2026-04-08T17:11:12-05:00 2025-05-31 135565207 KPMG LLP 60 SOUTH STREET TWO FINANCIAL CENTER BOSTON MA 02111 990 2024-06-01 042300472 BERKLEE COLLEGE OF MUSIC INC BERK 6177472287 1140 BOYLSTON STREET BOSTON MA 022153693 PAUL S DWORKIS EVP & CFO 6177472287 2026-04-06 1 0 ZELJKO POPOVIC P01795951 6179881000 2024 2025-03-06 01:10:19Z JIM LUCCHESE 1140 BOYLSTON STREET BOSTON MA 022153693 462966283 0 X WWW.BERKLEE.EDU X 1945 MA THE MISSION OF BERKLEE COLLEGE OF MUSIC IS TO EDUCATE, TRAIN, AND DEVELOP STUDENTS TO EXCEL IN THE PERFORMING ARTS. 33 32 5254 39 854629 415334 17431737 16015313 412803864 434575346 1458872 6590676 9754024 3149531 441448497 460330866 110375755 124291650 0 0 228037389 228182706 0 0 2174608 110145573 112195865 448558717 464670221 -7110220 -4339355 953128354 988069581 414861449 396166020 538266905 591903561 X THE MISSION OF BERKLEE COLLEGE OF MUSIC IS TO FOSTER, ENCOURAGE AND PROMOTE THE CULTURE, STUDY, PRACTICE AND TEACHING OF VARIOUS BRANCHES OF MUSIC, THEATER, DANCING AND KINDRED ARTS AND TO CONDUCT A CONSERVATORY FOR INSTRUCTION IN THE VARIOUS BRANCHES OF MUSIC, THEATER, DANCING AND KINDRED ARTS. 0 0 333553937 123355057 361493982 EDUCATION AND INSTRUCTION: THE PROGRAM IS PROVIDED TO DEVELOP THE SKILLS AND KNOWLEDGE OF STUDENTS SEEKING DEGREES IN MUSIC, THEATER, AND DANCE. THE COLLEGE PROVIDES OUTSTANDING FACULTY AND TEACHING FACILITIES FOR OVER 8,369 STUDENTS FROM THE US AND 134 FOREIGN COUNTRIES. THE COLLEGE ALSO OFFERS A NEW WAY FOR ARTISTS AROUND THE WORLD TO JOIN THE GLOBAL MUSIC COMMUNITY-AS PERFORMERS, AS PRACTITIONERS, AND AS LEADERS WITH THE COLLEGE'S FIRST INTERNATIONAL CAMPUS IN VALENCIA. 33940045 208266 38947826 BERKLEE ONLINE OFFERED ACCREDITED DEGREE AND CERTIFICATE PROGRAMS, AS WELL AS INDIVIDUAL COURSES, IN MUSIC PRODUCTION, PERFORMANCE, SONGWRITING, MUSIC BUSINESS, COMPOSITION, ELECTRONIC MUSIC, AND CORE MUSIC STUDIES, SERVING APPROXIMATELY 14,000 STUDENTS. 11768249 728327 33744297 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. 379262231 1 1 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 1 1 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 1427 0 1 5254 1 1 1 1 SP 0 0 0 1 1 0 0 0 0 0 0 X 33 32 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA MA NY X X GAIL WILSON 6172661400 1140 BOYLSTON STREET BOSTON MA 022153693 X JIM LUCCHESE PRESIDENT (BEGINNING 1/25) 40.00 0.00 X X 0 0 0 MARTIN J MANNION CHAIR 2.00 0.00 X 0 0 0 CHARLES ANDERSON TRUSTEE 2.00 0.00 X 0 0 0 LEE BURROWS TRUSTEE (BEGINNING 4/24) 2.00 0.00 X 0 0 0 DAVID CLEM TRUSTEE (END 5/25) 2.00 0.00 X 0 0 0 JOHN CONNAUGHTON TRUSTEE (END 5/25) 2.00 0.00 X 0 0 0 