2020-04-11T19:27:01-05:00 2019-06-30 Grant Thornton LLP 515 S Flower Street 7th Floor LOS ANGELES CA 90071 990 2018-07-01 952501387 The Colburn School % KAREN S LOVETT COLB 2136212200 200 South Grand Avenue Los Angeles CA 90012 SETH WEINTRAUB CFO/CAO/TREASURER 2136212200 2020-04-01 true QI WEN LIANG P01270238 2136271717 2020-03-31 199.247.107.123 95361120201025000001 2020-04-11 P 85285106D67D06EDFF820F5FFC2BA856D01BFB4B 85285106D67D06EDFF820F5FFC2BA856D01BFB4B 2018 2021-01-29 14:40:06Z Sel Kardan 200 South Grand Avenue Los Angeles CA 90012 113963688 false X www.colburnschool.edu X 1951 CA THE COLBURN SCHOOL IS A PERFORMING ARTS SCHOOL WITH ACCLAIMED FACULTY THAT PROVIDES STUDENTS WITH THE HIGHEST QUALITY PERFORMING ARTS EDUCATION. 23 23 419 78 -966532 -1021071 15750875 18863932 14237882 14618255 16058287 5570022 3949009 2863494 49996053 41915703 8596894 8766781 0 0 18961008 19904577 56576 0 1581221 24177493 22677107 51791971 51348465 -1795918 -9432762 350839845 350455307 147546269 155503219 203293576 194952088 X THE COLBURN SCHOOL PROVIDES WORLD CLASS PERFORMING ARTS EDUCATION IN LOS ANGELES. EXTRACURRICULAR EDUCATION IS PROVIDED TO MORE THAN 1,900 DIVERSE STUDENTS THROUGH THE SCHOOL OF PERFORMING ARTS, THE MUSIC ACADEMY AND THE DANCE ACADEMY. THE CONSERVATORY PROVIDES DEGREED MUSIC EDUCATION TO GIFTED STUDENTS. false false 45579094 8766781 14618255 THE COLBURN SCHOOL ("THE SCHOOL") IS A CALIFORNIA NOT-FOR-PROFIT CORPORATION LOCATED IN THE HEART OF DOWNTOWN LOS ANGELES, CALIFORNIA. THE MISSION OF THE SCHOOL IS TO OFFER THE HIGHEST QUALITY PERFORMING ARTS EDUCATION BY AN OUTSTANDING FACULTY IN AN OPTIMAL LEARNING ENVIRONMENT. THE SCHOOL WAS FOUNDED IN 1950 AS A PREPARATORY PROGRAM FOR THE UNIVERSITY OF SOUTHERN CALIFORNIA UNTIL 1980 WHEN IT BECAME AN INDEPENDENT COMMUNITY SCHOOL OF THE PERFORMING ARTS AND WAS ACCREDITED AS A NON-DEGREE-GRANTING INSTITUTION BY THE NATIONAL ASSOCIATION OF SCHOOLS OF MUSIC (NASM). CURRENTLY, THIS PROGRAM IS KNOWN AS THE COLBURN SCHOOL OF PERFORMING ARTS ("CSPA") AND OFFERS PROGRAMS IN MUSIC, DANCE, DRAMA, AND VOICE TO APPROXIMATELY 1,900 STUDENTS OF ALL AGES (TODDLER TO ADULT) AND ABILITIES (NOVICE THROUGH ADVANCED). THE SCHOOL ALSO OPERATES COMMUNITY OUTREACH PROGRAMS WHICH BRING PERFORMING ARTS TO UNDERSERVED CHILDREN IN INNER-CITY SCHOOLS. THE CONSERVATORY OF MUSIC, ESTABLISHED IN 2003, OFFERS UNDERGRADUATE, GRADUATE AND PROFESSIONAL-DEGREE PROGRAMS SPECIALIZING IN CLASSICAL MUSICAL PERFORMANCE. CONSERVATORY OF MUSIC PROGRAMS RANGE FROM TWO TO FOUR YEARS AND RESULT IN ONE OF THE FOLLOWING: A BACHELOR OF MUSIC DEGREE, AN ARTISTS DIPLOMA OR A PROFESSIONAL STUDIES CERTIFICATE. ADMISSION TO THE CONSERVATORY OF MUSIC IS HIGHLY SELECTIVE, AND THE CONSERVATORY PROVIDES FINANCIAL