2021-01-19T12:41:21-06:00 2020-05-31 390859910 BAKER TILLY US LLP 777 E WISCONSIN AVENUE 32ND FLOOR MILWAUKEE WI 53202 990 2019-06-01 391201561 MILWAUKEE INSTITUTE OF ART & DESIGN INC MILW 4148473231 273 EAST ERIE STREET MILWAUKEE WI 53202 BRENDA L JONES VP FOR FINANCIAL AFFAIRS 4148473231 2021-01-13 1 TROY MARINE CPA P00187863 4147775500 2021-01-12 2019 2022-09-23 18:48:47Z JEFFREY MORIN 273 EAST ERIE STREET MILWAUKEE WI 53202 37873010 0 X WWW.MIAD.EDU X 1974 WI THE MILWAUKEE INSTITUTE OF ART AND DESIGN'S MISSION IS TO IGNITE CURIOUS MINDS THROUGH ART, DESIGN AND SERVICE. WE VALUE COURAGE TO SEEK OUR OWN PATH, INTEGRITY TO PURSUE OUR LIVES AND WORK WITH MEANING, KINDNESS TO THOUGHTFULLY ENGAGE WITH OTHERS, COMMUNITY TO POSITIVELY CONTRIBUTE TO THE WORLS AROUND US, INNOVATION TO MEET UNIVERSAL CHALLENGES IN NEW WAYS, AND INCLUSION TO FIND STRENGTH IN DIVERSITY. OUR VISION IS TO BE A GALVANIZED EDUCATIONAL AND CREATIVE COMMUNITY, ADDRESSING UNIVERAL NEEDS THROUGH OUR THOUGHT, DESIGN AND EXPRESSION. 26 26 516 26 0 0 1095126 2099695 28386091 33311437 170033 365361 211218 248272 29862468 36024765 13557288 16795920 0 0 10023610 11172326 0 329868 801381 5403439 5446879 28984337 33744993 878131 2279772 14511833 19436412 4927840 7765325 9583993 11671087 X THE MILWAUKEE INSTITUTE OF ART AND DESIGN'S MISSION IS TO IGNITE CURIOUS MINDS THROUGH ART, DESIGN AND SERVICE. WE VALUE COURAGE TO SEEK OUR OWN PATH, INTEGRITY TO PURSUE OUR LIVES AND WORK WITH MEANING, KINDNESS TO THOUGHTFULLY ENGAGE WITH OTHERS, COMMUNITY TO POSITIVELY CONTRIBUTE TO THE WORLD AROUND US, INNOVATION TO MEET UNIVERSAL CHALLENGES IN NEW WAYS, AND INCLUSION TO FIND STRENGTH IN DIVERSITY. OUR VISION IS TO BE A GALVANIZED EDUCATIONAL AND CREATIVE COMMUNITY, ADDRESSING UNIVERAL NEEDS THROUGH OUR THOUGHT, DESIGN AND EXPRESSION. 0 0 29514816 16795920 33239137 THE MILWAUKEE INSTITUTE OF ART AND DESIGN (MIAD) WAS FOUNDED IN 1974 AND IS ACCREDITED TO OFFER THE BACHELOR OF FINE ARTS DEGREE BY THE HIGHER LEARNING COMMISSION AND THE NATIONAL ASSOCIATION OF SCHOOLS OF ART AND DESIGN. THE COLLEGE OFFERS FIVE MAJORS TO 860 FULL AND PART TIME STUDENTS: INDUSTRIAL/PRODUCT DESIGN, COMMUNICATION DESIGN, ILLUSTRATION, INTERIOR ARCHITECTURE AND DESIGN, AND NEW STUDIO PRACTICE - FINE ARTS. LIBERAL STUDIES ARE REQUIRED, AND THE COLLEGE OFFERS NUMEROUS MINORS INCLUDING FURNITURE DESIGN, ARTS MANAGEMENT AND DIGITAL MEDIA. MIAD HAS BEEN NAMED A TOP DESIGN COLLEGE BY GRAPHIC DESIGN USA FOR THE LAST FIVE YEARS. IN 2019 MONEY MAGAZINE SHOWED MIAD TO BE THE TOP ART AND DESIGN COLLEGE IN THE NATION FOR HELPING LOWER-INCOME STUDENTS ATTAIN UPPER-MIDDLE-CLASS JOBS. MIAD ALSO BRINGS ROBUST CAREER PATHWAYS AND COLLEGE-READINESS EXPERIENCES TO HIGH SCHOOL YOUTH AND PROVIDES CULTURAL EXPERIENCES AND PROGRAMMING TO THE GREATER MILWAUKEE COMMUNITY. 