2019-05-15T13:25:25-05:00 2018-06-30 PricewaterhouseCoopers LLP 101 SEAPORT BLVD SUITE 500 BOSTON MA 02210 990 2017-07-01 050508151 RISD HOLDINGS INC % THOMAS MATTOS CONTROLLER RISD 4014546766 TWO COLLEGE STREET PROVIDENCE RI 02903 DAVID PROULX SVP FINANCE & ADMIN 4014546766 2019-05-09 true Erin Couture P01390592 6175305000 2019-05-06 155.201.188.33 04363820191355000054 2019-05-15 P 6782646C9786806572048819E19032829BC88B8A 5A95944E62899E3A12D56A73575418A0C743858E 2017 2019-02-21 02:37:17Z ROSANNE SOMERSON TWO COLLEGE STREET PROVIDENCE RI 02903 1247218 false X WWW.RISD.EDU X 1999 RI SEE SCHEDULE O 5 3 0 0 0 0 0 0 0 0 0 0 386396 383439 386396 383439 0 0 0 0 0 0 0 0 0 260004 260004 260004 260004 126392 123435 5186946 6203693 5971610 6437811 -784664 -234118 X SEE SCHEDULE O false false NONE false false false false false false false false false true false false false true false false true false false false false false false false false false false false true false false false false false false false false false false false true false false true X 0 0 0 false false false false false false X 5 3 true false false false false false false true false false false true false false false false false false X THOMAS MATTOS CONTROLLER 4014546766 TWO COLLEGE STREET PROVIDENCE RI 02903 X ROSANNE SOMERSON PRESIDENT/CHAIR 1.0 50.0 X X 0 562739 78428 SAMUEL B SOLOMON TREAS, SECRETARY (UNTIL 7/17) 1.0 50.0 X X 0 150776 27962 RICHARD W HAINING DIRECTOR 1.0 2.0 X 0 0 0 KAREN HAMMOND DIRECTOR 1.0 2.0 X 0 0 0 PHILIP E TOBEY DIRECTOR 1.0 0.0 X 0 0 0 DAVID PROULX TREAS, SECRETARY (AS OF 4/18) 1.0 50.0 X X 0 0 0 0 713515 106390 0 false true false RHODE ISLAND SCHOOL OF DESIGN TWO COLLEGE STREET PROVIDENCE RI 02903 MAINT REIMBURSEMENT 275570 1 0 0 0 0 0 1247218 863779 383439 0 383439 0 0 0 0 0 0 0 0 0 0 0 383439 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 260004 0 0 0 260004 800039 890857 0 0 0 0 56939 230610 0 0 0 0 0 0 0 0 0 0 6821479 1739253 4329968 5082226 0 0 0 0 0 0 0 0 0 0 5186946 6203693 717951 838908 0 0 53659 46971 0 0 0 0 0 0 0 0 0 0 5200000 5551932 5971610 6437811 X -784664 -234118 0 0 0 0 -784664 -234118 5186946 6203693 X 123435 427111 X false true X true false 1878805 1878805 4942674 1739253 3203421 5082226 0 NOTE PAYABLE 5551932 5551932 182580542 181333324 181333324 1247218 -863779 -863779 383439 147921380 147661376 147661376 260004 260004 SCHEDULE D, PART XI, LINE 2D RISD REVENUE NET OF ELIMINATING ENTRIES $ 181,333,324 SCHEDULE D, PART XI, LINE 4B RENTAL EXPENSE $ (863,779) SCHEDULE D, PART XII, LINE 2D RISD EXPENSE NET OF ELIMINATING ENTRIES $ 146,797,597 RENTAL EXPENSE $ 863,779 -------------------- TOTAL $ 147,661,376 false false false ROSANNE SOMERSON PRESIDENT/CHAIR 0 483273 0 79188 0 278 0 46740 0 31688 0 641167 0 0 SAMUEL B SOLOMON TREAS, SECRETARY (UNTIL 7/17) 0 150614 0 0 0 162 0 14110 0 13852 0 178738 0 0 SCHEDULE J, PART I, LINE 3 IN SETTING THE PRESIDENT'S COMPENSATION, THE FOLLOWING WERE USED BY THE RELATED ORGANIZATION TO ESTABLISH COMPENSATION: - COMPENSATION COMMITTEE - INDEPENDENT COMPENSATION CONSULTANT - FORM 990 OF OTHER ORGANIZATIONS - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE SCHEDULE J, PART III NONE OF THE LISTED INDIVIDUALS RECEIVED ANY COMPENSATION FROM THE FILING ORGANIZATION. DURING 2017, EACH WAS AN EMPLOYEE OF RHODE ISLAND SCHOOL OF DESIGN (RISD), A RELATED ORGANIZATION. FORM 990, PARTS I AND III, LINE 1 THE PURPOSE OF RISD HOLDINGS, INC. IS TO HOLD TITLE TO VARIOUS PROPERTIES, TO COLLECT RENTAL INCOME FROM SUCH PROPERTIES, AND TO TURN OVER THE FULL AMOUNT OF INCOME, LESS EXPENSES, TO RHODE ISLAND SCHOOL OF DESIGN (RISD) TO HELP RISD CARRY OUT ITS EDUCATIONAL MISSION. RISD HOLDINGS, INC. CONDUCTS ITS BUSINESS IN PROVIDENCE, RHODE ISLAND, ADJACENT