2022-07-11T15:30:22-05:00 2021-08-31 350921680 CROWE LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2020-09-01 366112087 Columbia College Chicago COLU 3123697162 600 South Michigan Ave Chicago IL 60605 JERRY TARRER SENIOR VP OF BUSINESS AFFAIRS & CFO 2022-07-11 true JERRY TARRER 999009999 Nicole Bencik P00756195 3128997000 2020 2022-09-23 18:48:47Z Dr Kwang-Wu Kim 600 South Michigan Ave Chicago IL 60605 395373665 false X www.colum.edu X 1890 IL THE ORGANIZATION'S MISSION IS TO EDUCATE STUDENTS FOR CREATIVE OCCUPATIONS IN DIVERSE FIELDS OF ARTS AND MEDIA. 30 29 2760 100 0 23742 12373545 17238794 204443279 194390307 13813133 7762507 765029 1940807 231394986 221332415 52856270 64507906 0 98495194 95941693 0 0 2101547 86824299 87920834 238175763 248370433 -6780777 -27038018 522591069 667072943 127331336 259413767 395259733 407659176 THE ORGANIZATION'S MISSION IS TO EDUCATE STUDENTS FOR CREATIVE OCCUPATIONS IN DIVERSE FIELDS OF ARTS AND MEDIA. false false 171301448 64507906 174505737 COLUMBIA COLLEGE CHICAGO (THE COLLEGE) IS A FULLY ACCREDITED NOT-FOR-PROFIT PRIVATE COLLEGE WITH MORE THAN 120 ACADEMIC PROGRAMS AND OVER 6,700 STUDENTS. COLUMBIA COLLEGE CHICAGO AWARDS UNDERGRADUATE BACHELOR OF ARTS, BACHELOR OF FINE ARTS, BACHELOR OF MUSIC AND BACHELOR OF SCIENCE DEGREES, ALONG WITH GRADUATE MASTER OF ARTS, MASTERS OF ARTS MANAGEMENT, AND MASTERS OF FINE ART DEGREES. THE COLLEGE IS ONE OF THE LARGEST AND MOST DIVERSE PRIVATE ARTS AND MEDIA COLLEGES IN THE NATION. THE COLLEGE'S INTENT IS TO EDUCATE STUDENTS WHO WILL COMMUNICATE CREATIVELY AND SHAPE THE PUBLIC PERCEPTIONS OF ISSUES AND EVENTS AND WHO WILL AUTHOR THE CULTURE OF THEIR TIMES. THE COLLEGE HAD 6,493 STUDENTS ENROLLED IN ITS UNDERGRADUATE PROGRAMS AND 243 STUDENTS ENROLLED IN ITS GRADUATE PROGRAMS. THE UNDERGRADUATE PROGRAMS ARE OFFERED IN THREE SCHOOLS WITHIN THE COLLEGE: THE SCHOOL OF FINE AND PERFORMING ARTS; THE SCHOOL OF LIBERAL ARTS & SCIENCES; AND THE SCHOOL OF MEDIA ARTS. IN FALL 2021, THE SCHOOL OF FINE AND PERFORMING ARTS HAD AN UNDERGRADUATE ENROLLMENT OF 3,268 AND A GRADUATE ENROLLMENT OF 98. THE SCHOOL OF LIBERAL ARTS AND SCIENCES HAD AN UNDERGRADUATE ENROLLMENT OF 318 AND A GRADUATE ENROLLMENT OF 58. THE SCHOOL OF MEDIA ARTS HAD AN UNDERGRADUATE ENROLLMENT OF 2,777 AND A GRADUATE ENROLLMENT OF 87. THERE WERE 130 STUDENTS WHO DID NOT HAVE AN OFFICIAL DEPARTMENT. IN THE 2020-2021 ACADEMIC YEAR, THE COLLEGE GRANTED 1,409 DEGREES. THE SCHOOL OF FINE AND PERFORMING ARTS GRANTED 673 DEGREES (637 WERE UNDERGRADUATE), THE SCHOOL OF LIBERAL ARTS AND SCIENCES GRANTED 100 DEGREES (81 WERE UNDERGRADUATE), AND THE SCHOOL OF MEDIA ARTS GRANTED 620 DEGREES (601 WERE UNDERGRADUATE). ADDITIONALLY, 16 DEGREES WERE GRANTED TO UNDERGRADUATE STUDENTS WITHOUT ENROLLMENT IN A SPECIFIC SCHOOL. THERE ARE 17 DEPARTMENTS WITH UNDERGRADUATE PROGRAMS, AND 10 DEPARTMENTS WITH GRADUATE PROGRAMS. 33428244 0 21647436 COLUMBIA COLLEGE CHICAGO PROVIDES HOUSING, FOOD SERVICE AND RESIDENCE LIFE PROGRAMS TO ITS STUDENTS. THE COLLEGE HAS OVER 2,000 BEDS AVAILABLE TO ITS STUDENTS IN FIVE DIFFERENT RESIDENCE CENTERS ON ITS CAMPUS. 