2015-02-16T12:24:22-06:00 2014-06-30 010523282 Berry Dunn McNeil & Parker LLC PO Box 1100 Portland ME 041041100 990 2013-07-01 042126597 The Boston Conservatory BOST 6175366340 8 The Fenway Boston MA 02215 Richard Ortner President 6175366340 2015-02-12 1 Barbara J McGuan CPA P00219457 2077752387 2015-02-12 2013 2016-02-25 16:41:14Z Richard Ortner 8 The Fenway Boston MA 02215 40898977 0 X bostonconservatory.edu X 1927 MA Conservatory of music, dance and music theatre 24 23 836 100 0 0 2768573 3406807 33147752 35680143 753917 1029413 -268 113502 36669974 40229865 9036948 9840618 0 0 14504410 15688561 44240 46495 1153251 8878585 9286484 32464183 34862158 4205791 5367707 54997089 71334555 23670945 34845096 31326144 36489459 To educate exceptional performing artists for careers that enrich and transform the human experience by using skills, creativity and courage nourished in our vibrant multi-disciplinary community of musicians, dancers and actors. 0 0 28014620 9840618 35680143 A conservatory of music, dance and music theatre, serving over 750 students, offering degrees of bachelor of music, bachelor of fine arts, and master of music and music education. 28014620 1 1 0 0 0 0 0 0 0 1 1 0 0 1 0 1 0 1 1 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 236 0 1 836 1 0 0 0 0 0 1 1 0 0 0 0 X 24 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 0 0 MA X X Eric Norman VP for Finance and Planning 6175366340 8 The Fenway Boston MA 02215 Alfred D Houston Trustee 1.00 X 0 0 0 Anthony Pangaro Trustee 1.00 X 0 0 0 BJ Krintzman Esq Trustee 1.00 X 0 0 0 Charlotte Prescott Newton Trustee 1.00 X 0 0 0 Christopher D Perry Trustee 1.00 X 0 0 0 Cynthia K Curme Trustee 1.00 X 0 0 0 Darius Sidebotham Trustee 1.00 X 0 0 0 David Kastner Trustee 1.00 X 0 0 0 David Scott Sloan Esq Chairman 1.00 0.20 X X 0 0 0 Davi-Ellen Chabner Trustee 1.00 X 0 0 0 Dr Diana Dohrmann Trustee 1.00 X 0 0 0 Elizabeth Boveroux Trustee 1.00 X 0 0 0 Gail S Flatto Trustee 1.00 X 0 0 0 Gary Mikula Past Trustee 1.00 X 0 0 0 George C White Trustee 1.00 X 0 0 0 Gregory Bulger Treasurer 1.00 0.20 X X 0 0 0 Janet Sharp Kershaw Trustee 1.00 X 0 0 0 Joseph C McNay Trustee 1.00 X 0 0 0 Kelly C McKernan Trustee 1.00 X 0 0 0 Kirk Ramsauer Past Treasurer 1.00 0.20 X X 0 0 0 Laura D Kunkemueller Vice Chair 1.00 0.20 X X 0 0 0 Lyle J Micheli MD Trustee 1.00 X 0 0 0 Marillyn Zacharis Trustee 1.00 X 0 0 0 Mimi Hewlett Trustee 1.00 X 0 0 0 Peter J Wender Trustee 1.00 X 0 0 0 Richard Ortner President 34.80 0.20 X X 347021 0 18199 Joseph Edwards Clerk 35.00 X 95245 0 13369 Eric Norman VP for Finance and Planning 34.80 0.20 X 205732 0 28454 Patricia Hoy VP of Academic Affairs 35.00 0.00 X 175011 0 18082 Neil Donohoe Director of MT 35.00 0.00 X 112278 0 14527 Carmen Griggs VP Adm/Dean of Students 35.00 0.00 X 110864 0 14426 Catherine Young Director of Dance 35.00 0.00 X 102545 0 22083 Robert Xavier Director of IT 35.00 0.00 X 102147 0 22205 1250843 0 151345 15 0 1 0 Shawmut Design & Construction 500 Harrison Ave Boston MA 02218 General Contractor 2451873 Consigli Construction Co 72 Summer Street Milford MA 01757 General Contractor 427227 Longwood Security Services Inc 429 Newbury Street Boston MA 02115 Security 305206 Utile Inc 50 Summer Street Boston MA 02110 Architect 229558 Ellucian Company LP 62578 Collections Center Drive Chicago IL 60693 ERP Consultant 135328 5 261108 3145699 144505 3406807 Tuition and Fees 611110 31304986 31304986 Room & Board 611110 3261254 3261254 Performance & Programs 611110 779611 779611 Miscellaneous Income 900099 334292 334292 35680143 365340 365340 110484 0 110484 110484 110484 1266103 602030 664073 664073 664073 70100 261108 67082 3018 3018 40229865 35680143 0 1142915 9840618 9840618 736909 736909 12319649 10419732 1256976 642941 444032 383652 36687 23693 1277762 1059901 152369 65492 910209 729879 135293 45037 108835 108835 62671 62671 46495 46495 85322 85322 1253340 656591 594749 2000 251526 6857 244584 85 351230 111574 191324 48332 94519 27488 