2013-05-07T13:27:32-07:00 2012-06-30 DELOITTE TAX LLP 111 SOUTH WACKER DRIVE CHICAGO IL 606064301 990 2011-07-01 362167725 The Art Institute of Chicago ARTI 3124433600 111 South Michigan Avenue Chicago IL 60603 Patricia Rowlands Lawson 2013-05-07 true DELOITTE TAX LLP 3124861000 2011 2016-02-25 16:41:14Z Eric Anyah 111 South Michigan Avenue Chicago IL 60603 566433822 false 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. 45 42 3237 819 826334 -1059661 79911597 62275319 214444567 154790347 94124670 11886523 8604127 13403566 397084961 242355755 30538203 31571808 0 94840270 97805784 252414 152059 6192438 187280546 113608822 312911433 243138473 84173528 -782718 1414483069 1351684071 408370577 395654569 1006112492 956029502 The Art Institute of Chicago's primary exempt purpose is 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. false false 127056708 31509350 132357999 The School of the Art Institute is an accredited post-secondary institution of higher learning which provides both graduate and undergraduate study. This curriculum provides for the preparation of visual artists, teachers of art, designers and others in areas that include written, spoken, and media formats. Overall full-time-equivalent enrollment of degree-seeking students was 2,858. The curriculum has attracted students from over 50 countries. 88009044 62458 31109384 The Museum provides a variety of educational programs focusing on the collection, conservation, research, publication, exhibition, and interpretation of the museum's internationally significant permanent collection of art. The Museum also presents temporary exhibitions of international importance, which include loaned objects from other collections. Included in the exhibition programming for fiscal year 2012 were several non-ticketed temporary exhibitions, including Roy Lichtenstein: A Retrospective; Rethinking Typologies: Architecture and Design; Bertrand Goldberg: Architecture of Invention; Avant-Garde Art in Everyday Life; and Windows on the War: Soviet TASS Posters and Home and Abroad. During fiscal year 2012, the Museum served 1.4 million visitors. 215065752 true true false true false false false true false true true true false false true true false true true true true false false true true true false true true true true true true false false false false false true true true true true false false true true true true false false true 857 1 true 3237 true true true false false false false false false true true false 0 false false false false false false false false false false false X 45 42 true false false false true true false true true false false false false true true true true true true true true true WI WA VA UT SC OR OK OH NY NJ NH ND MS MO MI MD MA KY KS IL DC CO CA AZ AL AK X X X Patricia Rowlands Lawson 3124994050 111 South Michigan Avenue Chicago IL 60603 Todd Warnock 1.00 X 0 0 0 Frederick H Waddell 1.00 X 0 0 0 David J Vitale 1.00 X 0 0 0 Byron D Trott 1.00 X 0 0 0 Marilynn Thoma 1.00 X 0 0 0 Melinda Martin Sullivan 1.00 X 0 0 0 Edward Byron Smith Jr 1.00 X 0 0 0 Prabhakant Sinha 1.00 X 0 0 0 Stephanie Sick 1.00 X 0 0 0 Michael Sacks 1.00 X 0 0 0 John W Rowe 1.00 X 0 0 0 Andrew M Rosenfield 1.00 X 0 0 0 Linda Johnson Rice 1.00 X 0 0 0 Dana D Rice 1.00 X 0 0 0 J Christopher Reyes 1.00 X 0 0 0 Mark Pu 1.00 X 0 0 0 Thomas J Pritzker 1.00 X 0 0 0 Anne Pramaggiore 1.00 X 0 0 0 Paulita Pike 1.00 X 0 0 0 Cynthia Perucca 1.00 X 0 0 0 Alexandra C Nichols 1.00 X 0 0 0 Samuel M Mencoff 1.00 X 0 0 0 Cary D McMillan 1.00 X 0 0 0 Eric T McKissack 1.00 X 0 0 0 Nancy Lauter McDougal 1.00 X 0 0 0 John Manley 1.00 X 0 0 0 Robert M Levy 1.00 X 0 0 0 Lawrence F Levy 1.00 X 0 0 0 Eric P Lefkofsky 1.00 X 0 0 0 Rita Knox 1.00 X 0 0 0 John W Jordan II 1.00 X 0 0 0 Caryn Harris 1.00 X 0 0 0 Ann Grube 1.00 X 0 0 0 Joseph P Gromacki 1.00 X 0 0 0 Kenneth C Griffin 1.00 X 0 0 0 James A Gordon 1.00 X 0 0 0 Sarah Nava Garvey 1.00 X 0 0 0 Denise B Gardner 1.00 X 0 