2021-05-12T15:11:47-05:00 2020-06-30 340677006 MALONEY NOVOTNY LLC 1111 SUPERIOR AVE SUITE 700 CLEVELAND OH 441142540 990 2019-07-01 340714334 THE CLEVELAND INSTITUTE OF ART CLEV 2164217000 11610 EUCLID AVENUE CLEVELAND OH 44106 JULIENNE R MELVIN CFO/TREASURER 2164217000 2021-05-11 1 CHRISTOPHER B ANDERSON P00226559 2163630100 2019 2022-09-23 18:48:47Z GRAFTON NUNES 11610 EUCLID AVENUE CLEVELAND OH 44106 37918262 0 X WWW.CIA.EDU X 1882 OH TO CULTIVATE CREATIVE LEADERS WHO INSPIRE PEOPLE, STRENGTHEN COMMUNITIES, AND CONTRIBUTE TO A THRIVING AND SUSTAINABLE ECONOMY THROUGH AN INNOVATIVE EDUCATION IN ART AND DESIGN. 40 38 567 50 136982 -99229 3989899 4016627 29572497 29035407 831675 927463 462383 412088 34856454 34391585 12120330 12341458 0 0 12563729 12677337 0 0 1460126 12288448 11342645 36972507 36361440 -2116053 -1969855 99524911 99797799 25172741 27538898 74352170 72258901 THE MISSION STATEMENT OF THE CLEVELAND INSTITUTE OF ART IS AS FOLLOWS: TO CULTIVATE CREATIVE LEADERS WHO INSPIRE PEOPLE, STRENGTHEN COMMUNITIES, AND CONTRIBUTE TO A THRIVING AND SUSTAINABLE ECONOMY THROUGH AN INNOVATIVE EDUCATION IN ART AND DESIGN. 0 0 30992765 12341458 29289136 THE CLEVELAND INSTITUTE OF ART IS AN INDEPENDENT COLLEGE OF ART AND DESIGN COMMITTED TO LEADERSHIP AND VISION IN ALL FORMS OF VISUAL ARTS EDUCATION. THE INSTITUTE'S MISSION IS TO MAKE AN ENDURING CONTRIBUTION THROUGH EDUCATION, RESEARCH AND SERVICE TO DIVERSE COMMUNITIES, BOTH IMMEDIATE AND GLOBAL. THE INSTITUTE RECOGNIZES THE IMPORTANCE OF THE VISUAL ARTS IN CULTURE AND THE POTENTIAL FOR ARTISTS TO CONTRIBUTE TO THE NEEDS OF SOCIETY. STUDENTS EARN A BACHELOR OF FINE ARTS DEGREE UPON SUCCESSFUL COMPLETION OF THE PROGRAM. THE UNDERGRADUATE PROGRAM HAD 645 STUDENTS ENROLLED IN THE FALL OF 2019. 30992765 1 1 0 1 0 0 0 1 0 1 1 0 0 0 1 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 1 X 119 0 1 567 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 40 38 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 0 1 1 0 OH X JULIENNE R MELVIN 2164217000 11610 EUCLID AVENUE CLEVELAND OH 44106 JOSIE ANDERSON DIRECTOR 1.00 X 0 0 0 FRAN BELKIN DIRECTOR & OFFICER 5.00 X X 0 0 0 MARIANNE BERNADOTTE DIRECTOR 1.00 X 0 0 0 WILLIAM BUSTA DIRECTOR 1.00 X 0 0 0 STEVEN M CENCULA DIRECTOR 1.00 X 0 0 0 FREDERICK W CLARKE DIRECTOR & OFFICER 5.00 X X 0 0 0 ROBIN J DAVENPORT DIRECTOR 1.00 X 0 0 0 RUTH SWETLAND EPPIG DIRECTOR 1.00 X 0 0 0 MARSHA B EVERETT DIRECTOR 1.00 X 0 0 0 MEG FULTON-MUELLER DIRECTOR 1.00 X 0 0 0 HUGH J GARVEY III DIRECTOR 1.00 X 0 0 0 CYNTHIA PRIOR GASCOIGNE DIRECTOR & OFFICER 8.00 X X 0 0 0 MATTHEW L GREENE DIRECTOR 1.00 X 0 0 0 HOWARD M GROEDEL DIRECTOR 1.00 X 0 0 0 JOSEPH F HAHN MD DIRECTOR 1.00 X 0 0 0 BARBARA HAWLEY DIRECTOR & OFFICER 5.00 X X 0 0 0 DON INSUL DIRECTOR & OFFICER 5.00 X X 0 0 0 JENNIFER M LANGER DIRECTOR 1.00 X 0 0 0 TOBY DEVAN LEWIS DIRECTOR 1.00 X 0 0 0 JAMES D LINCOLN DIRECTOR 1.00 X 0 0 0 SUZANNE MARS DIRECTOR 1.00 X 0 0 0 YAN MASCHKE DIRECTOR 1.00 X 0 0 0 WARREN L MORRIS II DIRECTOR 1.00 X 0 0 0 JOHN W NOTTINGHAM DIRECTOR 1.00 X 0 0 0 LAUARA OSPANIK DIRECTOR 1.00 X 0 0 0 CONNIE OZAN DIRECTOR 1.00 X 0 0 0 PAUL PESSES DIRECTOR 1.00 X 0 0 0 RENE' POLIN JR DIRECTOR 1.00 X 0 0 0 MICHAEL PORT DIRECTOR 1.00 X 0 0 0 PETER J PRONOVOST MD PHD DIRECTOR 1.00 X 0 0 0 SCOTT RICHARDSON DIRECTOR 1.00 X 0 0 0 JOHN B SCHULZE DIRECTOR & OFFICER 5.00 X X 0 0 0 MICHAEL SCHWARTZ PHD DIRECTOR & OFFICER 5.00 X X 0 0 0 GREG S SHAW PHD DIRECTOR 1.00 X 0 0 0 ROBERT M SIEWERT CFA DIRECTOR 1.00 X 0 0 0 DANIEL I SIMON MD DIRECTOR 1.00 X 0 0 0 JUDSON E SMITH DIRECTOR 1.00 X 0 0 0 MARK SMITH DIRECTOR & OFFICER 5.00 X X 0 0 0 CAREY L SPENCER DIRECTOR 1.00 X 0 0 0 JANET A SPREEN DIRECTOR & OFFICER 5.00 X X 0 0 0 CATHY STAMLER DIRECTOR 1.00 X 0 0 0 ELIZABETH F STUEBER DIRECTOR 1.00 X 0 0 0 MARTIN TARR DIRECTOR 1.00 X 0 0 0 TRACEY FORDE WEAVER DIRECTOR 1.00 X 0 0 0 JEFFREY M WEISS DIRECTOR 1.00 X 0 0 0 KEVIN KAUTENBURGER DIRECTOR 1.00 X 0 0 0 GRAFTON J NUNES PRESIDENT & CEO 40.00 X X 293457 0 124533 LANE COOPER DIRECTOR & PROFESSOR 40.00 X 66391 0 12480 ALMUT ZVOSEC CFO & SVP BUSINESS 40.00 X 156180 0 16228 MATHEW W FELTHOUSEN VP SUPPORT SERVICES 40.00 X 126096 0 15835 JOSEPH B FERRITTO DIRECTOR OF FACILITIES 40.00 X 114955 0 15628 MARIE-LOUISE GUSTASSON-MONAGO VP INSTITUTIONAL ADVANCEMENT 40.00 X 141193 0 22413 MARK A INGLIS VP MARKETING 40.00 X 138819 0 21609 JONATHAN D WEHNER VP ENROLLMENT MGMT 40.00 X 125555 0 17497 1162646 0 246223 9 0 1 0 DONLEY'S INC 5430 WARNER ROAD CLEVELAND OH 44125 CONSTRUCTION 1385098 CASE WESTERN RESERVE UNIVERSITY 10900 EUCLID AVE CLEVELAND OH 44106 STUDENT SUPPORT SVCS. 1364229 AJAPPJR UPTOWN II LLC PO BOX 14100 CLEVELAND OH 44114 RENTAL-STUDENT HOUSING 696669 ALLIED UNIVERSAL SECURITY SERVICES 1551 N TUSTIN AVE STE 650 SANTA ANA CA 92705 SECURITY 396238 EAB PO BOX 603519 CHARLOTTE NC 28260 MARKETING SERVICES 354664 8 2026914 1989713 39170 4016627 TUITION AND FEES 900099 26583524 26583524 AUXILIARY SERVICES 900099 2451883 2451883 29035407 957671 957671 21377 0 21377 21377 21377 3496469 3526677 -30208 -30208 -30208 CINEMATHEQUE FILM PROG. 713910 136982 136982 OUTPUT CTR.PRINTING 561499 119360 119360 INC.FROM SUBSIDIARIES 900099 4096 4096 130273 130273 390711 34391585 29289136 136982 948840 12341458 12341458 713874 237590 317284 159000 9328676 7583548 1287515 457613 408206 317911 65231 25064 1559110 1214235 249146 95729 667471 519826 106662 40983 24338 24338 74200 74200 30000 30000 110564 110564 606828 472598 96971 37259 671709 523127 107339 41243 233068 181514 37244 14310 417096 