2019-05-14T14:55:22-05:00 2018-06-30 420714325 RSM US LLP 80 CITY SQUARE BOSTON MA 02129 990 2017-07-01 237225104 NEW ENGLAND CONSERVATORY OF MUSIC NEWE 6175851725 290 HUNTINGTON AVENUE BOSTON MA 02115 ELIZABETH DIONNE VICE PRESIDENT FOR FINANCE 6175851725 2019-05-14 1 LYNNE JOHNSON P00757336 6179129000 66.98.98.9 2019-05-14 14:26:22 ED P 500FCEA869F3103E05957D7D3205F93DE56F9DC2 80A56547EDB5E2BF0711BF7CB6211EB1BC4D6842 2017 2019-02-21 02:37:17Z THOMAS NOVAK 290 HUNTINGTON AVENUE BOSTON MA 02115 81301065 0 X WWW.NECMUSIC.EDU X 1867 MA NEW ENGLAND CONSERVATORY OF MUSIC (NEC) EDUCATES AND TRAINS MUSICIANS OF ALL AGES FROM AROUND THE WORLD. 25 24 1185 200 162612 162357 22636647 11109652 44748957 49426097 5300924 3256326 -35961 81939 72650567 63874014 15049918 15724538 0 0 27906856 29154958 0 0 2493282 13367064 19817686 56323838 64697182 16326729 -823168 261016560 263773665 49372016 45954119 211644544 217819546 X NEW ENGLAND CONSERVATORY OF MUSIC (NEC) EDUCATES AND TRAINS MUSICIANS OF ALL AGES FROM AROUND THE WORLD. 0 0 42579212 15185183 38031527 HIGHER EDUCATION : COLLEGE - PROGRAMS LEADING TO BACHELOR'S DEGREES, MASTER'S DEGREES, DOCTORAL DEGREES, AND DIPLOMAS. NEC'S ENROLLMENT IS COMPRISED OF APPROXIMATELY HALF UNDERGRADUATES AND HALF GRADUATE STUDENTS WITH AN INTERNATIONAL STUDENT POPULATION OF MORE THAN 30%. FINANCIAL AID REPRESENTS 39.93% OF TUITION AND FEES. (803 STUDENTS) 6670947 180940 4499452 STUDENT SERVICES PROGRAM, GENERAL/OTHER: RESIDENCE HALL/DINING - ALL FRESHMEN AND SOPHOMORES ARE HOUSED AND DINE IN THE NEC RESIDENCE HALL. THE CAFETERIA IS OPEN TO THE ENTIRE COMMUNITY. (242 STUDENTS) HEALTH SERVICES - ON-SITE STUDENT HEALTH CENTER PROVIDING ROUTINE AND URGENT CARE AND REFERRALS, STAFFED BY A PHYSICIAN AND NURSE PRACTITIONERS. ENTIRELY SUPPORTED BY STUDENT MEDICAL FEES. COUNSELING SERVICES - ON-SITE CENTER PROVIDING CONFIDENTIAL COUNSELING FOR STUDENTS, STAFFED BY A PSYCHIATRIST AND PROFESSIONAL COUNSELORS. 5783071 358415 5837437 PREPARATORY AND CONTINUING EDUCATION PROGRAMS: SCHOOL OF PREPARATORY AND CONTINUING EDUCATION - MUSIC INSTRUCTION FOR CHILDREN AGES 4-18 AND ADULTS NOT LEADING TO A SPECIFIC DEGREE. PRIVATE STUDIO LESSONS ARE OFFERED AS WELL AS ENSEMBLES AND CLASSES. 6.14% FINANCIAL AID IS PROVIDED BASED PRIMARILY ON NEED. (2,550 STUDENTS) 748806 1057681 CONCERTS AND HALL RENTALS: OTHER PROGRAM SERVICES INCLUDE EXPENSES RELATED TO OVER 1,000 FREE NEC CONCERTS PERFORMED BY STUDENTS, FACULTY AND GUEST ARTISTS PER YEAR AND EXPENSES FOR CONCERTS AT NEC PERFORMED BY OUTSIDE ORGANIZATIONS. THESE OUTSIDE ORGANIZATIONS PAY NEC HALL RENTAL FEES AND OTHER ASSOCIATED RENTAL COSTS, SUCH AS SECURITY AND LIGHTING/TECHNICAL SERVICES, RELATED TO THEIR PERFORMANCES. 