2021-04-14T09:56:55-05:00 2020-05-31 560574444 CHERRY BEKAERT LLP 401 EAST JACKSON ST SUITE 1200 TAMPA FL 33602 990 2019-06-01 590637903 RINGLING COLLEGE OF ART AND DESIGN INC RING 9413515100 2700 NORTH TAMIAMI TRAIL SARASOTA FL 34234 LARRY R THOMPSON PRESIDENT 9413597514 2021-03-31 1 AMANDA ADAMS P00748038 8132511010 2019 2022-09-23 18:48:47Z LARRY R THOMPSON 2700 NORTH TAMIAMI TRAIL SARASOTA FL 34234 120881223 0 X WWW.RINGLING.EDU X 1931 FL RINGLING COLLEGE OF ART AND DESIGN IS A SMALL, PRIVATE COLLEGE OFFERING PROGRAMS LEADING TO DEGREES THAT PREPARE STUDENTS TO BE DISCERNING VISUAL THINKERS AND ETHICAL PRACTITIONERS IN THEIR CHOSEN AREA OF ART AND DESIGN. RINGLING'S CURRICULUM BALANCES THE TEACHING OF TECHNICAL KNOWLEDGE AND SKILLS WITH THE DEVELOPMENT OF CRITICAL, CONCEPTUAL, AND CREATIVE ABILITIES AND SUPPORTS COURSES THAT PROVIDE HISTORICAL, MULTICULTURAL, GLOBAL, AND FUTURE PERSPECTIVES. IN ADDITION TO ITS DEGREE PROGRAM, RINGLING COLLEGE OFFERS COURSES, LECTURES, EXHIBITIONS, AND OTHER ART-RELATED SERVICES TO THE LOCAL AND REGIONAL COMMUNITY THROUGH ITS GALLERY, LIBRARY, CONTINUING EDUCATION, AND COMMUNITY SERVICE PROGRAMS. 39 37 1200 395 -126646 0 16874251 23230524 86470558 90966385 2642265 858634 -216284 -272190 105770790 114783353 18117856 20068740 0 0 34513549 36755378 81656 18025 2731845 38190212 43424930 90903273 100267073 14867517 14516280 333137303 394615231 151253041 195659175 181884262 198956056 X SEE SCHEDULE O 0 0 70111033 19690107 77075779 TUITION AND FEES: RINGLING COLLEGE OF ART AND DESIGN PROVIDES INSTRUCTION IN VISUAL ARTS EDUCATION TO OVER 1,600 STUDENTS IN FULLY ACCREDITED FOUR-YEAR DEGREE PROGRAMS LEADING TO BFA AND BA DEGREES. 11723388 281325 11659972 AUXILIARY: RINGLING COLLEGE OF ART AND DESIGN OPERATES VARIOUS AUXILIARY ENTERPRISES INCLUDING DINING SERVICES, HOUSING, AND BOOKSTORE SERVICES IN SUPPORT OF A RESIDENTIAL COMMUNITY WHICH SUPPORTS STUDENT DEVELOPMENT AND FOR THE CONVENIENCE OF ITS STUDENTS, FACULTY AND STAFF. 6121675 97308 2230634 COMMUNITY OUTREACH: RINGLING COLLEGE OF ART AND DESIGN PROVIDES VISUAL AND LIBERAL ARTS INSTRUCTION FOR THE COMMUNITY THROUGH VARIOUS PROGRAMS ON A NON-CREDIT BASIS. 87956096 1 1 0 1 0 0 0 1 1 1 1 0 0 0 1 1 1 0 1 1 1 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 1 2304 0 1 1200 1 1 1 0 0 0 0 1 1 1 1 0 0 0 0 0 X 39 37 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 FL X MONICA WAID 9413597514 2700 N TAMIAMI TRAIL SARASOTA FL 34234 JEAN MARTIN CHAIR 1.00 X X 0 0 0 GEORGE MILES VICE CHAIR 1.00 X X 0 0 0 MICHAEL KLEIN TREASURER 1.00 X X 0 0 0 ROSEMARY OBERNDORF SECRETARY 1.00 X X 0 0 0 RAVINDRANATH AKHOURY TRUSTEE 1.00 X 0 0 0 ALI M BAHAJ TRUSTEE 1.00 X 0 0 0 ROBERT BARTNER TRUSTEE 1.00 X 0 0 0 RICHARD BASCH TRUSTEE 1.00 X 0 0 0 DR ALEX BEAVERS JR TRUSTEE 1.00 X 0 0 0 ELAINE CROUSE TRUSTEE 1.00 X 0 0 0 MAURICE CUNNIFFE TRUSTEE 1.00 X 0 0 0 ARIANE DART TRUSTEE 1.00 X 0 0 0 LINDA DICKINSON TRUSTEE 1.00 X 0 0 0 DEAN EISNER TRUSTEE 