67031 1826100 1303095 523005 277247 239259 25650 12338 440514 440514 1047660 760951 286709 182031 15 182016 Food Services 1346397 1237905 29068 79424 Events 671487 601049 20452 49986 Miscellaneous 562226 344315 182859 35052 Repairs & Maintenance 441268 291739 149488 41 284111 181776 102335 34862158 28014620 5694287 1153251 1928145 4455030 770066 3068992 1630471 1669607 127270 56142 129477 148910 4 13091 169884 109508 19628814 13654259 5931035 5974555 11045390 11816716 390365 376741 32874982 43645263 54997089 71334555 1922905 3874595 1197322 1310786 20500348 24500000 50370 5159715 23670945 34845096 X 25082579 29752169 5375700 5868875 867865 868415 31326144 36489459 54997089 71334555 X 5367707 -109375 -95017 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7858972 3766 493866 104274 8252330 6195050 1152720 511202 7858972 5367232 651040 183278 6500 6195050 5367232 0.89280 0.08560 0.02160 0 0 80161 80161 11812480 8127790 3684690 1164959 871408 293551 5890331 4602277 1288054 680883 52784 628099 5974555 Realty Corporation Receivable 2634503 Leverage Loan Receivable and Interest 22055075 Projects Under Development 18955685 43645263 X Part V, Line 4: A majority of The Conservatory's endowment funds are unrestricted board designated funds. Part X, Line 2: The standards for Accounting for Uncertainty in Income Taxes require the Organization to report any uncertain tax positions and to adjust their consolidated financial statements for the impact thereof. As of June 30, 2014 and 2013, the Organization determined that it had no tax positions that did not meet the "more-likely-than-not" threshold of being sustained by the applicable tax authority. The Organization files tax and information returns in the United States (Federal) and Massachusetts (State)jurisdictions. These returns are generally subject to examination by tax authorities for the last three years. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 See Part II Schedule E, Line 3 The Conservatory included a statement of its racially nondiscriminatory policy regarding students in all brochures and catalogs dealing with student admissions, programs and scholarships. Further, The Conservatory includes a reference to its racially nondiscriminatory policy in other written advertising used as a means of informing prospective students of its programs. Schedule E, Line 6 The Conservatory participates in the student financial assistance programs of the Department of Education and receives funds for the following programs: Federal Direct Student Loans Federal Work Study Federal Supplemental Educational Opportunity Grant Federal Pell Grant Aid from State agencies In addition to the above Federal Financial Aid programs, the Conservatory participates and receives state grants for its students from various states including: Massachusetts Vermont Pennsylvania X X X X X X X 1 Mary Giurleo 5 Polar Bear Drive Westford MA 01886 Grantswriter 0 342625 46495 296130 342625 46495 296130 MA Gala 331208 261108 70100 3680 35776 8908 18718 331208 261108 70100 3680 35776 8908 18718 67082 3018 1 Institutional, Federal, State, Endowed and Other Scholarships 620 0 9840618 FMV Tuition Discounts Part I, Line 2: Federal funds are monitored as follows: The Director of Financial Aid determines student eligibility for Pell, SEOG, FWS, and Federal loans. The Director of Financial Aid posts student awards into the integrated student record system. The Bursar prints and distributes the billing statement which lists Federal awards. The Director of Financial Aid draws down funding from the Federal website. The Director of Financial Aid and Bursar post the Federal funds to the student account in the student record system. The Senior Accountant reviews and posts the journal entry to record the cash receipt in the general ledger. The Director of Finance reviews and reconciles the student accounts receivable and all student related revenue from the general ledger to the billing system. X 1 1 X X X X X 0 0 0 