748806 1057681 55782036 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 218 0 1 1185 1 1 1 0 0 0 0 1 1 0 0 0 0 X 25 24 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MA X KRISTINA E MARTIN CONTROLLER 6175851725 290 HUNTINGTON AVENUE BOSTON MA 02115 BAJAKIAN CLINTON J BOARD TRUSTEE 2.00 X 0 0 0 BEAL ENID L BOARD TRUSTEE 2.00 X 0 0 0 BLUMENTHAL THOMAS W TREASURER & VICE CHAIR 2.00 X X 0 0 0 BURNES KENNETT F BOARD CHAIR 2.00 X X 0 0 0 DE BRAGANCA BARBARA BOARD TRUSTEE 2.00 X 0 0 0 ELFERS DEBORAH B BOARD TRUSTEE 2.00 X 0 0 0 ERICHSEN PETER C SECRETARY 2.00 X X 0 0 0 ETT ALAN P BOARD TRUSTEE 2.00 X 0 0 0 FERGUSON CORINNE BOARD TRUSTEE 2.00 X 0 0 0 FULHAM TIMOTHY W BOARD TRUSTEE 2.00 X 0 0 0 GLAUBER BARBARA W BOARD TRUSTEE 2.00 X 0 0 0 GRAY ERIC A BOARD TRUSTEE 2.00 X 0 0 0 JONI SAJ-NICOLE A BOARD TRUSTEE 2.00 X 0 0 0 LINDSEY JUSTIN BOARD TRUSTEE 2.00 X 0 0 0 LODER JOHN M BOARD TRUSTEE 2.00 X 0 0 0 MCGRATH THOMAS B BOARD TRUSTEE 2.00 X 0 0 0 NOVAK THOMAS INTERIM PRESIDENT 40.00 X X 217717 0 16837 PREVOST PATRICK M BOARD TRUSTEE 2.00 X 0 0 0 ROSS PETER BOARD TRUSTEE 2.00 X 0 0 0 RUBIN SALLY L BOARD TRUSTEE 2.00 X 0 0 0 SMITH CHAD BOARD TRUSTEE 2.00 X 0 0 0 SMITHGALL THURMOND BOARD TRUSTEE 2.00 X 0 0 0 THONIS MICHAEL BOARD TRUSTEE 2.00 X 0 0 0 WILMERDING FRANCES B BOARD TRUSTEE 2.00 X 0 0 0 YOGG JOAN H BOARD TRUSTEE 2.00 X 0 0 0 LESSER ED SR. VP FIN & OP 40.00 X 294683 0 48766 KELLY KATHLEEN VP OF INST ADVANCEMENT 40.00 X 261239 0 15125 RAINER KAIRYN VP OF ADMINISTRATION 40.00 X 187198 0 41764 EAGLEN LYSON JANE COLLEGE FACULTY 35.00 X 199576 0 27350 KIM SOOVIN COLLEGE FACULTY 35.00 X 166876 0 42010 LESSER LAURENCE COLLEGE FACULTY 35.00 X 168683 0 18338 WEILERSTEIN DONALD COLLEGE FACULTY 35.00 X 229135 0 25641 WOLFF HUGH COLLEGE FACULTY 35.00 X 168677 0 34025 1893784 0 269856 47 0 1 0 TISHMAN CONSTRUCTION CORP 101 FEDERAL STREET SUITE 1000 BOSTON MA 02110 CONSTRUCTION 9524935 GUARDIAN SECURITY & PROTECTION LLC 50 STRAWBERRY LANE CANTON MA 02021 SECURITY SERVICE 1010417 ARAMARK SERVICES INC 1101 MARKET STREET PHILADELPHIA PA 19107 DINING HALL MANAGEMENT 1009171 AM PM CLEANING CORP 295 WESTON STREET WALTHAM MA 02453 CLEANING SERVICE 711497 NORTHSTAR CONTRACTING GROUP INC 401-S SECOND STREET EVERETT MA 02149 CONSTRUCTION 440914 22 974833 47851 10086968 688439 11109652 TUITION AND ACADEMIC FEES 611710 41799822 41799822 ROOM AND BOARD 721310 4003001 4003001 STUDENT HEALTH INSURANCE 524114 1008612 1008612 NON-ACADEMIC FEES 611710 723402 723402 HALL RENTALS 532000 563870 563870 1327390 1327390 49426097 185298 33208 152090 16893 0 16893 16893 16893 20310839 17239811 3071028 3071028 129404 2941624 119550 974833 187240 -67690 -67690 OTHER SPECIAL EVENTS 900099 63916 63916 OTHER REVENUE 900099 42597 42597 PUBLICATION 511190 16757 16757 9466 9466 132736 63874014 49426097 162612 3175653 X 15724538 15724538 1092769 240651 572492 279626 22740906 18953348 2843233 944325 689555 579153 