2024-04-12T09:41:01-05:00 2023-05-31 135565207 KPMG LLP 60 SOUTH STREET TWO FINANCIAL CENTER BOSTON MA 02111 990 2022-06-01 042300472 BERKLEE COLLEGE OF MUSIC INC BERK 6177472287 1140 BOYLSTON STREET BOSTON MA 022153693 JOHN CASE INTERIM CFO 6177472287 2024-04-11 1 JOHN CASE 999009999 0 ZELJKO POPOVIC P01795951 6179881000 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z DAVID BOGEN 1140 BOYLSTON STREET BOSTON MA 022153693 464483306 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. 37 36 4633 38 457156 302396 21086260 16888901 355720389 387846261 3223661 11182194 4582098 6138407 384612408 422055763 90755931 97658529 0 0 182742159 206349903 0 0 6134795 105665629 102056027 379163719 406064459 5448689 15991304 854558047 863247556 386521347 370998325 468036700 492249231 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 285684855 96201832 315748952 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 10,508 STUDENTS FROM THE US AND 100 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. 27528520 264527 41387041 BERKLEE ONLINE: BERKLEE COLLEGE OF MUSIC OFFERS DEGREES AND ACCREDITED PROGRAMS IN THE AREAS OF PRODUCTION, GUITAR, SONG WRITING, THEORY, HARMONY AND EAR TRAINING, AND THE MUSIC BUSINESS. CURRENTLY MORE THAN 4,000 STUDENTS PARTICIPATE IN ONLINE LEARNING. 13368658 1192170 30831417 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. 326582033 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 1 0 1 0 0 0 0 1 1 1 0 0 1 1245 0 1 4633 1 1 1 1 SP 0 0 0 1 1 0 0 0 0 0 0 X 37 36 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 0 CA MA NY X X JAHAN HABIB 6177476973 1140 BOYLSTON STREET BOSTON MA 022153693 ERICA MUHL PRESIDENT 35.00 X X 677751 0 48218 MARTIN J MANNION CHAIR 2.00 X 0 0 0 SUSAN WHITEHEAD CHAIR EMERITA 2.00 X 0 0 0 CHARLES ANDERSON TRUSTEE (BEGIN 05/23) 2.00 X 0 0 0 G LEONARD BAKER JR TRUSTEE 2.00 X 0 0 0 DAVID CLEM TRUSTEE 2.00 X 0 0 0 JOHN CONNAUGHTON TRUSTEE 2.00 X 0 0 0 CYNTHIA K CURME TRUSTEE 2.00 X 0 0 0 EMILIO ESTEFAN TRUSTEE 2.00 X 0 0 0 GLORIA ESTEFAN TRUSTEE 2.00 X 0 0 0 FRANCESCA FREDERICK TRUSTEE 2.00 X 0 0 0 DAVID GROSS-LOH TRUSTEE 2.00 X 0 0 0 JOSH GRUSS TRUSTEE 2.00 X 0 0 0 THOMAS H HAGERTY TRUSTEE 2.00 X 0 0 0 VELINA HASU-HOUSTON TRUSTEE (BEGIN 03/23) 2.00 X 0 0 0 CHARLES HIRSCHHORN TRUSTEE 2.00 X 0 0 0 STEVEN HOLTZMAN TRUSTEE 2.00 X 0 0 0 BILL KAISER TRUSTEE 2.00 X 0 0 0 MIE KYUNG LEE TRUSTEE 2.00 X 0 0 0 HASSELL MCCLELLAN TRUSTEE 2.00 X 0 0 0 JANE L MENDILLO TRUSTEE 2.00 X 0 0 0 FREDERICK T MILLER TRUSTEE 2.00 X 0 0 0 PETER MULLER TRUSTEE 2.00 X 0 0 0 ROBERT S MURLEY TRUSTEE 2.00 X 0 0 0 ANTHONY PANGARO TRUSTEE 2.00 X 0 0 0 JON PLATT TRUSTEE 2.00 X 0 0 0 SNOW QIN TRUSTEE 2.00 X 0 0 0 ALEX RIGOPULOS TRUSTEE 2.00 X 0 0 0 STEVEN RUCHEFSKY TRUSTEE 2.00 X 0 0 0 DAVID SCOTT SLOAN TRUSTEE 2.00 X 0 0 0 