1.00 X 0 0 0 JAMES ERICSON TRUSTEE 1.00 X 0 0 0 ROBERT A ESSNER TRUSTEE 1.00 X 0 0 0 HERMAN FRANKEL TRUSTEE 1.00 X 0 0 0 LARRY GARBERDING TRUSTEE 1.00 X 0 0 0 TERI HANSEN TRUSTEE 1.00 X 0 0 0 STEVE HUTCHINSON TRUSTEE 1.00 X 0 0 0 WILLIAM ISAAC TRUSTEE 1.00 X 0 0 0 CHERYL LOEFFLER TRUSTEE 1.00 X 0 0 0 FLORA MAJOR TRUSTEE 1.00 X 0 0 0 RUSSELL MANK TRUSTEE 1.00 X 0 0 0 NANCY MARKLE TRUSTEE 1.00 X 0 0 0 FRANK MARTUCCI TRUSTEE 1.00 X 0 0 0 MARY ANN MEYER TRUSTEE 1.00 X 0 0 0 JONATHAN MITCHELL TRUSTEE 1.00 X 0 0 0 DR JOEL MORGANROTH TRUSTEE 1.00 X 0 0 0 KARL NEWKIRK TRUSTEE 1.00 X 0 0 0 ISABEL NORTON TRUSTEE 1.00 X 0 0 0 BRANDON OLDENBURG TRUSTEE 1.00 X 0 0 0 SUSAN PALMER TRUSTEE 1.00 X 0 0 0 CAROL PHILLIPS TRUSTEE 1.00 X 0 0 0 SAMUEL SAMELSON TRUSTEE 1.00 X 0 0 0 JANET B SCHMIDT TRUSTEE 1.00 X 0 0 0 WILLIE M STANFIELD TRUSTEE 1.00 X 0 0 0 DALE STROHL TRUSTEE 1.00 X 0 0 0 PETER WEILL TRUSTEE 1.00 X 22950 0 0 DR LARRY R THOMPSON PRESIDENT 40.00 X 610632 0 49862 DR TRACY A WAGNER VP FOR FINANCE & ADMINISTRATION 40.00 X 244736 0 29994 CHRISTINE C DEGEORGE VP FOR HUMAN & ORGANIZATIONAL DEV. 40.00 X 217448 0 29100 DR PETER A MCALLISTER VP FOR ACADEMIC AFFAIRS 40.00 X 200575 0 22636 DAVID H JACKSON ASSOCIATE VP FOR ACADEMIC AFFAIRS 40.00 X 167642 0 16483 DR MAHMOUD PEGAH DIRECTOR OF INSTITUTIONAL TECHNOLOGY 40.00 X 217016 0 21295 STACEY CORLEY VP FOR ADVANCEMENT 40.00 X 229677 0 29086 DR TAMMY WALSH VP FOR STUDENT LIFE/DEAN OF STUDENTS 40.00 X 180019 0 19299 JAMES DEAN DEAN OF ADMISSIONS 40.00 X 160988 0 16155 2251683 0 233910 50 0 1 0 WILLIS A SMITH CONSTRUCTION 5001 LAKEWOOD RANCH BLVD N SARASOTA FL 34240 CONSTRUCTION SERVICES 19812832 CHARTWELLS DINING SERVICES 2400 YORKMONT RD CHARLOTTE NC 28217 DINING SERVICES 2484094 AYERSSAINTGROSS INCORPORATED 1040 HULL ST STE 100 BALTIMORE MD 21230 DESIGN SERVICES 2196624 CUSTODIAL MAINTENANCE INC 6222 TOWER LANE STE A-7 SARASOTA FL 34240 CUSTODIAL SERVICES 1399371 TOM WESSEL CONSTRUCTION CORP 2639 FRUITVILLE RD 303 SARASOTA FL 34240 CONSTRUCTION SERVICES 719204 21 35488 983104 1073270 21138662 264012 23230524 TUITION & FEES 900099 77075779 77075779 AUXILIARY SERVICES 900099 11659972 11659972 COMMUNITY OUTREACH 900099 2230634 2230634 90966385 2039584 2039584 106655 15888 90767 90767 90767 3945592 5092771 33771 -1147179 -33771 -1180950 -1180950 353068 983104 828154 -475086 -163056 -312030 5250 3929 1321 1321 234165 123357 110808 36410 74398 114783353 90966385 -126646 713090 57514 57514 20011226 20011226 1162847 1162847 27583556 23940406 2245287 1397863 881667 776128 58035 47504 5108791 4214716 708795 185280 2018517 1727818 194980 95719 136793 100945 35848 105751 105751 38625 38625 18025 18025 104087 104087 8739693 7986700 311488 441505 1211830 954319 178397 79114 3260592 2412527 738413 109652 2240117 1984350 164278 91489 4368407 4057112 260030 51265 772582 653277 73641 45664 403156 323887 45730 33539 4749701 4625077 124624 14284585 13628293 558158 98134 305829 301087 3498 1244 