204729692 true true false false false false true false true true true false true true true true false true false true false false false true false false true true true true false false false false false false true false false false true true false false false true false false false true 9746 0 true 2760 true true true false false false false true true false false false false true false X 30 29 true false false false false false false true true false false true true true true true true true false false CA X X Matthew Jaehrling 3123697162 600 SOUTH MICHIGAN AVE Chicago IL 60605 BARRY M SABLOFF TREASURER 1.0 0.0 X X 0 0 0 HUGH C WILLIAMS VICE CHAIR 1.0 0.0 X X 0 0 0 KWANG-WU KIM PRESIDENT AND CEO, TRUSTEE, EX-OFFICIO 40.0 0.0 X X 1010456 0 264034 ROBERT J BUFORD VICE CHAIR 1.0 0.0 X X 0 0 0 SHARON DALENBERG SECRETARY 1.0 0.0 X X 0 0 0 WILLIAM WOLF CHAIR OF THE BOARD 1.0 0.0 X X 0 0 0 ALLISON GRANT WILLIAMS TRUSTEE 1.0 0.0 X 0 0 0 ANDREAS WALDBURG-WOLFEGG TRUSTEE 1.0 0.0 X 0 0 0 ARLEN RUBIN TRUSTEE 1.0 0.0 X 0 0 0 AVERILL LEVITON TRUSTEE 1.0 0.0 X 0 0 0 CAYLA WEISBERG TRUSTEE 1.0 0.0 X 0 0 0 DEVIN A GROSS TRUSTEE 1.0 0.0 X 0 0 0 FEDERICK C LOWINGER TRUSTEE 1.0 0.0 X 0 0 0 H JOHN GILBERTSON JR TRUSTEE 1.0 0.0 X 0 0 0 JAMES E KOPPS JR TRUSTEE 1.0 0.0 X 0 0 0 JAY LEIB TRUSTEE 1.0 0.0 X 0 0 0 JEFF KINNEY TRUSTEE, EX-OFFICIO 1.0 0.0 X 0 0 0 JOHN MCLAIN HOLMES TRUSTEE 1.0 0.0 X 0 0 0 JOHN R GEHRON TRUSTEE 1.0 0.0 X 0 0 0 JUDITH GOLD TRUSTEE 1.0 0.0 X 0 0 0 LEN AMATO TRUSTEE 1.0 0.0 X 0 0 0 LUIS DE LA PARRA TRUSTEE 1.0 0.0 X 0 0 0 MADELINE MOORE BURRELL TRUSTEE (PARTIAL YEAR) 1.0 0.0 X 0 0 0 MICHAEL GOI TRUSTEE 1.0 0.0 X 0 0 0 PAUL BROUCEK TRUSTEE 1.0 0.0 X 0 0 0 PAUL GARNES TRUSTEE 1.0 0.0 X 0 0 0 RICHARD POULTON TRUSTEE 1.0 0.0 X 0 0 0 ROBERT A WISLOW TRUSTEE 1.0 0.0 X 0 0 0 SONA WANG TRUSTEE 1.0 0.0 X 0 0 0 SUSAN V DOWNING TRUSTEE 1.0 0.0 X 0 0 0 TERRY DIAMOND TRUSTEE 1.0 0.0 X 0 0 0 JERRY TARRER SENIOR VP OF BUSINESS AFFAIRS & CFO 40.0 0.0 X 274465 0 45952 MARCELLA DAVID SENIOR VP AND PROVOST 40.0 0.0 X 293695 0 29234 PATRICIA BERGESON VP OF LEGAL AFFAIRS & GENERAL COUNSEL 40.0 0.0 X 229966 0 24534 ANN KALAYIL AVP FACILITIES/CONSTRUCTION 40.0 X 218925 0 9326 ERIC FREEDMAN DEAN OF SCHOOL OF MEDIA ARTS 40.0 0.0 X 207644 0 32715 MICHAEL JOSEPH VP OF ENROLLMENT MANAGEMENT 40.0 0.0 X 259200 0 44344 ROSITA SANDS DEPARTMENT CHAIR, INTERIM DEAN OF SCHOOL OF FINE AND PERFORMING ARTS 40.0 0.0 X 207930 0 22812 SHARON WILSON TAYLOR VP OF STUDENT AFFAIRS 40.0 0.0 X 217882 0 31639 STEVEN COREY DEAN OF LIBERAL ARTS SCHOOL (LAS) 40.0 0.0 X 193166 0 45041 JEFF SCHIFF DEAN OF GRADUATE STUDIES 40.0 0.0 X 198502 0 22329 KATHIE KOCH AVP AND CHIEF INFORMATION OFFICER 40.0 0.0 X 254038 0 34263 LAURENT PERNOT CHIEF OF STAFF 40.0 X 209813 0 41453 SHAWN WAX VP OF DEVELOPMENT AND ALUMNI RELATIONS 40.0 0.0 X 269162 0 45012 TERENCE SMITH SPECIAL COUNSEL LABOR RELATIONS 40.0 0.0 X 212884 0 42013 4257728 0 734701 117 true true false Universal Protection Service LLC 161 Washington Street