TO THE RISD CAMPUS. EMPLOYEES FORM 990, PART V, LINE 2A THE ORGANIZATION HAS EMPLOYEES BUT THEIR FORMS W-2 ARE ISSUED FROM RISD. BUSINESS RELATIONSHIP AMONG DIRECTORS/OFFICERS FORM 990, PART VI, LINE 2 ROSANNE SOMERSON AND SAMUEL B. SOLOMON ARE BOTH OFFICERS AND EMPLOYEES OF RHODE ISLAND SCHOOL OF DESIGN, THE PARENT OF THE REPORTING ORGANIZATION. PROCESS USED TO REVIEW FORM 990 FORM 990, PART VI, LINE 11B THE PROCESS FOR THE FY18 FORM 990 INCLUDES REVIEW BY SENIOR MANAGEMENT OF RISD, AND THE INDEPENDENT EXTERNAL TAX CONSULTANTS. THE AUDIT COMMITTEE IS PRESENTED WITH A DRAFT OF THE RETURN FOR ITS REVIEW. THE FULL BOARDS OF BOTH RISD HOLDINGS, INC. AND RHODE ISLAND SCHOOL OF DESIGN RECEIVE A FINAL COPY OF THE FORM 990 BEFORE IT IS FILED. CONFLICT OF INTEREST FORM 990, PART VI, LINE 12A CERTAIN OFFICERS AND DIRECTORS OF THE ORGANIZATION ARE ALSO OFFICERS AND DIRECTORS OF RHODE ISLAND SCHOOL OF DESIGN (RISD). IN THIS CAPACITY, THEY ARE BOUND BY THE CONFLICT OF INTEREST POLICY OF RISD. ON AN ANNUAL BASIS, RISD'S TRUSTEES' OFFICE DISTRIBUTES A SURVEY TO ALL OF THE TRUSTEES REQUESTING INFORMATION ON MATTERS RELATING TO RISD'S CONFLICT OF INTEREST POLICY. THERE ARE FOLLOW UP PROCEDURES TO ENSURE THAT SURVEYS ARE COMPLETED AND RETURNED FOR REVIEW. THE GENERAL COUNSEL'S OFFICE PROVIDES ASSISTANCE TO TRUSTEES BY RESPONDING TO ANY QUESTIONS THEY MAY HAVE. RESULTS OF THE COMPLETED SURVEYS ARE PRESENTED TO THE TRUSTEES' AUDIT COMMITTEE. THE THRESHOLD FOR REPORTING TO THE COMMITTEE IS MORE THAN $10,000 PER YEAR (IN THE AGGREGATE, FOR EACH TRUSTEE). IN ADDITION TO THE ANNUAL SURVEY, THE TRUSTEES ARE REQUIRED TO DISCLOSE ANY ADDITIONAL CONFLICTS THAT MAY ARISE DURING THE COURSE OF THE YEAR. FURTHER, WHENEVER ANY MATTER INVOLVING A CONFLICT OF INTEREST ON THE PART OF ANY TRUSTEE IS DISCUSSED OR PROPOSED FOR ACTION AT BOARD OR COMMITTEE MEETINGS, SUCH CONFLICT SHALL BE DISCLOSED TO OTHER TRUSTEES PRESENT, AND THE TRUSTEE HAVING SUCH CONFLICT SHALL NOT VOTE OR USE HIS OR HER PERSONAL INFLUENCE ON THE MATTER. WHISTLEBLOWER, DOCUMENT RETENTION, AND DESTRUCTION FORM 990, PART VI, LINES 13 AND 14 CERTAIN OFFICERS AND DIRECTORS OF THE ORGANIZATION ARE ALSO OFFICERS AND DIRECTORS OF RHODE ISLAND SCHOOL OF DESIGN (RISD). RISD HAD THEIR WRITTEN POLICIES IN PLACE DURING FY18; HOWEVER, THE RISD BOARD HAS NOT APPROVED THE DOCUMENT RETENTION AND DESTRUCTION POLICY. PUBLIC AVAILABILITY OF FINANCIAL STATEMENTS FORM 990, PART VI, LINE 19 RISD HOLDINGS' FINANCIAL STATEMENTS ARE INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS OF THE RHODE ISLAND SCHOOL OF DESIGN THAT ARE MADE AVAILABLE ON WWW.RISD.EDU AND ALSO BY REQUEST. COMPENSATION FORM 990, PART VII, SECTION A THE OFFICERS ARE COMPENSATED IN CONNECTION WITH THEIR SERVICES TO RISD FOR WHICH THEY WORK 50 HOURS. IT IS ESTIMATED THAT AN ADDITIONAL HOUR PER WEEK IS WORKED BY EACH OFFICER ON BEHALF OF RISD HOLDINGS. RECONCILIATION OF NET ASSETS FORM 990, PART XI, LINE 9 TRANSFER OF NET ASSETS FROM RISD $ 427,111 RHODE ISLAND SCHOOL OF DESIGN TWO COLLEGE STREET PROVIDENCE RI 02903 050258956 EDUCATION RI 501(C)(3) 2 NA false WASHINGTON PLACE HOLDINGS LP 550 SOUTH TRYON ST STE 3500 CHARLOTTE NC 28202 611797922 INVESTMENT NC N/A CHARITABLE REMAINDER TRUSTS (8) FUNDRAISING MA NA TRUST false false false false false true false false false false true false false true false true true false false true SCHEDULE R, PART IV, LINE 1 CHARITABLE REMAINDER TRUSTS ARE DOMICILED IN MASSACHUSETTS, MARYLAND, CALIFORNIA, AND CONNECTICUT. SCHEDULE R, PART V, LINE 1O THE SUPERINTENDENT RECEIVES COMPENSATION AND A FORM W-2 FROM RISD, BUT SPENDS THE MAJORITY OF HIS TIME PERFORMING SERVICES FOR RISD HOLDINGS. RISD HOLDINGS REIMBURSES RISD FOR THE TOTAL COMPENSATION PAID TO THE SUPERINTENDENT.