525FundraisingAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$1,140,268TotalAmt
Program Services$898,947ProgramServicesAmt
Management And General$48,264ManagementAndGeneralAmt
Fundraising$193,057FundraisingAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$1,314,001TotalAmt
Program Services$906,408ProgramServicesAmt
Management And General$378,479ManagementAndGeneralAmt
Fundraising$29,114FundraisingAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$2,231,557TotalAmt
Management And General$2,231,557ManagementAndGeneralAmt

Royalties RoyaltiesGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$7,497,836TotalAmt
Program Services$6,955,779ProgramServicesAmt
Management And General$452,091ManagementAndGeneralAmt
Fundraising$89,966FundraisingAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$872,249TotalAmt
Program Services$847,881ProgramServicesAmt
Management And General$20,090ManagementAndGeneralAmt
Fundraising$4,278FundraisingAmt

Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$126,648TotalAmt
Program Services$90,593ProgramServicesAmt
Management And General$3,278ManagementAndGeneralAmt
Fundraising$32,777FundraisingAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$8,342,356TotalAmt
Program Services$7,508,120ProgramServicesAmt
Management And General$750,812ManagementAndGeneralAmt
Fundraising$83,424FundraisingAmt

Payments To Affiliates PaymentsToAffiliatesGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$9,436,442TotalAmt
Program Services$8,597,706ProgramServicesAmt
Management And General$755,744ManagementAndGeneralAmt
Fundraising$82,992FundraisingAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$2,187,269TotalAmt
Management And General$2,187,269ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmtFundraisingFundraisingAmt
PERFORMANCE PRODUCTION$2,014,328$2,014,328$0$0
AUXILIARY SERVICES$1,577,891$1,577,891$0$0
INSTRUMENT PURCH & MAINT$571,439$571,439$0$0
STDT ACTIVITIES & OUTREACH$301,169$301,169$0$0

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$1,154,824TotalAmt
Program Services$702,303ProgramServicesAmt
Management And General$374,874ManagementAndGeneralAmt
Fundraising$77,647FundraisingAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$144,241,741TotalAmt
Program Services$112,540,145ProgramServicesAmt
Management And General$27,326,373ManagementAndGeneralAmt
Fundraising$4,375,223FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$7,116,731BOYAmt
EOY$7,364,264EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
BOY$11,929,600BOYAmt
EOY$21,211,966EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$14,062,464BOYAmt
EOY$15,333,968EOYAmt

Receivables From Officers Etc ReceivablesFromOfficersEtcGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

FieldValueIRS element (for citing)
BOY$605,306BOYAmt
EOY$485,382EOYAmt

Inventories For Sale Or Use InventoriesForSaleOrUseGrp

FieldValueIRS element (for citing)
BOY$978,677BOYAmt
EOY$1,118,292EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$1,223,892BOYAmt
EOY$5,764,064EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$287,962,106LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$146,589,583LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$146,616,414BOYAmt
EOY$141,372,523EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

FieldValueIRS element (for citing)
BOY$143,898,741BOYAmt
EOY$127,746,714EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

FieldValueIRS element (for citing)
BOY$962,407,309BOYAmt
EOY$948,283,147EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Intangible Assets IntangibleAssetsGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$5,940,212BOYAmt
EOY$4,924,556EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$1,294,779,346BOYAmt
EOY$1,273,604,876EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$11,060,834BOYAmt
EOY$11,990,030EOYAmt

Grants Payable GrantsPayableGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Deferred Revenue DeferredRevenueGrp

FieldValueIRS element (for citing)
BOY$1,856,631BOYAmt
EOY$1,283,380EOYAmt

Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$194,185,792BOYAmt
EOY$193,939,759EOYAmt

Escrow Account Liability EscrowAccountLiabilityGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Loans From Officers Directors LoansFromOfficersDirectorsGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$54,481,319BOYAmt
EOY$76,659,630EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$261,584,576BOYAmt
EOY$283,872,799EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$170,436,648BOYAmt
EOY$143,212,428EOYAmt

Donor Restriction Net Assets DonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$862,758,122BOYAmt
EOY$846,519,649EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$1,033,194,770BOYAmt
EOY$989,732,077EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$1,294,779,346BOYAmt
EOY$1,273,604,876EOYAmt
FieldValueIRS element (for citing)
Info In Schedule O Part XIYes (X)InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss-$3,670,456ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst-$16,954,739NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets-$22,837,498OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or ReviewfalseAccountantCompileOrReviewInd
FS AuditedYes (true)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Consolidated Basis Fincl StmtYes (X)ConsolidatedBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (true)AuditCommitteeInd
Federal Grant Audit RequiredYes (true)FederalGrantAuditRequiredInd
Federal Grant Audit PerformedYes (true)FederalGrantAuditPerformedInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
SchoolYes (X)SchoolInd

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$45,929,634CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$28,809,594CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$38,270,781CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$28,153,160CurrentTaxYearMinus1YearAmt
Current Tax Year$38,377,052CurrentTaxYearAmt
Total$179,540,221TotalAmt

