BERKLEE COLLEGE OF MUSIC INC

EIN: 042300472 501(c)(3) Education

BOSTON, MA

Total Revenue
$460,330,866
Total Expenses
$464,670,221
Total Assets
$988,069,581
Net Assets
$591,903,561
🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Sign In — Free (10 views/day)

Financial Trends

Organization Details

Formation Year
1945
Legal Domicile
MA
Principal Officer
JIM LUCCHESE
Phone
6177472287
Tax Period
2024-06-01 to 2025-05-31

BERKLEE COLLEGE OF MUSIC INC, founded in 1945, is a major nonprofit in the Education sector that reported $460.3M in total revenue in fiscal year 2024.

Mission

THE MISSION OF BERKLEE COLLEGE OF MUSIC IS TO EDUCATE, TRAIN, AND DEVELOP STUDENTS TO EXCEL IN THE PERFORMING ARTS.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Sign In — Free (10 views/day)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $16,015,313
Program Service Revenue $434,575,346
Investment Income $6,590,676
Other Revenue $3,149,531
TOTAL REVENUE $460,330,866

Expense Breakdown

Grants Paid $124,291,650
Salaries & Benefits $228,182,706
Fundraising Expenses $2,174,608
Program Expenses $379,262,231
Other Expenses $112,195,865
TOTAL EXPENSES $464,670,221

Year-over-Year Comparison

2024 2023 Change
Revenue $460,330,866 $441,448,497 +0.0%
Expenses $464,670,221 $448,558,717 +0.0%
Net Income $-4,339,355 $-7,110,220 -0.4%
Key Indicators
✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Sign In

