2018-05-08T14:00:07-05:00 2017-06-30 861065772 Deloitte Tax LLP 50 South Sixth Street Suite 2800 Minneapolis MN 55402 990 2016-07-01 362167725 The Art Institute of Chicago ARTI 3124433600 111 South Michigan Avenue Chicago IL 60603 Alexandra Holt Exec VP, Finance & Administration 2018-05-03 true Kristina Rasmussen P00143920 6123974000 2016 2022-09-23 18:48:47Z Alexandra Holt 111 South Michigan Avenue Chicago IL 60603 348022176 false X www.artic.edu and www.saic.edu X 1879 IL To found, build, maintain and operate museums, schools, and libraries of art and theatres. (See Schedule O) 73 73 4069 697 3126627 0 112018613 61073788 193030377 199220523 35771449 50002827 10520134 9014704 351340573 319311842 40251612 42787866 0 0 122058323 134734791 158833 109899 9096171 132624158 137864386 295092926 315496942 56247647 3814900 1489564148 1566021763 318053660 298337472 1171510488 1267684291 See Schedule O false false 168568268 42787866 172048350 The School of the Art Institute of Chicago (SAIC) is an accredited college of art and design offering undergraduate, graduate, and post-baccalaureate degree programs for studio artists, art educators, art therapists, designers, writers, and art historians. SAIC's fine arts graduate program consistently ranks among the top programs in the nation by U.S. News and World Report, and the school offers world-class resources including connections and special access to the Art Institute of Chicago, on-campus galleries, and state of the art facilities. In fiscal year 2017, average academic year full-time-equivalent enrollment of degree-seeking students was 3,457 including international students from 64 countries. 101678890 31759069 The Museum's mission is to collect, preserve, and interpret works of art of the highest quality from across the globe for the inspiration and education of its visitors. It achieves this through building and stewarding its renowned permanent collection, producing educational programming around the collection with daily performances, gallery tours, lectures, readings, and other special events, and presenting world class exhibitions highlighting both its collection and objects loaned from other institutions. The Art Institute's encyclopedic collection consists of approximately 300,000 works of art in 11 curatorial departments. The museum has the third largest collection of art in the country. Exhibitions featured within fiscal year 2017 include Gauguin: Artist as Alchemist, Moholy Nagy: Future Present, The Photographer's Curator: Hugh Edwards at the Art Institute of Chicago, and Helio Oiticica: To Organize Delirium. Attendance exceeded 1.6 million visitors in fiscal year 2017. 270247158 true true false true false false false true false true true true false false true true true false true false true false false true true true false false true true true true false false false false false false false true false true true false false true true true true false false true 1037 4 true 4069 true true true false false false false true true false false false false X 73 73 true false true false false false false true true false false false true true true true true true true true false AL AK CA CO DC IL KS KY MD MA MI MS NH NJ NY ND OH OK OR SC UT VA WA WI LA X X Alexandra Holt 3124994265 111 South Michigan Avenue Chicago IL 60603 Jay Krehbiel Treasurer 1.0 X X 0 0 0 Robert M Levy Chairman 1.0 X X 0 0 0 Cary D McMillan Vice Chairman 1.0 X X 0 0 0 Andrew M Rosenfield Vice Chairman 1.0 X X 0 0 0 Anne Bent Searle Vice Chairman 1.0 X X 0 0 0 David J Vitale Vice Chairman 1.0 X X 0 0 0 Frederick H Waddell Vice Chairman 1.0 X X 0 0 0 James N Bay Trustee 1.0 X 0 0 0 Neil G Bluhm Trustee 1.0 X 0 0 0 Barbara Bluhm-Kaul Trustee 1.0 X 0 0 0 Toni Canada Trustee 1.0 X 0 0 0 John S Chapman Trustee 1.0 X 0 0 0 Lester N Coney Trustee 1.0 X 0 0 0 A Steven Crown Trustee 1.0 X 0 0 0 William M Daley Trustee - End date 11/15/16 1.0 X 0 0 0 Shawn M Donnelley Trustee 1.0 X 0 0 0 Janet Duchossois Trustee 1.0 X 0 0 0 Fred Eychaner Trustee 1.0 X 0 0 0 Stephanie Field Harris Trustee 1.0 X 0 0 0 Aaron Fleischman Trustee 1.0 X 0 0 0 Rebecca Ford Terry Trustee - Resigned 11/15/16 1.0 X 0 0 0 Karen Frank Trustee 1.0 X 0 0 0 Jay Franke Trustee 1.0 X 0 0 0 Denise B Gardner Trustee 1.0 X 0 0 0 Sarah Nava Garvey Trustee 1.0 X 0 0 0 Matthew R Gibson Trustee 1.0 X 0 0 0 Jean Goldman Trustee 1.0 X 0 0 0 James A Gordon Trustee 1.0 X 0 0 0 Kenneth C Griffin Trustee 1.0 X 0 0 0 Joseph Gromacki Trustee 1.0 X 0 0 0 Ann E Grube Trustee 1.0 X 0 0 0 Darrel Hackett Trustee 1.0 X 0 0 0 Adnaan Hamid Trustee 1.0 X 0 0 0 Caryn Harris Trustee 1.0 X 0 0 0 David C Hilliard Trustee 1.0 X 0 0 0 Linda Johnson Rice Trustee 1.0 X 0 0 0 John W Jordan II Trustee - Resigned 10/31/16 1.0 X 0 0 0 Pamela Joyner Trustee 1.0 X 0 0 0 Judy Keller Trustee 1.0 X 0 0 0 Rita Knox Trustee 1.0 X 0 0 0 Anstiss Hammond Krueck Trustee 1.0 X 0 0 0 Paul Lambert Trustee 1.0 X 0 0 0 Eric Lefkofsky Trustee 1.0 X 0 0 0 Lawrence F Levy Trustee 1.0 X 0 0 0 Barbara Levy Kipper Trustee 1.0 X 0 0 0 Barry L MacLean Trustee 1.0 X 0 0 0 John F Manley Trustee 1.0 X 0 0 0 H George Mann Trustee 1.0 X 0 0 0 Joe Mansueto Trustee 1.0 X 0 0 0 Howard M McCue III Trustee 1.0 X 0 0 0 Eric T McKissack Trustee 1.0 X 0 0 0 Samuel M Mencoff Trustee 1.0 X 0 0 0 Sylvia M Neil Trustee 1.0 X 0 0 0 Alexandra C Nichols Trustee 1.0 X 0 0 0 Cynthia Perucca Trustee - Resigned 11/15/16 1.0 X 0 0 0 Harvey Plotnick Trustee 1.0 X 0 0 0 Anne Pramaggiore Trustee 1.0 X 0 0 0 Thomas J Pritzker Trustee 1.0 X 0 0 0 Bob Rennie Trustee 1.0 X 0 0 0 J Christopher Reyes Trustee 