LEASE CONTRACT SETTLEME 2212241 2212241 STUDENT RELATED EXPENSE 260747 260747 230194 40912 189282 100267073 87956096 9579132 2731845 28049741 47907181 16787168 19670499 228804 336430 2485005 2293209 384971266 123169581 225268294 261801685 52191773 54816563 14733 12992 8111785 7776672 333137303 394615231 14047388 15214435 1319260 507073 122839293 167156441 435830 341908 6157895 10734047 6453375 1705271 151253041 195659175 X 109456223 133348253 72428039 65607803 181884262 198956056 333137303 394615231 X 14516280 2947377 -391863 X 0 1 X 1 1 1 X 11987621 15048698 18408214 16874251 23230525 85549309 11987621 15048698 18408214 16874251 23230525 85549309 9452453 76096856 1631081 1306309 1730708 2147311 2146239 8961648 94510957 387156249 0.80520 0.81610 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 42467 42467 0 PART II-B, LINE 1: THE COLLEGE IS A MEMBER OF AN ASSOCIATION OF INDEPENDENT COLLEGES WHOSE LOBBYING ACTIVITIES ARE RELATED TO THE CONTINUATION OF FLORIDA EFFECTIVE ACCESS TO STUDENT EDUCATION WHICH BENEFITS FLORIDA STUDENTS AT PRIVATE COLLEGES. THE COLLEGE ALSO RETAINS A CONSULTING FIRM FOR REPRESENTATION AS NEEDED BEFORE THE FLORIDA LEGISLATURE, EXECUTIVE BRANCH, AND ANY OTHER LOCAL GOVERNMENT AGENCIES. 15000 5730308 X X 1 0 1 X 54520304 3729714 2934715 1575175 1365475 58244083 53129338 2332285 1030381 1680775 290925 54520304 47488859 4587185 2909744 1606450 250000 53129338 42091138 2038759 4626200 1101881 165357 47488859 45846003 553041 -2707933 1380175 219798 42091138 0.33950 0.56050 0.10000 1 0 1845000 47445383 49290383 171069655 69072319 101997336 31722712 12808591 18914121 98717890 39859048 58858842 34170626 1429623 32741003 261801685 ANNUITY PAYABLE 1064074 STUDENT DEPOSITS 641197 1705271 X 96587616 2947377 355429 -22399555 -19096749 115684365 104087 -1005099 -901012 114783353 79515822 355429 33771 971328 1360528 78155294 104087 22007692 22111779 100267073 PART III, LINE 1A: THE COLLEGE'S COLLECTIONS INCLUDE WORKS OF ART THAT ARE MAINTAINED IN THE COLLEGE'S GALLERIES AND LIBRARY AND LOANED TO ON-CAMPUS DEPARTMENTS AND LOCAL ENTITIES. THESE COLLECTIONS ARE PROTECTED AND PRESERVED FOR PUBLIC EXHIBITION, EDUCATION AND RESEARCH. EACH OF THE ITEMS IS CATALOGED, PRESERVED AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED PERIODICALLY. THE COLLECTIONS, WHICH WERE ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE COLLEGE'S INCEPTION, ARE NOT RECOGNIZED AS ASSETS IN THE STATEMENTS OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN NET ASSETS WITHOUT DONOR RESTRICTIONS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED OR IN NET ASSETS WITH DONOR RESTRICTIONS IF THE ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS. PART III, LINE 4: THE COLLEGE'S COLLECTIONS INCLUDE PAINTINGS, PRINTS AND SCULPTURE REFLECTING A MYRIAD OF ARTISTIC STYLES DONATED BY INDIVIDUALS TO THE COLLEGE FOR SELECTIVE PUBLIC DISPLAY. THE COLLECTION SERVES AS AN IMPORTANT CULTURAL RESOURCE FOR OUR STUDENTS, FACULTY, STAFF