0 0 Karen Frank 1.00 X 0 0 0 Marshall Field 1.00 X 0 0 0 John A Edwardson 1.00 X 0 0 0 Janet Duchossois 1.00 X 0 0 0 William M Daley 1.00 X 0 0 0 A Steven Crown 1.00 X 0 0 0 Lester N Coney 1.00 X 0 0 0 Francie Comer 1.00 X 0 0 0 Linda Buonanno 1.00 X 0 0 0 Robert H Bergman 1.00 X 0 0 0 Anne Searle Bent 1.00 X 0 0 0 Eric Anyah 40.00 X 260399 0 42235 Julia E Getzels 40.00 X 313817 0 63324 Douglas Druick 40.00 X 325212 0 85785 Walter E Massey 40.00 X 505625 0 0 Rose Milkowski 40.00 X 170327 0 17480 Lisa Wainwright 40.00 X 196998 0 32717 Elizabeth Grainer 40.00 X 180336 0 60667 Elizabeth Hurley 40.00 X 239901 0 27768 Elissa Tenny 40.00 X 306217 0 22050 Edward McNulty 40.00 X 280647 0 48603 David Thurm 40.00 X 400276 0 41538 Andrea Reynders 40.00 X 243034 0 9557 Eugene Adams 40.00 X 192504 0 53106 Brian Esker 40.00 X 184822 0 32814 Samuel Quigley 40.00 X 179137 0 27440 Carrie Heinonen 40.00 X 181557 0 9997 Wellington Reiter 40.00 X 140125 0 0 Anthony Jones 40.00 X 151548 0 17000 James Cuno 40.00 X 607873 0 29260 5060355 621341 79 true true false US Equities Asset Mgmt LLC 20 N Michigan Ave 400 Chicago IL 60602 Bldg Maint Services 1649571 Lakeshore Waste Services LLC 6132 Oakton St Morton Grove IL 60053 Recycle Waste Srvcs 205010 Hirtle Callaghan LLC 300 Barr Harbor Dr West Conshohocken PA 19428 Investmnt Advsr/Mgmt 274509 Harris Winick LLP 333 W Wacker Dr2060 Chicago IL 60606 Attorney Services 823775 Deloitte & Touche LLP 111 S Wacker Dr Chicago IL 60606 Audit Services 288618 7 11081458 2681328 11285046 37227487 6295536 62275319 Tuition and Fees 611600 128598123 128598123 Proceeds from Sale of Art 900099 9701901 9701901 Other Restricted Prog Rev 900099 1661963 1661963 Museum Admissions 900099 9568375 9568375 Member Program Revenues 900099 1104446 1104446 4155539 3298280 857259 154790347 7981987 7981987 0 206719 206719 2653588 1051464 1602124 1602124 184130 1417994 317485316 313580780 3904536 3904536 3904536 801132 2681328 1664779 -863647 -863647 19260 25973 -6713 -6713 15261431 7755071 7506360 6177036 1329324 Other Invest. Inc (Loss) 900099 2458723 -687120 3145843 Other 900099 2500000 2500000 4958723 242355755 162610124 826334 16643978 62458 62458 31509350 31509350 0 0 3634198 1909888 1456243 268067 0 71480950 60825027 7815914 2840009 5390954 4213742 830159 347053 12113313 10123806 1553847 435660 5186369 4385920 598240 202209 0 1011759 1011759 369068 369068 15375 15375 152059 152059 2651750 2651750 15601791 14267725 578809 755257 1942305 1942305 10136842 9053211 355794 727837 1519052 705353 772306 41393 154564 154564 18105217 17288686 683747 132784 2966396 2776825 50409 139162 0 269082 215173 38173 15736 12099822 10624779 1475043 10748 10748 25985819 25090939 894880 989692 989692 Exhibition Related Expenses 853733 853733 Other Expenses 3340677 2869036 407487 64154 Furniture, Fixtures, Equipment 4302074 3894361 336655 71058 Accessions/Books/Other Art 11283056 11283056 0 243138473 215065752 21880283 6192438 0 2036795 1076571 57582006 48350135 5677235 5494197 0 0 3731782 3824138 7112547 5564485 5967587 5588113 638058618 165345677 476579918 472712941 492489913 431959462 345307019 371306876 0 0 17998267 5807153 1414483069 1351684071 41768632 37827004 20300620 19408216 301536693 269374229 700000 1100000 44064632 67945120 408370577 395654569 X 114183756 75797147 579645269 560060837 312283467 320171518 1006112492 956029502 1414483069 1351684071 X -782718 -49300272 X false true true X true true X Part I, Line 2 - The Art Institute of Chicago is exempt under two categories listed in Part I, box 2 which describes a school, 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, Section 170(b)(1)(A)(vi). The Art Institute of Chicago has selected box 2, because per instructions only one applicable box should be checked. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false true false false false false true 15375 15375 false false Part II-B, Line 1i Part II-B, Line 1i - Other Activities Description The amount represents the Art Institute of Chicago's portion of funds utilized by Museums in the Park for lobbying activities. X X X X false 842590142 13042836 -7062856 2977788 38205259 2651750 804735325 663913585 67894964 151400848 3082178 35698555 1838522 842590142 616716313 25467861 64519514 3199183 37713043 1877877 663913585 0.37000 0.40000 0.23000 true false false 11324688 11324688 58517837 21679098 36838739 548978897 130110908 418867989 18009072 12380849 5628223 1228124 1174822 53302 472712941 371306876 Refundable Advances 3400550 Pension Liability 64544570 67945120 Part X Part X : FIN48 Footnote From Page 9 of the Institute's Consolidated 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.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 $6.5 million for tax periods through June 30, 2011. The Institute does not have the ability to estimate the NOL through June 30, 2012, 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 2025 and 2031. The Institute has not recorded a tax benefit for these NOLs for the years ended June 30, 2012 and 2011, respectively; because it is not more likely than not that the Institute will be able to realize the benefit." The financial statements did not report uncertain tax positions. Part XI, Line 8 Part XI, Line 8: Other Changes in Net Assets or Fund Balances Pension Related Changes other than Net Periodic Pension Cost $ -27194985 Endowment transfer to third party not-for-profit entity $ -655577 Unrealized Depreciation on Funds Held in Trust $ -2823731 Part V, Line 4 Part V, Line 4: Intended uses of the endowment fund. The Institute establishes endowment funds for the purpose of investing assets in a manner that preserves the real value of the endowment principal and, in addition, provides spendable funds that can be used to fulfill the purposes for which the endowments were established. The Institute's Investment and Executive Committees determine the method to be used to appropriate endowment funds for expenditure. The appropriation amounts are determined as of the end of the year, prior to when it becomes available for expenditure, and is equal to the spendable amount or additional amounts as approved by the Executive Committee during the year. 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 Committees. Part III, Line 4 Part III, Line 4: Description of organization's collections and how it furthers its purpose. 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. Part III, Line 1a Part III, Line 1a: If organization elected under SFAS 116 to not report are, historical treasures, o From Page 7 of the Institute's Consolidated Audited Financial Statements: "Art Objects and Library Collections - The value of the art objects in the permanent collection, as well as the holdings of the libraries, is excluded from the consolidated statements of financial position. Additions to the permanent collection are made either by gifts, bequests, or through purchases using Institute acquisition funds. Institute 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 adopted in 1975. The objects are generally offered for sale at a public auction, and the proceeds from such sales 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; 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." true true true true true true true false false false false false false false false true false true Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized The nondiscriminatory policy is publicized in a variety of materials, including the student bulletin, the course schedule issued each semester, initial marketing material, and the student handbook. Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental Agency Part I, Line 6a - The Institute receives federal financial aid funding from the Department of Education under the following programs:Federal Pell Grant ProgramFederal Supplemental Educational Opportunity Grants ProgramFederal Work Study Program NORTH AMERICA 0 0 PASSIVE INVESTMENTS N/A 25037822 EUROPE 0 0 PASSIVE INVESTMENTS N/A 1148974 CENTRAL AMER & CARIBBEAN 0 0 PASSIVE INVESTMENTS N/A 204867724 NORTH AMERICA 0 0 PROGRAM SERVICES TRAVEL/RESEARCH 2720 EUROPE 0 0 PROGRAM SERVICES TRAVEL/RESEARCH 26177 SOUTH ASIA 0 0 PROGRAM SERVICES TRAVEL/RECRUITING 1542 NORTH AMERICA 0 0 PROGRAM SERVICES TRAVEL/RECRUITING 6605 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES TRAVEL/RECRUITING 58288 CENTRAL AMER & CARIBBEAN 0 0 PROGRAM SERVICES TRAVEL/RECRUITING 229 SOUTH ASIA 0 0 PROGRAM SERVICES TRAVEL/EXHIBITIONS 169946 NORTH AMERICA 0 0 PROGRAM SERVICES TRAVEL/EXHIBITIONS 6051 MIDDLE EAST & N AFRICA 0 0 PROGRAM SERVICES TRAVEL/EXHIBITIONS 2115 EUROPE 0 0 PROGRAM SERVICES TRAVEL/EXHIBITIONS 91911 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES TRAVEL/EXHIBITIONS 3783 SOUTH ASIA 0 0 PROGRAM SERVICES TRAVEL/EDUCATIONAL 2429 RUSSIA 0 0 PROGRAM SERVICES TRAVEL/EDUCATIONAL 1898 NORTH AMERICA 0 0 PROGRAM SERVICES TRAVEL/EDUCATIONAL 15376 EUROPE 0 0 PROGRAM SERVICES TRAVEL/EDUCATIONAL 50041 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES TRAVEL/EDUCATIONAL 4450 SOUTH ASIA 0 0 PROGRAM SERVICES STUDY TOURS 34690 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY TOURS 53042 RUSSIA 0 0 PROGRAM SERVICES STUDY TOURS 3359 NORTH AMERICA 0 0 PROGRAM SERVICES STUDY TOURS 1004 EUROPE 0 1 PROGRAM SERVICES STUDY TOURS 351313 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDY TOURS 4621 SOUTH ASIA 0 0 PROGRAM SERVICES SCHOLARLY PUBL 5000 NORTH AMERICA 0 0 PROGRAM SERVICES SCHOLARLY PUBL 5475 EUROPE 0 0 PROGRAM SERVICES SCHOLARLY PUBL 123144 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES SCHOLARLY PUBL 66927 SOUTH ASIA 0 0 PROGRAM SERVICES RESEARCH 8977 EUROPE 0 0 PROGRAM SERVICES RESEARCH 1556 EUROPE 0 0 PROGRAM SERVICES RECRUITING 1170 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES RECRUITING 5416 EUROPE 0 0 PROGRAM SERVICES OTHER 54432 EAST AISA AND THE PACIFIC 0 0 PROGRAM SERVICES OTHER 1836 SOUTH ASIA 0 0 PROGRAM SERVICES MEMBER TRAVEL 787 NORTH AMERICA 0 0 PROGRAM SERVICES MEMBER TRAVEL 427 EUROPE 0 0 PROGRAM SERVICES MEMBER TRAVEL 5201 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES MEMBER TRAVEL 260 CENTRAL AMER & CARIBBEAN 0 0 PROGRAM SERVICES MEMBER TRAVEL 1014 NORTH AMERICA 0 0 PROGRAM SERVICES EXHIBITIONS 2941 EUROPE 0 0 PROGRAM SERVICES EXHIBITIONS 441301 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES EXHIBITIONS 2400 SOUTH ASIA 0 0 PROGRAM SERVICES EDUCATIONAL 4000 EUROPE 0 0 MARKETING N/A 34811 EAST ASIA AND THE PACIFIC 0 0 MARKETING N/A 26415 NORTH AMERICA 0 0 MARKETING N/A 200 1 1 584167 232155633 232739800 X true false true true true false X X X X X X X true SD&A Teleservc Telemarketing false 305785 152059 153726 305785 152059 153726 WI WA VA UT SC OR OK OH ND NY NJ NH MO MS MI MA MD KY KS FL DC CO CA AZ AK AL IL Lichtenstein 1456644 1296364 160280 411773 SNAP Gala 498900 352930 145970 247739 10 1526916 1032034 494882 1005267 3482460 2681328 801132 1664779 1664779 -863647 false false 19260 25973 true 1.00000 19260 25973 25973 -6713 IL true false true false 0.33000 0.67000 Patricia C Rowlands 111 South Michigan Avenue Chicago IL 60603 false false true Northwestern University 633 Clark Street Evanston IL 60208 362167817 501 (c)(3) 62458 0 N/A N/A Conservation Research 1 0 Student Scholarships and Stipends 3083 31429033 N/A N/A Faculty Enrichment Grants 53 80317 N/A N/A Grantmaker's Description of How Grants are Used 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. Payments are monitored by the Dean's office and all payments are approved by the Vice Provost and School Finance department before payment is made. Additional Supplemental Information For organizational payments for research grants, a departmental program representative for the grant reviews and approves all payment requests before payment is issued. X X X X X true true X X X X X X true true false false false false false