2021-04-30T14:19:47-05:00 2020-06-30 910189318 MOSS ADAMS LLP 3121 W MARCH LN STE 200 STOCKTON CA 952192367 990 2019-07-01 951921340 ART CENTER COLLEGE OF DESIGN ARTC 6263962200 1700 LIDA STREET PASADENA CA 91103 RICHARD HALUSCHAK SVP, CFO & CAO 6263962200 2021-04-28 1 TRACY S PAGLIA P00366884 2099556100 2021-04-28 2019 2022-09-23 18:48:47Z LORNE M BUCHMAN 1700 LIDA STREET PASADENA CA 91103 156020073 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. 29 28 2065 140 -18519 -19747 5749696 5331342 121474678 128926919 5304053 1750613 115832 237399 132644259 136246273 24434597 28379351 0 0 63396728 69142948 125300 113675 2121257 41282886 39186273 129239511 136822247 3404748 -575974 328957995 332038708 138585574 137397734 190372421 194640974 X LEARN TO CREATE. INFLUENCE CHANGE. 0 0 128560892 28379351 128926919 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 (ADVERTISING, FILM, FINE ART, GRAPHIC DESIGN, ILLUSTRATION, AND PHOTOGRAPHY AND IMAGING) AND A BACHELOR OF SCIENCE DEGREE IN FIVE MAJORS (ENVIRONMENTAL DESIGN, INTERACTION DESIGN, PRODUCT DESIGN, TRANSPORTATION DESIGN, AND ENTERTAINMENT DESIGN). GRADUATE PROGRAMS LEAD TO THE MASTER OF FINE ARTS DEGREE IN FILM, FINE ART, MEDIA DESIGN, AND GRAPHIC DESIGN. THE GRADUATE PROGRAMS THAT OFFER THE MASTER OF SCIENCE DEGREE ARE ENVIRONMENTAL DESIGN, INDUSTRIAL DESIGN, AND TRANSPORTATION DESIGN. ALL EXPENDITURES RELATE TO ACADEMIC INSTRUCTION, PROGRAM SUPPORT AND OPERATION OF THE COLLEGE. THE FTE ENROLLMENT FOR JULY 2019 TO JUNE 2020 WAS APPROXIMATELY 2,197 STUDENTS. 128560892 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 1 1 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 2954 0 1 2065 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 1 1 0 1 1 1 1 1 0 CA X LINA DEASE 6263962326 1700 LIDA STREET PASADENA CA 91103 LORNE M BUCHMAN PRESIDENT/CEO 40.00 X X 615311 0 76823 EMILY LASKIN SVP, DEVELOPMENT 40.00 X 296180 0 48553 RICHARD HALUSCHAK SVP, CFO & CAO 40.00 X 294518 0 47764 KAREN HOFMANN PROVOST 40.00 X 270512 0 47761 ANDREW OGDEN CHAIR, GRADUATE INDUSTRIAL DESIGN 40.00 X 205793 0 53337 GLORIA KONDROP EXECUTIVE DIRECTOR, HMCT 40.00 X 211394 0 37681 CATHERINE BARON SVP, ADMISSIONS AND ENROLLMENT 40.00 X 208017 0 36531 DAVID MOCARSKI CHAIR, ENVIRONMENTAL DESIGN 40.00 X 207072 0 36635 ANN FIELD CHAIR, ILLUSTRATION 40.00 X 205430 0 36635 ROSS LAMANNA CHAIR, FILM 40.00 X 205446 0 24472 JERED GOLD VP, MARKETING AND COMMUNICATIONS 40.00 X 154071 0 38523 TOM STERN VP, ADMISSIONS 40.00 X 151944 0 28433 AARON BRUCE VP AND CHIEF DIVERSITY OFFICER 40.00 X 168516 0 4 JEFFREY C BARBAKOW TRUSTEE 1.00 X 0 0 0 CARL BASS TRUSTEE 1.00 X 0 0 0 RONALD BENSION TRUSTEE 1.00 X 0 0 0 WESLEY A COLEMAN TRUSTEE 1.00 X 0 0 0 CLARENCE A DANIELS JR TRUSTEE 1.00 X 0 0 0 ROBERT C DAVIDSON JR CHAIRMAN 1.00 X X 0 0 0 MICHELLE GADSDEN-WILLIAMS TRUSTEE 1.00 X 0 0 0 TOM GILMORE TRUSTEE 1.00 X 0 0 0 JEFFREY L GLASSMAN TRUSTEE/FIRST VICE CHAIR 1.00 X X 0 0 0 WILLIAM T GROSS TRUSTEE 1.00 X 0 0 0 SU MATHEWS HALE TRUSTEE 1.00 X 0 0 0 BRUCE HEAVIN TRUSTEE 1.00 X 0 0 0 LINDA A HILL TRUSTEE 1.00 X 0 0 0 STEVEN M HITTER TRUSTEE 1.00 X 0 0 0 TIMOTHY M KOBE TRUSTEE 1.00 X 0 0 0 TERRI KOHL TRUSTEE 1.00 X 0 0 0 MELISSA LORA TRUSTEE 1.00 X 0 0 0 SAMUEL J MANN TRUSTEE 1.00 X 0 0 0 DAVID C MARTIN TRUSTEE/SECRETARY 1.00 X X 0 0 0 PETER W MULLIN TRUSTEE 1.00 X 0 0 0 CHARLES E NEARBURG 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 