2019-05-13T11:01:20-05:00 2018-06-30 861065772 Deloitte Tax LLP 50 South Sixth Street Suite 2800 Minneapolis MN 55402 990 2017-07-01 362167725 The Art Institute of Chicago ARTI 3124433600 111 South Michigan Avenue Chicago IL 60603 Alexandra Holt Exec VP, Finance & Administration 2019-05-13 true Kristina Rasmussen P00143920 6123974000 2017 2019-02-21 02:37:17Z Alexandra Holt 111 South Michigan Avenue Chicago IL 60603 392965001 false X www.artic.edu and www.saic.edu X 1879 IL To found, build, maintain and operate museums, schools, and libraries of art and theatres. (See Schedule O) 77 77 4011 745 2041071 0 61073788 71017212 199220523 212383078 50002827 56585746 9014704 7418659 319311842 347404695 42787866 45751205 0 134734791 131455252 109899 76484 9389579 137864386 140024143 315496942 317307084 3814900 30097611 1566021763 1623214581 298337472 276351465 1267684291 1346863116 See Schedule O false false 172664570 45751205 183543066 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 2018, average academic year full-time-equivalent enrollment of degree-seeking students was 3,640 including international students from 67 countries. 105913809 28840012 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 FY18 include Charles White: A Retrospective, John Singer Sargent and Chicago's Gilded Age, Rodin: Sculptor and Storyteller, and Mounira al Solh: I strongly believe in our right to be frivolous. Attendance for FY18 has exceeded 1.58 million visits. 278578379 true true false true false false true false true true true false false true true true false true false true false false true true true false false true true true true false false false false false true false true false true true false false true true true true false false true 1039 2 true 4011 true true true false false false false true true true false false false X 77 77 true false true false false false false true true false false false true true true true true true true true false CA AL IL KS KY MD MA MI MS NH NJ NY 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 Anne Searle Bent Vice Chair/Trustee 1.0 X X 0 0 0 Denise B Gardner Vice Chair 1.0 X X 0 0 0 Cary D McMillan Vice Chair/Trustee 1.0 X X 0 0 0 J Christopher Reyes Vice Chair-Ended 06/2018 1.0 X X 0 0 0 Andrew M Rosenfield 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 Anita Blanchard Trustee 1.0 X 0 0 0 Neil G Bluhm Trustee 1.0 X 0 0 0 Barbara Bluhm-Kaul 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 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 Jean Goldman Trustee-Ended 01/2018 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 1.0 X 0 0 0 David C Hilliard Trustee-Ended 11/2017 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 Judy Keller Trustee-Ended 11/2017 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 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 1.0 X 0 0 0 John F Manley Trustee 1.0 X 0 0 0 H George Mann Trustee-Ended 11/2017 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 1.0 X 0 0 0 Eric T McKissack Trustee 1.0 X 0 0 0 Samuel M Mencoff Trustee 1.0 X 0 0 0 Harriet Horwitz Meyer 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 Harvey Plotnick Trustee 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 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 1.0 X 0 0 0 Anita Sinha Trustee 1.0 X 0 0 0 Prabhakant 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 1.0 X 0 0 0 Marilynn Thoma Trustee 1.0 X 0 0 0 Dave Walker Trustee-Ended 12/2017 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 787047 0 60690 Elissa Tenny President, School 40.0 X 601505 0 37257 Julia Getzels EVP & General Counsel 40.0 X 477800 0 101059 Alison Sowden EVP & CFO-Ended 10/2017 40.0 X 325560 0 34448 Deborah Johnston Controller-Ended 05/2018 40.0 X 226345 0 40274 Alexandra Holt EVP, Finance & Admin-Start 04/2018 40.0 X 0 0 0 Lisa Wainwright Dean of Faculty/VP Acad Admin 40.0 X 258254 0 47930 Brian Esker VP of Finance & Admin, School 40.0 X 238302 0 72050 Rose Milkowski VP for Enrollment Management 40.0 X 230473 0 23765 Thomas Buechele VP for Campus Operations, School 40.0 X 202889 0 77120 Evelyn Jeffers