2020-05-05T17:00:05-05:00 2019-06-30 350921680 CROWE LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2018-07-01 362167725 The Art Institute of Chicago ARTI 3124433600 111 South Michigan Avenue Chicago IL 60603 Alexandra Holt Exec VP, Finance & Administration 2020-05-05 true NICOLE BENCIK P00756195 3128997000 2018 2020-09-23 17:36:50Z Alexandra Holt 111 South Michigan Avenue Chicago IL 60603 408370650 false X www.artic.edu and www.saic.edu X 1879 IL The Art Institute of Chicago, a not-for-profit corporation, is both a museum and an institution of higher education that exists to provide appreciation and education in visual fine arts and design. 75 74 4128 814 1913678 0 71017212 97739224 212383078 225444444 56585746 45649286 7418659 7610030 347404695 376442984 45751205 48782843 0 131455252 138345137 76484 485410 11164091 140024143 136905769 317307084 324519159 30097611 51923825 1623214581 1652785035 276351465 259393022 1346863116 1393392013 See Schedule O false false 180574970 48762843 189871435 The School of the Art Institute of Chicago (SAIC) is an accredited college of art and design offering undergraduate, graduate, and post-baccalaureate degree programs for studio artists, art educators, art therapists, designers, writers, and art historians. SAIC's fine arts graduate program consistently ranks among the top programs in the nation by U.S. News and World Report, and the School offers world-class resources including the Art Institute of Chicago museum, on-campus galleries, and state-of-the-art facilities. In fiscal year 2019, average academic year full-time-equivalent enrollment of degree-seeking students was 3,683 including international students from 78 countries. 105901850 20000 38961393 The Museum's mission is to collect, preserve, and interpret works of art of the highest quality from across the globe for the inspiration and education of its visitors. It achieves this through building and stewarding its renowned permanent collection, producing educational programming around the collection with daily performances, gallery tours, lectures, readings, and other special events, and presenting world class exhibitions highlighting both its collection and objects loaned from other institutions. The Art Institute's encyclopedic collection consists of approximately 300,000 works of art in 11 curatorial departments. The museum has the third largest collection of art in the United States. Exhibitions featured within FY19 include Manet and Modern Beauty, Dawoud Bey: Night Come Tenderly Black, Harry Who? 1966-69, and Tomma Abts. Attendance for FY19 has exceeded 1.53 million visits. 286476820 true true false true false false true false true true true false false true true true false true false true false false true true false false false true true true false false false false false false true false true false true true false false true true true true false false true X 4619 3 true 4128 true true true false false false false true true true false false false false false X 75 74 true false true false false false false true true false false false true true true true true true true false CA AL IL KS KY AK MD MA MI MS NH NJ NY ND OK OR SC UT VA WI X X Alexandra Holt 3124994265 111 South Michigan Avenue Chicago IL 60603 Robert M Levy Chair 1.0 X X 0 0 0 Denise B Gardner Vice Chair 1.0 X X 0 0 0 Samuel M Mencoff Vice Chair 1.0 X X 0 0 0 David J Vitale Vice Chair 1.0 X X 0 0 0 Frederick H Waddell Vice Chair 1.0 X X 0 0 0 Jay Frederick Krehbiel Treasurer 1.0 X X 0 0 0 Arjun Aggarwal Trustee 1.0 X 0 0 0 James N Bay Trustee 1.0 X 0 0 0 Anne Searle Bent Trustee 1.0 X 0 0 0 Anita Blanchard Trustee 1.0 X 0 0 0 Neil G Bluhm Trustee-Ended 11/2018 1.0 X 0 0 0 Barbara Bluhm-Kaul Trustee 1.0 X 0 0 0 Robert Buford Trustee 1.0 X 0 0 0 Scott Canel Trustee 1.0 X 0 0 0 John S Chapman Trustee 1.0 X 0 0 0 Lester N Coney Trustee 1.0 X 0 0 0 A Steven Crown Trustee 1.0 X 0 0 0 Shawn M Donnelley Trustee 1.0 X 0 0 0 Janet Duchossois Trustee 1.0 X 0 0 0 Fred Eychaner Trustee 1.0 X 0 0 0 Lori Gray Faversham Trustee 1.0 X 0 0 0 Aaron Fleischman Trustee 1.0 X 0 0 0 Rebecca Ford Trustee-Ended 12/2018 1.0 X 0 0 0 Karen Frank Trustee 1.0 X 0 0 0 Jay Franke Trustee 1.0 X 0 0 0 Sarah Nava Garvey Trustee 1.0 X 0 0 0 Matthew R Gibson Trustee 1.0 X 0 0 0 James A Gordon Trustee 1.0 X 0 0 0 Karen Gray-Krehbiel Trustee 1.0 X 0 0 0 Kenneth C Griffin Trustee 1.0 X 0 0 0 Joseph Gromacki Trustee 1.0 X 0 0 0 Ann E Grube Trustee 1.0 X 0 0 0 Darrel Hackett Trustee 1.0 X 0 0 0 Adnaan Hamid Trustee 1.0 X 0 0 0 Caryn Harris Trustee 1.0 X 0 0 0 Betty B Harris Trustee 1.0 X 0 0 0 Stephanie Field Harris Trustee-Ended 5/2019 1.0 X 0 0 0 Steven Hunter Trustee 1.0 X 0 0 0 Linda Johnson Rice Trustee 1.0 X 0 0 0 Pamela Joyner Trustee 1.0 X 0 0 0 Rita Knox Trustee 1.0 X 0 0 0 Anstiss Hammond Krueck Trustee 1.0 X 0 0 0 Josef Lakonishok Trustee 1.0 X 0 0 0 Paul Lambert Trustee 1.0 X 0 0 0 Eric Lefkofsky Trustee 1.0 X 0 0 0 Lawrence F Levy Trustee 1.0 X 0 0 0 Barbara Levy Kipper Trustee 1.0 X 0 0 0 Barry L MacLean Trustee-Ended 11/2018 1.0 X 0 0 0 John F Manley Trustee 1.0 X 0 0 0 Joe Mansueto Trustee 1.0 X 0 0 0 Howard M McCue III Trustee 1.0 X 0 0 0 John E McGovern III Trustee-Ended 7/2018 1.0 X 0 0 0 Eric T McKissack Trustee 1.0 X 0 0 0 Cary D McMillan Trustee 1.0 X 0 0 0 Harriet Horwitz Meyer Trustee 1.0 X 0 0 0 Usha Mittal Trustee 