2012-04-09T12:48:47-04:00 2011-05-31 KPMG LLP 60 South Street Boston MA 02111 990 2010-06-01 042300472 BERKLEE COLLEGE OF MUSIC INC BERK 6177472287 1140 BOYLSTON STREET BOSTON MA 022153693 AMELIA S KOCH 2012-03-07 6179881000 2010 2016-02-24 21:20:13Z ROGER H BROWN 1140 BOYLSTON STREET BOSTON MA 022153693 285765491 false X WWW.BERKLEE.EDU X 1945 MA THE MISSION OF BERKLEE COLLEGE OF MUSIC IS TO EDUCATE, TRAIN, AND DEVELOP STUDENTS TO EXCEL IN MUSIC AS A CAREER. 39 39 2955 0 -29793 -29793 9623255 12621858 167998428 187418795 8623441 16919827 3767103 3804209 190012227 220764689 26458459 29322135 0 0 94584426 100242037 0 0 5790900 63702126 70103902 184745011 199668074 5267216 21096615 384184087 434763657 262641571 267780978 121542516 166982679 THE MISSION OF BERKLEE COLLEGE OF MUSIC IS TO EDUCATE, TRAIN, AND DEVELOP STUDENTS TO EXCEL IN MUSIC AS A CAREER. false false 151390951 29322135 159453850 EDUCATION AND INSTRUCTION: THE PROGRAM IS PROVIDED TO DEVELOP THE SKILLS AND KNOWLEDGE OF STUDENTS SEEKING DEGREES IN MUSIC. THE COLLEGE PROVIDES OUTSTANDING FACULTY AND TEACHING FACILITIES FOR OVER 4,131 STUDENTS FROM THE US AND 80 FOREIGN COUNTRIES. 9615578 12736919 BERKLEE ONLINE: BERKLEE COLLEGE OF MUSIC OFFERS ACCREDITED PROGRAMS IN THE AREAS OF PRODUCTION, GUITAR, SONGWRITING, THEORY, HARMONY AND EAR TRAINING, AND THE MUSIC BUSINESS. CURRENTLY MORE THAN 2,500 STUDENTS PARTICIPATE IN ONLINE LEARNING. 6334474 15228026 AUXILIARY SERVICES: THE COLLEGE HAS RESIDENCE HALL FACILITIES TO PROVIDE HOUSING FOR THOSE STUDENTS THAT CHOOSE TO LIVE AT THE COLLEGE. THE COLLEGE ALSO PROVIDES MEAL PLANS FOR BOTH STUDENTS IN HOUSING AND THOSE COMMUTER STUDENTS THAT CHOOSE THIS PLAN. 167341003 true true false false false false false false true true false false true true true true false true true true false false false true false false false true true true false false false false false true false false false false true false false false false false false false false false true 865 0 true 2955 true true true true SP false false false true false false false false false X 39 39 true false false false false false false true true false false true true true true true true true true false MA X X DANA IVY 6177472287 1140 BOYLSTON ST Boston MA 022153693 DAVID C ABRAMS 1.0 X 0 0 0 LUIS ALVAREZ 1.0 X 0 0 0 FRANCES R BERMANZOHN 1.0 X 0 0 0 ERNIE BOCH JR 1.0 X 0 0 0 PAT CASALE 1.0 X 0 0 0 DAVID CLEM 1.0 X 0 0 0 JOHN CONNAUGHTON 1.0 X 0 0 0 RONALD A CRUTCHER 1.0 X 0 0 0 MICHAEL DREESE 1.0 X 0 0 0 DAVID DYSART 1.0 X 0 0 0 MICHAEL R EISENSON 1.0 X 0 0 0 EDUARDO B GARCIA 1.0 X 0 0 0 DEAN