VP for Museum Development 40.0 X 560980 0 48892 Michael Nicolai Chief Human Resources Officer 40.0 X 221976 0 66967 Andrew Simnick Sr VP for Finance, Strategy, & Ops 40.0 X 265335 0 51325 Sarah Guernsey Deputy Director, Curatorial Affairs 40.0 X 236860 0 82643 Craig Barton Provost 40.0 X 284054 0 36981 Kirstie Lytwynec VP and General Manager, Retail 40.0 X 249295 0 32237 Russell Collett VP of Operations 40.0 X 194799 0 22012 Ann Goldstein Deputy Director, Chair & Curator Modern & Contemporary Art 40.0 X 301830 0 37877 Eugene Adams Chief Information Officer 40.0 X 221400 0 99100 Paul Coffey Vice Provost 40.0 X 208656 0 81378 Tao Wang Chair of Asian Art/Executive Director Initiatives in Asia 40.0 X 208061 0 30250 Felice Dublon VP/Dean of Student Affairs 40.0 X 201001 0 37389 Walter Massey Chancellor, Former President, SAIC 40.0 X 251217 0 24770 6753639 0 1146414 149 true true false MA Mortenson Company 25 NW Point Blvd Ste 100 Elk Grove Village IL 60007 Construction Services 9237538 Securitas Security Services USA Inc 4330 Park Terrace Drive Westlake Village CA 91361 Security Services 5366123 Able Engineering Services Inc 868 Folsom Street San Francisco CA 94107 Engineering Services 4257853 ABM Onsite Services- Midwest 180 N LaSalle St 1700 Chicago IL 60601 Janitorial Service 2518551 Food For Thought 7001 Ridgeway Ave Lincolnwood IL 60712 Catering Services 2226301 74 X 0 13861757 1888755 0 6654823 48611877 10976021 71017212 Tuition and Fees 611600 180114187 180114187 Museum Admissions 900099 17995715 17995715 Proceeds from Sale of Art 900099 5963873 5963873 Member Program Revenues 900099 1528643 1528643 Other Restricted Prog Rev 900099 2370841 2370841 4409819 4409819 0 0 212383078 8272578 8272578 134505 134505 3586703 1201896 2384807 0 2384807 122346 2262461 87063628 38750460 48313168 0 48313168 48313168 651947 1888755 922312 -270365 -270365 10265 8290 1975 1975 9845085 4677348 5167737 3249012 1918725 0 0 0 0 0 347404695 215632090 2041071 58714322 45751205 45751205 5501721 3754260 1220571 526890 235232 235232 96392855 81057655 10849694 4485506 2469801 1845942 411238 212621 20014376 16308972 2649100 1056304 6841267 5700364 816246 324657 913016 913016 472852 472852 14499 14499 76484 76484 2477727 2477727 15368018 12031927 1867717 1468374 2724149 2610452 113697 9752545 8680153 594144 478248 3559592 2342819 1173811 42962 166931 166931 25022544 24094023 784498 144023 4599737 4341645 84960 173132 588469 396720 135418 56331 8095211 4976741 3118470 20436 20436 28393407 27376753 1016654 1526557 1526557 Accessions/Books/Other Art 26746405 26740053 6352 Other equipment and related maintenance 4646720 4020439 619995 6286 Exhibition Related 2061355 2061355 Other Program Costs 868555 868381 174 2005418 1654865 133015 217538 317307084 278578379 29339126 9389579 4171591 20935997 64506600 62657735 5752310 6318786 0 0 0 4085307 4065689 4324145 3433409 2145813 2192944 755647358 316076414 456942969 439570944 586938343 655236355 434307758 424754044 0 0 2846927 4048678 1566021763 1623214581 39182684 37288804 0 18715515 17222470 150560871 142694857 0 0 56800000 54000000 33078402 25145334 298337472 276351465 X 195484832 236925720 631771739 647218890 440427720 462718506 0 0 0 1267684291 1346863116 1566021763 1623214581 X 30097611 43119046 0 0 0 5962168 X false true X true true true X 76297506 64644760 106285789 55429565 65578847 368236467 5613886 5689620 5732824 5644223 5438365 28118918 0 0 0 81911392 70334380 112018613 61073788 71017212 396355385 26429968 369925417 9602085 9794570 10339909 11138842 11993785 52869191 0 0 0 754785 693874 762813 506695 662212 3380379 452604955 1018091321 0.8173 0.8107 X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 0 X Schedule A, Part I, Line 2 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 - 754785.0, COLUMN B - 693874.0, COLUMN C - 762813.0, COLUMN D - 506695.0, COLUMN E - 662212.0, COLUMN F - 3380379.0; false false false false false false false false true 14499 14499 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 ($13,383), an ACA International estimate of support of lobbying activities on behalf of its members ($100), American Society of Safety Engineers estimate of dues allocated lobbying activities ($4), Choose Chicago estimate allocated to lobbying activities ($39), Coalition of Higher Education Assistance Organizations dues attributed to lobbying expenses ($32), and a good-faith estimate of dues paid to National Association of Independent Colleges and Universities that relate to lobbying ($941). 