324834 66652 25610 4380487 3411523 700002 268962 11339 8831 1812 696 51147 39834 8173 3140 894532 696662 142946 54924 2201339 1714403 351774 135162 97421 75871 15568 5982 EQUIP.LEASE/MAINT.CONTR 425565 331430 68005 26130 STUDENT HOUSING 394613 394613 STUDENT RECRUITING 157162 157162 STAFF/FACULTY RECRUITIN 153261 119360 24491 9410 407976 326435 52632 28909 36361440 30992765 3908549 1460126 2075982 4099844 1095870 1089686 1302632 335550 695126 1373547 17568169 16651967 1124395 1215814 53571814 12061465 42066936 41510349 28492894 28488879 971101 896263 4131806 4135900 99524911 99797799 5924163 6620935 561044 213981 17322794 17133027 1364740 3570955 25172741 27538898 X 51745358 50528363 22606812 21730538 74352170 72258901 99524911 99797799 -1969855 -123414 0 X 0 1 X 1 1 1 X 2941560 4185865 3164946 3989899 4016627 18298897 2941560 4185865 3164946 3989899 4016627 18298897 331900 17966997 445392 311515 557017 880133 979048 3173105 1627272 1719038 5438085 442895 390711 9618001 31090003 133243899 0.57790 0.61480 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 30000 30000 30962765 30992765 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 55984 60000 98000 30000 243984 250000 250000 250000 250000 1000000 1500000 X X X 0 17569324 623431 746002 426397 428117 18084243 17932486 380408 133315 425239 451646 17569324 17841888 582581 994764 399812 1086935 17932486 16997447 450615 1955535 397730 1163979 17841888 18082832 86663 -553570 418298 200180 16997447 0.42980 0.54060 0.02960 1 0 15000 15000 41756418 2692788 39063630 11800396 9368677 2431719 41510349 PERKINS STUDENT LOANS, NET 980301 SCHELL LOANS, NET 100000 OTHER LIABILITIES 211454 PAYCHECK PROTECTION PROGRAM LOAN 2279200 3570955 X 21491671 -123414 -324478 -447892 21939563 110564 12341458 12452022 34391585 22970244 -939174 -939174 23909418 110564 12341458 12452022 36361440 PART III, LINE 4: THE CLEVELAND INSTITUTE OF ART MAINTAINS A STUDY COLLECTION OF ARTWORK GENERALLY DONATED BY FACULTY AND OTHERS. THE STUDY COLLECTION IS USED FOR SCHOLARLY RESEARCH AND PUBLIC DISPLAY THROUGHOUT THE FACILITIES. PART V, LINE 4: INTENDED USE OF ENDOWMENT FUNDS - THE INSTITUTE'S ENDOWMENT CONSISTS OF FUNDS FUNCTIONING AS ENDOWMENT AND PERMANENTLY RESTRICTED ENDOWMENT FUNDS REPRESENTING ENDOWMENT GIFTS RESTRICTED IN PERPETUITY BY DONORS. THE INSTITUTE USES ITS ENDOWMENT FUNDS TO FURTHER ITS EXEMPT EDUCATIONAL PURPOSES. PART X, LINE 2: FIN 48 (ASC 740) FOOTNOTE - THE INSTITUTE IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT THAT IF THE INSTITUTE HAS ANY UNRELATED BUSINESS INCOME, SUCH INCOME WOULD BE SUBJECT TO TAXATION. THE INSTITUTE ADOPTED THE NEW PROVISIONS OF ASC TOPIC 740, "ACCOUNTING FOR INCOME TAXES," WHICH CLARIFY THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS. THE