Tax Rev Levied Orgnztnl Bnft170 TaxRevLeviedOrgnztnlBnft170Grp

FieldValueIRS element (for citing)
Total$0TotalAmt

Govt Furn Srvc Fclts Vl170 GovtFurnSrvcFcltsVl170Grp

FieldValueIRS element (for citing)
Total$0TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$45,929,634CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$28,809,594CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$38,270,781CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$28,153,160CurrentTaxYearMinus1YearAmt
Current Tax Year$38,377,052CurrentTaxYearAmt
Total$179,540,221TotalAmt
FieldValueIRS element (for citing)
Substantial Contributors Tot$47,440,925SubstantialContributorsTotAmt
Public Support Total170$132,099,296PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$1,043,901CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$505,848CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$1,415,470CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$2,238,440CurrentTaxYearMinus1YearAmt
Current Tax Year$2,195,536CurrentTaxYearAmt
Total$7,399,195TotalAmt

Unrelated Business Net Incm170 UnrelatedBusinessNetIncm170Grp

FieldValueIRS element (for citing)
Total$0TotalAmt

Other Income170 OtherIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$2,199,446CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$2,049,306CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$3,355,149CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$2,306,131CurrentTaxYearMinus1YearAmt
Current Tax Year$1,497,194CurrentTaxYearAmt
Total$11,407,226TotalAmt
FieldValueIRS element (for citing)
Total Support$198,346,642TotalSupportAmt
Gross Receipts Rltd Activities$304,066,011GrossReceiptsRltdActivitiesAmt
Public Support CY1700.66600PublicSupportCY170Pct
Public Support PY1700.63843PublicSupportPY170Pct
Thirty Thr Pct Suprt Tests CY170Yes (X)ThirtyThrPctSuprtTestsCY170Ind

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule C IRS990ScheduleC

FieldValueIRS element (for citing)
Total Grassroots LobbyingTotalGrassrootsLobbyingGrp
Total Direct LobbyingTotalDirectLobbyingGrp
Total Lobbying ExpendTotalLobbyingExpendGrp
Other Exempt Purpose ExpendOtherExemptPurposeExpendGrp
Total Exempt Purpose ExpendTotalExemptPurposeExpendGrp
Lobbying Nontaxable AmountLobbyingNontaxableAmountGrp
Grassroots NontaxableGrassrootsNontaxableGrp
Tot Lbbyng Grassroot Mns Non TxTotLbbyngGrassrootMnsNonTxGrp
Tot Lbby Expend Mns Lbbyng Non TxTotLbbyExpendMnsLbbyngNonTxGrp
VolunteersfalseVolunteersInd
Paid Staff Or ManagementfalsePaidStaffOrManagementInd
Media AdvertisementsfalseMediaAdvertisementsInd
Mailings MembersfalseMailingsMembersInd
Publications Or BroadcastfalsePublicationsOrBroadcastInd
Grants Other OrganizationsfalseGrantsOtherOrganizationsInd
Direct Contact LegislatorsfalseDirectContactLegislatorsInd
Rallies DemonstrationsfalseRalliesDemonstrationsInd
Other ActivitiesYes (true)OtherActivitiesInd
Not Described Section501c3falseNotDescribedSection501c3Ind

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceSCHEDULE CFormAndLineReferenceDesc
ExplanationTHE 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.ExplanationTxt

Schedule D IRS990ScheduleD

FieldValueIRS element (for citing)
Art Public Exhibition AmountsArtPublicExhibitionAmountsGrp
Held Works ArtHeldWorksArtGrp
Collection Used Pub ExhibitionYes (X)CollectionUsedPubExhibitionInd
Coll Used Scholarly RsrchYes (X)CollUsedScholarlyRsrchInd
Collection Used PreservationYes (X)CollectionUsedPreservationInd
Solicited Assets SalefalseSolicitedAssetsSaleInd

CY Endwmt Fund CYEndwmtFundGrp

FieldValueIRS element (for citing)
Beginning Year Balance$1,092,632,637BeginningYearBalanceAmt
Contributions$3,717,439ContributionsAmt
Investment Earnings Or Losses$12,227,898InvestmentEarningsOrLossesAmt
Grants Or Scholarships$18,674,249GrantsOrScholarshipsAmt
Other Expenditures$36,984,076OtherExpendituresAmt
End Year Balance$1,052,919,649EndYearBalanceAmt

CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp

FieldValueIRS element (for citing)
Beginning Year Balance$1,095,547,708BeginningYearBalanceAmt
Contributions$11,841,106ContributionsAmt
Investment Earnings Or Losses$39,328,571InvestmentEarningsOrLossesAmt
Grants Or Scholarships$18,564,103GrantsOrScholarshipsAmt
Other Expenditures$35,520,645OtherExpendituresAmt
End Year Balance$1,092,632,637EndYearBalanceAmt

CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp

FieldValueIRS element (for citing)
Beginning Year Balance$1,035,383,858BeginningYearBalanceAmt
Contributions$22,221,804ContributionsAmt
Investment Earnings Or Losses$89,804,040InvestmentEarningsOrLossesAmt
Grants Or Scholarships$17,146,361GrantsOrScholarshipsAmt
Other Expenditures$34,715,633OtherExpendituresAmt
End Year Balance$1,095,547,708EndYearBalanceAmt

CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp

FieldValueIRS element (for citing)
Beginning Year Balance$922,956,446BeginningYearBalanceAmt
Contributions$25,794,167ContributionsAmt
Investment Earnings Or Losses$137,320,774InvestmentEarningsOrLossesAmt
Grants Or Scholarships$15,617,448GrantsOrScholarshipsAmt
Other Expenditures$35,070,081OtherExpendituresAmt
End Year Balance$1,035,383,858EndYearBalanceAmt

CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp

FieldValueIRS element (for citing)
Beginning Year Balance$988,697,264BeginningYearBalanceAmt
Contributions$18,318,818ContributionsAmt
Investment Earnings Or Losses-$34,644,535InvestmentEarningsOrLossesAmt
Grants Or Scholarships$14,956,473GrantsOrScholarshipsAmt
Other Expenditures$34,458,628OtherExpendituresAmt
End Year Balance$922,956,446EndYearBalanceAmt
FieldValueIRS element (for citing)
Board Designated Balance EOY0.26200BoardDesignatedBalanceEOYPct
Prmnnt Endowment Balance EOY0.73800PrmnntEndowmentBalanceEOYPct
Endowments Held Unrelated OrgfalseEndowmentsHeldUnrelatedOrgInd
Endowments Held Related OrgfalseEndowmentsHeldRelatedOrgInd

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$2,421,438OtherCostOrOtherBasisAmt
Book Value$2,421,438BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$33,308,239OtherCostOrOtherBasisAmt
Depreciation$29,452,428DepreciationAmt
Book Value$3,855,811BookValueAmt

Leasehold Improvements LeaseholdImprovementsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$213,016,301OtherCostOrOtherBasisAmt
Depreciation$93,873,726DepreciationAmt
Book Value$119,142,575BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$32,557,348OtherCostOrOtherBasisAmt
Depreciation$23,263,429DepreciationAmt
Book Value$9,293,919BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$6,658,780OtherCostOrOtherBasisAmt
Depreciation$0DepreciationAmt
Book Value$6,658,780BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$141,372,523TotalBookValueLandBuildingsAmt
Financial DerivativesFinancialDerivativesGrp
Closely Held Equity InterestsCloselyHeldEquityInterestsGrp

Other Securities OtherSecuritiesGrp (6 entries)

DescDescBook ValueBookValueAmtMethod ValuationMethodValuationCd
GLOBAL EQUITY$305,751,210F
MULTI-STRATEGY$313,592,160F
PRIVATE EQUITY$233,458,126F
EMERGING MARKETS$87,301,026F
CREDIT$6,047,756F
OTHER INVESTMENTS$2,132,869F
FieldValueIRS element (for citing)
Total Book Value Securities$948,283,147TotalBookValueSecuritiesAmt
Federal Income Tax Liability$0FederalIncomeTaxLiabilityAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)

DescDescAmtAmt
FAIR VALUE OF DERIVATIVE INSTRUMENTS$73,090,178
LIABILITIES TO ANNUITANTS$3,192,301
FEDERAL LOAN CAPITAL ADVANCES$377,151
FieldValueIRS element (for citing)
Total Liability$76,659,630TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$69,827,660TotalRevEtcAuditedFinclStmtAmt
Net Unrealized Gains Invst-$16,954,739NetUnrealizedGainsInvstAmt
Other Revenue-$22,837,498OtherRevenueAmt
Revenue Not Reported-$39,792,237RevenueNotReportedAmt
Revenue Subtotal$109,619,897RevenueSubtotalAmt
Investment Expenses Not Incld$5,734,860InvestmentExpensesNotIncldAmt
Other Revenues Not Included$25,216,528OtherRevenuesNotIncludedAmt
Revenue Not Reported Fincl Stmt$30,951,388RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$140,571,285TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$113,290,353TotExpnsEtcAuditedFinclStmtAmt
Expenses Subtotal$113,290,353ExpensesSubtotalAmt
Investment Expenses Not Incld2$5,734,860InvestmentExpensesNotIncld2Amt
Other Expenses Not Included$25,216,528OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt$30,951,388ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$144,241,741TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (7 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FINANCIAL STATEMENT FOOTNOTESCHEDULE D, PART III, LINE 1 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.
DESCRIPTION OF ORGANIZATION'S COLLECTIONSCHEDULE D, PART III, LINE 4 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.
INTENDED USES OF ENDOWMENT FUNDSSCHEDULE D, PART V, LINE 4 The School's endowment consists of approximately 650 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.
INCOME TAXESSCHEDULE D, PART X, LINE 2 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, 2020 AND 2019. SECTION 4968 OF THE 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 $321,000 and $1,117,000 OF TAX EXPENSE for the years ended june 30, 2020 and 2019, respectively, BASED ON REASONABLE ESTIMATES UNDER the REGULATORY GUIDANCE, APPROXIMATELY $350,000 OF WHICH IS ESTIMATED TO REPRESENT THE CURRENT PORTION OF THE TAX LIABILITY.
RECONCILIATION OF REVENUESCHEDULE D, PART XI LINE 2D CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS $ 28,756 CHANGE IN FAIR VALUE OF DERIVATIVE INSTRUMENTS $(22,866,254) ------------- TOTAL $(22,837,498) =============
LINE 4BFINANCIAL AID GRANTS $ 25,801,060 JUILLIARD STORE COST OF SALES $ (755,003) Accrued Estimated Excise TAX ON INVESTMENTs $ 170,471 ------------- TOTAL $ 25,216,528 =============
RECONCILIATION OF EXPENSESSCHEDULE D, PART XII LINE 4B FINANCIAL AID GRANTS $ 25,801,060 JUILLIARD STORE COST OF SALES $ (755,003) Accrued Estimated Excise TAX ON INVESTMENTs $ 170,471 ------------- TOTAL $ 25,216,528 =============

