2013-05-10T11:35:13-05:00 2012-06-30 KPMG LLP 345 Park Avenue New York NY 101540102 990 2011-07-01 131656667 MANHATTAN SCHOOL OF MUSIC % PAUL KELLEHER MANH 2127492802 120 CLAREMONT AVENUE NEW YORK NY 10027 PAUL KELLEHER 9174934456 2013-04-30 true 2127589700 2011 2016-02-24 21:20:13Z ROBERT SIROTA 120 CLAREMONT AVENUE NEW YORK NY 10027 52880621 false X WWW.MSMNYC.EDU X 1917 NY MANHATTAN SCHOOL OF MUSIC IS A MUSIC CONSERVATORY PROVIDING EDUCATION TO APPROXIMATELY (930) COLLEGE STUDENTS AND (460) PRECOLLEGE STUDENTS. FOR MORE INFORMATION, SEE SCHEDULE O. 21 18 1169 0 11132 9882 5878816 3851162 33499683 39974039 933829 554570 6244133 2704198 46556461 47083969 8052460 8891611 0 0 22083204 23211029 150221 161150 1186376 12551243 11998504 42837128 44262294 3719333 2821675 87634740 88780408 46304736 45503518 41330004 43276890 X MANHATTAN SCHOOL OF MUSIC IS A COLLEGE CONSERVATORY PROVIDING EDUCATION TO APPROXIMATELY (930) COLLEGE STUDENTS AND (460) PRECOLLEGE STUDENTS. FOR MORE INFORMATION, SEE SCHEDULE O. false false 33613355 8891611 30146551 UNDERGRADUATE AND GRADUATE PROGRAMS - MANHATTAN SCHOOL OF MUSIC OFFERS THE FOLLOWING DEGREES, DIPLOMAS AND CERTIFICATES: BACHELOR OF MUSIC (Voice, Instrumental Performance, Jazz, and Composition); MASTER OF MUSIC (Voice, Instrumental Performance, Jazz, Composition, Accompanying, Orchestral Performance, and Contemporary Performance); DOCTOR OF MUSICAL ARTS (Voice, Instrumental Performance, Jazz, Composition, and Accompanying); PROFESSIONAL STUDIES CERTIFICATE AND ARTIST DIPLOMA. 2578964 4547652 PRECOLLEGE PROGRAM - A highly competitive and professional Saturday music program dedicated to the musical and personal growth of talented young musicians ages 5-18. The Precollege enrolls approximately 450 students from around the tri-state area and beyond, under the guidance of some 140 Artist Teachers. Typical program of study includes a 60-minute private lesson, classes in theory and ear training, performance classes including large and small ensembles, and various elective classes. Students can participate in four orchestras, three choirs, and numerous chamber ensembles and jazz ensembles. 554567 847759 SUMMER PROGRAMS - MANHATTAN SCHOOL OF MUSIC OFFERS GIFTED MUSICIANS SUMMER PROGRAMS WHICH ARE UNIQUE IN NEW YORK CITY AND AT THE CONSERVATORY LEVEL NATIONWIDE. FOR MORE INFORMATION ON THE MSM SUMMER VOICE FESTIVAL, MSM SUMMER ENGLISH STUDY AND CAMP MSM, SEE SCHEDULE O. 1146208 253142 37893094 true true false true 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 true false true false false false false false false false false false true 113 0 true 1169 true false false false false false true true false false false false X 21 18 false false false false false false false true true false false true true true true true false true true false NY X PAUL KELLEHER 2127492802 120 CLAREMONT AVENUE NEW YORK NY 10027 CARLA BOSSI-COMELLI 0.1 X 0 0 0 PETER DUCHIN 0.1 X 0 0 0 LINDA CHESIS 0.1 X 65276 0 31819 GLENN DICTEROW 0.1 X 72796 0 0 LORRAINE GALLARD 0.1 X 0 0 0 PAUL B GUENTHER 0.1 X 0 0 