Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $1,124,933

• 1e · Government grants (contributions)

  $4,896,620

• 1f · All other contributions, gifts and grants

  $13,961,808

• 1g · Noncash contributions included above

  $7,659,598

• 2a · Program service revenue: TUITION AND ACADEMIC F

  total $51,812,130 · related or exempt $51,812,130

• 2b · Program service revenue: ROOM AND BOARD

  total $5,220,979 · related or exempt $5,220,979

• 2c · Program service revenue: STUDENT HEALTH INSURAN

  total $1,658,020 · related or exempt $1,658,020

• 2d · Program service revenue: HALL RENTALS

  total $999,044 · related or exempt $999,044

• 2e · Program service revenue: NON-ACADEMIC FEES

  total $928,348 · related or exempt $928,348

• 2f · All other program service revenue

  total $1,305,155 · related or exempt $1,305,155

• 3 · Investment income

  total $1,874,560 · unrelated business -$176,002 · excluded $2,050,562

• 6a · Gross rents

  real property $2,035

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $2,035

• 6d · Net rental income or loss

  total $2,035 · excluded $2,035

• 7a · Gross sales of assets other than inventory

  securities $61,966,730

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

  securities $55,463,086 · other assets $15,206

• 7c · Gain or loss

  securities $6,503,644 · other assets -$15,206

• 7d · Net gain or loss

  total $6,488,438 · unrelated business $182,148 · excluded $6,306,290

• 8a · Fundraising events: gross income

  $65,481

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

  $1,124,933

• 8b · Fundraising events: direct expenses

  $236,277

• 8c · Net income from fundraising events

  total -$170,796 · excluded -$170,796

• 10a · Gross sales of inventory

  $9,983

• 10b · Cost of goods sold

  $0

• 10c · Net income from sales of inventory

  total $9,983 · excluded $9,983

• 11a · Other revenue: LAUNDRY FEE COMMISSION

  total $8,983 · excluded $8,983

• 11b · Other revenue: OTHER SPECIAL EVENTS

  total $7,521 · excluded $7,521

• 11c · Other revenue: PUBLICATIONS

  total $4,405 · excluded $4,405

• 11d · All other revenue

  total $49,888 · excluded $49,888

• 11e · Other revenue, total

  $70,797

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $22,883,863 · program services $22,883,863

• 5 · Compensation of officers, directors and key employees

  total $1,775,798 · management and general $1,278,293 · fundraising $497,505

• 7 · Other salaries and wages

  total $29,899,189 · program services $25,050,384 · management and general $3,472,350 · fundraising $1,376,455

• 8 · Pension plan contributions

  total $1,011,533 · program services $799,978 · management and general $151,711 · fundraising $59,844

• 9 · Other employee benefits

  total $3,527,920 · program services $2,749,856 · management and general $552,464 · fundraising $225,600

• 10 · Payroll taxes

  total $2,163,704 · program services $1,711,181 · management and general $324,514 · fundraising $128,009

• 11b · Fees: legal

  total $312,947 · program services $11,235 · management and general $293,596 · fundraising $8,116

• 11c · Fees: accounting

  total $168,411 · management and general $168,411

• 11f · Fees: investment management

  total $621,059 · management and general $621,059

• 11g · Fees: other

  total $3,619,966 · program services $1,388,122 · management and general $2,102,127 · fundraising $129,717

• 12 · Advertising and promotion

  total $516,370 · program services $151,494 · management and general $65,250 · fundraising $299,626

• 13 · Office expenses

  total $2,042,826 · program services $1,906,105 · management and general $126,977 · fundraising $9,744

• 14 · Information technology

  total $112,089 · program services $51,406 · management and general $60,683

• 16 · Occupancy

  total $3,971,560 · program services $3,112,339 · management and general $851,372 · fundraising $7,849

• 17 · Travel

  total $706,471 · program services $358,625 · management and general $167,269 · fundraising $180,577

• 19 · Conferences, conventions and meetings

  total $158,314 · program services $51,910 · management and general $47,063 · fundraising $59,341

