2017-04-11T13:46:01-05:00 2016-05-31 560574444 CHERRY BEKAERT LLP 1111 Metropolitan Ave Ste 1000 Charlotte NC 28204 990 2015-06-01 590637903 Ringling College of Art and Design inc RING 9413515100 2700 North Tamiami Trail Sarasota FL 34234 larry r thompson PRESIDENT 9413597514 2017-04-11 1 Janice A Ratica P00358837 7043771678 2015 2021-01-29 14:40:06Z LARRY R THOMPSON 2700 North Tamiami Trail Sarasota FL 34234 87150460 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. 34 33 964 418 14145 10930 16832493 11987621 57815665 62459800 2067139 881412 48397 -6894 76763694 75321939 9312892 11022205 0 0 26617478 27990965 0 18964 1766279 29791467 30020060 65721837 69052194 11041857 6269745 209467063 212702297 75462824 75119690 134004239 137582607 X Ringling College of Art and Design is a private, not-for-profit, fully accredited college offering the bachelor's degree in 11 disciplines: Advertising Design, Business of Art and Design, Computer Animation, Film, Fine Arts, Game Art, Graphic Design, Illustration, Interior Design, Motion Design, Photography and Imaging. The College is a member of the Association of Independent Colleges of Art and Design (AICAD) and is accredited by the National Association of Schools of Art and Design (NASAD), the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC) to award the Bachelor of Fine Arts Degree and Bachelor of Arts Degree, and by the first professional degree level by the Council for Interior Design Accreditation (CIDA). 0 0 51130077 10717770 51086382 TUITION AND FEES: RINGLING COLLEGE OF ART AND DESIGN PROVIDES INSTRUCTION IN VISUAL ARTS EDUCATION TO APPROXIMATELY 1,300 STUDENTS IN FULLY ACCREDITED FOUR-YEAR DEGREE PROGRAMS LEADING TO BFA AND BA DEGREES. 8154283 222255 10303604 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. 1873260 82179 1069814 CONTINUING EDUCATION: RINGLING COLLEGE OF ART AND DESIGN PROVIDES VISUAL ARTS INSTRUCTION FOR THE COMMUNITY THROUGH VARIOUS PROGRAMS ON A NON-CREDIT BASIS. 61157620 1 1 0 1 0 0 0 1 1 1 1 1 0 0 1 1 1 0 1 0 1 0 1 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 1634 0 1 964 1 1 1 0 0 0 0 1 1 0 0 0 0 X 34 33 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 VALLIERE AUZENNE 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 CAROL CAMIENER TRUSTEE 1.00 X 0 0 0 LINDA DICKINSON TRUSTEE 1.00 X 0 0 0 JAMES ERICSON 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 JACK HARRISON TRUSTEE 1.00 X 0 0 0 WILLIAM ISAAC TRUSTEE 1.00 X 0 0 0 EDWARD JENNINGS TRUSTEE 1.00 X 0 0 0 ELAINE KEATING TRUSTEE 1.00 X 0 0 0 MICHAEL KLEIN TRUSTEE 1.00 X 0 0 0 FLORA MAJOR TRUSTEE 1.00 X 0 0 0 GREGORY MATTHEWS TRUSTEE 1.00 X 0 0 0 MARY ANN MEYER TRUSTEE 1.00 X 0 0 0 Joel Morganroth 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 JANET SCHMIDT TRUSTEE 1.00 X 0 0 0 CHARLES SMITH TRUSTEE 1.00 X 0 0 0 STEVEN STEIN TRUSTEE 1.00 X 0 0 0 LOIS STULBERG TRUSTEE 1.00 X 0 0 0 WENDY SURKIS TRUSTEE 1.00 X 0 0 0 PETER WEILL TRUSTEE 1.00 X 54000 0 0 STANLEY WILLIAMS TRUSTEE 1.00 X 0 0 0 CHERYL LOEFFLER CHAIR 1.00 X X 0 0 0 DEAN EISNER VICE CHAIR 1.00 X X 0 0 0 GEORGE MILES SECRETARY 1.00 X X 0 0 0 JEAN MARTIN TREASURER 1.00 X X 0 0 0 ROBERT KIMBROUGH ASSISTANT SECRETARY 1.00 X X 0 0 0 DR LARRY R THOMPSON PRESIDENT 40.00 X 567379 0 43150 TRACY WAGNER VP FOR FINANCE & ADMINISTRATION 40.00 X 192920 0 21741 CHRISTINE DEGEORGE VP FOR HUMAN & ORGANIZATIONAL DEVELOPMENT 40.00 X 216884 0 23250 Jeffrey bellantoni VP for Academic Affairs 40.00 X 193993 0 20888 Kris Pegah Director of Administrative Computing 40.00 X 143140 0 14528 James Dean Dean of Admissions 40.00 X 149349 0 14776 MAHMOUD PEGAH DIRECTOR OF INSTITUTIONAL TECHNOLOGY 40.00 X 199130 0 19246 TAMMY WALSH VP FOR STUDENT LIFE/DEAN OF STUDENTS 40.00 X 160561 0 8981 DAVID JACKSON ASSOCIATE VP FOR ACADEMIC AFFAIRS 40.00 X 143252 0 18328 2020608 0 184888 27 0 1 0 Willis A Smith Construction 5001 Lakewood Ranch Blvd N Sarasota FL 34240 Construction Services 5867052 CHARTWELLS DINING SERVICES 2400 YORKMONT ROAD CHARLOTTE NC 28217 DINING SERVICES 2180766 Custodial Maintenance Inc 6222 Tower Lane Ste A-7 Sarasota FL 34240 Custodial Services 936576 Sarasota Memorial Hospital 