AID TO STUDENTS, COVERING FULL TUITION AND ROOM AND BOARD. THE CONSERVATORY HAD 120 ENROLLED STUDENTS DURING THE YEAR ENDED JUNE 30, 2019. THE CONSERVATORY IS ACCREDITED BY THE NATIONAL ASSOCIATION OF SCHOOLS OF MUSIC (NASM) AS A DEGREE-GRANTING SCHOOL. THE MUSIC ACADEMY, ESTABLISHED IN 2010, IS A NON-DEGREE PROGRAM DESIGNED TO PROVIDE A COMPREHENSIVE CURRICULUM OF CLASSES TO PRE-COLLEGE HIGHLY GIFTED STUDENTS FOCUSED ON CAREERS IN MUSIC. THE MUSIC ACADEMY HAD 32 STUDENTS ENROLLED DURING THE YEAR ENDED JUNE 30, 2019. THE DANCE ACADEMY, ESTABLISHED IN 2014, IS A PRE-PROFESSIONAL TRAINING PROGRAM FOR A SELECT GROUP OF STUDENTS AGE 14-19 PURSUING THEIR GOAL OF BECOMING PROFESSIONAL DANCERS AND ARTISTIC LEADERS. THE DANCE ACADEMY HAD 18 STUDENTS ENROLLED DURING THE YEAR ENDED JUNE 30, 2019. STUDENTS IN BOTH ACADEMIES ARE ADMITTED BY AUDITION AND ANY TUITION SCHOLARSHIPS AWARDED ARE FUNDED BY THIRD-PARTY GRANTORS. 45579094 true true false false false false false false false true true true false false true true false true true false true false false true true false false false true true true false false false false false false false false false false true false false false true true true true false false true 141 0 true 419 true true true false false false false true true false false false false false false X 23 23 true false false false false false false true true false false true true true true true true true true false CA X KAREN S LOVETT 2136211046 200 SOUTH GRAND AVENUE Los Angeles CA 90012 Carol Colburn Grigor Life Chairman Emeritus 1.0 2.0 X X 0 0 0 Andrew Millstein Chairman 1.0 0.0 X X 0 0 0 Daniel L Avchen Board Member 1.0 0.0 X 0 0 0 David D Colburn Vice Chairman 1.0 0.0 X X 0 0 0 Richard W Colburn Board Member 1.0 2.0 X 0 0 0 Alice Coulombe Board Member 1.0 0.0 X 0 0 0 Warner W Henry Board Member 1.0 0.0 X 0 0 0 Catherine Colburn Hogel Board Member 1.0 0.0 X 0 0 0 Beverly Marksbury Board Member 1.0 0.0 X 0 0 0 Aliza Lesser Board Member 1.0 0.0 X 0 0 0 Robert Lewis Board Member 1.0 0.0 X 0 0 0 Steven F Matt Board Member Thru 05/2019 1.0 0.0 X 0 0 0 Diane Naegele Board Member 1.0 0.0 X 0 0 0 Elizabeth Redleaf Board Member 1.0 0.0 X 0 0 0 Ann Ronus Board Member 1.0 0.0 X 0 0 0 Marc L Sandman Board Member 1.0 0.0 X 0 0 0 Keith Terasaki Board Member 1.0 0.0 X 0 0 0 Jim Ward Board Member Thru 12/2018 1.0 0.0 X 0 0 0 Peter W Wardle Board Member 1.0 0.0 X 0 0 0 Harry B Suh Board Member 1.0 0.0 X 0 0 0 Nathan Frankel Board Member 1.0 0.0 X 0 0 0 Greg Guyett Board Member 1.0 0.0 X 0 0 0 Molly Kirk Board Member 1.0 0.0 X 0 0 0 Monica kohler Board Member 1.0 0.0 X 0 0 0 Mahnaz Newman Board Member 1.0 0.0 X 0 0 0 Sel Kardan PRESIDENT & CEO 40.0 0.0 X 482072 0 107730 Seth Weintraub CFO/CAO/TREASURER 40.0 0.0 