Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $1,546,399

• 1e · Government grants (contributions)

  $1,208,407

• 1f · All other contributions, gifts and grants

  $89,165,552

• 1g · Noncash contributions included above

  $551,055

• 2a · Program service revenue: TUITION & FEES

  total $53,847,544 · related or exempt $53,847,544

• 2b · Program service revenue: INT'L PROGRAM DEV AND OPERATIONS

  total $13,028,132 · related or exempt $13,028,132

• 2c · Program service revenue: RESIDENCE HALL

  total $7,089,332 · related or exempt $6,994,092 · excluded $95,240

• 2d · Program service revenue: USER FEES, EDUCATION PROGRAM

  total $1,350,367 · related or exempt $1,350,367

• 3 · Investment income

  total $5,996,392 · unrelated business -$512,605 · excluded $6,508,997

• 6a · Gross rents

  real property $429,192

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $429,192

• 6d · Net rental income or loss

  total $429,192 · excluded $429,192

• 7a · Gross sales of assets other than inventory

  securities $577,169,979 · other assets $42,379

• 7b · Less cost or other basis and sales expenses

  securities $528,400,444 · other assets $0

• 7c · Gain or loss

  securities $48,769,535 · other assets $42,379

• 7d · Net gain or loss

  total $48,811,914 · excluded $48,811,914

• 8a · Fundraising events: gross income

  $60,900

• 8a · Fundraising events: contributions included on line 1c

  $1,546,399

• 8b · Fundraising events: direct expenses

  $423,382

• 8c · Net income from fundraising events

  total -$362,482 · excluded -$362,482

• 10a · Gross sales of inventory

  $2,080,519

• 10b · Cost of goods sold

  $1,190,434

• 10c · Net income from sales of inventory

  total $890,085 · related or exempt $890,085

• 11a · Other revenue: RECORDING INCOME

  total $40,582 · excluded $40,582

• 11b · Other revenue: VENDING MACHINE

  total $19,572 · excluded $19,572

• 11d · All other revenue

  total $596,694 · excluded $596,694

• 11e · Other revenue, total

  $656,848

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $36,536,600 · program services $36,536,600

• 5 · Compensation of officers, directors and key employees

  total $7,004,125 · program services $3,196,802 · management and general $2,858,167 · fundraising $949,156

• 7 · Other salaries and wages

  total $66,821,990 · program services $57,235,812 · management and general $8,124,303 · fundraising $1,461,875

• 8 · Pension plan contributions

  total $3,616,331 · program services $3,097,539 · management and general $439,677 · fundraising $79,115

• 9 · Other employee benefits

  total $8,336,602 · program services $7,140,645 · management and general $1,013,576 · fundraising $182,381

• 10 · Payroll taxes

  total $5,410,114 · program services $4,428,614 · management and general $804,815 · fundraising $176,685

• 11b · Fees: legal

  total $900,396 · management and general $900,396

• 11c · Fees: accounting

  total $255,045 · management and general $255,045

• 11f · Fees: investment management

  total $3,665,100 · management and general $3,665,100

• 11g · Fees: other

  total $4,052,694 · program services $2,545,899 · management and general $1,249,368 · fundraising $257,427

• 12 · Advertising and promotion

  total $944,586 · program services $282,558 · management and general $660,730 · fundraising $1,298

• 13 · Office expenses

  total $2,577,640 · program services $1,644,711 · management and general $728,323 · fundraising $204,606

• 14 · Information technology

  total $4,849,630 · management and general $4,849,630

• 16 · Occupancy

  total $10,619,806 · program services $9,557,825 · management and general $955,783 · fundraising $106,198

• 17 · Travel

  total $1,650,542 · program services $1,501,522 · management and general $125,141 · fundraising $23,879

• 19 · Conferences, conventions and meetings

  total $1,067,167 · program services $521,890 · management and general $345,817 · fundraising $199,460

• 20 · Interest

  total $8,375,370 · program services $7,537,833 · management and general $753,783 · fundraising $83,754

• 22 · Depreciation, depletion and amortization

  total $13,597,007 · program services $12,561,901 · management and general $933,266 · fundraising $101,840

• 23 · Insurance

  total $2,838,978 · management and general $2,838,978

• 24a · Other expenses: AUXILIARY SERVICES

  total $2,081,318 · program services $2,081,318

• 24b · Other expenses: PERFORMANCE PRODUCTION

  total $1,749,648 · program services $1,749,648

• 24c · Other expenses: INSTRUMENT PURCH & MAIN

  total $684,372 · program services $684,372

• 24e · All other expenses

  total $3,864,276 · program services $2,168,632 · management and general $1,514,023 · fundraising $181,621

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $12,032,800 · end of year $13,138,688

