Juilliard School

“Form 990, Part VI, Line 2 Bruce Kovner, Chairman and Keith Gollust, Trustee - Business Relationship”

“Form 990, Part VI, Line 11b The Form 990 is prepared by an independent accounting firm in conjunction with Juilliard's Financial Department. It is reviewed by management prior to providing a draft copy of the form 990 to the audit committee and to the board of trustees. Questions and comments are solicited from the governing board, and any matters raised in this review process are addressed prior to filing the form 990.”

“Form 990, Part VI, Line 12c In October of each year, all trustees complete conflict of interest declarations. The declarations are submitted to the secretary (the school's vice president for development and public affairs) who reviews the declarations and maintains them. Additionally, if trustees are elected during the year, each completes a conflict of interest declaration upon election. Any conflict or potential conflicts are reviewed by the audit committee, and if the committee determines that a potential conflict of interest exists, the matter is referred to the board for resolution as applicable based on the circumstances of the matter at hand. The trustee affected by the potential conflict may not be present nor participate in the discussion of the matter and may not vote on the issue. The school may enter in to the proposed transaction or relationship only if the board approves it in accordance with the procedures described above.”

“Form 990, Part VI, Line 15a 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 other officers and 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. Compensation of the following officers and key employees was last reviewed for fiscal year 2014-2015: president, provost/dean, vp/chief operating officer, vp for development/public affairs, vp/general counsel, chief investment officer, VP for finance/controller, vp for facilities management, VP FOR ENROLLMENT MANAGEMENT/STUDENT DEVELOPMENT, Sr. Managing Dir. for Educational and Artistic Affairs/JGV, AND Senior Managing Director for Business & Strategy/JGV.”

“Form 990, Part VI, Line 19 All policies of the school applicable to employees are disclosed in the staff and faculty handbooks and accompanying statements, all of which are posted on the school's website for staff and faculty members - and anyone else - to review. The school makes its annual audited financial statements and Form 990 available upon request to any interested parties. The form 990 is also published on the internet at www.guidestar.org. The conflict of interest policy applicable to trustees is discussed in part VI, Section B, but it is not published on the website. Governing documents are made available upon request.”

“form 990, part xi, line 9 Change in value of Split-interest agreements ($669,670) Change in Fair Value of Derivative Instruments ($6,503,181) ------------- Total ($7,172,851) =============”

“Form 990, Part VII Maurice Edelson's start date with the organization was January 2015. He did not receive compensation in 2014.”