2026-03-11T22:21:11-05:00 2025-06-30 390859910 BAKER TILLY ADVISORY GROUP LP 3121 W MARCH LN STE 200 STOCKTON CA 952192367 990 2024-07-01 951921340 ART CENTER COLLEGE OF DESIGN ARTC 6263962200 1700 LIDA STREET PASADENA CA 91103 ELSA LUNA SVP, CFAO 6263962200 2026-03-11 1 0 LAUREN A HAVERLOCK P00545829 2099556100 2026-03-11 2024 2025-03-06 01:10:19Z KAREN HOFMANN 1700 LIDA STREET PASADENA CA 91103 235553380 0 X WWW.ARTCENTER.EDU X 1930 CA ART CENTER COLLEGE OF DESIGN OPERATES AN INDEPENDENT, FOUR-YEAR CURRICULUM TO EDUCATE ARTISTS AND DESIGNERS IN COMMUNICATION ARTS AND INDUSTRIAL DESIGN THAT EXTENDS ITS LEGACY OF PROFESSIONAL ART AND DESIGN PRACTICE AND ENABLES ITS GRADUATES TO REALIZE SUCCESS, FULFILLMENT, AND RECOGNITION IN THEIR CHOSEN FIELDS. 27 26 2134 115 6021 0 3823826 26036663 141144980 141324251 3530672 8444131 1638915 1458365 150138393 177263410 29139773 29343983 0 0 78716065 76531651 11588 0 2377965 49489341 49482233 157356767 155357867 -7218374 21905543 404453575 427748901 168326350 157259831 236127225 270489070 X OUR MISSION IS TO EDUCATE, INSPIRE, AND EMPOWER CREATIVE AND DESIGN LEADERS. 0 0 145441528 29343983 141324251 THE COLLEGE OPERATES AN INDEPENDENT, FOUR-YEAR CURRICULUM TO EDUCATE ARTISTS AND DESIGNERS IN COMMUNICATION ARTS AND INDUSTRIAL DESIGN. THE COLLEGE OFFERS A BACHELOR OF FINE ARTS DEGREE IN SIX MAJORS (CREATIVE DIRECTION; FILM; FINE ART; GRAPHIC DESIGN; ILLUSTRATION; AND PHOTOGRAPHY AND IMAGING) AND A BACHELOR OF SCIENCE DEGREE IN FIVE MAJORS (ENTERTAINMENT DESIGN; INTERACTION DESIGN; PRODUCT DESIGN; SPATIAL EXPERIENCE DESIGN; AND TRANSPORTATION DESIGN). GRADUATE PROGRAMS LEAD TO THE MASTER OF FINE ARTS DEGREE IN: FILM; ART; MEDIA DESIGN PRACTICES; AND GRAPHIC DESIGN. THE GRADUATE PROGRAMS THAT OFFER THE MASTER OF SCIENCE DEGREE ARE: FURNITURE, LIGHTING & FIXTURES; SPATIAL EXPERIENCE DESIGN; INDUSTRIAL DESIGN; AND TRANSPORTATION SYSTEMS AND DESIGN. TWO GRADUATE PROGRAMS AWARD AN ONLINE MASTER OF DESIGN (MDES) DEGREE IN BRAND DESIGN AND STRATEGY AND INTERACTION DESIGN. ALL EXPENDITURES RELATE TO ACADEMIC INSTRUCTION, PROGRAM SUPPORT AND OPERATION OF THE COLLEGE. THE FTE ENROLLMENT FOR JULY 2024 TO JUNE 2025 WAS APPROXIMATELY 2,188 (FALL 2024), 2,068 (SPRING 2025) AND 768 (SUMMER 2025) STUDENTS. 145441528 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 1 2579 0 1 2134 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 27 26 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X LINA DEASE 6263962328 1700 LIDA STREET PASADENA CA 91103 JEFFREY C BARBAKOW TRUSTEE 1.00 X 0 0 0 RONALD BENSION TRUSTEE 1.00 X 0 0 0 KEVIN G BETHUNE TRUSTEE 1.00 X 0 0 0 CHRISTOPHER J BIRCHBY TRUSTEE 1.00 X 0 0 0 CLARENCE A DANIELS JR TRUSTEE 1.00 X 0 0 0 DANTLEY DAVIS TRUSTEE (THRU 1/2025) 1.00 X 0 0 0 JANICE FELDMAN TRUSTEE 1.00 X 0 0 0 SARAH E GAVLAK TRUSTEE 1.00 X 0 0 0 TOM GILMORE TRUSTEE/TREASURER (THRU 2/2025) 1.00 X X 0 0 0 WILLIAM T GROSS TRUSTEE 1.00 X 0 0 0 BRUCE HEAVIN TRUSTEE 1.00 X 0 0 0 LINDA A HILL TRUSTEE/FIRST