AND COMMUNITY SERVING TO EDUCATE AND INSPIRE. THE COLLEGE'S COLLECTIONS INCLUDE WORKS OF ART THAT ARE MAINTAINED IN THE COLLEGE'S GALLERIES AND LIBRARY AND LOANED TO ON-CAMPUS DEPARTMENTS AND LOCAL ENTITIES. THESE COLLECTIONS ARE PROTECTED AND PRESERVED AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED PERIODICALLY. PART IV, LINE 2B: FUNDS HELD IN CUSTODY FOR OTHERS PRIMARILY RELATES TO STUDENT ORGANIZATIONS. PART V, LINE 4: ENDOWMENT FUNDS ARE USED TO SUPPORT STUDENT SCHOLARSHIPS, ACADEMIC PROGRAMS, MUSEUM AND CONTINUING EDUCATION PROGRAMS, AND INSTITUTIONAL SUPPORT. PART X, LINE 2: A RULING FROM THE U.S. TREASURY DEPARTMENT, DATED MAY 19, 1938, STATES THAT RINGLING SCHOOL OF ART AND DESIGN IS EXEMPT FROM FEDERAL INCOME TAX UNDER THE PROVISIONS OF 101(6) OF THE REVENUE ACT OF 1936, WHICH IS NOW 501(C)(3) OF THE 1986 CODE. HOWEVER, THE COLLEGE'S UNRELATED BUSINESS INCOME IS SUBJECT TO INCOME TAX AT CORPORATE RATES. THE COLLEGE'S POLICY IS TO RECORD A LIABILITY FOR ANY BENEFICIAL TAX POSITION, EXCLUDING ANY RELATED INTEREST AND PENALTIES, WHEN IT IS MORE LIKELY THAN NOT THE POSITION TAKEN BY MANAGEMENT WITH RESPECT TO A TRANSACTION OR CLASS OF TRANSACTIONS WILL BE OVERTURNED BY A TAXING AUTHORITY UPON EXAMINATION. MANAGEMENT BELIEVES THERE ARE NO SUCH POSITIONS AS OF MAY 31, 2020 AND MAY 31, 2019 AND, ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIP ALLOWANCE SHOWN NET OF REVENUE ON FINANCIALS -19,416,818. AUXILIARY ALLOWANCE (SCHOLARSHIPS) -281,325. CSSP & ART CENTER (SCHOLARSHIPS) -97,308. CHANGE IN VALUE OF GIFTED ARTWORK -350,000. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -41,863. RELEASE OF CONTRACTUAL OBLIGATIONS -2,212,241. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -15,888. FUNDRAISING EVENT EXPENSES -828,154. GAMING ACTIVITIES EXPENSES -3,929. COST OF GOODS SOLD -123,357. LOSS ON EQUIPMENT -33,771. PART XII, LINE 2D - OTHER ADJUSTMENTS: GAMING ACTIVITIES EXPENSES 3,929. RENTAL EXPENSES 15,888. COST OF GOODS SOLD 123,357. FUNDRAISING EVENT EXPENSES 828,154. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP ALLOWANCE SHOWN NET OF REVENUE ON FINANCIALS 19,416,818. AUXILIARY ALLOWANCE (SCHOLARSHIPS) 281,325. CSSP & ART CENTER (SCHOLARSHIPS) 97,308. RELEASE OF CONTRACTUAL OBLIGATIONS 2,212,241. 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 POLICY IS PUBLISHED ON THE COLLEGE'S WEBSITE FOR PROSPECTIVE STUDENT APPLICANTS. SCHEDULE E, PART I, LINE 6 FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENTAL AGENCY IS DISTRIBUTED TO STUDENTS USING FEDERALLY APPROVED FINANCIAL NEED ANALYSIS CRITERIA. CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES RECRUITING 2446 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES RECRUITING 107040 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 BOARD MEETINGS 972 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 FUNDRAISING 13309 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES RECRUITING 