GOODERMOTE 1.0 X 0 0 0 PETER C GOTCHER 1.0 X 0 0 0 CHRISTOPHER GUEST 1.0 X 0 0 0 ELLIOT D HILLBACK 1.0 X 0 0 0 CHARLES HIRSCHHORN 1.0 X 0 0 0 STEVEN H HOLTZMAN 1.0 X 0 0 0 ANN KREIS 1.0 X 0 0 0 SARA LAWRENCE-LIGHTFOOT 1.0 X 0 0 0 WILLIAM J LYNCH 1.0 X 0 0 0 JOHN J MACWILLIAMS 1.0 X 0 0 0 MARC MAYER 1.0 X 0 0 0 KRISTINE MOYER HIGGINS 1.0 X 0 0 0 JAMES J PALLOTA 1.0 X 0 0 0 PHIL RAMONE 1.0 X 0 0 0 CARMICHAEL S ROBERTS 1.0 X 0 0 0 JEFF SHAMES 1.0 X 0 0 0 HOWARD SHORE 1.0 X 0 0 0 PAUL SIMON 1.0 X 0 0 0 GARY SLAIGHT 1.0 X 0 0 0 JANET MARIE SMITH 1.0 X 0 0 0 JEFFREY C WALKER 1.0 X 0 0 0 BILL WHELAN 1.0 X 0 0 0 SUSAN WHITEHEAD 1.0 X 0 0 0 LEWIS T WILLIAMS 1.0 X 0 0 0 MARC WILLIS 1.0 X 0 0 0 ANN MARIE WILKINS 1.0 X 0 0 0 ROGER H BROWN 35.0 X X 554938 0 87201 RICHARD HISEY 35.0 X 45451 0 20059 AMELIA S KOCH 35.0 X 195406 0 50779 DAVID KUSEK 35.0 X 810189 0 170911 STEVEN LIPMAN 35.0 X 314102 0 41331 DAVID S MASH 35.0 X 257294 0 51881 DAVID MCKAY 35.0 X 503344 0 115571 LAWRENCE J SIMPSON 35.0 X 259581 0 58936 DAVID R HORNFISCHER 10.0 X 100378 0 0 3040683 0 596669 143 true true false ARAMARK SERVICES INC 1057 SOLUTIONS CENTER CHICAGO IL 60677 FOOD SERVICES 3213307 LONGWOOD SECURITY SERVICES INC 2 BROOKLINE PLACE SUITE 203 BROOKLINE MA 02445 SECURITY SERVICES 1963965 WILLIAM RAWN ASSOCIATES 10 POST OFFICE SQUARE SUITE 1010 BOSTON MA 02109 CONSULTING 649025 XEROX CORPORATION PO BOX 827598 PHILADELPHIA PA 19182 COPYING SERVICES 645235 ALLEN GERRITSEN 311 ARSENAL STREET WATERTOWN MA 02472 ADVERTISING SERVICES 631551 80 1024918 11596940 552807 12621858 TUITION & FEES 611710 153917448 153917448 ROOM & BOARD 721310 15228026 15228026 BERKLEE ONLINE 611710 12736919 12736919 PERFORMANCE CENTER 611710 538135 538135 BLPP 611710 4998267 4998267 187418795 1392087 -29793 1421880 0 0 1752899 0 1752899 0 1752899 1752899 80199567 14496 64686323 15513244 14496 15527740 15527740 1245273 314479 930794 930794 0 0 0 INTEREST INCOME NON-SECURITIES 900099 53725 53725 BOOKSTORE 451211 431801 431801 CAPS 900099 547735 547735 87255 87255 1120516 220764689 189171694 -29793 19000930 0 29322135 29322135 0 0 953834 791886 124788 37160 0 76028932 63123515 9959196 2946221 9173002 7613592 1192490 366920 8534534 7083663 1109489 341382 5551735 4607940 721726 222069 2158354 2158354 583756 29543 554213 171605 171605 0 0 0 1810829 1413924 340914 55991 2478038 1851184 480954 145900 5773212 3701909 1741412 329891 3664148 744460 2919688 1127315 1127315 12812296 12464677 347619 1567665 1044432 302247 220986 0 475068 299830 126380 48858 8269113 6699858 1288147 281108 0 9129064 7396614 1422108 310342 