2013-04-12T13:36:52-05:00 2012-06-30 GRANT THORNTON LLP ONE CALIFORNIA STREET SUITE 2300 SAN FRANCISCO CA 94111 990 2011-07-01 952501387 The Colburn School % KAREN S LOVETT COLB 2136212200 200 South Grand Avenue Los Angeles CA 90012 Seth Weintraub 2013-04-05 true JOSEPH S DE TRANE 4159863900 2011 2016-02-25 16:41:14Z Sel Kardan 200 South Grand Avenue Los Angeles CA 90012 138759018 false X www.ColburnSchool.edu X 1951 CA The Colburn School provides outstanding performing arts education in an optimum environment. 31 31 339 80 185060 10677215 10999854 8924513 9269122 17503271 5359023 1392840 1532205 38497839 27160204 5479029 5467114 0 0 13067772 14641324 0 60303 1263028 18267124 17469165 36813925 37637906 1683914 -10477702 331903614 312347959 145687960 158432623 186215654 153915336 X THE COLBURN SCHOOL PROVIDES outstanding PERFORMING ARTS EDUCATION IN LOS ANGELES. EXTRACURRICULAR EDUCATION IS PROVIDED TO MORE THAN 2,000 DIVERSE STUDENTS; CONSERVATORY AND ACADEMY MUSIC EDUCATION TO GIFTED PUPIL true false 33494963 5467114 9269122 See Sch O 33494963 true true false false false false false false false true true true false false true true true false true false false false false true true false false false true true true false false false false false false false false false true true false false false false true false false false false true 120 0 true 339 true true true true EI 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 S GRAND AVENUE Los Angeles CA 90012 X Wendy Kelman 1.0 X X 0 0 0 Alice Coulombe 1.0 X X 0 0 0 Eugene Krieger 1.0 X X 0 0 0 Pedro Pizarro 1.0 X X 0 0 0 Tom Leddy 1.0 X 0 0 0 Robert Attiyeh 1.0 X 0 0 0 David Barry 1.0 X 0 0 0 Nancy Griffith Baxter 1.0 X 0 0 0 Bradley H Ellis 1.0 X 0 0 0 Joan Boyett 1.0 X 0 0 0 Dan Clement 1.0 X 0 0 0 Richard W Colburn 1.0 X 0 0 0 Christiane Cuse 1.0 X 0 0 0 Jennifer Diener 1.0 X 0 0 0 Placido Domingo 1.0 X 0 0 0 Robert Egelston 1.0 X 0 0 0 Richard Grant 1.0 X 0 0 0 Aliza Lesser 1.0 X 0 0 0 Carol C Grigor 1.0 X 0 0 0 Catherine C Hogel 1.0 X 0 0 0 Steven Matt 1.0 X 0 0 0 Beverly Ryder 1.0 X 0 0 0 Keith Terasaki 1.0 X 0 0 0 Peter Wardle 1.0 X 0 0 0 Warner H Henry 1.0 X 0 0 0 Robert E Lewis 1.0 X 0 0 0 Daniel L Avchen 1.0 X 0 0 0 Andrew Millstein 1.0 X 0 0 0 Charles C Read 1.0 X 0 0 0 Ann Ronus 1.0 X 0 0 0 Jim Ward 1.0 X 0 0 0 Sel Kardan 40.0 X 347428 0 43028 Seth Weintraub 40.0 X 212688 0 12685 Patrick Morrow 40.0 X 111386 0 7335 Richard Beene 40.0 X 252633 0 27157 Allison Sampson 40.0 X 204732 0 12288 Yehuda Gilad 40.0 X 191889 0 11547 Ory Shihor 40.0 X 204205 0 17436 Ronald Leonard 40.0 X 212294 0 12658 Robert Lipsett 40.0 X 313162 0 23578 John Perry 40.0 X 183231 0 23120 2233648 0 190832 26 false true false Universal Protection Service LP PO Box 101034 PASADENA CA 911891034 Bldg. Security 644868 Facilities Support Services 7112 Sophia Ave VAN NUYS CA 91406 Building Janitorial 487588 Maguire Properties - One Cal Plaza Dept LA 23281 PASADENA CA 911853281 Parking Rents 329802 Angeles Investment Advisors 429 Santa Monica Blvd Ste 650 SANTA MONICA CA 904013424 Investment Mgt. 278608 Grant Thornton LLP PO Box 51552 LOS ANGELES CA 900515852 Audit & Tax 129816 5 679633 6707500 3612721 68011 10999854 TUITION INCOME 900099 8688137 8688137 RENTAL INCOME 531120 580985 580985 9269122 4612162 185060 4427102 0 0 112153197 111406336 746861 746861 746861 37950 679633 192478 -154528 -154528 0 0 CAFE REVENUE 722210 1409830 1409830 OTHER INCOME 900099 149058 149058 FILM SHOOTS 900099 54261 54261 73584 73584 1686733 27160204 9269122 185060 6706168 0 5467114 5467114 0 0 1280509 198779 864061 217669 0 10942359 9713863 648876 579620 365313 321540 19590 24183 1169073 1025373 92306 51394 884070 731581 94821 57668 79014 76468 1797 749 56573 22180 34284 109 211486 111146 95836 4504 0 60303 60303 578009 578009 2138268 1933515 154352 50401 118615 110250 8364 1 549111 481205 27952 39954 120574 102575 7285 10714 0 2065519 2016083 22613 26823 183111 135228 42757 5126 0 26991 15661 8711 2619 3387931 3320173 33879 33879 0 4462826 4373570 44628 44628 451968 442523 4945 4500 INSTRUMENTS 193434 174060 19343 31 EQUIPMENT & FURNITURE 95735 87165 8086 484 SUBSCRIPTION 67654 59349 6322 1983 UBI TAXES 2033 2033 2680313 2575562 59065 45686 37637906 33494963 2879915 1263028 0 0 5838706 5962486 1038998 1526725 0 0 0 0 0 0 0 0 0 0 467598 328635 154656732 30838216 127446414 123818516 133957035 132258965 60204968 46970092 0 0 0 0 2949895 1482540 331903614 312347959 1074794 1450330 0 0 222875 193768 134115000 134115000 0 0 0 0 0 0 0 0 10275291 22673525 145687960 158432623 X 146841021 117003118 6032119 3518093 33342514 33394125 186215654 153915336 331903614 312347959 X -10477702 -21822616 X false true true X false X false false false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 153166240 51611 -2663931 