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. 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 ($13,383), an ACA International estimate of support of lobbying activities on behalf of its members ($100), American Society of Safety Engineers estimate of dues allocated lobbying activities ($4), Choose Chicago estimate allocated to lobbying activities ($39), Coalition of Higher Education Assistance Organizations dues attributed to lobbying expenses ($32), and a good-faith estimate of dues paid to National Association of Independent Colleges and Universities that relate to lobbying ($941). 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. X X X X true 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 870433675 30936999 149438324 3248116 40800273 2657950 1004102659 0.32 0.41 0.27 false true true 34972096 34972096 58072837 29114819 28958018 636210028 265809390 370400638 26190086 21012563 5177523 202311 139642 62669 439570944 Hedge Funds 276214274 F Venture Capital /Private Equity 96905013 F Real Assets 51634757 F 424754044 Pension Liability 21094630 Refundable Advances 4050704 25145334 X 402096783 43119046 1279798 5961125 50359969 351736814 2477727 -6809846 -4332119 347404695 322919001 1279798 6809846 8089644 314829357 2477727 0 2477727 317307084 Schedule D, Part III, Line 1a Collections of art - financial statement footnote From page 8 of 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's acquisition funds may be classified as permanently restricted, for which only the income earned on principal balances may be used for acquisitions; temporarily restricted, for which both the principal and earned income may be used for acquisitions; or unrestricted, 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 2015. The objects are generally offered for sale at a public auction and the proceeds from such dispositions are classified as temporarily restricted 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 page 10 of 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 $11.1 million for tax periods through June 30, 2017. The Institute does not have the ability to estimate the NOL through June 30, 2018, 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 2027 and 2037. The Institute has not recorded a tax benefit for these NOLs for the years ended June 30, 2018 and 2017, 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 2(d) Other revenues in audited financial statements not in form 990 Pension-related changes other than net periodic pension costs - 5961125 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements Cost of Goods Sold - -4677348 Rental Expenses - -1201896 Special Events - -922312 Raffles - -8290 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 Cost of Goods Sold - 4677348 Rental Expenses - 1201896 Special Events - 922312 Raffles - 8290 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 1 Program Services Conf, Lectures, Other Education 48255 Europe (Including Iceland and Greenland) Program Services Conf, Lectures, Other Education 289167 North America (Canada & Mexico only) 1 Program Services Conf, Lectures, Other Education 97097 Russia and Neighboring States Program Services Conf, Lectures, Other Education 1794 South Asia Program Services Conf, Lectures, Other Education 3520 South America Program Services Conf, Lectures, Other Education 2606 Sub-Saharan Africa Program Services Conf, Lectures, Other Education 11442 East Asia and the Pacific 1 Program Services Exhibitions 22018 Europe (Including Iceland and Greenland) 13 Program Services Exhibitions 558434 North America (Canada & Mexico only) 3 Program Services Exhibitions 13071 Russia and Neighboring States Program Services Exhibitions 271 South America Program Services Exhibitions 16130 