Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $689,574

• 1d · Related organizations

  $4,254,788

• 1e · Government grants (contributions)

  $108,000

• 1f · All other contributions, gifts and grants

  $7,109,205

• 1g · Noncash contributions included above

  $736,766

• 2a · Program service revenue: CONCERT AND TOURING INCOME

  total $1,581,372 · related or exempt $1,581,372

• 2b · Program service revenue: DORMITORY AND DINING REVENUE

  total $1,476,906 · related or exempt $1,476,906

• 2c · Program service revenue: STUDENT FEES

  total $858,749 · related or exempt $858,749

• 2d · Program service revenue: RECORDING INCOME

  total $38,582 · related or exempt $38,582

• 2e · Program service revenue: SUMMER AND ONLINE PROGRAMS

  total $1,220 · related or exempt $1,220

• 2f · All other program service revenue

  total $14,418 · related or exempt $14,418

• 3 · Investment income

  total $3,076,380 · unrelated business -$3,184 · excluded $3,079,564

• 5 · Royalties

  total $1,602 · excluded $1,602

• 6a · Gross rents

  real property $198,250

• 6b · Less rental expenses

  real property $210,664

• 6c · Rental income or loss

  real property -$12,414

• 6d · Net rental income or loss

  total -$12,414 · unrelated business -$10,866 · excluded -$1,548

• 7a · Gross sales of assets other than inventory

  securities $24,680,748 · other assets $260,802

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

  securities $19,329,292 · other assets $0

• 7c · Gain or loss

  securities $5,351,456 · other assets $260,802

• 7d · Net gain or loss

  total $5,612,258 · excluded $5,612,258

• 8a · Fundraising events: gross income

  $112,375

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

  $689,574

• 8b · Fundraising events: direct expenses

  $112,375

• 8c · Net income from fundraising events

  total $0

• 11a · Other revenue: ADMINISTRATIVE FEE

  total $42,000 · excluded $42,000

• 11b · Other revenue: COMMISSIONS FOR ARTIST MANAGEMENT

  total $16,978 · excluded $16,978

• 11d · All other revenue

  total $59,580 · excluded $59,580

• 11e · Other revenue, total

  $118,558

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $1,729,649 · program services $1,729,649

• 5 · Compensation of officers, directors and key employees

  total $2,397,403 · program services $831,285 · management and general $1,566,118

• 7 · Other salaries and wages

  total $10,569,308 · program services $7,360,134 · management and general $2,151,591 · fundraising $1,057,583

• 8 · Pension plan contributions

  total $704,183 · program services $598,451 · management and general $35,728 · fundraising $70,004

• 9 · Other employee benefits

  total $849,579 · program services $690,748 · management and general $78,449 · fundraising $80,382

• 10 · Payroll taxes

  total $859,841 · program services $672,568 · management and general $113,413 · fundraising $73,860

• 11b · Fees: legal

  total $267,561 · management and general $267,561

• 11c · Fees: accounting

  total $110,413 · management and general $110,413

• 11d · Fees: lobbying

  total $87,000 · management and general $87,000

• 11e · Fees: professional fundraising services

  total $134,676 · fundraising $134,676

• 11f · Fees: investment management

  total $1,358,347 · management and general $1,358,347

• 11g · Fees: other

  total $1,464,874 · program services $1,031,901 · management and general $285,395 · fundraising $147,578

• 12 · Advertising and promotion

  total $983,114 · program services $2,803 · management and general $978,466 · fundraising $1,845

• 13 · Office expenses

  total $632,567 · program services $276,341 · management and general $311,021 · fundraising $45,205

• 14 · Information technology

  total $574,491 · program services $494,313 · management and general $57,825 · fundraising $22,353

• 16 · Occupancy

  total $1,348,634 · program services $1,200,589 · management and general $93,753 · fundraising $54,292

• 17 · Travel

  total $1,107,965 · program services $933,052 · management and general $165,591 · fundraising $9,322

• 19 · Conferences, conventions and meetings

  total $132,314 · program services $79,066 · management and general $51,776 · fundraising $1,472

• 20 · Interest

  total $2,700 · management and general $2,700

• 22 · Depreciation, depletion and amortization

  total $3,029,123 · program services $2,650,665 · management and general $258,593 · fundraising $119,865