JEFFREY SALAZAR TRUSTEE 1.00 X 0 0 0 ZACHARY E SNYDER TRUSTEE 1.00 X 0 0 0 REINER M TRILTSCH TRUSTEE/TREASURER 1.00 X X 0 0 0 MICHAEL M WARSAW TRUSTEE 1.00 X 0 0 0 ALYCE DE ROULET WILLIAMSON TRUSTEE 1.00 X 0 0 0 3194204 0 513152 164 0 1 0 HALSTED CONSTRUCTION INC 4201 KRAFT AVE STUDIO CITY CA 91604 CONSTRUCTION 1778092 EXTENSIONENGINE LLC 55 BARR FARM ROAD BEDFORD NH 03110 ONLINE LEARNING CONSULTING 1402448 ALLIED UNIVERSAL SECURITY SERVICES 161 WASHINGTON ST 600 CONSHOHCKEN PA 19428 SECURITY 1303035 S&S MANAGEMENT SERVICES LLC 8523 LANKERSHIM BLVD SUN VALLEY CA 91352 JANITORIAL SERVICES 1133163 ACCO ENGINEERED SYSTEMS INC 888 EAST WALNUT STREET PASADENA CA 91101 FACILITIES REPAIR & MAINTENANCE SERVICES 826970 38 2210730 3120612 326006 5331342 TUITION AND FEES 611600 128015365 128015365 AUXILIARY SERVICES 611600 504604 504604 OTHER REVENUE 611600 406950 406950 128926919 1174695 1174695 440618 440618 388718 132800 255918 255918 255918 19776300 19641000 135300 135300 135300 UBI FROM PASSTHROUGHS 523000 -18519 -18519 -18519 136246273 128926919 -18519 2006531 28379351 28379351 2497644 868878 1284140 344626 52906047 49980343 2031592 894112 3637242 3436103 139670 61469 6180462 5838682 237330 104450 3921553 3704691 150588 66274 386884 386884 114742 114742 113675 113675 317114 317114 8065157 7726543 314067 24547 261400 246944 10038 4418 10676417 10086012 409974 180431 2173388 2053200 83458 36730 4579151 4325924 175839 77388 1172827 1107969 45037 19821 96670 91324 3712 1634 2843270 2686037 109182 48051 4392204 4149315 168661 74228 2774867 2621417 106555 46895 LICENSES, PERMITS, DUES 525327 496276 20173 8878 UNCOLLECTIBLE ACCOUNTS 480150 453597 18438 8115 STUDENT MATERIALS COSTS 311458 294234 11960 5264 FEES ON BOND DEBT 14875 14052 572 251 372 372 136822247 128560892 6140098 2121257 19054347 18010724 43924726 37630779 7167959 4805276 6073720 5030045 131429 164286 130437 149663 1166206 1329385 146727256 26788061 114114878 119939195 41431685 49219638 93325900 91619360 175260 152847 2261448 3987510 328957995 332038708 11956780 12184707 13987347 13559243 112497964 111517139 143483 136645 138585574 137397734 X 103395430 107519813 86976991 87121161 190372421 194640974 328957995 332038708 X -575974 5372203 -432000 -95676 X 0 1 X 1 1 1 X 13090468 8058678 11313748 5749696 5331342 43543932 13090468 8058678 11313748 5749696 5331342 43543932 13476205 30067727 2611439 1847236 2773793 2922258 2004031 12158757 68236 68236 55770925 576089137 0.53910 0.52300 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: CAR CLASSIC - 2015 AMOUNT: $ 68,236. 2016 AMOUNT: $ 0. 2017 AMOUNT: $ 0. 2018 AMOUNT: $ 0. 2019 AMOUNT: $ 0. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 99830000 424000 5024000 6513000 419000 201000 98145000 97518000 2337000 3544000 2915000 603000 51000 99830000 90479000 3296000 7252000 2796000 503000 210000 97518000 80805000 345000 12564000 2453000 577000 205000 90479000 86609000 2036000 -4720760 2964000 155240 80805000 0.22000 0.56300 0.21700 1 0 9979957 9979957 118064743 23117087 94947656 6274553 3002754 3271799 12408003 668220 11739783 119939195 DOMESTIC EQUITY FUNDS 64947004 F CORPORATE BOND FUNDS 8521570 F MULTI-STRATEGY HEDGE FUND OF FUNDS 14318078 F PRIVATE MARKETS FUND INVESTMENT 3832708 F 91619360 ANNUITY OBLIGATIONS 136645 136645 X 114493321 5372203 -27276474 -21904271 136397592 -151319 -151319 136246273 110224768 432000 246995 678995 109545773 27276474 27276474 136822247 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, 2020 OR 2019. PART XI, LINE 2D - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID -27,276,474. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -132,800. UBI FROM PASSTHROUGHS -18,519. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 132,800. NET CHANGE IN ACTUARIAL OBLIGATIONS 114,195. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 27,276,474. 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 0 PROGRAM SERVICES KYOTO, JAPAN & SHANGHAI, CHINA STUDY ABROAD TRIP 75000 EUROPE (INCLUDING ICELAND AND GREENLAND) 1 3 PROGRAM SERVICES BERLIN, GERMANY, LONDON, AND ITALY STUDY ABROAD PROGRAM 480000 NORTH AMERICA (CANADA AND MEXICO) 0 0 PROGRAM SERVICES MEXICO CITY STUDY ABROAD TRIP 20000 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 14318078 1 3 0 0 1 3 14893078 0 14893078 1 0 1 1 1 0 PART I, LINE 3: ACCRUAL METHOD PART III ACCOUNTING METHOD: X X X X X X X 1 JOHN LARSON & COMPANY 1075 LINDA GLEN DRIVE PASADENA CA 91105 SURVEY RESEARCH SERVICES 0 0 113675 -113675 113675 -113675 CA 1 UNDERGRADUATE SCHOLARSHIPS 2321 23905897 GRADUATE SCHOLARSHIPS 208 2443956 PELL GRANTS, SEOG, FEDERAL WORK STUDY, DIRECT LOANS 2880 458463 STUDENT SPECIAL CIRCUMSTANCE TUITION WAIVERS - MEDICAL 9 79929 EDUCATION PROGRAM TUITION DISCOUNTS 560 1491106 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 1 0 0 0 0 0 0 0 LORNE M BUCHMAN PRESIDENT/CEO 613331 0 0 0 1980 0 54885 0 21938 0 692134 0 0 0 EMILY LASKIN SVP, DEVELOPMENT 292370 0 0 0 3810 0 36385 0 12168 0 344733 0 0 0 RICHARD HALUSCHAK SVP, CFO & CAO 293228 0 0 0 1290 0 36385 0 11379 0 342282 0 0 0 KAREN HOFMANN PROVOST 270076 0 0 0 436 0 36385 0 11376 0 318273 0 0 0 ANDREW OGDEN CHAIR, GRADUATE INDUSTRIAL DESIGN 204082 0 0 0 1711 0 24466 0 28871 0 259130 0 0 0 GLORIA KONDROP EXECUTIVE DIRECTOR, HMCT 210769 0 0 0 625 0 25515 0 12166 0 249075 0 0 0 CATHERINE BARON SVP, ADMISSIONS AND ENROLLMENT 203419 0 0 0 4598 0 24362 0 12169 0 244548 0 0 0 DAVID MOCARSKI CHAIR, ENVIRONMENTAL DESIGN 204081 0 0 0 2991 0 24466 0 12169 0 243707 0 0 0 ANN FIELD CHAIR, ILLUSTRATION 204081 0 0 0 1349 0 24466 0 12169 0 242065 0 0 0 ROSS LAMANNA CHAIR, FILM 204081 0 0 0 1365 0 24466 0 6 0 229918 0 0 0 JERED GOLD VP, MARKETING AND COMMUNICATIONS 153921 0 0 0 150 0 16590 0 21933 0 192594 0 0 0 TOM STERN VP, ADMISSIONS 151865 0 0 0 79 0 16268 0 12165 0 180377 0 0 0 AARON BRUCE VP AND CHIEF DIVERSITY OFFICER 168032 0 0 0 484 0 0 0 4 0 168520 0 0 0 PART I, LINE 4B PRESIDENT/CEO LORNE BUCHMAN ENTERED INTO A SPLIT INTEREST AGREEMENT WITH THE COLLEGE. MR. BUCHMAN PURCHASED A LIFE INSURANCE POLICY FOR WHICH THE COLLEGE WILL PAY THE PREMIUMS IN THE FORM OF A LOAN TO BE REPAID BY MR. BUCHMAN. THE COLLEGE PAID $32,857 FOR THE PREMIUM IN 2019. 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 A 1080000 115378212 954606 15715384 61305000 37403222 1 0 1 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 A 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 09/19/2019 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. LORNE M BUCHMAN PRESIDENT/CEO SPLIT-DOLLAR LIFE INSURANCE X 131429 164286 0 1 1 164286 X 7 326006 HIGH/LOW AVG. OF FMV X FURNITURE/ACCESSORIES 10 0 VALUE NOT ASSIGNED 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 -114,195. UNRELATED BUSINESS INCOME NOT RECORDED ON BOOKS 18,519.