ART INSTITUTE OF CHICAGO: Form 990, tax year 2013

View the entire original 990 at ProPublica ↗

Organization
ART INSTITUTE OF CHICAGO (EIN 36-2167725)
Tax period
2013-07-01 to 2014-06-30
Filed
2015-05-13
IRS object ID
201541339349303674
Schema version
2013v4.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2015-05-13T12:18:17-07:00ReturnTs
Tax Period End2014-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1DELOITTE TAX LLPBusinessNameLine1

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1111 SOUTH WACKER DRIVEAddressLine1
CityCHICAGOCity
StateILState
ZIP Code606064301ZIPCode
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2013-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN362167725EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1The Art Institute of ChicagoBusinessNameLine1
FieldValueIRS element (for citing)
Business Name ControlARTIBusinessNameControlTxt
Phone3124433600PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1111 South Michigan AvenueAddressLine1
CityChicagoCity
StateILState
ZIP Code60603ZIPCode

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonAlison SowdenPersonNm
Person TitleCFOPersonTitleTxt
Signature2015-05-13SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonDELOITTE TAX LLPPreparerPersonNm
PTINP00855604PTIN
Phone3124861000PhoneNum
FieldValueIRS element (for citing)
Tax2013TaxYr
Build TS2016-02-25 16:41:14ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Gross Receipts$380,062,453GrossReceiptsAmt
Group Return For AffiliatesfalseGroupReturnForAffiliatesInd
All Affiliates IncludedfalseAllAffiliatesIncludedInd
Organization501c3Yes (X)Organization501c3Ind
Website Addresswww.artic.edu and www.saic.eduWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation1879FormationYr
Legal Domicile StateILLegalDomicileStateCd
Activity Or MissionTo found, build, maintain and operate museums, schools, and libraries of art and theatres.ActivityOrMissionDesc
Voting Members Governing Body53VotingMembersGoverningBodyCnt
Voting Members Independent50VotingMembersIndependentCnt
Total Employee3543TotalEmployeeCnt
Total Volunteers630TotalVolunteersCnt
Total Gross UBI$1,314,844TotalGrossUBIAmt
PY Contributions Grants$51,730,267PYContributionsGrantsAmt
CY Contributions Grants$81,911,392CYContributionsGrantsAmt
PY Program Service Revenue$160,195,800PYProgramServiceRevenueAmt
CY Program Service Revenue$183,269,958CYProgramServiceRevenueAmt
PY Investment Income$30,193,556PYInvestmentIncomeAmt
CY Investment Income$37,657,861CYInvestmentIncomeAmt
PY Other Revenue$11,212,380PYOtherRevenueAmt
CY Other Revenue$12,502,616CYOtherRevenueAmt
PY Total Revenue$253,332,003PYTotalRevenueAmt
CY Total Revenue$315,341,827CYTotalRevenueAmt
PY Grants And Similar Paid$33,742,816PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$35,470,652CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$110,513,140PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$104,927,088CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$181,458PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$126,228CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$6,940,199CYTotalFundraisingExpenseAmt
PY Other Expenses$125,813,293PYOtherExpensesAmt
CY Other Expenses$128,743,586CYOtherExpensesAmt
PY Total Expenses$270,250,707PYTotalExpensesAmt
CY Total Expenses$269,267,554CYTotalExpensesAmt
PY Revenues Less Expenses-$16,918,704PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$46,074,273CYRevenuesLessExpensesAmt
Total Assets BOY$1,404,559,396TotalAssetsBOYAmt
Total Assets EOY$1,542,543,535TotalAssetsEOYAmt
Total Liabilities BOY$367,523,557TotalLiabilitiesBOYAmt
Total Liabilities EOY$349,184,034TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$1,037,035,839NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$1,193,359,501NetAssetsOrFundBalancesEOYAmt
MissionThe Art Institute of Chicago's primary exempt purpose is 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.MissionDesc
Significant New Program SrvcfalseSignificantNewProgramSrvcInd
Significant ChangefalseSignificantChangeInd
Expense$138,551,765ExpenseAmt
Grant$35,470,652GrantAmt
Revenue$146,879,965RevenueAmt
DescThe School of the Art Institute is an accredited post-secondary institution of higher learning which provides both graduate and undergraduate study. This curriculum provides for the preparation of visual artists, teachers of art, designers and others in areas that include written, spoken, and media formats. Overall average academic year full-time-equivalent enrollment of degree-seeking students was 2,963. The curriculum has attracted students from over 50 countries.Desc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

FieldValueIRS element (for citing)
Expense$100,707,946ExpenseAmt
Revenue$43,374,181RevenueAmt
DescThe Museum provides a variety of educational programs focusing on the collection, conservation, research, publication, exhibition, and interpretation of the museum's internationally significant permanent collection of art. The museum also presents temporary exhibitions of international importance, which include loaned objects from other collections. Among the exhibitions included in our fiscal year 2014 programming were the following: Impressionism, Fashion and Modernity; Violence and Virtue: Artemisia Gentileschis Judith Slaying Holofernes; Art and Appetite: Culture and Cuisine; and Christopher Williams: The Production Line of Happiness. During FY2014, the museum served 1.4 million visitors.Desc
FieldValueIRS element (for citing)
Total Program Service Expenses$239,259,711TotalProgramServiceExpensesAmt
Described In Section501c3Yes (true)DescribedInSection501c3Ind
Schedule B RequiredYes (true)ScheduleBRequiredInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Lobbying ActivitiesYes (true)LobbyingActivitiesInd
Subject To Proxy TaxfalseSubjectToProxyTaxInd
Donor Advised FundfalseDonorAdvisedFundInd
Conservation EasementsfalseConservationEasementsInd
Collections Of ArtYes (true)CollectionsOfArtInd
Credit CounselingfalseCreditCounselingInd
Temp Or Permanent EndowmentsYes (true)TempOrPermanentEndowmentsInd
Report Land Building EquipmentYes (true)ReportLandBuildingEquipmentInd
Report Investments Other SecYes (true)ReportInvestmentsOtherSecInd
Report Program Related InvstfalseReportProgramRelatedInvstInd
Report Other AssetsfalseReportOtherAssetsInd
Report Other LiabilitiesYes (true)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (true)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (true)IndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtfalseConsolidatedAuditFinclStmtInd
School OperatingYes (true)SchoolOperatingInd
Foreign OfficefalseForeignOfficeInd
Foreign ActivitiesYes (true)ForeignActivitiesInd
More Than5000 K To OrgfalseMoreThan5000KToOrgInd
More Than5000 K To IndividualsfalseMoreThan5000KToIndividualsInd
Professional FundraisingYes (true)ProfessionalFundraisingInd
Fundraising ActivitiesYes (true)FundraisingActivitiesInd
Gaming ActivitiesYes (true)GamingActivitiesInd
Operate HospitalfalseOperateHospitalInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Grants To IndividualsYes (true)GrantsToIndividualsInd
Schedule J RequiredYes (true)ScheduleJRequiredInd
Tax Exempt BondsYes (true)TaxExemptBondsInd
Invest Tax Exempt BondsfalseInvestTaxExemptBondsInd
Escrow AccountfalseEscrowAccountInd
On Behalf Of IssuerfalseOnBehalfOfIssuerInd
Engaged In Excess Benefit TransfalseEngagedInExcessBenefitTransInd
PY Excess Benefit TransfalsePYExcessBenefitTransInd
Loan OutstandingfalseLoanOutstandingInd
Grant To Related PersonfalseGrantToRelatedPersonInd
Business Rln With Org MemfalseBusinessRlnWithOrgMemInd
Business Rln With Fam MemfalseBusinessRlnWithFamMemInd
Business Rln With Officer EntYes (true)BusinessRlnWithOfficerEntInd
Deductible Non Cash ContriYes (true)DeductibleNonCashContriInd
Deductible Art ContributionYes (true)DeductibleArtContributionInd
Terminate OperationsfalseTerminateOperationsInd
Partial LiquidationfalsePartialLiquidationInd
Disregarded EntityYes (true)DisregardedEntityInd
Related EntityYes (true)RelatedEntityInd
Related Organization Ctrl EntYes (true)RelatedOrganizationCtrlEntInd
Transaction With Control EntYes (true)TransactionWithControlEntInd
Trnsfr Exmpt Non Chrtbl Rltd OrgfalseTrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted PrtshpfalseActivitiesConductedPrtshpInd
Schedule O RequiredYes (true)ScheduleORequiredInd
IRP Document793IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (true)BackupWthldComplianceInd
Employee3543EmployeeCnt
Employment Tax Returns FiledYes (true)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over LimitYes (true)UnrelatedBusIncmOverLimitInd
Foreign Financial AccountfalseForeignFinancialAccountInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Taxable Party NotificationfalseTaxablePartyNotificationInd
Nondeductible ContributionsfalseNondeductibleContributionsInd
Quid Pro Quo ContributionsYes (true)QuidProQuoContributionsInd
Quid Pro Quo Contri DisclYes (true)QuidProQuoContriDisclInd
Form8282 Property Disposed OffalseForm8282PropertyDisposedOfInd
Form8282 Filed0Form8282FiledCnt
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Form8899 FiledindfalseForm8899Filedind
Form1098 C FiledfalseForm1098CFiledInd
Excess Business HoldingsfalseExcessBusinessHoldingsInd
Taxable DistributionsfalseTaxableDistributionsInd
Distribution To DonorfalseDistributionToDonorInd
Org Filed In Lieu Of Form1041falseOrgFiledInLieuOfForm1041Ind
Licensed More Than One StatefalseLicensedMoreThanOneStateInd
Indoor Tanning ServicesfalseIndoorTanningServicesInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members53GoverningBodyVotingMembersCnt
Independent Voting Member50IndependentVotingMemberCnt
Family Or Business RlnYes (true)FamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesfalseDelegationOfMgmtDutiesInd
Change To Org DocumentsfalseChangeToOrgDocumentsInd
Material Diversion Or MisusefalseMaterialDiversionOrMisuseInd
Members Or StockholdersfalseMembersOrStockholdersInd
Election Of Board MembersfalseElectionOfBoardMembersInd
Decisions Subject To ApprovafalseDecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (true)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (true)MinutesOfCommitteesInd
Officer Mailing AddressfalseOfficerMailingAddressInd
Local ChaptersfalseLocalChaptersInd
Form990 Provided To Gvrn BodyfalseForm990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (true)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (true)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (true)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (true)WhistleblowerPolicyInd
Document Retention PolicyfalseDocumentRetentionPolicyInd
Compensation Process CEOYes (true)CompensationProcessCEOInd
Compensation Process OtherYes (true)CompensationProcessOtherInd
Investment In Joint VenturefalseInvestmentInJointVentureInd
Own WebsiteYes (X)OwnWebsiteInd
Other WebsiteYes (X)OtherWebsiteInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonAlison SowdenPersonNm
Phone3124994263PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1111 South Michigan AvenueAddressLine1
CityChicagoCity
StateILState
ZIP Code60603ZIPCode

