2012-05-14T09:16:47-07:00 2011-06-30 Grant Thornton LLP 226 Causeway St Boston MA 02114 990 2010-07-01 237225104 New England Conservatory of Music NEWE 6175851218 290 Huntington Avenue Boston MA 02115 Edward Lesser 2012-05-14 Laura Kenney 2010 2016-02-24 21:20:13Z 45966736 false false X www.necmusic.edu X 1867 MA New England Conservatory of Music (NEC) educates and trains musicians of all ages from around the world. 29 26 1133 85 -86930 -100273 6609570 6612433 31524722 33645987 -183758 2022004 1231654 1056331 39182188 43336755 10901032 11854307 0 22170690 23155438 22834 119005 2467823 11142011 16745030 44236567 51873780 -5054379 -8537025 155598775 163132651 29211763 29458660 126387012 133673991 X New England Conservatory of Music (NEC) educates and trains musicians of all ages from around the world. false true 31788293 11040883 27183365 Higher Education : College - Programs leading to bachelors degrees, masters degrees, doctoral degrees, and diplomas. (810 students) 6260360 632224 4595384 Continuing Education Programs: School of Preparatory and Continuing Education - Music instruction for children and adults not leading to a specific degree. (2,265 students) 1496117 181200 1867238 Student Services Program, General/Other: Dormitory/Dining - Room and board for residential students. (146 students) 39544770 true true false false false false false true false true true true false false true true true false true false true false false true true false false true true true true false false false false false true false false false true true false false false false false false false false false true 222 0 true 1133 true true true false false false false false false true true false 0 false false false false false false false false false false false X 29 26 false false false false false false false true true false false false true true true true true true true true false false MA X Amanda Gates Controller 6175851218 290 Huntington Avenue Boston MA 02115 Young Lane D 2.00 X 0 0 0 Yogg Joan 2.00 X 0 0 0 Woodcock Anthony 40.00 X X 522138 0 59214 Wolff Hugh 35.00 X 171883 0 28250 Wisneski Frank 2.00 X X 0 0 0 Weilerstein Donald 35.00 X 240405 0 60707 Vaill Timothy 2.00 X 0 0 0 Thonis Michael 2.00 X 0 0 0 Sloan Norton Q 2.00 X 0 0 0 Shattuck Isabel M 2.00 X 0 0 0 Scheer Ruth C 2.00 X 0 0 0 Sallop Linda 2.00 X 0 0 0 Rubin Sally L 2.00 X 0 0 0 Prevost Patrick 2.00 X 0 0 0 Pratt Harold I 2.00 X X 0 0 0 Perry E Lee 2.00 X 0 0 0 Novak Thomas 40.00 X 182173 0 13723 Lesser Laurence 35.00 X 160141 0 13998 Lesser Edward 40.00 X 226672 0 44435 Joni Dr Saj-nicole A 2.00 X 0 0 0 Jones Donald E 40.00 X 203469 0 41185 Hori Shintaro 2.00 X 0 0 0 Holland Nancy Noble 2.00 X 0 0 0 Hodges Eloise 2.00 X 0 0 0 Harcovitz Ruth 2.00 X 0 0 0 Friedlaender JStephen 8.00 X X 0 0 0 Fried Biss Miriam 35.00 X 157608 0 20136 Ferguson Corinne 2.00 X 0 0 0 Ett Alan 2.00 X 0 0 0 Erichsen Peter 2.00 X X 0 0 0 Elfers Deborah B 2.00 X 0 0 0 de Grossmann Morella M 2.00 X 0 0 0 de Braganca Barbara 2.00 X 0 0 0 Buswell James 35.00 X 139036 0 31663 Burnes Kennett F 2.00 X 0 0 0 Braverman Paul 2.00 X 0 0 0 Blumenthal Thomas 2.00 X X 0 0 0 2003525 313311 32 false true false Tishman Construction Corp 84 State St 10th Floor Boston MA 02109 Construction 4206235 CPC EnterprisesInc Aster StationPO Box 230160 Boston MA 02123 Copier & mail mgmt 339849 Beth Israel Deaconess Medical 1309 Beacon St Brookline MA 02446 Medical Service 282530 Aramark Services Inc 1101 Market St Philadelphia PA 19107 Dining hall mgmt 551768 AM-PM Cleaning Corp 295 Weston St Waltham MA 02453 Cleaning service 395414 14 591416 141076 5879941 874015 6612433 Tuition and academic fees 611710 30166676 30166676 Student health insurance 524114 588531 588531 Room and board 721310 1867238 1867238 Non-academic fees 611710 713747 713747 Medical fees 621300 282525 282525 27270 27270 33645987 850206 -86930 937136 140 140 0 758326 394750 363576 363576 363576 3215174 2043516 1171658 1171658 1171658 103000 591416 169801 -66801 -66801 0 12593 21914 -9321 -9321 Parking (employees) 812930 120671 120671 Hall rentals 532000 296876 296876 Concerts and tours 711130 297787 297787 53543 53543 768877 43336755 34294193 -86930 2517059 7500 7500 11846807 11846807 0 0 1325766 197960 869699 258107 0 17894742 15049945 1697307 1147490 515532 443329 41691 30512 2060031 1700786 222649 136596 1359367 1084642 176575 98150 0 57832 33775 21458 2599 101612 3000 98612 0 119005 119005 215466 215466 1510296 830408 623667 56221 172678 15127 