1496218 1496218 COST OF GOODS SOLD 4390136 4390136 COST OF MEALS 2901490 2857364 44126 FACILITATOR FEES 2293408 2239245 54163 EVENT EXPENSE 1728241 1162721 326258 239262 AUDITIONING 670999 670999 6602947 4545707 1866593 190647 199668074 167341003 26536171 5790900 18356575 21984068 4033721 6918838 533012 560785 595867 620188 5249699 5096868 227163485 100571161 123529330 126592324 203752923 248718071 28132960 24272515 384184087 434763657 53196026 58358061 17545692 20803859 172039496 168949331 17290000 17035735 2570357 2633992 262641571 267780978 X 89793303 125997232 12980554 20116068 18768659 20869379 121542516 166982679 384184087 434763657 X 21096615 24343548 X false true true X true true X false false false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 203752923 11547566 43803761 10386179 248718071 176725144 9073625 28336582 10382428 203752923 231755589 9428504 -55485620 8973329 176725144 0.90258 0.07761 0.01981 false false 18270364 18270364 147561693 63750594 83811099 13273230 7316497 5956733 35186980 25191609 9995371 12871218 4312461 8558757 126592324 OTHER ASSETS 8956462 DEPOSIT WITH BOND TRUSTEES 15316053 24272515 0 REFUNDABLE ADVANCES - U.S. GOV 2633992 2633992 220764689 199668074 21096615 26898430 -2554882 24343548 45440163 247977598 26898430 26898430 221079168 -314479 -314479 220764689 202537435 2869361 2869361 199668074 199668074 ENDOWMENT FUNDS PART V, LINE 4 ENDOWMENT ASSETS ARE INTENDED TO PROVIDE A SOURCE OF INCOME FOR CURRENT OPERATIONS AND SCHOLARSHIPS WITHIN LEGAL SPENDING LIMITS. PERMANENT RESTRICTED ASSETS MUST BE HELD IN PERPETUITY. TEMPORARY RESTRICTED ASSETS ARE HELD FOR DONOR SPECIFIED TIME OR PURPOSE. LIABILITY FOR UNCERTAIN TAX POSITIONS UNDER FIN 48 (ASC 740) PART X, LINE 2 THE COLLEGE BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. OTHER ADJUSTMENTS TO NET ASSETS PART XI, LINE 8 NONOPERATING ADJUSTMENTS FOR PENSION OBLIGATION (2,554,882) OTHER REVENUE INCLUDED ON RETURN BUT NOT IN BOOKS PART XII, LINE 4B RECLASS OF FUNDRAISING EXPENSE (314,479) OTHER EXPENSES INCLUDED IN BOOKS BUT NOT ON RETURN PART XIII, LINE 2D RECLASS OF FUNDRAISING EXPENSE 314,479 NONOPERATING ADJUSTMENTS FOR PENSION OBLIGATION 2,554,882 TOTAL 2,869,361 true true true true true true true false false false false false false false false true false true PUBLICIZE NONDISCRIMINATORY POLICY LINE 3 THE COLLEGE'S POLICY OF NONDISCRIMINATION IS PUBLISHED IN ALL COLLEGE CATALOGUES AND BROCHURES, AS WELL AS ALL EMPLOYMENT ADVERTISEMENTS. FINANCIAL AID OR ASSISTANCE LINE 6A THE COLLEGE RECEIVES FEDERAL AND STATE STUDENT FINANCIAL AID AUTHORIZED