0 0 1 0 1 0 Richard Ortner President 231298 0 70000 0 45723 0 10662 0 7537 0 365220 0 0 0 Eric Norman VP for Finance and Planning 175384 0 25000 0 5348 0 12831 0 15623 0 234186 0 0 0 Patricia Hoy VP of Academic Affairs 174509 0 0 0 502 0 10545 0 7537 0 193093 0 0 0 Part I, Line 1a A housing allowance is provided to the President. The Board of Trustees voted to approve the amount of the housing allowance for the President. The housing allowance is included as part of the President's taxable compensation. Part I, Line 6 On an annual basis the President's bonus is determined by the Compensation Committee, a subgroup of the Board of Trustees, based on the number of goals met during the prior fiscal year. The goals are set by the Compensation Committee at their annual meeting as part of the President's performance review. Approximately $4,200 of the bonus paid in fiscal 2014 was contingent on the net earnings of the Organization in fiscal 2013. Part I, Line 7 See Line 6 explanation for President's bonus. The majority of the bonus paid was not contingent on the revenues or net earnings of the Organization or any related organization. On an annual basis the President, with the approval of the Chairman of the Board of Trustees, approves discretionary bonuses for certain employees. The amounts are based on individual performance and a review of the employee's total compensation. A Massachusetts Industrial Development Financing Authority 043431814 2011-11-23 24500000 Refinance and Construction 0 0 0 A 24500000 380800 9066670 2014 1 0 1 1 A 0 0 0 0 0 0 1 A 0 0 1 0 0 0 0 0 0 A 0 X 8 144505 Fair Market Value 0 1 1 Part I, Line 32b: Contributions of securities are sold through The Conservatory's investment broker. All gifts of securities are sold as soon as administratively possible. Form 990, Part VI, Section B, line 11 The Conservatory's Form 990 is reviewed in detail by both management and the Audit Committee. The Audit Committee has the authority to approve the Form 990 for filing on behalf of the full board. All Trustees receive a copy of the Form 990 prior to filing. Form 990, Part VI, Section B, line 12c The conflict of interest policy was reviewed and approved by the Board of Trustees. The policy applies to all Trustees and Senior Executives of the Boston Conservatory. Each year all Trustees and Senior Executives complete a conflict of interest form which requests information about personal and professional conflict-related activities. The Executive Assistant to the President reviews all completed forms and presents any potential conflicts to the Board Chair and President. To date there have been no conflicts of interest. Therefore, no restrictions have been imposed on any Trustees and Senior Executives. Form 990, Part VI, Section B, line 15a The compensation of the President is determined by a compensation committee of the board, each member of which is independent of the President. Appropriate data including Forms 990 from other organizations and compensation survey or study data is considered. The compensation decision was documented contemporaneously. The President sets the compensation for other officers and key employees. Appropriate data is considered for this purpose. Form 990, Part VI, Section C, line 19 The Boston Conservatory will consider requests for copies of governing documents, conflict of interest policy, and financial statements. Form 990, Part XI, line 9: Write off of Property, Plant & Equipment -95,017. The Boston Conservatory Realty Corp 8 The Fenway Boston MA 02215 263644206 Hold and Manage Real Estate MA 501(c)(3) Line 11A, I The Boston Conservatory 1 The Boston Conservatory Ipswich Realty Corporation 8 The Fenway Boston MA 02215 454795446 Hold and Manage Real Estate MA 501(c)(3) Line 11A, I The Boston Conservatory 1 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 The Boston Conservatory Realty Corp D 2634503 Loan Payable Balance The Boston Conservatory Realty Corp K 333333 Rent Expense Paid