0 MARCIA CLAY HAMILTON 0.1 X 0 0 0 THOMAS HAMPSON 0.1 X 0 0 0 BRIAN C MCK HENDERSON 0.1 X 0 0 0 MARTA ISTOMIN 0.1 X 0 0 0 CLAUDE MANN 0.1 X 0 0 0 LINDA MERCURO 0.1 X 0 0 0 WILLIAM R MILLER 0.1 X 0 0 0 NOEMI K NEIDORFF 0.1 X 0 0 0 DAVID A RAHM CHAIR EMER 0.1 X 0 0 0 TED ROSENTHAL 0.1 X 0 0 0 LEONARD SLATKIN 0.1 X 0 0 0 PETER ROBBINS 0.5 X X 0 0 0 LOREN R DOUGLASS 0.5 X X 0 0 0 EDWARD LOWENTHAL 0.5 X X 0 0 0 ROBERT SIROTA 35.0 X X 312792 0 215808 PAUL KELLEHER 35.0 X 206285 0 25307 SUSAN EBERSOLE 35.0 X 180447 0 46126 DAVID GEBER 35.0 X 164065 0 13522 MARJORIE MERRYMAN 35.0 X 159776 0 23914 GARRY DIAL 35.0 X 164884 0 19542 CATHERINE MALFITANO 35.0 X 151115 0 43441 MARK OSWALD 35.0 X 168815 0 12923 MAITLAND PETERS 35.0 X 203938 0 46773 NEIL ROSENSHEIN 35.0 X 199038 0 45287 2049227 0 524462 25 false true false CHARTWELLS PO BOX 91337 CHICAGO IL 60693 FOOD SERVICE 951929 AMERICAN EXPRESS PO BOX 360001 FT LAUDERDALE FL 33336 MISC 718678 PROTECTION PLUS SECURITY SERVICES 535 8TH AVENUE NEW YORK NY 10018 SECURITY 435083 ELITE SERVICE GROUP 40 WEST 27TH STREET 12TH FLOOR NEW YORK NY 10001 CLEANING SERVICE 363781 LANKEY LIMEY LTD 532 W 152ND STREET NEW YORK NY 10031 PRODUCTION/TECH SVC 273946 19 342126 290988 3218048 98826 3851162 TUITION AND FEES 611600 35795104 35795104 AUXILIARY SERVICES 611600 4178935 4178935 39974039 518776 11132 507644 0 0 2794639 2794639 2794639 2794639 5557156 5521362 35794 35794 35794 17809 342126 100106 -82297 -82297 0 0 167040 175184 -8144 -8144 0 47083969 35795104 11132 7426571 0 0 8891611 8891611 0 0 1976431 1276907 519077 180447 0 17143607 15211634 1537080 394893 908026 719733 153323 34970 1864134 1371382 421621 71131 1318831 1086032 197846 34953 0 217040 217040 163930 163930 45300 45300 161150 161150 98033 98033 26839 26839 149025 22105 126920 3807264 2855028 796599 155637 195725 168825 25578 1322 0 2524222 2177303 329873 17046 193595 113919 57943 21733 0 62575 17916 1604 43055 1259553 1086445 164602 8506 0 2403838 2073464 314141 16233 30775 30775 MUSICAL PRODUCTIONS 820790 820790 0 44262294 37893094 5182824 1186376 4769379 7792770 2037 69364 4749940 5278909 0 0 0 0 0 0 944421 961596 0 0 269905 493917 82681646 27011698 57048691 55669948 13188400 10583511 6478223 7756595 0 0 0 0 183744 173798 87634740 88780408 1888208 1978666 0 0 1251159 1685529 41215000 40055000 0 0 0 0 676769 529596 0 0 1273600 1254727 46304736 45503518 X 20226769 21274521 745000 1337260 20358235 20665109 41330004 43276890 87634740 88780408 X 2821675 -874789 X false true true X false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false true 45300 false false 45300 false false 13956270 491932 -291000 436108 13721094 12318912 217343 1420015 13956270 10351726 674218 1292968 12318912 12680530 1271064 -3599868 10351726 1.00000 false false 0 1240000 1240000 0 72893761 21796073 51097688 0 4035087 2255304 1779783 0 4512798 2960321 1552477 55669948 ALTERNATIVE INVESTMENTS 7756595 7756595 0 ASSET RETIREMENT OBLIGATION 712294 US GOVT GRANTS REFUNDABLE 542433 1254727 47083969 44262294 2821675 -874789 -874789 1946886 37495326 -874789 500 -8891611 -9765900 47261226 98033 -275290 -177257 47083969 35548440 500 275290 275790 35272650 98033 8891611 8989644 44262294 ENDOWMENT SCHEDULE D, PART V, LINE 1 THE SCHOOL FOLLOWS THE PROVISIONS OF THE NEW YORK PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT (NYPMIFA) IN MANAGING ITS DONOR-RESTRICTED ENDOWMENT. THE SCHOOL HAS INTERPRETED NYPMIFA AS ALLOWING IT TO APPROPRIATE FOR EXPENDITURE OR ACCUMULATE SO MUCH OF THE DONOR-RESTRICTED ENDOWMENT FUND AS IS PRUDENT FOR THE USES, BENEFITS, PURPOSES, AND DURATION FOR WHICH THE ENDOWMENT FUND IS ESTABLISHED, SUBJECT TO THE INTENT OF THE DONOR AS EXPRESSED IN THE GIFT INSTRUMENT ABSENT EXPLICIT DONOR STIPULATIONS TO THE CONTRARY. THE SCHOOL HAS NO BOARD-DESIGNATED ENDOWMENT FUNDS. THE SCHOOL'S INVESTMENT OBJECTIVE IS TO PROVIDE THAT FUTURE GROWTH OF THE PORTFOLIO IS SUFFICIENT TO OFFSET NORMAL INFLATION PLUS REASONABLE SPENDING, THEREBY PRESERVING THE CONSTANT DOLLAR VALUE AND PURCHASING POWER OF THE ENDOWMENT FUND. THE OBJECTIVE OF THE INVESTMENT PROGRAM IS TO ENHANCE THE PORTFOLIO'S LONG-TERM VIABILITY BY MAXIMIZING THE VALUE OF THE PORTFOLIO WITH PRUDENT LEVEL OF RISK. THE SCHOOL HAS A SPENDING POLICY OF APPROPRIATING FOR DISTRIBUTION EACH YEAR 2.5% TO 4.0% OF THE ENDOWMENT FUND, DEPENDING ON PERFORMANCE OF THE INVESTMENT PORTFOLIO AS WELL AS CONSIDERING THE FACTORS INCLUDED IN NYPMIFA. UNCERTAIN TAX POSITIONS SCHEDULE D, PART X, LINE 2 MANHATTAN SCHOOL OF MUSIC (THE SCHOOL) RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. INCOME GENERATED FROM ACTIVITIES UNRELATED TO THE SCHOOL'S EXEMPT PURPOSE IS SUBJECT TO TAX UNDER INTERNAL REVENUE CODE SECTION 511. THE SCHOOL DID NOT RECOGNIZE ANY UNRELATED BUSINESS INCOME TAX LIABILITY FOR THE YEARS ENDED JUNE 30, 2012 AND 2011. OTHER REVENUES INCLUDED ON LINE 1 NOT INC ON FORM 990, PART VIII, LINE 12 PART XII, LINE 2D SCHOLARSHIPS ($8,891,611) OTHER REVENUES INCLUDED ON FORM 990, PART VIII, LINE 12 NOT INC ON LINE 1 PART XII, LINE 4B FUNDRAISING EVENT EXPENSES $(100,106) COST OF GOODS SOLD $(175,184) ---------- $(275,290) OTHER EXPENSES INCLUDED ON LINE 1 NOT INC ON FORM 990, PART IX, LINE 25 PART XIII, LINE 2D FUNDRAISING EVENT EXPENSES $100,106 COST OF GOODS SOLD $175,184 ---------- $275,290 OTHER EXPENSES INCLUDED ON FORM 990, PART IX, LINE 25 NOT INC ON LINE 1 PART XIII, LINE 4B SCHOLARSHIPS $8,891,611 true true true true true true true false false false false false false false false true false true EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 THE SCHOOL HAS PUBLICIZED ITS POLICY IN ALL OF ITS BROCHURES AND PAMPHLETS IN ADDITION, THEIR POLICY IS PRINTED IN ALL THEIR PRINT & OTHER MEDIA ADVERTISING EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 GOVERNMENT AID IS LIMITED TO AMOUNTS REPORTED ON FORM 990 PART VIII, LINE 1E. THE SCHOOL PARTICIPATES IN THE PERKINS LOAN PROGRAM (LOAN PROGRAM) SPONSORED BY THE U.S. DEPARTMENT OF EDUCATION. FUNDS PROVIDED BY THE U.S. GOVERNMENT UNDER THE PROGRAM ARE LOANED TO QUALIFED STUDENTS AND MAY BE RELOANED AFTER COLLECTION. THESE