2025-05-07T13:35:23-05:00 2024-06-30 910189318 MOSS ADAMS LLP 3121 W MARCH LN STE 200 STOCKTON CA 952192367 990 2023-07-01 951921340 ART CENTER COLLEGE OF DESIGN ARTC 6263962200 1700 LIDA STREET PASADENA CA 91103 ELSA LUNA SVP, CFAO 6263962200 2025-05-07 1 0 LAUREN A HAVERLOCK P00545829 2099556100 2025-05-07 2023 2025-03-06 01:10:19Z KAREN HOFMANN 1700 LIDA STREET PASADENA CA 91103 268386477 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 2181 115 90173 0 4107717 3823826 139073193 141144980 1566557 3530672 207638 1638915 144955105 150138393 27430473 29139773 0 0 74905925 78716065 33240 11588 2244776 47230308 49489341 149599946 157356767 -4644841 -7218374 392596618 404453575 169754824 168326350 222841794 236127225 X LEARN TO CREATE. INFLUENCE CHANGE. 0 0 149139884 29139773 141144980 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 2023 TO JUNE 2024 WAS APPROXIMATELY 2,251 (FALL 2023), 2,170 (SPRING 2024) AND 946 (SUMMER 2024) STUDENTS. 149139884 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 2689 0 1 2181 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 0 1 1 1 1 1 0 CA X LINA DEASE 6263962328 1700 LIDA STREET PASADENA CA 91103 KAREN HOFMANN PRESIDENT/CEO 40.00 X X 520435 0 73634 RICHARD HALUSCHAK SVP, CF&AO (THRU 1/2024) 40.00 X 310861 0 51137 ANNE BURDICK ACTING PROVOST 40.00 X 249135 0 37284 ANDY OGDEN CHAIR, GRAD IND DES (THRU 12/2023) 40.00 X 240872 0 45008 TOM STERN SVP, ADMISSIONS & ENROLLMENT MGMT 40.00 X 238203 0 40453 MAGGIE HENDRIE DEAN, MEDIA AND TECHNOLOGY 40.00 X 218237 0 37925 GLORIA KONDRUP ED, CTR FOR TYPOGRAPHY (THRU 4/2023) 40.00 X 216459 0 37230 THERESA ZIX VP, INFORMATION TECHNOLOGY 40.00 X 223744 0 23925 LISA SANCHEZ VP, EMPLOYEE ENGAGEMENT & EXPERIENCE 40.00 X 216187 0 26258 AARON BRUCE VP, CHIEF DIVERSITY OFFICER 40.00 X 197083 0 21901 DARRYL MORI ACTING SVP, DEVELOPMENT (THRU 9/2023) 40.00 X 153944 0 24160 MICHAEL M WARSAW TRUSTEE/CHAIR 1.00 X 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 TOM GILMORE TRUSTEE/TREASURER 1.00 X X 0 0 0 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 WESLEY A COLEMAN TRUSTEE (THRU 6/2024) 1.00 X 0 0 0 CLARENCE A DANIELS JR TRUSTEE 1.00 X 0 0 0 DANTLEY DAVIS TRUSTEE (START 10/2023) 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 WILLIAM T GROSS TRUSTEE 1.00 X 0 0 0 BRUCE HEAVIN TRUSTEE 1.00 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 PAUL RAINEY TRUSTEE (START 10/2023) 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 FRANZ VON HOLZHAUSEN TRUSTEE (START 2/2024) 1.00 X 0 0 0 2785160 0 418915 253 0 1 0 DEL AMO CONSTRUCTION INC 23840 MADISON STREET TORRANCE CA 90505 CONSTRUCTION SERVICES 20148190 SECURITAS SECURITY SERVICES USA 4330 PARK TERRACE DR WESTLAKE VILLAGE CA 91361 SECURITY SERVICES 3319279 PBM FACILITY SERVICES PO BOX 6534 PASADENA CA 91109 JANITORIAL SERVICES 1531013 SODEXO OPERATIONS LLC 400 AIRBORNE PARKWAY CHEEKTOWAGA NY 14225 FOOD AND CATERING SERVICES 1175092 FACTORY AUTHORIZED SERVICE INC 12774 FLORENCE AVE SANTA FE SPRINGS CA 90670 CONSTRUCTION SERVICES 960401 48 98614 3725212 83309 3823826 TUITION AND FEES 611600 140133335 140133335 AUXILIARY SERVICES 611600 753607 753607 OTHER REVENUE 611600 258038 258038 141144980 2022232 2022232 953524 953524 525365 171000 354365 354365 354365 118632000 118077084 554916 554916 554916 INSURANCE CLAIMS 900099 1194377 1194377 UBI FROM PASSTHROUGHS 523000 90173 90173 1284550 150138393 141144980 90173 5079414 29139773 29139773 1848335 828336 938680 81319 60145929 57609824 1555445 980660 4676044 4527059 82026 66959 7471990 7077011 270913 124066 4573767 4320837 175633 77297 589401 589401 151811 151811 11588 11588 347377 347377 11441923 10727495 436049 278379 311592 294361 11965 5266 6535484 6174071 250963 110450 8356069 7893978 320873 141218 6166859 5825832 236807 104220 931097 879608 35753 15736 64132 60585 2463 1084 4124110 3896047 158366 69697 6427504 6072063 246816 108625 2761396 2608690 106038 46668 UNCOLLECTIBLE ACCOUNTS 461373 435859 17717 7797 LICENSES, PERMITS, DUES 406798 384302 15621 6875 STUDENT MATERIALS COSTS 391490 369841 15033 6616 FEES ON BOND DEBT 15150 14312 582 256 5775 5775 157356767 149139884 5972107 2244776 7971526 8033730 32100667 10522182 2332317 1231844 5184900 5261082 230000 230000 137090 154622 2001669 2082233 232365345 43411519 169264259 188953826 62888285 60059392 108545991 125969594 40569 30431 1899345 1924639 392596618 404453575 13530143 15020857 12077726 12470878 144029659 140723353 117296 111262 169754824 168326350 X 122294713 127771559 100547081 108355666 222841794 236127225 392596618 404453575 X -7218374 21061978 -432000 -126173 X 0 1 X 1 1 1 X 5331342 12305994 10734860 4107717 3823826 36303739 5331342 12305994 10734860 4107717 3823826 36303739 1899992 34403747 2004031 1613474 1499751 2877818 3501121 11496195 1194377 1194377 48994311 665794261 0.70220 0.73130 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: INSURANCE CLAIMS - 2023 AMOUNT: $ 1,194,377. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 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 99830000 424000 5024000 6513000 419000 201000 98145000 0.32000 0.40000 0.28000 1 0 9979957 9979957 189105714 35688251 153417463 998988 121718 877270 9512225 7042640 2469585 22768461 558910 22209551 188953826 DOMESTIC EQUITY FUNDS 90509422 F MULTI-SECTOR BOND FUNDS 10961942 F MULTI-STRATEGY HEDGE FUND OF FUNDS 2749663 F PRIVATE MARKETS FUND OF FUNDS 21748567 F 125969594 ANNUITY OBLIGATIONS 111262 111262 X 143078569 21061978 -28202629 -7140651 150219220 -80827 -80827 150138393 129793138 432000 207000 639000 129154138 28202629 28202629 157356767 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, 2024 OR 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID -28,202,629. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -171,000. UBI FROM PASSTHROUGHS 90,173. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 171,000. NET CHANGE IN ACTUARIAL OBLIGATIONS 36,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 28,202,629. 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 35000 EUROPE (INCLUDING ICELAND AND GREENLAND) 1 4 PROGRAM SERVICES BERLIN, GERMANY STUDY AWAY PROGRAMMING; LONDON ANCIENT MODERN STUDY 640000 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 2749663 1 6 0 0 1 6 3424663 0 3424663 1 0 1 1 1 0 PART I, LINE 3: ACCRUAL METHOD 1 UNDERGRADUATE SCHOLARSHIPS 1839 24431172 GRADUATE SCHOLARSHIPS 182 2894314 PELL GRANTS, SEOG, FEDERAL WORK STUDY, DIRECT LOANS, HEERF I, II & III STUDENT AID 2059 231478 STUDENT SPECIAL CIRCUMSTANCE TUITION WAIVERS - MEDICAL 4 56564 EDUCATION PROGRAM TUITION DISCOUNTS 322 1049046 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 0 0 0 0 0 0 0 0 0 KAREN HOFMANN PRESIDENT/CEO 519620 0 0 0 815 0 62006 0 11628 0 594069 0 0 0 RICHARD HALUSCHAK SVP, CF&AO (THRU 1/2024) 308805 0 0 0 2056 0 39506 0 11631 0 361998 0 0 0 ANNE BURDICK ACTING PROVOST 249135 0 0 0 0 0 18902 0 18382 0 286419 0 0 0 ANDY OGDEN CHAIR, GRAD IND DES (THRU 12/2023) 212006 0 0 0 28866 0 15489 0 29519 0 285880 0 0 0 TOM STERN SVP, ADMISSIONS & ENROLLMENT MGMT 238080 0 0 0 123 0 29209 0 11244 0 278656 0 0 0 MAGGIE HENDRIE DEAN, MEDIA AND TECHNOLOGY 217390 0 0 0 847 0 23646 0 14279 0 256162 0 0 0 GLORIA KONDRUP ED, CTR FOR TYPOGRAPHY (THRU 4/2023) 197290 0 0 0 19169 0 25985 0 11245 0 253689 0 0 0 THERESA ZIX VP, INFORMATION TECHNOLOGY 223606 0 0 0 138 0 23261 0 664 0 247669 0 0 0 LISA SANCHEZ VP, EMPLOYEE ENGAGEMENT & EXPERIENCE 214563 0 0 0 1624 0 25593 0 665 0 242445 0 0 0 AARON BRUCE VP, CHIEF DIVERSITY OFFICER 196103 0 0 0 980 0 21236 0 665 0 218984 0 0 0 DARRYL MORI ACTING SVP, DEVELOPMENT (THRU 9/2023 125865 0 0 0 28079 0 13813 0 10347 0 178104 0 0 0 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 7390000 115695160 954606 53435554 61305000 1 0 1 1 B 1120000 41678558 417901 30991432 10269225 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 1 0 0 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: 09/19/2019 SCHEDULSCHEDULE K, PAE K, PART I, COLUMN (E) AND SCHEDULE K, PART II, LINE 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 83309 HIGH/LOW AVG. OF FMV 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 AND 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. EMPLOYEES ARE BOUND BY A SIMILAR BUT SEPARATE CONFLICT OF INTEREST POLICY AND ACKNOWLEDGE AND AGREE TO ADHERE TO IT IN WRITING UPON BEING HIRED BY THE COLLEGE AND WHENEVER IT IS REVISED OR AMENDED. 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 -36,000. UNRELATED BUSINESS INCOME NOT RECORDED ON BOOKS -90,173. 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 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0