156471 1080 1270225 767535 403668 99022 1088897 57912 1030985 0 2069622 645556 1423391 675 1253733 1049434 70019 134280 0 72860 49801 10936 12123 1172374 988779 138106 45489 0 1899173 1564196 93452 241525 0 Student health and food 1355421 1355421 Payroll processing & temp agen 56040 56040 Bad debt/loss 4340150 9564 4330586 Allocation of Building Ops 0 1780969 -1862902 81933 All other expenses 108651 62324 43311 3016 0 51873780 39544770 9861187 2467823 X 1341489 2387928 2611578 2342411 11584224 7563776 400335 176235 500000 500000 0 3521867 3134993 0 393601 358084 61375862 23631323 37671125 37744539 35242786 40261897 62331770 68662788 0 0 0 155598775 163132651 2830204 2818427 642492 530670 21778305 21791878 3960762 4317685 29211763 29458660 X 37100948 38642355 26330192 34743664 62955872 60287972 126387012 133673991 155598775 163132651 X -8537025 15824004 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X false 98406963 2888700 16311430 -2325994 -3015571 -215466 112050062 89613212 2062944 10663132 -1541568 -2188672 -202085 98406963 99875947 3510406 -11417795 -950477 -1163233 -241636 89613212 0.22810 0.75640 0.01550 false false false 1669497 1669497 46937941 15240843 31697098 562864 562864 12205560 8390480 3815080 37744539 10705337 F 68662788 UAS Non-cash Transactions 263 Planned giving liability 770172 Perkins Loan Refundable Advances 3547250 4317685 43336755 51873780 -8537025 15140036 683968 15824004 7286979 43226169 15140036 -15035156 104880 43121289 215466 215466 43336755 35939190 -11452058 -11452058 47391248 215466 4267066 4482532 51873780 Part X Part X : FIN48 Footnote The Conservatory recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. Tax positions for the open tax years as of June 30, 2010 were reviewed, and it was determined that no provision for uncertain tax positions was required as of June 30, 2011 or 2010. Management believes that the Conservatory's income tax returns for fiscal years ending June 30, 2007 and prior are no longer subject to examination by taxing authorities. Part XIII, Line 4b Part XIII, Line 4b: Other revenue amounts included on 990 but not included in F/S Bad debt expense $4267066 Part XI, Line 8 Part XI, Line 8: Other Changes in Net Assets or Fund Balances Planned giving net change $683964 Rounding $4 Part V, Line 4 Part V, Line 4: Intended uses of the endowment fund. Endowment revenue is used to support program-related activities. Part III, Line 4 Part III, Line 4: Description of organization's collections and how it furthers its purpose. NEC's historical instruments are exhibited as art objects on campus and at the Museum of Fine Arts, Boston. NEC's rare books, recordings and letters are part of its library holdings, available for research by NEC students and staff as well as others from the community. Part III, Line 1a Part III, Line 1a: If organization elected under SFAS 116 to not report are, historical treasures, o The Conservatory maintains collections of historical instruments, art, vocal scores, recordings, and literary works. These collections are protected and preserved for public exhibition, education, research, and the furtherance of public service. They are neither disposed of for financial gain nor encumbered in any manner. Accordingly, these collections are not capitalized for financial statement purposes. true true true true true true true false false false false false false false false true false true Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized NEC includes the nondiscrimination policy in brochures, catalogues, and comparable materials dealing with student admissions, programs, and scholarships to satisfy the publicity requirement, given that NEC customarily draws a substantial percentage of its students both nationwide and worldwide. NEC follows this nondiscriminatory policy and has a racially balanced student body. Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental Agency US Dept of Education student grants and loans $7,831,880; US Dept of Education Fund for Improvement of Postsecondary Education $90,804; Commonwealth of Massachusetts Cultural Council $22,060. Russia 0 0 Program services Academic activities 1146 Middle East 0 0 Program services Academic activities 1695 South America 0 0 Fundraising 4087 South America 0 0 Program services Academic activities 45416 N. Amer (Canada & MX) 0 0 Program services Academic activities 3175 Europe 0 0 Program services Academic activities 65952 East Asia & the Pacific 0 0 Fundraising 7353 East Asia & the Pacific 0 0 Program services Academic activities 22258 Central Amer & Caribbean 0 0 Program services Academic activities 629 151711 151711 X true false false true true false X X X X X X X true Wayland Group 323 Boston Post Sudbury MA 01776 Consulting false 119005 119005 MA Boston Gala 694416 591416 103000 5500 99919 2750 61632 694416 591416 103000 5500 99919 2750 61632 169801 -66801 true Commonwealth Shakespeare Co 539 Tremont St Unit 308 Boston MA 02116 042947682 501(c)3 7500 0 Support free performances of plays 1 0 Scholarship and other financial aid 1136 11846807 Grantmaker's Description of How Grants are Used NEC monitored the grant by having staff present for the Commonwealth Shakespeare Company performances for which the grant was provided. Additional Supplemental Information Part I, Line 2: The awarding of student financial aid grants under the U.S. Department of Education's Student Financial Assistance Program is monitored by NEC's Financial Aid Office, which ensures that NEC meets the compliance requirements of OMB Circular A-133. NEC's Financial Aid Office and Business Office are responsible for establishing and maintaining effective internal controls over compliance with the requirements of laws, regulations, contracts, and grants applicable to federal programs.Only current NEC students in good standing are provided scholarship grants or other financial assistance. Grants and assistance to NEC College students are in the form of institutional scholarships. All College scholarships are administered through NEC's financial aid system. Institutional scholarships are credited to the student's internal tuition account and represent an offset to tuition and other fees assessed by NEC.Preparatory program, continuing education program and summer session scholarships are tracked separately and administered through NEC's student billing system. Preparatory program, continuing education program and summer session scholarships are credited to the student's internal tuition account and represent an offset to tuition and other fees assessed by NEC.Grants and assistance to NEC staff and their eligible spouses and dependents are in the form of staff tuition waivers, pursuant to a written benefits plan. Staff tuition waivers are administered through the Conservatory's benefits system and, like institutional scholarships for students, are credited to the individual's internal account to offset tuition changes.All students receiving scholarships and fellowships are judged worthy by the institution's assessment on the basis of academic achievement, financial need and other similar standards. X X true true X X X X X X false true false false false false false false false false Woodcock Anthony 506296 15842 20095 39119 581352 Wolff Hugh 171541 342 8201 20049 200133 Weilerstein Donald 240180 225 8507 52200 301112 Novak Thomas 181831 342 7018 6705 195896 Lesser Laurence 159977 164 7184 6814 174139 Lesser Edward 210830 15842 20495 23940 271107 Jones Donald E 187627 15842 19235 21950 244654 Fried Biss Miriam 157289 319 6978 13158 177744 Buswell James 138750 286 6264 25399 170699 Sch J, Part III, Additional Information Part III, Additional Information The following refers to Part I, Line 4b, Supplemental Nonqualified Retirement Plan. Anthony Woodcock $34,500, Donald Jones $9,500, Edward Lesser $9,500, representing NEC's contributions to a 457(f) plan that vests at a future date and has therefore been deferred for tax purposes. Vesting is contingent upon continued employment; termination would result in forfeiture of unvested 457(f) contributions. Sch J, Part I, Line 1a Part I, Line 1a: Relevant information in regards to selections on 1a. First class travel provided to NEC's President for one leg of a five-leg flight to Asia on NEC business (approximately $1,000). Companion travel provided to the President's wife for train transportation to New York City, air transportation to Phoenix, AZ and Miami, FL, and various meals while on these and other trips, during which she assisted with NEC's fundraising efforts (approximately $1,000 total). These first class and companion travel costs are considered bona fide business expenses and were fully documented and approved under the NEC Travel Policy. Mass Development Fin Agency 043431814 57583RZU2 2008-09-04 21902110 Capital expenditures false false false 22689076 1581484 320927 20038776 2011 false false true true false true true false true true false false