2022-04-18T14:51:58-07:00 2021-05-31 990 2020-06-01 910916534 CORNISH COLLEGE OF THE ARTS CORN 2067265020 1000 Lenora Street Seattle WA 98121 Deborah Treen VP Finance and CFO 2067265020 2022-04-18 1 11 1 AAL2 2020 2022-09-23 18:48:47Z Raymond Tymas-Jones 1000 Lenora Street Seattle WA 98121 28345061 0 X www.cornish.edu X 1914 WA An accredited four year college offering baccalaureate degrees in the performing and visual arts including Art, Design, Film, Interior Architecture, Dance, Music, Performance Production, and Theater. 17 17 512 99 0 0 3116127 7543611 20095767 16130455 877635 314831 -859 -108658 24088670 23880239 5439947 4863819 0 0 14184772 13247897 0 0 498225 7986700 7176260 27611419 25287976 -3522749 -1407737 88112290 85362896 35151107 32206407 52961183 53156489 The mission of Cornish College of the Arts is to provide students aspiring to become practicing artists with an educational program of the highest possible quality, in an environment, that nurtures creativity and intellectual curiosity, while preparing them to contribute to society as artists, citizens, and innovators. 0 0 20629438 4863819 16130455 An accredited four-year college offering baccalaureate degrees in the performing and visual arts. 483 students attended Cornish College in the 2020 fall semester and 446 students attended in the spring semester. In FY 2020/2021, 128 students graduated. The college preparatory dance program instructed 106 students and the extension programs instructed 40 students. 0 0 0 20629438 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 0 1 1 0 0 0 1 0 1 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 1 696 0 1 512 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 0 0 WA X X Deborah Treen 2067265020 1000 Lenora Street Seattle WA 98121 Raymond Tymas-Jones President 40 0.5 X 311151 0 18129 William Seigh Provost & VP Academic Affairs 40 0 X 244111 0 9670 Ryan O'Mealey VP Enrollment Services 40 0 X 195474 0 11544 Anne Derieux VP of Institutional Advancement 40 0.5 X 139288 0 15657 Deborah Treen VP Finance & CFO 40 0.5 X 147026 0 3017 Brandon Bird VP of Operations 40 0 X 120905 0 10025 Jessica Thurlow Associate Provost 40 0 X 107566 0 9132 Victoria Watts Dance Department Chair 40 0 X 105786 0 8568 Tiffany Davis-Brantley Chief Equity Officer & Title IX 40 0 X 107241 0 6670 Christene James VP Finance and Budget, CIO-outgoing 40 0.5 X 15417 0 882 Sharon Cornish-Martin Chair 4 0 X X 0 0 0 Langdon Blakeney Vice Chair 4 0 X X 0 0 0 Michael Fortin Treasurer 4 0 X X 0 0 0 John Jordan Secretary 4 0 X X 0 0 0 L Robin Du Brin Trustee 4 0 X 0 0 0 Gary Fluhrer Trustee 1.5 0 X 0 0 0 Glenn Ford Trustee 1.5 0 X 0 0 0 Marianne Sorich Francis Trustee 1.5 0 X 0 0 0 Jeff Gelfuso Trustee 1.5 0 X 0 0 0 Suzanne Griffin Trustee 4 0 X 0 0 0 Lawrence Hard Trustee 1.5 0 X 0 0 0 Julia Fryett McDaid Trustee 1.5 0 X 0 0 0 Emily Parkhurst Trustee 4 0 X 0 0 0 Joel Petersen Trustee 1.5 0 X 0 0 0 Sherry Raisbeck Trustee 4 0 X 0 0 0 Jon Rosen Trustee 4 0 X 0 0 0 Lisa Scribante Trustee 1.5 0 X 0 0 0 1493965 0 93294 9 0 1 0 Northwest Security Services Inc 14824 Westminster Way N Seattle WA 98133 Security services 627638 Hermanson Company LLP 1221 2nd Avenue N Kent WA 98032 HVAC services 368727 COCM Student Housing Professionals 1500 Urban Center Drive Suite 400 Birmingham AL 35242 Student Housing Management 271508 WPI 26055 SW Canyon Creek Rd Wilsonville OR 97070 Construction services 162217 Ruffalo Noel Levitz LLC 1025 Kirkwood Parkway SW Cedar Rapids IA 52404 Student recruitment svcs 143850 7 1358 0 1927510 178030 4227024 1209689 83387 7543611 Tuition and fees 611310 16019504 16019504 0 0 Student housing and dining 611310 17110 17110 0 0 93841 93841 0 0 16130455 342387 0 0 342387 0 0 0 0 0 0 0 0 188656 0 261678 0 -73022 0 -73022 0 0 -73022 4098428 25384 3563368 588000 535060 -562616 -27556 0 0 -27556 16140 1927510 51776 -35636 0 -35636 0 23880239 16130455 0 206173 0 0 4821437 4821437 42382 42382 0 0 1296532 560341 