1.0 X 0 0 0 Michael Sacks Trustee 1.0 X 0 0 0 Ellen Sandor Trustee 1.0 X 0 0 0 Scott Santi Trustee 1.0 X 0 0 0 Gordon Segal Trustee 1.0 X 0 0 0 Brenda M Shapiro Trustee 1.0 X 0 0 0 Sophia Shaw Trustee 1.0 X 0 0 0 Stephanie Sick Trustee 1.0 X 0 0 0 Prabhakant Sinha Trustee 1.0 X 0 0 0 Stephanie Skestos Gabriele Trustee 1.0 X 0 0 0 Linda Smith Buonanno Trustee 1.0 X 0 0 0 Louis B Susman Trustee 1.0 X 0 0 0 Marilynn Thoma Trustee 1.0 X 0 0 0 Reeve B Waud Trustee 1.0 X 0 0 0 Shirley Welsh Ryan Trustee 1.0 X 0 0 0 Laura Werner Trustee 1.0 X 0 0 0 Roger L Weston Trustee 1.0 X 0 0 0 Dave Walker Trustee 1.0 X 0 0 0 James Rondeau President, Museum 40.0 X 525035 0 68860 Elissa Tenny President, School 40.0 X 434232 0 25376 Julia Getzels EVP & General Counsel 40.0 X 447632 0 108607 Alison Sowden Executive VP & CFO 40.0 X 374877 0 40039 David Thurm COO, Museum 40.0 X 478983 0 53959 Lisa Wainwright Dean of Faculty/VP Acad Admin 40.0 X 247930 0 48418 Brian Esker VP of Finance & Admin, School 40.0 X 234278 0 75430 Jeanne Ladd VP of Museum Finance 40.0 X 366066 0 76145 Rose Milkowski VP for Enrollment Management 40.0 X 213828 0 22958 Thomas Buechele VP for Campus Operations, School 40.0 X 192843 0 86029 Evelyn Jeffers VP for Museum Development 40.0 X 475783 0 48242 Michael Nicolai Chief Human Resources Officer 40.0 X 212445 0 77773 Andrew Simnick Sr VP for Finance, Strategy, & Ops 40.0 X 179118 0 30975 Sarah Guernsey Deputy Director, Curatorial Affairs 40.0 X 153258 0 58697 Martha Tedeschi Deputy Director, Art & Research 40.0 X 112035 0 49996 Gordon Montgomery VP of Marketing 40.0 X 216041 0 40469 Judith Kirshner Deputy Director Education 40.0 X 256342 0 4414 Eugene Adams Chief Information Officer 40.0 X 217048 0 102334 Deborah Johnston Controller 40.0 X 204145 0 36020 Paul Coffey Vice Provost 40.0 X 203486 0 90048 Douglas Druick Former President, Museum 40.0 X 589270 0 -40796 Walter Massey Chancellor, Former President, SAIC 40.0 X 472440 0 27621 6807115 0 1131614 141 true true true Securitas Security Services USA Inc 4330 Park Terrace Drive Westlake Village CA 91361 Security Services 5908177 MA Mortenson Company 25 NW Point Blvd Ste 100 Elk Grove Village IL 60007 Construction Services 5343391 Able Engineering Services Inc 868 Folsom Street San Francisco CA 94107 Engineering Services 3842265 Turner Construction Company 375 Hudson Street New York NY 10014 Construction Services 2530583 Food For Thought 7001 Ridgeway Ave Lincolnwood IL 60712 Catering Services 2093985 85 X 0 14975469 3783611 0 6522105 35792603 6352328 61073788 Tuition and Fees 611600 169316138 169316138 Museum Admissions 900099 17389840 17389840 Proceeds from Sale of Art 900099 5005245 5005245 Member Program Revenues 900099 1086741 1086741 Other Restricted Prog Rev 900099 1565126 1565126 4857433 4857433 0 0 199220523 7584526 7584526 160491 160491 3580500 1113659 2466841 0 2466841 186675 2280166 62162883 19744582 42418301 0 42418301 42418301 489455 3783611 1612748 -1123293 -1123293 17240 33423 -16183 -16183 13732770 6205922 7526848 4586896 2939952 0 0 0 0 0 319311842 203807419 3126627 51304008 42787866 42787866 5107652 3430360 1173787 503505 231433 231433 94143378 79473161 10597985 4072232 9503235 7114505 1692034 696696 19037765 15449766 2649286 938713 6711328 5620910 795317 295101 487924 487924 489095 489095 15093 15093 109899 109899 3315697 3315697 16137232 13886798 906878 1343556 2629732 2541280 88452 11053945 10009372 565605 478968 3308451 2123720 1116615 68116 187648 187648 23390169 22581040 697747 111382 3893064 3636032 85573 171459 459482 300793 116083 42606 8730601 5419014 3311587 16051 16051 28527558 27462808 1064750 1628478 1628478 Accessions/Books/Other Art 16400128 16400128 Loss on Retirement/Defeasance 6368910 6368910 Other FF&E and Related Maintenance 5032650 4635839 391046 5765 Exhibition Related 2187744 2187744 3604734 3107319 327694 169721 315496942 270247158 36153613 9096171 8222174 4171591 71228009 64506600 5843246 5752310 0 0 4013470 4085307 4481199 4324145 5207284 2145813 748197333 291254364 459844519 456942969 540607052 586938343 385580790 434307758 0 4536405 2846927 1489564148 1566021763 35112387 39182684 20100131 18715515 162038817 150560871 54000000 56800000 46802325 33078402 318053660 298337472 X 155717157 195484832 590045113 631771739 425748218 440427720 1171510488 1267684291 1489564148 1566021763 X 3814900 76172062 0 0 0 16186841 X false true X true true true X 46154437 76297506 64644760 106285789 55429565 348812057 5575830 5613886 5689620 5732824 5644223 28256383 0 0 51730267 81911392 70334380 112018613 61073788 377068440 27145842 349922598 10073071 9602085 9794570 10339909 11138842 50948477 0 0 902527 754785 693874 762813 506695 3620694 431637611 974036312 0.8107 0.8114 X 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 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 0 0 X 0 0 0 0 0 0 Schedule A, Part II, Line 10 Other Income DESCRIPTION - FUNDRAISING EVENTS & GAMING ACTIVITIES NOT INCLUDED ELSEWHERE, COLUMN A - 902527.0, COLUMN B - 754785.0, COLUMN C - 693874.0, COLUMN D - 762813.0, COLUMN E - 506695.0, COLUMN F - 3620694.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false true 0 false true 15093 15093 false Schedule C, Part II-B, Line 1g Line 1g has been answered "yes" because the School's President signed a public statement in support of upholding the Deferred Action for Childhood Arrivals Act. No expenditures were made in connection with this action. Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY The amount in line 1i represents the Art Institute of Chicago's portion of funds utilized by Museums in the Park for lobbying activities ($13,804), a good-faith estimate of the percentage of membership dues paid to the National Association of Independent Colleges and Universities ($913), Chicagoland Chamber of Commerce ($175) that supported lobbying, estimate percentage of dues paid to the ACA International ($123) for lobbying activities on behalf of its members, percentage of dues paid to the Coalition of Higher Education Assistance Organizations ($53), estimated portion of dues paid to Choose Chicago ($22) allocated to lobbying expenses and an estimated percentage of dues paid to the American Society of Safety Engineers ($3). Museums in the Park works with the Chicago Park District, Chicago Public Schools, the City of Chicago, the State of Illinois and other entities to build greater awareness of the intrinsic value of museums. Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY The amount in line 1i represents the Art Institute of Chicago's portion of funds utilized by Museums in the Park for lobbying activities ($13,804), a good-faith estimate of the percentage of membership dues paid to the National Association of Independent Colleges and Universities ($913), Chicagoland Chamber of Commerce ($175) that supported lobbying, estimate percentage of dues paid to the ACA International ($123) for lobbying activities on behalf of its members, percentage of dues paid to the Coalition of Higher Education Assistance Organizations ($53), estimated portion of dues paid to Choose Chicago ($22) allocated to lobbying expenses and an estimated percentage of dues paid to the American Society of Safety Engineers ($3). Museums in the Park works with the Chicago Park District, Chicago Public Schools, the City of Chicago, the State of Illinois and other entities to build greater awareness of the intrinsic value of museums. X X X X true 970926874 24548779 126227068 4021698 57793486 3315697 1056571840 962156186 85880530 -15202998 3803429 55602314 2501101 970926874 1004102659 39741238 32661422 3465407 108323033 2560693 962156186 870433675 30936999 149438324 3248116 40800273 2657950 1004102659 804735325 6403600 104193471 3098618 39156633 2643470 870433675 0.32 0.42 0.26 false true true 35057096 35057096 58517837 28101335 30416502 625820312 241206364 384613948 28718028 21946665 6771363 84060 0 84060 456942969 Hedge Funds 276390813 F Venture Capital /Private Equity 94245065 F Real Assets 63671880 F 434307758 Pension Liability 29226954 Refundable Advances 3851448 33078402 X 418451530 76172061 1130731 16186841 93489633 324961897 3315697 -8965752 -5650055 319311842 322277728 1130731 8965752 10096483 312181245 3315697 0 3315697 315496942 Schedule D, Part III, Line 1a Collections of art - financial statement footnote From page 8 of the Institute's audited financial statements: "The value of the art objects in the permanent collection, and the holdings of the libraries, are excluded from the statements of financial position. Additions to the permanent collection are made either by gifts, bequests, or through purchases using Institute's acquisition funds. Institute's acquisition funds may be classified as permanently restricted, for which only the income earned on principal balances may be used for acquisitions; temporarily restricted, for which both the principal and earned income may be used for acquisitions; or unrestricted, representing funds designated by the Board to be used for acquisitions. The withdrawal of works of art from the collection of the Institute is performed in accordance with a formal policy initially adopted in 1975 and last revised in fiscal year 2013. The objects are generally offered for sale at a public auction and the proceeds from such dispositions are classified as temporarily restricted for the purchase of works of art. All works of art and certain library collections are held for public exhibition, education, or research; they are protected, kept unencumbered, cared for, and preserved, and are subject to strict organizational policies governing their use. The value of the Institute's permanent collection is not subject to reasonable estimation. Therefore, it is not included in the statements of financial position." Schedule D, Part III, Line 4 Collections of art - description of collections The Institute's permanent collection consists of art objects as well as the holdings of the libraries. All works of art and certain library collections are held for public exhibition, education, or research in furtherance of the Institute's exempt purpose. Schedule D, Part V, Line 4 Intended uses of endowment funds The Institute establishes endowment funds for the purpose of investing assets in a manner that preserves the real value of the endowment principal and provides spendable funds that can be used to fulfill the purposes for which the endowments were established. The Institute's Executive Committee of the Board of Trustees determines the method to be used to appropriate endowment funds for expenditure. The Institute's spendable endowment payout formula is a controlled growth distribution formula. Depending upon market conditions and the needs and available resources of the Institute, appropriations for expenditure from individual endowments may be temporarily suspended to facilitate preservation of the endowment or in excess of the spending policy as deemed prudent by the Executive Committee. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote From page 10 of the Institute's audited financial statements: "The Institute is a not-for-profit corporation exempt from federal income tax under Section 501(a) of the Internal Revenue Code as an organization described in Section 501(c)(3); the Institute is similarly exempt from state income taxes. Despite the general exemption from income taxation, the Institute is subject to federal and state income tax at corporate rates on its unrelated business income. Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 740, Income Taxes, prescribes a comprehensive model for how an institution should recognize, measure, present, and disclose in its financial statements uncertain tax positions that the institution has taken or expects to take on a tax return. For federal purposes, the Institute has reported federal net operating losses ("NOLs") of approximately $8.7 million for tax periods through June 30, 2016. The Institute does not have the ability to estimate the NOL through June 30, 2017, as the NOL calculation is reliant upon third-party information, which is not yet available. These NOLs will expire, if not utilized, between the years 2027 and 2036. The Institute has not recorded a tax benefit for these NOLs for the years ended June 30, 2017 and 2016, because it is unlikely that the Institute will be able to realize the benefit." The financial statements did not report uncertain tax positions. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 Pension-Related Changes Other Than Net Periodic Pension Cost - 16186841 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements Cost of Goods Sold - -6205922 Rental Expenses - -1113659 Special Events - -1612748 Raffles - -33423 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 Cost of Goods Sold - 6205922 Rental Expenses - 1113659 Special Events - 1612748 Raffles - 33423 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 The nondiscriminatory policy is publicized in a variety of materials, including the student bulletin, the course schedule issued each semester, initial marketing materials, and the student handbook. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT The Institute receives federal financial aid funding from the Department of Education under the following programs: Federal Pell Grant Program Federal Supplemental Educational Opportunity Grants Program Federal Work Study Program East Asia and the Pacific Program Services Conf, Lectures, Other Education 27490 Europe (Including Iceland and Greenland) 3 Program Services Conf, Lectures, Other Education 239853 North America (Canada & Mexico only) 3 Program Services Conf, Lectures, Other Education 91511 Russia and Neighboring States Program Services Conf, Lectures, Other Education 102 South Asia Program Services Conf, Lectures, Other Education 5236 South America Program Services Conf, Lectures, Other Education 25000 Sub-Saharan Africa Program Services Conf, Lectures, Other Education 164 East Asia and the Pacific 3 Program Services Exhibitions 25851 Europe (Including Iceland and Greenland) 9 Program Services Exhibitions 555841 North America (Canada & Mexico only) 1 Program Services Exhibitions 24789 Russia and Neighboring States Program Services Exhibitions 5415 South Asia Program Services Exhibitions 189 South America Program Services Exhibitions 16700 Sub-Saharan Africa Program Services Exhibitions 8598 Europe (Including Iceland and Greenland) Program Services Marketing/Public Relations 1600 North America (Canada & Mexico only) Program Services Marketing/Public Relations 757 Russia and Neighboring States Program Services Marketing/Public Relations 64 South America Program Services Marketing/Public Relations 622 East Asia and the Pacific Program Services Member Travel 4126 Europe (Including Iceland and Greenland) Program Services Member Travel 7153 North America (Canada & Mexico only) Program Services Member Travel 1993 Sub-Saharan Africa Program Services Member Travel 312 Central America and the Caribbean Program Services Recruiting 16 East Asia and the Pacific Program Services Recruiting 96368 Europe (Including Iceland and Greenland) Program Services Recruiting 14936 Middle East and North Africa Program Services Recruiting 2763 North America (Canada & Mexico only) Program Services Recruiting 21773 South Asia Program Services Recruiting 12503 South America Program Services Recruiting 15075 East Asia and the Pacific Program Services Research 9252 Europe (Including Iceland and Greenland) Program Services Research 89501 North America (Canada & Mexico only) Program Services Research 3017 South Asia Program Services Research 419 Sub-Saharan Africa Program Services Research 656 Central America and the Caribbean Program Services Study Trips 21890 East Asia and the Pacific Program Services Study Trips 44723 Europe (Including Iceland and Greenland) Program Services Study Trips 271161 Middle East and North Africa Program Services Study Trips 363 South Asia Program Services Study Trips 31928 South America Program Services Study Trips 3118 Sub-Saharan Africa Program Services Study Trips 1379 Central America and the Caribbean ,Passive Investments N/A 311431602 Europe (Including Iceland and Greenland) ,Passive Investments N/A 298715 0 19 0 0 0 19 1029096 312385428 313414524 true false true true true false X X X X X X X true SD&A Teleservices Inc 5757 W Century Blvd Los Angeles CA 90045 Telemarketing false 124835 109899 14936 124835 109899 14936 AL AK CA CO DC FL IL KS KY MD MA MS NH NJ NY ND OH OK OR SC UT VA WI WA MI Women's Bd Masterpiece 17 2600039 2498139 101900 0 0 7833 21663 0 889263 GSFC Annual Gala 376560 336060 40500 0 0 240 90208 0 17654 9 1296467 949412 347055 0 79092 17868 233517 0 255410 