2024-04-08T20:15:43-05:00 2023-06-30 910189318 MOSS ADAMS LLP 3121 W MARCH LN STE 200 STOCKTON CA 952192367 990 2022-07-01 951921340 ART CENTER COLLEGE OF DESIGN ARTC 6263962200 1700 LIDA STREET PASADENA CA 91103 KAREN HOFMANN PRESIDENT/CEO 6263962200 2024-04-04 1 KAREN HOFMANN 999009999 0 TRACY S PAGLIA P00366884 2099556100 2024-04-04 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z KAREN HOFMANN 1700 LIDA STREET PASADENA CA 91103 177684686 0 X WWW.ARTCENTER.EDU X 1930 CA ART CENTER COLLEGE OF DESIGN OPERATES AN INDEPENDENT, FOUR-YEAR CURRICULUM TO EDUCATE ARTISTS AND DESIGNERS IN COMMUNICATION ARTS AND INDUSTRIAL DESIGN THAT EXTENDS ITS LEGACY OF PROFESSIONAL ART AND DESIGN PRACTICE AND ENABLES ITS GRADUATES TO REALIZE SUCCESS, FULFILLMENT, AND RECOGNITION IN THEIR CHOSEN FIELDS. 25 24 2151 100 -60042 0 10734860 4107717 133857503 139073193 2351291 1566557 234594 207638 147178248 144955105 29941573 27430473 0 0 70089502 74905925 5800 33240 2176490 42317352 47230308 142354227 149599946 4824021 -4644841 387750252 392596618 174776745 169754824 212973507 222841794 X LEARN TO CREATE. INFLUENCE CHANGE. 0 0 139924501 27430473 139073193 THE COLLEGE OPERATES AN INDEPENDENT, FOUR-YEAR CURRICULUM TO EDUCATE ARTISTS AND DESIGNERS IN COMMUNICATION ARTS AND INDUSTRIAL DESIGN. THE COLLEGE OFFERS A BACHELOR OF FINE ARTS DEGREE IN SIX MAJORS (CREATIVE DIRECTION; FILM; FINE ART; GRAPHIC DESIGN; ILLUSTRATION; AND PHOTOGRAPHY AND IMAGING) AND A BACHELOR OF SCIENCE DEGREE IN FIVE MAJORS (ENTERTAINMENT DESIGN; INTERACTION DESIGN; PRODUCT DESIGN; SPATIAL EXPERIENCE DESIGN; AND TRANSPORTATION DESIGN). GRADUATE PROGRAMS LEAD TO THE MASTER OF FINE ARTS DEGREE IN: FILM; ART; MEDIA DESIGN PRACTICES; AND GRAPHIC DESIGN. THE GRADUATE PROGRAMS THAT OFFER THE MASTER OF SCIENCE DEGREE ARE: FURNITURE, LIGHTING & FIXTURES; SPATIAL EXPERIENCE DESIGN; INDUSTRIAL DESIGN; AND TRANSPORTATION SYSTEMS AND DESIGN. TWO GRADUATE PROGRAMS AWARD AN ONLINE MASTER OF DESIGN (MDES) DEGREE IN BRAND DESIGN AND STRATEGY AND INTERACTION DESIGN. ALL EXPENDITURES RELATE TO ACADEMIC INSTRUCTION, PROGRAM SUPPORT AND OPERATION OF THE COLLEGE. THE FTE ENROLLMENT FOR JULY 2022 TO JUNE 2023 WAS APPROXIMATELY 2,287 (FALL 2022), 2,131 (SPRING 2023) AND 942 (SUMMER 2023) STUDENTS. 139924501 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 1 1 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 0 0 0 0 1 2481 0 1 2151 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 25 24 1 0 0 0 0 0 0 1 1 0 0 1 1 0 1 1 1 1 1 0 CA X LINA DEASE 6263962328 1700 LIDA STREET PASADENA CA 91103 LORNE M BUCHMAN PRESIDENT/CEO (THRU 6/2022) 0.00 X 643592 0 76705 KAREN HOFMANN PRESIDENT/CEO 40.00 X X 387955 0 45474 RICHARD HALUSCHAK SVP, CHIEF FINANCIAL & ADMIN OFFICER 40.00 X 329613 0 49551 EMILY LASKIN SVP, DEVELOPMENT (THRU 9/2022) 40.00 X 256133 0 45538 TOM STERN SVP, ADMISSIONS & ENROLLMENT MGMT 40.00 X 239532 0 38370 JERED GOLD VP, MARKETING & COMMS (THRU 12/2022) 40.00 X 227794 0 37179 ROSEMARIE PICCIONI ASSOCIATE PROVOST, ACX/ONLINE