false false false true The $786,966 difference between Part I, column (e) and Part II, Line 3 is due to a discount on the bond issue that is being amortized over its 30-year term. This difference will be reduced over the bond term. Anthony Woodcock Mortgage X 500000 500000 false true true 500000 The Baupost GroupLLC Part V below 390960 See Part V below false Schedule L, Part IV, Business Transactions Involving Interested PersonsNEC Board Trustee and Treasurer Thomas W. Blumenthal is an officer and key employee of The Baupost Group, L.L.C. NEC Board Trustee Isabel M. Shattuck is the spouse of an officer and key employee of the The Baupost Group, L.L.C. as well. The Baupost Group, L.L.C. is the manager of Baupost Value Partners L.P. IV, in which NEC is invested. X 33 749015 Fair mkt value X Instruments 3 125000 Qual appraisal 4 false true true Part I, Line 32, Hire and Use of Third Parties UBS is the stock broker to which NEC directs donors who would like to make stock gifts to the organization. UBS accepts and liquidates each stock gift and sends the proceeds to NEC. Car Program Inc. is used by NEC to broker vehicle donations. However, no vehicle donations were received in the current tax year. Form 990, Part VI, Line 19 Form 990, Part VI, Line 19: Other Organization Documents Publicly Available NEC's governing documents, conflict of interest policy, and financial statements are available to the public upon request. Form 990, Part VI, Line 15b Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees The following also refers to Part VI, Line 15a. Officer and key employee compensation is reviewed by the Compensation Committee of the Board of Trustees, which hires an independent compensation consultant periodically to compare officer and key employee compensation against industry data for similarly qualified people, in functionally comparable positions at similar organizations. Officers' and key employees' compensation packages are also approved by the Board of Trustees' Compensation Committee, which is comprised of individuals without any conflicts of interest with respect to the compensation, and the deliberations and decisions are documented contemporaneously as part of the committee's meetings. The process occurred in 2007 for the NEC President, in 2009 for the Senior Vice President of Finance and Operations and the Vice President for Institutional Advancement, and in 2010 for the Dean of the College. The NEC President's compensation was reviewed again by the indepedent compensation consultant in 2011 and will be reviewed by the Compensation Committee in 2012. Form 990, Part VI, Line 12c Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts The conflict of interest policy is distributed to officers, trustees and key employees annually. All of these individuals are required to complete the form for the past fiscal year and disclose any conflicts of interest within the form. The policy also indicates that officers, trustees and key employees are required to make conflict of interest disclosures at any time during the year that they become aware of a conflict of interest. These conflicts are reviewed by the Controller as well as the Audit Committee and disclosed within the annual financial report if material and on Form 990 if they meet the stated IRS thresholds. Individuals who have conflicts of interest or are otherwise not independent from NEC due to a business relationship or receiving compensation from NEC recuse themselves from Board of Trustees votes on matters having to do with their transactions or compensation. Form 990, Part VI, Line 11 Form 990, Part VI, Line 11: Form 990 Review Process In March 2010, NEC's Board of Trustees voted to delegate review and approval of the Form 990 to the Finance Committee. The Finance Committee receives a copy of the draft Form 990 prior to their meeting in mid-November. At the meeting, members of the Finance Committee receive a presentation on the Form 990 from management andprovide input on the Form 990. In addition, NEC has tax advisors from a national accounting firm review the Form 990. Lastly, a final copy of the Form 990 is provided to all Trustees prior to electronically filing the return. Form 990, Part III, Line 3 Form 990, Part III, Line 3: Ceased Conducting or Significant Changes To Services The Research Center for Learning Through Music, which had been reported as an other program expense in prior years, concluded its operations as of June 30, 2010.