Form990 Part VII Section A Form990PartVIISectionAGrp (73 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtAverage Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtOfficerOfficerIndKey EmployeeKeyEmployeeIndHighest Compensated EmployeeHighestCompensatedEmployeeIndFormer Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd
Anne Searle Bent
Trustee1.000.00Yes (X)$0$0$0
Linda Buonanno
Trustee1.000.00Yes (X)$0$0$0
Todd C Brown
Trustee1.000.00Yes (X)$0$0$0
Lester N Coney
Trustee1.000.00Yes (X)$0$0$0
A Steven Crown
Trustee1.000.00Yes (X)$0$0$0
William M Daley
Trustee1.000.00Yes (X)$0$0$0
Shawn M Donnelley
Trustee1.000.00Yes (X)$0$0$0
Janet Duchossois
Trustee1.000.00Yes (X)$0$0$0
John A Edwardson
Trustee1.000.00Yes (X)$0$0$0
Fred Eychaner
Trustee1.000.00Yes (X)$0$0$0
Denise B Gardner
Trustee1.000.00Yes (X)$0$0$0
Sarah Nava Garvey
Trustee1.000.00Yes (X)$0$0$0
Matthew R Gibson
Trustee1.000.00Yes (X)$0$0$0
James A Gordon
Trustee1.000.00Yes (X)$0$0$0
Kenneth C Griffin
Trustee1.000.00Yes (X)$0$0$0
Joseph P Gromacki
Trustee1.000.00Yes (X)$0$0$0
Ann Grube
Trustee1.000.00Yes (X)$0$0$0
Caryn Harris
Trustee1.000.00Yes (X)$0$0$0
John W Jordan II
Trustee1.000.00Yes (X)$0$0$0
Pamela Joyner
Trustee1.000.00Yes (X)$0$0$0
Rita Knox
Trustee1.000.00Yes (X)$0$0$0
Jay Krehbiel
Trustee1.000.00Yes (X)$0$0$0
Eric P Lefkofsky
Trustee1.000.00Yes (X)$0$0$0
Lawrence F Levy
Trustee1.000.00Yes (X)$0$0$0
Robert M Levy
Trustee1.000.00Yes (X)$0$0$0
Timothy Maloney
Trustee1.000.00Yes (X)$0$0$0
John Manley
Trustee1.000.00Yes (X)$0$0$0
Joseph Mansueto
Trustee1.000.00Yes (X)$0$0$0
Nancy Lauter McDougal
Trustee1.000.00Yes (X)$0$0$0
Eric T McKissack
Trustee1.000.00Yes (X)$0$0$0
Cary D McMillan
Trustee1.000.00Yes (X)$0$0$0
Samuel M Mencoff
Trustee1.000.00Yes (X)$0$0$0
Sylvia Neil
Trustee1.000.00Yes (X)$0$0$0
Dustin O'Regan
Trustee1.000.00Yes (X)$0$0$0
Cynthia Perucca
Trustee1.000.00Yes (X)$0$0$0
Anne Pramaggiore
Chairman1.000.00Yes (X)$0$0$0
Thomas J Pritzker
Trustee1.000.00Yes (X)$0$0$0
Mark Pu
Trustee1.000.00Yes (X)$0$0$0
J Christopher Reyes
Trustee1.000.00Yes (X)$0$0$0
Linda Johnson Rice
Trustee1.000.00Yes (X)$0$0$0
Andrew M Rosenfield
Trustee1.000.00Yes (X)$0$0$0
Michael Sacks
Trustee1.000.00Yes (X)$0$0$0
Stephanie Sick
Trustee1.000.00Yes (X)$0$0$0
Prabhakant Sinha
Trustee1.000.00Yes (X)$0$0$0
Edward Byron Smith Jr
Trustee1.000.00Yes (X)$0$0$0
Melinda Martin Sullivan
Trustee1.000.00Yes (X)$0$0$0
Rebecca Ford Terry
Trustee1.000.00Yes (X)$0$0$0
Marilynn Thoma
Trustee1.000.00Yes (X)$0$0$0
Byron D Trott
Trustee1.000.00Yes (X)$0$0$0
David J Vitale
Trustee1.000.00Yes (X)$0$0$0
Frederick H Waddell
Trustee1.000.00Yes (X)$0$0$0
David Weinberg
Trustee1.000.00Yes (X)$0$0$0
Roger Weston
Trustee1.000.00Yes (X)$0$0$0
Douglas Druick
Pres & Dir, Mus40.000.00$623,988$0$137,416Yes (X)
Julia Getzels
EVP & Gen Couns40.000.00$353,278$0$68,898Yes (X)
Eric Anyah
EVP & CFO40.000.00$251,157$0$74,775Yes (X)
Patricia Lawson
Controller40.000.00$179,189$0$64,895Yes (X)
Alison Sowden
EVP & CFO40.000.00$0$0$0Yes (X)
Walter Massey
President, Sch40.000.00$538,427$0$23,915Yes (X)
David Thurm
COO Museum40.000.00$437,552$0$45,261Yes (X)
Elissa Tenny
Provost/SVP Acad Affairs40.000.00$309,228$0$58,246Yes (X)
Elizabeth Grainer
VP of Aux Ops40.000.00$189,546$0$64,757Yes (X)
Lisa Wainwright
Faculty Dean/VP Acad Admin40.000.00$214,955$0$36,491Yes (X)
Rose Milkowski
VP for Enrollment Mgmt40.000.00$181,896$0$18,976Yes (X)
Brian Esker
VP of Finance and Admin SAIC40.000.00$207,403$0$38,811Yes (X)
Tom Buechele
VP for Campus Operations40.000.00$179,348$0$50,601Yes (X)
Martha Tedeschi
Deputy Director for Art & Research40.000.00$163,492$0$105,238Yes (X)
Gordon Montgomery
VP of Marketing40.000.00$263,570$0$48,419Yes (X)
Eugene Adams
VP of IS/CIO40.000.00$201,407$0$58,589Yes (X)
Felice Dublon
VP/Dean StdAffairs40.000.00$183,308$0$25,275Yes (X)
Samuel Quigley
VP, CMIIT40.000.00$184,899$0$39,039Yes (X)
Paul Coffey
Vice Provost40.000.00$181,173$0$35,012Yes (X)
Edward McNulty
Sr VP/Planning/COO40.000.00$157,007$0$0Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$5,000,823TotalReportableCompFromOrgAmt
Total Other Compensation$994,614TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K98IndivRcvdGreaterThan100KCnt
Former Ofcr Employees ListedYes (true)FormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (true)TotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (5 entries)