1.0 X 0 0 0 Sylvia M Neil Trustee 1.0 X 0 0 0 Alexandra C Nichols Trustee 1.0 X 0 0 0 Matthew Pettinelli Trustee 1.0 X 0 0 0 Harvey Plotnick Trustee-Ended 7/2018 1.0 X 0 0 0 Michael Polsky Trustee 1.0 X 0 0 0 Anne Pramaggiore Trustee 1.0 X 0 0 0 Thomas J Pritzker Trustee 1.0 X 0 0 0 Bob Rennie Trustee 1.0 X 0 0 0 Anne Reyes Trustee 1.0 X 0 0 0 Andrew M Rosenfield Trustee 1.0 X 0 0 0 Betsy Bergman Rosenfield Trustee 1.0 X 0 0 0 Michael Sacks Trustee 1.0 X 0 0 0 Ellen Sandor Trustee 1.0 X 0 0 0 Scott Santi Trustee 1.0 X 0 0 0 Gordon Segal Trustee 1.0 X 0 0 0 Brenda M Shapiro Trustee 1.0 X 0 0 0 Sophia Shaw Trustee 1.0 X 0 0 0 Stephanie Sick Trustee-Ended 11/2018 1.0 X 0 0 0 Prabhakant Sinha Trustee 1.0 X 0 0 0 Anita Sinha Trustee 1.0 X 0 0 0 Stephanie Skestos Gabriele Trustee 1.0 X 0 0 0 Linda Smith Buonanno Trustee 1.0 X 0 0 0 Louis B Susman Trustee-Ended 11/2018 1.0 X 0 0 0 Marilynn Thoma Trustee 1.0 X 0 0 0 Reeve B Waud Trustee 1.0 X 0 0 0 Shirley Welsh Ryan Trustee 1.0 X 0 0 0 Roger L Weston Trustee 1.0 X 0 0 0 James Rondeau President, Museum 40.0 X 904631 0 76057 Elissa Tenny President, School 40.0 X 669361 0 42236 Julia Getzels EVP & General Counsel-Ended 6/2019 40.0 X 499704 0 124840 Alexandra Holt EVP, Finance & Admin 40.0 X 290382 0 28825 Lisa Wainwright Dean of Faculty/VP Acad Admin 40.0 X 253600 0 40972 Brian Esker VP of Finance & Admin, School 40.0 X 244114 0 90961 Rose Milkowski VP for Enrollment Management 40.0 X 240503 0 25326 Thomas Buechele VP for Campus Operations, School 40.0 X 217412 0 79621 Evelyn Jeffers VP for Museum Development 40.0 X 568770 0 42678 Michael Nicolai Chief Human Resources Officer 40.0 X 238038 0 80022 Andrew Simnick Sr VP for Finance, Strategy, & Ops 40.0 X 303446 0 48619 Sarah Guernsey Deputy Director, Curatorial Affairs 40.0 X 253834 0 91416 Craig Barton Provost-Ended 7/2018 40.0 X 391507 0 19700 Kirstie Lytwynec VP and General Manager, Retail 40.0 X 255904 0 34073 Russell Collett VP of Operations 40.0 X 205649 0 20496 Ann Goldstein Deputy Director, Chair & Curator Modern & Contemporary Art 40.0 X 304619 0 35157 Tao Wang Chair of Asian Art/Executive Director Initiatives in Asia 40.0 X 212736 0 31730 Maria Simon Associate General Counsel 40.0 X 208388 0 61037 Paul Coffey Vice Provost 40.0 X 228331 0 95516 Eugene Adams Chief Information Officer 40.0 X 226065 0 114083 Deborah Johnston Former Controller 0.0 X 121579 0 21273 Walter Massey Chancellor, Former President, SAIC 0.0 X 393539 0 10615 7232112 0 1215253 150 true true false Securitas Security Services USA Inc 4330 Park Terrace Drive Westlake Village CA 91361 Security Services 5222767 Able Engineering Services Inc 868 Folsom Street San Francisco CA 94107 Engineering Services 3936223 ABM Onsite Services- Midwest 180 N LaSalle St 1700 Chicago IL 60601 Janitorial Service 2406236 Food For Thought 7001 Ridgeway Ave Lincolnwood IL 60712 Catering Services 2347208 Bon Appetit 111 S Michigan Avenue Chicago IL 60603 Catering Services 1628245 65 X 15493484 3216693 6590271 72438776 12858592 97739224 Tuition and Fees 611600 187281340 187281340 Museum Admissions 900099 18392189 18392189 Proceeds from Sale of Art 900099 13277350 13277350 Member Program Revenues 900099 726207 726207 Other Restricted Prog Rev 900099 2180393 2180393 3586965 3586965 0 0 225444444 10369440 10369440 143762 143762 3792339 1388508 2403831 0 2403831 40129 2363702 59569261 24292415 35276846 0 35279846 35279846 193525 3216693 1374458 -1180933 -1180933 13360 3460 9900 9900 10121753 4868825 5252928 3388384 1864544 Other revenue 900099 980542 9005 971537 0 0 0 0 980542 376442984 228832828 1913678 47957254 48782843 48782843 5747673 3955906 1232582 559185 270985 270985 102243388 86080652 10371542 5791194 2286692 1624208 414249 248235 20412040 16769638 2314568 1327834 7384359 6152163 790683 441513 961966 961966 467021 467021 14320 14320 485410 485410 2604925 2604925 15709577 13600695 1093264 1015618 2517056 2468479 17258 31319 9854590 8790487 527983 536120 3608655 2394242 1167560 46853 88949 88949 26840419 26105078 575512 159829 4105115 3866527 78865 159723 592573 336110 166572 89891 7339439 4627833 2711606 17015 17015 26890418 25972997 917421 1217318 1217318 Accessions/Books/Other Art 22773268 22773268 Other FF&E and related maintenance 4650410 4259353 374562 16495 Exhibition Related 3271191 3271191 Other Program Costs 968000 967860 140 2413544 2068703 90109 254732 324519159 286476820 26878248 11164091 20935997 31374048 62657735 83736423 6318786 5432988 0 0 0 4065689 3517385 3433409 3856773 2192944 2579893 763646099 342422382 439570944 421223717 655236355 696187399 424754044 403898793 0 0 4048678 977616 1623214581 1652785035 37288804 40999380 0 17222470 15568650 142694857 120971094 0 0 54000000 44000000 25145334 37853898 276351465 259393022 X 236925720 491925190 647218890 434002794 462718506 467464029 0 0 0 1346863116 1393392013 1623214581 1652785035 X 51923825 9320836 -14715764 X false true X true true true X 64644760 106285789 55429565 65578847 92396397 384335358 5689620 5732824 5644223 5438365 5342827 27847859 0 0 0 0 0 0 70334380 112018613 61073788 71017212 97739224 412183217 27401123 384782094 9794570 10339909 11138842 11993785 14170463 57437569 0 0 0 0 0 0 693874 762813 506695 662212 206885 2832479 472453265 1052340072 0.8144 0.8173 X Schedule A, Part I, Line 2 Reason for Public Charity Status The Art Institute of Chicago is exempt under two categories listed in Part I, box 2 which describes a school, Section 170 (b) (1) (A) (ii) and box 7 which describes an organization that normally receives a substantial part of its support from a governmental unit or from the general public, Section 170 (b) (1) (A) (vi). The Art Institute of Chicago has selected box 2, because per instructions only one applicable box should be checked. Schedule A, Part II, Line 10 Other Income DESCRIPTION - FUNDRAISING EVENTS & GAMING ACTIVITIES NOT INCLUDED ELSEWHERE, COLUMN A - 693874.0, COLUMN B - 762813.0, COLUMN C - 506695.0, COLUMN D - 662212.0, COLUMN E - 206885.0, COLUMN F - 2832479.