25178 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES RESEARCH 1342 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES SEMINARS & CONFERENCES 10047 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES RECRUITING 1328 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES STUDY ABROAD 500 NORTH AMERICA 0 0 PROGRAM SERVICES RECRUITING 647 NORTH AMERICA 0 0 PROGRAM SERVICES SEMINARS & CONFERENCES 6210 NORTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD 341 NORTH AMERICA 0 1 PROGRAM SERVICES REMOTE EMPLOYEE 33500 NORTH AMERICA 0 0 FUNDRAISING 102089 RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES RECRUITING 314 SOUTH AMERICA 0 0 PROGRAM SERVICES SEMINARS & CONFERENCES 1339 SOUTH ASIA 0 0 PROGRAM SERVICES RECRUITING 12197 0 0 0 1 0 1 161662 157137 318799 0 0 0 0 0 0 PART I, LINE 3: EXPENDITURES ARE RECORDED ON AN ACCRUAL BASIS. PART III ACCOUNTING METHOD: X X X X X X X 1 BENTZ WHALEY FLESSNER 7251 OHMS LANE MINNEAPOLIS MN 55439 STRATEGIC FUNDRAISING CONSULTANT 0 0 8050 -8050 MARK D TAYLOR 8919 12TH AVENUE NW BRADENTON FL 34209 GRANT WRITER 0 0 9975 -9975 18025 -18025 FL SAM GALA 936113 793688 142425 100235 2940 297310 ART TOUR 171509 171509 69720 88648 176197 3 228550 189416 39134 2200 7253 860 82791 1336172 983104 353068 102435 79913 89508 556298 828154 -475086 1 IMAGINARIUM LLC 730 S STERLING AVE STE 201 TAMPA FL 33609 352394896 10000 SUPPORT LOCAL COMIC ILLUSTRATION CONVENTION ECONOMIC DEVELOPMENT CORPORATION 1680 FRUITVILLE RD STE 402 SARASOTA FL 34236 201133191 501(C)(6) 9530 GENERAL SUPPORT HILLSBOROUGH EDUCATION FOUNDATION 2306 N HOWARD AVE TAMPA FL 33607 592883361 501(C)(3) 7500 EVENT SPONSORSHIP 1 2 SCHOLARSHIPS & GRANTS 1529 19897143 CSSP & ART CENTER SCHOLARSHIPS 91 97308 STUDENT AWARDS 36 16775 PART I, LINE 2: DISBURSEMENTS TO STUDENTS RECEIVING FINANCIAL AID ARE MADE IN ACCORDANCE WITH INSTITUTIONAL PROCEDURES TO ENSURE THAT THOSE RECEIVING AID ARE QUALIFYING RECIPIENTS. FEDERAL FINANCIAL AID AND/OR ASSISTANCE FROM GOVERNMENTAL AGENCIES IS DISTRIBUTED AND MONITORED IN ACCORDANCE WITH FEDERALLY APPROVED NEED ANALYSIS CRITERIA OR OTHER AGENCY PROVIDED CRITERIA. IN ADDITION TO STUDENT FINANCIAL AID, THE COLLEGE ALSO PROVIDES ASSISTANCE TO ORGANIZATIONS IN SUPPORT OF COMMUNITY GOALS THAT ALIGN WITH THE MISSION OF THE COLLEGE. AS THE COLLEGE IS SELECTIVE IN WHICH ORGANIZATIONS IT SUPPORTS, MONITORING OF THE FUNDS IS NOT A PART OF THE AWARD PROCESS AFTER FUNDING HAS TAKEN PLACE. X X X X X X 0 1 X X X X 0 1 0 0 0 0 0 1 0 DR LARRY R THOMPSON PRESIDENT 369026 0 100000 0 141606 0 14000 0 36374 0 661006 0 0 0 DR TRACY A WAGNER VP FOR FINANCE & ADMINISTRATION 192158 0 0 0 52578 0 11936 0 18951 0 275623 0 0 0 CHRISTINE C DEGEORGE VP FOR HUMAN & ORGANIZATIONAL DEV. 196492 0 0 0 20956 0 10579 0 19415 0 247442 0 0 0 DR PETER A MCALLISTER VP FOR ACADEMIC AFFAIRS 188208 0 0 0 12367 0 10087 0 13442 0 224104 0 0 0 DAVID H JACKSON ASSOCIATE VP FOR ACADEMIC AFFAIRS 157576 0 0 0 10066 0 8294 