Suite 600 Eight Tower Bridge Conshohocken PA 19428 Security Services 2837592 HARVARD MAINTENANCE INC 59 Maiden Lane FL 17 NEW YORK NY 10038 MAINTENANCE 2814862 CareATC 4500 S 129th East Avenue Suite 191 Tulsa OK 741345891 On-site healthcare services 1502170 Executive Construction Inc 235 Fenci Lane Hillside IL 60162 Construction 1481839 EAB Global PO Box 603519 Charlotte NC 282603519 School management and administration consultancy services 579759 25 0 0 223022 0 13092695 3923077 637763 17238794 TUITION AND FEES 611600 173965887 173965887 0 0 RESIDENCE CENTERS 611600 20424420 20424420 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 194390307 2495077 0 0 2495077 0 0 0 0 29524 0 0 29524 67662 0 0 0 67662 0 67662 0 0 67662 179188403 70000 173949058 41916 5239345 28084 5267430 0 0 5267430 94000 223022 19843 74157 0 74157 0 0 0 0 0 0 19621 30433 -10812 -10812 0 PERFORMANCE FEES AND BOOK SALES 611600 51721 51721 0 0 CONTRACTED EDUCATION AND TRAINING SERVICES 611600 5134 5134 0 0 COURSE MATERIALS 611600 37349 37349 0 0 1686072 1679474 0 6598 1780276 221332415 196153173 0 7940448 5000 5000 64502906 64502906 0 0 0 0 3662960 1587322 1808264 267374 0 0 0 0 69650952 55678699 13068657 903596 4217001 3293930 855717 67354 13357715 10433806 2710559 213350 5053065 3946985 1025372 80708 0 0 0 0 230479 400 230079 0 274303 0 274303 0 0 0 0 0 0 0 2875934 0 2875934 0 13300238 12067360 1185219 47659 983149 863944 119194 11 4457453 3024043 1385130 48280 6264680 1974482 4186719 103479 12147 8228 3919 0 38026746 34698896 3215912 111938 69620 30850 37848 922 0 0 0 0 883966 374055 503077 6834 4028420 10552 4017868 0 0 0 0 0 15655002 12228234 3176726 250042 858697 0 858697 0 0 0 0 0 248370433 204729692 41539194 2101547 3500 3500 6710190 3950966 1624434 1670077 2112662 2437404 0 0 0 0 0 0 0 0 7667833 3758921 430650676 215064188 228187307 215586488 119256499 126285927 156351845 184946621 0 0 0 676799 128433039 522591069 667072943 17743218 19275705 0 0 26458183 30447887 71940551 71551769 0 0 0 0 11111051 8053273 0 0 78333 130085133 127331336 259413767 X 379078890 387537109 16180843 20122067 0 0 0 0 0 0 395259733 407659176 522591069 667072943 X -27038018 38296830 1140631 X false true X true true true X 5646117 6351215 7972266 12373546 17238794 49581938 0 0 5646117 6351215 7972266 12373546 17238794 49581938 654833 48927105 3575327 4912492 5302386 3959766 2592263 20342234 16672 16672 416785 290546 243666 171287 120219 1242503 71183347 1087383862 0.6873 0.6059 X Schedule A, Part II, Line 10 Other Income DESCRIPTION - GROSS INVENTORY INCOME, COLUMN A - 249627.0, COLUMN B - 144543.0, COLUMN C - 60491.0, COLUMN D - 40097.0, COLUMN E - 19621.0, COLUMN F - 514379.0; DESCRIPTION - GROSS FUNDRAISING INCOME, COLUMN A - 72090.0, COLUMN B - 69460.0, COLUMN C - 86319.0, COLUMN D - 30310.0, COLUMN E - 94000.0, COLUMN F - 352179.0; DESCRIPTION - OTHER INCOME, COLUMN A - 95068.0, COLUMN B - 76543.0, COLUMN C - 96856.0, COLUMN D - 100880.0, COLUMN E - 6598.0, COLUMN F - 375945.