2025-06-17T15:29:10+00:00 2024-08-31 350921680 CROWE LLP 701 13th St NW Suite 852 Washington DC 20005 990 2023-09-01 366112087 Columbia College Chicago COLU 3123697162 600 South Michigan Ave Chicago IL 60605 PATRICIA BERGESON VP, LEGAL AFFAIRS & GENERAL COUNSEL 2025-06-17 true Steve Lenivy P01635350 2026245555 2025-06-17 2023 2025-03-06 01:10:19Z Jerry Tarrer 600 South Michigan Ave Chicago IL 60605 342394843 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. 23 22 2836 100 3241 0 10444397 5816167 219577126 217570149 8624234 26984054 524812 341971 239170569 250712341 78381572 83056022 0 101166336 102562410 71031 65000 2151491 87532199 84589579 267151138 270273011 -27980569 -19560670 525230384 476636857 204937878 172025010 320292506 304611847 THE ORGANIZATION'S MISSION IS TO EDUCATE STUDENTS FOR CREATIVE OCCUPATIONS IN DIVERSE FIELDS OF ARTS AND MEDIA. false false 193842986 83056022 186306541 COLUMBIA COLLEGE CHICAGO (THE COLLEGE) IS A FULLY ACCREDITED, NOT-FOR-PROFIT, PRIVATE COLLEGE WITH MORE THAN 120 ACADEMIC PROGRAMS AND OVER 5,500 STUDENTS. COLUMBIA COLLEGE CHICAGO AWARDS UNDERGRADUATE BACHELOR OF ARTS, BACHELOR OF FINE ARTS, BACHELOR OF MUSIC AND BACHELOR OF SCIENCE DEGREES, ALONG WITH GRADUATE MASTERS 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 5,422 STUDENTS ENROLLED IN ITS UNDERGRADUATE PROGRAMS AND 148 STUDENTS ENROLLED IN ITS GRADUATE PROGRAMS. COLUMBIA COLLEGE CHICAGO CONSISTS OF EIGHT SCHOOLS: AUDIO AND MUSIC, BUSINESS AND ENTREPRENEURSHIP, COMMUNICATION AND CULTURE, DESIGN, FASHION, FILM AND TELEVSION, THEATRE AND DANCE, AND VISUAL ARTS. IN FALL 2024, THE SCHOOL OF AUDIO AND MUSIC HAD AN UNDERGRADUATE ENROLLMENT OF 612 AND A GRADUATE ENROLLMENT OF 25. THE SCHOOL OF BUSINESS AND ENTREPRENEURSHIP HAD AN UNDERGRADUATE ENROLLMENT OF 478 AND A GRADUATE ENROLLMENT OF 22. THE SCHOOL OF COMMUNICATION AND CULTURE HAD AN UNDERGRADUATE ENROLLMENT OF 433 AND A GRADUATE ENROLLMENT OF 32. THE SCHOOL OF DESIGN HAD AN UNDERGRADUATE ENROLLMENT OF 1,002 AND A GRADUATE ENROLLMENT OF 8. THE SCHOOL OF FASHION HAD AN UNDERGRADUATE ENROLLMENT OF 381. THE SCHOOL OF FILM AND TELEVISION HAD AN UNDERGRADUATE ENROLLMENT OF 999 AND A GRADUATE ENROLLMENT OF 37. THE SCHOOL OF THEATRE AND DANCE HAD AN UNDERGRADUATE ENROLLMENT OF 689 AND A GRADUATE ENROLLMENT OF 4. THE SCHOOL OF VISUAL ARTS HAD AN UNDERGRADUATE ENROLLMENT OF 707 AND A GRADUATE ENROLLMENT OF 19. THERE WERE 122 STUDENTS WHO DID NOT HAVE AN OFFICIAL DEPARTMENT. IN THE 2023-2024 ACADEMIC YEAR, THE COLLEGE GRANTED 1,357 DEGREES. THE SCHOOL OF AUDIO AND MUSIC GRANTED 127 DEGREES (115 WERE UNDERGRADUATE), THE SCHOOL OF BUSINESS AND ENTREPRENEURSHIP GRANTED 136 DEGREES (123 WERE UNDERGRADUATE), THE SCHOOL OF COMMUNICATION AND CULTURE GRANTED 139 DEGREES (116 WERE UNDERGRADUATE), THE SCHOOL OF DESIGN GRANTED 224 UNDERGRADUATE DEGREES, THE SCHOOL OF FASHION GRANTED 95 UNDERGRADUATE DEGREES, THE SCHOOL OF FILM AND TELEVISION GRANTED 310 DEGREES (289 WERE UNDERGRADUATE), THE SCHOOL OF THEATRE AND DANCE GRANTED 167 DEGREES (157 WERE UNDERGRADUATE), AND THE SCHOOL OF VISUAL ARTS GRANTED 159 DEGREES (147 WERE UNDERGRADUATE). 30686857 31648624 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. 