2018-04-12T08:17:41-07:00 2017-06-30 NEW ENGLAND CONSERVATORY OF MUSIC 290 HUNTINGTON AVE Boston MA 02115 990 2016-07-01 237225104 New England Conservatory of Music NEWE 6175851725 290 Huntington Avenue Boston MA 02115 Lesser Edward CFO 2018-04-12 true Lynne Johnson P00757336 6179129000 2016 2021-01-29 14:40:06Z Novak Thomas 109264773 false false 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 1152 200 38286 -16883 8905289 22636647 40979253 44748957 20754543 5300924 223809 -35961 70862894 72650567 13597830 15049918 0 26249847 27906856 0 1643638 12248074 13367064 52095751 56323838 18767143 16326729 242863764 261016560 55503580 49372016 187360184 211644544 X New England Conservatory of Music (NEC) educates and trains musicians of all ages from around the world. false false 39627898 14505986 34794050 Higher Education : College - Programs leading to Bachelors degrees, Masters degrees, Doctoral degrees, and diplomas. NECs enrollment is comprised of approximately half undergraduates and half graduate students with an international student population of more than 30%. Financial aid represents 41.69% of tuition and fees. (783 students) 6389406 361482 5652407 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. 6.4% financial aid is provided based primarily on need. (2,240 students) 1622052 182450 2804689 Student Services Program, General/Other: Residence Hall/Dining - All freshmen are housed and dine in the NEC residence hall. The cafeteria is open to the entire community. (162 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. 730366 1497811 48369722 true true false false false false false true false true true true false false true true true false true false true false false false 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 212 0 true 1152 true true true false false false false true true true 1 false false false false false false false false false false X 25 24 false false false false false false false true true false false false true true true true true true true false MA X Kristina Martin Controller 6175851725 290 Huntington Avenue Boston MA 02115 Anderson Michael J Board Trustee 2.00 0.00 X 0 0 0 Bajakian Clinton J Board Trustee 2.00 0.00 X 0 0 0 BealEnid L Board Trustee 2.00 0.00 X 0 0 0 Blumenthal Thomas W Treasurer,ViceC 2.00 0.00 X X 0 0 0 Burnes Kennett F Board Chair 2.00 0.00 X X 0 0 0 de Braganca Barbara Board Trustee 2.00 0.00 X 0 0 0 Elfers Deborah B Board Trustee 2.00 0.00 X 0 0 0 Erichsen Peter C Secretary 2.00 0.00 X X 0 0 0 Ett Alan P Board Trustee 2.00 0.00 X 0 0 0 Ferguson Corinne Board Trustee 2.00 0.00 X 0 0 0 Fulham Timothy W Board Trustee 2.00 0.00 X 0 0 0 Glauber Barbara W Board Trustee 2.00 0.00 X 0 0 0 Gray Eric A Board Trustee 2.00 0.00 X 0 0 0 Joni Saj-nicole A Board Trustee 2.00 0.00 X 0 0 0 Lindsey Justin Board Trustee 2.00 0.00 X 0 0 0 Loder John M Board Trustee 2.00 0.00 X 0 0 0 McGrath Thomas B Board Trustee 2.00 0.00 X 0 0 0 Prevost Patrick M Board Trustee 2.00 0.00 X 0 0 0 Ross Peter Board Trustee 2.00 0.00 X 0 0 0 Rubin Sally L Board Trustee 2.00 0.00 X 0 0 0 Smithgall Thurmond Board Trustee 2.00 0.00 X 0 0 0 Thonis Michael Board Trustee 2.00 0.00 X 0 0 0 Wilmerding Frances B Board Trustee 2.00 0.00 X 0 0 0 Yogg Joan H Board Trustee 2.00 0.00 X 0 0 0 NovakThomas Interim Preside 40.00 0.00 X X 245115 0 14826 Lesser Ed Sr. VP Fin & Op 40.00 0.00 X 285186 0 50798 Rainer Kairyn Chief of Staff 40.00 0.00 X 178326 0 35660 Jones Donald VP Inst Advance 40.00 0.00 X 225354 0 8575 Eaglen Lyson Jane College Faculty 35.00 0.00 X 196943 0 25711 Lesser Laurence College Faculty 35.00 0.00 X 174178 0 17565 Foley Leslie Chief Strategy Off 35.00 0.00 X 168573 0 26831 Weilerstein Donald College Faculty 35.00 0.00 X 229735 0 23540 WolffHugh College Faculty 35.00 0.00 X 200397 0 31541 WoodcockAnthony Former Presiden 0.00 0.00 X 219094 0 0 2122901 235047 47 true true false Tishman Construction Corp 101 Federal Street Suite 1000 Boston MA 02110 Construction 40794246 Ann Beha Architects Inc 33 Kingston St Boston MA 02111 Architect service 829739 Guardian Security & Protection LLC 50 Strawberry Lane Canton MA 02021 Security service 817094 Aramark Services Inc 1101 Market St Philadelphia PA 19107 Dining hall mgmt 629816 AM PM Cleaning Corp 295 Weston St Waltham MA 02453 Cleaning service 500797 17 779301 60794 21796552 3170848 22636647 Concerts and Tours 611710 930633 930633 Non-academic fees 611710 690723 690723 Room and board 721310 2332080 2332080 