VICE CHAIR 1.00 X X 0 0 0 STEVEN M HITTER TRUSTEE/SECRETARY 1.00 X X 0 0 0 TIMOTHY M KOBE TRUSTEE 1.00 X 0 0 0 MELISSA LORA TRUSTEE 1.00 X 0 0 0 DAVID C MARTIN TRUSTEE 1.00 X 0 0 0 MERLE MULLIN TRUSTEE 1.00 X 0 0 0 PRAJNA MURDAYA TRUSTEE 1.00 X 0 0 0 CHARLES E NEARBURG TRUSTEE 1.00 X 0 0 0 MARIANA PRIETO TRUSTEE (START 6/2025) 1.00 X 0 0 0 PAUL RAINEY TRUSTEE 1.00 X 0 0 0 IVY ROSS TRUSTEE 1.00 X 0 0 0 MICHELE RUIZ TRUSTEE 1.00 X 0 0 0 PHILLIP SAROFIM TRUSTEE 1.00 X 0 0 0 ZACHARY E SNYDER TRUSTEE 1.00 X 0 0 0 JOE TSENG TRUSTEE (START 6/2025) 1.00 X 0 0 0 FRANZ VON HOLZHAUSEN TRUSTEE 1.00 X 0 0 0 MICHAEL M WARSAW TRUSTEE/CHAIR 1.00 X X 0 0 0 KAREN HOFMANN PRESIDENT/CEO 40.00 X X 550902 0 76823 ELSA LUNA SVP, CHIEF FIN & ADMIN OFFICER 40.00 X 160490 0 5009 ANNE BURDICK PROVOST 40.00 X 270540 0 43783 MELANIE BURZYNSKI SVP, ADVANCEMENT 40.00 X 301610 0 6764 JIM POORE SVP, MARKETING & COMMUNICATIONS 40.00 X 197177 0 8642 TOM STERN SVP, ENROLLMENT MGMT/STUDENT AFFAIRS 40.00 X 286500 0 39512 AARON BRUCE VP, CHIEF DIV OFFICER (THRU 12/2024) 40.00 X 227044 0 21662 KRISTINE BOWNE VP, PROF DEV & INDUSTRY ENGAGEMENT 40.00 X 282414 0 21246 LISA SANCHEZ VP, EMPLOYEE EXPERIENCE & ENGAGEMENT 40.00 X 233385 0 24560 THERESA ZIX VP, INFORMATION TECHNOLOGY 40.00 X 233074 0 27979 ROSS LAMANNA DEPARTMENT CHAIR 40.00 X 228951 0 23553 MAGGIE HENDRIE DEPARTMENT CHAIR 40.00 X 228075 0 39469 RICHARD HALUSCHAK FORMER SVP, CF&AO (THRU 1/2024) 40.00 X 132358 0 40749 3332520 0 379751 273 1 1 0 DEL AMO CONSTRUCTION LLC 19191 S VERMONT AVE 950 TORRANCE CA 90502 CONSTRUCTION SERVICES 11662190 SECURITAS SECURITY SERVICES USA 4330 PARK TERRACE DR WESTLAKE VILLAGE CA 91361 SECURITY SERVICES 3837976 SODEXO INC AND AFFILIATES 400 AIRBORNE PARKWAY CHEEKTOWAGA NY 14225 FOOD AND CATERING SERVICES 1655105 PBM FACILITY SERVICES PO BOX 6534 PASADENA CA 91109 JANITORIAL SERVICES 1612600 LAND OFFICE BUSINESS CORPORATION 453 S SPRING STREET 508 LOS ANGELES CA 90013 ENGINEERING DESIGN SERVICES 1177474 47 5990 26030673 352935 26036663 TUITION AND FEES 611600 139541494 139541494 OTHER REVENUE 611600 1089879 1089879 AUXILIARY SERVICES 611600 692878 692878 141324251 2899396 2899396 287268 287268 642785 205437 437348 437348 437348 63342000 58084533 5257467 5257467 5257467 INSURANCE CLAIMS 900099 1014996 1014996 UBI FROM PASSTHROUGHS 523000 6021 6021 1021017 177263410 141324251 6021 9896475 29343983 29343983 2392577 664563 1415061 312953 59037321 55772557 2267033 997731 2840952 2683847 109093 48012 7706573 7280400 295932 130241 4554228 4302380 174882 76966 659982 659982 181570 181570 366683 366683 11020075 10410665 423171 186239 271710 256684 10434 4592 5362865 5066299 205934 90632 8604444 8128618 330411 145415 6514636 5995667 411711 107258 987582 932969 37923 16690 82008 77473 3149 1386 5312794 5018997 204011 89786 7407958 6998298 284466 125194 2546160 2405357 97773 43030 LICENSES, PERMITS, DUES 385225 363922 14793 6510 STUDENT MATERIALS COSTS 303861 287058 11668 5135 FEES ON BOND