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false true 44 false true 14320 14364 false Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY The amount in line 1i represents the Art Institute of Chicago's portion of funds utilized by Museums in the Park for lobbying activities ($12,928), ACA International estimate of support of lobbying activities on behalf of its members ($120), lobbying portion of State and National dues of the American Institute of Architects ($224), Choose Chicago estimate allocated to lobbying activities ($10), Coalition of Higher Education Assistance Organizations dues attributed to lobbying expenses ($31), International Facility Management Association dues attributed to lobbying activities ($13), and a good-faith estimate of dues paid to the National Association of Independent Colleges and Universities that relate to lobbying ($994). Museums in the Park works with the Chicago Park District, Chicago Public Schools, the City of Chicago, the State of Illinois and other entities to build greater awareness of the intrinsic value of museums. The amount in line 1g represents the cost of lunch allocated to a representative during his tour of the School of the Art Institute of Chicago. During May and June of 2019, the School of the Art Institute of Chicago invited two state senators and representatives on its campus for a facilities tour and lunch and/or meetings with the President of SAIC. The purpose of hosting these site visits was to educate the senators and representatives about SAIC programs and initiatives taking place in the district. X X X X false 1122602753 33464447 54161973 4209172 76036105 2604925 1127378971 1056571840 33947333 98729220 4298834 59869079 2477727 1122602753 970926874 24548779 126227068 4021698 57793486 3315697 1056571840 962156186 85880530 -15202998 3803429 55602314 2501101 970926874 1004102659 39741238 32661422 3465407 108323033 2560693 962156186 0.32 0.41 0.27 false false 34972096 34972096 205068956 117347550 87721406 493885085 201914326 291970759 29719962 23160506 6559456 421223717 Hedge Funds 256915132 F Venture Capital /Private Equity 96053850 F Real Assets 50929811 F 403898793 Pension Liability 33534086 Refundable Advances 4319812 37853898 X 391248810 9320836 454664 0 9775500 381473310 2604925 -7635251 -5030326 376442984 344719913 454664 22351015 22805679 321914234 2604925 0 2604925 324519159 Schedule D, Part III, Line 1a Collections of art - financial statement footnote From the Institute's audited financial statements: "The value of the art objects in the permanent collection, and the holdings of the libraries, are excluded from the statements of financial position. Additions to the permanent collection are made either by gifts, bequests, or through purchases using Institute's acquisition funds. Institute acquisition funds may be classified as with donor restrictions, in which either (i) the principal balance is to be held in perpetuity and only the income earned on principal balances may be used for acquisitions, or (ii) both the principal and earned income may be used for acquisitions; or without donor restrictions, representing funds designated by the Board to be used for acquisitions. The withdrawal of works of art from the collection of the Institute is performed in accordance with a formal policy initially adopted in 1975 and last revised in fiscal year 2019. The objects are generally offered for sale at a public auction and the proceeds from such dispositions are classified as with donor restrictions for the purchase of works of art. All works of art and certain library collections are held for public exhibition, education, or research; they are protected, kept unencumbered, cared for, and preserved, and are subject to strict organizational policies governing their use. The value of the Institute's permanent collection is not subject to reasonable estimation. Therefore, it is not included in the statements of financial position." Schedule D, Part III, Line 4 Collections of art - description of collections The Institute's permanent collection consists of art objects as well as the holdings of the libraries. All works of art and certain library collections are held for public exhibition, education, or research in furtherance of the Institute's exempt purpose. Schedule D, Part V, Line 4 Intended uses of endowment funds The Institute establishes endowment funds for the purpose of investing assets in a manner that preserves the real value of the endowment principal and provides spendable funds that can be used to fulfill the purposes for which the endowments were established. The Institute's Executive Committee of the Board of Trustees determines the method to be used to appropriate endowment funds for expenditure. The Institute's spendable endowment payout formula is a controlled growth distribution formula. Depending upon market conditions and the needs and available resources of the Institute, appropriations for expenditure from individual endowments may be temporarily suspended to facilitate preservation of the endowment or in excess of the spending policy as deemed prudent by the Executive Committee. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote From the Institute's audited financial statements: "The Institute is a not-for-profit corporation exempt from federal income tax under Section 501(a) of the Internal Revenue Code as an organization described in Section 501(c)(3); the Institute is similarly exempt from state income taxes. Despite the general exemption from income taxation, the Institute is subject to federal and state income tax at corporate rates on its unrelated business income. Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 740, Income Taxes, prescribes a comprehensive model for how an institution should recognize, measure, present, and disclose in its financial statements uncertain tax positions that the institution has taken or expects to take on a tax return. For federal purposes, the Institute has reported federal net operating losses ("NOLs") of approximately $9.8 million for tax periods through June 30, 2018. The Institute does not have the ability to estimate the NOL through June 30, 2019, as the NOL calculation is reliant upon third-party information, which is not yet available. These NOLs will expire, if not utilized, between the years 2028 and 2037. The Institute has not recorded a tax benefit for these NOLs for the years ended June 30, 2019 and 2018, because it is unlikely that the Institute will be able to realize the benefit." The financial statements did not report uncertain tax positions. Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements Cost of Goods Sold - -4868825 Rental Expenses - -1388508 Special Events - -1374458 Raffles - -3460 - Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 Cost of Goods Sold - 4868825 Rental Expenses - 1388508 Special Events - 1374458 Raffles - 3460 PENSION RELATED CHANGES OTHER THAN NET PERIODIC PENSION COSTS - 14715764 true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY The nondiscriminatory policy is publicized in a variety of materials, including the student bulletin, the general registration information issued each semester, initial marketing materials, and the student handbook. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT The Institute receives federal financial aid funding from the Department of Education under the following programs: Federal Pell Grant Program Federal Supplemental Educational Opportunity Grants Program Federal Work Study Program East Asia and the Pacific 0 0 Program Services Conf, Lectures, Other Education 59298 Europe (Including Iceland and Greenland) 0 0 Program Services Conf, Lectures, Other Education 170326 North America (Canada & Mexico only) 0 0 Program Services Conf, Lectures, Other Education 32728 South Asia 0 0 Program Services Conf, Lectures, Other Education 5225 South America 0 0 Program Services Conf, Lectures, Other Education 1814 Sub-Saharan Africa 0 0 Program Services Conf, Lectures, Other Education 6231 Europe (Including Iceland and Greenland) 0 20 Program Services Exhibitions 687607 North America (Canada & Mexico only) 0 6 Program Services Exhibitions 39807 South America 0 0 Program Services Exhibitions 11574 Sub-Saharan Africa 0 1 Program Services Exhibitions 13002 Europe (Including Iceland and Greenland) 0 0 Program Services Marketing/Public Relations 15503 North America (Canada & Mexico only) 0 0 Program Services Marketing/Public Relations 6765 East Asia and the Pacific 0 5 Program Services EXHIBITIONS 97023 Europe (Including Iceland and Greenland) 0 0 Program Services Member Travel 16061 North America (Canada & Mexico only) 0 0 Program Services Member Travel 2840 Sub-Saharan Africa 0 0 Program Services Member Travel 4220 Central America and the Caribbean 0 0 Program Services Recruiting 355 East Asia and the Pacific 0 0 Program Services Recruiting 115457 Europe (Including Iceland and Greenland) 0 0 Program Services Recruiting 26526 Middle East and North Africa 0 0 Program Services Recruiting 4870 North America (Canada & Mexico only) 0 1 Program Services Recruiting 29970 South Asia 0 0 Program Services Recruiting 28939 South America 0 0 Program Services Recruiting 6173 East Asia and the Pacific 0 0 Program Services Research 2918 Europe (Including Iceland and Greenland) 0 0 Program Services Research 97908 North America (Canada & Mexico only) 0 0 Program Services Research 5858 Central America and the Caribbean 0 0 Program Services CONF, LECTURES, OTHER EDUCATION 27 Sub-Saharan Africa 0 0 Program Services Research 7221 East Asia and the Pacific 0 0 Program Services Study Trips 32429 Europe (Including Iceland and Greenland) 0 0 Program Services Study Trips 266351 South Asia 0 0 Program Services Study Trips 49725 South America 0 0 Program Services Study Trips 16159 Central America and the Caribbean 0 0 ,Passive Investments N/A 298746726 Europe (Including Iceland and Greenland) 0 0 ,Passive Investments N/A 94862 Middle East and North Africa 0 0 Program Services CONF, LECTURES, OTHER