DARIUS SIDEBOTHAM TRUSTEE 2.00 X 0 0 0 SUSAN SOLOMONT TRUSTEE 2.00 X 0 0 0 ELIZABETH CARILLO THOMAS TRUSTEE 2.00 X 0 0 0 PAUL WACHTER TRUSTEE 2.00 X 0 0 0 TARIK WARD TRUSTEE 2.00 X 0 0 0 ANDY YOUNISS TRUSTEE 2.00 X 0 0 0 MARILLYN ZACHARIS TRUSTEE 2.00 X 0 0 0 JEFF SHAMES TRUSTEE (END 03/23) 2.00 X 0 0 0 RICHARD HISEY CFO (THROUGH 08/31/22) 35.00 X 454404 0 67196 MELISSA HOWE SECRETARY 35.00 X 191914 0 19539 STEFANO FALCONI INTERIM CFO (9/1/22-5/14/23) 35.00 X 271735 0 60963 DEBORAH CAVALIER SENIOR VICE PRESIDENT 35.00 X 388620 0 42178 LAWRENCE J SIMPSON SENIOR VICE PRESIDENT 35.00 X 335667 0 66918 ELIZABETH NEWMAN SENIOR VICE PRESIDENT 35.00 X 388077 0 57557 THOMAS RILEY VICE PRESIDENT 35.00 X 320938 0 76420 KATHY LANG INTERIM HEAD OF TECHNOLOGY 35.00 X 293073 0 53203 EILEEN ALVITI SENIOR VICE PRESIDENT, HR 35.00 X 299668 0 40394 PETER COKKINIAS TERM PROFESSOR MUSIC ED 35.00 X 283112 0 0 CATHLEEN YOUNG FORMER EXECUTIVE DIRECTOR (END 5/22) 0.00 X 142789 0 0 4047748 0 532586 455 1 1 0 ARAMARK SERVICES INC 27310 NETWORK PLACE CHICAGO IL 60673 FOOD SERVICES 8309171 ACME BUILDING SERVICES INC 599 NORTH AVENUE SUITE 6 WAKEFIELD MA 01880 CUSTODIAL SERVICES 5273733 GOOGLE INC PO BOX 39000 SAN FRANCISCO CA 94139 MARKETING 4793031 CAVT SOLUTIONS LLC 85 FLAGSHIP DRIVE SUITE C NORTH ANDOVER MA 01845 TECHNOLOGY 2845414 META PLATFORMS INC 15161 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 MARKETING 2657793 122 1914507 5434543 9539851 281312 16888901 TUITION & FEES 611710 312259160 312259160 BERKLEE ONLINE 611710 41387041 41387041 ROOM & BOARD 721310 30831417 30831417 GLOBAL INITIATIVES 611710 2712980 2712980 PERFORMANCE CENTER 611710 655663 655663 387846261 1025748 102250 923498 2854193 565263 2288930 2288930 335347 1953583 50576705 40420259 10156446 10156446 19559 10136887 0 1914507 588485 -588485 -588485 974685 853536 121149 121149 BERKLEE PRESS 900099 322828 322828 CBS COMMISSIONS (PEPSI 900099 136644 136644 BOOKSTORE 900099 94623 94623 3762718 3762718 4316813 422055763 387967410 457156 16742296 97658529 97658529 1872449 417753 903467 551229 65013 65013 165296869 128273823 33780353 3242693 7593755 26129 7543880 23746 20394958 15296219 4169469 929270 11126859 8499793 2430071 196995 1759711 9743 1749968 438348 438348 763753 763753 20970914 13963992 6938480 68442 9518277 8735574 782039 664 6630803 5357194 1273609 9329474 2491539 6824377 13558 2517674 2517674 12465857 11865132 600725 2464471 1668218 701223 95030 539912 372267 142212 25433 7743409 6623303 1120106 11895910 9811384 2084526 1124224 1124224 COST OF MEALS 6902585 6898246 4250 89 EVENT EXPENSE 3271206 1933559 431745 905902 LICENSES & FEES 106219 77757 28462 TRAINING 62775 30190 32332 253 3550505 3225249 243765 81491 406064459 326582033 73347631 6134795 111053874 144702885 8442485 7874152 453046 