FUNDS ARE ULTIMATELY REFUNDABLE TO THE U.S. GOVERNMENT. East Asia and the Pacific Investments 3592 North America Investments 4548 Europe (Including Iceland and Greenland) Investments 2958 Central America and the Caribbean Investments 7591739 7602837 14647351 true false true true true false X X X X X X X true COMPREHENSIVE PROSPECT RESEARCH DONOR IDENT IFICATION false 0 76401 -76401 RUBENSTEIN COMMUNICATIONS INC PUBLIC RELATIONS false 0 84749 -84749 0 161150 -161150 NY CONCERT GALA 359935 342126 17809 12620 7120 5862 74504 0 359935 342126 17809 12620 7120 5862 74504 100106 -82297 FUNDRAISING ACTIVITIES SCHEDULE G, PART I, LINE 2 COMPREHENSIVE PROSPECT RESEARCH PROVIDES MANHATTAN SCHOOL OF MUSIC (MSM) WITH LISTS OF FUNDING PROSPECTS FOR PROJECTS IDENTIFIED BY MSM AS IN NEED OF FUNDING. ADDITIONALLY, THEY PROVIDE PROFILES ON THOSE PROSPECTS AS WELL AS OTHERS THAT MSM STAFF NEEDS. THE SCHOOL DOES NOT TRACK FUNDING RECEIVED DIRECTLY AS A RESULT OF THE WORK THAT COMPREHENSIVE PROSPECT RESEARCH CONDUCTS. RUBENSTEIN COMMUNICATIONS PROVIDES PUBLICITY SUPPORT TO THE PUBLIC RELATIONS DEPARTMENT. true SCHOLARSHIPS 503 8891611 SCHOLARSHIP ELIGIBILITY AND RECORD KEEPING SCHEDULE I, PART I, LINE 2 MANHATTAN SCHOOL OF MUSIC AWARDS SCHOLARSHIPs TO APPROXIMATELY 45% OF ITS FULL-TIME ENROLLED STUDENTS. THE MANHATTAN SCHOOL OF MUSIC SCHOLARSHIP IS AWARDED BY THE SCHOLARSHIP COMMITTEE AND IS BASED UPON RECOMMENDATIONS FROM THE FACULTY AT ENTRANCE AUDITIONS AND ANNUAL JURY EXAMINATIONS, ANALYSIS OF FAMILY INCOME, THE ACADEMIC PERFORMANCE OF THE STUDENT, AS WELL AS THE NEEDS OF THE SCHOOL. AMOUNTS RANGE FROM $1000 UP TO FULL TUITION WITH THE AVERAGE AWARD OF ABOUT HALF TUITION. THE PRESIDENT'S AWARD IS AWARDED ON THE SAME BASIS AS ABOVE TO NO-NEED, HIGH-MERIT STUDENTS, WITH AMOUNTS USUALLY RANGING FROM $1000 TO ONE-QUARTER TUITION. DURATION OF SCHOLARSHIP AWARDS IS MOST OFTEN THE STANDARD LENGTH OF THE PROGRAM IN WHICH A STUDENT IS ENROLLED. STUDENTS WISHING AN EXTENSION ON THEIR SCHOLARSHIP AWARD BEYOND THE STANDARD PROGRAM LENGTH MUST PETITION THE SCHOLARSHIP COMMITTEE. REQUESTS WILL BE HANDLED ON A CASE BY CASE BASIS BY THE COMMITTEE. RENEWAL OF SCHOLARSHIPS IS BASED ON SEVERAL ASPECTS OF A STUDENT'S MUSICAL AND ACADEMIC ACHIEVEMENT, AS WELL AS A STUDENT'S CONDUCT IN THE SCHOOL COMMUNITY. WHEN CONSIDERING SCHOLARSHIP RENEWAL, THE SCHOLARSHIP COMMITTEE WILL ENSURE THAT THE STUDENT MEETS THE FOLLOWING REQUIREMENTS: *SIMILAR OR HIGHER COMPOSITE YEAR-END JURY SCORE AS ORIGINALLY AWARDED AT STUDENT'S AUDITION. *MINIMUM 3.0 GPA EACH SEMESTER. *EXEMPLARY PERFORMANCE AND PARTICIPATION IN ALL PERFORMANCE ENSEMBLES, CLASSES AND ADHERENCE TO REQUIRED ATTENDANCE POLICIES. *EXEMPLARY SCHOOL COMMUNITY CONDUCT. THE SCHOLARSHIP COMMITTEE MAY REDUCE THE AWARD OF A STUDENT WHO DOES NOT MEET THESE STANDARDS. ON OCCASION, SCHOLARSHIPS ARE GRANTED TO RETURNING STUDENTS WHO HAVE NOT PREVIOUSLY HAD SCHOLARSHIP OR A SCHOLARSHIP IS INCREASED TO A STUDENT ALREADY RECEIVING SCHOLARSHIP. THIS IS IN RESPONSE TO AN EXCEPTIONAL INCREASE IN JURY SCORES