2025-04-14T14:34:23-05:00 2024-05-31 135565207 KPMG LLP 60 SOUTH STREET TWO FINANCIAL CENTER BOSTON MA 02111 990 2023-06-01 042300472 BERKLEE COLLEGE OF MUSIC INC BERK 6177472287 1140 BOYLSTON STREET BOSTON MA 022153693 JOHN CASE INTERIM CFO 6177472287 2025-04-11 1 0 ZELJKO POPOVIC P01795951 6179881000 2023 2025-03-06 01:10:19Z JIM LUCCHESE 1140 BOYLSTON STREET BOSTON MA 022153693 443820839 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. 29 28 5103 38 1010890 963267 16888901 17431737 387846261 412803864 11182194 1458872 6138407 9754024 422055763 441448497 97658529 110375755 0 0 206349903 228037389 0 0 7025654 102056027 110145573 406064459 448558717 15991304 -7110220 863247556 953128354 370998325 414861449 492249231 538266905 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 314354385 109339814 337652801 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 8,368 STUDENTS FROM THE US AND 152 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. 32587426 205016 41301999 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. 12342063 830925 33781759 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. 359283874 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 1174 0 1 5103 1 1 1 1 SP 0 0 0 1 1 0 0 0 0 1 0 X 29 28 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 JAHAN HABIB 6177476973 1140 BOYLSTON STREET BOSTON MA 022153693 ERICA MUHL PRESIDENT (THROUGH 7/28/23) 40.00 0.00 X X 1717413 0 50166 MARTIN J MANNION CHAIR 2.00 0.00 X 0 0 0 SUSAN WHITEHEAD TRUSTEE 2.00 0.00 X 0 0 0 CHARLES ANDERSON TRUSTEE 2.00 0.00 X 0 0 0 DAVID CLEM TRUSTEE 2.00 0.00 X 0 0 0 JOHN CONNAUGHTON TRUSTEE 2.00 0.00 X 0 0 0 CYNTHIA K CURME TRUSTEE 2.00 0.00 X 0 0 0 EMILIO ESTEFAN TRUSTEE 2.00 0.00 X 0 0 0 GLORIA ESTEFAN TRUSTEE 2.00 0.00 X 0 0 0 DAVID GROSS-LOH TRUSTEE (END 04/24) 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 CHARLES HIRSCHHORN TRUSTEE (END 04/24) 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 MIE KYUNG LEE TRUSTEE 2.00 0.00 X 0 0 0 HASSELL MCCLELLAN TRUSTEE 2.00 0.00 X 0 0 0 FREDERICK T MILLER TRUSTEE 2.00 0.00 X 0 0 0 PETER MULLER TRUSTEE 2.00 0.00 X 0 0 0 ROBERT S MURLEY TRUSTEE 2.00 0.00 X 0 0 0 ANTHONY PANGARO TRUSTEE 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 STEVEN RUCHEFSKY TRUSTEE (END 04/24) 2.00 0.00 X 0 0 0 DAVID SCOTT SLOAN TRUSTEE 2.00 0.00 X 0 0 0 DARIUS SIDEBOTHAM TRUSTEE 2.00 0.00 X 0 0 0 ELIZABETH CARILLO THOMAS TRUSTEE 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 ANDY YOUNISS TRUSTEE 2.00 0.00 X 0 0 0 MARILLYN ZACHARIS TRUSTEE 2.00 0.00 X 0 0 0 GRACE KELLY TRUSTEE (BEGINNING 3/22) 2.00 0.00 X 0 0 0 DAVID BOGEN INTERIM PRESIDENT (BEG. 6/19/23) 40.00 0.00 X X 480593 0 62957 MICHAEL SHINN INTERIM ED (BEGINNING 8/1/23) 40.00 0.00 X 213576 0 72692 JOHN CASE INTERIM CFO (BEGINNING 8/1/23) 40.00 0.00 X 157965 0 24749 KAITLIN PASSAFARO SECRETARY (BEGINNING 8/1/21) 