Schedule E IRS990ScheduleE

FieldValueIRS element (for citing)
Nondiscriminatory Policy StmtYes (true)NondiscriminatoryPolicyStmtInd
Policy Stmt In Brochures EtcYes (true)PolicyStmtInBrochuresEtcInd
Plcy Pblczd Via Broadcast MediaYes (true)PlcyPblczdViaBroadcastMediaInd
Maintain Racial Comp RecsYes (true)MaintainRacialCompRecsInd
Maintain Scholarships RecsYes (true)MaintainScholarshipsRecsInd
Maintain Cpy Of Brochures EtcYes (true)MaintainCpyOfBrochuresEtcInd
Maintain Cpy Of All SolYes (true)MaintainCpyOfAllSolInd
Discriminate Race Stdnts RghtsfalseDiscriminateRaceStdntsRghtsInd
Discriminate Race Admiss PlcyfalseDiscriminateRaceAdmissPlcyInd
Discriminate Race Emplm FcultyfalseDiscriminateRaceEmplmFcultyInd
Discriminate Race SchsfalseDiscriminateRaceSchsInd
Discriminate Race Educ PlcyfalseDiscriminateRaceEducPlcyInd
Discriminate Race Use Of FcltsfalseDiscriminateRaceUseOfFcltsInd
Discriminate Race Athlt ProgfalseDiscriminateRaceAthltProgInd
Discriminate Race Other ActyfalseDiscriminateRaceOtherActyInd
Government Financial Aid RcvdYes (true)GovernmentFinancialAidRcvdInd
Government Financial Aid RvkdfalseGovernmentFinancialAidRvkdInd
Compliance With Rev Proc7550Yes (true)ComplianceWithRevProc7550Ind

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
SCHEDULE E, PART I, LINE 3UNDER 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 6THE 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 2019-20, THE SCHOOL ALSO RECEIVED FUNDS FROM THE CARES ACT AND THE FEDERAL EMPLOYEE RETENTION CREDIT PROGRAM.

Schedule F IRS990ScheduleF

Account Activities Outside US AccountActivitiesOutsideUSGrp (7 entries)

RegionRegionTxtType Of Activities ConductedTypeOfActivitiesConductedTxtSpecific Services ProvidedSpecificServicesProvidedTxtRegion Total ExpendituresRegionTotalExpendituresAmt
Europe (Including Iceland and Greenland)Program ServicesMEETINGS/PERFORMANCES$356,495
North AmericaProgram ServicesMEETINGS/PERFORMANCES$3,454
East Asia and the PacificProgram ServicesMEETINGS/PERFORMANCES$810,794
Middle East and North AfricaProgram ServicesMEETINGS/PERFORMANCES$23,243
Central America and the CaribbeanInvestments$325,728,459
Europe (Including Iceland and Greenland)Investments$2,298,828
North AmericaInvestments$125,230
FieldValueIRS element (for citing)
Subtotal Spent$329,346,503SubtotalSpentAmt
Total Spent$329,346,503TotalSpentAmt
Transfer To Foreign CorpYes (true)TransferToForeignCorpInd
Interest In Foreign TrustfalseInterestInForeignTrustInd
Foreign Corp OwnershipYes (true)ForeignCorpOwnershipInd
Passive Foreign Investmest CoYes (true)PassiveForeignInvestmestCoInd
Foreign PartnershipYes (true)ForeignPartnershipInd
Boycott CountriesfalseBoycottCountriesInd

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART IVFormAndLineReferenceDesc
ExplanationTHE 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.ExplanationTxt

Schedule G IRS990ScheduleG

Fundraising Event Information FundraisingEventInformationGrp

FieldValueIRS element (for citing)
Event1Fall GalaEvent1Nm
Gross Receipts Event1$978,583GrossReceiptsEvent1Amt
Charitable Contri Event1$917,333CharitableContriEvent1Amt
Gross Revenue Event1$61,250GrossRevenueEvent1Amt
Rent Facility Costs Event1$84,320RentFacilityCostsEvent1Amt
Food And Beverage Event1$69,136FoodAndBeverageEvent1Amt
Entertainment Event1$84,630EntertainmentEvent1Amt
Other Direct Expenses Event1$45,943OtherDirectExpensesEvent1Amt
Other Events Total0OtherEventsTotalCnt
Gross Receipts Total$978,583GrossReceiptsTotalAmt
Charitable Contributions Tot$917,333CharitableContributionsTotAmt
Gross Revenue Total Events$61,250GrossRevenueTotalEventsAmt
Rent Fclty Costs Total Events$84,320RentFcltyCostsTotalEventsAmt
Food And Beverage Total Events$69,136FoodAndBeverageTotalEventsAmt
Entertainment Total Events$84,630EntertainmentTotalEventsAmt
Oth Direct Expnss Total Events$45,943OthDirectExpnssTotalEventsAmt
Direct Expense Summary Events$284,029DirectExpenseSummaryEventsAmt
Net Income Summary-$222,779NetIncomeSummaryAmt

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedYes (true)GrantRecordsMaintainedInd

Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp (6 entries)

Grant TypeGrantTypeTxtRecipientRecipientCntCash GrantCashGrantAmt
STUDENT SCHOLARSHIPS923$27,211,185
FEDERAL FINANCIAL GRANTS & ALLOCATIONS257$814,299
FELLOWSHIPS222$742,039
PRIZES & LIVING EXPENSE GRANTS57$186,311
CAREER AND OTHER GRANTS214$645,635
STUDENT AID176$145,660