BY STUDENT LOAN PROGRAMS. Europe (Including Iceland and Greenland) 2 3 Program Services NEW CAMPUS 976011 Europe (Including Iceland and Greenland) 0 0 Program Services STUDY ABROAD 794760 Central America and the Caribbean 0 0 Investments 26490195 2 3 2 3 28260966 28260966 true false false false true false ACTIVITY PER REGION PART I, LINE 3 THE ACTIVITY CONDUCTED IN SPAIN IS MANAGEMENT FOR THE INITIAL SET-UP OF A NEW CAMPUS FOR PROGRAM SERVICES IN THE FUTURE. GALA CITY MUSIC 1245273 1245273 210768 38000 65711 0 1245273 1245273 210768 38000 65711 314479 930794 true INTERNALLY FUNDED SCHOLARSHIPS 2359 25347642 FMV EXTERNALLY FUNDED SCHOLARSHIPS 137 3040677 FMV MASSACHUSETTS STATE SCHOLARSHIPS 165 157150 FMV SEOG FINANCIAL AID 329 411313 FMV COLLEGE WORK STUDY - PAYROLL 364 365353 FMV ORGANIZATION'S PROCEDURE FOR MONITORING THE USE OF GRANT FUNDS PART I, LINE 2 THE COLLEGE'S OFFICE OF FINANCIAL AID IS RESPONSIBLE FOR AWARDING AND MONITORING ALL FEDERAL AND STATE GRANT ASSISTANCE. STUDENTS APPLY FOR FINANCIAL AID BY COMPLETING A FAFSA FORM WHICH CAPTURES THE DATA REQUIRED DETERMINING ELIGIBILITY BASED ON FEDERAL AND/OR STATE REGULATIONS. DOCUMENTATION TO SUPPORT ELIGIBILITY IS KEPT FOR EACH INDIVIDUAL STUDENT ON FILE IN THE FINANCIAL AID OFFICE. WHEN FUNDS ARE AWARDED, STUDENT ELIGIBILITY IS MONITORED THROUGH THE COLLEGE'S OPERATIONAL SYSTEM AID MODULE TO ENSURE THERE ARE NO CHANGES IN STATUS THAT MIGHT AFFECT THEIR ONGOING ELIGIBILITY. TOTAL GRANT FUNDS AWARDED ARE TRACKED TO ENSURE COMPLIANCE WITH AUTHORIZED AMOUNTS FROM THE FUNDING AGENCY. THE COLLEGE ALSO IS REQUIRED TO SUBMIT TO AN ANNUAL INDEPENDENT A-133 AUDIT TO ENSURE COMPLIANCE WITH ALL FEDERAL REGULATIONS FOR GRANT ASSISTANCE. THE COLLEGE SCHOLARSHIP OFFICE IS RESPONSIBLE FOR AWARDING AND MONITORING ALL INSTITUTIONAL GRANT ASSISTANCE. STUDENTS APPLY FOR SCHOLARSHIP AID BY COMPLETING AN INTERNAL AID FORM WHICH CAPTURES THE DATA REQUIRED TO DETERMINE ELIGIBILITY BASED ON INSTITUTIONAL GUIDELINES. DOCUMENTATION TO SUPPORT ELIGIBILITY IS KEPT FOR EACH INDIVIDUAL STUDENT ON FILE IN THE SCHOLARSHIP OFFICE. WHEN FUNDS ARE AWARDED, STUDENT ELIGIBILITY IS MONITORED THROUGH THE COLLEGE'S OPERATIONAL SYSTEM SCHOLARSHIP MODULE TO ENSURE THERE ARE NO CHANGES IN STATUS THAT MIGHT AFFECT THEIR ONGOING ELIGIBILITY. TOTAL GRANT FUNDS AWARDED ARE TRACKED TO ENSURE COMPLIANCE WITH BUDGETED AMOUNTS. THE SCHOLARSHIP OFFICE REVIEWS ALL AWARDS EACH SEMESTER TO DETERMINE THAT THE STUDENT IS STILL ELIGIBLE FOR THE GRANT. X X X X true true X X X X true true false false false true false false false ROGER H BROWN 