40.00 0.00 X 248767 0 22340 ELIZABETH NEWMAN SENIOR VICE PRESIDENT 40.00 0.00 X 457128 0 60802 DEBORAH CAVALIER SENIOR VICE PRESIDENT 40.00 0.00 X 405115 0 46068 ERIN TUNNICLIFFE SENIOR VICE PRESIDENT 40.00 0.00 X 419811 0 51034 PHILLIP KNUTEL VP & CHIEF INFO. OFFICER 40.00 0.00 X 350749 0 52200 EILEEN ALVITI SENIOR VICE PRESIDENT, HR 40.00 0.00 X 333734 0 40212 KATHY LANG INTERIM HEAD OF TECHNOLOGY 40.00 0.00 X 256904 0 55142 RONALD SAVAGE VP & ED 40.00 0.00 X 284297 0 59308 LACRETIA FLASH SENIOR VP FOR CAMPUS CULTURE 40.00 0.00 X 290093 0 27414 STEFANIE HENNING ASSOC VP, CAREER STRGY & SVCS 40.00 0.00 X 263770 0 54156 JEFF SAWADA VP OF FINANCE (END 03/07/24) 40.00 0.00 X 256399 0 31812 STEFANO FALCONI FORMER INTERIM CFO (9/1/22-5/14/23) 0.00 0.00 X 277321 0 45123 RICHARD HISEY FORMER CFO & CIO (9/22-8/23) 0.00 0.00 X 272075 0 56353 THOMAS RILEY FORMER VP (END 12/31/22) 40.00 0.00 X 348669 0 6691 7034379 0 819219 395 1 1 0 TISHMAN CONSTRUCTION CORP OF MASS 1 FEDERAL ST FL 8 BOSTON MA 02110 CONSTRUCTION 13446751 ARAMARK SERVICES INC 27310 NETWORK PLACE CHICAGO IL 60673 FOOD SERVICES 7593650 GOOGLE INC PO BOX 39000 SAN FRANCISCO CA 94139 ADVERTISING 5836572 ACME BUILDING SERVICES INC 599 NORTH AVENUE SUITE 6 WAKEFIELD MA 01880 CUSTODIAL SERVICES 5443065 CE TECH NEW ENGLAND 220 NORWOOD PARK SOUTH SUITE 206 NORWOOD MA 02062 CONSULTING SERVICES 5142782 151 1708729 5078996 10644012 695981 17431737 TUITION & FEES 611710 333083359 333083359 BERKLEE ONLINE 611710 41301999 41301999 ROOM & BOARD 721310 33781759 33781759 GLOBAL INITIATIVES 611710 3857568 3857568 PERFORMANCE CENTER 611710 779179 779179 412803864 1394078 -115235 1509313 3577248 736089 2841159 2841159 1061331 1779828 64794 0 64794 64794 64794 120935 1708729 726126 -605191 -605191 842822 910127 -67305 -67305 CBS COMMISSIONS (PEPSI 900099 314241 314241 BERKLEE PRESS 900099 250754 250754 BOOKSTORE 900099 165241 165241 6855125 6855125 7585361 441448497 412736559 1010890 10269311 110375755 110375755 6596379 1471686 3182789 1941904 177606006 137454506 37789010 2362490 8772178 30184 8714563 27431 22855373 17141530 4672467 1041376 12207453 9325256 2666070 216127 2093599 36069 2057530 668230 668230 23484 23484 20058582 9601498 10456959 125 10249793 9361978 886833 982 6623494 2224314 4223396 175784 5778121 4057542 1706730 13849 2398164 2398164 13679304 13127521 547005 4778 3556326 2762665 663463 130198 69507 38982 17869 12656 7509076 7501876 7200 15184770 15184770 1207573 1207573 COST OF MEALS 6445137 5956605 240645 247887 EVENT EXPENSE 3433564 2093842 629869 709853 SUBSCRIPTIONS 1215161 183370 952078 79713 TRAINING 138996 70728 67890 378 9812692 8861549 891020 60123 448558717 359283874 82249189 7025654 144702885 103508450 7874152 5611488 241285 17502271 88316 521898706 219283158 293820341 302615548 368109113 426384464 48411464 97506133 863247556 953128354 68568198 