Address Line1ContractorAddress/USAddress/AddressLine1CityContractorAddress/USAddress/CityStateContractorAddress/USAddress/StateZIP CodeContractorAddress/USAddress/ZIPCodeServicesServicesDescCompensationCompensationAmt
US Equities Asset Mgmt LLC
20 N Michigan Ave 400ChicagoIL60602Bldg Maint Services$1,661,232
Twin Eagle Management
8847 S Sam Houston Parkway NHoustonTX77040Environmental Servic$1,486,876
Bulley & Andrews LLC
1755 W ArmitageChicagoIL60622Bldg Maint Services$963,979
TriMark Marlinn LLC
P O Box CH1731PalantineIL600557131Design Services$643,791
Ragnar Benson
250 S Northwest HwyPark RidgeIL60068Construction Service$364,414
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K17CntrctRcvdGreaterThan100KCnt
Membership Dues$12,720,913MembershipDuesAmt
Fundraising$3,410,906FundraisingAmt
Government Grants$6,934,652GovernmentGrantsAmt
All Other Contributions$58,844,921AllOtherContributionsAmt
Noncash Contributions$6,496,070NoncashContributionsAmt
Total Contributions$81,911,392TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (5 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
Exhib. Loan/Particip Fees900099$2,662,568$2,662,568
Museum Admissions900099$12,958,955$12,958,955
Other Restricted Prog Rev900099$1,792,074$1,792,074
Proceeds from Sale of Art900099$16,980,748$16,980,748
Tuition and Fees611600$143,545,848$143,545,848

Total Oth Program Service Rev TotalOthProgramServiceRevGrp

FieldValueIRS element (for citing)
Total Revenue Column$5,329,765TotalRevenueColumnAmt
Related Or Exempt Func Income$5,329,765RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Total Program Service Revenue$183,269,958TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$6,718,207TotalRevenueColumnAmt
Exclusion$6,718,207ExclusionAmt

Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp

FieldValueIRS element (for citing)
Total Revenue Column$0TotalRevenueColumnAmt

Royalties Revenue RoyaltiesRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$264,662TotalRevenueColumnAmt
Exclusion$264,662ExclusionAmt

Gross Rents GrossRentsGrp

FieldValueIRS element (for citing)
Real$2,748,788RealAmt

Less Rental Expenses LessRentalExpensesGrp

FieldValueIRS element (for citing)
Real$1,099,001RealAmt

Rental Income Or Loss RentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Real$1,649,787RealAmt

Net Rental Income Or Loss NetRentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Total Revenue Column$1,649,787TotalRevenueColumnAmt
Unrelated Business Revenue$129,572UnrelatedBusinessRevenueAmt
Exclusion$1,520,215ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

FieldValueIRS element (for citing)
Securities$83,883,157SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

FieldValueIRS element (for citing)
Securities$52,943,503SecuritiesAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Securities$30,939,654SecuritiesAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

FieldValueIRS element (for citing)
Total Revenue Column$30,939,654TotalRevenueColumnAmt
Exclusion$30,939,654ExclusionAmt
FieldValueIRS element (for citing)
Fundraising Gross Income$735,250FundraisingGrossIncomeAmt
Contri Rpt Fundraising Event$3,411,585ContriRptFundraisingEventAmt
Fundraising Direct Expenses$1,942,402FundraisingDirectExpensesAmt

Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp

FieldValueIRS element (for citing)
Total Revenue Column-$1,207,152TotalRevenueColumnAmt
Exclusion-$1,207,152ExclusionAmt
FieldValueIRS element (for citing)
Gaming Gross Income$19,535GamingGrossIncomeAmt
Gaming Direct Expenses$28,145GamingDirectExpensesAmt

Net Income From Gaming NetIncomeFromGamingGrp

FieldValueIRS element (for citing)
Total Revenue Column-$8,610TotalRevenueColumnAmt
Exclusion-$8,610ExclusionAmt
FieldValueIRS element (for citing)
Gross Sales Of Inventory$16,877,035GrossSalesOfInventoryAmt
Cost Of Goods Sold$8,707,575CostOfGoodsSoldAmt

Net Income Or Loss NetIncomeOrLossGrp

FieldValueIRS element (for citing)
Total Revenue Column$8,169,460TotalRevenueColumnAmt
Related Or Exempt Func Income$6,984,188RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$1,185,272UnrelatedBusinessRevenueAmt

Other Revenue Misc OtherRevenueMiscGrp

FieldValueIRS element (for citing)
DescOther Invest. Inc (Loss)Desc
Business900099BusinessCd
Total Revenue Column$3,634,469TotalRevenueColumnAmt
Exclusion$3,634,469ExclusionAmt
FieldValueIRS element (for citing)
Other Revenue Total$3,634,469OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$315,341,827TotalRevenueColumnAmt
Related Or Exempt Func Income$190,254,146RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$1,314,844UnrelatedBusinessRevenueAmt
Exclusion$41,861,445ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

FieldValueIRS element (for citing)
Total$35,470,652TotalAmt
Program Services$35,470,652ProgramServicesAmt

Foreign Grants ForeignGrantsGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Benefits To Members BenefitsToMembersGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$4,630,705TotalAmt
Program Services$2,902,347ProgramServicesAmt
Management And General$1,728,358ManagementAndGeneralAmt

Comp Disqual Persons CompDisqualPersonsGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$78,669,258TotalAmt
Program Services$66,790,858ProgramServicesAmt
Management And General$8,328,244ManagementAndGeneralAmt
Fundraising$3,550,156FundraisingAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$2,626,245TotalAmt
Program Services$2,003,469ProgramServicesAmt
Management And General$431,637ManagementAndGeneralAmt
Fundraising$191,139FundraisingAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$13,373,774TotalAmt
Program Services$11,164,398ProgramServicesAmt
Management And General$1,616,305ManagementAndGeneralAmt
Fundraising$593,071FundraisingAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$5,627,106TotalAmt
Program Services$4,731,759ProgramServicesAmt
Management And General$655,355ManagementAndGeneralAmt
Fundraising$239,992FundraisingAmt

Fees For Services Management FeesForServicesManagementGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$286,970TotalAmt
Management And General$286,970ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$398,630TotalAmt
Management And General$398,630ManagementAndGeneralAmt

Fees For Services Lobbying FeesForServicesLobbyingGrp

FieldValueIRS element (for citing)
Total$13,568TotalAmt
Program Services$13,568ProgramServicesAmt

Fees For Services Prof Fundraising FeesForServicesProfFundraising

FieldValueIRS element (for citing)
Total$126,228TotalAmt
Fundraising$126,228FundraisingAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

FieldValueIRS element (for citing)
Total$2,657,950TotalAmt
Management And General$2,657,950ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$15,538,471TotalAmt
Program Services$13,799,247ProgramServicesAmt
Management And General$828,910ManagementAndGeneralAmt
Fundraising$910,314FundraisingAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$2,656,580TotalAmt
Program Services$2,590,627ProgramServicesAmt
Fundraising$65,953FundraisingAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$10,457,006TotalAmt
Program Services$9,363,067ProgramServicesAmt
Management And General$324,939ManagementAndGeneralAmt
Fundraising$769,000FundraisingAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$2,322,109TotalAmt
Program Services$1,438,177ProgramServicesAmt
Management And General$854,860ManagementAndGeneralAmt
Fundraising$29,072FundraisingAmt

Royalties RoyaltiesGrp

FieldValueIRS element (for citing)
Total$183,479TotalAmt
Program Services$183,479ProgramServicesAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$20,798,357TotalAmt
Program Services$19,936,519ProgramServicesAmt
Management And General$741,090ManagementAndGeneralAmt
Fundraising$120,748FundraisingAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$3,399,963TotalAmt
Program Services$3,187,825ProgramServicesAmt
Management And General$50,018ManagementAndGeneralAmt
Fundraising$162,120FundraisingAmt

Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$348,480TotalAmt
Program Services$250,380ProgramServicesAmt
Management And General$70,184ManagementAndGeneralAmt
Fundraising$27,916FundraisingAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$11,899,864TotalAmt
Program Services$9,279,381ProgramServicesAmt
Management And General$2,620,483ManagementAndGeneralAmt