X 269822 0 18350 Linda Cormier VP HR/BOD SECRETARY 40.0 0.0 X 176707 0 15297 Edward Horner SENIOR VP Thru 07/01/2018 40.0 0.0 X 269662 0 42553 Adrian Daly PROVOST 40.0 0.0 X 248263 0 40159 Robert Lipsett PROFESSOR 40.0 0.0 X 381889 0 27433 Fabio Bidini PROFESSOR 40.0 0.0 X 339579 0 32103 Clive Greensmith PROFESSOR 40.0 0.0 X 248936 0 35272 Yehuda Gilad PROFESSOR 40.0 0.0 X 228839 0 20047 Richard Beene Professor 40.0 0.0 X 235242 0 19328 2881011 0 358272 34 false true false Gehry Partners LLP 12541 Beatrice Street LOS ANGELES CA 90066 Architecture 2007712 JBen Bourgeois Productions 512 North Larchmont Blvd LOS ANGELES CA 90004 event coordinator 976508 Universal Protection Services 639 Wilshire Blvd LOS ANGELES CA 90017 Security 817566 Peerless Building Maintenance 21020 Superior St CHATSWORTH CA 91311 Janitorial 616455 Cambridge Associates 2730 Sand Hill Road MENLO PARK CA 94025 Investment Mgt 552711 16 1768768 7489982 9605182 352690 18863932 TUITION INCOME 611600 14618255 14618255 0 0 14618255 3917124 -966532 4883656 0 0 739583 216800 522783 0 522783 522783 72689273 71036375 1652898 1652898 1652898 157500 1768768 794810 -637310 -637310 0 0 0 0 0 0 CAFE REVENUE 722210 2028273 0 0 2028273 WFBI, LLC PARKING INCOME 900099 623095 0 0 623095 DEPARTMENTAL INCOME 900099 149176 0 0 149176 177477 0 0 177477 2978021 41915703 14618255 -966532 9400048 X 0 8766781 8766781 0 0 1642927 303507 1011066 328354 0 14574311 13174055 668011 732245 689255 609441 34620 45194 1846333 1613700 158067 74566 1151751 990850 82382 78519 102843 100787 1028 1028 56113 55623 245 245 145006 6124 138819 63 0 0 1708190 1708190 2610210 2558611 20512 31087 82537 80481 1201 855 508168 442422 30836 34910 478902 322256 97020 59626 0 1788197 1752871 17865 17461 480465 423741 51266 5458 0 27453 25363 1937 153 4767061 4671720 47670 47671 0 5440789 5331973 54408 54408 346403 339489 3457 3457 MEALS & ENTERTAINMENT 2678277 2579460 44243 54574 STUDENT HEALTH 997526 997526 0 0 INSTRUMENTS 195646 195646 0 0 EQUIPMENT & FURNITURE 70918 67639 3174 106 192403 169028 12134 11241 51348465 45579094 4188151 1581221 0 0 284282 4278758 17814293 17298988 2700000 0 0 0 0 0 0 0 0 0 678534 430508 208893162 62172791 140269317 146720371 50235268 34127754 138087574 146697113 0 0 0 0 770577 901815 350839845 350455307 2967318 5715458 0 0 197280 794086 130985000 130985000 0 0 0 0 0 0 0 0 13396671 18008675 147546269 155503219 X 113093389 104578466 29868897 28978514 60331290 61395108 203293576 194952088 350839845 350455307 X -9432762 5703278 -4612004 X X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 167929919 4873002 8245613 926187 20573813 159548534 155302671 2688294 14756954 948965 3869035 167929919 145607777 2692752 17302142 776872 9523128 155302671 195183027 1331492 -8107826 550054 42248862 145607777 206073572 2434094 -6724639 213541 6386459 195183027 0.50230 0.38480 0.11290 false true true 33043795 1776839 34820634 148192309 46061886 102130423 4909933 2103248 2806685 19091493 12350063 6741430 1878793 1657594 221199 146720371 ALTERNATIVE INVESTMENTS 146291680 F INVESTMENTS RESTRICTED FOR INT 291456 F OTHER INVESTMENT 113977 F 146697113 0 INTEREST RATE SWAP AGREEMENT 18008675 18008675 X 27258725 5703278 -18652066 -12948788 40207513 1708190 1708190 41915703 38288209 38288209 1708190 11352066 13060256 51348465 USE OF ENDOWMENT FUNDS SCHEDULE D, PART V, LINE 4 THE SCHOOLS ENDOWMENT IS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING SCHOLARSHIP SUPPORT, DEPARTMENT CHAIR ENDOWMENTS, AND PROGRAMMATIC ENDEAVORS. FIN 48 (ASC40) FOOTNOTE SCHEDULE D, PART X, LINE 2: THE SCHOOL FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THE POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE SCHOOL IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE SCHOOL HAS ALSO BEEN RECOGNIZED BY THE CALIFORNIA FRANCHISE TAX BOARD AS EXEMPT FROM CALIFORNIA FRANCHISE AND INCOME TAXES UNDER SECTION 23701(D) OF THE CALIFORNIA REVENUE AND TAXATION CODE. THE SCHOOL HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED INCOME; TO DETERMINE ITS FILINGS AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. THE SCHOOL HAD DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. RECONCILIATION OF REVENUE TO AUDITED FINANCIAL STATEMENTS SCHEDULE D, PART XI, LINE 2D CAFE EXPENSES $ (2,585,285) DISTRIBUTION FROM COLBURN MUSIC FUND $ (7,300,000) SCHOLARSHIPS $ (8,766,781) -------------- TOTAL $(18,652,066) RECONCILIATION OF EXPENSES PER AUDITED FINANCIAL STATEMENTS SCHEDULE D, PART XII, LINE 4B CAFE EXPENSES $ 2,585,285 SCHOLARSHIPS $ 8,766,781 ------------- TOTAL $11,352,066 true true true true true true true false false false false false false false false false false true RACIALLY NONDISCRIMINATORY POLICY SCHEDULE E, PART I, LINE 3 THE SCHOOL ANNUALLY RUNS AN ADVERTISEMENT IN THE DAILY NEWS AND POSTS OUR NONDISCRIMINATORY POLICY ON OUR OWN WEBSITE AND IN OUR PROMOTIONAL MATERIALS. Central America and the Caribbean Investments 29705640 North America Investments 5322 29710962 29710962 true false true true true false SCHEDULE F, PART IV THE SCHOOL INVESTS DIRECTLY IN VARIOUS ALTERNATIVE INVESTMENTS THAT MAY BE ORGANIZED AS EITHER FOREIGN CORPORATIONS OR PARTNERSHIPS. IN ADDITION, THE SCHOOL INVESTS IN DOMESTIC LIMITED PARTNERSHIPS THAT MAY, IN TURN INVEST IN FOREIGN CORPORATIONS OR PARTNERSHIPS. NEVERTHELESS, THE INVESTMENT ACTIVITIES MAY NOT REACH THE THRESHOLDS REQUIRED FOR THE FILING OF FORMS 926, 5471, 8621, OR 8865. TO THE EXTENT THAT THE SCHOOL IS REQUIRED TO COMPLETE ONE (OR