241285 933485 88316 518626016 224805675 292896080 293820341 406592352 368109113 34186725 48411464 854558047 863247556 99030568 68568198 39071486 39948785 244655337 237482792 3763956 24998550 386521347 370998325 X 331315221 353766476 136721479 138482755 468036700 492249231 854558047 863247556 X 15991304 4410124 3811103 X 0 1 X 1 1 1 X 26539077 26109290 35386001 21086260 16888901 126009529 26539077 26109290 35386001 21086260 16888901 126009529 4924747 121084782 4204963 3822043 2728049 2793803 3442344 16991202 1230370 303396 1533766 2042612 8718346 3867486 3133107 5291498 23053049 167587546 1641902316 0.72250 0.75850 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 406592352 3942546 14828565 6422421 28919388 390021654 446633116 4366019 -41093737 2825961 487085 406592352 327571106 20631458 114628364 2460186 13737626 446633116 356061885 5124631 -17363212 2534515 13717683 327571106 365075720 4802197 1008984 1899726 12925290 356061885 0.75308 0.19920 0.04772 0 0 56752952 56752952 369205177 162963514 206241663 26955693 10589702 16365991 56123612 47331954 8791658 9588582 3920505 5668077 293820341 OTHER ASSETS 28369064 RIGHT-OF-USE ASSETS 20042400 48411464 REFUNDABLE ADVANCES - US GOV 3806364 LEASE OBLIGATIONS 21192186 24998550 X 443935788 4410124 16278670 20688794 423246994 763753 -1954984 -1191231 422055763 417862006 12613600 12613600 405248406 763753 52300 816053 406064459 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, 2023 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 3,811,103. BERKLEE COLLEGE OF MUSIC DELEGACION, DE LA FUNDACION EN ESPANA REVENUE 12,467,567. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASS OF RENTAL EXPENSES -565,263. RECLASS OF FUNDRAISING EXPENSE -588,485. GILBERT GRANT 52,300. BERKLEE LAPTOP PROGRAM COST OF GOODS SOLD -853,536. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASS OF RENTAL EXPENSES 565,263. RECLASS OF FUNDRAISING EXPENSE 588,485. RECLASS OF BCOM, DELEGACION DE LA FUNDACION EN ESPANA EXPENSES 10,606,316. BERKLEE LAPTOP PROGRAM COST OF GOODS SOLD 853,536. PART XII, LINE 4B - OTHER ADJUSTMENTS: GILBERT GRANT 52,300. 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 128778704 EAST ASIA AND THE PACIFIC PROGRAM SERVICES STUDY ABROAD 178227 SOUTH ASIA PROGRAM SERVICES STUDY ABROAD 55683 EUROPE (INCLUDING ICELAND AND GREENLAND) PROGRAM SERVICES STUDY ABROAD 529590 MIDDLE EAST AND NORTH AFRICA 1 4 PROGRAM SERVICES STUDY ABROAD 2170440 CENTRAL AMERICA AND THE CARIBBEAN PROGRAM SERVICES STUDY ABROAD 26820 NORTH AMERICA PROGRAM SERVICES STUDY ABROAD 318973 RUSSIA AND NEIGHBORING STATES PROGRAM SERVICES STUDY ABROAD 3766 SOUTH AMERICA PROGRAM SERVICES STUDY ABROAD 239716 SUB-SAHARAN AFRICA PROGRAM SERVICES STUDY ABROAD 21805 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 4 0 0 2 4 132058437 