Student health insurance 524114 743370 743370 Tuition and academic fees 611710 38961661 38961661 1090490 1090490 44748957 646358 9397 636961 0 0 0 41101818 8255 36455507 4646311 8255 4654566 28889 4625677 87990 779301 158699 -70709 -70709 0 0 Miscellaneous income 900099 8344 8344 Other Special Events 900099 15312 15312 Publication 511190 7330 7330 3762 3762 34748 72650567 44748957 38286 5226677 0 15049918 15049918 0 0 895329 265326 564768 65235 0 21870704 18156239 2811553 902912 675567 563444 82080 30043 2881260 2364692 391824 124744 1583996 1284733 231690 67573 0 96288 7751 84725 3812 79600 79600 0 0 216952 216952 1590653 777688 679441 133524 150901 8535 142104 262 1310814 897570 306592 106652 828423 107667 720756 0 3362756 938075 2424681 1280711 1185733 29283 65695 0 59265 41373 17438 454 769697 660244 87244 22209 0 1983680 1811710 149387 22583 0 Student health and food 1398925 1398925 Miscellaneous expenses 155042 80100 70793 4149 Payroll processing & temp agen 94524 94524 Allocation of building op 0 2788300 -2882091 93791 -11167 -18301 7134 56323838 48369722 6310478 1643638 X 12311387 2189926 32797020 11569955 8202700 8074245 8535059 895943 0 0 3698236 3257139 0 957188 306802 148931050 31107088 78704031 117823962 36042818 46836735 61615325 70061853 0 0 0 242863764 261016560 11597396 6754654 800919 861962 38345000 36994172 4760265 4761228 55503580 49372016 X 37571396 39858446 78716141 97934340 71072647 73851758 187360184 211644544 242863764 261016560 X 16326729 7762772 194859 X false true X true true true X Part I: Additional Information 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). However, due to a Form 990 software limitation, NEC is unable to both disclose Part II in Schedule A and check off line 2 of Part I, for schools in Schedule A and to have Schedule E completed. This software limitation only allows the organization to enter Part II of Schedule A if one of the boxes on lines 5, 7, or 8 of Part I is checked off or if the organization failed to qualify under Part III of Schedule A. This software limitation also only allows the organization to enter Schedule E if the organization checks off line 2 of Schedule A, Part I. The public support percentages were 73.31% and 66.25% for 2016 (Schedule A, Part II, Section C, Line 14) and 2015 (Schedule A, Part II, Section C, Line 15), respectively. The complete calculation is available upon request. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X true 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 111484527 942000 6110630 -2505616 -5541007 -225761 110264773 0.14330 0.61640 0.24030 false false false 1269498 1269498 49691513 20721266 28970247 21079701 10385822 10693879 76890338 76890338 117823962 13765435 F 70061853 Perkins Loan Refundable Advances 3797658 Planned giving liability 963570 4761228 X 65505675 7762772 -14690712 -6927940 72433615 216952 216952 72650567 41221315 158698 158698 41062617 216952 15044269 15261221 56323838 Part III, Line 1a: If organization elected under SFAS 116 to not report are, historical treasures, o 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: Description of organization's collections and how it furthers its purpose. 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: Intended uses of the endowment fund. Endowment revenue is used to support program-related activities. Part X : FIN48 Footnote 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, 2016 were reviewed, and it was determined that no provision for uncertain tax positions was required as of June 30, 2017 or 2016. Management believes that theConservatorys income tax returns for fiscal years ending June 30, 2014 and prior are no longer subject to examination by taxing authorities. Part XII, Line 2d: Other expenses and losses per audited F/S Rental revenue reported gross $0 Fundraising events exp reported gross $158698 Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S Tuition & dorm scholarship $15049918 Bad debt $-5649 true true true true true true true false false false false false false false false true false true Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental Agency US Dept of Education student grants and loans $8,946,955; Commonwealth of Massachusetts Cultural Council $25,577 Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized 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, Line 4 - Explanation of Records and Materials Not Maintained Schedule E, Line 5 - Explanation of Organization