71820277 39948785 54822043 237482792 230070246 24998550 58148883 370998325 414861449 X 353766476 387467677 138482755 150799228 492249231 538266905 863247556 953128354 X -7110220 46079357 7048537 X 0 1 X 1 1 1 X 26109290 35386001 21086260 16888901 17431737 116902189 26109290 35386001 21086260 16888901 17431737 116902189 3654241 113247948 3822043 2728049 2793803 3442344 4025230 16811469 1230370 303396 964267 2498033 8718346 3867486 3133107 5291498 8549118 29559555 165771246 1747995043 0.68320 0.72250 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 390021654 3870493 47449951 3352226 11605408 426384464 406592352 3942546 14828565 6422421 28919388 390021654 446633116 4366019 -41093737 2825961 487085 406592352 327571106 20631458 114628364 2460186 13737626 446633116 356061885 5124631 -17363212 2534515 13717683 327571106 0.74688 0.19129 0.06183 0 0 56752952 56752952 386192637 174066999 212125638 26996775 12234682 14762093 33772103 25090381 8681722 18184239 7891096 10293143 302615548 OTHER ASSETS 43896542 RIGHT-OF-USE ASSETS 53609591 97506133 REFUNDABLE ADVANCES - US GOV 3569687 LEASE OBLIGATIONS 54579196 58148883 X 510059941 46079357 20183230 66262587 443797354 -2348857 -2348857 441448497 462532849 13914132 13914132 448618717 -60000 -60000 448558717 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, 2024 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 7,048,536. BERKLEE COLLEGE OF MUSIC DELEGACION, DE LA FUNDACION EN ESPANA REVENUE 13,074,694. GILBERT GRANT 60,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASS OF RENTAL EXPENSES -736,088. RECLASS OF FUNDRAISING EXPENSE -726,126. BERKLEE LAPTOP PROGRAM COST OF GOODS SOLD -910,127. INVESTMENT FEES 23,484. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASS OF RENTAL EXPENSES 736,088. RECLASS OF FUNDRAISING EXPENSE 726,126. RECLASS OF BCOM, DELEGACION DE LA FUNDACION EN ESPANA EXPENSES 11,565,275. BERKLEE LAPTOP PROGRAM COST OF GOODS SOLD 910,127. INVESTMENT FEES -23,484. PART XII, LINE 4B - OTHER ADJUSTMENTS: GILBERT GRANT -60,000. 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 141648105 EAST ASIA AND THE PACIFIC PROGRAM SERVICES STUDY ABROAD 179460 SOUTH ASIA PROGRAM SERVICES STUDY ABROAD 10470 EUROPE (INCLUDING ICELAND AND GREENLAND) PROGRAM SERVICES STUDY ABROAD 654647 MIDDLE EAST AND NORTH AFRICA 1 4 PROGRAM SERVICES STUDY ABROAD 1232687 CENTRAL AMERICA AND THE CARIBBEAN PROGRAM SERVICES STUDY ABROAD 46634 NORTH AMERICA PROGRAM SERVICES STUDY ABROAD 202347 SOUTH AMERICA PROGRAM SERVICES STUDY ABROAD 60218 SUB-SAHARAN AFRICA PROGRAM SERVICES STUDY ABROAD 16200 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 143974350 76418 144050768 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 119 EMPLOYEES. GALA - BCM 1237627 1147442 90185 24000 154290 267033 SOIREE - BCB 592037 561287 30750 12676 77368 190759 1829664 1708729 120935 36676 231658 