• 23 · Insurance

  total $346,018 · program services $308,065 · management and general $24,022 · fundraising $13,931

• 24a · Other expenses: PRODUCTION COSTS

  total $3,251,016 · program services $3,251,016

• 24b · Other expenses: DINING SERVICE/CATERING

  total $1,119,101 · program services $538,901 · management and general $559,412 · fundraising $20,788

• 24c · Other expenses: SCHOOL OPERATIONS

  total $211,994 · program services $178,195 · management and general $5,599 · fundraising $28,200

• 24d · Other expenses: MEMBERSHIP/DUES/SUBS

  total $140,415 · program services $65,603 · management and general $54,753 · fundraising $20,059

• 24e · All other expenses

  total $125,419 · program services $60,769 · management and general $62,455 · fundraising $2,195

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,607,034 · end of year $1,118,728

• 2 · Savings and temporary cash investments

  beginning of year $2,111,733 · end of year $3,848,291

• 3 · Pledges and grants receivable

  beginning of year $52,343,439 · end of year $45,179,353

• 4 · Accounts receivable

  beginning of year $1,744,079 · end of year $29,701

• 7 · Other notes and loans receivable

  beginning of year $433,123 · end of year $305,842

• 9 · Prepaid expenses and deferred charges

  beginning of year $830,564 · end of year $451,895

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

  $144,927,493

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

  $41,832,847

• 10c · Land, buildings and equipment, net

  beginning of year $101,050,600 · end of year $103,094,646

• 11 · Investments: publicly traded securities

  beginning of year $57,361,252 · end of year $59,678,147

• 12 · Investments: other securities

  beginning of year $149,490,863 · end of year $169,803,571

• 15 · Other assets

  beginning of year $1,870,655 · end of year $1,827,869

• 17 · Accounts payable and accrued expenses

  beginning of year $1,560,919 · end of year $2,294,838

• 19 · Deferred revenue

  beginning of year $153,973 · end of year $196,297

• 25 · Other liabilities

  beginning of year $1,842,611 · end of year $2,129,726

• 27 · Net assets without donor restrictions

  beginning of year $130,855,127 · end of year $132,401,509

• 28 · Net assets with donor restrictions

  beginning of year $235,430,712 · end of year $248,315,673

The filer's explanations (Part III)

PART I, LINE 1A

FIRST CLASS OR CHARTER TRAVEL IS PROVIDED FOR OFFICIAL INSTITUTE BUSINESS WHEN DEEMED APPROPRIATE. THIS IS NOT INCLUDED IN TAXABLE COMPENSATION.

PART I, LINE 4B

ROBERTO DIAZ PARTICIPATES IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. CONTRIBUTIONS IN THE AMOUNT OF $206,551 ARE INCLUDED IN SCHEDULE J, PART II, COLUMN (C). UNDER THIS PLAN, CONTRIBUTIONS BECOME VESTED ON THE EARLIER OF (1) DEATH OF THE PARTICIPANT, (2) THE PARTICIPANT'S DISABILITY, OR (3) MAY 31, 2025, PROVIDED THAT THE PARTICIPANT REMAINS IN THE EMPLOY OF CURTIS THROUGH SUCH DATE UNLESS TERMINATION IS ON ACCOUNT OF DEATH OR DISABILITY. IN THE EVENT THAT ANY CONTRIBUTIONS ARE NOT VESTED AT THE TIME OF THE PARTICIPANT'S TERMINATION OF EMPLOYMENT WITH CURTIS, SUCH CONTRIBUTIONS AND ANY EARNINGS CREDITED THERETO SHALL BE FOREVER FORFEITED BY THE PARTICIPANT. PAYMENT OF PLAN BENEFITS TO THE PARTICIPANT OR A BENEFICIARY SHALL BE MADE IN A SINGLE LUMP-SUM DISTRIBUTION AS SOON ADMINISTRATIVELY PRACTICABLE FOLLOWING THE DATE THE PARTICIPANT BECOMES VESTED. THE PLAN INCLUDES A SUBSTANTIAL RISK OF FORFEITURE.