• 3 · Pledges and grants receivable

  beginning of year $15,698,479 · end of year $64,076,279

• 4 · Accounts receivable

  beginning of year $7,739,004 · end of year $5,913,845

• 7 · Other notes and loans receivable

  beginning of year $252,116 · end of year $216,557

• 8 · Inventories for sale or use

  beginning of year $1,106,385 · end of year $1,103,563

• 9 · Prepaid expenses and deferred charges

  beginning of year $14,147,416 · end of year $13,831,249

• 10a · Land, buildings and equipment: cost or other basis

  $336,901,685

• 10b · Land, buildings and equipment: accumulated depreciation

  $187,883,670

• 10c · Land, buildings and equipment, net

  beginning of year $148,385,756 · end of year $149,018,015

• 11 · Investments: publicly traded securities

  beginning of year $166,352,229 · end of year $148,864,690

• 12 · Investments: other securities

  beginning of year $1,183,350,997 · end of year $1,253,917,802

• 15 · Other assets

  beginning of year $6,471,194 · end of year $5,791,411

• 17 · Accounts payable and accrued expenses

  beginning of year $27,258,645 · end of year $26,541,204

• 19 · Deferred revenue

  beginning of year $1,075,673 · end of year $929,817

• 20 · Tax-exempt bond liabilities

  beginning of year $193,201,627 · end of year $192,955,583

• 25 · Other liabilities

  beginning of year $22,067,491 · end of year $15,662,784

• 27 · Net assets without donor restrictions

  beginning of year $259,695,292 · end of year $262,340,653

• 28 · Net assets with donor restrictions

  beginning of year $1,052,237,648 · end of year $1,157,442,058

The filer's explanations (Part III)

PART I, LINE 1A

ON OCCASION, THE SCHOOL PROVIDES NON-COACH (GENERALLY BUSINESS-CLASS, ALTHOUGH FIRST-CLASS MAY BE USED IF BUSINESS-CLASS IS UNAVAILABLE) TRAVEL FOR ITS OFFICERS FOR TRAVEL TO INTERNATIONAL DESTINATIONS, IN ACCORDANCE WITH THE SCHOOL'S POLICY. SUCH TRAVEL IS IN DIRECT SUPPORT OF THE SCHOOL'S EDUCATIONAL AND PERFORMANCE PROGRAMS (FOR EXAMPLE, AN INTERNATIONAL PERFORMANCE TOUR OF THE STUDENT ORCHESTRA). ALSO, ON OCCASION THE SCHOOL PROVIDES TRANSPORTATION FOR THE SPOUSE OF THE PRESIDENT TO ATTEND, ON BEHALF OF THE SCHOOL, FUNCTIONS OR OTHER EVENTS TOGETHER WITH THE PRESIDENT IN DIRECT SUPPORT AND FURTHERANCE OF THE SCHOOL'S MISSION.

PART I, LINE 3

AN EMPLOYMENT CONTRACT IS EXECUTED BETWEEN THE SCHOOL AND ITS PRESIDENT, THE TERMS OF WHICH ARE SUBJECT TO REVIEW BY THE BOARD OF TRUSTEES. AT THE END OF THE CONTRACT'S TERM, WHEN DECIDING THE TERMS UNDER WHICH THE CONTRACT MAY BE RENEWED OR EXTENDED, THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, WITH THE ASSISTANCE OF AN OUTSIDE COMPENSATION EXPERT, CONDUCTS RESEARCH AMONG PEER INSTITUTIONS AND DOCUMENTS THE FINDINGS AND DECISIONS REACHED. THE COMPENSATION OF OFFICERS AND OTHER KEY EMPLOYEES IS REVIEWED ANNUALLY BY THE COMPENSATION COMMITTEE PRIOR TO THE START OF EACH FISCAL YEAR, AND QUESTIONS, OBJECTIONS, AND THE RESOLUTION OF EACH IS DOCUMENTED.

PART I, LINE 4B

THE PRESIDENT EARNED ACCRUED DEFERRED COMPENSATION OF $87,580 IN ACCORDANCE WITH HIS EMPLOYMENT AGREEMENT. THIS AMOUNT IS REPORTED ON SCHEDULE J, PART II, COLUMN C.

PART I, LINE 7

DAMIAN WOETZEL, PRESIDENT, WAS PAID DEFERRED COMPENSATION FOR AMOUNTS EARNED FROM 2018-2023. THE AMOUNTS ARE REPORTED IN SCHEDULE J, PART II, COLUMN B(II).

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• SCHERZO LLC

  SUPPORT · NY · income $0 · assets $0

  Directly controlled by JUILLIARD

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• ALLERGO (TIANJIN) EDUCATION CONSULTING

  C · MGMT COMPANY · CH · 100% owned · controlled entity

  Directly controlled by SCHERZO LLC