CYNTHIA K CURME TRUSTEE 2.00 0.00 X 0 0 0 KRISTY EDMUNDS TRUSTEE (BEGINNING 10/24) 2.00 0.00 X 0 0 0 EMILIO ESTEFAN TRUSTEE (END 5/25) 2.00 0.00 X 0 0 0 GLORIA ESTEFAN TRUSTEE (END 5/25) 2.00 0.00 X 0 0 0 DAVID FRIEND TRUSTEE (BEGINNING 5/25) 2.00 0.00 X 0 0 0 DAVID GROSS TRUSTEE 2.00 0.00 X 0 0 0 THOMAS H HAGERTY TRUSTEE 2.00 0.00 X 0 0 0 VELINA HASU-HOUSTON TRUSTEE 2.00 0.00 X 0 0 0 MARINA HATSOPOULOS TRUSTEE (BEGINNING 6/24) 2.00 0.00 X 0 0 0 KRISTINE MOYER HIGGINS TRUSTEE (BEGINNING 5/25) 2.00 0.00 X 0 0 0 CARLETTA HIGGINSON TRUSTEE (BEGINNING 5/25) 2.00 0.00 X 0 0 0 STEVEN HOLTZMAN TRUSTEE 2.00 0.00 X 0 0 0 BILL KAISER TRUSTEE 2.00 0.00 X 0 0 0 GRACE KELLY TRUSTEE 2.00 0.00 X 0 0 0 PETER LABBAT TRUSTEE (BEGINNING 4/24) 2.00 0.00 X 0 0 0 MIE KYUNG LEE TRUSTEE (END 5/25) 2.00 0.00 X 0 0 0 HASSELL MCCLELLAN TRUSTEE 2.00 0.00 X 0 0 0 FREDERICK T MILLER TRUSTEE (END 5/25) 2.00 0.00 X 0 0 0 PETER MULLER TRUSTEE (END 11/24) 2.00 0.00 X 0 0 0 ROBERT S MURLEY TRUSTEE 2.00 0.00 X 0 0 0 JIM PALLOTTA TRUSTEE (BEGINNING 5/25) 2.00 0.00 X 0 0 0 ANTHONY PANGARO TRUSTEE 2.00 0.00 X 0 0 0 JEFF PATTERSON TRUSTEE (BEGINNING 5/25) 2.00 0.00 X 0 0 0 JON PLATT TRUSTEE 2.00 0.00 X 0 0 0 SNOW QIN TRUSTEE 2.00 0.00 X 0 0 0 DARIUS SIDEBOTHAM TRUSTEE 2.00 0.00 X 0 0 0 DAVID SCOTT SLOAN TRUSTEE 2.00 0.00 X 0 0 0 ELIZABETH CARILLO THOMAS TRUSTEE 2.00 0.00 X 0 0 0 KATIE VITOLINS TRUSTEE (BEGINNING 4/24) 2.00 0.00 X 0 0 0 PAUL WACHTER TRUSTEE 2.00 0.00 X 0 0 0 TARIK WARD TRUSTEE 2.00 0.00 X 0 0 0 SUSAN WHITEHEAD TRUSTEE 2.00 0.00 X 0 0 0 ANDY YOUNISS TRUSTEE 2.00 0.00 X 0 0 0 MARILLYN ZACHARIS TRUSTEE 2.00 0.00 X 0 0 0 DAVID BOGEN INTERIM PRESIDENT & PROVOST 40.00 0.00 X 577646 0 67085 JOHN CASE INTERIM CFO (END 5/25) 40.00 0.00 X 408403 0 67085 KAITLIN PASSAFARO SECRETARY 40.00 0.00 X 255703 0 23010 PAUL S DWORKIS EVP & CFO (BEGINNING 4/25) 40.00 0.00 X 0 0 0 DEBORAH CAVALIER SENIOR VICE PRESIDENT 40.00 0.00 X 401380 0 48783 ELIZABETH NEWMAN EVP & CHIEF STRATEGY OFFICER 40.00 0.00 X 531568 0 60198 ERIN TUNNICLIFFE SENIOR VICE PRESIDENT (END 1/25) 40.00 0.00 X 415775 0 54520 PHILLIP KNUTEL VP & CHIEF INFORMATION OFFICER 40.00 0.00 X 356028 0 59860 EILEEN ALVITI SENIOR VICE PRESIDENT, HR 40.00 0.00 X 331559 0 42302 RONALD SAVAGE VP & EXECUTIVE DIRECTOR 40.00 0.00 X 290861 0 62583 CLAIRE MACHAMER SENIOR VICE PRESIDENT 40.00 0.00 X 342591 0 65644 ERICA MUHL FORMER PRESIDENT 0.00 0.00 X 1250000 0 50166 5161514 0 601236 467 1 1 0 ARAMARK SERVICES INC 27310 NETWORK PLACE CHICAGO IL 60673 FOOD SERVICES 7821001 ACME BUILDING SERVICES INC 599 NORTH AVENUE SUITE 6 WAKEFIELD MA 01880 CUSTODIAL SERVICES 5662440 