OVER THE AUDITION SCORE IN COMBINATION WITH EXCEPTIONAL ACADEMIC ACHIEVEMENT AND COMMUNITY CONDUCT. IN GENERAL, NO ADDITIONAL SCHOLARSHIP IS AWARDED TO RETURNING STUDENTS. ANALYSIS OF THE COLLEGE BOARD'S PROFILE FORM AND OF THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) IS USED TO DETERMINE ELIGIBILITY FOR INSTITUTIONAL, FEDERAL, AND STATE FUNDS. SCHOLARSHIP AWARDS, RENEWALS, AND NON-RENEWALS ARE AT THE SOLE DISCRETION OF THE ADMINISTRATION OF MANHATTAN SCHOOL OF MUSIC. X true true X X X false false false false false false false false false ROBERT SIROTA 312792 0 0 0 0 0 15461 0 207275 0 535528 0 0 0 PAUL KELLEHER 206285 0 0 0 0 0 16720 0 11855 0 234860 0 0 0 SUSAN EBERSOLE 180447 0 0 0 0 0 15756 0 35907 0 232110 0 0 0 DAVID GEBER 164065 0 0 0 0 0 13522 0 8385 0 185972 0 0 0 MARJORIE MERRYMAN 159776 0 0 0 0 0 13480 0 19155 0 192411 0 0 0 GARRY DIAL 164884 0 0 0 0 0 13196 0 6346 0 184426 0 0 0 CATHERINE MALFITANO 151115 0 0 0 0 0 13071 0 30370 0 194556 0 0 0 MARK OSWALD 168815 0 0 0 0 0 12923 0 0 0 181738 0 0 0 MAITLAND PETERS 203938 0 0 0 0 0 16403 0 30370 0 250711 0 0 0 NEIL ROSENSHEIN 199038 0 0 0 0 0 14917 0 30370 0 244325 0 0 0 HOUSING ALLOWANCE SCHEDULE J, PART I, QUESTION 1 ROBERT SIROTA, SCHOOL PRESIDENT, IS PROVIDED NON-TAXABLE CAMPUS HOUSING AS A CONDITION OF EMPLOYMENT. MR. SIROTA'S DUTIES AND RESPONSIBILITIES REQUIRE HIS SERVICES BE AVAILABLE ON A CONTINUOUS BASIS THROUGHOUT THE YEAR. TRUST FOR CULTURAL RESOURCES OF NYC 911882413 649717PU3 2010-12-10 41215000 REFUNDING REVENUE BOND SERIES 2009 false false false 1160000 0 41215000 0 0 0 188455 0 0 41026545 0 0 2001 true false true true false false false false false false 0 true false false false 0 false 0 false false X DANIEL KELLEHER SON OF OFCR KELLEHER 39563 COMPENSATION false X 2 10379 FMV X MUSICAL EQUIP 5 76196 FMV X OTHER MISC 12 12251 FMV 0 false true false ORGANIZATION'S MISSION FORM 990, PART III, LINE 1 MANHATTAN SCHOOL OF MUSIC (MSM) PREPARES HIGHLY TALENTED STUDENTS FOR CAREERS AS PASSIONATE PERFORMERS AND COMPOSERS, AND AS IMAGINATIVE, EFFECTIVE LEADERS IN THE ARTS. OUR INTERNATIONAL STUDENT BODY THRIVES IN A SUPPORTIVE ATMOSPHERE THAT ENCOURAGES EXCELLENCE, VALUES INDIVIDUALS AND WELCOMES INNOVATION. MSM'S ARTIST FACULTY INSPIRES THE PERFORMANCE, CREATION AND KNOWLEDGE OF GREAT MUSIC, WHILE EXCHANGE PROGRAMS, DISTANCE LEARNING AND ENTREPRENEURIAL OPPORTUNITIES EXPAND THE SCHOOL'S REACH. OFFERING HUNDREDS OF CONCERT PRESENTATIONS AND COMMUNITY EVENTS EACH YEAR, MANHATTAN SCHOOL OF MUSIC IS A VIGOROUS CONTRIBUTOR TO THE CULTURAL FABRIC OF NEW YORK CITY AND AN IMPORTANT PLAYER ON THE WORLD STAGE. PROGRAM SERVICE ACCOMPLISHMENTS - SUMMER PROGRAMS FORM 990, PART III, LINE 4C MSM SUMMER VOICE FESITVAL - The Summer Voice Festival, started in 2009, provides intensive work for singers of college age and older. The four-week program, in the month of June, includes two weekly one-hour lessons with a member of the MSM voice faculty, as well as masterclasses, coachings, and daily classes in diction, acting, movement and other topics