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceSCHEDULE I, PART I, LINE 2FormAndLineReferenceDesc
ExplanationAS 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.ExplanationTxt

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
First Class Or Charter TravelYes (X)FirstClassOrCharterTravelInd
Travel For CompanionsYes (X)TravelForCompanionsInd
Written Policy Ref T And E ExpnssYes (true)WrittenPolicyRefTAndEExpnssInd
Substantiation RequiredYes (true)SubstantiationRequiredInd
Compensation CommitteeYes (X)CompensationCommitteeInd
Independent ConsultantYes (X)IndependentConsultantInd
Form990 Of Other OrganizationsYes (X)Form990OfOtherOrganizationsInd
Written Employment ContractYes (X)WrittenEmploymentContractInd
Compensation SurveyYes (X)CompensationSurveyInd
Board Or Committee ApprovalYes (X)BoardOrCommitteeApprovalInd
Severance PaymentfalseSeverancePaymentInd
Supplemental Nonqual Rtr PlanYes (true)SupplementalNonqualRtrPlanInd
Equity Based Comp ArrngmfalseEquityBasedCompArrngmInd
Comp Based On Revenue Of Flng OrgfalseCompBasedOnRevenueOfFlngOrgInd
Comp Bsd On Rev Related OrgsfalseCompBsdOnRevRelatedOrgsInd
Comp Bsd Net Earns Flng OrgfalseCompBsdNetEarnsFlngOrgInd
Comp Bsd Net Earns Rltd OrgsfalseCompBsdNetEarnsRltdOrgsInd
Any Non Fixed PaymentsYes (true)AnyNonFixedPaymentsInd
Initial Contract ExceptionfalseInitialContractExceptionInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (13 entries)

TitleTitleTxtBase Compensation Filing OrgBaseCompensationFilingOrgAmtCompensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmtBonus Filing OrganizationBonusFilingOrganizationAmountBonus Related OrganizationsBonusRelatedOrganizationsAmtOther Compensation Filing OrgOtherCompensationFilingOrgAmtOther Compensation Rltd OrgsOtherCompensationRltdOrgsAmtDeferred Compensation Flng OrgDeferredCompensationFlngOrgAmtDeferred Comp Rltd OrgsDeferredCompRltdOrgsAmtNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmtNontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmtTotal Compensation Filing OrgTotalCompensationFilingOrgAmtTotal Compensation Rltd OrgsTotalCompensationRltdOrgsAmtComp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmtComp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
Damian Woetzel
President$850,793$0$0$0$5,177$0$52,409$0$28,649$0$937,028$0$0$0
Joseph W Polisi
Chief China Officer$315,251$0$95,455$0$13,284$0$28,000$0$30,851$0$482,841$0$95,455$0
Ara Guzelimian
Provost & Dean$409,784$0$0$0$4,587$0$28,000$0$41,657$0$484,028$0$0$0
Lesley Rosenthal
Chief Operating Officer$497,254$0$0$0$1,467$0$0$0$39,276$0$537,997$0$0$0
Alexandra Wheeler
VP & Chief Advancement Officer$418,661$0$0$0$1,719$0$28,000$0$39,222$0$487,602$0$0$0
Maurice Edelson
VP Admin & Gen Counsel$429,002$0$0$0$2,067$0$28,000$0$41,670$0$500,739$0$0$0
Christine Todd
VP & CFO$333,841$0$0$0$1,240$0$28,000$0$18,395$0$381,476$0$0$0
Joan Warren
VP for Enroll & Student Dev$241,394$0$0$0$3,221$0$24,771$0$18,743$0$288,129$0$0$0
Carl Young
Chief Information Officer$317,059$0$0$0$4,013$0$28,000$0$15,783$0$364,855$0$0$0
Matti Raekallio
Faculty$300,769$0$0$0$4,158$0$22,464$0$28,159$0$355,550$0$0$0
Yoheved Kaplinsky
Artistic Director & Faculty$269,756$0$0$0$6,280$0$22,378$0$14,711$0$313,125$0$0$0
Evan D Yionoulis
Deputy General Counsel$269,257$0$0$0$1,501$0$27,338$0$5,893$0$303,989$0$0$0
Li Lin
Faculty$262,670$0$0$0$1,465$0$20,729$0$40,498$0$325,362$0$0$0

Supplemental Information Detail SupplementalInformationDetail (3 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
SCHEDULE J, PART I, LINE 1THE SCHOOL ON EXTREMELY INFREQUENT OCCASIONS 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.
SCHEDULE J, PART I, LINE 3AN 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. SCHEDULE J, PART I, LINE 4B THE PRESIDENT EARNED ACCRUED DEFERRED COMPENSATION OF $52,409 IN ACCORDANCE WITH HIS EMPLOYMENT AGREEMENT. THIS AMOUNT IS REPORTED ON SCHEDULE J, PART II, COLUMN C.
SCHEDULE J, PART I, LINE 7PRESIDENT EMERITUS AND CHIEF CHINA OFFICER JOSEPH POLISI WAS PAID DEFERRED COMPENSATION FOR AMOUNTS EARNED FROM 2015-2018.

