2026-05-07T13:56:48-05:00 2025-06-30 390859910 BAKER TILLY ADVISORY GROUP LP 6320 CANOGA AVENUE 17TH FLOOR WOODLAND HILLS CA 91367 990 2024-07-01 956102146 CALIFORNIA INSTITUTE OF THE ARTS CALI 6612551050 24700 MCBEAN PARKWAY VALENCIA CA 91355 LORI HUSEIN SVP/CFO/TREASURER 6612551050 2026-05-06 1 1 LAUREN A HAVERLOCK P00545829 8185771900 2024 2025-03-06 01:10:19Z RAVI RAJAN 24700 MCBEAN PARKWAY VALENCIA CA 91355 211430486 0 X WWW.CALARTS.EDU X 1961 CA CALARTS OFFERS VARIOUS DEGREES IN ART, CRITICAL STUDIES, DANCE, FILM/VIDEO, MUSIC AND THEATER. SEE PART III LINE 1 FOR FURTHER DETAIL. 29 28 1850 50 -31071 0 12084336 10472635 94987173 82980132 26408313 28223913 3423593 339123 136903415 122015803 26703072 28766132 0 0 62992131 66624368 0 0 2080792 29173730 26942059 118868933 122332559 18034482 -316756 388517359 388266960 67111404 71490580 321405955 316776380 CALARTS IS A MULTIDISCIPLINARY COMMUNITY OF ARTISTS. OUR ONGOING EDUCATIONAL ENDEAVOR IS GROUNDED IN OPENNESS, EXPERIMENTATION, CRITICAL ENGAGEMENT, AND CREATIVE FREEDOM. THROUGH ARTISTIC PRACTICE, WE TRANSFORM OURSELVES, EACH OTHER, AND THE WORLD. 0 0 76044238 28766132 79201812 INSTRUCTION: INSTITUTE OFFERS BFAS, MFAS, MA AND DMAS IN BOTH THE VISUAL AND PERFORMING ARTS AND IS DEDICATED TO TRAINING AND NURTURING THE NEXT GENERATION OF ARTISTS. EMPHASIS IS PLACED ON NEW AND EXPERIMENTAL WORK AND STUDENTS ARE ADMITTED SOLELY ON THE BASIS OF ARTISTIC ABILITY. TO ENCOURAGE INNOVATION AND MULTI-DISCIPLINARY COLLABORATION, CALARTS SIX SCHOOLS - ART, CRITICAL STUDIES, DANCE, FILM/VIDEO, MUSIC AND THEATER - ARE ALL HOUSED UNDER ONE ROOF. DURING THE 2024/25 ACADEMIC YEAR, THERE WERE 1,323 FTE STUDENTS 15530340 0 733458 ACADEMIC SUPPORT: EXPENDITURES PRIMARILY INCLUDE THOSE TO PROVIDE SUPPORT FOR INSTRUCTION - PROVOST OFFICE, LIBRARY, REDCAT ETC. 7373615 STUDENT SERVICES: PRIMARY PURPOSE OF EXPENDITURE IS TO CONTRIBUTE TO THE STUDENTS' EMOTIONAL AND PHYSICAL WELLBEING AND TO THEIR SOCIAL DEVELOPMENT OUTSIDE OF THE FORMAL INSTRUCTIONAL PROGRAM, INCLUDES ADMISSIONS, REGISTRAR AND FINANCIAL AID. 5265442 3044862 5265442 3044862 104213635 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 0 1 1 0 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 0 1 0 0 0 1 1868 0 1 1850 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 29 28 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 0 1 0 1 1 CA X XIAOMEI HE 6615542548 24700 MCBEAN PARKWAY VALENCIA CA 91355 RAVI RAJAN PRESIDENT 50.00 1.00 X X 527441 0 49291 KATIE NICELY SVP ADVANCEMENT 50.00 X 361904 0 24528 LORI HUSEIN SVP/CFO/TREASURER 50.00 10.00 X 346945 0 35817 TRACIE COSTANTINO SVP, PROVOST 50.00 X 289975 0 39811 TRAVIS PRESTON DEAN SCHOOL OF THEATER (THRU 6/30/24) 50.00 X 258306 0 13548 IRENE SCHOLL-TATEVOSYAN GENERAL COUNSEL 50.00 X 222764 0 33195 MICHAEL ELGARICO CHIEF ENROLLMENT OFFICER 50.00 X 235470 0 15335 ANN WIENS CHIEF MARKETING AND COMMUNICATIONS OFFICER 50.00 X 215026 0 32343 ALLAN CHEN VP AND CHIEF TECHNOLOGY OFFICER 50.00 X 209435 0 33223 ANTHONY GARRISON-ENGBRECHT VP, STUDENT AFFAIRS 50.00 X 219680 0 14385 TAMU YIN ASSISTANT TREASURER 50.00 X 179531 0 18796 KIARA BROWN CHIEF OF STAFF / SECRETARY 50.00 X 180697 0 16016 EDWARD ANDREAS NASSER ASSISTANT SECRETARY 50.00 7.50 X 129741 0 11321 CHARMAINE JEFFERSON CHAIRMAN OF THE BOARD 1.00 X X 0 0 0 JAMES B LOVELACE VICE-CHAIR 1.00 X X 0 0 0 CLARISSA CRAWFORD ALUMNI TRUSTEE 1.00 X 0 0 0 MAIJA BURNETT FACULTY TRUSTEE 1.00 X 0 0 0 CHRISTINA DAILEY STAFF TRUSTEE 1.00 X 0 0 0 ASHLEY HUNT FACULTY TRUSTEE 1.00 X 0 0 0 AMARIS JORDAN STUDENT TRUSTEE 1.00 X 0 0 0 ANUSHKA SHAH STUDENT TRUSTEE 1.00 X 0 0 0 JOAN ABRAHAMSON TRUSTEE 1.00 X 0 0 0 LYNDON BARROIS TRUSTEE 1.00 X 0 0 0 DAVID A BOSSERT TRUSTEE 1.00 X 0 0 0 DON CHEADLE TRUSTEE 1.00 X 0 0 0 MELISSA COBB TRUSTEE 1.00 1.00 X 0 0 0 CAROLINE CRONSON TRUSTEE 1.00 X 0 0 0 RODRIGO GARCIA TRUSTEE 1.00 X 0 0 0 RICK HASKINS TRUSTEE 1.00 X 0 0 0 DAVID G JOHNSON TRUSTEE 1.00 X 0 0 0 THOMAS LLOYD TRUSTEE 1.00 X 0 0 0 RAMSEY NAITO TRUSTEE 1.00 X 0 0 0 TINA PERRY TRUSTEE 1.00 1.00 X 0 0 0 KEITH RIVERS TRUSTEE 1.00 X 0 0 0 THOMAS ROTHMAN TRUSTEE 1.00 X 0 0 0 DAVID L SCHIFF TRUSTEE 1.00 X 0 0 0 MICHAEL SKLOFF TRUSTEE 1.00 X 0 0 0 CLARK SPENCER TRUSTEE 1.00 X 0 0 0 SUSAN STEINHAUSER TRUSTEE 1.00 X 0 0 0 THERESA STREMPEK TRUSTEE 1.00 X 0 0 0 RIC WHITNEY TRUSTEE 1.00 X 0 0 0 3376915 0 337609 147 0 1 0 GILBANE BUILDING COMPANY 7 JACKSON WALKWAY PROVIDENCE RI 02903 WATER INTRUSION RESTORATION 2732473 SIRECON LLC 303 GLENOAKS BLVD SUITE 200 BURBANK CA 91502 CAMPUS CONSTRUCTION 2228185 CARRIER CORPORATION PO BOX 93844 CHICAGO IL 60673 CAMPUS CONSTRUCTION 2067641 NOBLE CONSTRUCTION CO 300 SYCAMORE GLEN PASADENA CA 91105 CAMPUS CONSTRUCTION 1239115 STAPLES CONSTRUCTION CO INC 1501 EASTMAN AVENUE VENTURA CA 93003 CAMPUS CONSTRUCTION 929008 80 617528 9855107 1168389 10472635 TUITION AND FEES 611600 74199798 74199798 OTHER MISCELLANEOUS 611600 4871850 4871850 AUXILIARY ENTERPRISES 611600 3908484 3908484 82980132 7081470 -31071 7112541 652785 652785 339123 0 339123 339123 339123 109853196 51145 89398228 16455 20454968 34690 20489658 20489658 122015803 82980132 -31071 28594107 28766132 28766132 2508138 596288 1510237 401613 52990586 44846565 7046063 1097958 2213459 1873276 294320 45863 5048066 3904965 884487 258614 3864119 2737507 1126612 688118 333843 353532 743 236218 236218 487840 487840 3868281 2321121 1508165 38995 