false true true Wellington Reiter 140125 140125 Walter E Massey 487670 17955 505625 Samuel Quigley 178452 685 16410 11030 206577 Rose Milkowski 170109 218 15475 2005 187807 Lisa Wainwright 196583 415 18150 14567 229715 Julia E Getzels 300694 13123 41000 22324 377141 12413 James Cuno 311252 296621 23000 6260 637133 231501 Eugene Adams 175044 17460 33000 20106 245610 Eric Anyah 243656 16743 25000 17235 302634 Elizabeth Hurley 239594 307 15606 12162 267669 Elizabeth Grainer 179651 685 53000 7667 241003 Elissa Tenny 265729 40488 22050 328267 Edward McNulty 269607 11040 35000 13603 329250 8919 Douglas Druick 302660 22552 78000 7785 410997 David Thurm 377389 22887 22050 19488 441814 2482 Carrie Heinonen 80086 101471 3000 6997 191554 Brian Esker 168075 16747 24000 8814 217636 Anthony Jones 112373 39175 17000 168548 39175 Andrea Reynders 57385 185649 5247 4310 252591 Sch J, Part I, Line 8 Part I, Line 8: Amounts reported on 990 VII pursuant to initial contract exemption described in Regs The payments reported in Form 990, Part VII for the Former President of the School of the Art Institute, were paid pursuant to a contract that was subject to the initial contract exception described in Regs. Section 53.4958-4(a)(3). The initial contract exception applies because the payments were made pursuant to a written contract and, as a new hire with no previous connection to the organization, Mr. Reiter was not a disqualified person immediately prior to entering the contract. The payments were fixed payments as defined under Regs. Section 53.4958-4(a)(3)(ii). Although the initial contract exception applies to these payments, the Executive Committee of the Board of Trustees reviewed compensation survey data prepared by the Institute's outside compensation expert and considered other relevant factors to determine the appropriate initial offer. One member of the Executive Committee, an independent Trustee, then oversaw the ensuing contract negotiations. The Institute's outside compensation expert was consulted during the course of the negotiations to assure that the compensation under discussion was competitively reasonable. The final terms were reviewed by the compensation expert, who determined that the total remuneration was competitively reasonable, and then approved by the independent Trustee in consultation with the Chairman of the Board of Trustees. The total remuneration contained in the final compensation package was consistent with the package approved by the Executive Committee. The Board of Trustees received a description of the terms of the compensation package before voting to hire Mr. Reiter. Sch J, Part I, Line 1a Part I, Line 1a: Relevant information in regards to selections on 1a. First class travel is allowed under limited circumstances as set forth in the travel policy. The Presidents of the Museum and the School are allowed to have their partners accompany them on business trips if their presence is necessary for a specific purpose of the Institute. The Provost/Senior Vice President for Academic Affairs received a housing stipend. The housing stipend was grossed-up for applicable taxes. The stipend and gross-up were both addressed in the individual employment contract.The President of the School's employment contract allows 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. IL Finance Authority 861091967 45200F3B3 2010-05-20 55941880 Refund 3/26/2009 2009B Bonds false false IL Finance Authority 861091967 45200F3N7 2010-06-09 113537854 See Part VI false false IL Finance Authority 861091967 45200FVM8 2009-03-26 139158000 Constr./Renov. Museum Facil. false false IL Educ Facil Authority 521297563 4520015W6 2003-07-09 18737797 Refund 6/16/1993 Bonds true false 26580000 55941880 4308451 1880 55940000 2002 true false true true 2405000 113537854 10018475 5986 103850250 2002 true true true true 80000000 139158000 139158000 2009 false false true true 6260000 145000 18737996 152633 219546 