224529843 true true false false false false true false true true true false true true true true false true false true false false true true false false false true true true false false false false false false false false false false true true false false false false false false false true 9013 0 true 2836 true true true false false false false true true false false false false false false X 23 22 false false false false false false false true true false false true true true true true true true false false CA IL X X Matthew Jaehrling 3123697162 600 SOUTH MICHIGAN AVE Chicago IL 60605 BARRY M SABLOFF SECRETARY 1.0 0.0 X X 0 0 0 HUGH C WILLIAMS VICE CHAIR 1.0 0.0 X X 0 0 0 JERRY TARRER INTERIM PRESIDENT and CEO - Partial Year 40.0 0.0 X X 300631 0 63216 JOHN MCLAIN HOLMES CHAIRMAN OF THE BOARD 1.0 0.0 X X 0 0 0 KWANG-WU KIM PRESIDENT AND CEO, TRUSTEE, EX-OFFICIO - Partial Year 40.0 0.0 X X 917404 0 292875 ALLISON GRANT WILLIAMS TRUSTEE - Partial Year 1.0 0.0 X 0 0 0 ANDREAS WALDBURG-WOLFEGG TRUSTEE 1.0 0.0 X 0 0 0 ARJUN AGGARWAL TRUSTEE - Partial Year 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 - Partial Year 1.0 0.0 X 0 0 0 IMAD I QASIM TRUSTEE 1.0 0.0 X 0 0 0 JOHN R GEHRON TRUSTEE 1.0 0.0 X 0 0 0 KAREN JONES TRUSTEE, EX-OFFICIO 1.0 0.0 X 0 0 0 LEN AMATO TRUSTEE 1.0 0.0 X 0 0 0 LUIS DE LA PARRA TRUSTEE - Partial Year 1.0 0.0 X 0 0 0 MELISSA DALRYMPLE TRUSTEE - Partial Year 1.0 0.0 X 0 0 0 MICHAEL GOI TRUSTEE - Partial Year 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 PETER PACE JR TRUSTEE - Partial Year 1.0 0.0 X 0 0 0 PHIL ALPHONSE TRUSTEE - Partial Year 1.0 0.0 X 0 0 0 RICH NANDA TRUSTEE - Partial Year 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 ROBERT J BUFORD TRUSTEE 1.0 0.0 X 0 0 0 SONA WANG TRUSTEE - Partial Year 1.0 0.0 X 0 0 0 STACI R COLLINS JACKSON TRUSTEE 1.0 0.0 X 0 0 0 SUSAN V DOWNING TRUSTEE 1.0 0.0 X 0 0 0 WILLIAM WOLF TRUSTEE 1.0 0.0 X 0 0 0 MARCELLA DAVID SENIOR VP AND PROVOST 40.0 0.0 X 303201 0 41776 PATRICIA BERGESON VP OF LEGAL AFFAIRS & GENERAL COUNSEL 40.0 0.0 X 239659 0 39220 MICHAEL JOSEPH VP OF ENROLLMENT MANAGEMENT 40.0 0.0 X 289320 0 68928 ROSITA SANDS DEPARTMENT CHAIR, DEAN OF SCHOOL OF FINE AND PERFORMING ARTS 40.0 0.0 X 215411 0 36135 SHARON WILSON TAYLOR VP OF STUDENT AFFAIRS 40.0 0.0 X 226542 0 48341 STEVEN COREY DEAN OF LIBERAL ARTS SCHOOL (LAS) 40.0 0.0 X 212914 0 61216 ANN KALAYIL AVP FACILITIES/CONSTRUCTION 40.0 0.0 X 228607 0 38941 KATHIE KOCH AVP AND CHIEF INFORMATION OFFICER 40.0 0.0 X 266062 0 50767 LAURENT PERNOT CHIEF OF STAFF 40.0 0.0 X 225561 0 59908 MIRIAM SMITH VP OF DEVELOPMENT AND ALUMNI RELATIONS 40.0 0.0 X 242664 0 23823 TERENCE SMITH SPECIAL COUNSEL LABOR RELATIONS 40.0 0.0 X 233196 0 25086 3901172 0 850232 133 false true false Universal Protection Service LLC 161 Washington Street Suite 600 Eight Tower Bridge Conshohocken PA 19428 Security Services 3199524 HARVARD MAINTENANCE INC 59 Maiden Lane FL 17 NEW YORK NY 10038 MAINTENANCE AND CLEANING 3109226 PEPPER CONSTRUCTION COMPANY 411 LAKE ZURICH ROAD BARRINGTON IL 60010 GENERAL CONTRACTOR 2809651 AHEAD INC 401 N Michigan Ave Suite 3400 CHICAGO IL 60611 IT MAINTENANCE 936971 AGAE CONTRACTORS INC 189 Gordon