of interest for singers. All classes are taught by regular MSM faculty. MSM SUMMER ENGLISH STUDY - Summer English Study is an innovative eight-week immersion program especially designed for students entering MSM in the following fall semester. Through intensive study and interactions with fluent students, SES participants prepare for musicspecific course work as they acclimate more generally to American speech and to life in New York City. CAMP MSM - Set on a college campus in the heart of New York City, Camp MSM is a residential camp (with a day camp option) that provides intensive musical instruction in musical theater and instrumental music for students who have completed grades 6-11 (ages 11-17). Campers will develop their musical skills and join a community of young musicians through a wide variety of musical and social activities. PROGRAM SERVICE ACCOMPLISHMENTS - OTHER FORM 990, PART III, LINE 4D OTHER PROGRAM SERVICE ACCOMPLISHMENTS INCLUDE, BUT ARE NOT LIMITED TO, THE FOLLOWING ACTIVITIES: DISTANCE LEARNING - Manhattan School of Music launched its groundbreaking Distance Learning program in 1996, the first of its kind at a major conservatory. Since then, using state-of-the-art interactive videoconference technology to enhance MSM students' curriculum, we have also developed programs to connect students, educators and distinguished artists around the globe. Additionally, our live webstreamed concerts and master classes, featuring MSM student ensembles and acclaimed faculty, now attract a worldwide audience. MSM Distance Learning's award-winning programs, including the Global Conservatory for higher education, and Music Bridges for K-12 & Community audiences, offer master classes, private instruction, and seminars for music students and educators; standards-based classical and jazz programs for K-12; and a variety of selections for lifelong learners. CENTER FOR MUSIC ENTERPRENEURSHIP - In today's marketplace, musicians need more than artistic excellence: they need the added edge of entrepreneurial skills to create opportunities and build successful, sustainable careers. Focusing on the intersection of artistry and enterprise, the CME spearheads entrepreneurial initiatives that help students and alums become the CEOs of their own successful careers. The CME facilitates the exploration of new career paths, income streams, and business models that are transforming the profession. Tailored to the direct and positive culture of MSM, the CME connects initiatives across departments and curriculum. OUTREACH - Through the Arts-In-Education program, The Manhattan School of Music Arts-in-Education program prepares students to be effective artist-educators by offering pedagogical instruction and practical teaching experience in New York City schools. Our commitment to arts education in New York City remains central to the mission of the School. More than 2,100 New York City schoolchildren participate annually in our outreach program. The Manhattan School of Music Community Engagement program provides students