2015-02-16T18:54:27-06:00 2014-06-30 GRANT THORNTON LLP 515 S FLOWER STREET 7TH FLOOR LOS ANGELES CA 90071 990 2013-07-01 952501387 The Colburn School % KAREN S LOVETT COLB 2136212200 200 South Grand Avenue Suite Los Angeles CA 90012 Seth Weintraub CFO/Treasurer 2136212200 2015-02-13 true Rosemarie Brown P01278077 2136212200 2013 2016-02-25 16:41:14Z Sel Kardan 200 South Grand Avenue Los Angeles CA 90012 104627228 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. 31 31 383 85 -922298 -922298 19369936 36805156 10575330 11081794 19265158 9627012 1699534 1572334 50909958 59086296 6334058 6279874 0 0 14605810 15431057 45000 60000 1187934 17074798 17708567 38059666 39479498 12850292 19606798 324836690 370839778 148594675 148256068 176242015 222583710 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 Academy, and the Adult Studies Division. The Conservatory provides degreed music education to gifted pupils. false false 35395460 6279874 11081794 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 1950's and offers classes, lessons and workshops in music, dance, drama and voice to approximately 1,800 students ranging in age from toddler to adult. Opened in 2003, the Colburn Conservatory of Music is one of the nation's 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, master's degree, performance diploma, artist's 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. In 2012, the Colburn School added a program called "Adult Studies" to provide music and dance classes for the adult population in the Los Angeles area. 35395460 true true false false false false false false false true true true false false true true true false 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 false true false false false true 112 0 true 383 true true true false false false false true true false false false false X 31 31 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 Joan Boyett 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 Jennifer F Diener 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 Richard A Grant 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 Wendy Kelman Board Member 1.0 0.0 X 0 0 0 Eugene I Krieger Board Member 1.0 2.0 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 Charles Read 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 Nancy Baxter Board Member 1.0 0.0 X 0 0 0 Christiane Cuse Board Member - CYPT 1.0 0.0 X Sel Kardan President & CEO 40.0 0.0 X 364590 0 44793 Seth Weintraub CFO / Treasurer 40.0 0.0 X 237749 0 13597 Linda Cormier Board of Directors Secretary 40.0 0.0 X 134496 0 9078 Richard Beene Dean, Conservatory of Music 40.0 0.0 X 282680 0 25413 Allison Sampson Senior VP of Advancement 40.0 0.0 X 212762 0 21544 Robert Lipsett Professor 40.0 0.0 X 330892 0 24351 Ronald Leonard Professor 40.0 0.0 X 224363 0 12708 Ory Shihor Academy Director/Professor 40.0 0.0 X 218719 0 17868 Daniel Bee VP of Communications 40.0 0.0 X 203596 0 12378 Yehuda Gilad Professor 40.0 0.0 X 198339 0 12606 2408186 0 194336 25 false true false Nastec Strategic Solutions 23945 Calabasas Rd Suite 208 CALABASAS CA 91302 Security 798664 Cambridge Associates 2730 Sand Hill Road Suite 200 MENLO PARK CA 94025 Investment Mgmt. 448570 Peerless Building Maintenance 21020 Superior St CHATSWORTH CA 91311 Building Janitorial 481628 A-1 Electric Service Co Inc PO Box 6453 MALIBU CA 90265 Bldg Electrical Srvc 165043 Addis 2612-A 8th Street BERKELEY CA 94710 Branding Consultant 133016 8 1004971 16567445 19232740 1853031 36805156 TUITION INCOME 900099 10548847 10548847 RENTAL INCOME 531120 532947 532947 11081794 5757293 -922298 6679591 0 0 0 0 0 49007627 30000 45145684 22224 3861943 7776 3869719 3869719 102500 1004971 373024 -270524 -270524 0 0 CAFE REVENUE 722210 1588624 1588624 TICKET SALES 900099 110890 110890 FILM SHOOTS 900099 27755 27755 115589 115589 1842858 59086296 11081794 -922298 12121644 0 6279874 6279874 0 0 1348751 224393 889347 235011 0 11539717 10539633 501874 498210 366377 329212 15193 21972 1199725 1054432 92823 52470 976487 837948 84373 54166 74898 73400 749 749 58045 58045 95519 11789 83610 120 0 60000 60000 815980 815980 2450199 2395229 31012 23958 79891 78310 603 978 508539 435265 23344 49930 278569 261403 14503 2663 0 1506588 1429934 62029 14625 181521 157843 16268 7410 0 29916 21794 3668 4454 3297977 3232017 32980 32980 0 4622693 4530239 46227 46227 470356 460966 4695 4695 INSTRUMENTS 199201 197201 2000 EQUIPMENT & FURNITURE 72686 64002 8429 255 SUBSCRIPTION 77590 53147 23537 906 UBI TAXES 170 170 2888229 2727429 86645 74155 39479498 35395460 2896104 1187934 0 0 6285423 6654484 1570170 19482936 0 0 0 0 0 0 0 0 0 0 391549 430460 155247925 38332738 120259186 116915187 155427206 166335790 39531931 59436697 0 0 0 0 1371225 1584224 324836690 370839778 1416839 1572949 0 0 248528 511304 132485000 130985000 0 0 0 0 0 0 0 0 14444308 15186815 148594675 148256068 X 134036240 149951567 8755070 18647485 33450705 53984658 176242015 222583710 324836690 370839778 X 19606798 27477404 -742507 X false true X true false X false false