2017-03-07T15:01:56-06:00 2016-06-30 GRANT THORNTON LLP 101 CALIFORNIA STREET SUITE 2700 SAN FRANCISCO CA 94111 990 2015-07-01 952501387 The Colburn School % KAREN S LOVETT COLB 2136212200 200 South Grand Avenue Los Angeles CA 90012 SETH WEINTRAUB CFO/CAO/TREASURER 2136212200 2017-05-15 true rosemarie brown P01278077 4159863900 2015 2021-01-29 14:40:06Z Sel Kardan 200 South Grand Avenue Los Angeles CA 90012 126457838 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. 28 28 442 85 -616512 -691783 32951822 15237072 11904108 11931864 15969986 -1117826 1628347 2103729 62454263 28154839 6549388 6287545 0 0 17190218 18879819 60000 55000 1539582 18488278 19807104 42287884 45029468 20166379 -16874629 367663009 345367648 150437990 158543773 217225019 186823875 X THE COLBURN SCHOOL PROVIDES WORLD CLASS PERFORMING ARTS EDUCATION IN LOS ANGELES. EXTRACURRICULAR EDUCATION IS PROVIDED TO MORE THAN 2,000 DIVERSE STUDENTS THROUGH THE SCHOOL OF PERFORMING ARTS, THE MUSIC ACADEMY, AND THE DANCE ACADEMY. THE CONSERVATORY PROVIDES DEGREED MUSIC EDUCATION TO GIFTED PUPILS. false false 40209812 6287545 11931864 The Colburn School of Performing Arts offers instruction in the performing arts for students of all ages and community service programs which bring music to under-served children in inner city schools. The school of performing arts was organized in the 1950s and offers classes, lessons and workshops in music, dance, drama and voice to approximately 2,000 students ranging in age from toddler to adult. Opened in 2003, the Colburn Conservatory of Music is one of the nations leading conservatories for highly talented college-age students pursuing the most rigorous classical music instrumental performance training. Conservatory programs range from two to four years in length and result in either a bachelor of music degree, masters degree, performance diploma, artists diploma or professional studies certificate. The Conservatory is accredited by the National Association of Schools of Music. The Colburn School Music Academy began in 2011 and offers a comprehensive curriculum of classes taught by prestigious, world-renowned artist faculty designed to develop pre-college age students as well rounded musicians. The Colburn School Dance Academy began in 2015 and offers intensive, exceptional training for pre-professional ballet dancers preparing for careers in dance. 40209812 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 true false false false false true false false false true true false false false true 196 0 true 442 true true true false false false false true true false false false false X 28 28 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 Chairperson 1.0 2.0 X X 0 0 0 Andrew Millstein Vice Chairman 1.0 0.0 X X 0 0 0 Robert S Attiyeh Board Member 1.0 1.0 X 0 0 0 Daniel L Avchen Board Member 1.0 0.0 X 0 0 0 David N Barry Board Member 1.0 0.0 X 0 0 0 Thomas L Beckmen Board Member 1.0 0.0 X 0 0 0 Adele Binder Board Member 1.0 0.0 X 0 0 0 David D Colburn Board Member 1.0 0.0 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 Placido Domingo Board Member 1.0 0.0 X 0 0 0 Bradley H Ellis Board Member 1.0 0.0 X 0 0 0 Bea Bennett 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 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 1.0 0.0 X 0 0 0 Peter W Wardle Board Member 1.0 0.0 X 0 0 0 Jonathan Weedman Board Member 1.0 0.0 X 0 0 0 Harry B Suh Board Member 1.0 0.0 X 0 0 0 