265287 132323724 1 0 1 1 1 1 PART III ACCOUNTING METHOD: 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 114 EMPLOYEES. GALA - BCM 1411725 1411725 20500 121832 128246 59700 SOIREE - BCB 502782 502782 27417 66693 164097 1914507 1914507 20500 149249 194939 223797 588485 -588485 1 INTERNAL SCHOLARSHIPS 5045 89201805 0 EXTERNAL SCHOLARSHIPS 1437 6702301 0 FEDERAL WORK STUDY 237 386203 0 MASSACHUSETTS STATE SCHOLARSHIPS 64 52300 0 SEOG FINANCIAL AID AWARDS 794 1315920 0 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 1 1 X X X X X 1 0 0 1 0 0 0 1 0 ERICA MUHL PRESIDENT 621019 0 50000 0 6732 0 18300 0 29918 0 725969 0 0 0 RICHARD HISEY CFO (THROUGH 08/31/22) 359868 0 86804 0 7732 0 47949 0 19247 0 521600 0 0 0 ELIZABETH NEWMAN SENIOR VICE PRESIDENT 334547 0 52000 0 1530 0 27450 0 30107 0 445634 0 0 0 DEBORAH CAVALIER SENIOR VICE PRESIDENT 329914 0 50800 0 7906 0 27450 0 14728 0 430798 0 0 0 LAWRENCE J SIMPSON SENIOR VICE PRESIDENT 229514 0 40192 0 65961 0 43904 0 23014 0 402585 0 0 0 THOMAS RILEY VICE PRESIDENT 295844 0 12140 0 12954 0 47950 0 28470 0 397358 0 0 0 KATHY LANG INTERIM HEAD OF TECHNOLOGY 256569 0 0 0 36504 0 25359 0 27844 0 346276 0 0 0 EILEEN ALVITI SENIOR VICE PRESIDENT, HR 262638 0 31521 0 5509 0 27029 0 13365 0 340062 0 0 0 STEFANO FALCONI INTERIM CFO (9/1/22-5/14/23) 244199 0 15750 0 11786 0 17545 0 43418 0 332698 0 0 0 PETER COKKINIAS TERM PROFESSOR MUSIC ED 0 0 0 0 283112 0 0 0 0 0 283112 0 0 0 MELISSA HOWE SECRETARY 178944 0 7200 0 5770 0 16614 0 2925 0 211453 0 0 0 CATHLEEN YOUNG FORMER EXECUTIVE DIRECTOR (END 5/22) 142789 0 0 0 0 0 0 0 0 0 142789 0 0 0 PART I, LINE 1A BENEFITS HEALTH CLUB DUES 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. PART I, LINE 4A DURING THE CALENDAR YEAR 2022, PETER COKKINIAS RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $283,112. THIS AMOUNT IS REPORTED IN COLUMN B(III). PART I, LINE 5 CONTINGENT PAYMENTS DEBORAH CAVALIER IS ELIGIBLE TO RECEIVE A PERCENTAGE OF AVAILABLE BONUS DOLLARS ANNUALLY. THE BONUS OF $50,800 REPORTED IN COLUMN B(II) IS EQUAL TO 10% OF THE DIVISION OPERATING MARGIN MINUS APPLICABLE RENT EXPENSES. 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 21387446 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: 05/31/2018 BRUNO RABERG SPOUSE - M. HOWE, OFFICER 65013 EMPLOYMENT - FAMILY MEMBER 0 X 1916 252900 FMV X MUSICAL EQUIPMENT 62 28412 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. 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 XI, LINE 9: PENSION OBLIGATION CHANGES 3,811,103. 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 R 9659659 SEE PART VII BERKLEE COLLEGE OF MUSIC DELEGACION DE LA FUNDACION EN ESPANA D 10117210 SEE PART VII PART V, LINE 2 THE METHOD FOR DETERMINING THE AMOUNT INVOLVED WAS COST OR CURRENCY CONVERSION.