EDUCATION 6647 Middle East and North Africa 0 0 Program Services RESEARCH 66 East Asia and the Pacific 0 0 Program Services Marketing/Public Relations 448 East Asia and the Pacific 0 0 Program Services MEMBER TRAVEL 3579 South America 0 0 Program Services RESEARCH 1683 South Asia 0 0 Program Services Member Travel 12148 South Asia 0 1 Program Services EXHIBITIONS 500 North America (Canada & Mexico only) 0 0 ,PASSIVE INVESTMENTS N/A 1416904 Sub-Saharan Africa 0 0 Program Services STUDY TRIPS 313 0 32 0 2 0 34 1170024 300974762 302144786 true false true true true true X X X X X X X true SD&A Teleservices Inc 5757 W Century Blvd Los Angeles CA 90045 Telemarketing false 137560 95301 42259 Lukens Company 2800 Shirlington Rd Arlington VA 22206 Direct Marketing false 1295175 365859 929316 Donald A Campell & CO 1 East Wacker Dr 2100 Chicago IL 60601 Campaign Strategy false 24250 -24250 1432735 485410 947325 CA CO FL AL IL KS KY AK MD MA MI MS NH NJ NY ND OH OK OR SC UT VA WA WI Woman's Board Masterpiece 19 2124407 2053687 70720 91257 176103 2266 660740 Woman's Board Jeff Koon's 834460 807970 26490 109089 45441 451351 355036 96315 12262 6432 157466 113402 3410218 3216693 193525 12262 97689 442658 2266 819583 1374458 -1180933 Schedule G, Part I, Line 2b(v) payment of fees or payment of expenses SD&A TELESERVICES, INC-AIC PAYS FUNDRAISING CONSULTANT FEES AT A STATED RATE PER CONTRACT AND OTHER ADMINISTRATIVE COSTS SUCH AS POSTAGE, PRINTING, AND OFFICE OVERHEAD. PROFESSIONAL SERVICES FEES AND ADMINISTRATIVE COSTS WERE $59,087 AND $36,214 RESPECTIVELY.;LUKENS COMPANY-AIC PAYS FUNDRAISING CONSULTANT FEES AT A STATED RATE PER CONTRACT AND COSTS SUCH AS POSTAGE AND PRINTING. PROFESSIONAL SERVICES FEES WERE $365,859 AND POSTAGE AND PRINTING COSTS WERE $392,781; true Faculty Enrichment Grants 70 100000 N/A N/A Student Scholarships and Stipends 3381 48682843 N/A N/A Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. Scholarships and stipends are available to undergraduate students and graduate students through the admissions process. Once awarded, depending on the type of aid, payment is credited to either the student account or directly to the student. All payments are monitored and approved by the Financial Services department before payment is applied or paid to the student. All students receiving scholarships and stipends have been selected on a non-discriminatory basis. Faculty enrichment grant opportunities are available to full-time and part-time faculty teaching in a degree program. Selections are based on the merit of the proposal and reviewed by members of a selection committee. Payment are monitored by the Dean's office and all payments are approved by the Vice Provost and School Finance department before payment is made. X X X X true true X X X X true true false false false false false false true true James Rondeau President, Museum 734407 0 0 0 170224 0 68000 0 8057 0 980688 0 0 0 Elissa Tenny President, School 531517 0 0 0 137844 0 24300 0 17936 0 711597 0 0 0 Julia Getzels EVP & General Counsel-Ended 6/2019 396619 0 0 0 103085 0 104000 0 20840 0 624544 0 0 0 Alexandra Holt EVP, Finance & Admin 289778 0 0 0 604 0 20693 0 8132 0 319207 0 0 0 Lisa Wainwright Dean of Faculty/VP Acad Admin 252698 0 0 0 902 0 23454 0 17518 0 294572 0 0 0 Brian Esker VP of Finance & Admin, School 224583 0 0 0 19531 0 76000 0 14961 0 335075 0 0 0 Rose Milkowski VP for Enrollment Management 239971 0 0 0 532 0 21855 0 3471 0 265829 0 0 0 Thomas Buechele VP for Campus Operations, School 212856 0 0 0 4556 0 58000 0 21621 0 297033 0 0 0 Evelyn Jeffers VP for Museum Development 523882 0 0 0 44888 0 24750 0 17928 0 611448 0 0 0 Michael Nicolai Chief Human Resources Officer 216502 0 0 0 21536 0 59000 0 21022 0 318060 0 0 0 Andrew Simnick Sr VP for Finance, Strategy, & Ops 301559 0 0 0 1887 0 24722 0 23897 0 352065 0 0 0 Sarah Guernsey Deputy Director, Curatorial Affairs 252081 0 0 0 1753 0 72000 0 19416 0 345250 0 0 0 Craig Barton Provost-Ended 7/2018 158206 0 0 0 233301 0 11939 0 7761 0 411207 0 0 0 Kirstie Lytwynec VP and General Manager, Retail 255904 0 0 0 0 0 24758 0 9315 0 289977 0 0 0 Russell Collett VP of Operations 204840 0 0 0 809 0 18604 0 1892 0 226145 0 0 0 Ann Goldstein Deputy Director, Chair & Curator Modern & Contemporary Art 302579 0 0 0 2040 0 21689 0 13468 0 339776 0 0 0 Tao Wang Chair of Asian Art/Executive Director Initiatives in Asia 193372 0 0 0 19364 0 19373 0 12357 0 244466 0 0 0 Maria Simon Associate General Counsel 206289 0 0 0 2099 0 41000 0 20037 0 269425 0 0 0 Paul Coffey Vice Provost 226012 0 0 0 2319 0 78000 0 17516 0 323847 0 0 0 Eugene Adams Chief Information Officer 205378 0 0 0 20687 0 88000 0 26083 0 340148 0 0 0 Deborah Johnston Former Controller 112575 0 0 0 9004 0 13361 0 7912 0 142852 0 0 0 Walter Massey Chancellor, Former President, SAIC 113324 0 0 0 280215 0 10609 0 6 0 404154 0 81732 0 Schedule J, Part I, Line 1a First-class or charter travel First class travel is allowed under limited circumstances as set forth in the travel policy. Schedule J, Part I, Line 1a Travel for companions The Presidents of the Museum and the School and the Chancellor are allowed to have their partners accompany them on business trips if their presence is necessary for a specific, bonafide purpose of the Institute. Schedule J, Part I, Line 1a Housing allowance or residence for