Sub-Saharan Africa Program Services Exhibitions 2084 Europe (Including Iceland and Greenland) Program Services Marketing/Public Relations 11953 North America (Canada & Mexico only) Program Services Marketing/Public Relations 1075 East Asia and the Pacific Program Services Member Travel 3929 Europe (Including Iceland and Greenland) Program Services Member Travel 30221 North America (Canada & Mexico only) Program Services Member Travel 1286 Sub-Saharan Africa Program Services Member Travel 4344 Central America and the Caribbean Program Services Recruiting 394 East Asia and the Pacific Program Services Recruiting 144799 Europe (Including Iceland and Greenland) Program Services Recruiting 14766 Middle East and North Africa Program Services Recruiting 7581 North America (Canada & Mexico only) Program Services Recruiting 29785 South Asia Program Services Recruiting 31673 South America Program Services Recruiting 4922 East Asia and the Pacific Program Services Research 3569 Europe (Including Iceland and Greenland) 1 Program Services Research 75259 North America (Canada & Mexico only) Program Services Research 4156 South Asia Program Services Research 6661 Sub-Saharan Africa Program Services Research 862 East Asia and the Pacific 1 Program Services Study Trips 40318 Europe (Including Iceland and Greenland) Program Services Study Trips 270588 South Asia Program Services Study Trips 52350 South America Program Services Study Trips 34125 Central America and the Caribbean ,Passive Investments N/A 288475285 Europe (Including Iceland and Greenland) ,Passive Investments N/A 153403 Middle East and North Africa Program Services CONF, LECTURES, OTHER EDUCATION 76 Middle East and North Africa Program Services Exhibitions 487 East Asia and the Pacific Program Services Marketing/Public Relations 160 Middle East and North Africa Program Services Marketing/Public Relations 28 South America Program Services Member Travel 178 South Asia Program Services Member Travel 4715 0 19 0 2 0 21 1082846 289391991 290474837 true false true true true false X X X X X X X true SD&A Teleservices Inc 5757 W Century Blvd Los Angeles CA 90045 Telemarketing false 95125 76484 18641 95125 76484 18641 CA CO DC FL AL IL KS KY AK MD MA MI MS NV NH NJ NY ND OH OK OR SC UT VA WA WI Woman's Board Peter Mariano 703215 663416 39799 0 0 0 165 0 78668 SAIC Beautiful Night 532095 169470 362625 0 0 270 47270 0 201926 11 1305392 1055869 249523 0 24612 16804 268793 283804 2540702 1888755 651947 0 24612 17074 316228 0 564398 922312 -270365 10265 8290 true 1.0 10265 8290 IL true false true false 0.5 0.5 CHRIS MURRAY 111 SOUTH MICHIGAN AVE CHICAGO IL 60603 false Dionne Smith 0 No employee is compensated as a gaming manager. Individuals listed as gaming manager on line 16 are responsible for the record-keeping of events that have a gaming component. X false 0 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 $47,420 AND $29,064 RESPECTIVELY.; true Faculty Enrichment Grants 74 116977 N/A N/A Student Scholarships and Stipends 3332 45634228 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 X false true false false false false false false true true James Rondeau President, Museum 655404 0 0 0 131643 0 52000 0 8690 0 847737 0 0 0 Elissa Tenny President, School 494950 0 0 0 106555 0 24300 0 12957 0 638762 0 0 0 Julia Getzels EVP & General Counsel 386712 0 0 0 91088 0 73000 0 28059 0 578859 0 0 0 Alison Sowden EVP & CFO-Ended 10/2017 288654 0 0 0 36906 0 24300 0 10148 0 360008 0 0 0 Deborah Johnston Controller-Ended 05/2018 213431 0 0 0 12914 0 19880 0 20394 0 266619 0 0 0 Alexandra Holt EVP, Finance & Admin-Start 04/2018 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Lisa Wainwright Dean of Faculty/VP Acad Admin 257152 0 0 0 1102 0 23798 0 24132 0 306184 0 0 0 Brian Esker VP of Finance & Admin, School 219311 0 0 0 18991 0 59000 0 13050 0 310352 0 0 0 Rose Milkowski VP for Enrollment Management 229971 0 0 0 502 0 20880 0 2885 0 254238 0 0 0 Thomas Buechele VP for Campus Operations, School 201058 0 0 0 1831 0 50000 0 27120 0 280009 0 0 0 Evelyn Jeffers VP for Museum Development 503980 0 0 0 57000 0 24300 0 24592 0 