Sel Kardan President & CEO 40.0 0.0 X 425455 0 48971 Seth Weintraub CFO/CAO/Treasurer 40.0 0.0 X 262304 0 18914 Linda Cormier Board of Directors Secretary 40.0 0.0 X 157669 0 13110 Richard Beene Dean, Conservatory of Music 40.0 0.0 X 291607 0 23446 Allison Sampson Senior VP of Advancement 40.0 0.0 X 225939 0 23395 Robert Lipsett Professor 40.0 0.0 X 343903 0 26946 Fabio Bidini Professor 40.0 0.0 X 205666 0 11622 Ronald Leonard Academy Director/Professor 40.0 0.0 X 229645 0 17771 Ory Shihor Academy Director/Professor 40.0 0.0 X 222432 0 23816 Clive Greensmith Professor 40.0 0.0 X 212231 0 24587 2576851 0 232578 33 false true false Nastec Strategic Security Solutions 23945 Calabasas Rd Suite 208 CALABASAS CA 91302 Security 930665 Peerless Building Maintenance 21020 Superior St CHATSWORTH CA 91311 Building Janitorial 595933 Cambridge Associates 2730 Sand Hill Road Suite 200 MENLO PARK CA 94025 Investment Mgt 401258 MK Rice Construction Inc 433 W Allen Ave Unit 116 SAN DIMAS CA 91773 Construction 252927 B B Plumbing 6649 Odessa Avenue VAN NUYS CA 91406 Construction 161100 10 1551704 7362000 6323368 55761 15237072 TUITION INCOME 611600 11368682 11368682 RENTAL INCOME 531120 563182 563182 11931864 3738687 -616512 4355199 0 0 0 0 0 93058645 97915158 -4856513 -4856513 -4856513 107750 1551704 387841 -280091 -280091 0 0 CAFE REVENUE 722514 1718206 1718206 TICKET SALES 900099 56022 56022 FILM SHOOTS 900099 37460 37460 572132 572132 2383820 28154839 11931864 -616512 1602415 0 6287545 6287545 0 0 1199850 233792 833709 132349 0 14154118 12572445 664467 917206 678357 591395 39458 47504 1720667 1553365 107509 59793 1126827 970552 82627 73648 45011 44111 450 450 17794 1732 16062 97759 11760 85879 120 0 55000 55000 985170 985170 2670864 2597021 35274 38569 125272 118716 578 5978 744779 668695 32988 43096 180021 171162 6042 2817 0 1798083 1704227 76402 17454 323817 300986 18561 4270 0 24794 19109 3984 1701 3762126 3686884 37621 37621 0 4853241 4756177 48532 48532 393267 385401 3933 3933 INSTRUMENTS 224684 224622 62 EQUIPMENT & FURNITURES 45621 40850 4521 250 SUBSCRIPTIONS 86010 54544 30002 1464 UBI TAXES 120639 41136 79503 3308152 3173585 86802 47765 45029468 40209812 3280074 1539582 0 0 5861461 311352 31796079 30835926 0 0 625000 610245 0 0 0 0 0 0 394878 167551 192576814 47559438 113935204 145017376 130401000 56396404 83483786 110795583 0 0 0 0 1165601 1233211 367663009 345367648 1512506 2237203 0 0 552437 500351 130985000 130985000 0 0 0 0 0 0 0 0 17388047 24821219 150437990 158543773 X 130193307 106616711 30612960 22456920 56418752 57750244 217225019 186823875 367663009 345367648 X -16874629 -6093344 -7433171 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 195183027 1331492 -8107826 550054 42248862 145607777 206073572 2434094 -6724639 213541 6386459 195183027 159119724 20533953 34531826 137602 7974329 206073572 145832328 56580 18269104 132870 4905418 159119724 153166240 51611 -2663931 117639 4603953 145832328 0.56283 0.39662 0.04056 false true true 32998916 276557 33275473 138215064 35665535 102549529 3016814 1075297 1941517 10353666 6493376 3860290 7715797 4325230 3390567 145017376 OTHER SECURITIES 110795583 F 110795583 0 INTEREST RATE SWAP AGREEMENT 24821219 24821219 X 5306227 -6093344 -15770098 -21863442 27169669 985170 985170 28154839 35474200 35474200 985170 8570098 9555268 45029468 Use of Endowment Funds Schedule D, Part V, Line 4: The School's endowment is established for a