371537 0 79150 0 104251 0 62893 0 24308 0 642139 0 0 0 AMELIA S KOCH 182075 0 9310 0 4021 0 46393 0 4386 0 246185 0 0 0 DAVID KUSEK 290411 0 41722 0 478056 0 148404 0 22507 0 981100 0 0 0 STEVEN LIPMAN 98134 0 0 0 215968 0 34804 0 6527 0 355433 0 0 0 DAVID S MASH 230822 0 11930 0 14542 0 35873 0 16008 0 309175 0 0 0 DAVID MCKAY 208341 0 4150 0 290853 0 100339 0 15232 0 618915 0 0 0 LAWRENCE J SIMPSON 238112 0 12220 0 9249 0 48438 0 10498 0 318517 0 0 0 DAVID R HORNFISCHER 100378 0 0 0 0 0 0 0 0 0 100378 0 0 0 BENEFITS PART I, LINE 1A THESE BENEFITS ARE PROVIDED ONLY TO THE PRESIDENT AND ARE INCLUDED AS TAXABLE COMPENSATION ON HIS FORM W-2. SEVERANCE PAYMENT PART I, LINE 4A STEVEN LIPMAN RECEIVED A SEVERANCE PAYMENT OF $44,706. SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN PART I, LINE 4B STEVEN LIPMAN, DAVID KUSEK, AND DAVID MCKAY PARTICIPATED IN A NONQUALIFIED SUPPLEMENTAL RETIREMENT PLAN. THESE INDIVIDUALS RECEIVED THE FOLLOWING PAYMENTS: STEVEN LIPMAN $145,923 DAVID KUSEK $469,545 DAVID MCKAY $284,924 COMPENSATION CONTINGENT ON NET EARNINGS PART I, LINE 6A THE BONUS PAYMENT RECEIVED BY THIS REPORTABLE INDIVIDUAL WAS, IN PART DETERMINED BY THE FINANCIAL RESULTS OF THE EDUCATIONAL UNIT HE LEADS. NUMEROUS OTHER QUALITATIVE AND QUANTITATIVE MEASURES WERE ALSO EVALUATED IN DETERMINING THIS BONUS PAYMENT. BOTH THE QUANTITATIVE AND QUALITATIVE METRICS USED WERE DEFINED AND AGREED UPON IN CONSULTATION WITH THE COLLEGE'S PRESIDENT. THE BONUS IS REPORTED ON THE INDIVIDUAL'S W-2 TO THE INTERNAL REVENUE SERVICE AND IS INCLUDED IN TAXABLE COMPENSATION. COMPENSATION DISCLOSURE PART II PART II, COLUMNS B (I), B(II) AND B(III) REPORT THE BREAKDOWN OF COMPENSATION AS REPORTED ON INDIVIDUAL W-2S AND/OR 1099-MISC FORMS FOR CALENDAR YEAR 2010. COLUMN B(I): REPORTS BASE COMPENSATION COLUMN B(II): REPORTS ANY BONUSES COLUMN B(III): REPORTS OTHER TAXABLE COMPENSATION SUCH AS LUMP SUM PAYMENTS FROM CERTAIN DEFINED BENEFIT PLANS, TAXABLE REIMBURSEMENTS, ALLOWANCES, ETC. COLUMN C: REPORTS DEFERRALS UNDER CERTAIN RETIREMENT PLANS INCLUDING EMPLOYEE AND EMPLOYER 403B CONTRIBUTIONS AND INCREASES IN THE VALUE OF DEFINED BENEFIT PLANS. COLUMN D: REPORTS NONTAXABLE BENEFITS SUCH AS MEDICAL REIMBURSEMENT PROGRAMS, LIFE INSURANCE, DISABILITY BENEFITS AND EDUCATIONAL ASSISTANCE. THESE ARE STANDARD BENEFITS FOR ALL COLLEGE EMPLOYEES. MHEFA REVENUE BONDS SERIES 2007A 042456011 57586CE27 2007-08-08 178014966 SEE SCHEDULE O false false false 173510000 72610864 1235927 79035609 15316053 2012 true false false true false false false false false 0.00007 0.00000 0.00007 