ED 40.00 X 219871 0 33632 DAVID MOCARSKI CHAIR, ENVIRONMENTAL DESIGN 40.00 X 218672 0 34449 GLORIA KONDRUP EXEC DIRECTOR, CENTER OF TYPOGRAPHY 40.00 X 220038 0 32227 LISA SANCHEZ VP, EMPLOYEE ENGAGEMENT & EXPERIENCE 40.00 X 217444 0 24360 ERIC NG FULL TIME FACULTY, ENVIRONMENTAL DESIGN 40.00 X 215878 0 22444 ANNE BURDICK ACTING PROVOST 40.00 X 189024 0 26313 AARON BRUCE VP, CHIEF DIVERSITY OFFICER 40.00 X 189153 0 14590 MICHAEL M WARSAW TRUSTEE/CHAIR 1.00 X X 0 0 0 LINDA A HILL TRUSTEE/FIRST VICE CHAIR 1.00 X X 0 0 0 STEVEN M HITTER TRUSTEE/SECRETARY 1.00 X X 0 0 0 TOM GILMORE TRUSTEE/TREASURER 1.00 X X 0 0 0 JEFFREY C BARBAKOW TRUSTEE 1.00 X 0 0 0 RONALD BENSION TRUSTEE 1.00 X 0 0 0 KEVIN G BETHUNE TRUSTEE 1.00 X 0 0 0 CHRISTOPHER J BIRCHBY TRUSTEE 1.00 X 0 0 0 WESLEY A COLEMAN TRUSTEE 1.00 X 0 0 0 CLARENCE A DANIELS JR TRUSTEE 1.00 X 0 0 0 JANICE FELDMAN TRUSTEE 1.00 X 0 0 0 SARAH E GAVLAK TRUSTEE 1.00 X 0 0 0 WILLIAM T GROSS TRUSTEE 1.00 X 0 0 0 BRUCE HEAVIN TRUSTEE 1.00 X 0 0 0 TIMOTHY M KOBE TRUSTEE 1.00 X 0 0 0 MELISSA LORA TRUSTEE 1.00 X 0 0 0 DAVID C MARTIN TRUSTEE 1.00 X 0 0 0 MERLE MULLIN TRUSTEE 1.00 X 0 0 0 PETER W MULLIN TRUSTEE (THRU 6/2023) 1.00 X 0 0 0 PRAJNA MURDAYA TRUSTEE 1.00 X 0 0 0 CHARLES E NEARBURG TRUSTEE 1.00 X 0 0 0 IVY ROSS TRUSTEE 1.00 X 0 0 0 MICHELE RUIZ TRUSTEE 1.00 X 0 0 0 PHILLIP SAROFIM TRUSTEE 1.00 X 0 0 0 ZACHARY E SNYDER TRUSTEE 1.00 X 0 0 0 3554699 0 480832 182 0 1 0 DEL AMO CONSTRUCTION INC 23840 MADISON STREET TORRANCE CA 90505 CONSTRUCTION SERVICES 7427234 SECURITAS SECURITY SERVICES USA INC 4330 PARK TERRACE DR WESTLAKE VILLAGE CA 91361 SECURITY SERVICES 3795288 ACCO ENGINEERED SYSTEMS INC 888 E WALNUT ST PASADENA CA 91101 CONSTRUCTION SERVICES 1873091 PBM FACILITY SERVICES PO BOX 6534 PASADENA CA 91109 JANITORIAL SERVICES 1409623 DARIN JOHNSTONE ARCHITECTS 7462 NORTH FIGUEROA SUITE 206 LOS ANGELES CA 90041 ARCHITECTURAL SERVICES 1081979 38 175480 3932237 202040 4107717 TUITION AND FEES 611600 138036946 138036946 AUXILIARY SERVICES 611600 777995 777995 OTHER REVENUE 611600 258252 258252 139073193 1580801 1580801 885337 885337 411680 144000 267680 267680 267680 31686000 32585581 -899581 -899581 -899581 UBI FROM PASSTHROUGHS 523000 -60042 -60042 -60042 144955105 139073193 -60042 1834237 27430473 27430473 2610328 785331 1680136 144861 57006505 53854045 2189050 963410 3882891 3668167 149103 65621 6949455 6565150 266859 117446 4456746 4210288 171139 75319 777974 777974 154320 154320 33240 33240 347895 347895 10607203 10020624 407317 179262 357115 337367 13713 6035 7560239 7144128 288308 127803 7703399 7277401 295811 130187 5867219 5542762 225301 99156 1114306 1052685 42789 18832 115850 109443 4449 1958 3173083 2997612 121846 53625 6098617 5761363 234187 103067 2567977 2425968 98610 43399 LICENSES, PERMITS, DUES 457494 432194 17568 7732 STUDENT MATERIALS COSTS 450585 425668 17302 7615 FEES ON BOND DEBT 23449 22153 900 396 UNCOLLECTIBLE ACCOUNTS -146417 -138321 -5622 -2474 149599946 139924501 7498955 2176490 18122236 7971526 65189927 