GOOGLE INC PO BOX 39000 SAN FRANCISCO CA 94139 ADVERTISING 4824660 META PLATFORMS INC 1 HACKER WY MENLO PARK CA 94025 MARKETING 3098473 TISHMAN CONSTRUCTION CORP OF MASS 1 FEDERAL ST FL 8 BOSTON MA 02110 CONSTRUCTION 2920468 113 1723298 4050573 10241442 1644906 16015313 TUITION & FEES 611710 357842379 357842379 BERKLEE ONLINE 611710 38947826 38947826 ROOM & BOARD 721310 33744297 33744297 GLOBAL INITIATIVES 611710 3069006 3069006 PERFORMANCE CENTER 611710 971838 971838 434575346 5943681 -107483 6051164 3472686 829357 2643329 2643329 343683 2299646 646995 0 646995 646995 618429 28566 130625 1723298 986008 -855383 -855383 430811 820052 -389241 -389241 EVENT & PERFORMANCE 900099 675060 675060 CBS COMMISSIONS 900099 493610 493610 BERKLEE PRESS 900099 221370 221370 360786 360786 1750826 460330866 434186105 854629 9274819 124291650 124291650 2512494 560550 1212293 739651 182594187 137776237 44645399 172551 9474944 32602 9412714 29628 20948889 15698438 4293531 956920 12652192 9664992 2763199 224001 660544 660544 26794 26794 552655 552655 14447 14447 36155111 27825243 8329868 9375415 8873167 502248 3003294 1986918 1016376 10656369 5183993 5455597 16779 2304076 2304076 15298163 13481168 1816995 4286041 3631206 654835 94481 55892 38589 7259000 7247456 11544 15697215 15697215 72109 72109 EVENT EXPENSE 3400508 2410909 974599 15000 COST OF MEALS 1334582 747009 587573 TRAINING 520287 169182 351105 LICENSES & FEES 200828 150770 50058 1283946 771773 492095 20078 464670221 379262231 83233382 2174608 103508450 89721035 5611488 3744620 17502271 19172412 546643422 237194229 302615548 309449193 426384464 496821292 97506133 69161029 953128354 988069581 71820277 67949994 54822043 54052056 230070246 222407700 58148883 51756270 414861449 396166020 X 387467677 441450187 150799228 150453374 538266905 591903561 953128354 988069581 X -4339355 52955896 5020115 X 0 1 X 1 1 1 X 35386001 21086260 16888901 17431737 16015313 106808212 35386001 21086260 16888901 17431737 16015313 106808212 1986048 104822164 2728049 2793803 3442344 4025230 9180167 22169593 1230370 303396 964267 416334 2914367 3867486 3133107 5291498 8549118 2312262 23153471 155045643 1863893532 0.67610 0.68320 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 426384464 5286772 53369872 3314812 16201885 465524411 390021654 3870493 47449951 3352226 11605408 426384464 406592352 3942546 14828565 6422421 28919388 390021654 446633116 4366019 -41093737 2825961 487085 406592352 327571106 20631458 114628364 2460186 13737626 446633116 0.73817 0.18656 0.07527 0 0 56752952 56752952 399381152 185779039 213602113 30467718 13481639 16986079 35963615 27245195 