184964 181430 3534 220856 195682 19555 5619 1802629 1483761 210044 108824 8597 8222 375 2361123 2361123 744597 550381 177207 17009 219716 201769 17600 347 1930969 1926218 4751 4467885 4078906 388979 1665445 1469809 195636 RENTALS 2467415 2111524 272801 83090 REPAIRS AND MAINTENANCE 1189516 1120376 68024 1116 PERKINS LOAN SERVICE EX 184216 184216 4213674 2960521 1232152 21001 122332559 104213635 16038132 2080792 11780329 3682236 9300010 6299882 16379676 15968051 399100 366701 1714594 2115631 164379327 52890328 107001545 111488999 146798780 155438041 95143325 92872055 0 35364 388517359 388266960 7197002 10254381 1011507 745050 38674678 38444285 8398568 8134068 7000000 10000000 4829649 3912796 67111404 71490580 X 80845326 72548307 240560629 244228073 321405955 316776380 388517359 388266960 X -316756 -4409966 66076 31071 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 51145 297045 X FUNDRAISING PURPOSES 1 249311896 1565494 23193864 3532767 15528633 255009854 221602626 6895815 30584655 -3176748 -6594452 249311896 215891775 119905 16016646 3770195 6655505 221602626 238769884 655710 -13195819 3842332 6495668 215891775 186711498 350491 62160895 3842332 6610668 238769884 0.09000 0.51000 0.40000 0 0 2677129 2677129 143994227 47842561 96151666 12199574 2633043 9566531 5508397 2414724 3093673 111488999 COLLECTIVE TRUSTS 24648108 F PRIVATE EQUITY 48388951 F REAL ASSET FUNDS 4733562 F ABSOLU. RETURN STRATEGIES 4258643 F DEBT SECURITY FUNDS 10842791 F 92872055 DEPOSITS AND ADVANCE COLLECTIONS 2001886 ASSET RETIREMENT OBLIGATION 239680 U.S. GOVERNMENT LOANS REFUNDABLE 1635879 LEASE LIABILITY 35351 3912796 X PART III, LINE 4: THE 50+50 PROJECT IS A FUNDRAISING PROJECT. CALARTS HAS COMMISSIONED 50-60 ARTISTS TO CREATE WORK AND DONATE IT TO CALARTS FOR SALE. THE NUMBER OF EDITIONS, ARTIST PROOFS AND PIECES TO BE KEPT BY THE ARTIST ARE REFLECTED ON THE DONATION FORM. THE PROPOSED SALES PRICE IS NEGOTIATED WITH THE ARTIST AND REFLECTED ON THE DONATION FORM. PART V, LINE 4: ENDOWMENTS ARE USED FOR VARIOUS PURPOSES. THE MAIN PURPOSE IS TO HELP SUPPORT FINANCIAL NEED FOR CALARTS' STUDENTS. PART X, LINE 2: THE INSTITUTE IS AN EDUCATIONAL ORGANIZATION FOR FEDERAL AND STATE INCOME TAX PURPOSES AND IS EXEMPT FROM INCOME TAX, EXCEPT WITH RESPECT TO ANY UNRELATED BUSINESS INCOME. UNRELATED BUSINESS INCOME TAX, IF ANY, IS INSIGNIFICANT AND NO TAX PROVISION HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE INSTITUTE HAD NO UNCERTAIN TAX POSITIONS AS OF THE YEARS ENDED JUNE 30, 2025 OR JUNE 30, 2024. 