• 20 · Interest

  total $1,012,440 · program services $985,664 · management and general $24,282 · fundraising $2,494

• 22 · Depreciation, depletion and amortization

  total $6,436,680 · program services $5,789,313 · management and general $611,619 · fundraising $35,748

• 24a · Other expenses: STUDENT HEALTH & FOOD

  total $3,580,976 · program services $1,686,109 · management and general $1,894,867

• 24b · Other expenses: PAYROLL PROCESSING

  total $163,407 · management and general $163,407

• 24c · Other expenses: BAD DEBT

  total $71,669 · program services $71,669

• 24d · Other expenses: ATTRITION IN ENVIRONMEN

  total $43,858 · management and general $43,858

• 24e · All other expenses

  total $1,500,587 · program services $991,003 · management and general $447,270 · fundraising $62,314

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,025,985 · end of year $4,737,739

• 3 · Pledges and grants receivable

  beginning of year $22,097,424 · end of year $14,835,351

• 4 · Accounts receivable

  beginning of year $954,354 · end of year $11,371,176

• 7 · Other notes and loans receivable

  beginning of year $1,218,454 · end of year $671,458

• 9 · Prepaid expenses and deferred charges

  beginning of year $312,172 · end of year $255,053

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

  $165,273,051

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

  $78,137,957

• 10c · Land, buildings and equipment, net

  beginning of year $96,504,430 · end of year $87,135,094

• 11 · Investments: publicly traded securities

  beginning of year $20,192,399 · end of year $25,724,928

• 12 · Investments: other securities

  beginning of year $144,295,282 · end of year $169,443,084

• 15 · Other assets

  beginning of year $3,682,006 · end of year $2,324,669

• 17 · Accounts payable and accrued expenses

  beginning of year $3,746,513 · end of year $6,572,639

• 19 · Deferred revenue

  beginning of year $1,299,188 · end of year $1,624,534

• 20 · Tax-exempt bond liabilities

  beginning of year $28,780,104 · end of year $27,425,765

• 23 · Secured mortgages and notes payable

  beginning of year $6,807,675 · end of year $6,202,610

• 25 · Other liabilities

  beginning of year $2,581,494 · end of year $2,219,492

• 27 · Net assets without donor restrictions

  beginning of year $68,870,288 · end of year $75,057,222

• 28 · Net assets with donor restrictions

  beginning of year $178,197,244 · end of year $197,396,290

The filer's explanations (Part III)

PART I, LINE 1A

A $63,605 HOUSING BENEFIT WAS PROVIDED TO PRESIDENT, ANDREA KALYN. A $10,000 ANNUAL HOUSING ALLOWANCE WAS PROVIDED TO FACULTY MEMBER, JANE LYSON. A $10,000 ANNUAL HOUSING ALLOWANCE WAS PROVIDED TO FACULTY MEMBER, SOOVIN KIM. THE HOUSING ALLOWANCES WERE REPORTED AS TAXABLE COMPENSATION.

PART I, LINE 7

KATHLEEN KELLY'S BONUS IS CONTINGENT ON MEETING CERTAIN GOALS AS DETERMINED BY THE BOARD OF TRUSTEES. SOOVIN KIM RECIEVED A ONE TIME BONUS IN LIEU OF IMPLEMENTING BASE SALARY INCREASES.

Disregarded entities

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

• MEASURE FOR MEASURE LLC

  TO ACQUIRE & SELL DONATED ASSETS ON BEHALF OF NEC. · DE · income $0 · assets $0

  Directly controlled by NEW ENGLAND CONSERVATORY OF MUSIC

Related corporations and trusts

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

• CHARITABLE LEAD ANNUITY (1)

  INVESTMENT · MA · controlled entity

  Directly controlled by NEW ENGLAND CONSERVATORY OF MUSIC

• GIFT ANNUITIES (31)

  INVESTMENT · MA · controlled entity

  Directly controlled by NEW ENGLAND CONSERVATORY OF MUSIC

• CHARITABLE REMAINDER TRUSTS (5)

  INVESTMENT · MA · controlled entity

  Directly controlled by NEW ENGLAND CONSERVATORY OF MUSIC