Discrimination by Race Central Amer & Caribbean 0 0 Investments 9715381 Europe 0 0 Program services Academic activities 406031 East Asia and the Pacific 0 0 Program services Academic activities 8205 Central Amer & Caribbean 0 0 Program services Academic activities 6165 South America 0 0 Program services Academic activities 4419 North America 0 0 Program services Academic activities 3968 Sub-Saharan Africa 0 0 Program services Academic activities 2000 Middle East and North Africa 0 0 Program services Academic activities 400 10146569 10146569 true false true true true false false Boston Gala 867291 779301 87990 16788 89242 44094 8575 867291 779301 87990 16788 89242 44094 8575 158699 -70709 true 0 0 Scholarship and other financial aid 1041 15049918 Additional Supplemental Information 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 true X X X X X true true false false false false false true false false Eaglen Lyson Jane College Faculty 196628 315 9527 16184 222654 Foley Leslie Chief Strategy Off 112084 56489 6090 20741 195404 Jones Donald VP Inst Advance 64035 161319 8575 233929 Lesser Ed Sr. VP Fin & Op 243990 41196 21555 29243 335984 Lesser Laurence College Faculty 174020 158 8472 9093 191743 NovakThomas Interim Preside 188975 55500 640 7582 7244 259941 Rainer Kairyn Chief of Staff 142757 35000 569 7782 27878 213986 Weilerstein Donald College Faculty 229417 318 9718 13822 253275 WolffHugh College Faculty 200049 348 7783 23758 231938 WoodcockAnthony Former Presiden 219094 219094 Part I, Line 1a: Relevant information in regards to selections on 1a. A $10,000 annual housing allowance was provided to faculty member, Jane Eaglen (Lyson). The housing allowance was reported as taxable compensation. Part I, Line 7: Non-Fixed payments not listed above Based on performance, Senior Administrators received bonuses determined by the Board. A Mass Development Fin Age 043431814 2014-06-30 23685000 Refunding Series 2008 bonds false false false B Mass Development Fin Age 043431814 2015-11-17 16050000 Capital expenditures false false false A 2085000 23685000 23389001 295999 true true true true B 16050000 699869 285794 39520 15024817 false false false true A false false false false false false true 0.11540 true true B false false false false false false false true A false true false false false false false true B false true false false false false false true A true B true X 72 2647848 Fair mkt value X 1 421800 Fair mkt value X Instruments 6 101200 Fair mkt value 4 false true true Part I, Line 32, Hire and Use of Third Parties 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 III, Line 4d: Other Program Services Description OTHER PROGRAM SERVICES 4: 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. Form 990, Part VI, Line 11b: Form 990 Review Process 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, Line 12c: Explanation of Monitoring and Enforcement of Conflicts 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, Line 15b: Compensation Review and Approval Process for Officers and Key Employees The following also refers to Part VI, Line 15a. 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, Line 19: Other Organization Documents Publicly Available 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). Other Changes In Net Assets Or Fund Balances - Other Increases Planned giving net change = $194859 Form 990, Part IX, Line 24e Due to a Form 990 software limitation, the description for Part IX, Line 24e, shouldread Bad Debt Expense, not All Other Expenses. Measure for Measure LLC 1209 Orange Street Wilmington DE 19801 237325104 To acquire & sell donated assets on behalf of NEC DE NEC New England Conservatory QALICB 290 Huntington Ave Boston MA 02115 473325852 To develop NECs student center MA 501(c)(3) 170(b)(1)(A)(vi) NEC true Charitable Remainder Trusts 290 Huntington Ave Boston MA 02115 Investment MA NEC true Gift Annuities 34 290 Huntington Ave Boston MA 02115 Investment MA NEC true Pooled Income Fund 9 290 Huntington Ave Boston MA 02115 Investment MA NEC true Charitable Lead Annuity Trust 230 Congress Street Boston MA 02110 Investment MA Loring W C Trust true true false false false false true true true false false false false false false false false false false false Gift Annuities 34 g 590514 Cash Gift Annuities 34 h 456458 Cash Gift Annuities 34 f 50162 Cash Pooled Income Fund 9 g 61821 Cash Pooled Income Fund 9 h 52953 Cash Charitable Lead Annuity Trust a 5000 Cash