83238 27164 2960227 2421586 386961 151680 1671501 1349850 236335 85316 132408 505 127573 4330 108907 108907 243581 243581 1986385 898624 737652 350109 307872 5156 116117 186599 1565636 984879 407168 173589 933918 108080 825838 4261104 1474552 2786552 1042460 816736 55227 170497 117955 42158 38794 37003 1239580 1210545 21511 7524 5534207 5287324 198969 47914 STUDENT HEALTH AND FOOD 2030957 2030957 MISCELLANEOUS EXPENSE 161203 49071 106708 5424 PAYROLL PROCESS & TEMP 102635 102635 BAD DEBT/LOSS 48878 35554 13324 3568769 -3590951 22182 64697182 55782036 6421864 2493282 2189926 2955651 11569955 582903 8074245 9211501 895943 987610 3257139 2674353 306802 566821 157684002 35201821 117823962 122482181 46836735 48716994 70061853 75595651 261016560 263773665 6754654 2692455 861962 1019645 36994172 35956013 4761228 6286006 49372016 45954119 X 39858446 42444105 97934340 100163688 73851758 75211753 211644544 217819546 261016560 263773665 X -823168 7200468 -202298 X 0 1 X 1 1 1 X 7067173 17725421 5905289 19636647 7125607 57460137 7067173 17725421 5905289 19636647 7125607 57460137 57460137 2614400 2813464 1733539 636961 168983 7967347 29632 240521 102821 372974 410515 307104 153947 122738 252286 1246590 67047048 165091322 0.85700 0.73310 X SCHEDULE A, PART I: NEC IS BROADLY SUPPORTED IN NATURE AND IS DEEMED TO MEET THE 33 1/3% SUPPORT PUBLIC SUPPORT TEST UNDER CURRENT GUIDANCE. SINCE NEC USES THE SPECIAL RULE BASED ON MEETING THE 33 1/3% SUPPORT TEST ON SCHEDULE B, NEC IS REQUIRED TO DISCLOSE THE PART II. SUPPORT SCHEDULE FOR ORGANIZATIONS DESCRIBED IN SECTIONS 170(B)(1)(A)(IV) AND 170(B)(1)(A)(VI). X X X X 1 116917341 2875563 10273546 3013477 2422780 243581 124386612 105735542 4196622 12411747 2374497 2835121 216952 116917341 115564750 1359168 -4268619 2243995 4432136 243626 105735542 120331512 1881177 -2276516 2508401 1630550 232472 115564750 110264773 1005510 15904177 2644163 3964368 234417 120331512 0.15510 0.59080 0.25410 0 0 1269498 1269498 132150298 25352585 106797713 24127249 9849236 14278013 136957 136957 122482181 13063539 F BRANDYWINE GLOBAL OPPORTUNIST 5843133 F ADAMAS OPPORTUNITIES L.P. 3552720 F ADAMAS PARTNERS L.P. 5062722 F AQR CAPITAL MANAGEMENT 2521209 F BAUPOST VALUE PARTNERS L.P. IV 14498622 F SEAMANS GLOBAL OPPORTUNITIES FUND 66318 F BROOKSIDE CAYMAN, LIMITED 8990 F GREENLIGHT CAPITAL 2098380 F SANDERSON INTL VALUE FUND 8022797 F MARATHON-LONDON EMERGING MARKETS 2541904 F WESTWOOD GLOBAL INVESTMENTS 2589680 F KLINE HILL PARTNERS FUND II LP 50000 F BAIN CAPITAL FUND XI 999522 F HIGHLAND CAPITAL PARTNERS 9-B L.P. 1325136 F ARROWSTREET CAPITAL 8464705 F KABOUTER 4083382 F DOVER STREET IX 312763 F HIGHBAR PARTNERS III 490129 F 75595651 PERKINS LOAN REFUNDABLE ADVANCES 3345478 PLANNED GIVING LIABILITY 940528 LINE OF CREDIT 2000000 6286006 X 55139917 7200468 -15690984 -8490516 63630433 243581 243581 63874014 48964915 187240 187240 48777675 243581 15675926 15919507 64697182 PART III, LINE 1A: THE CONSERVATORY MAINTAINS COLLECTIONS OF HISTORICAL INSTRUMENTS, ART, VOCAL SCORES, RECORDINGS, AND LITERARY WORKS. THESE COLLECTIONS ARE PROTECTED AND PRESERVED FOR PUBLIC EXHIBITION, EDUCATION, RESEARCH, AND THE FURTHERANCE OF PUBLIC SERVICE. THEY ARE NEITHER DISPOSED OF FOR FINANCIAL GAIN NOR ENCUMBERED IN ANY MANNER. ACCORDINGLY, THESE COLLECTIONS ARE NOT CAPITALIZED FOR FINANCIAL STATEMENT PURPOSES. PART III, LINE 4: NEC'S HISTORICAL INSTRUMENTS ARE EXHIBITED AS ART OBJECTS ON CAMPUS AND AT THE MUSEUM OF FINE ARTS, BOSTON. NEC'S RARE BOOKS, RECORDINGS AND LETTERS ARE PART OF ITS LIBRARY HOLDINGS, AVAILABLE FOR RESEARCH BY NEC STUDENTS AND STAFF AS WELL AS OTHERS FROM THE COMMUNITY. PART V, LINE 4: ENDOWMENT REVENUE IS USED TO SUPPORT PROGRAM-RELATED ACTIVITIES. PART X, LINE 2: THE CONSERVATORY RECOGNIZES THE FINANCIAL STATEMENT BENEFIT OF A TAX POSITION ONLY AFTER DETERMINING THAT THE RELEVANT TAX AUTHORITY WOULD MORE LIKELY THAN NOT SUSTAIN THE POSITION FOLLOWING AN AUDIT. TAX POSITIONS FOR THE OPEN TAX YEARS AS OF JUNE 30, 2017 WERE REVIEWED, AND IT WAS DETERMINED THAT NO PROVISION FOR UNCERTAIN TAX POSITIONS WAS REQUIRED AS OF JUNE 30, 2018 OR 2017. MANAGEMENT BELIEVES THAT THE CONSERVATORY'S INCOME TAX RETURNS FOR FISCAL YEARS ENDING JUNE 30, 2015 AND PRIOR ARE NO LONGER SUBJECT TO EXAMINATION BY TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: BAD DEBT EXPENSE 48,612. FUNDRAISING EVENTS REPORTED GROSS 187,240. PLANNED GIVING NET CHANGE -202,298. TUITION & DORM SCHOLARSHIP -15,724,538. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENTS EXP. REPORTED GROSS 187,240. PART XII, LINE 4B - OTHER ADJUSTMENTS: BAD DEBT -48,612. TUITION & DORM SCHOLARSHIP 15,724,538. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 NEC INCLUDES ITS NONDISCRIMINATION POLICY IN BROCHURES, CATALOGUES, AND COMPARABLE MATERIALS RELATED TO STUDENT ADMISSIONS, PROGRAMS, AND SCHOLARSHIPS TO COMPLY WITH THE PUBLICITY REQUIREMENT. NEC CUSTOMARILY RECRUITS ITS STUDENTS BOTH NATIONWIDE AND WORLDWIDE, AND, AS SUCH, FOLLOWS THIS NONDISCRIMINATORY POLICY. SCHEDULE E, PART I, LINE 6 US DEPARTMENT OF EDUCATION STUDENT GRANTS AND LOANS $10,408,564; COMMONWEALTH OF MASSACHUSETTS CULTURAL COUNCIL $25,000. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 10527984 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES ACADEMIC ACTIVITIES 174443 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES ACADEMIC ACTIVITIES 3986 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES ACADEMIC ACTIVITIES 2885 NORTH AMERICA 0 0 PROGRAM SERVICES ACADEMIC ACTIVITIES 500 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES ACADEMIC ACTIVITIES 400 RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES ACADEMIC ACTIVITIES 300 0 0 0 0 0 0 10710498 0 10710498 1 0 1 1 1 0 BOSTON GALA 1094383 974833 119550 53124 74690 38179 21247 1094383 974833 119550 53124 74690 38179 21247 187240 -67690 1 SCHOLARSHIP AND OTHER FINANCIAL AID 1058 15724538 PART I, LINE 2: THE AWARDING OF STUDENT FINANCIAL AID GRANTS UNDER THE U.S. DEPARTMENT OF EDUCATION'S STUDENT FINANCIAL ASSISTANCE PROGRAM IS MONITORED BY NEC'S FINANCIAL AID OFFICE, WHICH ENSURES THAT NEC MEETS THE COMPLIANCE REQUIREMENTS OF OMB CIRCULAR A-133. NEC'S FINANCIAL AID OFFICE AND BUSINESS OFFICE ARE RESPONSIBLE FOR ESTABLISHING AND MAINTAINING EFFECTIVE INTERNAL CONTROLS OVER COMPLIANCE WITH THE REQUIREMENTS OF LAWS, REGULATIONS, CONTRACTS, AND GRANTS APPLICABLE TO FEDERAL PROGRAMS. ONLY CURRENT NEC STUDENTS IN GOOD STANDING ARE PROVIDED SCHOLARSHIP GRANTS OR OTHER FINANCIAL ASSISTANCE. GRANTS AND ASSISTANCE TO NEC COLLEGE STUDENTS ARE IN THE FORM OF INSTITUTIONAL SCHOLARSHIPS. ALL COLLEGE SCHOLARSHIPS ARE ADMINISTERED THROUGH NEC'S FINANCIAL AID SYSTEM. INSTITUTIONAL SCHOLARSHIPS ARE CREDITED TO THE STUDENT'S INTERNAL TUITION ACCOUNT AND REPRESENT AN OFFSET TO TUITION AND OTHER FEES ASSESSED BY NEC. PREPARATORY PROGRAM, CONTINUING EDUCATION PROGRAM AND SUMMER SESSION SCHOLARSHIPS ARE TRACKED SEPARATELY AND ADMINISTERED THROUGH NEC'S STUDENT BILLING SYSTEM. PREPARATORY PROGRAM, CONTINUING EDUCATION PROGRAM AND SUMMER SESSION SCHOLARSHIPS ARE CREDITED TO THE STUDENT'S INTERNAL TUITION ACCOUNT AND REPRESENT AN OFFSET TO TUITION AND OTHER FEES ASSESSED BY NEC. GRANTS AND ASSISTANCE TO NEC STAFF AND THEIR ELIGIBLE SPOUSES AND DEPENDENTS ARE IN THE FORM OF STAFF TUITION WAIVERS, PURSUANT TO A WRITTEN BENEFITS PLAN. STAFF TUITION WAIVERS ARE ADMINISTERED THROUGH THE CONSERVATORY'S BENEFITS SYSTEM AND, LIKE INSTITUTIONAL SCHOLARSHIPS FOR STUDENTS, ARE CREDITED TO THE INDIVIDUAL'S INTERNAL ACCOUNT TO OFFSET TUITION CHANGES. ALL STUDENTS RECEIVING SCHOLARSHIPS AND FELLOWSHIPS ARE JUDGED WORTHY BY THE INSTITUTION'S ASSESSMENT ON THE BASIS OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED AND OTHER SIMILAR STANDARDS. X 1 0 X X X X X 0 1 0 0 0 0 0 1 0 NOVAK THOMAS INTERIM PRESIDENT 197112 0 20000 0 605 0 8937 0 7900 0 234554 0 0 0 LESSER ED SR. VP FIN & OP 248578 0 30000 0 16105 0 20192 0 28574 0 343449 0 0 0 KELLY KATHLEEN VP OF INST ADVANCEMENT 230751 0 30000 0 488 0 9896 0 5229 0 276364 0 0 0 RAINER KAIRYN VP OF ADMINISTRATION 161593 0 25000 0 605 0 8838 0 32926 0 228962 0 0 0 EAGLEN LYSON JANE COLLEGE FACULTY 199297 0 0 0 279 0 9729 0 17621 0 226926 0 0 0 KIM SOOVIN COLLEGE FACULTY 166599 0 0 0 277 0 7484 0 34526 0 208886 0 0 0 LESSER LAURENCE COLLEGE FACULTY 168474 0 0 0 209 0 8602 0 9736 0 187021 0 0 0 WEILERSTEIN DONALD COLLEGE FACULTY 228926 0 0 0 209 0 9925 0 15716 0 254776 0 0 0 