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 571415 18127798 X X X X true 201677414 564039 42790089 333749 9083269 0 235614524 190972645 139082 19049789 331047 8153055 0 201677414 196912601 692133 1791231 298767 8124553 0 190972645 173049139 21035270 10843467 263445 7751830 0 196912601 141980157 20083073 19748982 226725 8536348 0 173049139 0.9392 0.0363 0.0245 false false 21898620 21898620 331184918 166369400 164815518 0 0 0 44294087 36255089 8038998 33273051 12439699 20833352 215586488 Other Equity Investments 104759660 F Alternative Investments 80186961 F 184946621 Net pension funding 1817428 Right of use assets - operating, net of amortization 126615611 128433039 Deferred Compensation Payable 41667 Lease Obligation - Operating 129342496 Lease Obligation - Finance 700970 130085133 X 193204987 38296830 0 0 0 38296830 154908157 2875934 63548324 66424258 221332415 180805544 50276 50276 180755268 2875934 64739231 67615165 248370433 Schedule D, Part III, Line 4 Collections of art - description of collections THE MUSEUM OF CONTEMPORARY PHOTOGRAPHY (MOCP) AIMS TO PROMOTE A GREATER UNDERSTANDING AND APPRECIATION OF ARTISTIC , CULTURAL AND POLITICAL IMPLICATION OF THE PHOTOGRAPHIC IMAGES IN OUR WORD TODAY AS WELL AS PRESERVE ARTIFACTS OF HISTORICAL AND CULTURAL SIGNIFICANCE. THE COLLEGE ALSO MAINTAINS A COLLECTION OF FASHION DESIGNS, PAINTINGS, DRAWINGS, AND OTHER FORMS OF ARTISTIC EXPRESSION TO PRESERVE THESE PIECES FOR THEIR HISTORICAL SIGNIFICANCE AND TO USE FOR SCHOLARLY RESEARCH AND PEDANTIC PURPOSES. Schedule D, Part V, Line 4 Intended uses of endowment funds PROVIDE FUNDING FOR SCHOLARSHIPS AND EDUCATIONAL PROGRAMS OR OTHER APPROPRIATE PURPOSES PER DONOR RESTRICTIONS AND REQUIREMENTS. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The College has received a determination letter from the Internal Revenue Service (IRS) indicating that it is a tax-exempt organization as provided in Section 501(c)(3) of the Internal Revenue Code of 1986 and, except for taxes pertaining to unrelated business income, is exempt from federal and state income taxes. No provision has been made for income taxes in the accompanying financial statements, as the College has had no significant unrelated business income. In accordance with U.S. generally accepted accounting principles (GAAP), the College recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. Based upon this practice the College, as of August 31, 2021 and 2020, believes it has no significant uncertain tax positions. Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements SCHOLARSHIPS - 63598600 FUNDRAISING - -19843 COST OF GOODS SOLD - -30433 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 FUNDRAISING EXPENSE - 19843 COST OF GOODS SOLD - 30433 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements SCHOLARSHIPS - 63598600 CHANGE IN PENSION COST - 2045608 NET PERIODIC PENSION COST - -904977 true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY Included in all recruitment materials Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT Columbia College Chicago receives support from the U.S. Department of Education, National