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 INSTITUTE'S WEBSITE PUBLISHED NON-DISCRIMINATORY POLICY STATEMENT AND A LINK TO OUR STATEMENT IS INCLUDED ON ALL ADMISSIONS MATERIALS, INCLUDING THE APPLICATION FOR ADMISSION. SCHEDULE E, PART I, LINE 6 THE INSTITUTE RECEIVES DIRECT LOANS, SEOG AND WORK STUDY FUNDING FROM THE DEPARTMENT OF EDUCATION. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 14478138 EAST ASIA AND THE PACIFIC 0 0 INVESTMENTS 1000 0 0 0 0 0 0 14479138 0 14479138 1 0 1 1 1 0 1 SCHOLARSHIPS AND GRANTS 1258 28719704 SEOG 97 46428 PART I, LINE 2: FINANCE WORKS WITH ADVANCEMENT TO DETERMINE ANY NEW AND CONTINUING SCHOLARSHIP BUDGETS. STUDENTS ARE SELECTED BASED UPON CRITERIA ESTABLISHED FOR EACH TYPE OF FUNDING. FINANCIAL AID IS NOTIFIED OF THE AMOUNTS AVAILABLE TO AWARD EACH ACADEMIC YEAR. THE FINANCIAL AID OFFICE CONFIRMS STUDENT'S ELIGIBILITY PER FSA GUIDELINES AND DETERMINES THE FINAL AWARD PACKAGE. THE FINANCIAL AID OFFICE NOTIFIES THE ACCOUNTING OFFICE OF EXPENDITURES FOR EACH TERM DURING THE ACADEMIC YEAR. RECONCILIATION FOR DISBURSEMENTS IS PREPARED ON A MONTHLY BASIS BETWEEN FINANCIAL AID AND ACCOUNTING. THE ADVANCEMENT OFFICE PROVIDES REPORTING TO THE DONORS REGARDING THE USE OF DONOR CONTRIBUTED SCHOLARSHIP FUNDS (ENDOWED OR CURRENT USE). AWARD /PRIZE RECIPIENTS ARE DETERMINED BY CRITERIA ESTABLISHED BY THE RESPECTIVE ACADEMIC DEPARTMENTS. THE DEPARTMENTS PROVIDE DISBURSEMENT INFORMATION TO ACCOUNTING FOR THE SELECTED STUDENTS. THE ADVANCEMENT OFFICE PROVIDES REPORTING TO THE DONORS REGARDING USE OF DONOR CONTRIBUTED PRIZE FUNDS. X 1 1 X X X X 1 0 0 0 0 0 0 1 0 RAVI RAJAN PRESIDENT 527265 0 0 0 176 0 30830 0 18461 0 576732 0 0 0 KATIE NICELY SVP ADVANCEMENT 305324 0 50000 0 6580 0 18671 0 5857 0 386432 0 0 0 LORI HUSEIN SVP/CFO/TREASURER 345890 0 0 0 1055 0 22889 0 12928 0 382762 0 0 0 TRACIE COSTANTINO SVP, PROVOST 289620 0 0 0 355 0 19248 0 20563 0 329786 0 0 0 TRAVIS PRESTON DEAN SCHOOL OF THEATER (THRU 6/30/24) 108874 0 0 0 149432 0 7285 0 6263 0 271854 0 0 0 IRENE SCHOLL-TATEVOSYAN GENERAL COUNSEL 222677 0 0 0 87 0 15242 0 17953 0 255959 0 0 0 MICHAEL ELGARICO CHIEF ENROLLMENT OFFICER 235345 0 0 0 125 0 15305 0 30 0 250805 0 0 0 ANN WIENS CHIEF MARKETING AND COMMUNICATIONS OFFICER 214478 0 0 0 548 0 13882 0 18461 0 247369 0 0 0 ALLAN CHEN VP AND CHIEF TECHNOLOGY OFFICER 209310 0 0 0 125 0 14557 0 18666 0 242658 0 0 0 ANTHONY GARRISON-ENGBRECHT VP, STUDENT AFFAIRS 219605 0 0 0 75 0 969 0 13416 0 234065 0 0 0 TAMU YIN ASSISTANT TREASURER 179464 0 0 0 67 0 11826 0 6970 0 198327 0 0 0 KIARA BROWN CHIEF OF STAFF / SECRETARY 180630 0 0 0 67 0 9046 0 6970 0 196713 0 0 0 PART I, LINE 1A HOUSING IS PROVIDED FOR THE PRESIDENT AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE EMPLOYER. PART I, LINE 1B THE ORGANIZATION HAS A GUIDE FOR THE OPERATIONS AND MANAGEMENT OF THE CATTERN