personal use The President of the School is paid a housing allowance of $4000 per month which is treated as taxable compensation. Schedule J, Part I, Line 1a Health or social club dues or initiation fees Athletic, social, or other club fees incurred by the President of the School, the President of the Museum, and the Chancellor are reimbursed to the extent they are used for business purposes. In addition, the employment contracts for the President of the School and the Chancellor allow for reimbursement for up to $5,000 annually for fees and membership dues for athletic, social, or other clubs used for personal, non-business purposes. The annual amounts reimbursed are reported as taxable compensation. Schedule J, Part I, Line 4a Severance or change-of-control payment Severance was paid to Craig Barton in the amount of $230,765. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan As noted in the audited financial statements, a supplemental non qualified retirement plan exists for the benefit of a select group of management or highly compensated employees whose benefits under other Institute qualified retirement plans are limited by the IRS. Employees are eligible if their compensation for a plan year is in excess of the IRS limits under Code Section 401(a)(17), if they received a benefit accrual or employer contribution under other Institute qualified plans, and if they have not voluntarily terminated employment prior to the first business day following the plan year. Benefits are calculated based on the excess of benefits that would be provided under Institute qualified plans if IRS compensation limits did not exist. The following individuals received payments under the supplemental retirement plan: James Rondeau amount paid in calendar year 2018 of $150,000 Julia E. Getzels amount paid in calendar year 2018 of $82,649 Elissa Tenny amount paid in calendar year 2018 of $22,200 Eve Jeffers amount paid in calendar year 2018 of $23,344 Craig Barton amount paid in calendar year 2018 of $675 Andrew Simnick amount paid in calendar year 2018 of $713 Walter Massey amount paid in calendar year 2018 of $270,985. Schedule J, Part I, Line 8 Payments on contract that is subject to the initial contract exception The President, Museum and the Provost were paid their salaries under contracts that were subject to the initial contract exception. As noted in 4A above, the Provost was paid severance under a separate agreement. A Illinois Finance Authority 861091967 45200F3N7 2010-06-09 113537854 Refund 10/15/1992, 2/23/1995, and 3/27/1996 Bonds; Adv Refund Portion of 2/9/2000 Series 2000A Bonds false false false B Illinois Finance Authority 861091967 45203HMP4 2012-10-18 66292422 Advance refund portions of 3/18/98 Srs 1998A, 2/9/00 Srs 2000A, 7/9/03 Srs 2003A, 5/20/10 Srs 2010B true false false C Illinois Finance Authority 861091967 45204EHD3 2016-08-25 42808133 Advance refund Series 2009A Bonds issued 3/26/2009 false false false A 60595000 113537854 5986 113531868 true true true true B 28255000 135000 66292422 66292422 false true true true C 42808133 4760 42803373 false true true true A 0.0 0.0 0.0 B 0.0 0.0 0.0 C 0.0 0.0 0.0 A false false false true false false false false true B false false false true false false false false true C false true false false false false false false true A true B true C true Schedule K, Part IV, Line 6 Columns A & C This question is being answered without regard to yield-restricted advance refunding escrow financed with proceeds of the bonds. Schedule K, Part IV, Line 2c COLUMN A Issuer name: Illinois Finance Authority The calculation for computing no rebate due was performed on 07/24/2015 Schedule K, Part IV, Line 2c COLUMN B Issuer name: Illinois Finance Authority The calculation for computing no rebate due was performed on 10/18/2017 34860 Tuition Remission Tuition remission for family member of an Officer Peter Haratonik Family Member of Elissa Tenny, Current Officer 33447 Employee Compensation false Tess Haratonik Family Member of Elissa Tenny, Current Officer 10716 Employee Compensation false Silvia Beltrametti Family Member of Jay Frederick Krehbiel, Current Trustee 11450 Employee Compensation false X 1520 0 Other - SEE PART II X 3468 Market value X 153 12286512 Market value X 1 500000 Market value X Departmental Supplies 21 47775 Market value X Special Events 16 20837 Market value 33 false true false Schedule M, Part I, Line 1 Method of determining noncash contribution amounts The Institute does not capitalize its collection items nor report contributions of collection items as revenue as permitted under generally accepted accounting principles. Schedule M, Part I Explanations of reporting method for number of contributions Art - Works of art - Number of items contributed Books and publications - Number of items contributed Securities - Publicly traded - Number of contributions received Other - Departmental Supplies Number of items contributed Other - Special Events Number of items contributed Collectibles - Number of items contributed Form 990, Part III, Line 1 Organization Mission The purposes for which The Art Institute of Chicago is formed are: To found, build, maintain and operate museums, schools, and libraries of art and theatres; to provide support facilities in connection therewith; to conduct appropriate activities conducive to the