117639 4603953 145832328 121353360 4001 35654999 101241 3744879 153166240 109614631 69543 14835574 3166388 121353360 134666936 7057721 -30297002 1813024 109614631 0.74960 0.22900 0.02140 false true true 138215064 21803734 116411330 869262 349049 520213 7050282 5618299 1431983 8522124 3067134 5454990 123818516 OTHER SECURITIES 46970092 F 46970092 0 INTEREST RATE SWAP AGREEMENT 22673525 22673525 27160204 37637906 -10477702 -7704323 -20268642 -27972965 -38450667 8586637 -7704323 -10289201 -17993524 26580161 580043 580043 27160204 29968662 29968662 580043 7089201 7669244 37637906 Use of Endowment Funds Schedule D, Part V, Question 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 23701-d, 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. 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 there are no uncertain tax positions within its financial statements. There have been no material changes in unrecognized benefits since July 1, 2007, nor are any anticipated in the next 12 months following June 30,2012. 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 2008 through 2011 California 2007 through 2011 Reconciliation of Change in Net Assets Schedule D, Part XI, Question 8 The Colburn Music Fund, a separate, private foundation for tax purposes, files its own tax return. Therefore, it is not included in this return. It is included in the audited financial statements in accordance with Generally Accepted Accounting Principles because it irrevocably benefits the School. For the School's tax return, any Colburn Music Fund transactions appear as reconciling items between audited financial statement amounts and tax return amounts. Unrealized loss on interest rate swap related to bonds: ($12,398,233) Change in interest in Colburn Music Fund: ($2,950,349) Loss on Extinguishment/restructuring of debt: ($1,720,060) Distribution from Colburn Music Fund: ($3,200,000) Total: ($20,268,642) Reconciliation of Revenue to Audited Financial Statements Schedule D, Part XII, Question 2d Expenses from rental activity netted with rental income ($182,561), caf expenses ($1,439,526), Distribution from Colburn Music Fund ($3,200,000), and scholarships ($5,467,114) netted with respective revenue, gains, and other support line item on audited financial statements, but reported as expenses and losses on return. Schedule D, Part XIII, Question 4b Expenses from rental activity netted with rental income ($182,561), caf expenses ($1,439,526), and scholarships ($5,467,114) 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, Question 3 The school annually runs an advertisement in the Los Angeles Times and posts our nondiscriminatory policy on our own website and in our promotional materials. X X X X X X true Charles R Feldstein Co 737 North Michigan Ave Chicago IL 60611 Consulting false 60303 60303 CA Annual Gala 717583 679633 37950 52592 139886 0 717583 679633 37950 52592 139886 192478 -154528 true Conservatory Scholarship 113 4836522 CSPA Scholarship 496 519332 Academy Scholarship 19 111260 Procedures for Monitoring the Use of Grant Funds in the U.S. Schedule I, Part I, Question 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 false X X X false false false false false false false false false Sel Kardan 315011 0 0 0 32417 0 15751 0 27277 0 390456 0 0 0 Seth Weintraub 212688 0 0 0 0 0 10634 0 2051 0 225373 0 0 0 Richard Beene 252633 0 0 0 0 0 12632 0 14525 0 279790 0 0 0 Allison Sampson 204732 0 0 0 0 0 10237 0 2051 0 217020 0 0 0 Yehuda Gilad 191889 0 0 0 0 0 9594 0 1953 0 203436 0 0 0 Ory Shihor 204205 0 0 0 0 0 10210 0 7226 0 221641 0 0 0 Ronald Leonard 212294 0 0 0 0 0 10615 0 2043 0 224952 0 0 0 Robert Lipsett 313162 0 0 0 0 0 15658 0 7920 0 336740 0 0 0 John Perry 183231 0 0 0 0 0 9162 0 13958 0 206351 0 0 0 Questions Regarding Compensation Schedule J, Part I, Question 1b A discretionary spending account in the form of an auto allowance is provided to the president only. The payments are reported as taxable compensation and reported on Form W-2. Schedule J, Part I, Question 1b A housing allowance is provided to the President only. It was pre-approved by the board and is reported on his form W-2 as taxable compensation. Schedule J, Part I, Question 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 does not fall under our accountable plan, and is, therefore, taxed to the President. CIEDB Series 2011 630304653 13033W7N7 2011-10-11 64925000 Refinance of Series 2006A false false false 0 0 64925000 0 0 0 701375 0 0 0 64223625 0 true false true true false true true true false 0.01800 0.01800 true false true false 0 false 0 true false SEE SCHEDULE O 0 CIEDB Series 2008 630304653 13033W6z1 2011-03-01 69190000 Series 2008 ReIssuance false false false 0 0 69190000 0 0 0 544920 0 0 0 68645080 0 true false true true false