true false false false true TRANSAMERICA LIFE 2. true false false LEE BERK DISCRETIONARY LOAN X 1665384 620188 false true true 620188 X MUSICAL INSTRUMENTS 9 22094 COST X MUSIC EQUIPMENT 10 30980 COST X OTHER 8 3690 COST X ACADEMIC SOFTWARE 5 496043 COST false true false ORGANIZATION'S MISSION PART III, LINE 1 *MISSION AND PHILOSOPHY* THE MISSION OF BERKLEE COLLEGE OF MUSIC IS TO EDUCATE, TRAIN, AND DEVELOP STUDENTS TO EXCEL IN MUSIC AS A CAREER. DEVELOPING THE MUSICIANSHIP OF ALL OUR STUDENTS IS THE FOUNDATION OF OUR CURRICULUM. WE BELIEVE THAT THE LESSONS AND QUALITIES DERIVED FROM THAT WORK-THE SELF-DISCIPLINE NEEDED FOR EXCELLENCE, THE EMPATHY REQUIRED OF MUSIC MAKING AND THE OPENNESS AND INQUISITIVENESS ESSENTIAL TO CREATIVITY-ARE CRITICAL TO ACHIEVEMENT IN ANY PURSUIT, MUSICAL OR OTHERWISE; AND THAT MUSIC IS A POWERFUL CATALYST FOR PERSONAL GROWTH, WHICH IS CENTRAL TO ANY COLLEGIATE EXPERIENCE. FOUNDED ON JAZZ AND POPULAR MUSIC ROOTED IN THE AFRICAN CULTURAL DIASPORA, OUR COMPREHENSIVE CURRICULUM IS DISTINCTLY CONTEMPORARY IN ITS CONTENT AND APPROACH, AND EMBRACES THE PRINCIPAL MUSICAL MOVEMENTS OF OUR TIME. THROUGH A COURSE OF SCHOLARLY AND PRACTICAL LEARNING EXPERIENCES INTEGRATING PERFORMANCE AND WRITING, OUR CURRICULUM COVERS THE VARIETY OF INFLUENTIAL STYLES, RELEVANT TECHNOLOGIES, AND CAREER OPPORTUNITIES OPEN TO TODAY'S MUSIC PROFESSIONAL. *OBJECTIVES* TO DEFINE AND REFINE THE INDIVIDUAL TALENTS OF OUR STUDENTS BY PROVIDING A BROAD RANGE OF MAJOR PROGRAMS OFFERED BY A DISTINGUISHED FACULTY, AND TO PREPARE THEM FOR CAREERS IN MUSIC THAT REFLECT THE DIVERSITY OF EXPRESSION AND OPPORTUNITIES THAT DEFINE MUSIC TODAY. TO ENABLE OUR STUDENTS TO EMPLOY THEIR MUSICAL EDUCATION IN A GLOBAL SOCIETY BY PROVIDING A COHERENT LIBERAL ARTS CURRICULUM THAT INFORMS THEIR THINKING ABOUT ISSUES THAT HAVE SHAPED OUR TIME. TO ENCOURAGE OUR STUDENTS TO APPRECIATE AND APPLY MUSIC'S ENORMOUS FORCE FOR THE ENRICHMENT OF SOCIETY AND INTERCULTURAL UNDERSTANDING. TO CULTIVATE A SUPPORTIVE LEARNING ENVIRONMENT BY ACTIVELY PROMOTING A CLIMATE OF RESPECT FOR PERSONAL AND CULTURAL DIFFERENCES, AND BY OFFERING A RANGE OF SERVICES AND ACTIVITIES TO SUPPORT THE NEEDS OF THE STUDENT MUSICIANS WHO COME TO US FROM AROUND THE WORLD. TO MAINTAIN THE VITALITY OF OUR COLLEGE COMMUNITY BY ENCOURAGING AND SUPPORTING CONTINUING PROFESSIONAL DEVELOPMENT FOR ALL OF ITS MEMBERS. TO PROVIDE AN ENVIRONMENT IN WHICH ALL KNOW THAT THEY ARE FULL AND VALUED MEMBERS OF THE COMMUNITY. TO VALUE ETHICAL BEHAVIOR IN ALL ASPECTS OF PERSONAL AND PROFESSIONAL LIFE BY ESTABLISHING A COMMUNITY