artistic development of the region; and to conduct and participate in activities of national and international significance; To form, conserve, research, publish, and exhibit a permanent collection of objects of art of all kinds, to present temporary exhibitions including loaned objects of art of all kinds, and to cultivate and extend the arts by appropriate means; To establish and conduct comprehensive programs of education, including preparation of visual artists, teachers of art, and designers; to provide education services in written, spoken and media formats; To provide lectures, instruction and entertainment, including dramatic, film and musical performances of all kinds, which complement and further the general purposes of the Institute; To receive in trust property of all kinds and to exercise all necessary powers as trustee for such trust estates whose objects are related to the furtherance of the general purposes of the Institute or for the establishment or maintenance of works of art. Form 990, Part V, Line 7g Intellectual Property The Art Institute of Chicago is not required to file Form 8899. The Institute receives contributions of intellectual property from time to time; however, the type of property contributed does not meet the definition of "qualified intellectual property" for Form 8899 filing purposes. Form 990, Part VI, Line 15b Compensation Review & Approval Process - Key Employees In addition to the process described for Line 15A, for key employees whose compensation is not reviewed and approved by the Compensation and Benefits Committee, their compensation is generally based on current independent salary surveys that are compiled by and maintained by the Institute's Human Resources Department and is decided by the employee's supervisor based on factors such as experience and performance. Form 990, Part VI, Line 1a Delegate broad authority to a committee As provided in the By-Laws, during the intervals between the meetings of the Board of Trustees, the Executive Committee shall possess and may exercise, in all cases in which special directions have not been given by the Board, all the powers of the Board of Trustees in the management and direction of the Art Institute, and in respect to all other business and affairs of the Art Institute, in such manner as shall be for its best interest, except the filling of any vacancy on the Board of Trustees, the amendment of the bylaws or the articles of incorporation, and all other powers and authorities, the exercise of which by the Executive Committee is prohibited by law. The Executive Committee shall consist only of Trustees. Its members shall be the Chairman of the Board of Trustees, the Chairmen of those Standing Committees with responsibilities for both the Museum and the School, the Vice Chairmen of the Board of Trustees, and the Chairman of the Board of Governors of the School. If any of such individuals is not a Trustee, he or she may be invited to attend Executive Committee meetings from time to time to provide a report for his or her committee. Form 990, Part VI, Line 2 Family/business relationships amongst interested persons Caryn Harris and Stephanie Field Harris - Family relationship, Walter Massey and Cary McMillan - Business relationship, Matthew R. Gibson and Thomas Pritzker - Business relationship, Jay Frederick Krehbiel and David Vitale - Business relationship, Thomas Pritzker and Cary McMillan - Business relationship, Betsy Bergman Rosenfield and Andrew Rosenfield - Family relationship, A. Steven Crown and Louis B. Susman - Business relationship, Anita Sinha and Prabhakant Sinha - Family relationship, Gordon Segal and Eric Lefkofsky - Business relationship, Sarah Garvey and Eric McKissack - Business relationship Form 990, Part VI, Line 4 Significant changes to organizational documents The Institute's by laws were amended on September 12, 2018. There were no material changes resulting from the amendment. Form 990, Part VI, Line 11b Review of form 990 by governing body The 990 is prepared internally by the Institute's Accounting Office and reviewed by the EVP for Finance and Administration and an independent professional accounting firm. The Institute's management confers with legal and bond counsel as needed to complete the tax filing. A full version of the Form 990 is presented to and reviewed by the Institute's Audit and Risk Committee for comment, with the single exception that the Schedule B, Schedule of Contributors, is redacted to omit the names and addresses of the individual contributors to preserve donor anonymity. An unmodified version of the complete 990 is reviewed by the Audit and Risk Committee Chair. Any questions or concerns identified by the Audit and Risk Committee are addressed and all appropriate changes are incorporated into the Form 990. After all input has been addressed, the final public disclosure version of the 990 is distributed to all voting members of the Institute's board of Trustees prior to filing with the IRS. After the final version of the Form 990 has been distributed and time for comments has expired, management and staff file the final Form 990 as required. Form 990, Part VI, Line 12c Conflict of interest policy Under the Institute's Conflict of Interest Policy, all members of the Board of Trustees, Board of Governors, and Standing and Advisory