29514816 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 60 0 1 516 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 X 26 26 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 WI X X BRENDA JONES VP FOR FINANCIAL AFFAIRS 4148473231 273 EAST ERIE STREET MILWAUKEE WI 53202 JEFFREY MORIN PRESIDENT 40.00 X 233337 0 31045 BRENDA JONES VP FINANCE 40.00 X 145225 0 24968 MARY SCHOPP VP ENROLLMENT MANAGEMENT 40.00 X 144199 0 28725 DAVID MARTIN VP ACADEMIC AFFAIRS 40.00 X 143375 0 29628 VIVIAN ROTHSCHILD VP DEVELOPMENT AND COMMUNI 40.00 X 147751 0 18671 ROBERT SCHWARTZ CHAIR 1.00 X X 0 0 0 JASON ALLEN TREASURER 1.00 X X 0 0 0 SARAH ZIMMERMAN SECRETARY 1.00 X X 0 0 0 REBECCA BALISTRERI TRUSTEE 1.00 X 0 0 0 YVONNE BRODSKY TRUSTEE 1.00 X 0 0 0 DAVID COBB TRUSTEE 1.00 X 0 0 0 JENNIFER FLORSHEIM TRUSTEE 1.00 X 0 0 0 LEESA GILLIAM TRUSTEE 1.00 X 0 0 0 JESSICA JUBELIRER TRUSTEE 1.00 X 0 0 0 JATIN KHANPARA TRUSTEE 1.00 X 0 0 0 SANG KIM TRUSTEE 1.00 X 0 0 0 CRAIG KOPROWSKI TRUSTEE 1.00 X 0 0 0 MADELEINE KELLY LUBAR TRUSTEE 1.00 X 0 0 0 GEOFFREY MACKEY TRUSTEE 1.00 X 0 0 0 LINDA MARCUS TRUSTEE 1.00 X 0 0 0 ROBERT MIKULAY TRUSTEE 1.00 X 0 0 0 RYAN RAMOS TRUSTEE 1.00 X 0 0 0 BRAD RICHARDS TRUSTEE 1.00 X 0 0 0 MATTHEW D RINKA TRUSTEE 1.00 X 0 0 0 NATHANIEL SATTLER TRUSTEE 1.00 X 0 0 0 LINDA PECK TRUSTEE 1.00 X 0 0 0 AMANDA SINGH TRUSTEE 1.00 X 0 0 0 DENISHA TATE TRUSTEE 1.00 X 0 0 0 DEANNA TILLISCH TRUSTEE 1.00 X 0 0 0 KIMBERLIE WEEKLY TRUSTEE 1.00 X 0 0 0 ANDREW WILLIAMS TRUSTEE 1.00 X 0 0 0 813887 0 133037 5 0 1 0 HM GRAPHICS PO BOX 88755 MILWAUKEE WI 53288 PRINTING AND MAIL HOUSE 253140 COMMUNITY COUNSELING SERVICE CO LLC PO BOX 824885 PHILADELPHIA PA 19182 FUNDRAISING CONSULTANT 177457 PER MAR SECURITY AND RESEARCH CORP 1910 EAST KIMBERLY RD DAVENPORT IA 52807 SECURITY PERSONNEL 149328 HOLTON BROTHERS INC 1257 TERMINAL ROAD GRAFTON WI 53024 MASONRY RESTORATION SERVICES 132943 4 29805 618989 1450901 8520 2099695 TUITION AND FEES 611600 33311437 33311437 33311437 155722 155722 1820614 1593202 17773 227412 -17773 209639 209639 0 29805 21670 -21670 -21670 289739 215600 74139 74139 MISCELLANEOUS REVENUE 611710 195803 195803 195803 36024765 33311437 0 613633 16795920 16795920 946922 345926 434575 