594376 141815 0 0 0 0 9557117 8091072 1250560 215485 319920 255008 54380 10532 1309802 1044040 222644 43118 764526 609402 129956 25168 262039 262039 0 0 52371 0 52371 0 48732 0 48732 0 0 0 0 0 0 0 64724 0 64724 0 1438896 1177606 258190 3100 19738 16794 2944 0 552016 397852 122506 31658 661881 508730 130314 22837 6100 6100 0 0 1117877 1036200 81677 0 33726 29840 3844 42 0 0 0 0 19876 11101 7920 855 849159 0 849159 0 0 0 0 0 1435071 1271521 163550 0 244482 139363 105119 0 Auto insurance/transportation 94094 78852 15242 0 Meals and entertainment (local) 3704 1542 2105 57 Housing and meal subsidies 289631 289631 0 0 Bad debts and write offs -17857 -21415 0 3558 25287976 20629438 4160313 498225 3128555 410925 8153739 6804787 1889007 1979615 1299200 1424288 0 0 0 0 640891 471313 0 0 262238 198924 70193377 23839098 45083174 46354279 14278854 14893455 0 0 0 0 0 0 13376632 12825310 88112290 85362896 1324668 2096900 0 0 133161 76976 13323000 13323000 0 0 0 0 0 0 1503339 1411344 18866939 15298187 35151107 32206407 X 42295920 42707325 10665263 10449164 52961183 53156489 88112290 85362896 X -1407737 1447320 0 0 0 155723 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 134875 0 0 X X Education 0 8878995 25970 2424191 404464 26266 0 10898426 8868122 93571 401951 458339 26310 0 8878995 9136063 44503 23551 308350 27645 0 8868122 8669718 143174 696590 348794 24625 0 9136063 7934790 215426 869195 328525 21168 0 8669718 0 0.65 0.35 0 1 1 0 15828824 15828824 0 45518981 18380191 27138790 0 1801663 448096 1353567 0 5678541 4149465 1529076 0 1365368 861346 504022 46354279 Bond issuance costs, net 30909 Right of use asset - operating 6046475 Right of use asset - financing 6747926 12825310 0 Due to Dept of Education 508576 Rental deposits 317425 Lease liability - operating 7796112 Lease liability - financing 6603157 Deferred Lease Liability 72917 15298187 X Schedule D, Part III, Line 4 Various works of art including paintings, sketches, and prints for the education of students and for public display Schedule D, Part V, Line 4 Endowment funds are held and preserved at the fair value of the original gift with the earnings awarded as scholarships and program related activities as stipulated by the donor. Schedule D, Part X, Line 2 Both Cornish College of the Arts and the Cornish Foundation are exempt from federal income taxes as entities described in Section 501(c)(3) of the Internal Revenue Code. In addition, Cornish College of the Arts is currently exempt from real and personal property taxes on its educational and other noncommercial properties. The College's returns are subject to examination by federal and state taxing authorities, generally for three and four years, respectively, after they are filed. Each entity believes that it has appropriate support for any tax positions taken affecting its annual filing requirements and, as such, does not have any uncertain tax positions that are material to the consolidated financial statements. The entities would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties were incurred. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Advertising placed in newspapers and the internet for employment opportunities state that the college is an equal opportunity employer. Admissions and recruiting materials also state that the college does not discriminate. Schedule E, Part I, Line 6 Cornish receives financial assistance from the US Department of Education in connection with various programs such as work study programs and the FSEOG grant program. The college also receives assistance from the State of Washington through the college work study program and the Washington Building for the Arts program. Merit scholarships (tuition discounts) North America (including Canada and Mexico, but not the United States) 1 0 9912 scholarship applied to student's account FMV Merit scholarships (tuition discounts) Russia and the newly independent States 1 0 6120 scholarship applied