THAT VALUES INTEGRITY IN ALL RELATIONSHIPS. TO RETAIN OUR LEADERSHIP POSITION IN MUSIC EDUCATION AND TO ENSURE THAT OUR CURRICULUM REMAINS RELEVANT BY PLEDGING TO VALUE ACADEMIC FREEDOM AND INNOVATION. *PHILOSOPHY* BERKLEE WAS FOUNDED ON TWO REVOLUTIONARY IDEAS: THAT MUSICIANSHIP COULD BE TAUGHT THROUGH THE MUSIC OF THE TIME; AND THAT OUR STUDENTS NEED PRACTICAL, PROFESSIONAL SKILLS FOR SUCCESSFUL, SUSTAINABLE MUSIC CAREERS. WHILE OUR BEDROCK PHILOSOPHY HAS NOT CHANGED, THE MUSIC AROUND US HAS AND REQUIRES THAT WE EVOLVE WITH IT. FOR OVER HALF A CENTURY, WE'VE DEMONSTRATED OUR COMMITMENT TO THIS APPROACH BY WHOLEHEARTEDLY EMBRACING CHANGE. WE UPDATE OUR CURRICULUM AND TECHNOLOGY TO MAKE THEM MORE RELEVANT, AND ATTRACT DIVERSE STUDENTS WHO REFLECT THE MULTIPLICITY OF INFLUENCES IN TODAY'S MUSIC. WE PREPARE OUR STUDENTS FOR A LIFETIME OF PROFESSIONAL AND PERSONAL GROWTH THROUGH THE STUDY OF THE ARTS, SCIENCES, AND HUMANITIES. AND WE ARE DEVELOPING NEW INITIATIVES TO REACH AND INFLUENCE AN EVER-WIDENING AUDIENCE. MORE THAN A COLLEGE, BERKLEE HAS BECOME THE WORLD'S SINGULAR LEARNING LAB FOR THE MUSIC OF TODAY-AND TOMORROW. WE ARE A MICROCOSM OF THE MUSIC WORLD, REFLECTING THE INTERPLAY BETWEEN MUSIC AND CULTURE; AN ENVIRONMENT WHERE ASPIRING MUSIC PROFESSIONALS LEARN HOW TO INTEGRATE NEW IDEAS, ADAPT TO CHANGING MUSICAL GENRES, AND SHOWCASE THEIR DISTINCTIVE SKILLS IN AN EVOLVING COMMUNITY. WE ARE AT THE CENTER OF A WIDENING NETWORK OF INDUSTRY PROFESSIONALS WHO USE THEIR OPENNESS, VIRTUOSITY, AND VERSATILITY TO TAKE MUSIC IN SURPRISING NEW DIRECTIONS. FAMILY AND BUSINESS RELATIONSHIPS PART VI, SECTION A, QUESTION 2 SEVERAL TRUSTEES HAVE ENGAGED IN A BUSINESS TRANSACTION WITH ANOTHER TRUSTEE. THESE TRANSACTIONS OCCUR IN THE ORDINARY COURSE OF BUSINESS. TRUSTEE WILLIAM LYNCH EMPLOYS ANOTHER FORMER TRUSTEE, ALAN MCLEAN, IN HIS FIRM. FORM 990 REVIEW PROCESS PART VI, SECTION B, QUESTION 11A THE FORM 990 IS PREPARED BY THE CONTROLLER AND REVIEWED BY THE COLLEGE'S TAX ADVISORS. UPON COMPLETION, THE DRAFT FORM 990 IS DISTRIBUTED TO THE MEMBERS OF THE AUDIT & FISCAL CONTROLS COMMITTEE FOR THEIR REVIEW AND COMMENTS. ONCE THE DRAFT IS APPROVED BY THE COMMITTEE, THE FINAL FORM 990 IS DISTRIBUTED TO THE FULL BOARD. CONFLICT OF INTEREST POLICY PART VI, SECTION B, QUESTION 12C THE PURPOSE OF THE CONFLICTS OF INTEREST POLICY IS TO PROTECT THE COLLEGE'S INTEREST WHEN IT IS ENTERING INTO A TRANSACTION OR ARRANGEMENT THAT MIGHT BENEFIT THE PRIVATE INTEREST OF AN INTERESTED PERSON. AN INTERESTED PERSON IS DEFINED AS ANY PERSON WHO IS OR WAS DURING THE PREVIOUS FIVE