8718420 24077985 10688356 13389629 309449193 OTHER ASSETS 20325676 RIGHT-OF-USE ASSETS 48835353 69161029 LEASE OBLIGATIONS 51756270 51756270 X 521247203 52955896 5339471 58295367 462951836 -2620970 -2620970 460330866 479253569 14466348 14466348 464787221 -117000 -117000 464670221 PART IV, LINE 1B: ESCROW AND CUSTODIAL ARRANGEMENTS BERKLEE COLLEGE OF MUSIC IS 100% OWNER OF BERKLEE COLLEGE OF MUSIC DELEGACION DE LA FUNDACION EN ESPANA. THE COLLEGE MAINTAINS THE BOOKS AND RECORDS FOR THE RELATED ENTITY. PART V, LINE 4: ENDOWMENT FUNDS ENDOWMENT ASSETS ARE INTENDED TO PROVIDE INCOME FOR CURRENT OPERATIONS AND SCHOLARSHIPS WITHIN LEGAL SPENDING LIMITS. PERMANENT RESTRICTED ASSETS MUST BE HELD IN PERPETUITY. PART X, LINE 2: THE COLLEGE IS A TAX-EXEMPT ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE), AND IS GENERALLY EXEMPT FROM TAXES PURSUANT TO SECTION 501(A) OF THE CODE. ACCORDINGLY, IT IS GENERALLY NOT SUBJECT TO INCOME TAXES EXCEPT TO THE EXTENT IT HAS TAXABLE INCOME FROM ACTIVITIES THAT ARE NOT RELATED TO ITS EXEMPT PURPOSE. THE COLLEGE HAS GENERATED UNRELATED BUSINESS INCOME FOR THE YEAR ENDED MAY 31, 2025 BUT IT IS NOT SIGNIFICANT TO THE CONSOLIDATED FINANCIAL STATEMENTS. THE COLLEGE BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: PENSION OBLIGATION CHANGES 5,020,115. BERKLEE COLLEGE OF MUSIC DELEGACION, DE LA FUNDACION EN ESPANA REVENUE 202,356. GILBERT GRANT 117,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASS OF RENTAL EXPENSES -829,357. RECLASS OF FUNDRAISING EXPENSE -986,008. BERKLEE LAPTOP PROGRAM COST OF GOODS SOLD -820,052. INVESTMENT FEES 14,447. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASS OF RENTAL EXPENSES 829,357. RECLASS OF FUNDRAISING EXPENSE 986,008. RECLASS OF BCOM, DELEGACION DE LA FUNDACION EN ESPANA EXPENSES 11,845,378. BERKLEE LAPTOP PROGRAM COST OF GOODS SOLD 820,052. INVESTMENT FEES -14,447. PART XII, LINE 4B - OTHER ADJUSTMENTS: GILBERT GRANT -117,000. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE COLLEGE'S POLICY OF NONDISCRIMINATION IS PUBLISHED IN ALL COLLEGE CATALOGUES AND BROCHURES, ALL EMPLOYMENT ADVERTISEMENTS, AS WELL AS ON THE COLLEGE'S WEBSITE WWW.BERKLEE.EDU. SCHEDULE E, PART I, LINE 6 FINANCIAL AID OR ASSISTANCE THE COLLEGE RECEIVES FEDERAL AND STATE STUDENT FINANCIAL AID IN THE FORM OF GRANTS, LOANS, AND WORK STUDY. EUROPE (INCLUDING ICELAND AND GREENLAND) 1 PROGRAM SERVICES BERKLEE COLLEGE OF MUSIC DELEGACION, DE LA FUNDACION EN ESPANA CAMPUS CENTRAL AMERICA AND THE CARIBBEAN INVESTMENTS 149188622 EAST ASIA AND THE PACIFIC PROGRAM SERVICES STUDY ABROAD 295479 SOUTH ASIA PROGRAM SERVICES STUDY