457792 726126 -605191 1 INTERNAL SCHOLARSHIPS 7634 102380524 EXTERNAL SCHOLARSHIPS 546 6674538 FEDERAL WORK STUDY 126 306518 MASSACHUSETTS STATE SCHOLARSHIPS 98 60000 SEOG FINANCIAL AID AWARDS 539 954175 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 1 0 0 0 1 0 ERICA MUHL PRESIDENT (THROUGH 7/28/23) 388991 0 50000 0 1278422 0 29700 0 20466 0 1767579 0 0 0 DAVID BOGEN INTERIM PRESIDENT (BEG. 6/19/23) 418763 0 41252 0 20578 0 29700 0 33257 0 543550 0 0 0 ELIZABETH NEWMAN SENIOR VICE PRESIDENT 401835 0 43260 0 12033 0 29700 0 31102 0 517930 0 0 0 ERIN TUNNICLIFFE SENIOR VICE PRESIDENT 355963 0 36050 0 27798 0 29700 0 21334 0 470845 0 0 0 DEBORAH CAVALIER SENIOR VICE PRESIDENT 347705 0 42024 0 15386 0 29700 0 16368 0 451183 0 0 0 PHILLIP KNUTEL VP & CHIEF INFO. OFFICER 321967 0 22712 0 6070 0 52200 0 0 0 402949 0 0 0 EILEEN ALVITI SENIOR VICE PRESIDENT, HR 286480 0 34560 0 12694 0 29700 0 10512 0 373946 0 0 0 THOMAS RILEY FORMER VP (END 12/31/22) 11517 0 0 0 337152 0 5531 0 1160 0 355360 0 0 0 RONALD SAVAGE VP & ED 232884 0 19190 0 32223 0 26051 0 33257 0 343605 0 0 0 RICHARD HISEY FORMER CFO & CIO (9/22-8/23) 207138 0 36000 0 28937 0 41583 0 14770 0 328428 0 0 0 STEFANO FALCONI FORMER INTERIM CFO (9/1/22-5/14/23) 174764 0 0 0 102557 0 15456 0 29667 0 322444 0 0 0 STEFANIE HENNING ASSOC VP, CAREER STRGY & SVCS 243675 0 10291 0 9804 0 24783 0 29373 0 317926 0 0 0 LACRETIA FLASH SENIOR VP FOR CAMPUS CULTURE 251795 0 30000 0 8298 0 25948 0 1466 0 317507 0 0 0 KATHY LANG INTERIM HEAD OF TECHNOLOGY 256904 0 0 0 0 0 23121 0 32021 0 312046 0 0 0 JEFF SAWADA VP OF FINANCE (END 03/07/24) 220568 0 15188 0 20643 0 15444 0 16368 0 288211 0 0 0 MICHAEL SHINN INTERIM ED (BEGINNING 8/1/23) 200543 0 12180 0 853 0 43134 0 29558 0 286268 0 0 0 KAITLIN PASSAFARO SECRETARY (BEGINNING 8/1/21) 231843 0 16100 0 824 0 22340 0 0 0 271107 0 0 0 JOHN CASE INTERIM CFO (BEGINNING 8/1/23) 155894 0 0 0 2071 0 13085 0 11664 0 182714 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 THE INTERIM PRESIDENT, SENIOR VICE PRESIDENT, AND FORMER VICE PRESIDENT OF FINANCE 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 2023, ERICA MUHL, THOMAS RILEY, AND STEFANO FALCONE RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $1,200,000, $300,582, AND $57,938 RESPECTIVELY. THIS AMOUNT IS REPORTED IN PART II, 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 $42,024 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 26786882 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 X 1737 667048 FMV X MUSICAL EQUIPMENT 70 28933 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 7,048,537. 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 11891485 SEE PART VII BERKLEE COLLEGE OF MUSIC DELEGACION DE LA FUNDACION EN ESPANA D 16177719 SEE PART VII PART V, LINE 2 THE METHOD FOR DETERMINING THE AMOUNT INVOLVED WAS COST OR CURRENCY CONVERSION.