WOLFF HUGH COLLEGE FACULTY 168381 0 0 0 296 0 7946 0 26079 0 202702 0 0 0 PART I, LINE 1A A $10,000 ANNUAL HOUSING ALLOWANCE WAS PROVIDED TO FACULTY MEMBER, JANE EAGLEN (LYSON). A $10,000 ANNUAL HOUSING ALLOWANCE WAS PROVIDED TO FACULTY MEMBER, SOOVIN KIM. THE HOUSING ALLOWANCES WERE REPORTED AS TAXABLE COMPENSATION. PART I, LINE 4B SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. EDWARD LESSER'S $9,500, REPRESENTING NEC'S CONTRIBUTIONS TO A 457(F) PLAN, WHICH ARE REPORTED IN COLUMN (C) AS DEFERRED COMPENSATION. CONTRIBUTIONS VEST AT A FUTURE DATE AND ARE THEREFORE DEFERRED FOR TAX PURPOSES. VESTING IS CONTINGENT UPON CONTINUED EMPLOYMENT; TERMINATION WOULD RESULT IN FORFEITURE OF UNVESTED 457(F) CONTRIBUTIONS. PART I, LINE 7 BASED ON PERFORMANCE, SENIOR ADMINISTRATORS RECEIVED BONUSES DETERMINED BY THE BOARD. A MASS DEVELOPMENT FINANCE AGENCY 043431814 2014-06-30 23685000 REFUNDING SERIES 2008 BONDS 0 0 0 B MASS DEVELOPMENT FINANCE AGENCY 043431814 2015-11-17 16050000 CAPITAL EXPENDITURES 0 0 0 A 2810000 23685000 23389001 295999 1 1 1 1 B 16050000 699869 285794 39520 15024817 0 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 1 0.11540 1 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 B 1 X 42 395319 FMV X INSTRUMENTS 12 293120 FMV 6 0 1 1 PART I, COLUMN (B): PART I, COLUMN (B): NEC IS REPORTING A COMBINATION OF BOTH THE NUMBER OF CONTRIBUTIONS AND THE NUMBER OF ITEMS RECEIVED. PART I, LINE 9, SECURITIES PUBLICLY TRADED, COLUMN (B): THE NUMBER OF CONTRIBUTIONS ARE REPORTED. PART I, LINE 25, INSTRUMENTS, COLUMN (B): THE NUMBER OF ITEMS ARE REPORTED. PART I, LINE 32B: UBS IS THE STOCK BROKER TO WHICH NEC DIRECTS DONORS WHO WOULD LIKE TO MAKE STOCK GIFTS TO THE ORGANIZATION. UBS ACCEPTS AND LIQUIDATES EACH STOCK GIFT AND SENDS THE PROCEEDS TO NEC. CAR PROGRAM INC. IS USED BY NEC TO BROKER VEHICLE DONATIONS. HOWEVER, NO VEHICLE DONATIONS WERE RECEIVED IN THE CURRENT TAX YEAR. FORM 990, PART VI, SECTION B, LINE 11B IN MARCH 2010, NEC'S BOARD OF TRUSTEES VOTED TO DELEGATE REVIEW AND APPROVAL OF THE FORM 990 TO THE FINANCE COMMITTEE. THE FINANCE COMMITTEE RECEIVES A COPY OF THE DRAFT FORM 990 WITHOUT SCHEDULE B PRIOR TO THE MEETING AT WHICH THEY REVIEW THE FORM 990. AT THE MEETING, MEMBERS OF THE FINANCE COMMITTEE RECEIVE A PRESENTATION ON THE FORM 990 FROM MANAGEMENT AND PROVIDE INPUT ON THE FORM 990. IN ADDITION, NEC HAS TAX ADVISORS FROM A NATIONAL ACCOUNTING FIRM REVIEW THE FORM 990. LASTLY, A FINAL COPY OF THE FORM 990 WITHOUT SCHEDULE B IS PROVIDED TO ALL TRUSTEES PRIOR TO ELECTRONICALLY FILING THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED TO OFFICERS, TRUSTEES AND KEY EMPLOYEES ANNUALLY. ALL OF THESE INDIVIDUALS ARE REQUIRED TO COMPLETE THE FORM FOR THE PAST FISCAL YEAR AND DISCLOSE ANY CONFLICTS OF INTEREST WITHIN THE FORM. THE POLICY ALSO