Street Elk Grove IL 60007 GENERAL CONTRACTOR 860988 36 0 0 951285 0 1201377 3663505 329841 5816167 TUITION AND FEES 611600 185921525 185921525 0 0 RESIDENCE CENTERS 611600 31648624 31648624 0 0 0 0 0 0 217570149 3316862 0 3241 3313621 0 0 0 0 13824 0 0 13824 48630 0 0 0 48630 0 48630 0 0 48630 114947500 0 91280308 0 23667192 0 23667192 0 0 23667192 167815 951285 309341 -141526 0 -141526 0 0 0 0 0 0 112960 92853 20107 20107 MUSEUM PUBLICATIONS 611600 84920 84920 0 0 PERFORMANCE FEES AND BOOK SALES 611600 41937 41937 0 0 VENDING COMMISSIONS 611600 15920 15920 258159 258159 0 0 400936 250712341 217955165 3241 26937768 83056022 83056022 3356789 1467316 1633673 255800 74051017 58800545 14409715 840757 4504390 3507010 933571 63809 15231668 11859012 3156885 215771 5418546 4218750 1123037 76759 24341 24341 161424 161424 65000 65000 3154230 3154230 12149083 10184460 1903368 61255 924808 444566 479066 1176 3114727 3102885 11842 6346225 2183114 4035387 127724 11621 8358 3263 37119472 33137954 3852804 128714 1029648 755152 260551 13945 1897116 1169191 620606 107319 3807584 2665 3804919 13656782 10632843 2830477 193462 1192518 1192518 0 0 0 0 270273011 224529843 43591677 2151491 5500 5645 6768607 4380415 1922435 2449647 2113355 2205720 0 0 0 0 3065536 4121650 443843314 244709277 207133456 199134037 55990925 62962194 165007740 139634599 0 83222830 61742950 525230384 476636857 22338089 13563557 0 0 21645972 18787859 69393405 67163137 0 0 0 0 5780654 0 0 0 85779758 72510457 204937878 172025010 X 301067227 282298384 19225279 22313463 0 0 0 0 0 0 320292506 304611847 525230384 476636857 X -19560670 4160755 19950 -300694 X false true X true true true X 12373546 17238794 16737588 10486833 5816167 62652928 0 0 12373546 17238794 16737588 10486833 5816167 62652928 0 62652928 3959766 2592263 3156935 3796434 3379316 16884714 16672 16672 171287 120219 195400 264891 296695 1048492 80602806 1047224043 0.7773 0.7612 X Schedule A, Part II, Line 10 Other Income DESCRIPTION - GROSS INVENTORY INCOME, COLUMN A - 40097.0, COLUMN B - 19621.0, COLUMN C - 64704.0, COLUMN D - 98441.0, COLUMN E - 112960.0, COLUMN F - 335823.0; DESCRIPTION - GROSS FUNDRAISING INCOME, COLUMN A - 30310.0, COLUMN B - 94000.0, COLUMN C - 100271.0, COLUMN D - 128645.0, COLUMN E - 167815.0, COLUMN F - 521041.0; DESCRIPTION - OTHER INCOME, COLUMN A - 100880.0, COLUMN B - 6598.0, COLUMN C - 30425.0, COLUMN D - 37805.0, COLUMN E - 15920.0, COLUMN F - 191628.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 16000 19543578 X X X X true 201842538 621514 27151914 464423 37178000 191973543 192071841 793522 19892607 538432 10377000 201842538 235614524 -150891 -33779532 409536 9202724 192071841 201677414 564039 42790089 333749 9083269 0 235614524 190972645 139082 19049789 331047 8153055 0 201677414 0.9211 0.0478 0.0311 false false 21898620 21898620 347069135 202840287 144228848 32791208 24864155 7927053 42084351 17004835 25079516 199134037 Other Equity Investments 78339887 F Alternative Investments 61294712 F 139634599 Net pension funding Right of use assets - operating, net of amortization 61742950 61742950 Deferred Compensation Payable 0 Lease Obligation - Operating 65219852 Lease Obligation - Finance 