Payments To Affiliates PaymentsToAffiliatesGrp

FieldValueIRS element (for citing)
Total$7,478TotalAmt
Program Services$7,478ProgramServicesAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$27,277,453TotalAmt
Program Services$26,405,142ProgramServicesAmt
Management And General$872,311ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$1,293,964TotalAmt
Program Services$1,293,964ProgramServicesAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmtFundraisingFundraisingAmt
Accessions/Books/Other Art$19,038,549$19,038,549
Other FF&E and Related Maint$4,632,098$4,251,911$376,037$4,150
Exhibition Related Expenses$2,073,722$2,073,722
Other$1,223,106$1,028,084$71,205$123,817

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$2,235,789TotalAmt
Program Services$2,055,108ProgramServicesAmt
Management And General$154,158ManagementAndGeneralAmt
Fundraising$26,523FundraisingAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$269,267,554TotalAmt
Program Services$239,259,711ProgramServicesAmt
Management And General$23,067,644ManagementAndGeneralAmt
Fundraising$6,940,199FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$6,196,242BOYAmt
EOY$16,188,728EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
BOY$34,817,097BOYAmt
EOY$51,574,077EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$4,961,081BOYAmt
EOY$5,577,598EOYAmt

Receivables From Officers Etc ReceivablesFromOfficersEtcGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

FieldValueIRS element (for citing)
BOY$3,954,579BOYAmt
EOY$3,932,311EOYAmt

Inventories For Sale Or Use InventoriesForSaleOrUseGrp

FieldValueIRS element (for citing)
BOY$5,662,325BOYAmt
EOY$5,480,491EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$7,028,574BOYAmt
EOY$5,676,841EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$668,476,384LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$214,343,660LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$463,512,779BOYAmt
EOY$454,132,724EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

FieldValueIRS element (for citing)
BOY$522,552,860BOYAmt
EOY$585,728,113EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

FieldValueIRS element (for citing)
BOY$351,388,352BOYAmt
EOY$412,296,150EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Intangible Assets IntangibleAssetsGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$4,485,507BOYAmt
EOY$1,956,502EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$1,404,559,396BOYAmt
EOY$1,542,543,535EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$32,854,301BOYAmt
EOY$32,846,583EOYAmt

Deferred Revenue DeferredRevenueGrp

FieldValueIRS element (for citing)
BOY$23,242,710BOYAmt
EOY$20,993,964EOYAmt

Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$295,235,012BOYAmt
EOY$282,999,736EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$16,191,534BOYAmt
EOY$12,343,751EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$367,523,557BOYAmt
EOY$349,184,034EOYAmt
FieldValueIRS element (for citing)
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind

Unrestricted Net Assets UnrestrictedNetAssetsGrp

FieldValueIRS element (for citing)
BOY$127,764,209BOYAmt
EOY$183,571,905EOYAmt

Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp

FieldValueIRS element (for citing)
BOY$581,898,045BOYAmt
EOY$658,670,382EOYAmt

Permanently Rstr Net Assets PermanentlyRstrNetAssetsGrp

FieldValueIRS element (for citing)
BOY$327,373,585BOYAmt
EOY$351,117,214EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$1,037,035,839BOYAmt
EOY$1,193,359,501EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$1,404,559,396BOYAmt
EOY$1,542,543,535EOYAmt
FieldValueIRS element (for citing)
Info In Schedule O Part XIYes (X)InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss$46,074,273ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst$103,514,231NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets$6,735,158OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or ReviewfalseAccountantCompileOrReviewInd
FS AuditedYes (true)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (true)AuditCommitteeInd
Federal Grant Audit RequiredYes (true)FederalGrantAuditRequiredInd
Federal Grant Audit PerformedYes (true)FederalGrantAuditPerformedInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
SchoolYes (X)SchoolInd

Form990 Schedule A Part IV Form990ScheduleAPartIVGrp

FieldValueIRS element (for citing)
Form And Line ReferenceAdditional Supplemental Information - Support ScheduleFormAndLineReferenceDesc
ExplanationPart 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.ExplanationTxt

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule C IRS990ScheduleC

FieldValueIRS element (for citing)
Form4720 Filed Section4955 TaxfalseForm4720FiledSection4955TaxInd
Correction MadefalseCorrectionMadeInd
VolunteersfalseVolunteersInd
Paid Staff Or ManagementfalsePaidStaffOrManagementInd
Media AdvertisementsfalseMediaAdvertisementsInd
Mailings MembersYes (true)MailingsMembersInd
Publications Or BroadcastfalsePublicationsOrBroadcastInd
Grants Other OrganizationsfalseGrantsOtherOrganizationsInd
Direct Contact LegislatorsfalseDirectContactLegislatorsInd
Rallies DemonstrationsfalseRalliesDemonstrationsInd
Other ActivitiesYes (true)OtherActivitiesInd
Other Activities$13,568OtherActivitiesAmt
Total Lobbying Expenditures$13,568TotalLobbyingExpendituresAmt
Not Described Section501c3falseNotDescribedSection501c3Ind
Form4720 Filed4912 TaxfalseForm4720Filed4912TaxInd

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePart II-B, Line 1i - Other Activities DescriptionFormAndLineReferenceDesc
ExplanationThe amount represents the Art Institute of Chicago's portion of funds utilized by Museums in the Park for lobbying activities.ExplanationTxt

Schedule D IRS990ScheduleD

FieldValueIRS element (for citing)
Collection Used Pub ExhibitionYes (X)CollectionUsedPubExhibitionInd
Coll Used Scholarly RsrchYes (X)CollUsedScholarlyRsrchInd
Collection Used PreservationYes (X)CollectionUsedPreservationInd
Coll Used Loan Or Exch ProgYes (X)CollUsedLoanOrExchProgInd
Solicited Assets SalefalseSolicitedAssetsSaleInd

CY Endwmt Fund CYEndwmtFundGrp

FieldValueIRS element (for citing)
Beginning Year Balance$870,433,675BeginningYearBalanceAmt
Contributions$30,936,999ContributionsAmt
Investment Earnings Or Losses$149,438,324InvestmentEarningsOrLossesAmt
Grants Or Scholarships$3,248,116GrantsOrScholarshipsAmt
Other Expenditures$40,800,273OtherExpendituresAmt
Administrative Expenses$2,657,950AdministrativeExpensesAmt
End Year Balance$1,004,102,659EndYearBalanceAmt

CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp

FieldValueIRS element (for citing)
Beginning Year Balance$804,735,325BeginningYearBalanceAmt
Contributions$6,403,600ContributionsAmt
Investment Earnings Or Losses$104,193,471InvestmentEarningsOrLossesAmt
Grants Or Scholarships$3,098,618GrantsOrScholarshipsAmt
Other Expenditures$39,156,633OtherExpendituresAmt
Administrative Expenses$2,643,470AdministrativeExpensesAmt
End Year Balance$870,433,675EndYearBalanceAmt

CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp

FieldValueIRS element (for citing)
Beginning Year Balance$842,590,142BeginningYearBalanceAmt
Contributions$13,042,836ContributionsAmt
Investment Earnings Or Losses-$7,062,856InvestmentEarningsOrLossesAmt
Grants Or Scholarships$2,977,788GrantsOrScholarshipsAmt
Other Expenditures$38,205,259OtherExpendituresAmt
Administrative Expenses$2,651,750AdministrativeExpensesAmt
End Year Balance$804,735,325EndYearBalanceAmt

CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp

FieldValueIRS element (for citing)
Beginning Year Balance$663,913,585BeginningYearBalanceAmt
Contributions$67,894,964ContributionsAmt
Investment Earnings Or Losses$151,400,848InvestmentEarningsOrLossesAmt
Grants Or Scholarships$3,082,178GrantsOrScholarshipsAmt
Other Expenditures$35,698,555OtherExpendituresAmt
Administrative Expenses$1,838,522AdministrativeExpensesAmt
End Year Balance$842,590,142EndYearBalanceAmt

CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp

FieldValueIRS element (for citing)
Beginning Year Balance$616,716,313BeginningYearBalanceAmt
Contributions$25,467,861ContributionsAmt
Investment Earnings Or Losses$64,519,514InvestmentEarningsOrLossesAmt
Grants Or Scholarships$3,199,183GrantsOrScholarshipsAmt
Other Expenditures$37,713,043OtherExpendituresAmt
Administrative Expenses$1,877,877AdministrativeExpensesAmt
End Year Balance$663,913,585EndYearBalanceAmt
FieldValueIRS element (for citing)
Board Designated Balance EOY0.38000BoardDesignatedBalanceEOYPct
Prmnnt Endowment Balance EOY0.35000PrmnntEndowmentBalanceEOYPct
Term Endowment Balance EOY0.27000TermEndowmentBalanceEOYPct
Endowments Held Unrelated OrgYes (true)EndowmentsHeldUnrelatedOrgInd
Endowments Held Related OrgfalseEndowmentsHeldRelatedOrgInd
Related Org List Sch RfalseRelatedOrgListSchRInd