32100667 3698116 2332317 4624792 5184900 230000 230000 204131 137090 2487028 2001669 207984692 38720433 148266115 169264259 42961259 62888285 99972586 108545991 64410 40569 1929652 1899345 387750252 392596618 13605403 13530143 13841835 12077726 147205966 144029659 123541 117296 174776745 169754824 X 117425337 122294713 95548170 100547081 212973507 222841794 387750252 392596618 X -4644841 14895086 -432000 50042 X 0 1 X 1 1 1 X 5749696 5331342 12305994 10734860 4107717 38229609 5749696 5331342 12305994 10734860 4107717 38229609 2286893 35942716 2922258 2004031 1613474 1499751 2877818 10917332 49146941 646123959 0.73130 0.69550 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 127039000 2213000 14249000 4383000 1522000 243000 137353000 133281000 19722000 -19440000 4289000 1981000 254000 127039000 98145000 16221000 33233000 11566000 2527000 225000 133281000 99830000 424000 5024000 6513000 419000 201000 98145000 97518000 2337000 3544000 2915000 603000 51000 99830000 0.32000 0.47000 0.21000 1 0 9979957 9979957 154992495 31476015 123516480 9545315 6655578 2889737 33466925 588840 32878085 169264259 DOMESTIC EQUITY FUNDS 71929562 F MULTI-SECTOR BOND FUNDS 12960582 F MULTI-STRATEGY HEDGE FUND OF FUNDS 5925805 F PRIVATE MARKETS FUND INVESTMENT 17730042 F 108545991 ANNUITY OBLIGATIONS 117296 117296 X 133073529 14895086 -26980704 -12085618 145159147 -204042 -204042 144955105 123205242 432000 154000 586000 122619242 26980704 26980704 149599946 PART V, LINE 4: THE ENDOWMENTS ARE RESTRICTED BY THE DONORS FOR SCHOLARSHIPS AND SUPPORT FOR EDUCATIONAL PROGRAMS AND INITIATIVES. THE BOARD-DESIGNATED QUASI-ENDOWMENT IS RESTRICTED FOR SCHOLARSHIPS. PART X, LINE 2: THE COLLEGE HAD NO UNCERTAIN TAX POSITIONS FOR THE YEARS ENDED JUNE 30, 2023 OR 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID -26,980,704. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -144,000. UBI FROM PASSTHROUGHS -60,042. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 144,000. NET CHANGE IN ACTUARIAL OBLIGATIONS 10,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 26,980,704. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE COLLEGE PUBLICIZES ITS RACIALLY NONDISCRIMINATORY POLICY THROUGH BROCHURES, PRINT MEDIA, REGISTRATION MATERIALS, AND ITS WEBSITE. SCHEDULE E, PART I, LINE 6 THE COLLEGE ADMINISTERS VARIOUS SCHOLARSHIP PROGRAMS AND LOANS PROVIDED BY GOVERNMENTAL AGENCIES INCLUDING: DIRECT LOANS (SUBSIDIZED AND UNSUBSIDIZED), PELL GRANTS, SEOG, AND FEDERAL WORK STUDY PROGRAMS. AWARDS ARE MADE BASED UPON THE CRITERIA ESTABLISHED BY THE GOVERNMENTAL AGENCY. EUROPE (INCLUDING ICELAND AND GREENLAND) 1 2 PROGRAM SERVICES BERLIN, GERMANY STUDY AWAY PROGRAMMING 700000 EAST ASIA AND THE PACIFIC 0 2 PROGRAM SERVICES TOKYO, JAPAN, TAMA UNIVERSITY STUDY AWAY PROGRAMMING 90000 EAST ASIA AND THE PACIFIC 0 2 PROGRAM SERVICES SAFE NINOS CHILE STUDY AWAY PROGRAMMING 35000 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 5925806 1 6 0 0 1 6 6750806 0 6750806 1 0 1 1 1 0 PART I, LINE 3: ACCRUAL METHOD PART