Endowment for the Arts, Illinois State Board of Education and the Illinois Arts Council. Central America and the Caribbean 0 0 Investments 71260264 0 0 0 0 0 0 71260264 0 71260264 true false true true true false Schedule F, Part I, Line 3 Accounting Method Accrual MOCP BENEFIT (DARKROOM) 317022 223022 94000 0 0 0 7934 400 11509 0 0 317022 223022 94000 0 0 0 7934 400 11509 19843 74157 true FILTER PHOTO LTD 1821 WEST HUBBARD STE 207 CHICAGO IL 60622 462070232 501(C)(3) 5000 SUPPORT OF COMMUNITY 1 0 INSTITUTIONAL SCHOLARSHIP 6256 63598600 0 N/A N/A TUITION WAIVERS 55 904306 0 N/A N/A Schedule I, Part III, Column (b) Estimated Number Of Recipients INSTITUTIONAL SCHOLARSHIP : THE COLLEGE'S OFFICE OF STUDENT FINANCIAL SERVICES DETERMINES A STUDENT'S FINANCIAL NEED, AN INTERNAL COMMITTEE ANALYZES THE NEEDS OF ALL STUDENTS, AND BASED ON THE COMMITTEE'S ANALYSIS AID IS AWARDED AS NEEDED AND POSTED TO THE STUDENT'S ACCOUNT. Schedule I, Part III, Column (b) Estimated Number Of Recipients TUITION WAIVERS : THE COLLEGE'S OFFICE OF STUDENT FINANCIAL SERVICES DETERMINES A STUDENT'S FINANCIAL NEED, AN INTERNAL COMMITTEE ANALYZES THE NEEDS OF ALL STUDENTS, AND BASED ON THE COMMITTEE'S ANALYSIS AID IS AWARDED AS NEEDED AND POSTED TO THE STUDENT'S ACCOUNT. Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. THE COLLEGE'S OFFICE OF STUDENT FINANCIAL SERVICES DETERMINES A STUDENT'S FINANCIAL NEED, AN INTERNAL COMMITTEE ANALYZES THE NEEDS OF ALL STUDENTS, AND BASED ON THE COMMITTEE'S ANALYSIS AID IS AWARDED AS NEEDED AND POSTED TO THE STUDENT'S ACCOUNT. GRANTS AND ASSISTANCE TO OTHER ORGANIZATIONS ARE DETERMINED BY THE DEPARTMENTS TO TAKE ADVANTAGE OF THE OPPORTUNITY TO COLLABORATE WITH LEADING ARTS COMMUNITY PARTNERS AND TO PROVIDE EXPOSURE AND INTERNSHIPS TO COLUMBIA COLLEGE CHICAGO STUDENTS. THERE ARE ASSOCIATED PERFORMANCE METRICS OR BENEFITS FOR THE SPONSORSHIPS. X X true true X X false false false false false false false false false KWANG-WU KIM PRESIDENT AND CEO, TRUSTEE, EX-OFFICIO 894857 0 75000 0 40599 0 150205 0 113829 0 1274490 0 0 0 JERRY TARRER SENIOR VP OF BUSINESS AFFAIRS & CFO 273439 0 0 0 1026 0 18242 0 27710 0 320417 0 0 0 PATRICIA BERGESON VP OF LEGAL AFFAIRS & GENERAL COUNSEL 226194 0 0 0 3772 0 15133 0 9401 0 254500 0 0 0 MARCELLA DAVID SENIOR VP AND PROVOST 291664 0 0 0 2031 0 18538 0 10696 0 322929 0 0 0 MICHAEL JOSEPH VP OF ENROLLMENT MANAGEMENT 256491 0 0 0 2709 0 16962 0 27382 0 303544 0 0 0 SHARON WILSON TAYLOR VP OF STUDENT AFFAIRS 215641 0 0 0 2241 0 14401 0 17238 0 249521 0 0 0 STEVEN COREY DEAN OF LIBERAL ARTS SCHOOL (LAS) 162087 0 30000 0 1079 0 13185 0 31856 0 238207 0 0 0 ERIC FREEDMAN DEAN OF SCHOOL OF MEDIA ARTS 175033 0 30000 0 2611 0 13756 0 18959 0 240359 0 0 0 ROSITA SANDS DEPARTMENT CHAIR, INTERIM DEAN OF SCHOOL OF FINE AND PERFORMING ARTS 163198 0 43044 0 1688 0 13518 0 9294 0 230742 0 0 0 ANN KALAYIL AVP FACILITIES/CONSTRUCTION 216707 0 0 0 2218 0 0 0 9326 0 228251 0 0 0 SHAWN WAX VP OF DEVELOPMENT AND ALUMNI RELATIONS 267081 0 0 0 2081 0 17916 0 27096 0 314174 0 0 0 KATHIE KOCH