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$11,324,688OtherCostOrOtherBasisAmt
Book Value$11,324,688BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$58,517,837OtherCostOrOtherBasisAmt
Depreciation$24,264,481DepreciationAmt
Book Value$34,253,356BookValueAmt

Leasehold Improvements LeaseholdImprovementsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$575,643,862OtherCostOrOtherBasisAmt
Depreciation$171,807,968DepreciationAmt
Book Value$403,835,894BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$21,761,873OtherCostOrOtherBasisAmt
Depreciation$17,049,092DepreciationAmt
Book Value$4,712,781BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$1,228,124OtherCostOrOtherBasisAmt
Depreciation$1,222,119DepreciationAmt
Book Value$6,005BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$454,132,724TotalBookValueLandBuildingsAmt
Total Book Value Securities$412,296,150TotalBookValueSecuritiesAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)

DescDescAmtAmt
Pension Liability$8,745,616
Refundable Advances$3,598,135
FieldValueIRS element (for citing)
Total Liability$12,343,751TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$436,327,089TotalRevEtcAuditedFinclStmtAmt
Net Unrealized Gains Invst$103,514,232NetUnrealizedGainsInvstAmt
Donated Services And Use Fclts$1,618,944DonatedServicesAndUseFcltsAmt
Other Revenue$18,510,036OtherRevenueAmt
Revenue Not Reported$123,643,212RevenueNotReportedAmt
Revenue Subtotal$312,683,877RevenueSubtotalAmt
Investment Expenses Not Incld$2,657,950InvestmentExpensesNotIncldAmt
Revenue Not Reported Fincl Stmt$2,657,950RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$315,341,827TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$282,661,375TotExpnsEtcAuditedFinclStmtAmt
Donated Services Use Fclts$1,618,944DonatedServicesUseFcltsAmt
Other Expenses Included$11,774,877OtherExpensesIncludedAmt
Expenses Not Reported$13,393,821ExpensesNotReportedAmt
Expenses Subtotal$269,267,554ExpensesSubtotalAmt
Total Expenses Per Form990$269,267,554TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (6 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Part III, Line 1a: If organization elected under SFAS 116 to not report are, historical treasures, oFrom Page 8 of the Institute's Audited Financial Statements: "Art Objects and Library Collections - The value of the art objects in the permanent collection, as well as the holdings of the libraries, is excluded from the statements of financial position. Additions to the permanent collection are made either by gifts, bequests, or through purchases using Institute acquisition funds. Institute 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 adopted in 1975 and revised in fiscal year 2013. 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; 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."
Part III, Line 4: Description of organization's collections and how it furthers its purpose.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.
Part V, Line 4: Intended uses of the endowment fund.The Institute establishes endowment funds for the purpose of investing assets in a manner that preserves the real value of the endowment principal and, in addition, 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 appropriation amounts are determined as of the end of the year, prior to when it becomes available for expenditure, and is equal to the spendable amount or additional amounts as approved by the Executive Committee during the year. 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.
Part X : FIN48 FootnoteFrom 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.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 $8.3 million for tax periods through June 30, 2013. The Institute does not have the ability to estimate the NOL through June 30, 2014, 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 2025 and 2033. The Institute has not recorded a tax benefit for these NOLs for the years ended June 30, 2014 and 2013, respectively; because it is unlikely that the Institute will be able to realize the benefit." The financial statements did not report uncertain tax positions.
Part XI, Line 2d: Other revenue amounts included in F/S but not included on form 990Pension-Related Changes $1976277 Unrealized App on Funds Held in Trust $4758881 Cost of Goods Sold $8707576 Rental Expenses $1099001 Raffles $28145 Other In Kind adjust $-2246 Special Events $1942402
Part XII, Line 2d: Other expenses and losses per audited F/SCost of Goods Sold $8707575 Rental Expenses $1099001 Direct Expenses - Special Events $1942402 Direct Expenses - Raffles $28145 Other $-2246

Schedule E IRS990ScheduleE

FieldValueIRS element (for citing)
Nondiscriminatory Policy StmtYes (true)NondiscriminatoryPolicyStmtInd
Policy Stmt In Brochures EtcYes (true)PolicyStmtInBrochuresEtcInd
Plcy Pblczd Via Broadcast MediaYes (true)PlcyPblczdViaBroadcastMediaInd
Maintain Racial Comp RecsYes (true)MaintainRacialCompRecsInd
Maintain Scholarships RecsYes (true)MaintainScholarshipsRecsInd
Maintain Cpy Of Brochures EtcYes (true)MaintainCpyOfBrochuresEtcInd
Maintain Cpy Of All SolYes (true)MaintainCpyOfAllSolInd
Discriminate Race Stdnts RghtsfalseDiscriminateRaceStdntsRghtsInd
Discriminate Race Admiss PlcyfalseDiscriminateRaceAdmissPlcyInd
Discriminate Race Emplm FcultyfalseDiscriminateRaceEmplmFcultyInd
Discriminate Race SchsfalseDiscriminateRaceSchsInd
Discriminate Race Educ PlcyfalseDiscriminateRaceEducPlcyInd
Discriminate Race Use Of FcltsfalseDiscriminateRaceUseOfFcltsInd
Discriminate Race Athlt ProgfalseDiscriminateRaceAthltProgInd
Discriminate Race Other ActyfalseDiscriminateRaceOtherActyInd
Government Financial Aid RcvdYes (true)GovernmentFinancialAidRcvdInd
Government Financial Aid RvkdfalseGovernmentFinancialAidRvkdInd
Compliance With Rev Proc7550Yes (true)ComplianceWithRevProc7550Ind

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental AgencyPart I, Line 6a - The Institute receives federal financial aid funding from the Department of Education under the following programs:Federal Pell Grant ProgramFederal Supplemental Educational Opportunity Grants ProgramFederal Work Study Program
Schedule E, Line 3 - Racially Nondiscriminatory Policy PublicizedThe nondiscriminatory policy is publicized in a variety of materials, including the student bulletin, the course schedule issued each semester, initial marketing material, and the student handbook.
Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
Schedule E, Line 5 - Explanation of Organization Discrimination by Race

Schedule F IRS990ScheduleF

Account Activities Outside US AccountActivitiesOutsideUSGrp (61 entries)