Schedule K IRS990ScheduleK

Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp (3 entries)

Bond ReferenceBondReferenceCdBond Issuer EINBondIssuerEINBond IssuedBondIssuedDtIssue PriceIssuePriceAmtPurposePurposeDescDefeasedDefeasedIndOn Behalf Of IssuerOnBehalfOfIssuerIndPool FinancingPoolFinancingIndCUSIPCUSIPNum
Trust for Cultural Resources NYC SER 2015A&B
A9118824132015-06-25$70,000,000REFUNDING REV. BONDSfalsefalsefalse
Trust Cultural Resources NYC Ser 2017A&B
B9118824132017-07-26$77,145,000Refunding Rev. Bondsfalsefalsefalse
Trust Cultural Resources NYC Ser 2018A
C9118824132018-11-15$42,905,000Refunding Rev. Bondsfalsefalsefalse649717UF0

Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp (3 entries)

Bond ReferenceBondReferenceCdRetiredRetiredAmtBond DefeasedBondDefeasedAmtTotal ProceedsTotalProceedsAmtIn Reserve FundInReserveFundAmtCapitalized InterestCapitalizedInterestAmtRefunding EscrowRefundingEscrowAmtIssuance Costs From ProceedsIssuanceCostsFromProceedsAmtCredit EnhancementCreditEnhancementAmtWorking Capital ExpendituresWorkingCapitalExpendituresAmtCapital ExpendituresCapitalExpendituresAmtOther Spent ProceedsOtherSpentProceedsAmtUnspentUnspentAmtSubstantial CompletionSubstantialCompletionYrRefunding Tax Exempt BondsRefundingTaxExemptBondsIndRefunding Taxable BondsRefundingTaxableBondsIndFinal Allocation MadeFinalAllocationMadeIndAdequate Books And Rec MaintAdequateBooksAndRecMaintInd
A$0$0$70,000,000$0$0$70,000,000$0$0$0$0$0$02015Yes (true)falseYes (true)Yes (true)
B$0$0$77,145,000$0$0$77,145,000$0$0$0$0$0$02018Yes (true)falseYes (true)Yes (true)
C$0$0$48,389,236$0$0$47,850,000$528,923$0$0$0$0$02018Yes (true)falseYes (true)Yes (true)

Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp (3 entries)

Bond ReferenceBondReferenceCdOwning Bond Financed PropertyOwningBondFinancedPropertyIndAny Lease ArrangementsAnyLeaseArrangementsIndMgmt Contract Bond Fincd PropMgmtContractBondFincdPropIndEngage Bond Counsel ContractsEngageBondCounselContractsIndAny Research AgreementsAnyResearchAgreementsIndPrivate Bus Use By OthersPrivateBusUseByOthersPctPrivate Bus Concerning UBIPrivateBusConcerningUBIPctTotal Private Business UseTotalPrivateBusinessUsePctBond Iss Meet Prvt Sec Pymt TestBondIssMeetPrvtSecPymtTestIndChange In Use Bond Financed PropChangeInUseBondFinancedPropIndRemedial Action TakenRemedialActionTakenIndProcs Nonqualified Bond RemdtdProcsNonqualifiedBondRemdtdInd
AfalsefalseYes (true)Yes (true)false0.005000.007000.01200falsefalsefalseYes (true)
BfalsefalseYes (true)Yes (true)false0.005000.007000.01200falsefalsefalseYes (true)
CfalsefalseYes (true)Yes (true)false0.005000.007000.01200falsefalsefalseYes (true)

Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp (3 entries)

Bond ReferenceBondReferenceCdForm8038 T FiledForm8038TFiledIndRebate Not Due YetRebateNotDueYetIndException To RebateExceptionToRebateIndNo Rebate DueNoRebateDueIndVariable Rate IssueVariableRateIssueIndHedge Identified In Bks And RecHedgeIdentifiedInBksAndRecIndGross Proceeds Invested In GICGrossProceedsInvestedInGICIndBusiness Name Line1GICProviderName/BusinessNameLine1TxtGross Proceeds InvestedGrossProceedsInvestedIndWritten Proc To Monitor ReqsWrittenProcToMonitorReqsInd
0
AfalsefalsefalseYes (true)Yes (true)falsefalse0falsefalse
0
BfalsefalsefalseYes (true)Yes (true)falsefalse0falsefalse
0
CfalsefalsefalseYes (true)falsefalsefalse0falsefalse

Procedures Corrective Action ProceduresCorrectiveActionGrp (3 entries)

Bond ReferenceBondReferenceCdProcedures Corrective ActionProceduresCorrectiveActionInd
AYes (true)
BYes (true)
CYes (true)