0 9002 0 184938 0 0 0 DR MAHMOUD PEGAH DIRECTOR OF INSTITUTIONAL TECHNOLOGY 194270 0 0 0 22746 0 10845 0 11345 0 239206 0 0 0 STACEY CORLEY VP FOR ADVANCEMENT 197629 0 0 0 32048 0 10569 0 19411 0 259657 0 0 0 DR TAMMY WALSH VP FOR STUDENT LIFE/DEAN OF STUDENTS 171942 0 0 0 8077 0 1738 0 18395 0 200152 0 0 0 JAMES DEAN DEAN OF ADMISSIONS 149754 0 0 0 11234 0 7966 0 8987 0 177941 0 0 0 PART I, LINE 1A DR. LARRY R. THOMPSON, PRESIDENT, RECEIVES A TAXABLE HOUSING ALLOWANCE AND GROSS-UP PAYMENT WHICH IS REPORTED AS REPORTABLE COMPENSATION ON FORM 990, PAGE 7, PART VII, SECTION A, COLUMN D AND SCHEDULE J, PAGE 2, PART II, COLUMN B(III). THE ORGANIZATION PAYS COUNTRY CLUB AND SOCIAL CLUB DUES ON BEHALF OF DR. LARRY R. THOMPSON, PRESIDENT. PERSONAL USE IS NOT REIMBURSED, BUT THE PAYMENT FOR COUNTRY CLUB AND SOCIAL CLUB DUES IS TAXABLE TO THE EMPLOYEE AND IS REPORTED AS REPORTABLE COMPENSATION ON FORM 990, PAGE 7, PART VII, SECTION A, COLUMN D AND SCHEDULE J, PAGE 2, PART II, COLUMN B(III). THE ORGANIZATION PROVIDED A GROSS-UP PAYMENT TO LARRY R. THOMPSON, PRESIDENT, FOR THE TAXES ON THE PORTION OF COUNTRY CLUB AND SOCIAL CLUB DUES ATTRIBUTABLE TO BUSINESS USE. THE ORGANIZATION PAID FOR TAXABLE PHYSICIAN SERVICES ON BEHALF OF DR. LARRY R. THOMPSON, PRESIDENT, WHICH IS REPORTED AS REPORTABLE COMPENSATION ON FORM 990, PAGE 7, PART VII, SECTION A, COLUMN D AND SCHEDULE J, PAGE 2, PART II, COLUMN B(III). THE ORGANIZATION PAYS YACHT CLUB DUES ON BEHALF OF STACEY CORLEY, VICE PRESIDENT FOR ADVANCEMENT. PERSONAL USE IS NOT REIMBURSED, BUT THE PAYMENT FOR YACHT CLUB DUES IS TAXABLE TO THE EMPLOYEE AND IS REPORTED AS REPORTABLE COMPENSATION ON FORM 990, PAGE 7, PART VII, SECTION A, COLUMN D AND SCHEDULE J, PAGE 2, PART II, COLUMN B(III). THE ORGANIZATION PROVIDED A GROSS-UP PAYMENT TO STACEY CORLEY, VICE PRESIDENT FOR ADVANCEMENT FOR THE TAXES ON THE PORTION OF YACHT CLUB DUES ATTRIBUTABLE TO BUSINESS USE. THE ORGANIZATION ALSO PAYS FOR CERTAIN TRAVEL EXPENSES FOR DR. THOMPSON'S SPOUSE WHEN IT SERVES THE NEEDS OF THE COLLEGE TO HAVE HIS SPOUSE PRESENT FOR VARIOUS COLLEGE FUNCTIONS. THIS IS TREATED AS NONTAXABLE SINCE HER ATTENDANCE IS REQUIRED FOR CERTAIN DONOR EVENTS. THE ORGANIZATION ALSO PAYS FOR FIRST-CLASS OR PREMIER CLASS TRAVEL FOR THE PRESIDENT, HIS SPOUSE, AND THE VICE PRESIDENT OF ADVANCEMENT ON AN INFREQUENT BASIS, MOST NOTABLY FOR LONG-DISTANCE INTERNATIONAL TRAVEL. PART I, LINE 1B THE BOARD OF TRUSTEES EXECUTIVE COMMITTEE DETERMINED THAT THE COLLEGE WOULD PROVIDE THE HOUSING ALLOWANCE, GROSS-UP PAYMENTS, SOCIAL CLUB DUES, AND PHYSICIAN SERVICES FOR THE PRESIDENT (DESCRIBED ABOVE) AND THOSE BENEFITS ARE INCLUDED IN THE PRESIDENT'S APPOINTMENT LETTER FROM THE BOARD OF TRUSTEES. THE BOARD OF TRUSTEES EXECUTIVE COMMITTEE DETERMINED THAT THE PRESIDENT COULD AUTHORIZE THE COLLEGE TO PROVIDE THE YACHT CLUB DUES FOR STACEY CORLEY, VICE PRESIDENT FOR ADVANCEMENT, AND THOSE BENEFITS ARE INCLUDED IN HER LETTER OF APPOINTMENT. THE