2024-03-15T10:37:56-05:00 2023-05-31 410746749 CLIFTONLARSONALLEN LLP TWO INTERNATIONAL PLACE 22ND FLOOR BOSTON MA 02110 990 2022-06-01 236000615 THE MARY LOUISE CURTIS BOK FOUNDATION MARY 2158935252 1726 LOCUST STREET PHILADELPHIA PA 19103 MITCHELL BILKER ASSISTANT TREASURER 2158935252 2024-03-03 1 MITCHELL BILKER 999009999 0 LAURA J KENNEY P00202198 6177170831 2024-03-03 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z BAYARD FIECHTER 1726 LOCUST STREET PHILADELPHIA PA 19103 13335489 0 X N/A X 1932 PA TO SUPPORT THE CURTIS INSTITUTE OF MUSIC, A TUITION-FREE MUSIC SCHOOL 9 9 0 9 -9007 0 0 0 0 0 12712681 1707358 0 0 12712681 1707358 4053532 4212371 0 0 0 0 0 0 0 671023 656354 4724555 4868725 7988126 -3161367 100159634 94922125 45041 257045 100114593 94665080 THE FOUNDATION WAS FORMED EXCLUSIVELY FOR CHARITABLE, SCIENTIFIC AND EDUCATIONAL PURPOSES, PARTICULARLY THE SUPPORT OF MUSIC AND MUSIC EDUCATION. THE FOUNDATION WILL CONTINUE TO DEDICATE ALL THE EARNINGS GENERATED FROM ITS INVESTMENT PORTOLIO TO CURTIS INSTITUTE OF MUSIC. 0 0 4212371 4212371 0 PROVIDE FINANCIAL SUPPORT FOR TUITION-FREE SCHOOL OF MUSIC: CURTIS INSTITUTE OF MUSIC, 1726 LOCUST STREET, PHILADELPHIA, PA 19103. 4212371 1 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 1 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 0 0 0 X MITCHELL BILKER 2157173118 1726 LOCUST STREET PHILADELPHIA PA 19103 X BAYARD FIECHTER PRESIDENT 1.00 0.00 X X 0 0 0 VICTORIA BOK VICE PRESIDENT 1.00 1.00 X X 0 0 0 JOSEPH M FIELD SECRETARY 1.00 0.00 X X 0 0 0 SCOTT M JENKINS TREASURER 1.00 0.00 X X 0 0 0 THOMAS BOK DIRECTOR 1.00 0.00 X 0 0 0 GARY GRAFFMAN DIRECTOR 1.00 0.00 X 0 0 0 ROBERT H ROCK DIRECTOR 1.00 1.00 X 0 0 0 BRETT RUBINSON DIRECTOR 1.00 0.00 X 0 0 0 SAMUEL R SHIPLEY DIRECTOR 1.00 0.00 X 0 0 0 0 0 0 0 0 0 0 0 1287322 -9007 1296329 12048167 11628131 420036 420036 420036 1707358 0 -9007 1716365 4212371 4212371 42000 42000 18400 18400 595954 595954 4868725 4212371 656354 0 741426 252085 3108890 25478946 96309318 69191094 100159634 94922125 22500 18901 22541 238144 45041 257045 X 100114593 94665080 100114593 94665080 100159634 94922125 -3161367 -2288146 0 X 0 1 X 1 0 X X 1 CURTIS INSTITUTE OF MUSIC 231585611 2 1 4212371 0 1 4212371 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 4053532 1287322 4053532 1287322 0 0 671023 656354 0 0 3382509 630968 105350958 93481906 408221 828342 0 0 105759179 94310248 0 0 0 105759179 94310248 1586388 1414654 104172791 92895594 3646048 3251346 0 0 3646048 3251346 3382509 2875133 3646048 3646048 0 3646048 4212371 0 0 0 0 0 4212371 4212371 3646048 100.000000000000 3646048 0 0 0 2126077 4116744 4053532 10296353 0 3646048 0 6650305 4212371 0 4212371 0 0 10862676 0 0 2596773 4053532 4212371 PART IV, SECTION D, LINE 3: THE MARY LOUISE CURTIS BOK FOUNDATION HAS NINE DIRECTORS. TWO OF THE DIRECTORS ARE ALSO TRUSTEES OF THE CURTIS INSTITUTE OF MUSIC. IN ADDITION, TWO OF THE MARY LOUISE CURTIS BOK FOUNDATION DIRECTORS ARE ACTIVE MEMBERS OF IMPORTANT CURTIS INSTITUTE OF MUSIC COMMITTEES (FINANCE, INVESTMENT, HUMAN RESOURCES, AND GOVERNANCE) THAT MAKE OPERATIONAL DECISIONS FOR THE CURTIS INSTITUTE OF MUSIC. THERE IS A CLOSE WORKING RELATIONSHIP BETWEEN THE OFFICERS AND DIRECTORS OF BOTH ORGANIZATIONS AND BY REASON OF THIS RELATIONSHIP, THE OFFICERS AND DIRECTORS OF THE CURTIS INSTITUTE OF MUSIC HAVE A SIGNIFICANT, BUT NOT MAJORITY, VOICE IN THE MARY LOUISE CURTIS BOK FOUNDATION'S INVESTMENT POLICIES, TIMING OF GRANTS, MANNER OF SELECTING GRANT RECIPIENTS, AND IN OTHERWISE DIRECTING THE USE OF THE MARY LOUISE CURTIS BOK FOUNDATION'S INCOME OR ASSETS. 