Supplemental Information Detail SupplementalInformationDetail (5 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
SCHEDULE K, PART II, COL. C, LINE 3THE AMOUNT REPORTED ON COLUMN C, LINE 3 OF PART II IS GREATER THAN THE ISSUE PRICE IN PART I, LINE A DUE TO INVESTMENT EARNINGS ON THE PROCEEDS.
SCHEDULE K, PART IITHE SERIES 2018A BONDS WERE ISSUED THROUGH TAX-EXEMPT BONDS ISSUED BY THE TRUST FOR CULTURAL RESOURCES OF THE CITY OF NEW YORK ON NOVEMBER 15, 2018. AMOUNTS USED IN THE 2009A BOND REFUNDING IN THE AMOUNT OF $47,850,000 ARE INCLUDED ON PART II LINES 6 AND 7. THE SERIES 2017A AND SERIES 2017B BONDS WERE ISSUED ON JULY 26, 2017 AND DIRECTLY PLACED WITH TWO FINANCIAL INSTITUTIONS THROUGH BOND PURCHASE AND PLACEMENT AGREEMENTS ON THAT DATE. AMOUNTS USED IN THE 2009B BOND REFUNDING IN THE AMOUNT OF $77,145,000 ARE INCLUDED ON PART II LINE 6. THE SERIES 2015A AND SERIES 2015B BONDS WERE ISSUED ON JUNE 25, 2015 AND DIRECTLY PLACED WITH TWO FINANCIAL INSTITUTIONS THROUGH BOND PURCHASE AND PLACEMENT AGREEMENTS ON THAT DATE. AMOUNTS USED IN THE 2009C BOND REFUNDING IN THE AMOUNT OF $70,000,000 ARE INCLUDED ON PART II LINE 6.
SCHEDULE K, PART IV, LINE 2CAN ARBITRAGE REBATE CALCULATION FOR THE 2018A BONDS IS DUE IN FY24.
SCHEDULE K, PART IV, LINE 7JUILLIARD 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.
SCHEDULE K, PART VJUILLIARD ENGAGED A FIRM TO DO THE ARBITRAGE CALCULATION THAT IS NECESSARY TO DETERMINE WHETHER IT HAS MET THE PRIVATE SECURITY OR PAYMENT TEST. JUILLIARD DOES NOT MEET THE PRIVATE SECURITY OR PAYMENT TEST.

Schedule M IRS990ScheduleM

FieldValueIRS element (for citing)
Works Of ArtWorksOfArtGrp
Art Historical TreasuresArtHistoricalTreasuresGrp
Art Fractional InterestArtFractionalInterestGrp
Books And PublicationsBooksAndPublicationsGrp
Clothing And Household GoodsClothingAndHouseholdGoodsGrp
Cars And Other VehiclesCarsAndOtherVehiclesGrp
Boats And PlanesBoatsAndPlanesGrp
Intellectual PropertyIntellectualPropertyGrp

Securities Publicly Traded SecuritiesPubliclyTradedGrp

FieldValueIRS element (for citing)
Non Cash CheckboxYes (X)NonCashCheckboxInd
Contribution62ContributionCnt
Noncash Contributions Rpt F990$2,576,161NoncashContributionsRptF990Amt
Method Of Determining Revenuesmean trading priceMethodOfDeterminingRevenuesTxt
FieldValueIRS element (for citing)
Securities Closely Held StockSecuritiesCloselyHeldStockGrp
Secur Prtnrshp Trust IntrstsSecurPrtnrshpTrustIntrstsGrp
Securities MiscellaneousSecuritiesMiscellaneousGrp
Qualified Contrib Hist StructQualifiedContribHistStructGrp
Qualified Contrib OtherQualifiedContribOtherGrp
Real Estate ResidentialRealEstateResidentialGrp
Real Estate CommercialRealEstateCommercialGrp
Real Estate OtherRealEstateOtherGrp
CollectiblesCollectiblesGrp
Food InventoryFoodInventoryGrp
Drugs And Medical SuppliesDrugsAndMedicalSuppliesGrp
TaxidermyTaxidermyGrp
Historical ArtifactsHistoricalArtifactsGrp
Scientific SpecimensScientificSpecimensGrp
Archaeological ArtifactsArchaeologicalArtifactsGrp

Other Non Cash Contri Table OtherNonCashContriTableGrp

FieldValueIRS element (for citing)
Non Cash CheckboxYes (X)NonCashCheckboxInd
DescMusical instruments & materialsDesc
Contribution5ContributionCnt
Noncash Contributions Rpt F990$61,444NoncashContributionsRptF990Amt
Method Of Determining Revenuesexpert opinionMethodOfDeterminingRevenuesTxt
FieldValueIRS element (for citing)
Form8283 Received10Form8283ReceivedCnt
Any Property That Must Be HeldfalseAnyPropertyThatMustBeHeldInd
Review Process Unusual NC GiftsYes (true)ReviewProcessUnusualNCGiftsInd
Third Parties UsedfalseThirdPartiesUsedInd

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (6 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
GENERAL EXPLANATORY STATEMENT REGARDING THE COVID-19 IMPACT ONTHE ORGANIZATION THE OUTBREAK OF COVID-19 HAS CAUSED DOMESTIC AND GLOBAL DISRUPTION IN OPERATIONS FOR INSTITUTIONS OF HIGHER EDUCATION. WHILE THE FUTURE IMPACTS OF COVID-19 CANNOT BE QUANTIFIED AT THIS TIME, IT HAS NEGATIVELY IMPACTED THE FINANCIAL MARKETS AND MAY CONTINUE TO MATERIALLY AFFECT THE RETURN ON AND VALUE OF THE SCHOOL'S INVESTMENTS. OTHER ADVERSE CONSEQUENCES OF COVID-19 MAY BE A NEGATIVE EFFECT ON THE SCHOOL'S REVENUE STREAMS. BUSINESS RELATIONSHIPS FORM 990, PART VI, LINE 2 BRUCE KOVNER, CHAIR & GREG MARGOLIES, TRUSTEE - BUSINESS RELATIONSHIP J. CHRISTOPHER KOJIMA, VICE CHAIR & KENT CLARK, TRUSTEE BUSINESS RELATIONSHIP
FORM 990 REVIEW PROCESSFORM 990, PART VI, SECTION B, LINE 11B 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.
CONFLICT OF INTEREST POLICY MONITORING & ENFORCEMENTFORM 990, PART VI, SECTION B, LINE 12C EACH YEAR, ALL TRUSTEES, OFFICERS, AND MEMBERS OF SENIOR MANAGEMENT COMPLETE CONFLICT OF INTEREST DECLARATIONS. THE DECLARATIONS ARE SUBMITTED TO THE ASSISTANT GENERAL COUNSEL 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.
PROCESS FOR DETERMINING COMPENSATIONFORM 990, PART VI, SECTION B, LINES 15A & 15B 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 CONTRACTS 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 LAST REVIEWED for fiscal year 2019-20: PRESIDENT, PROVOST/DEAN, VP FOR DEVELOPMENT, VP FOR PUBLIC AFFAIRS, VP/GENERAL COUNSEL, VP AND CFO, VP FOR ENROLLMENT MANAGEMENT/STUDENT DEVELOPMENT, AND Chief Operating Officer.
PUBLIC DISCLOSURE OF DOCUMENTSFORM 990, PART VI, SECTION C, LINE 19 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.
RECONCILIATION OF NET ASSETSFORM 990, PART XI, LINE 9 CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS $ 28,756 CHANGE IN FAIR VALUE OF DERIVATIVE INSTRUMENTS $(22,866,254) ------------- TOTAL $(22,837,498) =============