ABROAD 11067 EUROPE (INCLUDING ICELAND AND GREENLAND) PROGRAM SERVICES STUDY ABROAD 992638 MIDDLE EAST AND NORTH AFRICA 1 5 PROGRAM SERVICES STUDY ABROAD 2996308 CENTRAL AMERICA AND THE CARIBBEAN PROGRAM SERVICES STUDY ABROAD 38283 NORTH AMERICA PROGRAM SERVICES STUDY ABROAD 440524 SOUTH AMERICA PROGRAM SERVICES STUDY ABROAD 56663 SUB-SAHARAN AFRICA PROGRAM SERVICES STUDY ABROAD 4174 CENTRAL AMERICA AND THE CARIBBEAN PROGRAM SERVICES BERKLEE ONLINE EUROPE (INCLUDING ICELAND AND GREENLAND) PROGRAM SERVICES BERKLEE ONLINE MIDDLE EAST AND NORTH AFRICA PROGRAM SERVICES BERKLEE ONLINE RUSSIA AND NEIGHBORING STATES PROGRAM SERVICES BERKLEE ONLINE SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, PROGRAM SERVICES BERKLEE ONLINE SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, PROGRAM SERVICES BERKLEE ONLINE SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, PROGRAM SERVICES BERKLEE ONLINE 2 5 0 0 2 5 153962921 60837 154023758 1 0 1 1 1 1 PART I, LINE 3 THE ACTIVITY CONDUCTED IN SPAIN IS MANAGEMENT AND PROGRAM SERVICES, INCLUDING GRADUATE PROGRAMS, AND STUDY ABROAD FOR THE COLLEGE'S FIRST INTERNATIONAL CAMPUS. THE BERKLEE COLLEGE OF MUSIC DELEGACION, DE LA FUNDACION EN ESPANA CAMPUS HAS 117 EMPLOYEES. GALA - BCM 1262445 1171820 90625 25600 172609 301873 SOIREE - BCB 591478 551478 40000 16287 107327 362312 1853923 1723298 130625 41887 279936 664185 986008 -855383 1 INTERNAL SCHOLARSHIPS 5053 113487030 EXTERNAL SCHOLARSHIPS 834 9384075 FEDERAL WORK STUDY 289 561061 MASSACHUSETTS STATE SCHOLARSHIPS 183 117000 SEOG FINANCIAL AID AWARDS 612 742484 PART I, LINE 2: ORGANIZATION'S PROCEDURE FOR MONITORING THE USE OF GRANT FUNDS 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 AN ANNUAL INDEPENDENT A-133 AUDIT TO ENSURE COMPLIANCE WITH ALL FEDERAL REGULATIONS FOR GRANT ASSISTANCE. THE SCHOLARSHIP OFFICE IS RESPONSIBLE FOR AWARDING AND MONITORING ALL INSTITUTIONAL SCHOLARSHIP ASSISTANCE. CONTINUING STUDENTS APPLY FOR SCHOLARSHIP AID BY COMPLETING A SCHOLARSHIP APPLICATION FORM WHICH CAPTURES THE DATA REQUIRED TO DETERMINE ELIGIBILITY BASED ON INSTITUTIONAL GUIDELINES. ENTERING STUDENTS ARE AUTOMATICALLY CONSIDERED FOR SCHOLARSHIP BASED ON THE COLLEGE'S AUDITION AND INTERVIEW PROCESS. 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 SCHOLARSHIP 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 SCHOLARSHIP. X X 1 1 X X X X X 1 0 0 0 0 0 0 1 0 ERICA MUHL FORMER PRESIDENT 0 0 0 0 1250000 0 29700 0 20466 0 1300166 0 0 0 DAVID BOGEN INTERIM PRESIDENT & PROVOST 483233 0 60000 0 34413 0 31050 0 36035 0 644731 0 0 0 ELIZABETH NEWMAN EVP & CHIEF STRATEGY OFFICER 470578 0 