2019-10-03T08:02:05-05:00 2019-05-31 310905417 VONLEHMAN & COMPANY INC 810 WRIGHTS SUMMIT PARKWAY SUITE 300 FORT WRIGHT KY 410112993 990 2018-06-01 311601569 ART ACADEMY OF CINCINNATI ARTA 5135626262 1212 JACKSON STREET CINCINNATI OH 452027106 JOE GIRANDOLA PRESIDENT 5135626262 2019-10-02 1 KERRI L RICHARDSON P00636119 8593313300 69.61.206.123 2019-10-02 11:30:53 ED P 25DDF55F2060E598CFC9863F547F49E3C56987B1 2632B484EACE880A8399E290B2873BC56AC5B5A0 2018 2020-01-14 16:20:31Z JOE GIRANDOLA 1212 JACKSON STREET CINCINNATI OH 452027106 8627026 0 X WWW.ARTACADEMY.EDU X 1998 OH TO CREATE AND SUSTAIN RADICAL, FORWARD-THINKING, CONTEMPORARY VISUAL ARTISTS AND DESIGNERS WHOSE CREATIVE CONTRIBUTIONS MAKE A SUBSTANTIAL DIFFERENCE IN ALL THE LIVES THEY TOUCH. 22 0 185 43 0 0 728377 563194 5529342 6529737 100553 229785 39881 72633 6398153 7395349 1853693 2475196 0 0 2686116 2419630 0 0 266619 2114275 2455975 6654084 7350801 -255931 44548 6946724 6516209 1897594 1630835 5049130 4885374 OPERATE, MAINTAIN, AND OVERSEE AN INDEPENDENT COLLEGE OF ART AND DESIGN 0 0 6161790 2475196 6529737 OPERATE AN ACCREDITED POST-SECONDARY FINE ARTS EDUCATION FACILITY (ART ACADEMY) OFFERING CURRICULUM LEADING TO BACHELOR OF FINE ARTS DEGREE 6161790 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 0 1 0 0 0 0 1 1 0 0 0 1 121 0 1 185 1 0 0 0 0 0 0 0 0 0 0 0 0 X 22 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 OH X X X ANNA DOWELL 5135628779 1212 JACKSON STREET CINCINNATI OH 452027106 RONALD T BATES TRUSTEE 0.00 X 0 0 0 ROBERT CHAVEZ VICE CHAIR 0.00 X X 0 0 0 TYSONN BETTS CHAIR 5.00 5.00 X X 0 0 0 HARRY J FINKE IV TRUSTEE 0.00 X 0 0 0 HOWARD H MCILVAIN TRUSTEE 0.00 X 0 0 0 RICHARD FRIEDMAN TRUSTEE 0.00 X 0 0 0 MARK GROTE INTERIM PRESIDENT 35.00 15.00 X X 92500 0 0 TAMARA HARKAVY TRUSTEE 0.00 X 0 0 0 MARK PATSFALL TRUSTEE 0.00 X 0 0 0 GEORGE H HENSLER III TRUSTEE 0.00 X 0 0 0 DEBORAH SCOTT SECRETARY 0.00 X X 0 0 0 ANTHONY REISS TREASURER 0.00 X X 0 0 0 CRAIG SAREMBOCK TRUSTEE 0.00 X 0 0 0 HARVEY COHEN LEGAL COUNSEL 0.00 X X 0 0 0 ERIKA ALLEN STUDENT REPRESENTATIVE 0.00 X 0 0 0 JOHN COBEY TRUSTEE 0.00 X 0 0 0 CHRISTINE CARLI TRUSTEE 0.00 X 0 0 0 ABBY HORN TRUSTEE 0.00 X 0 0 0 RICHARD HOMAN TRUSTEE 0.00 X 0 0 0 DEBBIE KOKORUDA TRUSTEE 0.00 X 0 0 0 PAM KRAVETZ TRUSTEE 0.00 X 0 0 0 MARIA BEATRIZ RODRIGUEZ TRUSTEE 0.00 X 0 0 0 DANIEL SCHLOEMER TRUSTEE 0.00 X 0 0 0 MITCHELL SIPUS TRUSTEE 0.00 X 0 0 0 JACQUELYN SOMMER TRUSTEE 0.00 X 0 0 0 JOHN SULLIVAN PRESIDENT 35.00 15.00 X 279495 0 1211 ANNA DOWELL CFO 35.00 15.00 X 85000 0 268 PAIGE WILLIAMS ACADEMIC DEAN 35.00 15.00 X 68245 0 8002 525240 0 9481 1 0 1 0 ALLIED UNIVERSAL SECURITY SERVICES PO BOX 828854 PHILADELPHIA PA 19182 SECURITY 157296 3CDC DBA 1200 VINE LLC 1203 WALNUT STREET SUITE 400 CINCINNATI OH 45202 RENTAL 126510 URBAN SITES PROPERTY MANAGEMENT LLC 1209 SYCAMORE STREET CINCINNATI OH 45202 PROPERTY MANAGEMENT 111346 3 563194 50268 563194 TUITION 900099 6529737 6529737 6529737 70218 70218 1248222 143022 1127700 103977 120522 39045 159567 