166421 8201837 6832891 1251535 117411 249883 209157 38517 2209 1147136 778381 358101 10654 626548 504198 103846 18504 8319 5355 2964 38680 38680 329868 329868 1598 1598 496976 180968 316008 358401 266252 12877 79272 419881 387359 32372 150 636790 498574 138216 289942 271378 17278 1286 193152 190980 2172 555960 555960 SUPPLIES 661730 569536 91758 436 MISCELLANEOUS 550797 365411 150167 35219 STUDENT SERVICES 374362 372804 1558 EQUIPMENT REPAIR AND MT 312687 142019 170550 118 547604 241747 266024 39833 33744993 29514816 3428796 801381 163429 120946 2255884 4785113 190905 656943 516558 763520 7239 12646 286807 493105 22318953 11522789 9406705 10796164 1684306 1807975 14511833 19436412 740063 1273136 803160 629384 3384617 3822945 0 2039860 4927840 7765325 X 5308573 6735821 4275420 4935266 9583993 11671087 14511833 19436412 2279772 -192679 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 326990 235508 X X 1 2998560 182440 206370 2974630 3170700 35660 207800 2998560 3152534 222344 204178 3170700 2965837 25932 240765 80000 3152534 3009769 475 35593 80000 2965837 0.07000 0.93000 0 0 725000 725000 15421099 7121536 8299563 4932713 3820359 1112354 1240141 580894 659247 10796164 SBA LOAN 2039860 2039860 X 19757329 -192679 237270 44591 19712738 1598 16310430 16312028 36024766 17670235 237270 237270 17432965 1598 16310430 16312028 33744993 PART III, LINE 4: THE COLLECTION IS USED TO FURTHER THE EDUCATIONAL PURPOSE OF THE INSTITUTION IN ADVANCING THE STUDENT AND PUBLIC APPRECIATION OF CONTEMPORARY ART. PART V, LINE 4: ENDOWMENT FUNDS ARE RESTRICTED FOR STUDENT SCHOLARSHIP AND ACADEMIC PROGRAM SUPPORT. PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE INSTITUTE IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. HOWEVER, ANY UNRELATED BUSINESS INCOME MAY BE SUBJECT TO TAXATION. THE INSTITUTE IS ALSO EXEMPT FROM STATE INCOME TAXES. THE INSTITUTE FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE INSTITUTE FOR UNCERTAIN TAX POSITIONS AS OF MAY 31, 2020 AND 2019. THE INSTITUTE'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 215,600. SPECIAL EVENTS EXPENSE 21,670. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND TUITION DISCOUNTS 16,310,430. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 215,600. SPECIAL EVENTS EXPENSE 21,670. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND TUITION DISCOUNTS 16,310,430. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 REGISTRATION MATERIALS AND BROCHURES STATE POLICY SCHEDULE E, PART I, LINE 6 THE ORGANIZATION RECEIVES STUDENT FINANCIAL AID. X X X X X X X 1 FUND DEVELOPMENT CORP 8112 W BLUEMOUND RD STE 201 MILWAUKEE WI 53213 GRANT WRITING SERVICES 0 0 72000 -72000 COMMUNITY COUNSELING SERVICES PO BOX 82445 PHILADELPHIA PA 19182 CAMPAIGN CONSULTANT 0 0 257868 -257868 329868 -329868 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 CREATIVE FUSION 11513 11513 9609 STU/ALUM ART SALE 18292 18292 12061 29805 29805 21670 21670 -21670 1 SCHOLARSHIPS AND TUITION DISCOUNTS 884 16310430 STUDENT EMERGENCY GRANTS 724 485490 PART I, LINE 2: ALL FUNDS ARE AWARDED THROUGH THE COLLEGE'S FINANCIAL AID OFFICE AND POSTED DIRECTLY TO THE STUDENTS' ACCOUNTS BY THE STUDENT ACCOUNTS OFFICE. STUDENTS MAY BE AWARDED GRANT FUNDS ON THE BASIS OF ACADEMIC ACHIEVEMENT AND/OR FINANCIAL NEED. IN EACH CASE THE STUDENT CAN RETAIN ELIGIBILITY FOR FUNDING FOR AS MANY AS EIGHT SEMESTERS AS A FULL-TIME STUDENT, PROVIDED THE STUDENT MEETS THE RENEWAL CRITERIA SUCH AS GRADE POINT AVERAGE AND GRADE PROCESSION AS OUTLINED IN THE STUDENT HANDBOOK. AN INDIVIDUAL STUDENT MAY NOT RECEIVE MORE THAN THE COST OF TUITION FROM THE INSTITUTIONAL GRANT FUNDS. A RECONCILIATION IS DONE REGULARLY BETWEEN THE TWO DEPARTMENTS/SYSTEMS TO ENSURE ACCURACY AND PROPER USE OF THE FUNDS. IN ADDITION, AN ANNUAL AUDIT IS PERFORMED BY AN OUTSIDE ACCOUNTING FIRM TO REVIEW COMPLIANCE WITH ALL FEDERAL, STATE AND INSTITUTIONAL POLICIES AND PROCEDURES. X X X 0 0 0 0 0 0 0 0 0 JEFFREY MORIN PRESIDENT 222563 0 10000 0 774 0 11444 0 19601 0 264382 0 0 0 BRENDA JONES VP FINANCE 141185 0 3750 0 290 0 7387 0 17581 0 170193 0 0 0 MARY SCHOPP VP ENROLLMENT MANAGEMENT 139617 0 3750 0 832 0 7387 0 21338 0 172924 0 0 0 DAVID MARTIN VP ACADEMIC AFFAIRS 138793 0 3750 0 832 0 7387 0 22241 0 173003 0 0 0 VIVIAN ROTHSCHILD VP DEVELOPMENT AND COMMUNI 143264 0 3750 0 737 0 7387 0 11284 0 166422 0 0 0 PART I, LINE 3 THE BOARD OF TRUSTEES IS RESPONSIBLE FOR REVIEWING AND DETERMINING THE COMPENSATION OF THE PRESIDENT. COMPARISONS ARE MADE TO SIMILAR POSITIONS IN COMPARABLE ENTITIES THROUGH USE OF REGIONAL AND NATIONAL COMPENSTAION SURVEYS. X 1 2400 DONOR REPORTED X 320 DONOR REPORTED X PROGRAM EQUIPMENT AND SUPPLIES 3 5800 DONOR REPORTED 0 1 0 FORM 990, PART VI, SECTION A, LINE 1 COMPOSITION, PURPOSE AND RESPONSIBILITIES OF THE EXECUTIVE COMMITTEE. SECTION 1: ALL MEMBERS OF THE EXECUTIVE COMMITTEE SHALL BE VOTING TRUSTEES. THE CHAIR, VICE CHAIR, SECRETARY, ASSISTANT SECRETARY, TREASURER AND ASSISTANT TREASURER OF THE BOARD OF TRUSTEES SHALL BE MEMBERS ALONG WITH THE STANDING