4273066 3783611 489455 0 79092 25941 345388 0 1162327 1612748 -1123293 17240 33423 true 1.0 17240 33423 IL true false true false 0.67 0.33 Deborah Johnston 111 South Michigan Avenue Chicago IL 60603 false Shannon Burke 0 No employee is compensated as a gaming manager. Individuals listed as gaming manager on line 16 are responsible for the record-keeping of events that have a gaming component. X false 0 Schedule G, Part I, Line 2b(v) payment of fees or payment of expenses SD&A TELESERVICES, INC-AIC PAYS FUNDRAISING CONSULTANT FEES AT A STATED RATE PER CONTRACT AND OTHER ADMINISTRATIVE COSTS SUCH AS POSTAGE, PRINTING, AND OFFICE OVERHEAD. PROFESSIONAL SERVICES FEES AND ADMINISTRATIVE COSTS WERE $68,137 AND $41,762 RESPECTIVELY.; Schedule G, Part III, Line 16 Additional Gaming Manager Information GAMINGMANAGERBUSINESSNAME=DIONNE SMITH,GAMINGMANAGERSERVICESPROVTXT=NO EMPLOYEE IS COMPENSATED AS A GAMING MANAGER. INDIVIDUALS LISTED AS GAMING MANAGER ON LINE 16 ARE RESPONSIBLE FOR THE RECORD-KEEPING OF EVENTS THAT HAVE A GAMING COMPONENT.,GAMINGMANAGERISEMPLOYEEIND; true Faculty Enrichment Grants 59 101055 N/A N/A Student Scholarships and Stipends 3318 42686811 N/A N/A Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. Scholarships and stipends are available to undergraduate students and graduate students through the admissions process. Once awarded, depending on the type of aid, payment is credited to either the student account or directly to the student. All payments are monitored and approved by the Financial Services department before payment is applied or paid to the student. All students receiving scholarships and stipends have been selected on a non-discriminatory basis. Faculty enrichment grant opportunities are available to full-time and part-time faculty teaching in a degree program. Selections are based on the merit of the proposal and reviewed by members of a selection committee. Payment are monitored by the Dean's office and all payments are approved by the Vice Provost and School Finance department before payment is made. X X X X true true X X X X X true true false false false false false false false James Rondeau President, Museum 505755 0 0 0 19280 0 60000 0 8860 0 593895 0 0 0 Elissa Tenny President, School 385909 0 0 0 48323 0 23850 0 1526 0 459608 0 0 0 Julia Getzels EVP & General Counsel 376362 0 0 0 71270 0 82000 0 26607 0 556239 0 0 0 Alison Sowden Executive VP & CFO 350084 0 0 0 24793 0 23850 0 16189 0 414916 0 0 0 David Thurm COO, Museum 436406 0 0 0 42577 0 23850 0 30109 0 532942 0 0 0 Lisa Wainwright Dean of Faculty/VP Acad Admin 246872 0 0 0 1058 0 22996 0 25422 0 296348 0 0 0 Brian Esker VP of Finance & Admin, School 215763 0 0 0 18515 0 65000 0 10430 0 309708 0 0 0 Jeanne Ladd VP of Museum Finance 134434 0 0 0 231632 0 60000 0 16145 0 442211 0 0 0 Rose Milkowski VP for Enrollment Management 213373 0 0 0 455 0 19447 0 3511 0 236786 0 0 0 Thomas Buechele VP for Campus Operations, School 191507 0 0 0 1336 0 60000 0 26029 0 278872 0 0 0 Evelyn Jeffers VP for Museum Development 447767 0 0 0 28016 0 23850 0 24392 0 524025 0 0 0 Michael Nicolai Chief Human Resources Officer 191409 0 0 0 21036 0 48000 0 29773 0 290218 0 0 0 Andrew Simnick Sr VP for Finance, Strategy, & Ops 178164 0 0 0 954 0 16722 0 14253 0 210093 0 0 0 Sarah Guernsey Deputy Director, Curatorial Affairs 152742 0 0 0 516 0 34000 0 24697 0 211955 0 0 0 Martha Tedeschi Deputy Director, Art & Research 110811 0 0 0 1224 0 36000 0 13996 0 162031 0 0 0 Gordon Montgomery VP of Marketing 211299 0 0 0 4742 0 19100 0 21369 0 256510 0 0 0 Judith Kirshner Deputy Director Education 54896 0 200000 0 1446 0 4050 0 364 0 260756 0 66666 0 Eugene Adams Chief Information Officer 196981 0 0 0 20067 0 73000 0 29334 0 319382 0 0 0 Deborah Johnston Controller 197458 0 0 0 6687 0 18750 0 17270 0 240165 0 0 0 Paul Coffey Vice Provost 201374 0 0 0 2112 0 63000 0 27048 0 293534 0 0 0 Douglas Druick Former President, Museum 67438 0 0 0 521832 0 -44000 0 3204 0 548474 0 0 0 Walter Massey Chancellor, Former President, SAIC 428204 0 0 0 44236 0 27609 0 12 0 500061 0 0 0 Schedule J, Part I, Line 1a First-class or charter travel First class travel is allowed under limited circumstances as set forth in the travel policy. Schedule J, Part I, Line 1a Travel for companions The Presidents of the Museum and the School and the Chancellor are allowed to have their partners accompany them on business trips if their presence is necessary for a specific, bonafide purpose of the Institute. Schedule J, Part I, Line 1a Housing allowance or residence for personal use The President of the School is paid a housing allowance of $4000 per month which is treated as taxable compensation. Schedule J, Part I, Line 1a Health or social club dues or initiation fees Athletic, social, or other club fees incurred by the President of the School, the President of the Museum, and the Chancellor are reimbursed to the extent they are used for business purposes. In addition, the employment contracts for the President of the School and the Chancellor allow for reimbursement for up to $5,000 annually for fees and membership dues for athletic, social, or other clubs used for personal, non-business purposes. The annual amounts reimbursed are reported as taxable compensation. Schedule J, Part I, Line 4a Severance or change-of-control payment The following individuals received severance payments: Douglas Druick amount paid in calendar year 2016 of $291,284 Jeanne Ladd amount paid in calendar year 2016 of $214,406 Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan As noted in page 25 of the audited financial statements, a supplemental non qualified retirement plan exists for the benefit of a select group of management or highly compensated employees whose benefits under other Institute qualified retirement plans are limited by the IRS. Employees are eligible if their compensation for a plan year is in excess of the IRS limits under Code Section 401(a)17), if they received a benefit accrual or employer contribution under other Institute qualified plans, and if they have not voluntarily terminated employment prior to the first business day following the plan year. Benefits are calculated based on the excess of benefits that would be provided under Institute qualified plans if IRS compensation limits did not exist. The following individuals received payments under the supplemental retirement plan: Douglas Druick amount paid in calendar year 2016 of $200,000 Walter Massey amount paid in calendar year 2016 of $26,236 Julia E. Getzels amount paid in calendar year 2016 of $51,449 David Thurm amount paid in calendar year 2016 of $17,196 Elissa Tenny amount paid in calendar year 2016 of $3,514 Eve Jeffers amount paid in calendar year 2016 of $7,870 Alison Sowden amount paid in calendar year 2016 of $4,200 Gordon Montgomery amount paid in calendar year 2016 of $4,060 A Illinois Finance Authority 861091967 45200FVM8 2009-03-26 139158000 Construction/Renovation of Museum Facilities true false false B Illinois Finance Authority 861091967 45200F3N7 2010-06-09 113537854 Refund 10/15/1992, 2/23/1995, and 3/27/1996 Bonds; Adv Refund Portion of 2/9/2000 Series 2000A Bonds false false false C Illinois Finance Authority 861091967 45203HMP4 2012-10-18 66292422 Advance refund portions of 3/18/98 Srs 1998A, 2/9/00 Srs 2000A, 7/9/03 Srs 2003A, 5/20/10 Srs 2010B false false false D Illinois Finance Authority 861091967 45204EHD3 2016-08-25 42808133 Advance refund Series 2009A Bonds issued 3/26/2009 false false false A 80000000 40000000 139158000 1855854 139158000 2009 false false true true B 60595000 113537854 5986 113531868 true true true true C 26000000 66292422 66292422 false true true true D 42808133 42803373 4760 174652 false true true true A false false false false 0.0 0.0 0.0 false false true B 0.0 C false false false false 0.0 0.0 0.0 false false true D false false false false 0.0 0.0 0.0 false false true A false false true false true false false true true B false false false true false false false false true C false true false false false false false false true D false true false false false false false false true A true B true C true D true Schedule K, Part II, Line 9 Column B This amount differs slightly from what was shown on the 8038 Form that was filed for the bonds. Schedule K, Part II, Line 11 Column B This amount differs slightly from what was shown on the 8038 Form that was filed for the bonds. Schedule K, Part IV, Line 2c Column B Based on the rebate computation completed on 7/24/2015, no rebate is due. Schedule K, Part IV, Line 3 Column A A portion of the Series 2009 Bonds were originally variable rate as shown on the 8038 Form; however, this variable rate portion has been refunded so the remaining bonds are fixed rate. Schedule K, Part IV, Line 6 Columns B & D This question is being answered without regard to yield-restricted advance refunding escrow financed with proceeds of the bonds. Schedule K, Part IV, Line 6 Column A Such amounts were appropriately yield-restricted. Schedule K, Part IV, Line 2c COLUMN B Issuer name: Illinois Finance Authority The calculation for computing no rebate due was performed on 07/24/2015 Peter Haratonik Family Member of Elissa Tenny, Current Officer 23180 Employee Compensation false X 707 0 Other - See Part II X 57 0 Other - See Part II X 32919 Market value X 187 6159896 Market value X Dept'l Supplies 19 17465 Market value X Special Events 164 118174 Market value X Audio Visual Equip 1 23874 Market value 21 false true true Schedule M, Part I, Line 1 The Institute does not capitalize its collection items nor report contributions of collection items as revenue as permitted under generally accepted accounting principles. Schedule M, Part I, Line 3 The Institute does not capitalize its collection items nor report contributions of collection items as revenue as permitted under generally accepted accounting principles. Schedule M, Part I, Line 32b Third parties used to solicit, process, or sell noncash contributions The Institute utilizes its investment custodian Northern Trust to receive and sell stock gifts made to the organization. Schedule M, Part I Explanations of reporting method for number of contributions Art - Works of art - Number of items contributed Art - Fractional interests - Number of items contributed Securities - Publicly traded - Number of contributions received Other - Dept'l Supplies Number of items contributed Other - Special Events Number of items contributed Other - Audio Visual Equip Number of items contributed Form 990, Part III, Line 1 Organization Mission The purposes for which The Art Institute of Chicago is formed are: To found, build, maintain and operate museums, schools, and libraries of art and theatres; to provide support facilities in connection therewith; to conduct appropriate activities conducive to the artistic development of the region; and to conduct and participate in activities of national and international significance; To form, conserve, research, publish, and exhibit a permanent collection of objects of art of all kinds, to present temporary exhibitions including loaned objects