to student's account FMV Merit scholarships (tuition discounts) East Asia and the Pacific 4 0 17680 scholarships applied to student's accounts FMV Merit scholarships (tuition discounts) Europe (including Iceland and Greenland) 1 0 8670 scholarship applied to student's account FMV 0 0 0 0 0 0 Annual Gala 1943650 1927510 16140 50 2000 0 4397 10400 34929 0 0 1943650 1927510 16140 50 2000 0 4397 10400 34929 51776 -35636 1 Scholarships and grants awarded to students attending Cornish College of the Arts 535 4821437 0 Schedule I, Part I, Line 2 The college's financial aid office awards scholarships to students based on eligibility criteria predetermined by donors and college policies. All awards are applied to tuition and related education expenses only. X X X X 0 0 0 0 0 0 0 0 0 Raymond Tymas-Jones President 291651 0 0 0 19500 0 10392 0 7737 0 329280 0 0 0 William Seigh Provost & VP Academic Affairs 244111 0 0 0 0 0 4358 0 5312 0 253781 0 0 0 Ryan O'Mealey VP Enrollment Services 195474 0 0 0 0 0 6485 0 5059 0 207018 0 0 0 Deborah Treen VP Finance & CFO 147026 0 0 0 0 0 0 0 3017 0 150043 0 0 0 Anne Derieux VP of Institutional Advancement 139288 0 0 0 0 0 4821 0 10836 0 154945 0 0 0 A Washington Higher Education Facilities Authority 911306482 2010-12-01 20323000 Financing and refinancing costs associated with the college's facilities 0 0 0 A 7000000 0 20323000 0 0 0 202371 0 20120629 0 0 0 2010 1 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 1 1 KeyBank National 10.00 0 0 0 0 0 X 3 83387 market value 0 0 1 0 Schedule M, Part I, Line 9 The number of contributions listed in column B is the number of separate non-cash donations received from donors during the year. Form 990, Part IV, Line 12b Cornish College of the Arts is included in a consolidated financial statement with the Cornish Foundation that is audited in accordance with generally accepted auditing standards and presented in accordance with generally accepted accounting principles. Form 990, Part VI, Section A, Line 8b There are no committees that have been granted authority to act on behalf of the board. Form 990, Part VI, Section B, Line 11b A copy of the 990 was first reviewed by the college's independent audit firm, then was provided to the board of trustees prior to filing. Form 990, Part VI, Section B, Line 12c As required by the college's Conflict of Interest Policy, board members complete an annual survey that is reviewed by the board and the officers of the college. The board's Trusteeship and Governance Committee is responsible for oversight and enforcement of conflict of interest policies and procedures. Disclosure of potential conflicts of interest are requested at the beginning of each Board meeting. Any potential conflicts of interest are reported to the Audit Committee for determination of whether a conflict of interest exists and appropriate actions as a result. Form 990, Part VI, Section B, Line 15 A subcommittee of the board of trustees annually reviews the President's performance and determines compensation. The committee utilizes peer salary surveys and other research in determining the President's salary. Documentation of the subcommittee deliberation and recommendation is held by the college's Office of Human Resources. The most recent review was completed on December 10, 2021. The President annually reviews officers' performances and determines compensation. Salary surveys and other research are used in determining compensation for key employees. Form 990, Part VI, Section C, Line 19 The college makes its governing documents, conflict of interest policy and financial statements available to the public upon request. Form 990, Part XI, Line 9 Change in value interest rate swap Cornish Foundation 1000 Lenora Street Seattle WA 98121 912105614 endowed scholarships WA 501c3 11A Cornish College of the Arts 1 0 0 1 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 Cornish Foundation c 178030 Scholarship awards