false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 159119724 20533953 34531826 137602 7974329 206073572 145832328 56580 18269104 132870 4905418 159119724 153166240 51611 -2663931 117639 4603953 145832328 121353360 4001 35654999 101241 3744879 153166240 109614631 69543 14835574 3166388 121353360 0.66120 0.26200 0.07680 false true true 138215064 28734634 109480430 1778735 609621 1169114 8196448 5318887 2877561 7057678 3669596 3388082 116915187 OTHER SECURITIES 59436697 F 59436697 0 INTEREST RATE SWAP AGREEMENT 15186815 15186815 X 72064729 27477404 -13682991 13794413 58270316 815980 815980 59086296 30580527 30580527 815980 8082991 8898971 39479498 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, 2014, the School has a tax net operating loss carryover from unrelated business activities of $485,541 for Federal purposes and $957,737 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 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 there are no uncertain tax positions within its financial statements. There have been no material changes in unrecognized benefits as of the year ended June 30, 2014 and the year ended June 30, 2013, nor are any anticipated in the 12 months following June 30, 2014. There have been no related tax penalties or interest, which would be classified as tax expenses in the statement of activities. The open federal and state tax years are as follows: Jurisdiction Open Tax Years Federal - US June 30, 2011 through June 30, 2014 California June 30, 2010 through June 30, 2014 Reconciliation of Revenue per Audited Financial Statements Schedule D, Part XI, Line 2d: Expenses from rental activity, $(146,883), caf expenses $(1,638,925), distribution from Colburn Music Fund $(5,600,000), scholarships $(6,279,874), UBI Taxes $(170) and legal fees ($17,139) 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 $(146,883), caf expenses $(1,638,925), scholarships $(6,279,874), UBI Taxes $(170) and legal fees $(17,139) 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 24636659 24636659 24636659 true false true true false false X X X X X X true Charles R Feldstein Co 980 North Michigan Ave Chicago IL 60611 CONSULTING false 0 60000 -60000 0 60000 -60000 CA Annual Gala 946620 866620 80000 106290 174115 Taste of Colbu 160851 138351 22500 12581 80038 2 1107471 1004971 102500 118871 254153 373024 -270524 true Conservatory Scholarship 117 5582687 CSPA Scholarship 365 619228 Academy Scholarship 9 77959 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 X true false false false false false false false false Sel Kardan President & CEO 346030 0 0 0 18560 0 16683 0 28110 0 409383 0 0 0 Seth Weintraub CFO / Treasurer 235711 0 0 0 2038 0 11446 0 2151 0 251346 0 0 0 Richard Beene Dean, Conservatory of Music 282015 0 0 0 665 0 13801 0 11612 0 308093 0 0 0 Allison Sampson Senior VP of Advancement 210946 0 0 0 1816 0 10354 0 11190 0 234306 0 0 0 Robert Lipsett Professor 330136 0 0 0 756 0 16414 0 7937 0 355243 0 0 0 Ronald Leonard Professor 224066 0 0 0 297 0 10785 0 1923 0 237071 0 0 0 Ory Shihor Academy Director/Professor 218249 0 0 0 470 0 10821 0 7047 0 236587 0 0 0 Daniel Bee VP of Communications 196518 0 0 0 7078 0 6914 0 5464 0 215974 0 0 0 Yehuda Gilad Professor 197864 0 0 0 475 0 10041 0 2565 0 210945 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. Housing Allowance Schedule J, Part I, line 1a: A housing allowance is provided to the President & CEO only. It was pre-approved by the board and is 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 housing allowance and auto allowance for the President & CEO does not fall under our accountable plan, and is, therefore, taxed to the President & CEO. Severance Payments Schedule J, Part I, line 4a: The VP of Communications received a severance payment in the amount of $6,803, which was reported on his Form W-2 as taxable compensation. 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 2011 630304653 13033W7N7 2011-10-11 64925000 Refunding of Series 2006A Bonds false false false B CIEDB Series 2008 630304653 13033W6Z1 2011-03-01 69190000 Reissuance of Series 2008 Bonds false false false A 0 0 64925000 0 0 0 0 0 0 0 64925000 0 2007 true false true true B 3130000 0 69190000 0 0 0 0 0 0 0 69190000 0 2007 true false true true A false true true true false 0.01800 0.00000 0.01800 false false false true B false true true true false 0.01700 0.00000 0.01700 false false false true A false true true false 0 false 0 false true B false true true false 0 false 0 false true A true B true SCHEDULE K, PART I, COLUMN F The 2006A bonds were issued on November 30, 2006. The 2008 bonds were issued on December 9, 2008. 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 use 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 6 1663778 FMV X 2 186753 FMV X Israel Bond 1 2500 Bond Value false true false Board Member Having a Family Relationship with Another Board Member 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: $(742,507) 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