DEBT 15179 14337 583 259 UNCOLLECTIBLE ACCOUNTS -595476 -562546 -22866 -10064 54977 54977 155357867 145441528 7538374 2377965 8033730 23041260 10522182 2383257 1231844 98424 5261082 6493799 230000 230000 154622 199039 2082233 1964711 237626799 49333078 188953826 188293721 60059392 72085756 125969594 131250859 30431 22679 1924639 1685396 404453575 427748901 15020857 9119452 12470878 10752888 140723353 137282048 111262 105443 168326350 157259831 X 127771559 139169820 108355666 131319250 236127225 270489070 404453575 427748901 X 21905543 12716321 -216000 20002 -64021 X 0 1 X 1 1 1 X 12305994 10734860 4107717 3823826 26036663 57009060 12305994 10734860 4107717 3823826 26036663 57009060 19592084 37416976 1613474 1499751 2877818 3501121 3829449 13321613 1194377 1014996 2209373 72540046 678191593 0.51580 0.70220 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: INSURANCE CLAIMS - 2023 AMOUNT: $ 1,194,377. 2024 AMOUNT: $ 1,014,996. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 152688000 22223000 18120000 4848000 5570000 299000 182314000 137353000 736000 19332000 3922000 567000 244000 152688000 127039000 2213000 14249000 4383000 1522000 243000 137353000 133281000 19722000 -19440000 4289000 1981000 254000 127039000 98145000 16221000 33233000 11566000 2527000 225000 133281000 0.29188 0.42807 0.28005 1 0 9979957 9979957 215016839 40909797 174107042 9278296 7816761 1461535 3351707 606520 2745187 188293721 DOMESTIC EQUITY FUNDS 90623444 F MULTI-SECTOR BOND FUNDS 11350347 F MULTI-STRATEGY HEDGE FUND OF FUNDS 2906648 F PRIVATE MARKETS FUND OF FUNDS 26370420 F 131250859 ANNUITY OBLIGATIONS 105443 105443 X 161069096 12716321 -29110051 -16393730 177462826 -199416 -199416 177263410 126727253 216000 263437 479437 126247816 29110051 29110051 155357867 PART V, LINE 4: THE ENDOWMENTS ARE RESTRICTED BY THE DONORS FOR SCHOLARSHIPS AND SUPPORT FOR EDUCATIONAL PROGRAMS AND INITIATIVES. THE BOARD-DESIGNATED QUASI-ENDOWMENT IS RESTRICTED FOR SCHOLARSHIPS. PART X, LINE 2: THE COLLEGE HAD NO UNCERTAIN TAX POSITIONS FOR THE YEARS ENDED JUNE 30, 2025 AND 2024. PART XI, LINE 2D - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID -29,110,051. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -205,437. UBI FROM PASSTHROUGHS 6,021. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 205,437. NET CHANGE IN ACTUARIAL OBLIGATIONS 58,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 29,110,051. 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 COLLEGE PUBLICIZES ITS RACIALLY NONDISCRIMINATORY POLICY THROUGH BROCHURES, PRINT MEDIA, REGISTRATION MATERIALS, AND ITS WEBSITE. SCHEDULE E, PART I, LINE 6 THE COLLEGE ADMINISTERS VARIOUS SCHOLARSHIP PROGRAMS AND LOANS PROVIDED BY GOVERNMENTAL AGENCIES INCLUDING: DIRECT LOANS (SUBSIDIZED AND UNSUBSIDIZED), PELL GRANTS, SEOG, AND FEDERAL WORK STUDY PROGRAMS. AWARDS ARE MADE BASED UPON THE CRITERIA ESTABLISHED BY THE GOVERNMENTAL AGENCY. EAST ASIA AND THE PACIFIC 0 2 PROGRAM SERVICES TOKYO, JAPAN, TAMA UNIVERSITY