MORE) OF THESE FOREIGN FORMS, IT IS FILED WITH THE SCHOOLS FORM 990-T. CA Annual Gala 1926268 1768768 157500 146756 648054 0 1926268 1768768 157500 146756 648054 794810 -637310 true Conservatory Scholarship 120 7776271 0 CSPA Scholarship 348 625221 0 Academy Scholarship 30 289277 0 Community Engagement 134 76012 0 PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS IN THE U.S. SCHEDULE I, PART I, LINE 2 FINANCIAL AID/GRANTS ARE AWARDED BASED ON NEED (AS EVIDENCED BY APPLICATION AND SUPPORTING DOCUMENTS), AND PROVIDED BASED ON SUPPORTED (RECEIPTS) EXPENSES FOR APPROVED TRAVEL, BOOKS AND HEALTH INSURANCE. STIPENDS FOR MEALS ARE SET BY ALLOWANCE. X X true true X X X X X false true false false false false false false false Sel Kardan PRESIDENT & CEO 449210 0 0 0 32862 0 67608 0 41837 0 591517 0 0 0 Seth Weintraub CFO/CAO/TREASURER 253807 0 12887 0 3128 0 17779 0 2217 0 289818 0 0 0 Linda Cormier VP HR/BOD SECRETARY 164932 0 8575 0 3200 0 11831 0 4545 0 193083 0 0 0 Edward Horner SENIOR VP Thru 07/01/2018 262804 0 0 0 6858 0 18952 0 25377 0 313991 0 0 0 Adrian Daly PROVOST 247021 0 0 0 1242 0 18461 0 23447 0 290171 0 0 0 Robert Lipsett PROFESSOR 375594 0 0 0 6295 0 19006 0 9789 0 410684 0 0 0 Fabio Bidini PROFESSOR 338337 0 0 0 1242 0 23676 0 10202 0 373457 0 0 0 Clive Greensmith PROFESSOR 248080 0 0 0 856 0 17705 0 18969 0 285610 0 0 0 Yehuda Gilad PROFESSOR 224189 0 0 0 4650 0 15931 0 5485 0 250255 0 0 0 Richard Beene Professor 231920 0 0 0 3322 0 10669 0 10119 0 256030 0 0 0 Health or Social Club Dues or Initiation Fees SCHEDULE J, PART I, LINE 1A: THE SOCIAL CLUB DUES FOR THE COLBURN SCHOOL ARE RELATED TO THE CALIFORNIA CLUB. THIS LOCATION IS WHERE BOARD RETREATS AND DONOR MEETINGS ARE HELD THROUGHOUT THE YEAR. THESE DUES ARE ONLY PROVIDED TO THE PRESIDENT/CEO AND ARE REPORTED ON THE FORM W-2 AS TAXABLE COMPENSATION. Tax Indemnification and Gross-Up Payments Schedule J, Part I, Line 1A: The organization provided the President and CEO a Gross-up payment for social club dues, which is also reported in other reportable compensation in Schedule J, Part II, Column B (III). SEVERANCE ARRANGEMENTS SCHEDULE J, PART I, LINE 4A: THE PRESIDENT & CEO HAS A SEVERANCE PROVISION AS PART OF HIS EMPLOYMENT CONTRACT. EXCEPT IN SITUATIONS WHERE THE EMPLOYMENT OF THE PRESIDENT & CEO IS TERMINATED FOR CAUSE, BY DEATH OR BY DISABILITY, IN THE EVENT THAT THE SCHOOL TERMINATES HIS EMPLOYMENT AT ANY TIME, THE PRESIDENT & CEO WILL BE ELIGIBLE TO RECEIVE AN AMOUNT EQUAL TO TWELVE MONTHS OF THE THEN-CURRENT BASE SALARY IN THE FORM OF SALARY CONTINUATION, AND CONTINUATION OF BENEFITS FOR TWELVE MONTHS. SUCH SEVERANCE SHALL BE REDUCED BY ANY REMUNERATION PAID TO OR BENEFITS PROVIDED TO THE PRESIDENT & CEO BECAUSE OF HIS/HER EMPLOYMENT