an opportunity to present inspirational and interactive performances to diverse audiences in hospitals, senior living residences, hospices, and other community centers in New York City, sharing the healing power of music as medicine. In many cases, performances are presented to underserved communities and to those who are unable to attend musical performances on their own. Through the program, students are able to expand their performance techniques for diverse audiences in nontraditional concert settings. FORM 990 REVIEW FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM USING INFORMATION PROVIDED BY THE ORGANIZATION'S FINANCE DEPARTMENT. ONCE TOP MANAGEMENT AND THE CFO HAVE REVIEWED THE RETURN, THE FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. CONFLICT OF INTEREST FORM 990, PART VI, SECTION B, LINE 12 C EACH TRUSTEE, OFFICER AND SENIOR STAFF MEMBER OF THE ORGANIZATION ANNUALLY REVIEW POTENTIAL CONFLICTS OF INTEREST AND DISCLOSE TO THE TREASURER OF THE BOARD THE EXISTENCE OF ANY CIRCUMSTANCE NOT PREVIOUSLY DISCLOSED TO THE BOARD WHICH SUCH PERSON REASONABLY BELIEVES TO CONSTITUTE A PRIVATE FINANCIAL INTEREST, TOGETHER WITH ALL RELATED MATERIAL FACTS. ANY DETERMINATION OF A CONFLICT OF INTEREST SHALL BE REPORTED TO THE FULL BOARD OF TRUSTEES AT ITS NEXT REGULAR BOARD MEETING, OR, IF THE TREASURER FEELS IT APPROPRIATE, TO A SPECIAL MEETING OF THE EXECUTIVE COMMITTEE. THE FINANCE COMMITTEE (OR TREASURER) SHALL INCLUDE IN THE REPORT AN ASSESSMENT OF WHETHER THE TRANSACTION OR RELATIONSHIP IS NECESSARY AND APPROPRIATE, WHETHER AN ALTERNATIVE TRANSACTION OR RELATIONSHIP IS AVAILABLE WHICH IS EQUALLY OR MORE ADVANTAGEOUS TO THE SCHOOL, AND ANY OTHER APPROPRIATE STEPS WHICH MIGHT AMELIORATE THE CONFLICT OF INTEREST. DOCUMENT RETENTION AND DESTRUCTION POLICY FOR 990, PART VI, SECTION B, LINE 14 THE ORGANIZATION'S BOARD OF DIRECTORS CURRENTLY HAS AN ARCHIVES AND DOCUMENT RETENTION COMMITTEE; HOWEVER, THE BOARD HAS NOT FORMALLY ADOPTED A SYSTEM-WIDE DOCUMENT RETENTION AND DESTRUCTION POLICY. MANY SCHOOL DEPARTMENTS FOLLOW A CONSISTENT POLICY. OFFICER COMPENSATION FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION PAID TO OFFICERS AND KEY EMPLOYEES (INCLUDING CORPORATE OFFICERS) IS DETERMINED THROUGH A PROCESS WHICH FOLLOWS THE REBUTTABLE PRESUMPTION OF REASONABLENESS STANDARD. THE PRESIDENT, IN CONSULTATION WITH THE BOARD OF TRUSTEES, REVIEWS KEY EMPLOYEE COMPENSATION TO LIKE POSITIONS AT COMPARABLE ORGANIZATIONS TO DETERMINE APPROPRIATE COMPENSATION. THE PRESIDENT'S COMPENSATION IS DETERMINED BY THE EXECUTIVE VICE PRESIDENT OF FINANCE AND THE CHAIR OF THE BOARD, USING COMPARABLITY DATA. COMPENSATION AMOUNTS ARE APPROVED BY THE BOARD AND APPROVAL IS DOCUMENTED IN THE BOARD MINUTES. DOCUMENT DISCLOSURE FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION WILL PROVIDE COPIES OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS TO THE GENERAL PUBLIC UPON WRITTEN REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES FORM 990, PART XI, LINE 5 UNREALIZED LOSSES ON INVESTMENTS $(874,789)