III ACCOUNTING METHOD: X X X X X X 1 JOHN LARSON & COMPANY 1075 LINDA GLEN DRIVE PASADENA CA 91105 RESEARCH SERVICES 0 0 33240 -33240 33240 -33240 CA 1 UNDERGRADUATE SCHOLARSHIPS 1876 22920402 GRADUATE SCHOLARSHIPS 210 3366371 PELL GRANTS, SEOG, FEDERAL WORK STUDY, DIRECT LOANS, HEERF I, II & III STUDENT AID 2070 168669 STUDENT SPECIAL CIRCUMSTANCE TUITION WAIVERS - MEDICAL 4 57246 EDUCATION PROGRAM TUITION DISCOUNTS 399 917785 PART I, LINE 2: GRANT FUNDS ARE RECORDED IN A PROJECT ACCOUNT SO THAT ALL ASSOCIATED REVENUES AND EXPENSES ARE ACCOUNTED FOR RELATED TO A SPECIFIC GRANT. X X X X 0 1 0 0 0 0 0 1 0 LORNE M BUCHMAN PRESIDENT/CEO (THRU 6/2022) 636485 0 0 0 7107 0 57890 0 18815 0 720297 0 0 0 KAREN HOFMANN PRESIDENT/CEO 387140 0 0 0 815 0 33315 0 12159 0 433429 0 0 0 RICHARD HALUSCHAK SVP, CHIEF FINANCIAL & ADMIN OFFICER 302634 0 25000 0 1979 0 37390 0 12161 0 379164 0 0 0 EMILY LASKIN SVP, DEVELOPMENT (THRU 9/2022) 213625 0 0 0 42508 0 37390 0 8148 0 301671 0 0 0 TOM STERN SVP, ADMISSIONS & ENROLLMENT MGMT 229413 0 10000 0 119 0 27185 0 11185 0 277902 0 0 0 JERED GOLD VP, MARKETING & COMMS (THRU 12/2022) 181865 0 10000 0 35929 0 19335 0 17844 0 264973 0 0 0 ROSEMARIE PICCIONI ASSOCIATE PROVOST, ACX/ONLINE ED 218772 0 0 0 1099 0 21474 0 12158 0 253503 0 0 0 DAVID MOCARSKI CHAIR, ENVIRONMENTAL DESIGN 204000 0 10000 0 4672 0 23260 0 11189 0 253121 0 0 0 GLORIA KONDRUP EXEC DIRECTOR, CENTER OF TYPOGRAPHY 218880 0 0 0 1158 0 21097 0 11130 0 252265 0 0 0 LISA SANCHEZ VP, EMPLOYEE ENGAGEMENT & EXPERIENCE 206385 0 10000 0 1059 0 23640 0 720 0 241804 0 0 0 ERIC NG FULL TIME FACULTY, ENVIRONMENTAL DES 215827 0 0 0 51 0 11259 0 11185 0 238322 0 0 0 ANNE BURDICK ACTING PROVOST 189024 0 0 0 0 0 7232 0 19081 0 215337 0 0 0 AARON BRUCE VP, CHIEF DIVERSITY OFFICER 188629 0 0 0 524 0 13870 0 720 0 203743 0 0 0 PART I, LINE 4B PRESIDENT/CEO LORNE M. BUCHMAN (WHO RETIRED IN JUNE 2022) ENTERED INTO A SPLIT INTEREST AGREEMENT WITH THE COLLEGE. MR. BUCHMAN PURCHASED A LIFE INSURANCE POLICY FOR WHICH THE COLLEGE WILL PAY THE PREMIUMS IN THE FORM OF A LOAN TO BE REPAID BY MR. BUCHMAN. THE COLLEGE PAID THE LAST PREMIUM PAYMENT ($32,857) FOR THE POLICY IN FEBRUARY 2022. PART I, LINE 7 CERTAIN INDIVIDUALS LISTED ON FORM 990, PART VII AND SCHEDULE J RECEIVED NON-FIXED PAYMENTS IN THE FORM OF BONUSES WHICH WERE NOT SPECIFIED BY A FIXED FORMULA AND WHICH REQUIRED THE USE OF DISCRETION TO DETERMINE WHETHER TO MAKE A BONUS PAYMENT AND/OR THE AMOUNT OF BONUS AWARDED. A CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY 521705592 130179PL2 2018-08-30 114304457 REFUND BOND DATED 7/16/2014 AND CONSTRUCT, EQUIP, AND IMPROVE FACILITIES 0 0 0 B CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY 521705592 130179UN2 2022-02-10 40098184 CONSTRUCT, EQUIP, AND IMPROVE FACILITIES 0 0 0 A 5260000 115641960 954606 51644409 61305000 1737945 1 0 1 1 B 545000 40778234 417901 10573128 29787205 0 0 1 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 09/19/2019 SCHEDULSCHEDULE K, PAE K, PART I, COLUMN (E) AND SCHEDULE K, PART II, LINE THE DIFFERENCE BETWEEN THE TOTAL ISSUE PRICE REPORTED ON SCHEDULE K, PART I, COLUMN (E) AND THE TOTAL PROCEEDS OF ISSUE REPORTED ON SCHEDULE K, PART II, LINE 3 PERTAINS TO INVESTMENT INCOME EARNED ON UNSPENT BOND PROCEEDS. LORNE M BUCHMAN FORMER PRESIDENT/CEO SPLIT-DOLLAR LIFE INSURANCE X 230000 230000 0 1 1 230000 X 9 202040 HIGH/LOW AVG. OF FMV 0 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS (DEFINED AS EACH SEPARATE GIFT) IN SCHEDULE M, PART I, COLUMN (B). PART I, LINE 33: THE COLLEGE RECEIVED DONATED GIFTS, INCLUDING FURNITURE AND ACCESSORIES. IT IS THE POLICY OF THE COLLEGE TO RECORD DONATED GIFTS WITH A FAIR MARKET VALUE OF $1.00 OFFSET BY A $1.00 EXPENSE. FORM 990, PART VI, SECTION A, LINE 2 TRUSTEES MERLE MULLIN AND PETER W. MULLIN HAVE A FAMILY RELATIONSHIP. PETER W. MULLIN RETIRED FROM THE BOARD ON JUNE 22, 2023. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED FIRST BY THE CONTROLLER AND THE CHIEF FINANCIAL AND ADMINISTRATIVE OFFICER. IT IS THEN REVIEWED BY THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES AND AN ELECTRONIC COPY IS MADE AVAILABLE TO THE FULL BOARD OF TRUSTEES PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE COLLEGE HAS CONFLICT OF INTEREST POLICIES THAT COVER ALL TRUSTEES AND EMPLOYEES. ALL TRUSTEES MUST ATTEST ANNUALLY THAT THEY ARE IN COMPLIANCE WITH THE APPLICABLE POLICY. THE STATEMENTS ARE REVIEWED EACH YEAR BY THE AUDIT COMMITTEE WHICH DETERMINES WHETHER OR NOT AN ACTUAL, APPARENT OR POTENTIAL CONFLICT EXISTS. THE AUDIT COMMITTEE THEN REFERS ALL ACTUAL, APPARENT, OR POTENTIAL CONFLICTS TO THE FULL BOARD OF TRUSTEES WHO WILL DETERMINE BY A TWO-THIRDS MAJORITY VOTE WHETHER OR NOT ACCEPTANCE OF THE CONFLICT IS IN THE COLLEGE'S BEST INTEREST. EMPLOYEES ARE BOUND BY A SIMILAR BUT SEPARATE CONFLICT OF INTEREST POLICY AND ACKNOWLEDGE AND AGREE TO ADHERE TO IT IN WRITING UPON BEING HIRED BY THE COLLEGE AND WHENEVER IT IS REVISED OR AMENDED. FORM 990, PART VI, SECTION B, LINE 15 A) PRESIDENT/CEO AND SENIOR VICE PRESIDENT, CHIEF FINANCIAL AND ADMINISTRATIVE OFFICER - THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS COMPARABLE DATA FROM A VARIETY OF SOURCES AND INCLUDES RESEARCH AND ADVICE FROM ONE OR MORE EXTERNAL COMPENSATION CONSULTANTS AND ATTORNEYS. THE COMPENSATION COMMITTEE THEN MAKES A RECOMMENDATION TO THE FULL BOARD OF TRUSTEES FOR APPROVAL. COMPENSATION IS REVIEWED ON AN ANNUAL BASIS. B) OTHER OFFICERS AND KEY EMPLOYEES - THE PRESIDENT/CEO SETS THE SALARIES FOR THESE POSITIONS USING COMPARABLE DATA FROM EXTERNAL SOURCES INCLUDING AT LEAST ONE PROFESSIONAL COMPENSATION CONSULTANT. COMPENSATION IS REVIEWED ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION C, LINE 19 THE ARTICLES OF INCORPORATION, BYLAWS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: NET CHANGE IN ACTUARIAL OBLIGATIONS -10,000. UNRELATED BUSINESS INCOME NOT RECORDED ON BOOKS 60,042. ARTCENTER GLOBAL LLC 1700 LIDA STREET PASADENA CA 91103 HOLDING COMPANY CA 0 0 ART CENTER COLLEGE OF DESIGN