INDICATES THAT OFFICERS, TRUSTEES AND KEY EMPLOYEES ARE REQUIRED TO MAKE CONFLICT OF INTEREST DISCLOSURES AT ANY TIME DURING THE YEAR THAT THEY BECOME AWARE OF A CONFLICT OF INTEREST. THESE CONFLICTS ARE REVIEWED BY THE CONTROLLER AS WELL AS THE AUDIT COMMITTEE AND DISCLOSED WITHIN THE ANNUAL FINANCIAL REPORT IF MATERIAL AND ON FORM 990 IF THEY MEET THE STATED IRS THRESHOLDS. INDIVIDUALS WHO HAVE CONFLICTS OF INTEREST OR ARE OTHERWISE NOT INDEPENDENT FROM NEC DUE TO A BUSINESS RELATIONSHIP OR RECEIVING COMPENSATION FROM NEC RECUSE THEMSELVES FROM BOARD OF TRUSTEES VOTES ON MATTERS HAVING TO DO WITH THEIR TRANSACTIONS OR COMPENSATION. FORM 990, PART VI, SECTION B, LINE 15 OFFICER AND KEY EMPLOYEE COMPENSATION IS REVIEWED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, WHICH HIRES AN INDEPENDENT COMPENSATION CONSULTANT PERIODICALLY TO COMPARE OFFICER AND KEY EMPLOYEE COMPENSATION AGAINST INDUSTRY DATA FOR SIMILARLY QUALIFIED PEOPLE, IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILAR ORGANIZATIONS. OFFICERS AND KEY EMPLOYEES' COMPENSATION PACKAGES ARE ALSO APPROVED BY THE BOARD OF TRUSTEES' COMPENSATION COMMITTEE, WHICH IS COMPRISED OF INDIVIDUALS WITHOUT ANY CONFLICTS OF INTEREST WITH RESPECT TO THE COMPENSATION, AND THE DELIBERATIONS AND DECISIONS ARE DOCUMENTED CONTEMPORANEOUSLY AS PART OF THE COMMITTEE'S MEETINGS. THE PROCESS OCCURRED IN FISCAL YEAR 2014 FOR THE SENIOR VICE PRESIDENT OF FINANCE AND OPERATIONS, THE EXECUTIVE VICE PRESIDENT FOR INSTITUTIONAL ADVANCEMENT, AND THE PROVOST AND DEAN OF THE COLLEGE. FORM 990, PART VI, SECTION C, LINE 19 NEC'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART IX, LINE 24E: THE DESCRIPTION FOR PART IX, LINE 24E, SHOULD READ BUILDING OPERATION ALLOCATION, NOT ALL OTHER EXPENSES. FORM 990, PART XI, LINE 9: PLANNED GIVING NET CHANGE -202,298. MEASURE FOR MEASURE LLC 1209 ORANGE STREET WILMINGTON DE 19801 237325104 TO ACQUIRE & SELL DONATED ASSETS ON BEHALF OF NEC. DE 0 0 NEW ENGLAND CONSERVATORY OF MUSIC NEW ENGLAND CONSERVATORY QALICB 290 HUNTINGTON AVE BOSTON MA 02115 473325852 TO DEVELOP NEC'S STUDENT CENTER MA 501(C)(3) LINE 7 NEW ENGLAND CONSERVATORY OF MUSIC 1 CHARITABLE REMAINDER TRUSTS INVESTMENT MA NEW ENGLAND CONSERVATORY OF MUSIC 1 GIFT ANNUITIES (34) INVESTMENT MA NEW ENGLAND CONSERVATORY OF MUSIC 1 POOLED INCOME FUND (9) INVESTMENT MA NEW ENGLAND CONSERVATORY OF MUSIC 1 CHARITABLE LEAD ANNUITY TRUST INVESTMENT MA NEW ENGLAND CONSERVATORY OF MUSIC 1 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 GIFT ANNUITIES (34) B 50000 CASH GIFT ANNUITIES (34) G 257922 CASH GIFT ANNUITIES (34) H 188624 CASH CHARITABLE LEAD ANNUITY TRUST A 5000 CASH PART II: IDENTIFICATION OF RELATED TAX-EXEMPT ORGANIZATIONS. LINE (1) NEC QALICB HAD BEEN DORMANT SINCE ITS INCEPTION. ITS DISSOLUTION DOCUMENTS HAVE BEEN FILED.