of art of all kinds, and to cultivate and extend the arts by appropriate means; To establish and conduct comprehensive programs of education, including preparation of visual artists, teachers of art, and designers; to provide education services in written, spoken and media formats; To provide lectures, instruction and entertainment, including dramatic, film and musical performances of all kinds, which complement and further the general purposes of the Institute; To receive in trust property of all kinds and to exercise all necessary powers as trustee for such trust estates whose objects are related to the furtherance of the general purposes of the Institute or for the establishment or maintenance of works of art. Form 990, Part V, Line 7g Intellectual Property The Art Institute of Chicago is not required to file Form 8899. The Institute receives contributions of intellectual property from time to time; however, the type of property contributed does not meet the definition of "qualified intellectual property" for Form 8899 filing purposes. Form 990, Part VI, Line 15b Compensation Review & Approval Process - Key Employees For key employees whose compensation is not reviewed and approved by the Compensation and Benefits Committee, their compensation is generally based on current independent salary surveys that are compiled by and maintained by the Institute's Human Resources Department and is decided by the employee's supervisor based on factors such as experience and performance. Form 990, Part VI, Line 2 Family/business relationships amongst interested persons Caryn Harris and Stephanie Field Harris - Family relationship, Walter Massey and Cary McMillan - Business relationship, Neil Bluhm, John Jordan II, and James Gordon - Business relationship, A. Steven Crown and Robert Levy - Business relationship, Sarah N. Garvey and Eric McKissack - Business relationship, Matthew R. Gibson and Thomas Pritzker - Business relationship, Kenneth Griffin and James Gordon - Business relationship, Adnaan Hamid and Prabhakant Sinha - Business relationship, Jay Frederick Krehbiel and David Vitale - Business relationship, Jay Frederick Krehbiel and Sam Mencoff - Business relationship, Jay Frederick Krehbiel and A. Steven Crown - Business relationship, Robert Levy and Neil Bluhm - Business relationship, Thomas Pritzker and Cary McMillan - Business relationship, Cary McMillan and Reeve Waud - Business relationship, Shirley Welsh Ryan and Reeve Waud - Business relationship, Sophia Shaw, Lawrence Levy, Scott Santi, and Rick Waddell - Business relationship Form 990, Part VI, Line 4 Significant changes to organizational documents The Institute's by laws were amended on September 13, 2016. The material changes resulting from those amendments are as follows. First, the number of elected trustees increased to a range of 69 to 74, from a previous range of 41 to 46. Second, the term of office of any elected trustee automatically expires at the Annual Meeting of the Board of Trustees following his or her 80th birthday (previously 70th birthday). Upon reaching this age limit, a Trustee will become eligible to become a Trustee Emeritus, as voted on by the Trustees. Third, any Trustee, Trustee Emeritus, Governor of the School, committee member, Chair of the Board of Governors or committee chair may be removed at any regular or special meeting of the Board by an affirmative vote by the majority of the Trustees present at a meeting at which there is a quorum. Fourth, the positions of President and Director of the Museum, the President of the School, the Executive Vice President, General Counsel, and Secretary, and the Executive Vice President and Chief Financial Officer shall be elected by the Board of Trustees when they enter in office and shall not require re-election thereafter. The Institute's by laws were amended again on April 20, 2017 to specify that the Treasurer of the Board of Trustees will be a voting member and the Chair of the Finance Committee, but cannot be a voting member of the Audit and Risk Committee. Form 990, Part VI, Line 11b Review of form 990 by governing body The 990 is prepared internally by the Institute's Accounting Office and reviewed in detail by the CFO and and independent professional accounting firm. The Institute's management confers with legal and bond counsel as needed to complete the tax filing. A full version of the Form 990 is presented to and reviewed by the Institute's Audit Committee for comment, with the single exception that the Schedule B, Schedule of Contributors, is redacted to omit the names and addresses of the individual contributors to preserve donor anonymity. An unmodified version of the complete 990 is reviewed by the Audit Committee Chair. Any questions or concerns identified by the Audit Committee are addressed and all appropriate changes are incorporated into the Form 990. After all input has been addressed, the final public disclosure version of the 990 is distributed to all voting members of the Institute's board of Trustees prior to filing with the IRS. After the final version of the from 990 has been distributed, management and staff file the final Form 990 as required. Form 990, Part VI, Line 12c Conflict of interest policy Under the Institute's Conflict of Interest Policy, all members of the Board of Trustees, Board of Governors, and Standing and Advisory Committees, and all officers and assistant officers of the Institute of the Institute (collectively known as "Related Parties") must act in the best interests of the Institute, without regard to their