159567 OTHER INCOME 900099 72633 72633 72633 7395349 6529737 0 302418 2475196 2475196 2071434 1566703 427528 77203 181549 94140 82642 4767 166647 84043 77303 5301 10630 10630 223228 208713 14515 28538 28538 89282 88829 4 449 30793 30331 308 154 137409 135219 1460 730 41137 30777 10360 PURCHASED SERVICES 623227 429020 138485 55722 UTILITIES 252687 252687 SUPPLIES 192838 96536 7701 88601 EQUIPMENT MAINTENANCE & 174796 152020 22306 470 651410 489038 143665 18707 7350801 6161790 922392 266619 116509 150021 400000 387500 295455 218679 58281 57563 153957 49980 88895 86722 5335157 2157709 3334269 3177448 2280785 2182028 218573 206268 6946724 6516209 487319 384175 400000 360000 1008437 885519 1838 1141 1897594 1630835 X 3085867 2910400 542974 561908 1420289 1413066 5049130 4885374 6946724 6516209 X 44548 -177284 -31020 X X 0 1 X 1 1 1 X X X X 0 2145986 5000 1478 91440 2061024 1837132 318622 170705 180473 2145986 1671635 1707 186395 22605 1837132 1623523 102793 -46769 7912 1671635 1531377 100015 7869 1623523 0.25000 0.59000 0.16000 0 0 211775 211775 3934341 984574 2949767 48846 38135 10711 1140195 1135000 5195 3177448 BENEFICIAL INTEREST IN CHARITABLE TRUST 1141 1141 X 7195827 -177284 -11608 -188892 7384719 10630 10630 7395349 7340171 0 7340171 10630 10630 7350801 PART III, LINE 1A: THE COLLECTIONS ARE MADE UP OF ART OBJECTS THAT ARE HELD FOR PUBLIC EXHIBITION, EDUCATION AND RESEARCH FOR FURTHERANCE OF PUBLIC SERVICE. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED. CONTRIBUTED COLLECTION ITEMS ARE NOT REFLECTED ON THE CONSOLIDATED FINANCIAL STATEMENTS. PROCEEDS FROM SALES OR INSURANCE RECOVERIES ARE REFLECTED AS INCREASES IN TEMPORARILY RESTRICTED NET ASSETS. THE ART INVENTORY IS MADE UP OF ART OBJECTS THAT HAVE BEEN ACQUIRED THROUGH DONATIONS. ART INVENTORY IS RECORDED AT 60% OF APPRAISED VALUE. PART III, LINE 4: EACH OF THE ITEMS IS CATALOGED, PRESERVED AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. THE COLLECTIONS ARE SUBJECT TO A POLICY THAT REQUIRES PROCEEDS FROM THEIR SALES TO BE USED TO ACQUIRE OTHER ITEMS FOR COLLECTIONS. PART X, LINE 2: THE ART ACADEMY OF CINCINNATI AND AFFILIATE HAVE ADOPTED THE PROVISIONS OF THE ACCOUNTING PRONOUNCEMENT RELATED TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE ART ACADEMY OF CINCINNATI AND AFFILIATE RECOGNIZED NO INTEREST OR PENALTIES IN THE CONSOLIDATED STATEMENTS OF ACTIVITIES FOR THE YEARS ENDED MAY 31, 2019 AND 2018. IF THE SITUATION AROSE IN WHICH THE ART ACADEMY OF CINCINNATI AND AFFILIATE WOULD HAVE INTEREST TO RECOGNIZE, IT WOULD RECOGNIZE THIS AS INTEREST EXPENSE AND PENALTIES WOULD BE RECOGNIZED IN OTHER EXPENSES. CURRENTLY, THE PRIOR THREE YEARS ARE OPEN UNDER FEDERAL AND STATE STATUTES OF LIMITATIONS AND REMAIN SUBJECT TO REVIEW AND CHANGE. THE ACADEMY IS NOT CURRENTLY UNDER AUDIT NOR HAS THE ACADEMY BEEN CONTACTED BY THESE JURISDICTIONS. BASED ON THE EVALUATION OF THE ART ACADEMY OF CINCINNATI AND AFFILIATE'S TAX POSITIONS, MANAGEMENT BELIEVES ALL POSITIONS TAKEN WOULD BE UPHELD UNDER AN EXAMINATION. THEREFORE, NO PROVISION FOR THE EFFECTS OF UNCERTAIN TAX POSITIONS HAS BEEN RECORDED FOR EITHER OF THE YEARS ENDED MAY 31, 2019 OR 2018. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN BENEFICIAL INTERESTS -11,608. FORM 990, PAGE 12, PART XI, LINE 9 THERE WAS A TRANSFER OF LAND AND BUILDINGS DURING 2011. THE ASSETS HAVE A DIFFERENT NET BOOK VALUE FOR FINANCIAL STATEMENTS AND TAX RETURN PURPOSES UPON THE TRANSFER. DETAILS ARE AS FOLLOWS: PER FINANCIAL STATEMENTS: LAND 89,170 BUILDING 3,619,444 TOTAL COST 3,708,614 PER 990: LAND 211,775 BUILDING 3,934,341 TOTAL 4,146,116 DIFFERENCE: 437,502 PER FINANICAL STATEMENTS: ACCUMULATED DEPRECIATION 700,538 PER 990: ACCUMULATED DEPRECIATION 984,575 DIFFERENCE: 284,037 TOTAL NBV DIFFERENCE: 153,465 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 ART ACADEMY OF CINCINNATI PUBLISHES ITS RACIALLY NONDISCRIMINATORY POLICY ON THEIR WEBSITE. SCHEDULE E, PART I, LINE 6 THE ART ACADEMY OF CINCINNATI RECEIVES STATE AND CITY GRANTS FOR CAPITAL IMPROVEMENTS. 1 SCHOLARSHIPS 207 2475196 PART I, LINE 2: SCHOLARSHIPS ARE MONITORED BY REGISTRAR AND FINANCIAL AID OFFICE AND THE FINANCE OFFICE FOR GPA REQUIREMENTS, ENROLLMENT REQUIREMENTS AND OTHER ISSUES. REVIEWS ARE DONE REGULARLY. 1 0 0 0 0 0 0 0 0 JOHN SULLIVAN PRESIDENT 279495 0 0 0 0 0 0 0 1211 0 280706 0 0 0 PART I, LINE 4A JOHN SULLIVAN $75,480.75 MARK GROTE INTERIM PRESIDENT 102500 CONSULTING 0 X 2 50268 FMV 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY STAFF FOR ACCURACY THEN FORWARDED TO THE MEMBERS OF THE FINANCE COMMITTEE FOR EXAMINATION. IT IS SENT TO THE FINANCE COMMITTEE VIA ELECTRONIC FORMAT OR MAILED THROUGH THE POSTAL SYSTEM. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED TO ALL NEW TRUSTEES, OFFICERS AND EMPLOYEES. THE POLICY CLEARLY EXPLAINS THE DUTY TO REPORT ANY SUSPECTED VIOLATIONS AND THE PROCEDURES TO FOLLOW. THE ANNUAL ACKNOWLEDGEMENT AND DISCLOSURE STATEMENT IS TO BE SIGNED AND RETURNED TO THE FINANCE OFFICE. FORM 990, PART VI, SECTION B, LINE 15 THE CEO/PRESIDENT COMPENSATION IS REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES OR INDIVIDUAL(S) AUTHORIZED BY THE BOARD. DATA ON COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS ALONG WITH PERFORMANCE REVIEWS ARE USED TO DETERMINE COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE ON THE ART ACADEMY'S WEBSITE AT WWW.ARTACADEMY.EDU. AND PER REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN BENEFICIAL INTEREST IN REMAINDER TRUST -4,385. CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUST -7,223. BOOK/990 DIFF IN CY DEPRECIATION ON ASSETS TRANSFERRED FROM RELATED ENTITY 153,465. BOOK/990 BEGINNING BALANCE ADJUSTMENT TO FIXED ASSETS -172,877. PART XII, LINE 2C: THE OVERSIGHT PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. ART ACADEMY HOUSING INC 1212 JACKSON ST CINCINNATI OH 45202 205149610 STUDENT HOUSING OH 501(C)(3) 170(B)(1)(A)(II) ART ACADEMY OF CINCINNATI 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ART ACADEMY HOUSING INC D 57563 FMV