HOUSE. THIS HOME IS OWNED BY THE SCHOOL, AND THE PRESIDENT IS REQUIRED TO LIVE IN THIS RESIDENCE TO FACILITATE THE ADMINISTRATIVE, CEREMONIAL, AND SOCIAL RESPONSIBILITIES REQUIRED OF THE POSITION. PART I, LINE 4A A PERSON REPORTED ON PART VII RECEIVED A SEVERANCE PAYMENT UNDER A CONFIDENTIAL AGREEMENT. PART I, LINE 7 A DISCRETIONARY BONUS WAS AWARDED. A CALIFORNIA MUNICIPAL FINANCE AUTHORITY 201563466 13048VWU8 2021-09-14 39997463 SEE PART VI 0 0 0 A 41498953 630431 40868523 2024 0 0 1 1 A 0 1 0 0 0.01510 0.01510 0 0 1 A 0 0 0 1 0 0 0 0 1 A 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: CALIFORNIA MUNICIPAL FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 10/09/2024 SCHEDULE K, PART I, LINE A, COLUMN F FINANCE THE ACQUISITION, CONSTRUCTION, IMPROVEMENT, RENOVATION, AND EQUIPPING OF CERTAIN EDUCATIONAL FACILITIES AND TO REFINANCE CERTAIN OUTSTANDING DEBT. X 2 X 1 X 12389 1132764 FMV X 3 31001 SELLING PRICE X EQUIPMENT 3 3 SELLING PRICE X PIANO 1 1 SELLING PRICE 0 0 1 0 PART I, COLUMN (B): THE NUMBER FOR SECURITIES REPRESENTS THE NUMBER OF SHARES CONTRIBUTED. THE NUMBER FOR OTHER NONCASH CONTRIBUTIONS REPRESENTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY AN EXTERNAL CPA FIRM AND THE CONTROLLER, REVIEWED AND SIGNED BY THE CHIEF FINANCIAL OFFICER. THE AUDIT COMMITTEE REVIEWS THE PUBLIC DISCLOSURE COPY OF THE 990. THEN THE BOARD OF TRUSTEES REVIEWS THE PUBLIC DISCLOSURE COPY OF THE 990 PRIOR TO FILING. THE EXTERNAL FIRM FILES THE FORM ELECTRONICALLY. FORM 990, PART VI, SECTION B, LINE 12C A LETTER IS SENT TO THE BOARD OF TRUSTEE MEMBERS ON AN ANNUAL BASIS REQUESTING DISCLOSURE OF ANY INTEREST THAT COULD GIVE RISE TO CONFLICTS. IF THERE ARE ANY CONFLICTS DISCLOSED, THEY ARE INVESTIGATED BY THE INSTITUTE AS APPROPRIATE. NO CONFLICTS IDENTIFIED. FORM 990, PART VI, SECTION B, LINE 15A THE PRESIDENT'S COMPENSATION IS REVIEWED AND APPROVED BY THE COMPENSATION SUBCOMMITTEE OF THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. COMPARABLE COMPENSATION DATA FROM INDEPENDENT CONSULTANTS, FORM 990S OF OTHER ORGANIZATIONS AND OTHER VARIOUS SALARY SURVEYS ARE REVIEWED BY THE COMMITTEE. THERE IS A WRITTEN CONTRACT THAT IS THEN APPROVED BY THE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 ARTICLES OF INCORPORATION, BYLAWS, FINANCIAL STATEMENTS, TAX RETURNS AND CONFLICT OF INTEREST STATEMENTS ARE ALL AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: UBI FROM PASSTHROUGH INVESTMENTS 31,071. VERMONT COLLEGE OF FINE ARTS INC 36 COLLEGE ST MONTPELIER VT 05652 208384273 EDUCATION VT 501(C)(3) LINE 2 CALIFORNIA INSTITUTE OF THE ARTS 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 VERMONT COLLEGE OF FINE ARTS INC D 500000 FMV