variety of purposes including various support, Department Chair endowments, scholarship support, and core programs. FIN 48 (ASC 740) Footnote Schedule D, Part X, Line 2: THE SCHOOL IS AN EDUCATION ORGANIZATION FOR FEDERAL AND STATE INCOME, GIFT, ESTATE AND INHERITANCE PURPOSES AND HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS AN ORGANIZATION THAT IS EXEMPT FROM INCOME TAX PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND HAS ALSO BEEN RECOGNIZED BY THE FRANCHISE TAX BOARD AS AN ORGANIZATION THAT IS EXEMPT FROM INCOME AND FRANCHISE TAXES PURSUANT TO CALIFORNIA REVENUE AND TAXATION CODE SECTION 23701D, EXCEPT WITH RESPECT TO ANY UNRELATED BUSINESS INCOME. IN ADDITION, THE SCHOOL IS EXEMPT FROM CALIFORNIA PROPERTY TAXES ON ITS REAL AND PERSONAL PROPERTY USED FOR EDUCATIONAL PURPOSES. AS OF JUNE 30, 2016, THE SCHOOL HAS A TAX NET OPERATING LOSS CARRYOVER FROM UNRELATED BUSINESS ACTIVITIES OF $1,256,606 FOR FEDERAL PURPOSES AND $2,920,775 FOR CALIFORNIA PURPOSES. THE TAX NET OPERATING LOSS CARRYOVER WILL BEGIN TO EXPIRE JUNE 30, 2031 FOR FEDERAL PURPOSES AND JUNE 30, 2029 FOR CALIFORNIA PURPOSES. IN JULY 2006, FASB ISSUED ASC TOPIC NO. 740, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES (ASC 740), WHICH REQUIRES ENTITIES TO DETERMINE WHETHER IT IS "MORE LIKELY THAN NOT" THAT A TAX POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITIES. AN UNCERTAIN TAX POSITION WILL NOT BE RECOGNIZED IF IT HAS LESS THAN A 50% LIKELIHOOD OF BEING SUSTAINED. THE SCHOOL ADOPTED THE PROVISIONS OF ASC 740 ON JULY 1, 2007. ADOPTION OF THIS PROVISION DID NOT HAVE AN IMPACT ON THE SCHOOL'S FINANCIAL STATEMENTS, AS MANAGEMENT BELIEVES THAT THERE ARE NO UNCERTAIN TAX POSITIONS WITHIN ITS CONSOLIDATED FINANCIAL STATEMENTS. THERE HAVE BEEN NO MATERIAL CHANGES IN UNRECOGNIZED BENEFITS AS OF THE YEAR ENDED JUNE 30, 2016 AND THE YEAR ENDING JUNE 30, 2015, NOR ARE ANY ANTICIPATED IN THE 12 MONTHS FOLLOWING JUNE 30, 2016. THERE HAVE BEEN NO RELATED TAX PENALTIES OR INTEREST, WHICH WOULD BE CLASSIFIED AS TAX EXPENSE IN THE STATEMENT OF ACTIVITIES. The open federal and state tax years are as follows: Jurisdiction Open Tax Years Federal - US June 30, 2013 through June 30, 2016 California June 30, 2012 through June 30, 2016 Reconciliation of Revenue per Audited Financial Statements Schedule D, Part XI, Line 2d: Expenses from rental activity $(171,892), caf expenses $(2,110,661), distribution from Colburn Music Fund $(7,200,000), and scholarships $(6,287,545) netted with respective revenue, gains, and other support line item on audited financial statements, but reported as expenses and losses on return. Reconciliation of Expenses per Audited Financial Statements Schedule D, Part XII, Line 4b: Expenses from rental activity $(171,892), caf expenses $(2,110,661), and scholarships $(6,287,545) netted with respective revenue, gains, and other support line item on audited financial statements, but reported as expenses and losses on return. 