true true true false 0.01700 0.01700 true false true false 0 false 0 true false SEE SCHEDULE O 0 Wells Fargo Bank SEE PART V SEE PART V false Description of Business Transactions Involving Interested Persons Schedule L, Part IV, Columns B-D Nancy Baxter, a board member of the school, is a senior vice president at Wells Fargo Bank which is a major and key vendor of the school providing loans and other business transactions. She serves at the education and nonprofit division of Wells Fargo Bank where she has no interest, influence, or control over any school business transactions at Wells Fargo Bank. The amount of transaction between the school and Wells Fargo Bank varies as there were multiple transactions that occurred during the year. Additional information is available upon request. X 10 68011 Market Quotation 0 false true true Undertake New Program Service Part III, Question 2 The School began a program aimed at the adult population of Los Angeles called "Adult Studies", designed to provide general music and dance classes. Program Service Activity Part III, Question 4a 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. The Colburn School began a comprehensive curriculum of classes called 'The Academy' in 2011, designed to aid pre-college age students to become well rounded musicians. In 2012, The Colburn School added a program called "Adult Studies" to provide music and dance classes for the adult population of Los Angeles. The Colburn Conservatory of Music began in 2003. Conservatory programs are awarded to qualified students pursuing the highest levels of classical music performance training. Conservatory programs range from two to four years in length and result in either a Bachelors of Music Degree, Performance Diploma, an Artist's Diploma or Professional Studies Certificate. The Conservatory is accredited by the National Association of Schools of Music. Board Member Having a Family Relationship with Another Board Member Part VI, Section A, Question 2 Board Member Catherine Hogel is the daughter of Board Member Carol Colburn Grigor. Board Member Richard W. Colburn is the brother of Carol Colburn Grigor and the Uncle of Catherine Hogel. Form 990 Review Process Part VI, Section B, Question 11b The form 990 is completed annually and reviewed by the CFO with the President and the Audit Committee. Once the CFO, President 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 will sign the return, or the authorization form for electronic filing, and submit by the filing deadline. Written Conflict of Interest Policy Part VI, Section B, Question 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 Part VI, Section B, Question 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 for similarly qualified individuals in functionally comparable positions at similarly situated organizations; 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 Part VI, Section C, Question 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 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 Part XI, Question 5 Unrealized Loss on Interest Rate Swap Related To Bonds: $($12,398,233) Loss on Extinguishment / Restructuring of Debt: ($1,720,060) Net Unrealized Loss on Investment: $(7,704,323) Schedule K, Part I, Column (F) CIEDB Series 2011: The 2006A bond was issued on November 30, 2006. CIEDB Series 2008: The 2008 bonds were issued on December 9, 2008. The 2006B bonds were issued on November 30, 2006. The 2005A and 2005B bonds were issued on March 30, 2005. Procedures to Undertake Corrective Action Schedule K, Part V The Colburn School follows post-bond issuance tax compliance procedures in accordance with Treasury Regulation Section 1.141-12. The school practices a due diligence review and works the BLX Group LLC, a third-party post-issuance compliance firm, to ensure that violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program of which there are none. Currently, there is no written policy that formally outlines the procedures. The school plans to adopt a written policy in 2013. HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Eugene Krieger TITLE:Vice Chairman HOURS:2 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Robert Attiyeh TITLE:Board Member HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Richard W. Colburn TITLE:Board Member HOURS:2 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Robert Egelston TITLE:Board Member HOURS:2 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Carol C. Grigor TITLE:Board Member HOURS:2 Colburn Music Fund 1000 Wilshire Blvd Los Angeles CA 90017 954804766 Private FDN CA 501(c)(3) 08 Colburn schl false Colburn Foundation 1000 Wilshire Blvd 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 Colburn Music Fund c 3200000 Cost Colburn Foundation c 3507500 Cost