609872 0 0 0 Michael Nicolai Chief Human Resources Officer 200940 0 0 0 21036 0 35000 0 31967 0 288943 0 0 0 Andrew Simnick Sr VP for Finance, Strategy, & Ops 265096 0 0 0 239 0 23531 0 27794 0 316660 0 0 0 Sarah Guernsey Deputy Director, Curatorial Affairs 235486 0 0 0 1374 0 57000 0 25643 0 319503 0 0 0 Craig Barton Provost 281209 0 0 0 2845 0 20344 0 16637 0 321035 0 0 0 Kirstie Lytwynec VP and General Manager, Retail 248931 0 0 0 364 0 21727 0 10510 0 281532 0 0 0 Russell Collett VP of Operations 194039 0 0 0 760 0 17753 0 4259 0 216811 0 0 0 Ann Goldstein Deputy Director, Chair & Curator Modern & Contemporary Art 297830 0 0 0 4000 0 20339 0 17538 0 339707 0 0 0 Eugene Adams Chief Information Officer 201275 0 0 0 20125 0 68000 0 31100 0 320500 0 0 0 Paul Coffey Vice Provost 206433 0 0 0 2223 0 54000 0 27378 0 290034 0 0 0 Tao Wang Chair of Asian Art/Executive Director Initiatives in Asia 189226 0 0 0 18835 0 18250 0 12000 0 238311 0 0 0 Felice Dublon VP/Dean of Student Affairs 182420 0 0 0 18581 0 17807 0 19582 0 238390 0 0 0 Walter Massey Chancellor, Former President, SAIC 219910 0 0 0 31307 0 24758 0 12 0 275987 0 0 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. Additionally, the Deputy Director, Chair & Curator of Modern & Contemporary Art received a one-time housing allowance of $2000 which was 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 4b Supplemental nonqualified retirement plan As noted in page 25 of 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 2017 of $112,029 Walter Massey amount paid in calendar year 2017 of $13,307 Julia E. Getzels amount paid in calendar year 2017 of $71,211 Elissa Tenny amount paid in calendar year 2017 of $12,558 Eve Jeffers amount paid in calendar year 2017 of $36,038 Alison Sowden amount paid in calendar year 2017 of $18,668 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 under contracts that were subject to the initial contract exception. A Illinois Finance Authority 861091967 45200FVM8 2009-03-26 139158000 Construction/Renovation of Museum Facilities true false false B 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 C 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 false false false D Illinois Finance Authority 861091967 45204EHD3 2016-08-25 42808133 Advance refund Series 2009A Bonds issued 3/26/2009 false false false A 80000000 40000000 139158000 3061579 139158000 2009 false false true true B 60595000 113537854 5986 113531868 true true true true C 27130000 135000 66292422 66292422 false true true true D 42808133 42072026 4760 1242501 false true true true A false false false false 0.0 0.0 0.0 false false true B 0.0 C false false false false 0.0 0.0 0.0 false false true D false false false false 0.0 0.0 0.0 false false true A false false true false true false false true true B false false false true false false false false true C false false false true false false false false true D false true false false false false false false true A true B true C true D true Schedule K, Part II, Line 9 Column B This amount differs slightly from what was shown on the 8038 Form that was filed for the bonds. Schedule K, Part II, Line 11 Column B This amount differs slightly from what was shown on the 8038 Form that was filed for the bonds. Schedule K, Part IV, Line 2c Column B Based on the rebate computation completed on 7/24/2015, no rebate is due. Schedule K, Part IV, Line 3 Column A A portion of the Series 2009 Bonds were originally variable rate as shown on the 8038 Form; however, this variable rate portion has been refunded so the remaining bonds are fixed rate. Schedule K, Part IV, Line 6 Columns B & D This question is being answered without regard to yield-restricted advance refunding escrow financed with proceeds of the bonds. Schedule K, Part IV, Line 6 Column A Such amounts were appropriately yield-restricted. Schedule K, Part IV, Line 2c COLUMN B 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 C Issuer name: Illinois Finance Authority The calculation for computing no rebate due was performed on 10/18/2017 29430 Tuition Remission Tuition remission for a family member of an Officer