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 35142072 35142072 35142072 true false true true true false X X X X X X true FELDSTEINCO LLC 400 N Michigan Ave 1650 Chicago IL 60611 Consulting false 55000 -55000 55000 -55000 CA Annual Gala 1479234 1396234 83000 51857 252050 Taste of Colbur 180220 155470 24750 158 83776 0 1659454 1551704 107750 52015 335826 387841 -280091 true Conservatory Scholarship 117 6070844 CSPA Scholarship 366 177301 ACADEMY SCHOLARSHIP 30 39400 Procedures for Monitoring the Use of Grant Funds in the U.S. Schedule I, Part I, Line 2: Financal 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 true true X X X X X X false false false false false false false false false Sel Kardan President & CEO 378649 0 40996 0 5810 0 18464 0 30507 0 474426 0 0 0 Seth Weintraub CFO/CAO/Treasurer 238184 0 20992 0 3128 0 16671 0 2243 0 281218 0 0 0 Richard Beene Dean, Conservatory of Music 290942 0 0 0 665 0 15004 0 8442 0 315053 0 0 0 Allison Sampson Senior VP of Advancement 213668 0 10455 0 1816 0 15192 0 8203 0 249334 0 0 0 Linda Cormier Board of Directors Secretary 148829 0 5640 0 3200 0 10537 0 2573 0 170779 0 0 0 Robert Lipsett Professor 343147 0 0 0 756 0 18504 0 8442 0 370849 0 0 0 Fabio Bidini Professor 205531 0 0 0 135 0 8750 0 2872 0 217288 0 0 0 Ronald Leonard Academy Director/Professor 229348 0 0 0 297 0 15799 0 1972 0 247416 0 0 0 Ory Shihor Academy Director/Professor 221962 0 0 0 470 0 15545 0 8271 0 246248 0 0 0 Clive Greensmith Professor 211673 0 0 0 558 0 7679 0 16908 0 236818 0 0 0 Discretionary Spending Account Schedule J, Part I, Line 1a: A discretionary spending account in the form of an auto allowance is provided to the President & CEO only. The payments are reported on his Form W-2 as taxable compensation. Substantiation Prior to Reimbursing or Allowing Expenses Incurred Schedule J, Part I, Line 2: Expense reimbursement follows IRS guidelines for an accountable plan; requiring authorization, authentication of business purpose and substantiation with receipts. The auto allowance for the President & CEO does not fall under our accountable plan, and is, therefore, taxed to the President & CEO. 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. 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 64445262 0 2015 true false true true A false true true true false 0.01730 0.01730 false false false true B false true true true false 0.01760 0.01760 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 SCHEDULE K, PART I, COLUMN F 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. Sel Kardan president Housing Loan X 625000 610245 false true true 610245 X 7 55761 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, officers, and key employees Form 990, Part VI, Section A, Line 2: Board Member Catherine Colburn Hogel is the daughter of Board Chairperson Carol Colburn Grigor. Board Members Richard W. Colburn and David D. Colburn are brothers of Carol Colburn Grigor and Uncles of Catherine Colburn Hogel. 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, Lines 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. We use comparable compensation data (including Form 990's of other organizations and compensation surveys) for similarly qualified individuals in functionally comparable positions at similarly situated organizations; independent compensation consultants; 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: $(7,433,171) WFBI LLC 200 SOUTH GRAND AVENUE LOS ANGELES CA 90012 952501387 PROPERTY HOLD CA 86056 33119722 COLB SCHOOL Colburn Music Fund 1000 Wilshire Blvd Suite 555 Los Angeles CA 90017 954804766 Private Fdn CA 501(c)(3) 08 Colburn Schl false COLBURN FOUNDATION 1000 WILSHIRE BLVD SUITE 555 LOS ANGELES CA 90017 954693145 PRIVATE FDN CA 501(C)(3) 08 COLBURN SCHL false false false true false false false false false false false false false false false false false false false false