190726 Asset retirement obligation 7099879 72510457 X 170639399 4160755 19950 1065201 5245906 165393493 3154230 82164618 85318848 250712341 186320058 1768089 1768089 184551969 3154230 82566812 85721042 270273011 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 WORLD 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 THE ENDOWMENT IS DESIGNED TO PROVIDE A SECURE, LONG-TERM SOURCE OF FUNDS TO (A) FUND SPECIALS PROGRAMS; (B) ENSURE LONG-TERM GROWTH; AND (C) SUPPORT THE ADMINISTRATIVE EXPENSES OF THE COLLEGE AS DEEMED APPROPRIATE. 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, 2024 and 2023, believes it has no significant uncertain tax positions. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 GAIN ON RECOGNITION OF CHANGE OF PENSION STATUS - 1065201 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements SCHOLARSHIPS - 82566812 FUNDRAISING DIRECT EXPENSES - -309341 COST OF GOOD SOLD - -92853 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 FUNDRAISING DIRECT EXPENSES - 309341 COST OF GOOD SOLD - 92853 NET PERIODIC PENSION COST - 1292211 LOSS ON EXTINGUISHMENT OF DEBT - 73684 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements SCHOLARSHIPS - 82566812 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 56161204 Central America and the Caribbean 0 0 Program Services RECRUITING 58 Europe (Including Iceland and Greenland) 0 0 Program Services STUDY ABROAD, RECRUITING, CONFERENCES, RESEARCH 107666 Middle East and North Africa 0 0 Program Services RECRUITING 1451 North America (Canada & Mexico only) 0 0 Program Services RECRUITING, CONFERENCES, STUDY ABROAD, RESEARCH 26534 South America 0 0 Program Services RECRUITING, STUDY ABROAD, RESEARCH 9171 South Asia 0 0 Program Services RECRUITING 2930 East Asia and the Pacific 0 0 Program Services RECRUITING 2476 0 0 0 0 0 0 56311490 0 56311490 true false true true true false Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN-Accrual; EAST ASIA AND THE PACIFIC-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual; MIDDLE EAST AND NORTH AFRICA-Accrual; NORTH AMERICA (CANADA & MEXICO ONLY)-Accrual; SOUTH AMERICA-Accrual; SOUTH ASIA-Accrual X X X X X X X true Patricia Hurley and Associates Inc 70 West Madison Street Suite 200 Chicago IL 60602 FUNDRAISER CONSULTANT false 727404 65000 662404 727404 65000 662404 AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY SUMMER GALA 391695 292995 98700 0 0 6472 20233 3381 38529 WINTER GALA 727404 658289 69115 0 0 0 65425 0 175301 0 1119099 951284 167815 0 0 6472 85658 3381 213830 309341 -141526 Schedule G, Part I, Line 2b(v) payment of fees or payment of expenses PATRICIA HURLEY AND ASSOCIATES, INC.-REIMBURSABLE EXPENSES WERE BILLED SEPARATELY, AND THE CONTRACT INCLUDED A FLAT FEE FOR FUNDRAISER SERVICES.; true INSTITUTIONAL SCHOLARSHIP 6292 82566812 TUITION WAIVERS 32 489210 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. X X true true X X false true false false false false false false false JERRY TARRER INTERIM PRESIDENT and CEO - Partial Year 268165 0 0 0 32466 0 30750 0 32466 0 363847 0 0 0 KWANG-WU KIM PRESIDENT AND CEO, TRUSTEE, EX-OFFICIO - Partial Year 570094 0 58500 0 288810 0 161318 0 131557 0 1210279 0 