RegionRegionTxtOfficesOfficesCntEmployeeEmployeeCntType Of Activities ConductedTypeOfActivitiesConductedTxtSpecific Services ProvidedSpecificServicesProvidedTxtRegion Total ExpendituresRegionTotalExpendituresAmt
NORTH AMERICA00PROGRAM SERVICESMARKETING$4,650
EUROPE00PROGRAM SERVICESTRAVEL/MARKETING$34,642
EUROPE00PROGRAM SERVICESRECRUITING$12,460
SOUTH ASIA00PROGRAM SERVICESTRAVEL/RESEARCH$12,608
EAST ASIA AND THE PACIFIC00PROGRAM SERVICESTRAVEL/MARKETING$10,950
EUROPE00PROGRAM SERVICESEXHIBITIONS$672,984
NORTH AMERICA00PROGRAM SERVICESEXHIBITIONS$4,757
MIDDLE EAST AND NORTH AFR00PROGRAM SERVICESMEMBER TRAVEL$11,177
EAST ASIA AND THE PACIFIC00PROGRAM SERVICESTRAVEL/RESEARCH$719
EUROPE00PROGRAM SERVICESMEMBER TRAVEL$1,366
MIDDLE EAST AND NORTH AFR00PROGRAM SERVICESTRAVEL/RESEARCH$548
NORTH AMERICA00PROGRAM SERVICESOTHER$422,017
NORTH AMERICA00PROGRAM SERVICESRECRUITING$3,009
EUROPE00PROGRAM SERVICESOTHER$237,338
EAST ASIA AND THE PACIFIC00PROGRAM SERVICESRECRUITING$1,363
EUROPE00PROGRAM SERVICESEDUCATIONAL$85,442
EUROPE00PROGRAM SERVICESRESEARCH$13,649
EAST ASIA AND THE PACIFIC00PROGRAM SERVICESEXHIBITIONS$500
EAST ASIA AND THE PACIFIC00PROGRAM SERVICESSCHOLARLY PUBL$32,736
EUROPE00PROGRAM SERVICESSCHOLARLY PUBL$67,109
NORTH AMERICA00PROGRAM SERVICESSCHOLARLY PUBL$10,000
NORTH AMERICA00PROGRAM SERVICESTRAVEL/MARKETING$1,077
EAST ASIA AND THE PACIFIC00PROGRAM SERVICESSTUDY TOURS$53,591
EUROPE00PROGRAM SERVICESSTUDY TOURS$289,620
NORTH AMERICA00PROGRAM SERVICESSTUDY TOURS$258
SOUTH ASIA00PROGRAM SERVICESMEMBER TRAVEL$18,839
SOUTH AMERICA00PROGRAM SERVICESEDUCATIONAL$45
SOUTH ASIA00PROGRAM SERVICESEDUCATIONAL$1,084
EAST ASIA AND THE PACIFIC00PROGRAM SERVICESTRAVEL/EDUCATIONAL$34,889
EUROPE00PROGRAM SERVICESTRAVEL/EDUCATIONAL$111,233
NORTH AMERICA00PROGRAM SERVICESTRAVEL/EDUCATIONAL$20,801
EUROPE00PROGRAM SERVICESTRAVEL/RECRUITING$9,275
SOUTH ASIA00PROGRAM SERVICESTRAVEL/EDUCATIONAL$8,367
EAST ASIA AND THE PACIFIC00PROGRAM SERVICESTRAVEL/EXHIBITIONS$8,046
EUROPE00PROGRAM SERVICESTRAVEL/EXHIBITIONS$76,582
SOUTH AMERICA00PROGRAM SERVICESTRAVEL/EXHIBITIONS$6,621
NORTH AMERICA00PROGRAM SERVICESTRAVEL/EXHIBITIONS$520
SOUTH ASIA00PROGRAM SERVICESTRAVEL/EXHIBITIONS$53,069
SOUTH ASIA00PROGRAM SERVICESTRAVEL/MARKETING$28,085
EAST ASIA AND THE PACIFIC00PROGRAM SERVICESTRAVEL/RECRUITING$80,266
NORTH AMERICA00PROGRAM SERVICESTRAVEL/RECRUITING$14,231
SOUTH ASIA00PROGRAM SERVICESTRAVEL/RECRUITING$12,937
EUROPE00PROGRAM SERVICESTRAVEL/RESEARCH$104,806
NORTH AMERICA00PROGRAM SERVICESTRAVEL/RESEARCH$1,129
CENTRAL AMER & CARIBBEAN00PASSIVE INVESTMENTSN/A$271,110,485
EUROPE00PASSIVE INVESTMENTSN/A$870,377
SOUTH AMERICA00PROGRAM SERVICESTRAVEL/RESEARCH$2,703
SUB-SAHARAN AFRICA00PROGRAM SERVICESTRAVEL/RESEARCH$750
NORTH AMERICA00PROGRAM SERVICESEDUCATIONAL$1,135
EAST ASIA AND THE PACIFIC00PROGRAM SERVICESEDUCATIONAL$288
EAST ASIA AND THE PACIFIC00PROGRAM SERVICESMARKETING$2,676
SOUTH AMERICA00PROGRAM SERVICESTRAVEL/EDUCATIONAL$462
SOUTH AMERICA00PROGRAM SERVICESTRAVEL/RECRUITING$2,918
MIDDLE EAST AND NORTH AFR00PROGRAM SERVICESTRAVEL/EDUCATIONAL$7,270
MIDDLE EAST AND NORTH AFR00PROGRAM SERVICESTRAVEL/RECRUITING$845
RUSSIA AND NEWLY INDEPENDENT00PROGRAM SERVICESTRAVEL/EDUCATIONAL$574
RUSSIA AND NEWLY INDEPENDENT00PROGRAM SERVICESTRAVEL/RESEARCH$1,934
SUB-SAHARAN AFRICA00PROGRAM SERVICESTRAVEL/EDUCATIONAL$5,935
EAST ASIA AND THE PACIFIC00FUNDRAISINGN/A$61
EUROPE00FUNDRAISINGN/A$451
SOUTH ASIA00FUNDRAISINGN/A$313
FieldValueIRS element (for citing)
Subtotal Spent$1,529,679SubtotalSpentAmt
Continuation Spent$273,054,893ContinuationSpentAmt
Total Spent$274,584,572TotalSpentAmt
Transfer To Foreign CorpYes (true)TransferToForeignCorpInd
Interest In Foreign TrustfalseInterestInForeignTrustInd
Foreign Corp OwnershipfalseForeignCorpOwnershipInd
Passive Foreign Investmest CofalsePassiveForeignInvestmestCoInd
Foreign PartnershipYes (true)ForeignPartnershipInd
Boycott CountriesfalseBoycottCountriesInd

Schedule G IRS990ScheduleG

FieldValueIRS element (for citing)
Mail SolicitationsYes (X)MailSolicitationsInd
Email SolicitationsYes (X)EmailSolicitationsInd
Phone SolicitationsYes (X)PhoneSolicitationsInd
In Person SolicitationsYes (X)InPersonSolicitationsInd
Solicitation Of Non Govt GrantsYes (X)SolicitationOfNonGovtGrantsInd
Solicitation Of Govt GrantsYes (X)SolicitationOfGovtGrantsInd
Special Fundraising EventsYes (X)SpecialFundraisingEventsInd
Agrmt Prof Fundraising ActyYes (true)AgrmtProfFundraisingActyInd

Fundraiser Activity Info FundraiserActivityInfoGrp (2 entries)

ActivityActivityTxtFundraiser Control Of FundsFundraiserControlOfFundsIndGross ReceiptsGrossReceiptsAmtRetained By ContractorRetainedByContractorAmtNet To OrganizationNetToOrganizationAmt
SD&A Teleservc
Telemarketingfalse$153,401$111,574$41,827
Comnet
Telemarketingfalse$16,252$14,654$1,598
FieldValueIRS element (for citing)
Total Gross Receipts$169,653TotalGrossReceiptsAmt
Total Retained By Contractors$126,228TotalRetainedByContractorsAmt
Total Net To Organization$43,425TotalNetToOrganizationAmt
Licensed StatesILLicensedStatesCd
Licensed StatesALLicensedStatesCd
Licensed StatesAKLicensedStatesCd
Licensed StatesAZLicensedStatesCd
Licensed StatesCALicensedStatesCd
Licensed StatesCOLicensedStatesCd
Licensed StatesDCLicensedStatesCd
Licensed StatesFLLicensedStatesCd
Licensed StatesKSLicensedStatesCd
Licensed StatesKYLicensedStatesCd
Licensed StatesMDLicensedStatesCd
Licensed StatesMALicensedStatesCd
Licensed StatesMILicensedStatesCd
Licensed StatesMOLicensedStatesCd
Licensed StatesMSLicensedStatesCd
Licensed StatesNHLicensedStatesCd
Licensed StatesNJLicensedStatesCd
Licensed StatesNYLicensedStatesCd
Licensed StatesNDLicensedStatesCd
Licensed StatesOHLicensedStatesCd
Licensed StatesOKLicensedStatesCd
Licensed StatesORLicensedStatesCd
Licensed StatesSCLicensedStatesCd
Licensed StatesUTLicensedStatesCd
Licensed StatesVALicensedStatesCd
Licensed StatesWVLicensedStatesCd
Licensed StatesWILicensedStatesCd
Licensed StatesWALicensedStatesCd

Fundraising Event Information FundraisingEventInformationGrp

FieldValueIRS element (for citing)
Name Of Event1Women's Board MagritteNameOfEvent1Amt
Gross Receipts Event1$1,356,992GrossReceiptsEvent1Amt
Charitable Contri Event1$1,287,202CharitableContriEvent1Amt
Gross Revenue Event1$69,790GrossRevenueEvent1Amt
Other Direct Expenses Event1$265,038OtherDirectExpensesEvent1Amt
Name Of Event2The WalkNameOfEvent2Amt
Gross Receipts Event2$749,316GrossReceiptsEvent2Amt
Charitable Contri Event2$610,530CharitableContriEvent2Amt
Gross Revenue Event2$138,786GrossRevenueEvent2Amt
Other Direct Expenses Event2$734,064OtherDirectExpensesEvent2Amt
Other Events Total10OtherEventsTotalCnt
Gross Receipts Other Events$2,040,527GrossReceiptsOtherEventsAmt
Charitable Contri Other Events$1,513,853CharitableContriOtherEventsAmt
Gross Revenue Other Events$526,674GrossRevenueOtherEventsAmt
Oth Direct Expnss Other Events$943,300OthDirectExpnssOtherEventsAmt
Gross Receipts Total$4,146,835GrossReceiptsTotalAmt
Charitable Contributions Tot$3,411,585CharitableContributionsTotAmt
Gross Revenue Total Events$735,250GrossRevenueTotalEventsAmt
Oth Direct Expnss Total Events$1,942,402OthDirectExpnssTotalEventsAmt
Direct Expense Summary Events$1,942,402DirectExpenseSummaryEventsAmt
Net Income Summary-$1,207,152NetIncomeSummaryAmt