1700 S Tamiami Trail Sarasota FL 34239 Student Health Services 469348 Sweet Sparkmen Architects Inc 2168 Main Street Sarasota FL 34237 ARCHITECT SERVICES 396347 15 296843 274038 11416740 787601 11987621 tuition & fees 900099 51086382 51086382 auxiliary services 900099 10303604 10303604 continuing education 900099 1069814 1069814 62459800 1572923 1572923 58158 6168 51990 51990 51990 10620042 74595 11386148 0 -766106 74595 -691511 -1854 -689657 287265 296843 381744 -94479 15999 -110478 6111 6372 -261 -261 83945 48089 35856 35856 75321939 62459800 14145 860373 95155 95155 10874518 10874518 52532 52532 1257720 1257720 20568733 18030020 1625043 913670 649769 560575 58090 31104 3946477 3098834 721088 126555 1568266 1329060 172477 66729 125783 125783 101890 101890 48340 48340 18964 18964 151714 60089 91470 155 3227200 3009819 155317 62064 909591 737358 117243 54990 2052238 1526612 457944 67682 1583829 1583204 414 211 3092499 2959312 122511 10676 815837 739993 37350 38494 446213 381618 36921 27674 1967747 1732228 235519 9941517 9467976 446641 26900 515633 506300 6188 3145 contracted food service 2668961 2407516 10100 251345 other contracted servic 1431628 1286949 80541 64138 IMPAIRMENT LOSSES 414895 255392 159503 Student Related Expense 357822 357822 166723 104738 60202 1783 69052194 61157620 6128295 1766279 22260470 17475986 11823336 12324184 234753 504407 1677227 1840855 206083250 83827127 108738089 122256123 59190328 52096676 5542860 6204066 209467063 212702297 7108551 9398937 980769 979869 62715000 61015000 470071 310231 4188433 3415653 75462824 75119690 X 57973616 59081937 55599448 57522901 20431175 20977769 134004239 137582607 209467063 212702297 X 6269745 -2555063 -136314 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 48340 48340 0 Part II-B, Line 1: The College is a member of an association of independent colleges whose lobbying activities related to the continuation of the Florida Resident Access Grant 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. 68700 4671428 X X 1 0 1 X 45846003 553041 -2707933 1380175 219798 42091138 43107326 2785934 1305293 1136125 216425 45846003 36106488 4343619 3735492 870225 86200 121848 43107326 26641817 5604557 4844679 758000 88950 137615 36106488 27393977 1382348 -1228567 318425 530850 56666 26641817 0.44000 0.50000 0.06000 1 0 29044997 29044997 96076282 51134124 44942158 91380 48635 42745 58308649 31033275 27275374 22561942 1611093 20950849 122256123 Common Stock 85500 F corporate bonds 7210457 F debt related securities 10024229 F mutual funds 30129166 F Long-Biased II, LP 944510 F investment in property 2465000 F Absolute Return 1184295 F Distressed op. fund, lp 35238 F Life Insurance CSV 18281 F 52096676 interest rate swap liability 1460465 annuity payable 1409225 student deposits 545963 3415653 X 62332900 -2555063 88140 -10812775 -13279698 75612598 151714 -442373 -290659 75321939 58754530 88140 442373 530513 58224017 151714 10676463 10828177 69052194 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 and cared for, and activities verifying their existence and assessing their condition are performed periodically. The College's policy is to capitalize donated works of art at fair value and purchased works of art at cost if not preserved and held for public exhibition or if intended to be sold without proceeds used for purchases of works of art. Of the $6,067,409 and $5,425,652 presented in Other non-current assets on the statements of financial position, $4,671,428 and $4,532,085 as of May 31, 2016 and 2015, respectively, are donated works of art which are being held with the intent of resale and do not meet the definition of a collection. Part III, Line 4: Our 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 as well as fiscal agency for C4 Consortium. Part V, Line 4: endowment funds are used to support student scholarships, academic 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, 2016 and May 31, 2015 and, accordingly, no liability has been accrued. Part XI, Line 2d - Other Adjustments: scholarship allowance shown net of revenue on financials -10,372,529. AUXILIARY ALLOWANCE (SCHOLARSHIPS) -222,255. CSSP & ART CENTER (SCHOLARSHIPS) -81,679. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -136,312. Part XI, Line 4b - Other Adjustments: Rental expenses -6,168. fundraising event expenses -381,744. Gaming activities expenses -6,372. cost of goods sold -48,089. Part XII, Line 2d - Other Adjustments: COST OF GOODS SOLD 48,089. RENTAL EXPENSES 6,168. FUNDRAISING EVENT EXPENSES 381,744. GAMING ACTIVITIES EXPENSES 6,372. Part XII, Line 4b - Other Adjustments: scholarship allowance shown net of revenue on financials 10,372,529. AUXILIARY ALLOWANCE (SCHOLARSHIPS) 222,255. CSSP & ART CENTER (SCHOLARSHIPS) 81,679. 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. 1 Central America and the Caribbean 0 0 Program Services Recruiting 2657 East Asia and the Pacific 0 0 Program Services Recruiting 42030 Europe (Including Iceland & Greenland) 0 0 Program Services Festival 1584 Europe (Including Iceland & Greenland) 0 0 Program Services Recruiting 11437 Europe (Including Iceland & Greenland) 0 0 Program Services Research 5006 Europe (Including Iceland & Greenland) 0 0 Program Services Seminars & Conferences 12227 Europe (Including Iceland & Greenland) 0 0 Program Services Study Abroad 62334 Middle East and North Africa 0 0 Program Services Recruiting 4688 North America 0 0 Program Services Research 2400 North America 0 0 Program Services Seminars & Conferences 4728 South Asia 0 0 Program Services Recruiting 10464 Sub-Saharan Africa 0 0 Program Services Research 3100 0 0 0 0 0 0 141963 20692 162655 Study Abroad tuition Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgiu 4 52532 CHECK 0 0 0 0 0 1 Part I, Line 2: The organization facilitates funding of student projects related to the institutional mission, which may occur in a foreign country. All expenses are substantiated under an accountable plan to ensure appropriate use of funds. Part I, line 3: Expenditures are recorded on an accrual basis. X X X X X X X 1 MARIANNE B TUCKER 1188 N TAMIAMI TRAIL UNIT 304 SARASOTA FL 34236 GRANT WRITER 0 35000 16689 18311 35000 16689 18311 FL AVANT GARDE 213716 150268 63448 12563 54479 1558 55851 Art Tour 136125 136125 26468 8155 85503 2 234267 146575 87692 15598 55316 1000 65253 584108 296843 287265 28161 136263 10713 206607 381744 -94479 1 AMERICAN JEWISH COMMITTEE 1605 MAIN STREET STE 612 SARASOTA FL 34234 135563393 501(c)(3) 9100 FURTHERING THE ORGANIZATION'S TAX EXEMPT MISSION MANATEE EDUCATION FOUNDATION INC 1023 MANATEE AVE W STE 215 BRADENTON FL 34205 650037457 501(c)(3) 1750 5500 FMV auctioneer services and scholarships FURTHERING THE ORGANIZATION'S TAX EXEMPT MISSION SCOPE 1226 N TAMIAMI TRAIL SUITE 202 SARASOTA FL 34236 650459837 501(c)(3) 5000 FURTHERING THE ORGANIZATION'S TAX EXEMPT MISSION ARTS & CULTURAL ALLIANCE OF SARASOTA COUNTY INC 1226 N TAMIAMI TRIAL SUITE 300 SARASOTA FL 34234 592710755 501(c)(3) 5000 FURTHERING THE ORGANIZATION'S TAX EXEMPT MISSION PINC CONFERENCES LLC 238 LINKS AVE SARASOTA FL 34236 465617978 47250 FURTHERING THE ORGANIZATION'S TAX EXEMPT MISSION 4 1 scholarships & grants 1040 10784059 CSSP & ART CENTER SCHOLARSHIPS 82 81679 STUDENT AWARDS 5 500 8280 FMV TABLETS 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. X X X X 0 1 X X X X 0 1 0 0 0 0 0 0 0 DR LARRY R THOMPSON PRESIDENT 283290 0 0 0 284089 0 13250 0 62261 0 642890 0 180336 0 TRACY WAGNER VP FOR FINANCE & ADMINISTRATION 178735 0 0 0 14185 0 9857 0 12726 0 215503 0 0 0 CHRISTINE DEGEORGE VP FOR HUMAN & ORGANIZATIONAL DEVELO 204781 0 0 0 12103 0 11008 0 13075 0 240967 0 0 0 Jeffrey bellantoni VP for Academic Affairs 183903 0 0 0 10090 0 9847 0 11524 0 215364 0 0 0 Kris Pegah Director of Administrative Computing 127502 0 0 0 15638 0 7149 0 8071 0 158360 0 0 0 James Dean Dean of Admissions 139077 0 0 0 10272 0 7398 0 8083 0 164830 0 0 0 MAHMOUD PEGAH DIRECTOR OF INSTITUTIONAL TECHNOLOGY 177541 0 0 0 21589 0 9912 0 10183 0 219225 0 0 0 TAMMY WALSH VP FOR STUDENT LIFE/DEAN OF STUDENTS 158671 0 0 0 1890 0 1603 0 8139 0 170303 0 0 0 DAVID JACKSON ASSOCIATE VP FOR ACADEMIC AFFAIRS 135251 0 0 0 8001 0 7286 0 11746 0 162284 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 portion of the payment for Country Club and