Governance

Voting Members
33
Independent Members
32
Employees
5254
Volunteers
39

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$1,398,932
Total Directors
40
$0
Key Employees
2
$1,041,929
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JIM LUCCHESE PRESIDENT (BEGINNING 1/25) 40.00
Officer Director
$0 $0 $0
MARTIN J MANNION CHAIR 2.00
Director
$0 $0 $0
CHARLES ANDERSON TRUSTEE 2.00
Director
$0 $0 $0
LEE BURROWS TRUSTEE (BEGINNING 4/24) 2.00
Director
$0 $0 $0
DAVID CLEM TRUSTEE (END 5/25) 2.00
Director
$0 $0 $0
JOHN CONNAUGHTON TRUSTEE (END 5/25) 2.00
Director
$0 $0 $0
CYNTHIA K CURME TRUSTEE 2.00
Director
$0 $0 $0
KRISTY EDMUNDS TRUSTEE (BEGINNING 10/24) 2.00
Director
$0 $0 $0
EMILIO ESTEFAN TRUSTEE (END 5/25) 2.00
Director
$0 $0 $0
GLORIA ESTEFAN TRUSTEE (END 5/25) 2.00
Director
$0 $0 $0
DAVID FRIEND TRUSTEE (BEGINNING 5/25) 2.00
Director
$0 $0 $0
DAVID GROSS TRUSTEE 2.00
Director
$0 $0 $0
THOMAS H HAGERTY TRUSTEE 2.00
Director
$0 $0 $0
VELINA HASU-HOUSTON TRUSTEE 2.00
Director
$0 $0 $0
MARINA HATSOPOULOS TRUSTEE (BEGINNING 6/24) 2.00
Director
$0 $0 $0
KRISTINE MOYER HIGGINS TRUSTEE (BEGINNING 5/25) 2.00
Director
$0 $0 $0
CARLETTA HIGGINSON TRUSTEE (BEGINNING 5/25) 2.00
Director
$0 $0 $0
STEVEN HOLTZMAN TRUSTEE 2.00
Director
$0 $0 $0
BILL KAISER TRUSTEE 2.00
Director
$0 $0 $0
GRACE KELLY TRUSTEE 2.00
Director
$0 $0 $0
PETER LABBAT TRUSTEE (BEGINNING 4/24) 2.00
Director
$0 $0 $0
MIE KYUNG LEE TRUSTEE (END 5/25) 2.00
Director
$0 $0 $0
HASSELL MCCLELLAN TRUSTEE 2.00
Director
$0 $0 $0
FREDERICK T MILLER TRUSTEE (END 5/25) 2.00
Director
$0 $0 $0
PETER MULLER TRUSTEE (END 11/24) 2.00
Director
$0 $0 $0
ROBERT S MURLEY TRUSTEE 2.00
Director
$0 $0 $0
JIM PALLOTTA TRUSTEE (BEGINNING 5/25) 2.00
Director
$0 $0 $0
ANTHONY PANGARO TRUSTEE 2.00
Director
$0 $0 $0
JEFF PATTERSON TRUSTEE (BEGINNING 5/25) 2.00
Director
$0 $0 $0
JON PLATT TRUSTEE 2.00
Director
$0 $0 $0
SNOW QIN TRUSTEE 2.00
Director
$0 $0 $0
DARIUS SIDEBOTHAM TRUSTEE 2.00
Director
$0 $0 $0
DAVID SCOTT SLOAN TRUSTEE 2.00
Director
$0 $0 $0
ELIZABETH CARILLO THOMAS TRUSTEE 2.00
Director
$0 $0 $0
KATIE VITOLINS TRUSTEE (BEGINNING 4/24) 2.00
Director
$0 $0 $0
PAUL WACHTER TRUSTEE 2.00
Director
$0 $0 $0
TARIK WARD TRUSTEE 2.00
Director
$0 $0 $0
SUSAN WHITEHEAD TRUSTEE 2.00
Director
$0 $0 $0
ANDY YOUNISS TRUSTEE 2.00
Director
$0 $0 $0
MARILLYN ZACHARIS TRUSTEE 2.00
Director
$0 $0 $0
DAVID BOGEN INTERIM PRESIDENT & PROVOST 40.00
Officer
$577,646 $67,085 $644,731
JOHN CASE INTERIM CFO (END 5/25) 40.00
Officer
$408,403 $67,085 $475,488
KAITLIN PASSAFARO SECRETARY 40.00
Officer
$255,703 $23,010 $278,713
PAUL S DWORKIS EVP & CFO (BEGINNING 4/25) 40.00
Officer
$0 $0 $0
DEBORAH CAVALIER SENIOR VICE PRESIDENT 40.00
Key Emp
$401,380 $48,783 $450,163
ELIZABETH NEWMAN EVP & CHIEF STRATEGY OFFICER 40.00
Key Emp
$531,568 $60,198 $591,766
ERIN TUNNICLIFFE SENIOR VICE PRESIDENT (END 1/25) 40.00
Highest
$415,775 $54,520 $470,295
PHILLIP KNUTEL VP & CHIEF INFORMATION OFFICER 40.00
Highest
$356,028 $59,860 $415,888
EILEEN ALVITI SENIOR VICE PRESIDENT, HR 40.00
Highest
$331,559 $42,302 $373,861
RONALD SAVAGE VP & EXECUTIVE DIRECTOR 40.00
Highest
$290,861 $62,583 $353,444
CLAIRE MACHAMER SENIOR VICE PRESIDENT 40.00
Highest
$342,591 $65,644 $408,235
ERICA MUHL FORMER PRESIDENT 0.00
$1,250,000 $50,166 $1,300,166
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $460,330,866 $464,670,221 $988,069,581 $-4,339,355
2024 $441,448,497 $448,558,717 $953,128,354 $-7,110,220
2023 $422,055,763 $406,064,459 $863,247,556 $15,991,304
2022 $384,612,408 $379,163,719 $854,558,047 $5,448,689
2021 $313,496,483 $321,040,250 $889,466,260 $-7,543,767
2020 $368,578,114 $341,497,647 $757,790,141 $27,080,467
2019 $351,171,568 $327,811,972 $779,515,214 $23,359,596
2018 $328,082,314 $322,443,335 $768,245,357 $5,638,979
Explore More Nonprofits
→Top 100 Nonprofits in Massachusetts →Largest U.S. Nonprofits →Best Rated Nonprofits →Most Efficient Nonprofits

Compare BERKLEE COLLEGE OF MUSIC INC with other nonprofits in Massachusetts and across the country.

We Value Your Privacy
We use cookies and similar technologies to analyze site traffic and improve your experience. By clicking "Accept All", you consent to our use of cookies for analytics and measurement.