Gaming Information GamingInformationGrp

FieldValueIRS element (for citing)
Volunteer Labor BingofalseVolunteerLaborBingoInd
Volunteer Labor Pull TabsfalseVolunteerLaborPullTabsInd
Gross Revenue Other Gaming$19,535GrossRevenueOtherGamingAmt
Non Cash Prizes Other Gaming$28,145NonCashPrizesOtherGamingAmt
Volunteer Labor Other GamingYes (true)VolunteerLaborOtherGamingInd
Volunteer Labor Other Gaming1.00000VolunteerLaborOtherGamingPct
Gross Revenue Total Gaming$19,535GrossRevenueTotalGamingAmt
Non Cash Prizes Total Gaming$28,145NonCashPrizesTotalGamingAmt
Direct Expense Summary Gaming$28,145DirectExpenseSummaryGamingAmt
Net Gaming Income Summary-$8,610NetGamingIncomeSummaryAmt
FieldValueIRS element (for citing)
States Where Gaming ConductedILStatesWhereGamingConductedCd
LicensedYes (true)LicensedInd
License Suspended EtcfalseLicenseSuspendedEtcInd
Gaming With NonmembersYes (true)GamingWithNonmembersInd
Member Of Other EntityfalseMemberOfOtherEntityInd
Gaming Own Facility0.33000GamingOwnFacilityPct
Gaming Other Facility0.67000GamingOtherFacilityPct

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1Alison SowdenBusinessNameLine1

Persons With Books US Address PersonsWithBooksUSAddress

FieldValueIRS element (for citing)
Address Line1111 South Michigan AvenueAddressLine1
CityChicagoCity
StateILState
ZIP Code60603ZIPCode
FieldValueIRS element (for citing)
Cntrct With3rd Prty For Game RevfalseCntrctWith3rdPrtyForGameRevInd
Charitable Distribution RqrfalseCharitableDistributionRqrInd

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedYes (true)GrantRecordsMaintainedInd
Total501c3 Org0Total501c3OrgCnt
Total Other Org0TotalOtherOrgCnt

Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp (2 entries)

Grant TypeGrantTypeTxtRecipientRecipientCntCash GrantCashGrantAmtValuation Method UsedValuationMethodUsedDescNon Cash AssistanceNonCashAssistanceDesc
Student Scholarships and Stipends3292$35,391,752N/AN/A
Faculty Enrichment Grants51$78,900N/AN/A

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceGrantmaker's Description of How Grants are UsedFormAndLineReferenceDesc
ExplanationScholarships 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. Payments are monitored by the Dean's office and all payments are approved by the Vice Provost and School Finance department before payment is made.ExplanationTxt

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
First Class Or Charter TravelYes (X)FirstClassOrCharterTravelInd
Travel For CompanionsYes (X)TravelForCompanionsInd
Idemnification Gross Up PmtsYes (X)IdemnificationGrossUpPmtsInd
Club Dues Or FeesYes (X)ClubDuesOrFeesInd
Written Policy Ref T And E ExpnssYes (true)WrittenPolicyRefTAndEExpnssInd
Substantiation RequiredYes (true)SubstantiationRequiredInd
Compensation CommitteeYes (X)CompensationCommitteeInd
Independent ConsultantYes (X)IndependentConsultantInd
Form990 Of Other OrganizationsYes (X)Form990OfOtherOrganizationsInd
Written Employment ContractYes (X)WrittenEmploymentContractInd
Compensation SurveyYes (X)CompensationSurveyInd
Board Or Committee ApprovalYes (X)BoardOrCommitteeApprovalInd
Severance PaymentYes (true)SeverancePaymentInd
Supplemental Nonqual Rtr PlanYes (true)SupplementalNonqualRtrPlanInd
Equity Based Comp ArrngmfalseEquityBasedCompArrngmInd
Comp Based On Revenue Of Flng OrgfalseCompBasedOnRevenueOfFlngOrgInd
Comp Bsd On Rev Related OrgsfalseCompBsdOnRevRelatedOrgsInd
Comp Bsd Net Earns Flng OrgfalseCompBsdNetEarnsFlngOrgInd
Comp Bsd Net Earns Rltd OrgsfalseCompBsdNetEarnsRltdOrgsInd
Any Non Fixed PaymentsfalseAnyNonFixedPaymentsInd
Initial Contract ExceptionfalseInitialContractExceptionInd
Rebuttable Presumption ProcfalseRebuttablePresumptionProcInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (19 entries)

TitleTitleTxtBase Compensation Filing OrgBaseCompensationFilingOrgAmtOther Compensation Filing OrgOtherCompensationFilingOrgAmtDeferred Compensation Flng OrgDeferredCompensationFlngOrgAmtNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmtTotal Compensation Filing OrgTotalCompensationFilingOrgAmt
Brian Esker
VP of Finance and Admin SAIC$189,458$17,945$28,000$10,811$246,214
David Thurm
COO Museum$405,781$31,771$22,950$22,311$482,813
Douglas Druick
Pres & Dir, Mus$491,726$132,262$118,000$19,416$761,404
Edward McNulty
Sr VP/Planning/COO$157,007$157,007
Elissa Tenny
Provost/SVP Acad Affairs$286,945$22,283$57,234$1,012$367,474
Elizabeth Grainer
VP of Aux Ops$188,425$1,121$56,000$8,757$254,303
Eric Anyah
EVP & CFO$207,090$44,067$59,000$15,775$325,932
Eugene Adams
VP of IS/CIO$200,392$1,015$34,000$24,589$259,996
Felice Dublon
VP/Dean StdAffairs$166,549$16,759$14,580$10,695$208,583
Gordon Montgomery
VP of Marketing$263,166$404$22,950$25,469$311,989
Julia Getzels
EVP & Gen Couns$334,551$18,727$45,000$23,898$422,176
Lisa Wainwright
Faculty Dean/VP Acad Admin$214,485$470$19,807$16,684$251,446
Martha Tedeschi
Deputy Director for Art & Research$162,193$1,299$82,000$23,238$268,730
Patricia Lawson
Controller$161,147$18,042$54,500$10,395$244,084
Paul Coffey
Vice Provost$179,982$1,191$35,000$12$216,185
Rose Milkowski
VP for Enrollment Mgmt$181,655$241$16,550$2,426$200,872
Samuel Quigley
VP, CMIIT$183,782$1,117$17,178$21,861$223,938
Tom Buechele
VP for Campus Operations$178,170$1,178$29,000$21,601$229,949
Walter Massey
President, Sch$512,191$26,236$23,903$12$562,342

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePart I, Line 1a: Relevant information in regards to selections on 1a.FormAndLineReferenceDesc
ExplanationFirst class travel is allowed under limited circumstances as set forth in the travel policy. The Presidents of the Museum and the School are allowed to have their partners accompany them on business trips if their presence is necessary for a specific, bona fide purpose of the Institute. The President of the School's employment contract allows 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.The Provost/Senior Vice President for Academic Affairs received payment for tuition assistance. The tuition assistance was grossed-up for applicable taxes. The tuition assistance and gross-up were both addressed in the individual employment contract.ExplanationTxt

Schedule K IRS990ScheduleK

Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp (3 entries)

Bond ReferenceBondReferenceCdBond Issuer EINBondIssuerEINCUSIPCUSIPNumBond IssuedBondIssuedDtIssue PriceIssuePriceAmtPurposePurposeDescDefeasedDefeasedIndOn Behalf Of IssuerOnBehalfOfIssuerIndPool FinancingPoolFinancingInd
IL Finance Authority
A86109196745200FVM82009-03-26$139,158,000Constr./Renov. Museum Facil.falsefalsefalse
IL Finance Authority
B86109196745200F3N72010-06-09$113,537,854See Part VIfalsefalsefalse
IL Finance Authority
C86109196745203HMP42012-10-18$66,292,422See Part VIfalsefalsefalse

Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp (3 entries)