AVP AND CHIEF INFORMATION OFFICER 252309 0 0 0 1729 0 16681 0 17582 0 288301 0 0 0 TERENCE SMITH SPECIAL COUNSEL LABOR RELATIONS 211031 0 0 0 1853 0 14381 0 27632 0 254897 0 0 0 JEFF SCHIFF DEAN OF GRADUATE STUDIES 155917 0 40000 0 2585 0 13080 0 9249 0 220831 0 0 0 LAURENT PERNOT CHIEF OF STAFF 209053 0 0 0 760 0 14084 0 27369 0 251266 0 0 0 Schedule J, Part I, Line 1a Housing allowance or residence for personal use PERSONAL USE OF HOUSING IS GENERALLY BASED ON THE PROVISIONS OF THE PRESIDENT'S EMPLOYMENT AGREEMENT WITH THE COLLEGE. THE VALUE OF THE HOUSING PROVIDED IS NOT TAXABLE TO THE EXTENT IT IS A CONDITION OF EMPLOYMENT AND NECESSARY TO CARRY ON HIS DUTIES. Schedule J, Part I, Line 1a Health or social club dues or initiation fees SOCIAL CLUB DUES OR INITIATION FEES ARE GENERALLY PROVIDED BASED ON THE PROVISIONS OF THE PRESIDENT'S EMPLOYMENT AGREEMENT WITH THE COLLEGE. THE COLLEGE CONSIDERS THIS TO BE A BUSINESS EXPENSE. A Illinois Finance Authority 861091967 45203H5Q1 2015-10-15 52985952 Refunding of 2003, 2007 and 2011 issues false false false B Illinois Finance Authority 861091967 45204E4S4 2019-11-20 20378049 PARTIAL REIMBURSEMENT OF NEW BUILDING CONSTRUCTION. false false false A 0 0 52985952 0 0 1235351 667246 0 0 0 51083355 0 2015 true true true true B 0 0 20378049 0 0 0 270091 0 0 20107958 0 0 2019 false false true true A false false true true false 0.0 0.0 0.0 false false true true B false false true true false 0.0 0.0 0.0 false false true A false false false true false false false false true B false true false false false false false false true A true B true Schedule K, Part II Total Proceeds of Issue The difference between the issue price of the bonds and the total proceeds of the issue listed is due to the cash transfer from the Debt Service Fund and Debt Service Reserve Fund for the Refunded Bonds and the institutional cash contribution. Schedule K, Part I, Column (c) CUSIP for issuance 11/20/2019 The CUSIP's for this issuance are 45204E4N5; 45204E4P0; 45204E4Q8; 45204E4R6; 45204E4S4 Schedule K, Part IV, Line 2c COLUMN A Issuer name: Illinois Finance Authority The calculation for computing no rebate due was performed on 11/24/2020 28359 TUITION REMISSION TUITION REMISSION Schedule L, Part III GRANTS OR ASSISTANCE BENEFITING INTERESTED PERSONS AS PER IRS INSTRUCTIONS FOR 990 SCHEDULE L, SCHOOLS ARE NOT REQUIRED TO IDENTIFY INTERESTED PERSONS TO WHOM THEY PROVIDED SCHOLARSHIPS, FELLOWSHIPS, AND SIMILAR FINANCIAL ASSISTANCE. COLUMNS (A) AND (B) SHOULD BE LEFT BLANK FOR THESE LINES. X 132 571415 Opinions of experts X 8216 Market value X 4 30364 Market value X MISCELLANEOUS - FOOD ITEMS, GAMING SYSTEM COMPONENTS, ETC. 18 26268 Market value X SERVICES - FINE ART SERVICES 1 1500 Market value 6 false true true Schedule M, Part I, Line 32b Third parties used to solicit, process, or sell noncash contributions THE COLLEGE HAS A CONSIGNMENT AGREEMENT WITH A GALLERY FOR THE SALE OF DONATED ART Schedule M, Part I Explanations of reporting method for number of contributions Art - Works of art - APPRAISALS