COMMITTEE CHAIRS OF THE FINANCE, ACADEMIC AFFAIRS, THE COMMITTEE ON TRUSTEES, FACILITIES COMMITTEE, DEVELOPMENT, AND MARKETING COMMITTEES. ELIGIBLE PAST CHAIRS OF THE BOARD OF TRUSTEES SERVE ON THE EXECUTIVE COMMITTEE FOR A PERIOD OF ONE YEAR FOLLOWING THE END OF HIS OR HER TERM AS CHAIR. IN THE EVENT A TRUSTEE IS ELECTED TO THE POSITION OF CHAIR IN THE FINAL YEAR OF HIS OR HER THIRD, THREE-YEAR TERM, SUCH ELECTION WILL SUPERCEDE THE LIMITATION ON SERVICE AND SUBSTITUTE FOR THE ONE-YEAR'S ABSENCE OF MEMBERSHIP. SECTION 2: THE EXECUTIVE COMMITTEE SHALL HAVE THE AUTHORITY TO ACT FOR THE BOARD OF TRUSTEES ON ALL MATTERS EXCEPT PRESIDENTIAL SELECTION AND TERMINATION AND TRUSTEE AND BOARD OFFICER SELECTION, WHICH SHALL BE PRESERVED FOR THE BOARD, CHANGES IN INSTITUTIONAL MISSION AND PURPOSE; CHANGES TO THE CHARTER OR ARTICLE OF INCORPORATION; INCURRING OF CORPORATE INDEBTEDNESS; SALE OF COLLEGE MATERIAL ASSETS OR TANGIBLE PROPERTY; ADOPTION OF THE ANNUAL BUDGET, CONFERRING DEGREES AND AMENDMENT OR CHANGE TO THESE BY-LAWS. THESE BY-LAWS OR OTHER BOARD POLICY MAY RESERVE OTHER POWERS FOR THE BOARD OF TRUSTEES. IN ADDITIONAL TO ITS AUTHORITY TO TAKE ACTION ON EMERGENCY MATTERS THAT CANNOT OR SHOULD NOT BE DEFERRED TO THE NEXT SCHEDULED MEETING OF THE BOARD, THE EXECUTIVE COMMITTEE SHALL OVERSEE THE WORK OF BOARD COMMITTEES, THE COLLEGE'S PLANNING PROCESS ON PLANNING GOALS, AND THE BOARD'S RESPONSIBILITY TO SUPPORT THE PRESIDENT AND EVALUATE HIS OR HER PERFORMANCE, AND IT SHALL REVIEW ANNUALLY THE PRESIDENT'S COMPENSATION AND CONDITIONS OF EMPLOYMENT. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE VICE PRESIDENT FOR FINANCIAL AFFAIRS AND APPROVED BY THE PRESIDENT. A COPY OF THE 990 IN ITS ENTIRETY IS PROVIDED TO THE FINANCE COMMITTEE (SUBSET OF THE BOARD OF TRUSTEES) FOR REVIEW PRIOR TO FILING. THE FORM IS PROVIDED TO THE ENTIRE GOVERNING BODY AFTER FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD BYLAWS INCORPORATE A CONFLICT OF INTEREST POLICY. BOARD MINUTES REFLECT TRUSTEES ACTING TO RECUSE THEMSELVES WHEN A CONFLICT ARISES. CONFLICT OF INTEREST DISCLOSURE FORMS ARE COMPLETED ANNUALLY BY ALL TRUSTEES. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT IS EVALUATED BY THE EXECUTIVE COMMITTEE AND THE COMPENSATION COMMITTEE WHICH THEN RECOMMENDS A SALARY BASED ON COMPARABLE DATA. THE PRESIDENT EVALUATES ALL SENIOR STAFF AND REVIEWS THEIR COMPENSATION WITH THE BOARD AND THE COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST PART XIII NO CHANGE FROM PRIOR YEAR.