business, family, or personal activities and concerns. If a Related Party believes he or she has an actual or potential financial conflict of interest, the Related Party shall immediately disclose such conflict to the Chairman of the Board and to the Institute's General Counsel. The Related Party may not vote on, approve, or recommend any action or matter in which he or she has an actual or potential conflict of interest. When such matters are considered, the Related Party shall not be counted for purposes of determining whether there is a quorum. Financial interest or other activities that would constitute a conflict of interest if undertaken by a Related Party also constitute a conflict of interest if undertaken by an immediate family member of the Related Party and must be disclosed by the Related Party. The policy is distributed annually to all Related Parties. All voting Trustees, members of the Board of Governors, members of standing committees, Officers, and Vice Presidents are required to attest annually to their familiarity with the policy and to provide any information the Institute deems relevant concerning any possible conflicts of interest. The annual conflict of interest replies are logged and monitored by the Institute's General Counsel's office. Form 990, Part VI, Line 15a Process to establish compensation of top management official The Institute's Executive Committee, composed entirely of independent Trustees, approves compensation for the President and Director of the Museum, the President of the School, and for the Chancellor. The Institute's Compensation and Benefits Committee, also composed entirely of independent Trustees, approves compensation for other employed officers and for certain key employees. The two committees use the following process in considering compensation. The Institute's outside compensation expert prepares a written compensation analysis report for each person whose compensation is to be presented to either the Executive Committee or the Compensation and Benefits Committee. That report includes information such as a valuation of the proposed total remuneration, comparison data on total remuneration provided by similar institutions for similar services, an analysis of how the proposed remuneration compares to competitive practice, and conclusions on the competitive reasonableness of the proposed compensation. The report is provided to the relevant Committee in advance of the meeting. The Committee may also receive other written materials relevant to compensation, such as performance evaluations. At the meeting, the compensation expert and/or the Institute's Vice President for Human Resources reviews the compensation analysis report with the Committee. The Committee also receives input from officers and Trustees on the performance of the persons being reviewed. Committee deliberations and the decisions on compensation are documented in contemporaneous meeting minutes. In the case of the President and the Director of the Museum and the President of the School, the Provost, and the Dean of Faculty of the School, the decisions may be reflected in employment contracts as well. Form 990, Part VI, Line 19 Required documents available to the public The Institute's governing documents are available to the public via written request to the Institute and in addition, in part through applicable governmental agencies. The Institute's financial statements are available to the public via the Institute's own website, via the Illinois Attorney Genera'ls' website and upon written request. The conflict of interest policy is available to the public upon written request to the Institute. Form 990, Part VII, Section A, Line 1a, Column (B) Hours Per Week The amount of hours per week devoted to position has been noted as 1 hour for all Trustees. The amount of actual hours per week devoted by each Trustee varies depending on the position held and the committees the Trustee devotes time to. Form 990, Part VII, Section A Officers Compensation The negative amount shown in Column F represents a decrease in the actuarial valuation of defined benefit pension plan benefits. Previous period calculations were based on assumptions derived from actuarial estimates. Last year's calculation used known factors for retirement date, method of payment, and other elections. The current known factors resulted in a decrease in the previously calculated benefit. Form 990, Part VIII, Line 2f Other Program Service Revenue All other program service revenue - Total Revenue: 4857433, Related or Exempt Function Revenue: 4857433, 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 Pension Related Changes Other Than Net Periodic Pension Cost - 16186841; Schedule B, 501(c)(3) Special Rule Explanation Special Rules, Box 1 The Art Institute of Chicago is exempt under two categories listed in Schedule A Part I: box 2, which describes a school under Section 170 (b) (1) (A) (ii) and box 7, which describes an organization that normally receives a substantial part of its support from a governmental unit or from the general public under Section 170 (b) (1) (A) (vi). The Art Institute of Chicago has selected box 2, consistent with the instructions that only one applicable box should be checked. Since the Institute is also exempt under Schedule A, Part I box 7, Schedule B Parts I and II have been completed under the Special Rules Box 1 as the Institute has met the 33 1/3% support test of the regulations under sections 509 (a) (1) / 170 (b) (1) (A) (vi). 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