THE NUMBER OF DONORS. Securities - Publicly traded - NUMBER OF DONORS Books and publications - NUMBER OF DONORS Other - MISCELLANEOUS - FOOD ITEMS, GAMING SYSTEM COMPONENTS, ETC. NUMBER OF DONORS Other - SERVICES - FINE ART SERVICES NUMBER OF DONORS Form 990, Part VI, Line 15b PROCESS TO ESTABLISH COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES THE PRESIDENT/CEO HAS THE AUTHORITY TO HIRE AND SET INITIAL AND ONGOING COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES. THE BOARD IS MADE AWARE OF SALARIES, BONUSES AND BENEFITS ON AN ANNUAL BASIS. Form 990, Part VI, Line 1a Delegate broad authority to a committee The Executive Committee shall consist of the Chair, Vice Chairs, Secretary, Treasurer and the Chairs of the standing committees. When the Board is not in session, the Executive Committee shall, except as otherwise provided by law, these Bylaws, or expressly by the Board of Trustees, have the authority to act for the Board on all matters except for the following, which shall be reserved for the board: Presidential selection and termination; Trustee and Board officer selection; changes in institutional mission and purposes; adoption, amendments to or repeal of the Articles of Incorporation or Bylaws; incurring corporate indebtedness; adoption of a plan for the distribution or sale of all or substantially all of the College assets or tangible property; adoption of the annual budget; and determination of the existence of an Adverse Circumstance pursuant to the College's Statement of Policy on Academic Freedom, Faculty Status, Tenure and Due Process. The Committee shall also oversee the management and development of the College's physical plant to ensure alignment with the College's mission and strategic plans. The Committee shall meet as often as necessary to conduct its business, as the Chair shall determine. Form 990, Part VI, Line 2 Family/business relationships amongst interested persons WILLIAM WOLF & TERRY DIAMOND - Business relationship Form 990, Part VI, Line 11b Review of form 990 by governing body INTERNAL MANAGEMENT WILL REVIEW THE FORM 990 WITH THE PAID TAX PREPARER. THE 990 WILL THEN BE SUBMITTED TO THE ORGANIZATION'S GENERAL COUNSEL FOR REVIEW. THE FORM IS SUBMITTED TO THE AUDIT COMMITTEE FOR REVIEW AS WELL AS THE BOARD OF TRUSTEES FOR REVIEW AND COMMENTS BEFORE IT IS FILED WITH THE IRS. THE BOARD WILL BE GIVEN A DEADLINE TO SUBMIT QUESTIONS AND COMMENTS. Form 990, Part VI, Line 12c Conflict of interest policy PURSUANT TO POLICY, DIRECTORS, OFFICERS, AND TRUSTEES ARE REQUIRED TO COMPLETE AN ANNUAL CONFLICT OF INTEREST QUESTIONNAIRE. CONFLICTS MUST BE DISCLOSED, AND ACKNOWLEDGEMENT MADE OF THE DUTY TO DISCLOSE ALL POTENTIAL CONFLICTS OF INTEREST. DISCLOSURES ARE ALSO SUBMITTED BY STAFF. DURING THE YEAR, THE BOARD OF TRUSTEES COMPLETED AND SUBMITTED CONFLICT OF INTEREST FORMS. REPORTED CONFLICTS ARE SUBMITTED TO THE AUDIT COMMITTEE FOR EVALUATION. CONFLICTED BOARD MEMBERS ARE PROHIBITED FROM VOTING ON AND PARTICIPATING IN DISCUSSION OF CONFLICTED TRANSACTIONS. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE PRESIDENTIAL EVALUATION SUBCOMMITTEE OF THE BOARD OF TRUSTEES, USING VARIOUS DATA SOURCES INCLUDING COMPARATIVE DATA, CREATES A MULTI-YEAR EMPLOYMENT CONTRACT FOR THE PRESIDENT. THE AWARDED CONTRACT IS PRESENTED TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES FOR APPROVAL AND IS RATIFIED BY THE BOARD OF TRUSTEES WHICH IS DOCUMENTED IN THE MINUTES. THIS PROCESS WAS UNDERTAKEN IN 2018. ANNUALLY, THE PRESIDENTIAL EVALUATION SUBCOMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE BASE SALARY AND PERFORMANCE BONUS FOR THE PRESIDENT. THE SUBCOMMITTEE MET ON JUNE 30, 2021, AND BASED UPON THEIR RECOMMENDATION THE ANNUAL BASE SALARY WAS INCREASED, A PERFORMANCE BONUS WAS AWARDED, AND A MODIFICATION WAS MADE TO FUTURE DEFERRED COMPENSATION PAYMENTS. THIS WAS PRESENTED TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES AND WAS SUBSEQUENTLY APPROVED. Form 990, Part VI, Line 19 Required documents available to the public AUDITED FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC ON THE ORGANIZATION'S WEBSITE. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST Form 990, Part VIII, Line 11d Other Miscellaneous Revenue Vending Commissions - Total Revenue: 6598, Related or Exempt Function Revenue: 0, Unrelated Business Revenue: 0, Revenue Excluded from Tax Under Sections 512, 513, or 514: 6598; Miscellaneous Income - Total Revenue: 340631, Related or Exempt Function Revenue: 340631, Unrelated Business Revenue: 0, Revenue Excluded from Tax Under Sections 512, 513, or 514: 0; Advertising - Total Revenue: 11803, Related or Exempt Function Revenue: 11803, Unrelated Business Revenue: 0, Revenue Excluded from Tax Under Sections 512, 513, or 514: 0; Indirect Cost Recovery - Total Revenue: 87547, Related or Exempt Function Revenue: 87547, Unrelated Business Revenue: 0, Revenue Excluded from Tax Under Sections 512, 513, or 514: 0; Rental Income related to Program Services - Total Revenue: 4000, Related or Exempt Function Revenue: 4000, Unrelated Business Revenue: 0, Revenue Excluded from Tax Under Sections 512, 513, or 514: 0; Insurance Recoveries - Total Revenue: 12877, Related or Exempt Function Revenue: 12877, Unrelated Business Revenue: 0, Revenue Excluded from Tax Under Sections 512, 513, or 514: 0; Nonoperating Revenue from related organizations - Total Revenue: 1223016, Related or Exempt Function Revenue: 1223016, Unrelated Business Revenue: 0, Revenue Excluded from Tax Under Sections 512, 513, or 514: 0; Sherwood School of Music Lesson Revenue - Total Revenue: -400, Related or Exempt Function Revenue: -400, Unrelated Business Revenue: 0, Revenue Excluded from Tax Under Sections 512, 513, or 514: 0; Form 990, Part XI, Line 9 Other changes in net assets or fund balances CHANGE IN PENSION COST - 2045608; NET PERIODIC PENSION COST - -904977; EDUCATIONAL ADVANCEMENT FUND INC 525 S STATE STREET CHICAGO IL 60605 364480416 UNIVERSITY HOUSING IL 501(c)(3) NA false false false false false false false false false false false false false true false true false false false false