Peter Haratonik Family Member of Elissa Tenny, Current Officer 23760 Employee Compensation false X 593 0 Other - See Part II X 28558 Market value X 173 10837372 Market value X Dept'l Supplies 24 32980 Market value X Special Events 52 35727 Market value X Furniture 1 41384 Market value 31 false true true Schedule M, Part I, Line 1 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, Line 32b Third parties used to solicit, process, or sell noncash contributions The Institute utilizes its investment custodian Northern Trust to receive and sell stock gifts made to the organization. Schedule M, Part I Explanations of reporting method for number of contributions Art - Works of art - Number of items contributed Securities - Publicly traded - Number of contributions received Other - Dept'l Supplies Number of items contributed Other - Special Events Number of items contributed Other - Furniture Number of contributions 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 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 2 Family/business relationships amongst interested persons Caryn Harris and Stephanie Field Harris - Family relationship, Walter Massey and Cary McMillan - Business relationship, Neil Bluhm and James Gordon - Business relationship, Sarah N. Garvey and Eric McKissack - Business relationship, Matthew R. Gibson and Thomas Pritzker - Business relationship, Kenneth Griffin and James Gordon - Business relationship, Adnaan Hamid and Prabhakant Sinha - Business relationship, Jay Frederick Krehbiel and David Vitale - Business relationship, Jay Frederick Krehbiel and Sam Mencoff - Business relationship, Robert Levy and Neil Bluhm - Business relationship, Thomas Pritzker and Cary McMillan - Business relationship, Shirley Welsh Ryan and Reeve Waud - Business relationship, Betsy Bergman Rosenfield and Andrew Rosenfield - Family relationship, A. Steven Crown and Louis B. Susman - Business relationship, Karen Gray-Krehbiel and Jay Frederick Krehbiel - Family relationship, Anne Reyes and J. Christopher Reyes - Family relationship, Anita Sinha and Prabhakant Sinha - Family relationship Form 990, Part VI, Line 4 Significant changes to organizational documents The Institute's by laws were amended on April 17, 2018. The material changes resulting from the amendment are as follows. First, the title for the position "Executive Vice President and Chief Financial Officer" was revised to "Executive Vice President for Finance and Administration." Second, the authority to nominate and select the two Executive Vice Presidents was revised. Whereas both were formerly nominated by the Executive Committee and elected by the Board, the revised bylaws state that the Executive Vice President, General Counsel, and Secretary is appointed by joint decision of the Chairman of the Board, the President and Director of the Museum, and the President of the School, and the Executive Vice President for Finance and Administration is appointed by joint decision of the President and Director of the Museum, and the President of the School. Third, the authority of the two Presidents to appoint Vice Presidents for Information Services and Human Resources was deleted since these two Vice President positions will now be appointed by the Executive Vice President for Finance and Administration. Fourth, the reporting for the Executive Vice President for Finance and Administration was revised so that the position reports solely to the two Presidents, and not to the Chairman of the Board. Fifth, a term was added stating that the two Presidents may give the Executive Vice President for Finance and Administration responsibility for functions that support the entire corporation, such as Information Services and Human Resources. 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 Genera'ls' 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 Various - Total Revenue: 4409819, Related or Exempt Function Revenue: 4409819, 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 - 5961125; Other - 1043; 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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