YEARS IN A POSITION TO EXERCISE SUBSTANTIAL INFLUENCE OVER THE COLLEGE'S AFFAIRS, INCLUDING ANY TRUSTEE, OFFICER, SUBSTANTIAL DONOR, SENIOR MANAGER OR MEMBER OF A COMMITTEE WITH BOARD-DELEGATED POWERS (EACH A "FIDUCIARY"). IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, A FIDUCIARY WILL DISCLOSE ALL MATERIAL FACTS TO THE PRESIDENT OR CHAIR AT THE EARLIEST POSSIBLE TIME AFTER THE CONFLICT OF INTEREST BECOMES KNOWN TO THE FIDUCIARY. ANY CONFLICT WILL BE MADE A MATTER OF RECORD THROUGH ANNUAL OR OTHER REPORTING AND CERTIFICATION PROCEDURE AS THE TRUSTEES REQUIRE FROM TIME TO TIME. AFTER DISCLOSURE OF THE CONFLICT OF INTEREST AND AFTER ANY DISCUSSION WITH THE RELEVANT FIDUCIARY, THE TRUSTEES SHALL FINALLY DETERMINE WHETHER ANY CONFLICT OF INTEREST EXISTS. IF A CONFLICT OF INTEREST IS DETERMINED TO EXIST, THE TRUSTEES MAY TAKE ACTIONS AS DEFINED IN THE BYLAWS OF THE COLLEGE. COMPENSATION POLICY PART VI, SECTION B, QUESTION 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES, SITTING AS THE COMPENSATION COMMITTEE, HAS THE AUTHORITY TO ESTABLISH FAIR AND APPROPRIATE COMPENSATION PACKAGES TO BE AWARDED TO THE PRESIDENT AND OTHER HIGHLY COMPENSATED ADMINISTRATORS OF THE COLLEGE. IN DETERMINING THE EXECUTIVE COMPENSATION PACKAGES, THE EXECUTIVE COMMITTEE CONSIDERS COMPARATIVE DATA, OBTAINED FROM PUBLISHED SOURCES OR A COMPENSATION CONSULTANT, REFLECTING THE COMPENSATION LEVELS AWARDED TO EQUIVALENTLY SITUATED INDIVIDUALS EMPLOYED BY COMPARABLE INSTITUTIONS. THE EXECUTIVE COMMITTEE REPORTS THE PROCESS AND AWARDING OF COMPENSATION PACKAGES TO THE BOARD OF TRUSTEES. WHEN THE COMPENSATION COMMITTEE IS MEETING, THE PRESIDENT DOES NOT PARTICIPATE. PUBLIC DISCLOSURE PART VI, SECTION C, QUESTION 19 THE COLLEGE MAKES THE DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS AVAILABLE UPON WRITTEN REQUEST. THE COLLEGE'S FORM 990 IS ALSO AVAILABLE ONLINE AT WWW.GUIDESTAR.ORG. OTHER CHANGES IN NET ASSETS PART XI, LINE 5 UNREALIZED GAIN ON INVESTMENTS 26,898,430 PENSION OBLIGATION CHANGES OTHER THAN NET PERIODIC COSTS (2,554,882) TOTAL 24,343,548 PURPOSE OF BOND ISSUES SCHEDULE K, PART I PROCEEDS OF THE BONDS WERE USED AS FOLLOWS: (1) $94,351,662 FOR EQUIPMENT PURCHASES, BUILDING RENOVATIONS, ONLINE COURSE DEVELOPMENT, OTHER BUDGETED CAPITAL EXPENDITURES AT THE COLLEGE'S EXISTING FACILITIES, AND TO ACQUIRE AND RENOVATE ADDITIONAL REAL PROPERTY AND PAY FOR CAMPUS MASTER PLANNING EXPENSES. (2) $9,816,512 TO REPAY A PRIOR LOAN. (3) $72,610,864 TO REFINANCE OUTSTANDING DEBT BONDS ISSUED ON 8/14/97 AND 7/24/03. (4) $1,235,927 TO PAY FOR BOND ISSUANCE COSTS.