Schedule R IRS990ScheduleR

Id Disregarded Entities IdDisregardedEntitiesGrp

Disregarded Entity Name DisregardedEntityName

FieldValueIRS element (for citing)
Business Name Line1SCHERZO LLCBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line160 LINCOLN CENTER PLAZAAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10023ZIPCd
FieldValueIRS element (for citing)
EIN811344522EIN
Primary ActivitiesSUPPORTPrimaryActivitiesTxt
Legal Domicile StateNYLegalDomicileStateCd
Total Income$0TotalIncomeAmt
End Of Year Assets$0EndOfYearAssetsAmt

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1JUILLIARDBusinessNameLine1Txt

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp

Disregarded Entity Name DisregardedEntityName

FieldValueIRS element (for citing)
Business Name Line1INSTITUTE OF MUSICAL ARTBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line160 LINCOLN CENTER PLAZAAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10023ZIPCd
FieldValueIRS element (for citing)
EIN136162648EIN
Primary ActivitiesSUPPORTPrimaryActivitiesTxt
Legal Domicile StateNYLegalDomicileStateCd
Exempt Code Section501(C)(3)ExemptCodeSectionTxt
Public Charity Status12APublicCharityStatusTxt

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1JUILLIARDBusinessNameLine1Txt
FieldValueIRS element (for citing)
Controlled OrganizationYes (true)ControlledOrganizationInd

Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp

Related Organization Name RelatedOrganizationName

FieldValueIRS element (for citing)
Business Name Line1ALLERGO (TIANJIN) EDUCATION CONSULTINGBusinessNameLine1Txt

Foreign Address ForeignAddress

FieldValueIRS element (for citing)
Address Line1BAO YUAN BLDG 9TH FL SECTION C 8AddressLine1Txt
CityTIANJIN FREE TRADE EXCityNm
CountryCHCountryCd
FieldValueIRS element (for citing)
Primary ActivitiesMGMT COMPANYPrimaryActivitiesTxt
Legal Domicile Foreign CountryCHLegalDomicileForeignCountryCd

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1SCHERZO LLCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Entity TypeC CorpEntityTypeTxt
Share Of Total Income$0ShareOfTotalIncomeAmt
Share Of EOY Assets$0ShareOfEOYAssetsAmt
Ownership1.00000OwnershipPct
Controlled OrganizationYes (true)ControlledOrganizationInd
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts RyltsYes (true)ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth OrgfalseGiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth OrgfalseGiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other OrgfalseLoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth OrgfalseLoansOrGuaranteesFromOthOrgInd
Div Related OrganizationfalseDivRelatedOrganizationInd
Asset Sale To Other OrgfalseAssetSaleToOtherOrgInd
Asset Purchase From Other OrgfalseAssetPurchaseFromOtherOrgInd
Asset ExchangefalseAssetExchangeInd
Rental Of Facilities To Oth OrgfalseRentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth OrgfalseRentalOfFcltsFromOthOrgInd
Perform Of Services For Oth OrgYes (true)PerformOfServicesForOthOrgInd
Perform Of Services By Other OrgfalsePerformOfServicesByOtherOrgInd
Sharing Of FacilitiesfalseSharingOfFacilitiesInd
Paid Employees SharingYes (true)PaidEmployeesSharingInd
Reimbursement Paid To Other OrgfalseReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other OrgfalseReimbursementPaidByOtherOrgInd
Transfer To Other OrgfalseTransferToOtherOrgInd
Transfer From Other OrgYes (true)TransferFromOtherOrgInd

Transactions Related Org TransactionsRelatedOrgGrp

Other Organization Name OtherOrganizationName

FieldValueIRS element (for citing)
Business Name Line1Institute of Musical ArtBusinessNameLine1Txt
FieldValueIRS element (for citing)
Transaction TypeaTransactionTypeTxt
Involved$425,118InvolvedAmt
Method Of Amount DeterminationFMVMethodOfAmountDeterminationTxt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceSCHEDULE R, PART VFormAndLineReferenceDesc
ExplanationUNDER 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, 2020 WERE $10,513,947. THE IMA'S NET INVESTMENT RETURN WAS $425,118 FOR THE YEAR ENDED JUNE 30, 2020.ExplanationTxt