60000 0 990 0 31050 0 29148 0 591766 0 0 0 JOHN CASE INTERIM CFO (END 5/25) 407388 0 0 0 1015 0 31050 0 36035 0 475488 0 0 0 ERIN TUNNICLIFFE SENIOR VICE PRESIDENT (END 1/25) 366273 0 37132 0 12370 0 31050 0 23470 0 470295 0 0 0 DEBORAH CAVALIER SENIOR VICE PRESIDENT 357836 0 43285 0 259 0 31050 0 17733 0 450163 0 0 0 PHILLIP KNUTEL VP & CHIEF INFORMATION OFFICER 331466 0 23393 0 1169 0 54050 0 5810 0 415888 0 0 0 CLAIRE MACHAMER SENIOR VICE PRESIDENT 309490 0 31930 0 1171 0 31050 0 34594 0 408235 0 0 0 EILEEN ALVITI SENIOR VICE PRESIDENT, HR 294701 0 35597 0 1261 0 30238 0 12064 0 373861 0 0 0 RONALD SAVAGE VP & EXECUTIVE DIRECTOR 265776 0 24826 0 259 0 26548 0 36035 0 353444 0 0 0 KAITLIN PASSAFARO SECRETARY 239088 0 16583 0 32 0 23010 0 0 0 278713 0 0 0 PART I, LINE 1A BENEFITS HEALTH/WELLNESS EXPENSES ARE REIMBURSED TO MEMBERS OF THE PRESIDENT'S COUNCIL UNDER AN EXECUTIVE WELLNESS REIMBURSEMENT PROGRAM. THIS INCLUDES THE SENIOR VICE PRESIDENTS AND VICE PRESIDENTS REPORTED IN FORM 990 PART VII. THE AMOUNTS ARE INCLUDED AS TAXABLE COMPENSATION IN EACH INDIVIDUAL'S FORM W-2. HOUSING ALLOWANCE DAVID BOGEN RECEIVED A RELOCATION/HOUSING ALLOWANCE. THE AMOUNTS ARE INCLUDED AS TAXABLE COMPENSATION IN EACH INDIVIDUAL'S FORM W-2. PART I, LINE 4A DURING THE CALENDAR YEAR 2024, ERICA MUHL RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $1,250,000. THIS AMOUNT IS REPORTED IN PART II, COLUMN B(III). PART I, LINE 7 NON-FIXED PAYMENTS PERFORMANCE BONUS AMOUNTS ARE REWARDED AT THE DISCRETION OF THE PRESIDENT AND REVIEWED AND ENDORSED BY THE EXECUTIVE COMMITTEE OF THE BOARD. THE BONUSES ARE COMPARED AGAINST MARKET DATA. A MDFA REVENUE BONDS SERIES 2016 043431814 57584XUU3 2016-08-01 182938090 REFUND SERIES 2007A/2013 BOCO DEBT 0 0 0 A 33401882 182938090 234313 1009048 27018542 154676187 2016 1 1 1 1 A 0 1 1 1 0 0.00910 0.00910 0 0 1 A 0 0 0 1 0 0 0 0 1 A 1 PART IV LINE 2C REBATE COMPUTATION DATE NO REBATE IS DUE ON THE BOND ISSUES. THE COMPUTATION DATES WERE AS FOLLOWS: BOND ISSUE A: 06/07/2023 X 5369 1510207 FMV X MUSICAL EQUIPMENT 251 134699 FMV 0 1 0 PART I, COLUMN (B): CONTRIBUTIONS THE ORGANIZATION IS REPORTING THE NUMBER OF ITEMS RECEIVED. FORM 990, PART VI, SECTION A, LINE 2 FAMILY RELATIONSHIPS EMILIO ESTEFAN AND GLORIA ESTEFAN HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS THE FORM 990 IS PREPARED AND REVIEWED BY THE CONTROLLER'S OFFICE AND REVIEWED BY THE COLLEGE'S TAX ADVISORS. UPON COMPLETION, THE DRAFT FORM 990 IS DISTRIBUTED TO THE MEMBERS OF THE AUDIT & RISK COMMITTEE FOR THEIR REVIEW AND COMMENTS. ONCE THE DRAFT HAS BEEN REVIEWED BY THE COMMITTEE, THE FINAL