PROVISIONS PRESCRIBE CERTAIN CRITERIA FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THESE PROVISIONS ALSO PROVIDE GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. INTEREST, IF ANY, WILL BE CLASSIFIED IN THE CONSOLIDATED FINANCIAL STATEMENTS AS A COMPONENT OF INTEREST EXPENSE AND STATUTORY PENALTIES, IF ANY, WILL BE CLASSIFIED AS A COMPONENT OF STATE AND LOCAL INCOME TAX EXPENSE. AS OF JUNE 30, 2020, THE INSTITUTE'S AND ITS SUBSIDIARIES' TAX RETURNS REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, AS WELL AS STATE TAXING AUTHORITIES, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUE FROM SUBSIDIARIES INCLUDED IN CONSOLIDATED FIN.STATEMENTS -324,478. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID IS SHOWN AS A REDUCTION OF REVENUE ON FINANCIAL STATEMENTS BUT AS AN EXPENSE ON PART IX OF FORM 990 12,341,458. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES FROM SUBSIDIARIES INCLUDED IN CONSOLIDATED FIN.STATEMENTS -939,174. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID IS SHOWN AS A REDUCTION OF REVENUE ON FINANCIAL STATEMENTS BUT AS AN EXPENSE ON PART IX OF FORM 990 12,341,458. 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 INSTITUTE'S NON-DISCRIMINATION POLICY IS INCLUDED IN PUBLICATIONS, INCLUDING COURSE CATALOGS, AND ADVERTISEMENTS. SCHEDULE E, PART I, LINE 6 THE CLEVELAND INSTITUTE OF ART RECEIVES STUDENT FINANCIAL ASSISTANCE FROM THE U.S. DEPARTMENT OF EDUCATION. THE PROGRAM CONSISTS OF THE FOLLOWING: FEDERAL PELL GRANT PROGRAM, FEDERAL SUPPLEMENTAL EDUCATION AND OPPORTUNITY GRANT PROGRAM, FEDERAL WORK STUDY PROGRAM, AND FEDERAL PERKINS LOAN PROGRAM. ADDITIONALLY, THE INSTITUTE RECEIVED FEDERAL HIGHER EDUCATION EMERGENCY RELIEF FUNDS, AN OPERATING GRANT FROM THE STATE OF OHIO, AND STATE OF OHIO DEPARTMENT OF HIGHER EDUCATION CORONAVIRUS RELIEF FUNDS. 1 STUDENT FINANCIAL AID 625 34200 12307258 FMV SEE PART IV BELOW PART I, LINE 2: MONITORING USE OF GRANT FUNDS - THE INSTITUTE ENSURES THAT ITS GRANTS OF FINANCIAL AID ARE USED BY STUDENTS FOR EDUCATIONAL PURPOSES BY CREDITING THE AID DIRECTLY TO THE STUDENTS' ACCOUNTS OR THROUGH ITS FINANCIAL AID COMPLIANCE PROCESS. THE INSTITUTE ALSO PROVIDES FUNDING FOR TRAVEL EXPENSES, WHICH HAS BEEN INCLUDED IN THE TOTAL ABOVE, FOR A SMALL NUMBER OF STUDENTS WHOSE PROJECT PROPOSALS HAVE BEEN APPROVED BY THE PRESIDENT. X 1 1 X X X X 0 1 0 0 0 0 0 1 0 GRAFTON J NUNES PRESIDENT & CEO 253707 0 39750 0 0 0 19600 0 104933 0 417990 0 0 0 ALMUT ZVOSEC CFO & SVP BUSINESS 156180 0 0 0 0 0 10928 0 5300 0 172408 0 0 0 MARIE-LOUISE GUSTASSON-MONAGO VP INSTITUTIONAL ADVANCEMENT 141193 0 0 0 0 0 9676 0 12737 0 163606 0 0 0 MARK A INGLIS VP MARKETING 138819 0 0 0 0 0 10393 0 11216 0 160428 0 0 0 PART I, LINE 1A BENEFITS PROVIDED TO CERTAIN EMPLOYEES - THE INSTITUTE PAYS FOR DUES TO A SOCIAL CLUB FOR ITS PRESIDENT, GRAFTON NUNES. MR. NUNES USES THE CLUB ENTIRELY FOR BUSINESS PURPOSES, AND ACCORDINGLY, HE DOES NOT REALIZE ANY TAXABLE INCOME FROM THE PAYMENTS. PART I, LINE 4B SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN - THE INSTITUTE SPONSORS A SECTION 457(B) PLAN FOR CERTAIN EXECUTIVES. CONTRIBUTIONS TO THE PLAN ARE ENTIRELY MADE UP OF SALARY DEFERRALS FROM THE PARTICIPANTS. THERE IS NO EMPLOYER MATCH OR OTHER EMPLOYER CONTRIBUTION TO THIS PLAN. IN 2019, GRAFTON NUNES MADE A SALARY DEFERRAL CONTRIBUTION OF $16,487 AND ALMUT ZVOSEC MADE A SALARY DEFERRAL CONTRIBUTION OF $14,640. PART I, LINE 7 A PORTION OF THE BONUS FOR PRESIDENT NUNES IS BASED ON ACHIEVING STUDENT ENROLLMENT TARGETS. PART II, COLUMN D - ADDITIONAL INFORMATION REGARDING BENEFITS: NONTAXABLE BENEFITS FOR GRAFTON NUNES SHOWN ON SCHEDULE J, PART II, COLUMN D AND FORM 990, PART VII, COLUMN F INCLUDE $55,000 FOR THE ESTIMATED BENEFIT VALUE OF TUITION SCHOLARSHIPS FOR DEPENDENT CHILDREN THROUGH THE TUITION EXCHANGE PROGRAM, A RECIPROCAL EDUCATIONAL SCHOLARSHIP PROGRAM BETWEEN MEMBER INSTITUTIONS, OF WHICH THE INSTITUTE IS A MEMBER. THE TUITION EXCHANGE PROGRAM IS OPEN TO ALL FULL-TIME EMPLOYEES WHO HAVE COMPLETED ONE YEAR OF SERVICE. GRAFTON NUNES ALSO PARTICIPATED IN CIA'S TUITION REMISSION PROGRAM OFFERED TO FULL-TIME EMPLOYEES. THE REMISSION AMOUNT WAS $37,000. A OHIO HIGHER EDUCATIONAL FACILITY COMMISSION 346849674 2018-09-19 17215000 PURCHASE STUD. RESID.HALL BLDG. 0 0 0 A 17799259 1081013 180052 355984 16181374 836 2018 0 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 1 0 0 0 0 0 A 1 X 5 0 N/A X 0 N/A X 1 0 N/A X 9 39170 FMV X INSTR.EQUIP. 9 0 N/A X OUTREACH EVENT 1 0 N/A 1 0 1 1 PART I, LINE 32B: USE OF THIRD PARTIES - THE INSTITUTE UTILIZES THE SERVICES OF BROKERS TO SELL DONATED SECURITIES. THE FEES CHARGED BY THE BROKERS ARE AT OR BELOW FAIR MARKET VALUE. PART I, LINE 33: RECORDING REVENUE FOR CERTAIN GIFTS - THE INSTITUTE DID NOT RECORD REVENUE FOR GIFTS OF BOOKS, INTELLECTUAL PROPERTY, AND INSTRUCTIONAL SUPPLIES BECAUSE IT CONSIDERED THE AMOUNTS IMMATERIAL. FORM 990, PART I, LINE 5 AND PART V, LINE 2A: 2019 FORMS W-2 - THE TOTAL OF 567 OF FORMS W-2 ISSUED IN 2019 IS MADE UP OF THE FOLLOWING: STUDENTS ON WORK-STUDY PROGRAMS: 184; FACULTY AND ADMINISTRATIVE STAFF: 168; PART-TIME EMPLOYEES: 215. FORM 990, PART VI, SECTION A, LINE 1 DELEGATION OF AUTHORITY TO EXECUTIVE COMMITTEE - THE INSTITUTE'S CODE OF REGULATIONS GRANTS THE EXECUTIVE COMMITTEE THE FULL POWER TO ACT OF BEHALF OF THE BOARD BETWEEN MEETINGS OF THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 11B REVIEW OF FORM 990 - AFTER PREPARATION OF FORM 990 BY MANAGEMENT AND ITS INDEPENDENT PUBLIC ACCOUNTANTS, AND PRIOR TO FILING, THE AUDIT COMMITTEE REVIEWS THE FORM IN DETAIL AND MANAGEMENT DISTRIBUTES AN ELECTRONIC COPY OF THE FORM 990 TO THE VOTING MEMBERS OF THE BOARD OF DIRECTORS. IN ADDITION, THE AUDIT COMMITTEE REPORTS TO THE BOARD OF DIRECTORS A SUMMARY OF ITS REVIEW OF THE RETURN WITH ITS INDEPENDENT ACCOUNTANTS AT THE NEXT REGULARLY SCHEDULED BOARD MEETING, WHICH OCCURS AFTER THE FILING OF FORM 990. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 PROVIDED TO THE GOVERNING BODY - THE INSTITUTE HAS DISTRIBUTED AN ELECTRONIC COPY OF FORM 990 TO ALL VOTING MEMBERS OF THE BOARD OF DIRECTORS BUT HAS REDACTED THE NAMES AND ADDRESSES OF DONORS FROM SCHEDULE B. BECAUSE OF SCHEDULE B'S PRIVATE AND CONFIDENTIAL NATURE, THE INSTITUTE HAS CHOSEN NOT TO DISCLOSE THE IDENTITIES OF ITS DONORS TO THE BOARD, INCLUDING CASES IN WHICH THE DONOR WISHES TO REMAIN ANONYMOUS. AS SUCH, WE ARE REQUIRED TO ANSWER THE QUESTION ON LINE 11A IN PART VI "NO" EVEN THOUGH THE BOARD RECEIVES ALL OF FORM 990 EXCEPT FOR DONORS' NAMES AND ADDRESSES. FORM 990, PART VI, SECTION B, LINE 12C MONITORING AND ENFORCEMENT OF CONFLICT POLICY - EACH YEAR A CONFLICT OF INTEREST QUESTIONNAIRE IS GIVEN TO THE BOARD OF DIRECTORS, OFFICERS, AND CERTAIN OTHER EMPLOYEES TO BE COMPLETED. THE PRESIDENT AND OTHER ADMINISTRATORS REVIEW THE QUESTIONNAIRES. ANY CONFLICTS ARE THEN REVIEWED BY THE GOVERNANCE COMMITTEE OF THE BOARD. WHEN A CONFLICT ARISES, THE INDIVIDUAL WITH THE CONFLICT IS NOT PERMITTED TO VOTE OR PARTICIPATE IN THE DISCUSSION OF THE PROPOSED TRANSACTION. THE DECISION ABOUT THE TRANSACTION IS MADE BY PERSONS WHO HAVE NO CONFLICT OF INTEREST WITH THE TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION DETERMINATION - THE PRESIDENT'S COMPENSATION IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD WHOSE MEMBERS ARE INDEPENDENT OF THE PRESIDENT. THE EXECUTIVE COMMITTEE USES COMPARABILITY DATA TO ENSURE REASONABLENESS OF COMPENSATION. THE SAME COMMITTEE ALSO REVIEWS COMPENSATION FOR VICE PRESIDENT POSITIONS AS PART OF THE BUDGETING PROCESS. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS - THE ORGANIZATION MAKES ITS CONFLICT OF INTEREST POLICY, GOVERNING DOCUMENTS, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VI, LINE 14: DOCUMENT RETENTION POLICY - THE INSTITUTE IS OPERATING ACCORDING TO DOCUMENT RETENTION AND DESTRUCTION GUIDELINES. THE FORMAL WRITTEN POLICY IS BEING DEVELOPED AND WILL BE PRESENTED TO THE BOARD OF DIRECTORS FOR APPROVAL WHEN COMPLETE. AS SUCH, WE ARE REQUIRED TO ANSWER THE QUESTION ON LINE 14 OF PART VI "NO" EVEN THOUGH DOCUMENT RETENTION AND DESTRUCTION PROCEDURES ARE BEING UTILIZED AT THE INSTITUTE. MCCULLOUGH CENTER MANAGER LLC 11610 EUCLID AVE CLEVELAND OH 44106 274374650 REAL ESTATE MGMT. OH 4096 9876208 CLEVELAND INSTITUTE OF ART