OR SELF-EMPLOYMENT DURING THE SEVERANCE PERIOD. Nonqualifed Retirement Plan SCHEDULE J, PART I, LINE 4B: THE PRESIDENT & CEO PARTICIPATES IN A SEC 457(F) RETIREMENT PLAN. THE SCHOOL HAS CONTRIBUTED $50,000 TO THE PLAN FOR CALENDAR YEAR 2018. . A CIEDB SERIES 2015A 630304653 13034AFN5 2015-05-01 66060000 REFUNDING OF SERIES 2008 BONDS false false false B CIEDB Series 2015B 630304653 13034AFP0 2015-05-01 64925000 REFUNDING OF SERIES 2011 BONDS false false false A 0 0 66060000 0 0 0 488124 0 0 0 65571876 0 2015 true false true true B 0 0 64925000 0 0 0 479738 0 0 0 64445265 0 2015 true false true true A false true true true false 0.01700 0.01700 false false false true B false true true true false 0.01800 0.01800 false false false true A false false true false true false 0 false 0 false true B false false true false true false 0 false 0 false true A true B true . THE 2015 SERIES A AND B BONDS (ISSUED ON MAY 27, 2015) WERE USED TO REDEEM BOTH THE SERIES 2008 BONDS (ISSUED ON DECEMBER 9, 2008) AS WELL AS THE SERIES 2011 BONDS (WHICH WERE ORIGINALLY ISSUED TO REDEEM SERIES 2006 BONDS ISSUED ON NOVEMBER 30, 2006). SCHEDULE K, PART III, LINE 7 AS PROVIDED IN TREASURY REGULATION SECTION 1.141-4(C)(2)(I)(B), THE AMOUNT OF PRIVATE PAYMENTS TAKEN INTO ACCOUNT UNDER THE PRIVATE PAYMENT TEST MAY NOT EXCEED THE AMOUNT OF PRIVATE BUSINESS USES AND/OR UNRELATED TRADE OR BUSINESS USE. ACCORDINGLY, THE AMOUNT OF PRIVATE PAYMENTS FOR THE REPORTING PERIOD DOES NOT EXCEED THE AMOUNT STATED IN PART III, LINE 6. THE ORGANIZATION HAS NOT UNDERTAKEN AN ANALYSIS OF THE PRIVATE SECURITY TEST WITH RESPECT TO THE BONDS, AS THE LEVEL OF PRIVATE BUSINESS USE AND/OR UNRELATED TRADE OR BUSINESS REPORTED IN PART III, LINE 6 IS NOT IN EXCESS OF AMOUNTS PERMITTED UNDER SECTION 145 OF THE CODE. X 11 352690 FMV 0 false true false SCHEDULE M, PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED IN COLUMN (B). RELATIONSHIP AMONG BOARD MEMBERS, OFFICER, AND KEY EMPLOYEES FORM 990, PART VI, SECTION A, LINE 2 THE FOLLOWING BOARD MEMBERS SHARE A FAMILY RELATIONSHIP: CATHERINE COLBURN HOGEL CAROL COLBURN GRIGOR RICHARD W. COLBURN DAVID D. COLBURN FORM 990 REVIEW PROCESS FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS COMPLETED ANNUALLY AND REVIEWED BY THE CFO/CAO WITH THE PRESIDENT & CEO AND THE AUDIT COMMITTEE. ONCE THE CFO/CAO, PRESIDENT & CEO, AND AUDIT COMMITTEE ARE IN AGREEMENT ON THE FINAL 990, COPIES ARE PROVIDED TO THE ENTIRE GOVERNING BOARD PRIOR TO IT BEING FILED. THE AUDIT COMMITTEE REVIEWS THE 990 WITH THE GOVERNING BOARD. ONCE THE 990 IS CONSIDERED FINAL, THE CFO/CAO WILL SIGN THE RETURN, OR THE AUTHORIZATION FORM FOR ELECTRONIC FILING, AND SUBMIT BY THE FILING DEADLINE. WRITTEN CONFLICT OF INTEREST POLICY FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO DISCLOSE CONFLICTS ON THE CONFLICTS OF INTEREST QUESTIONNAIRE. IF CONFLICTS ARE DISCLOSED OR OTHERWISE BROUGHT TO THEIR ATTENTION, THE BOARD WILL REVIEW THE POTENTIAL CONFLICT. IT MAY DETERMINE THAT A CONFLICT EXISTS, BUT POSES NO RISK OF HARM TO THE SCHOOL OR THAT SOME REMEDIAL ACTION OR INTERVENTION IS NECESSARY. THE BOARD DOCUMENTS DISCUSSION OF THE POTENTIAL CONFLICT AND ITS RESOLUTION. THE SCHOOL ALSO REQUIRES PERIODIC REVIEW OF TRANSACTIONS AND RELATIONSHIPS TO ENSURE THAT THERE ARE NO CONFLICTS OF INTEREST. DETERMINATION OF COMPENSATION FORM 990, PART VI, SECTION B, LINE 15A AND 15B THE PROCESS FOR REVIEWING AND APPROVING COMPENSATION INCLUDES REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS AND/OR COMPENSATION COMMITTEE OF THE BOARD, PROVIDED THAT PERSONS WITH CONFLICTS OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT AT ISSUE ARE NOT INVOLVED IN THE REVIEW AND APPROVAL. COMPARABLE COMPENSATION DATA (INCLUDING FORM 990S OF OTHER ORGANIZATIONS AND COMPENSATION SURVEYS) FOR SIMILARLY QUALIFIED INDIVIDUALS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS IS USED; INDEPENDENT COMPENSATION CONSULTANTS ARE USED; AND CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING WITH RESPECT TO THE DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENT IS MAINTAINED. DISCLOSURE OF ORGANIZATIONAL DOCUMENTS TO THE PUBLIC FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY OF THE SCHOOL, SUBJECT TO THE FEDERAL OR CALIFORNIA STATE PUBLIC DISCLOSURE RULES, ARE MADE PUBLICLY AVAILABLE AS THE APPLICABLE LAW MAY REQUIRE. OTHERWISE, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE PROVIDED TO THE PUBLIC AT THE DISCRETION OF MANAGEMENT. THE FINANCIAL STATEMENTS AND FORM 990 OF THE SCHOOL ARE PUBLICLY AVAILABLE AS REQUIRED BY FEDERAL AND STATE PUBLIC DISCLOSURE RULES. THE SCHOOL'S WEBSITE CONTAINS A STATEMENT TO THIS EFFECT AND INVITES THE PUBLIC TO CONTACT THE SCHOOL IF THEY WISH TO HAVE THIS INFORMATION. UPON RECEIPT OF AN EMAIL, REGULAR MAIL OR TELEPHONE INQUIRY, THE SCHOOL SENDS THE REQUESTED INFORMATION AS REQUIRED. RECONCILIATION OF NET ASSETS FORM 990, PART XI, LINE 9 UNREALIZED LOSS ON INTEREST RATE SWAP RELATED TO BONDS: -$4,612,004 WFBI LLC 200 S Grand Avenue Los Angeles CA 90012 812750603 Real Property DE 1060000 36056756 COLB SCHOOL Colburn Music Fund 6311 ROMAINE St SUITE 7138 Los Angeles CA 90038 954804766 PF CA 501(c)(3) PF Colburn Schl true Colburn Foundation 6311 Romaine St Suite 7138 Los Angeles CA 90038 954693145 PF CA 501(c)(3) PF Colburn Schl true false false true false false false false false false false false false false false false false false false false Colburn Music Fund c 7300000 Cost Colburn Foundation c 189982 Cost