STUDY AWAY PROGRAMMING; KYOTO AND OSAKA, JAPAN STUDY AWAY PROGRAMMING; THAILAND STUDY AWAY PROGRAMMING 159000 EUROPE (INCLUDING ICELAND & GREENLAND) 1 4 PROGRAM SERVICES BERLIN, GERMANY STUDY AWAY PROGRAMMING; LONDON ANCIENT MODERN STUDY AWAY PROGRAMMING 797000 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 2906648 1 6 0 0 1 6 3862648 0 3862648 1 0 1 1 1 0 PART I, LINE 3: ACCRUAL METHOD 1 UNDERGRADUATE SCHOLARSHIPS 1893 25327358 GRADUATE SCHOLARSHIPS 173 2420352 PELL GRANTS, SEOG, FEDERAL WORK STUDY, DIRECT LOANS, HEERF I, II & III STUDENT AID 1898 50972 STUDENT SPECIAL CIRCUMSTANCE TUITION WAIVERS - MEDICAL 3 24990 EDUCATION PROGRAM TUITION DISCOUNTS 35 920761 HOUSING GRANTS 153 599550 PART I, LINE 2: GRANT FUNDS ARE RECORDED IN A PROJECT ACCOUNT SO THAT ALL ASSOCIATED REVENUES AND EXPENSES ARE ACCOUNTED FOR RELATED TO A SPECIFIC GRANT. X X X X 1 0 0 0 0 0 0 0 0 KAREN HOFMANN PRESIDENT/CEO 550087 0 0 0 815 0 65679 0 11144 0 627725 0 0 0 TOM STERN SVP, ENROLLMENT MGMT/STUDENT AFFAIRS 286381 0 0 0 119 0 28247 0 11265 0 326012 0 0 0 ANNE BURDICK PROVOST 270540 0 0 0 0 0 24913 0 18870 0 314323 0 0 0 MELANIE BURZYNSKI SVP, ADVANCEMENT 300920 0 0 0 690 0 0 0 6764 0 308374 0 0 0 KRISTINE BOWNE VP, PROF DEV & INDUSTRY ENGAGEMENT 151184 0 9373 0 121857 0 12147 0 9099 0 303660 0 0 0 MAGGIE HENDRIE DEPARTMENT CHAIR 227260 0 0 0 815 0 24999 0 14470 0 267544 0 0 0 THERESA ZIX VP, INFORMATION TECHNOLOGY 232816 0 0 0 258 0 25975 0 2004 0 261053 0 0 0 LISA SANCHEZ VP, EMPLOYEE EXPERIENCE & ENGAGEMENT 231761 0 0 0 1624 0 24555 0 5 0 257945 0 0 0 ROSS LAMANNA DEPARTMENT CHAIR 109597 0 0 0 119354 0 23550 0 3 0 252504 0 0 0 AARON BRUCE VP, CHIEF DIV OFFICER (THRU 12/2024) 193411 0 0 0 33633 0 21657 0 5 0 248706 0 0 0 JIM POORE SVP, MARKETING & COMMUNICATIONS 196646 0 0 0 531 0 0 0 8642 0 205819 0 0 0 RICHARD HALUSCHAK FORMER SVP, CF&AO (THRU 1/2024) 38631 0 0 0 93727 0 39351 0 1398 0 173107 0 0 0 ELSA LUNA SVP, CHIEF FIN & ADMIN OFFICER 160198 0 0 0 292 0 0 0 5009 0 165499 0 0 0 PART I, LINE 4A TWO INDIVIDUALS LISTED ON FORM 990, PART VII AND SCHEDULE J, PART II RECEIVED PAYMENTS FROM THE ORGANIZATION RESULTING FROM SIGNED SEPARATION AGREEMENTS. DUE TO CONFIDENTIALITY CLAUSES WITHIN THOSE SEPARATION AGREEMENTS, THE INDIVIDUALS ARE NOT BEING NAMED AND THE AMOUNTS ARE NOT BEING DISCLOSED; ADDITIONAL INFORMATION IS MADE AVAILABLE TO THE INTERNAL REVENUE SERVICE UPON REQUEST. A CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY 521705592 130179PL2 2018-08-30 114304457 REFUND BOND DATED 7/16/2014 AND CONSTRUCT, EQUIP, AND IMPROVE FACILITIES 0 0 0 B CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY 521705592 130179UN2 2022-02-10 40098184 CONSTRUCT, EQUIP, AND IMPROVE FACILITIES 0 0 0 A 9630000 115703926 954606 53444320 61305000 2023 1 0 1 1 B 1720000 41957060 417901 39378052 2161107 0 0 1 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 08/30/2024 ISSUER NAME: CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 02/10/2025 