FORM 990 IS DISTRIBUTED TO THE FULL BOARD PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY 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, KEY EMPLOYEE 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. IF A CONFLICT IS DETERMINED TO EXIST, THOSE WITH A CONFLICT OF INTEREST SHALL LEAVE THE MEETING DURING DISCUSSION OF ANY PROPOSED RELATIONSHIP IN WHICH THEY HAVE AN INTEREST. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION POLICY 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. THE PROCESS FOR DETERMINING THE COMPENSATION OF BERKLEE COLLEGE OF MUSIC'S TOP MANAGEMENT OFFICIALS, INCLUDING THE PRESIDENT AND OTHER HIGHLY COMPENSATED ADMINISTRATORS OF THE COLLEGE, MEETS THE THREE REQUIREMENTS OF THE REBUTTABLE PRESUMPTION PROVISIONS UNDER TREAS. REG. 53.4958-6. DETERMINATIONS AND DELIBERATIONS REGARDING COMPENSATION ARE DOCUMENTED IN THE INDIVIDUALS PERSONNEL FILE IN HUMAN RESOURCES AND ALSO DOCUMENTED IN THE EXECUTIVE COMMITTEE BOARD MINUTES. FORM 990, PART VI, LINE 16B JOINT VENTURES BERKLEE COLLEGE OF MUSIC REVIEWS ITS PARTICIPATION IN JOINT VENTURE ARRANGEMENTS TO SAFEGUARD AND PROTECT ITS EXEMPT STATUS AND RETAINS LEGAL AND TAX ADVISORS AS NECESSARY. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC DISCLOSURES THE COLLEGE MAKES THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON WRITTEN REQUEST. THE COLLEGE'S FORM 990 IS ALSO AVAILABLE ONLINE AT WWW.GUIDESTAR.ORG AND ON THE MASSACHUSETTS ATTORNEY GENERAL WEBSITE. FORM 990, PART VII THE REDUCTION IN THE NUMBER OF KEY EMPLOYEES REPORTED ON PART VII IS DUE TO THE APPLICATION OF THE FORM 990 INSTRUCTIONS DEFINITION OF "KEY EMPLOYEE". INDIVIDUALS REPORTED IN PRIOR YEARS DID NOT MEET THE APPLICABLE COMPENSATION AND AUTHORITY THRESHOLDS. THESE INDIVIDUALS HAVE BEEN REMOVED FROM THE RETURN AND NOT LISTED AS FORMER. FORM 990, PART XI, LINE 9: PENSION OBLIGATION CHANGES 5,020,115. BERKLEE COLLEGE OF MUSIC DELEGACION DE LA FUNDACION EN ESPANA AVENIDA PROFESOR LOPEZ PINERO 1 VALENCIA SP 46013 999999999 EDUCATION SP N/A N/A BERKLEE US 1 THE BOSTON CONSERVATORY REALTY CORP 8 THE FENWAY BOSTON MA 02215 263644206 REAL ESTATE MA 501(C)(3) LINE 12A, I BERKLEE US 1 THE BOSTON CONSERVATORY IPSWICH REALTY 8 THE FENWAY BOSTON MA 02215 454795446 REAL ESTATE MA 501(C)(3) LINE 12A, I BERKLEE US 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 BERKLEE COLLEGE OF MUSIC DELEGACION DE LA FUNDACION EN ESPANA D 32742961 SEE PART VII BERKLEE COLLEGE OF MUSIC DELEGACION DE LA FUNDACION EN ESPANA R 16187737 SEE PART VII PART V, LINE 2 THE METHOD FOR DETERMINING THE AMOUNT INVOLVED WAS COST OR CURRENCY CONVERSION.