0 COMMODITY FUNDS 597000 F COMMINGLED FUNDS 49384876 F HEDGE FUNDS 15068247 F REAL ESTATE FUNDS 2169809 F PRIVATE EQUITY FUNDS 1971162 F 69191094 DUE TO RELATED PARTY 238144 238144 X -1176742 -2288146 -2288146 1111404 595954 595954 1707358 4272771 0 4272771 595954 595954 4868725 PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. TAX FILINGS ARE SUBJECT TO AUDIT BY VARIOUS TAXING AUTHORITIES. OPEN PERIODS SUBJECT TO AUDIT ARE GENERALLY THE PREVIOUS THREE YEARS OF TAX RETURNS FILED. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES MANAGEMENT TO EVALUATE THE TAX POSITIONS TAKEN BY THE FOUNDATION AND RECOGNIZE A TAX LIABILITY IF THE INSTITUTE HAS TAKEN AN UNCERTAIN TAX POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE RELEVANT TAXING AUTHORITY. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION, AND HAS CONCLUDED THAT AS OF MAY 31, 2023 AND 2022, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR ASSET OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE FOUNDATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS N/A 23814990 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS N/A 469464 EAST ASIA AND THE PACIFIC 0 0 INVESTMENTS N/A 1891453 SUB-SAHARAN AFRICA 0 0 INVESTMENTS N/A 3458404 0 0 0 0 0 0 29634311 0 29634311 1 0 1 1 1 0 PART III ACCOUNTING METHOD: SCHEDULE F, PART IV NONE OF THE FOUNDATION'S ACTIVITY OR OWNERSHIP INTERESTS DURING THE TAX YEAR REQUIRED FORM 5471, FORM 8621, FORM 8865, OR FORM 926 TO BE FILED. 1 CURTIS INSTITUTE OF MUSIC 1726 LOCUST STREET PHILADELPHIA PA 19103 231585611 501(C)(3) 4212371 0 TO SUPPORT OPERATIONS OF THE CURTIS INSTITUTE OF MUSIC 1 0 PART I, LINE 2: THE FOUNDATION MAKES A GRANT TO SUPPORT THE ONGOING OPERATIONS OF THE CURTIS INSTITUTE OF MUSIC, A TUITION-FREE SCHOOL OF MUSIC THAT STRIVES TO EDUCATE AND TRAIN EXCEPTIONALLY GIFTED MUSICIANS FOR PERFORMING CAREERS AT THE HIGHEST PROFESSIONAL LEVEL. MONITORING OF THE USE OF THESE FUNDS IS DONE BY FOUNDATION BOARD MEMBERS PARTICIPATING IN THE CURTIS INSTITUTE OF MUSIC'S COMMITTEES THAT ARE CHARGED WITH THE APPROVAL AND OVERSIGHT FOR THE CREATION OF THE OPERATING BUDGET AS WELL AS ONGOING MONITORING THROUGHOUT THE FISCAL YEAR. FORM 990, PART VI, SECTION A, LINE 2 VICTORIA BOK AND TOMAS BOK HAVE A FAMILY RELATIONSHIP FORM 990, PART VI, SECTION A, LINE 8B THERE IS NO COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO ITS FILING, THE FORM 990 IS REVIEWED BY THE CURTIS AUDIT COMMITTEE WITH MANAGEMENT. ONCE APPROVED, THE FORM 990 IS THEN POSTED TO A PRIVATE ONLINE PORTAL FOR DIRECTORS TO REVIEW. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, FOUNDATION BOARD MEMBERS ARE ASKED TO REVIEW THEIR CONFLICTS OF INTEREST AND DISCLOSE ANY NEW CONFLICTS OR POTENTIAL CONFLICTS. CONFLICTS ARE SUBMITTED TO THE CHAIR OF THE GOVERNANCE COMMITTEE FOR REVIEW AND DISCUSSION WITH THE GOVERNANCE COMMITTEE. THE COMMITTEE DECIDES IF EACH DISCLOSED POTENTIAL CONFLICT 1) REPRESENTS A REAL CONFLICT, 2) IF A CONFLICT EXISTS, IS IT PERMISSIBLE OR IMPERMISSIBLE. ALL CONFLICTS (PERMISSIBLE AND IMPERMISSIBLE) ARE REPORTED TO THE BOARD OF TRUSTEES, WHO ARE TASKED WITH APPROVING RESOLUTIONS FOR PERMISSIBLE CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 THE FOUNDATION DOES NOT COMPENSATE ANY PERSON MEETING THE IRS DEFINITION OF OFFICER OR KEY EMPLOYEE. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS OF THE FOUNDATION ARE AVAILABLE TO THE PUBLIC UPON REQUEST. CURTIS INSTITUTE OF MUSIC 1726 LOCUST STREET PHILADELPHIA PA 19103 231585611 MUSIC EDUCATION PA 501(C)(3) LINE 2 N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0