30148 18488302 1988 true false true true false false false false 0.00000 0.00000 0.00000 true false false false false 0.00000 0.00000 0.00000 true false false false NA false NA true true false false false NA false NA false false false true false NA false NA false true false false false NA false NA false true X A Pramaggiore ComEd CEO Trustee 1022474 ComEd Electrical Serv. false F Waddell Nthrn Trst CEO Trustee 322345 Inv.Custody/Perf Serv. false J Rowe Nthrn Trst Brd Memb Trustee 322345 Inv.Custody/Perf Serv. false J Rowe Exelon CEODir Trustee 1022474 ComEd Electrical Serv. false A Jones Spouse P Carroll Former Officer 14612 Employee Compensation false X 1185 1 See Part II X 26 See Part II X 27385 FMV X 134 5625152 FMV X Special Events 303 380891 FMV X Dept'l Supplies 13 17884 FMV X Couture Fashion 16 102995 FMV X Airfare 125 141229 FMV 27 false true true Part I, Line 33, Revenues Not Reported The Institute does not capitalize its collection items nor report contributions of collection items as revenue as permitted under generally accepted accounting principles. Part I, Line 32, Hire and Use of Third Parties The Institute utilizes its investment custodian Northern Trust to receive and sell stock gifts made to the organization. Schedule B, 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, 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, Section 170(b)(1)(A)(vi).The Art Institute of Chicago has selected box 2, because per instructions only one applicable box should be checked. Because 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). Form 990, Part VII, Line 1a, Column B The amount of hours per week devoted to position has been noted as 1 hour for all Trustees. The amount of hours per week devoted by Trustees varies depending on the position held and the committees the Trustee devotes time to. Form 990, Part V, Line 7h Form 1098-C is not applicable to the Institute. Form 990, Part V, Line 7g The Institute 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 19 Form 990, Part VI, Line 19: Other Organization Documents Publicly Available 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 General's website and upon written request. The conflict of interest policy is available to the public upon written request to the Institute. Form 990, Part VI, Line 15b Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees The Institute's Executive Committee, composed entirely of independent Trustees, approves compensation for the President and Director of the Museum and for the President of the School. The Institute's Compensation Committee, composed entirely of independent Trustees and Life 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 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 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 decisions on compensation are documented in contemporaneous meeting minutes. In the case of the President and Director of the Museum, the President, Provost, and Dean of Faculty of the School, the decisions may be reflected in employment contracts as well.For key employees' whose compensation is not reviewed and approved by the Compensation Committee, their compensation is generally based on independent salary surveys typically conducted at the time of hire 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 12c Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts All voting Trustees, Life Trustees, members of the Board of Governors, members of Standing and Advisory Committees, Officers, and Vice Presidents 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 Institutes 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. The Related Party shall not be counted for purposes of determining whether there is a quorum. Financial interests 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, Life Trustees, members of the Board of Governors, members of Standing and Advisory Committees, Officers, and Vice Presidents are required to