BOARD OF TRUSTEES EXECUTIVE COMMITTEE DETERMINED THAT PRESIDENT, DR. LARRY R. THOMPSON COULD AUTHORIZE THE COLLEGE TO PROVIDE A GROSS-UP PAYMENT TO STACEY CORLEY, VICE PRESIDENT FOR ADVANCEMENT FOR THE TAXES ON THE PORTION OF YACHT CLUB DUES ATTRIBUTABLE TO BUSINESS USE. PART I, LINE 4B THE COLLEGE MAINTAINS A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN FOR DR. LARRY R. THOMPSON, PRESIDENT. ALL CONTRIBUTIONS TO THAT PLAN WERE FROZEN FOR PERIODS AFTER MAY 31, 2012. PLAN RULES REQUIRE THAT FUNDS BE DISTRIBUTED ONLY UPON SEPARATION FROM EMPLOYMENT. SINCE THE PLAN IS FROZEN, NO CONTRIBUTIONS WERE MADE TO THE PLAN DURING THE FISCAL YEAR. PART I, LINE 7 BASED ON THE PERFORMANCE OF THE INSTITUTION, THE BOARD OF TRUSTEES DETERMINED THAT DR. LARRY R. THOMPSON, PRESIDENT WOULD RECEIVE A BONUS OF $100,000. THE BOARD OF TRUSTEES DETERMINES ANNUALLY WHETHER A BONUS IS TO BE PAID AND THE AMOUNT. A HIGHER EDUCATION FACILITIES FINANCING AUTHORITY 900058227 34073TKB2 2017-11-01 99656259 REFUND SERIES 2010; FUND 2017 PROJECT (LIBRARY, ETC.) 0 0 0 B HIGHER EDUCATION FACILITIES FINANCING AUTHORITY 900058227 000000000 2019-05-31 13370000 CURRENTLY REFUND SERIES 2009 ISSUE 0 0 0 C HIGHER EDUCATION FACILITIES FINANCING AUTHORITY 900058227 000000000 2019-05-31 12045000 CURRENTLY REFUND SERIES 2014 ISSUE 0 0 0 D HIGHER EDUCATION FACILITIES FINANCING AUTHORITY 900058227 34073TMJ3 2019-07-25 47997378 FUND 2019 PROJECT (HOUSING, DINING, ETC.) 0 0 0 A 395000 100612162 1446748 886215 49843328 43500000 4935871 1 0 0 1 B 715000 13370000 13370000 2006 1 0 1 1 C 1330000 12045000 12045000 2009 1 0 1 1 D 48378437 1224030 487562 18869153 27797692 0 0 0 1 A 0 0 1 1 0 0.01300 0.00000 0.01300 0 0 1 B 0 0 1 1 0 0.01900 0.00000 0.01900 0 0 1 C 0 0 1 1 0 0.04200 0.00000 0.04200 0 0 1 D 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 0 0 0 1 B 0 0 1 0 1 0 0 0 1 C 0 0 1 0 1 0 0 0 1 D 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 D 1 PART I, LINE B, (D) DATE ISSUED ORIGINALLY ISSUED ON 12/01/09, REISSUED FOR FEDERAL TAX PURPOSES ON 5/31/19 PART I, LINE C, (D) DATE ISSUED ORIGINALLY ISSUED ON 6/04/14, REISSUED FOR FEDERAL TAX PURPOSES ON 5/31/19 PART II, LINE 3, COLUMN A AND COLUMN D TOTAL PROCEEDS DIFFER FROM PART I DUE TO INVESTMENT EARNINGS 10000 SCHOLARSHIP MERIT X 1 15000 FMV/APPRAISAL X 26 241747 FMV X 1 135 FMV X WINE 1 5500 FMV/APPRAISAL X MATERIALS 1 1450 FMV X GOLF BALLS 1 180 FMV 1 0 0 1 PART I, LINE 32B: THIRD PARTY AUCTION COMPANIES ARE HIRED TO LIQUIDATE ARTWORK DONATIONS. FORM 990, PART III, LINE 1 RINGLING COLLEGE OF ART AND DESIGN, INC'S PRIMARY MISSION IS TO PROVIDE PROGRAMS LEADING TO DEGREES THAT PREPARE STUDENTS TO BE DISCERNING VISUAL THINKERS AND ETHICAL PRACTITIONERS IN THEIR CHOSEN AREA OF ART AND DESIGN. RINGLING COLLEGE OF ART AND DESIGN STRIVES TO ENROLL BOTH FULL- AND PART-TIME STUDENTS FROM DIVERSE BACKGROUNDS WHO INTEND TO BECOME PROFESSIONALS IN THE VISUAL ARTS. THROUGH ITS POLICIES AND