Committees, and all officers and assistant officers of the Institute (collectively known as "Related Parties") must act in the best interests of the Institute, without regard to their business, family, or personal activities and concerns. If a Related Party believes he or she has an actual or potential financial conflict of interest, the Related Party shall immediately disclose such conflict to the Chairman of the Board and to the Institute's General Counsel. The Related Party may not vote on, approve, or recommend any action or matter in which he or she has an actual or potential conflict of interest. When such matters are considered, the Related Party shall not be counted for purposes of determining whether there is a quorum. Financial interest or other activities that would constitute a conflict of interest if undertaken by a Related Party also constitute a conflict of interest if undertaken by an immediate family member of the Related Party and must be disclosed by the Related Party. The policy is distributed annually to all Related Parties. All voting Trustees, members of the Board of Governors, members of standing committees, Officers, and Vice Presidents are required to attest annually to their familiarity with the policy and to provide any information the Institute deems relevant concerning any possible conflicts of interest. The annual conflict of interest replies are logged and monitored by the Institute's General Counsel's office. Form 990, Part VI, Line 15a Process to establish compensation of top management official The Institute's Executive Committee, composed entirely of independent Trustees, approves compensation for the President and Director of the Museum, the President of the School, and for the Chancellor. The Institute's Compensation and Benefits Committee, also composed entirely of independent Trustees, approves compensation for other employed officers and for certain key employees. The two committees use the following process in considering compensation. The Institute's outside compensation expert prepares a written compensation analysis report for each person whose compensation is to be presented to either the Executive Committee or the Compensation and Benefits Committee. That report includes information such as a valuation of the proposed total remuneration, comparison data on total remuneration provided by similar institutions for similar services, an analysis of how the proposed remuneration compares to competitive practice, and conclusions on the competitive reasonableness of the proposed compensation. The report is provided to the relevant Committee in advance of the meeting. The Committee may also receive other written materials relevant to compensation, such as performance evaluations. At the meeting, the compensation expert and/or the Institute's Chief Human Resources Officer reviews the compensation analysis report with the Committee. The Committee also receives input from officers and Trustees on the performance of the persons being reviewed. Committee deliberations and the decisions on compensation are documented in contemporaneous meeting minutes. In the case of the President and the Director of the Museum and the President of the School, the Chancellor, the Provost, and the Dean of Faculty of the School, the decisions may be reflected in employment contracts as well. Form 990, Part VI, Line 19 Required documents available to the public The Institute's governing documents are available to the public via written request to the Institute and in addition, in part through applicable governmental agencies. The Institute's financial statements are available to the public via the Institute's own website, via the Illinois Attorney General's website and upon written request. The conflict of interest policy is available to the public upon written request to the Institute. Form 990, Part VII, Section A, Line 1a, Column (B) Hours Per Week The amount of hours per week devoted to position has been noted as 1 hour for all Trustees. The amount of actual hours per week devoted by each Trustee varies depending on the position held and the committees the Trustee devotes time to. Form 990, Part VIII, Line 2f Other Program Service Revenue All other - Total Revenue: 3586965, Related or Exempt Function Revenue: 3586965, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Form 990, Part XI, Line 9 Other changes in net assets or fund balances Pension Related Changes Other Than Net Periodic Pension Cost - -14715764; Schedule B, 501(c)(3) Special Rule Explanation Special Rules, Box 1 The Art Institute of Chicago is exempt under two categories listed in Schedule A Part I: box 2, which describes a school under Section 170 (b) (1) (A) (ii) and box 7, which describes an organization that normally receives a substantial part of its support from a governmental unit or from the general public under Section 170 (b) (1) (A) (vi). The Art Institute of Chicago has selected box 2, consistent with the instructions that only one applicable box should be checked. Since the Institute is also exempt under Schedule A, Part I box 7, Schedule B Parts I and II have been completed under the Special Rules Box 1 as the Institute has met the 33 1/3% support test of the regulations under sections 509 (a) (1) / 170 (b) (1) (A) (vi). 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