attest annually to their familiarity with this 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 Institutes General Counsel's office. Form 990, Part VI, Line 11 Form 990, Part VI, Line 11: Form 990 Review Process A full version of the Form 990 is reviewed in detail by the Institute's Audit Committee before filing with the Internal Revenue Service, including Schedule B-Schedule of Contributors. The Board of Trustees are provided a copy of the public disclosure version of the Form 990 before it is filed with the Internal Revenue Service. Schedule B is made available to the Board of Trustees upon request, however, a copy is not widely distributed. Form 990, Part VI, Line 6 Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder Members of the Institute consist of 5 classes: Governing, Honorary Governing, Life, Honorary Life and Annual. All Governing, Honorary Governing and Honorary Life Members shall be elected by the Board of Trustees from among those persons who meet the qualifications as set forth below, except that all persons who are elected Benefactors shall become Honorary Governing Members and shall have the privileges of Governing Members. Governing Members, not to exceed 1,500, are elected from Members that have demonstrated a significant interest in the programs of the Institute and made a contribution to the unrestricted endowment fund in such sum as determined from time to time by the Board of Trustees. Not more than 50 Governing Member may be elected by the Trustees from among individual Members who actively participate in the Institute, without the requirement of a contribution to the unrestricted endowment fund. A donor at the Sustaining Fellow level automatically becomes a Governing Member after a third consecutive annual Fellows gift and serves as long as Fellow status is retained. Any Governing Member who discontinues as a Fellow will be reinstated as a Governing Member upon qualifying as a Sustaining Fellow. A business participating in the Sustaining Fellows shall not be a Governing Member.Honorary Governing Members shall include Benefactors and other persons elected by the Trustees from among Governing Members who have rendered eminent services to the Institute of a period of years and shall be exempt from the payment of dues. Honorary Life Members shall be chosen from among persons who have rendered continuing financial support or performed continuing voluntary services for the Institute or have attained distinction as artists, patrons of art, or educators.Any person at least 18 years of age may become a Life Member upon the payment of such sum as may be fixed from time to time by the Board of Trustees, which sum shall be credited to an unrestricted endowment fund. Each Life Member shall be entitled to all the rights and privileges of Annual Members without payment of dues.Any person may become an Annual Member upon such terms as may be fixed from time to time by the Board of Trustees. All Members shall be entitled to free admission to all public exhibitions of the Institute, except as otherwise provided by the Board of Trustees. The sole right of Governing Members and Honorary Governing Members is to elect Trustees at the annual Governing Members meeting. Form 990, Part VI, Line 2 Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et A family relationship exists between Trustees Robert H. Bergman and Andrew M. Rosenfield. A businees relationship exists between Officer Walter E. Massey and Trustee Cary D. McMillan. Business relationships exist between the following Trustees: Thomas J. Pritzker and Byron Trott; Thomas J. Pritzker and Samuel M. Mencoff; Kenneth C. Griffin and James A. Gordon; John W. Rowe and Frederick H. Waddell; John W. Rowe and Anne Pramaggiore; John W. Rowe and A. Steven Crown; A. Steven Crown and Anne Pramaggiore; Sarah Nava Garvey and Eric T. McKissack; Dana D. Rice and Michael Sacks. 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