125000 0 PATRICIA BERGESON VP OF LEGAL AFFAIRS & GENERAL COUNSEL 235328 0 0 0 4331 0 26685 0 12535 0 278879 0 0 0 MARCELLA DAVID SENIOR VP AND PROVOST 301075 0 0 0 2126 0 30750 0 11026 0 344977 0 0 0 MICHAEL JOSEPH VP OF ENROLLMENT MANAGEMENT 285743 0 0 0 3577 0 32081 0 36847 0 358248 0 0 0 SHARON WILSON TAYLOR VP OF STUDENT AFFAIRS 224198 0 0 0 2344 0 25381 0 22960 0 274883 0 0 0 STEVEN COREY DEAN OF LIBERAL ARTS SCHOOL (LAS) 171643 0 31875 0 9396 0 24095 0 37121 0 274130 0 0 0 ROSITA SANDS DEPARTMENT CHAIR, DEAN OF SCHOOL OF FINE AND PERFORMING ARTS 169829 0 41875 0 3707 0 23704 0 12431 0 251546 0 0 0 KATHIE KOCH AVP AND CHIEF INFORMATION OFFICER 264235 0 0 0 1827 0 26917 0 23850 0 316829 0 0 0 TERENCE SMITH SPECIAL COUNSEL LABOR RELATIONS 230570 0 0 0 2626 0 23389 0 1697 0 258282 0 0 0 LAURENT PERNOT CHIEF OF STAFF 224744 0 0 0 817 0 23050 0 36858 0 285469 0 0 0 ANN KALAYIL AVP FACILITIES/CONSTRUCTION 226252 0 0 0 2355 0 25432 0 13509 0 267548 0 0 0 MIRIAM SMITH VP OF DEVELOPMENT AND ALUMNI RELATIONS 242274 0 0 0 390 0 11250 0 12573 0 266487 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. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan KWANG-WU KIM PARTICIPATES IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. THE PLAN MADE DISTRIBUTIONS OF $250,000 DURING CALENDAR YEAR 2023. THIS AMOUNT IS INCLUDED IN SCHEDULE J, PART II, COLUMN (B)(III). DURING THE ACADEMIC YEAR 2023-2024, $250,000 WAS ACCRUED INTO THIS NONQUALIFIED PLAN. $125,000 OF THIS AMOUNT WAS ACCRUED DURING CALENDAR YEAR 2023 AND IS INCLUDED IN SCHEDULE J, PART II, COLUMN, (C). 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 4090000 52985952 0 0 0 667246 0 0 0 52318706 0 2015 true true true true B 0 0 20378049 0 0 0 378049 0 0 20000000 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 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 X 61 130975 Opinions of experts X 8 168092 Market value X 237 4704 Cost X EQUIPMENT (MOVIE PROPS, FABRIC, AV EQUIPMENT) 12 26070 Market value 8 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 ITEMS Securities - Publicly traded - NUMBER OF DONORS Other - EQUIPMENT (MOVIE PROPS, FABRIC, AV EQUIPMENT) - NUMBER OF ITEMS Food inventory - NUMBER OF ITEMS 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, the 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 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 COMMITTEE 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. ANNUALLY, THE PRESIDENTIAL EVALUATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE BASE SALARY AND PERFORMANCE BONUS FOR THE PRESIDENT. THE COMMITTEE MET ON JUNE 7, 2023, 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 CONTRACTED EDUCATION & TRAINING SERVICES - Total Revenue: 10000, Related or Exempt Function Revenue: 10000, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; COST RECOVERIES, NONPROFIT RENTALS, ADVERTISING - Total Revenue: 248159, Related or Exempt Function Revenue: 248159, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Form 990, Part XI, Line 9 Other changes in net assets or fund balances CHANGE IN PENSION COST - 1065201; NET PERIODIC PENSION COST - -1292211; LOSS ON EXTINGUISHMENT OF DEBT - -73684;