SCHEDULE K, PART I, COLUMN (E) AND SCHEDULE K, PART II, LINE 3 THE DIFFERENCE BETWEEN THE TOTAL ISSUE PRICE REPORTED ON SCHEDULE K, PART I, COLUMN (E) AND THE TOTAL PROCEEDS OF ISSUE REPORTED ON SCHEDULE K, PART II, LINE 3 PERTAINS TO INVESTMENT INCOME EARNED ON UNSPENT BOND PROCEEDS. X 7 352935 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS (DEFINED AS EACH SEPARATE GIFT) IN SCHEDULE M, PART I, COLUMN (B). PART I, LINE 33: THE COLLEGE RECEIVED DONATED GIFTS, INCLUDING FURNITURE AND ACCESSORIES. IT IS THE POLICY OF THE COLLEGE TO RECORD DONATED GIFTS WITH A FAIR MARKET VALUE OF $1.00 OFFSET BY A $1.00 EXPENSE. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED FIRST BY THE CONTROLLER AND THE CHIEF FINANCIAL AND ADMINISTRATIVE OFFICER. IT IS THEN REVIEWED BY THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES AND AN ELECTRONIC COPY IS MADE AVAILABLE TO THE FULL BOARD OF TRUSTEES PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE COLLEGE HAS CONFLICT OF INTEREST POLICIES THAT COVER ALL TRUSTEES, OFFICERS, AND KEY EMPLOYEES. ALL TRUSTEES MUST ATTEST ANNUALLY THAT THEY ARE IN COMPLIANCE WITH THE APPLICABLE POLICY. THE STATEMENTS ARE REVIEWED EACH YEAR BY THE AUDIT COMMITTEE WHICH DETERMINES WHETHER OR NOT AN ACTUAL, APPARENT OR POTENTIAL CONFLICT EXISTS. THE AUDIT COMMITTEE THEN REFERS ALL ACTUAL, APPARENT, OR POTENTIAL CONFLICTS TO THE FULL BOARD OF TRUSTEES WHO WILL DETERMINE BY A TWO-THIRDS MAJORITY VOTE WHETHER OR NOT ACCEPTANCE OF THE CONFLICT IS IN THE COLLEGE'S BEST INTEREST. OFFICERS AND KEY EMPLOYEES ARE BOUND BY A SIMILAR BUT SEPARATE CONFLICT OF INTEREST POLICY AND ACKNOWLEDGE AND AGREE TO ADHERE TO IT ANNUALLY IN WRITING. FORM 990, PART VI, SECTION B, LINE 15 A) PRESIDENT/CEO AND SENIOR VICE PRESIDENT, CHIEF FINANCIAL AND ADMINISTRATIVE OFFICER - THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS COMPARABLE DATA FROM A VARIETY OF SOURCES AND INCLUDES RESEARCH AND ADVICE FROM ONE OR MORE EXTERNAL COMPENSATION CONSULTANTS AND ATTORNEYS. THE COMPENSATION COMMITTEE THEN MAKES A RECOMMENDATION TO THE FULL BOARD OF TRUSTEES FOR APPROVAL. COMPENSATION IS REVIEWED ON AN ANNUAL BASIS. B) OTHER OFFICERS AND KEY EMPLOYEES - THE PRESIDENT/CEO SETS THE SALARIES FOR THESE POSITIONS USING COMPARABLE DATA FROM EXTERNAL SOURCES INCLUDING AT LEAST ONE PROFESSIONAL COMPENSATION CONSULTANT. COMPENSATION IS REVIEWED ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION C, LINE 19 THE ARTICLES OF INCORPORATION, BYLAWS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: NET CHANGE IN ACTUARIAL OBLIGATIONS -58,000. UNRELATED BUSINESS INCOME NOT RECORDED ON BOOKS -6,021. ARTCENTER GLOBAL LLC 1700 LIDA STREET PASADENA CA 91103 HOLDING COMPANY CA 0 0 ART CENTER COLLEGE OF DESIGN ART CENTER COLLEGE OF DESIGN CONSULTING (BEIJING) CO LTD ZHONGGUANCUM ZHIZAO ST 45 CHENGFU BEIJING CH SOCIO-ECONOMIC, EDUCATIONAL, AND ENTERPRISE MANAGEMENT CONSULTING CH ARTCENTER GLOBAL LLC C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0