Social Club dues that is deemed to be for personal use 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 College 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. Part I, Line 1b The Board of Trustees determined that the College would provide the housing allowance, gross-up payment, and Social Club dues for the President (described above) and those benefits are included in the President's appointment letter from the Board of Trustees. Part I, Line 4b Dr. Larry R. Thompson, President participated in a supplemental nonqualified retirement plan described in section 457(f) of the IRS Code which vested on May 31, 2011. All contributions to that plan were frozen for periods after May 31, 2012. The Board of Trustees established a supplemental nonqualified retirement plan described in section 457(f) of the IRS Code for Dr. Larry R. Thompson, President effective June 1, 2012 with an initial vesting date of May 31, 2015. The Plan balance as of May 31, 2015 was $180,335.81 which consisted of contributions earned over three years of service (June 1, 2012 through May 31, 2015) already reported as deferred compensation in prior Forms 990 and credited to Dr. Thompson on May 31, 2015. This amount was 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) and Column F. A higher educational facilities financing authority 900058227 noneavail 2010-12-01 30000000 currently refund part of the series 2008 issue 0 0 0 B higher educational facilities financing authority 900058227 noneavail 2009-12-01 19400000 currently refund series 2004 issue 0 0 0 C higher educationAL facilities financing authority 900058227 noneavail 2014-06-04 17730000 currently refund part of the series 2008 issue 0 0 0 A 30000000 30000000 2009 1 0 1 1 B 4005000 19400000 19400000 2006 1 0 1 1 C 2110000 17730000 17730000 2009 1 0 1 1 A 0 0 1 1 0 0.03560 0.03560 0 0 1 B 0 0 1 1 0 0.01900 0.01900 0 0 1 C 0 0 1 1 0 0.02970 0.02970 0 0 1 A 0 0 0 1 1 1 PNC BANK 10.000000000000 0 0 0 0 1 B 0 0 1 0 1 1 suntrust bank 10.000000000000 1 0 0 0 1 C 0 1 0 0 1 1 suntrust bank 10.000000000000 0 0 0 0 1 A 1 B 1 C 1 Date Rebate Computation Performed Issuer Name: higher educational facilities financing authority Date the Rebate Computation was Performed: 04/29/2015 NA N/A 32040 TUITION REMISSION TUITION REMISSION X 4 68700 FMV/APPRAISAL X 6 232338 FMV X computer EQUIPMENT 2 396020 FMV X GIFTS 20 2900 FMV 3 0 0 0 Form 990, Part VI, Section B, line 11 The public disclosure copy is provided to the Board of Trustees so that the donors' requests to remain anonymous are granted. Form 990, Part VI, Section B, line 12c the college annually provides a conflict of interest policy and form to disclose all conflicts of interest to all trustees and key employees. these responses are reviewed to determine if there are any potential issues or items for disclosure. in the event of a potential conflict, the trustee in question will recuse themselves from any discussion or vote. 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, 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 process requires the President to complete a Self-Assessment and the Board of Trustees members to complete performance Assessment Forms. The Compensation Committee reviews the assessment and prepares a recommendation for the Executive Committee. The Executive Committee reviews the deliberations with the Board of Trustees. The President evaluates and determines the compensation of each Senior Officer using AICAD data and the results of the performance review. 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. It is the policy of the College to evaluate the effectiveness of all staff through the performance evaluation process. Each Senior Officer completes an annual report for the President's review. The President reviews the comparative data for each of the Senior Officers with the Compensation Committee. Documentation includes notes taken at the Compensation Committee of data review and deliberations. Annual assessment documents for the President are also maintained. 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 -125,314. CHANGE IN VALUE OF GIFTED ARTWORK -11,000.