PRACTICES, THE COLLEGE SUPPORTS EXCELLENCE IN TEACHING AND FOSTERS THE AESTHETIC, INTELLECTUAL, PROFESSIONAL, PERSONAL, AND SOCIAL DEVELOPMENT OF ITS STUDENTS. ACADEMIC PROGRAMS AND ADVISING, CAREER SERVICES, AND AN EXTENSIVE CO-CURRICULAR STUDENT LIFE PROGRAM PREPARE STUDENTS FOR AN ART OR DESIGN PROFESSION, OR WHEN APPROPRIATE, FOR CONTINUED STUDIES ON THE GRADUATE LEVEL. IN ADDITION TO ITS DEGREE PROGRAM, RINGLING COLLEGE OFFERS COURSES, LECTURES, EXHIBITIONS AND OTHER ART-RELATED SERVICES TO THE LOCAL AND REGIONAL COMMUNITY THROUGH ITS GALLERY, LIBRARY, CONTINUING EDUCATION, AND COMMUNITY SERVICE PROGRAMS. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE REVIEWS THE DRAFT REPORT WITH THE INDEPENDENT AUDIT FIRM AND COLLEGE STAFF PRIOR TO THE PUBLIC DISCLOSURE COPY BEING PROVIDED TO THE BOARD OF TRUSTEES. THIS MAINTAINS THE DONORS' REQUESTS TO REMAIN ANONYMOUS. FORM 990, PART VI, SECTION B, LINE 12C IN THE EVENT OF A POTENTIAL CONFLICT, THE TRUSTEE IN QUESTION WILL RECUSE THEMSELVES FROM ANY DISCUSSION OR VOTE. THE COLLEGE ANNUALLY PROVIDES A CONFLICT OF INTEREST POLICY AND FORM TO ALL TRUSTEES AND KEY EMPLOYEES TO DISCLOSE ALL CONFLICTS OF INTEREST. THESE RESPONSES ARE REVIEWED TO DETERMINE IF THERE ARE ANY POTENTIAL ISSUES OR ITEMS FOR DISCLOSURE. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT IS EVALUATED ANNUALLY BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THE COMPENSATION COMMITTEE, A SUB-COMMITTEE OF THE EXECUTIVE COMMITTEE, IS RESPONSIBLE FOR THE ANNUAL EVALUATION AND FOR RECOMMENDATIONS CONCERNING COMPENSATION, PERSONNEL ACTIONS AND OTHER EMPLOYMENT ISSUES RELATED TO THE APPOINTMENT OF THE PRESIDENT. THE COMMITTEE CONDUCTS AN ANNUAL PERFORMANCE APPRAISAL, COLLECTS AND EVALUATES COMPARATIVE SALARY DATA FROM ASSOCIATION OF INDEPENDENT COLLEGES OF ART AND DESIGN (AICAD), 990 DATA, AND PROVIDES A RECOMMENDATION FOR THE PRESIDENT'S ANNUAL COMPENSATION TO THE EXECUTIVE COMMITTEE. THE MEMBERS OF THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES AND/OR THE FULL BOARD OF TRUSTEES CONDUCT A PERFORMANCE ASSESSMENT. THE EXECUTIVE COMMITTEE REPORTS THE DELIBERATIONS AND RECOMMENDATION TO THE BOARD OF TRUSTEES. THE PRESIDENT EVALUATES AND DETERMINES THE COMPENSATION OF EACH SENIOR OFFICER. THE PRESIDENT REVIEWS THE COMPARATIVE DATA FROM THE ASSOCIATION OF INDEPENDENT COLLEGES OF ART AND DESIGN (AICAD) FOR EACH OF THE SENIOR OFFICERS WITH THE COMPENSATION COMMITTEE. THE VICE PRESIDENT FOR FINANCE AND ADMINISTRATION, THE VICE PRESIDENT FOR ACADEMIC AFFAIRS, THE VICE PRESIDENT FOR HUMAN AND ORGANIZATIONAL DEVELOPMENT, THE VICE PRESIDENT FOR ADVANCEMENT, AND THE VICE PRESIDENT FOR STUDENT LIFE ARE SENIOR OFFICERS. DOCUMENTATION INCLUDES THE DATA USED IN REVIEW AND NOTES TAKEN AT THE COMPENSATION COMMITTEE AND EXECUTIVE COMMITTEE MEETINGS OF PERFORMANCE REVIEW, DATA REVIEW AND DELIBERATIONS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -41,863. CHANGE IN VALUE OF GIFTED ARTWORK -350,000.