Bond ReferenceBondReferenceCdRetiredRetiredAmtTotal ProceedsTotalProceedsAmtCapital ExpendituresCapitalExpendituresAmtCurrent RefundingCurrentRefundingIndAdvance RefundingAdvanceRefundingIndFinal Allocation MadeFinalAllocationMadeIndAdequate Books And Rec MaintAdequateBooksAndRecMaintIndWorking Capital ExpendituresWorkingCapitalExpendituresAmtOther Spent ProceedsOtherSpentProceedsAmt
A$80,000,000$139,158,000$139,158,000falsefalseYes (true)Yes (true)
B$2,405,000$113,537,854Yes (true)Yes (true)Yes (true)Yes (true)$5,986$113,531,868
C$16,890,000$66,292,422falseYes (true)Yes (true)Yes (true)$66,292,422

Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp (2 entries)

Bond ReferenceBondReferenceCdOwning Bond Financed PropertyOwningBondFinancedPropertyIndAny Lease ArrangementsAnyLeaseArrangementsIndMgmt Contract Bond Fincd PropMgmtContractBondFincdPropIndAny Research AgreementsAnyResearchAgreementsIndPrivate Bus Use By OthersPrivateBusUseByOthersPctPrivate Bus Concerning UBIPrivateBusConcerningUBIPctTotal Private Business UseTotalPrivateBusinessUsePctBond Iss Meet Prvt Sec Pymt TestBondIssMeetPrvtSecPymtTestIndChange In Use Bond Financed PropChangeInUseBondFinancedPropIndProcs Nonqualified Bond RemdtdProcsNonqualifiedBondRemdtdInd
Afalsefalsefalsefalse0.000000.000000.00000falsefalseYes (true)
Cfalsefalsefalsefalse0.000000.000000.00000falsefalseYes (true)

Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp (3 entries)

Bond ReferenceBondReferenceCdForm8038 T FiledForm8038TFiledIndRebate Not Due YetRebateNotDueYetIndException To RebateExceptionToRebateIndNo Rebate DueNoRebateDueIndHedge Identified In Bks And RecHedgeIdentifiedInBksAndRecIndGross Proceeds Invested In GICGrossProceedsInvestedInGICIndBusiness Name Line1GICProviderName/BusinessNameLine1Gross Proceeds InvestedGrossProceedsInvestedIndWritten Proc To Monitor ReqsWrittenProcToMonitorReqsInd
NA
AfalsefalseYes (true)falsefalsefalseNAfalseYes (true)
NA
BfalseYes (true)falsefalsefalsefalseNAfalseYes (true)
NA
CfalseYes (true)falsefalsefalsefalseNAfalseYes (true)

Procedures Corrective Action ProceduresCorrectiveActionGrp (3 entries)

Bond ReferenceBondReferenceCdProcedures Corrective ActionProceduresCorrectiveActionInd
AYes (true)
BYes (true)
CYes (true)

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePart VIFormAndLineReferenceDesc
ExplanationPart I, Line B, Column(f)-Description of Purpose-Refund 10/15/1992 Bonds, Refund 2/23/1995 Bonds, Refund 3/27/1996 Bonds, and Advance Refund Portion of 2/9/2000 Series 2000A Bonds. Part I, Line C, Column(f)-Description of Purpose-Advance Refund Portions of 3/18/1998 Series 1998A Bonds, 2/9/2000 Series 2000A Bonds, 7/9/2003 Series 2003A Bonds, and 5/20/2010 Series 2010B Bonds.Part II, Lines 9 and 11, Column B - These amounts differ slightly from what was shown on the 8038 Form that was filed for the bonds. 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.Part IV, Line 6, Columns B & C-This question is being answered without regard to yield-restricted advance refunding escrow financed with proceeds of the bonds.ExplanationTxt

Schedule L IRS990ScheduleL

Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (3 entries)

Relationship DescriptionRelationshipDescriptionTxtTransactionTransactionAmtTransactionTransactionDescSharing Of RevenuesSharingOfRevenuesInd
Northern Trust
Trustee/CEO$605,299Inv.Custody/Perf Serv.false
Commonwealth Edison ComEd
Trustee/CEO$1,081,350ComEd Electrical Serfalse
Commonwealth Edison ComEd
Trustee/Dire$1,081,350ComEd Electrical Serfalse

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceSchedule L, Part V Supplemental InformationFormAndLineReferenceDesc
ExplanationNorthern Trust is one of several banks that the Institute uses for various investment and banking services. F. Waddell serves as CEO of Northern Trust.ComEd is an utility company that supplies electricity to the Institute. A. Pramaggiore serves as CEO of ComEd, A. Steven Crown is a Director of ComEd.ExplanationTxt

Schedule M IRS990ScheduleM

Works Of Art WorksOfArtGrp

FieldValueIRS element (for citing)
Non Cash CheckboxYes (X)NonCashCheckboxInd
Contribution880ContributionCnt
Method Of Determining RevenuesSee Part IIMethodOfDeterminingRevenuesTxt

Art Fractional Interest ArtFractionalInterestGrp

FieldValueIRS element (for citing)
Non Cash CheckboxYes (X)NonCashCheckboxInd
Contribution4ContributionCnt
Method Of Determining RevenuesSee Part IIMethodOfDeterminingRevenuesTxt

Books And Publications BooksAndPublicationsGrp

FieldValueIRS element (for citing)
Non Cash CheckboxYes (X)NonCashCheckboxInd
Noncash Contributions Rpt F990$39,647NoncashContributionsRptF990Amt
Method Of Determining RevenuesFMVMethodOfDeterminingRevenuesTxt

Securities Publicly Traded SecuritiesPubliclyTradedGrp

FieldValueIRS element (for citing)
Non Cash CheckboxYes (X)NonCashCheckboxInd
Contribution143ContributionCnt
Noncash Contributions Rpt F990$5,791,378NoncashContributionsRptF990Amt
Method Of Determining RevenuesFMVMethodOfDeterminingRevenuesTxt

Other Non Cash Contri Table OtherNonCashContriTableGrp (4 entries)

Non Cash CheckboxNonCashCheckboxIndDescDescContributionContributionCntNoncash Contributions Rpt F990NoncashContributionsRptF990AmtMethod Of Determining RevenuesMethodOfDeterminingRevenuesTxt
Yes (X)AIRFARE270$105,103FMV
Yes (X)DEPT'L SUPPLIES42$101,598FMV
Yes (X)EXHIB SUPPLIES1$35,000FMV
Yes (X)SPECIAL EVENT217$423,344FMV
FieldValueIRS element (for citing)
Form8283 Received26Form8283ReceivedCnt
Any Property That Must Be HeldfalseAnyPropertyThatMustBeHeldInd
Review Process Unusual NC GiftsYes (true)ReviewProcessUnusualNCGiftsInd
Third Parties UsedYes (true)ThirdPartiesUsedInd

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Part I, Line 32, Hire and Use of Third PartiesThe Institute utilizes its investment custodian Northern Trust to receive and sell stock gifts made to the organization.
Part I, Line 33, Revenues Not ReportedThe Institute does not capitalize its collection items nor report contributions of collection items as revenue as permitted under generally accepted accounting principles.

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (12 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, EtA family relationship exists between Trustees Robert H. Bergman and Andrew M. Rosenfield. A business relationship exists between Officer Walter E. Massey and Trustee Cary D. McMillan. Business relationships exist between the following Trustees: Thomas J. Pritzker, Cary McMillan and Byron Trott; Thomas J. Pritzker and Samuel M. Mencoff; Thomas J. Pritzker and Matthew Gibson; Thomas J. Pritzker and Mark Pu; Byron Trott and Joseph Mansueto; Kenneth C. Griffin and James A. Gordon; A. Steven Crown and Anne Pramaggiore; A. Steven Crown and Robert M. Levy; Robert M. Levy and Melinda Martin Sullivan;Sarah Nava Garvey and Eric T. McKissack; Dana D. Rice and Michael Sacks; Fred Eyechaner and Byron Trott; Fred Eyechaner and Michael Sacks.
Form 990, Part VI, Line 11b: Form 990 Review ProcessA full version of the Form 990 is reviewed in detail by the Institute's Audit Committee before filing with the Internal Revenue Service, including Schedule B-Schedule of Contributors. The Board of Trustees is provided a copy of the public disclosure version of the Form 990 before it is filed with the Internal Revenue Service. Schedule B is made available to the Board of Trustees upon request, however, a copy is not widely distributed.
Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of ConflictsUnder 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 Institutes 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. The Related Party shall not be counted for purposes of determining whether there is a quorum. Financial interests 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 this 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 Institutes General Counsel's office.
Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key EmployeesThe Institute's Executive Committee, composed entirely of independent Trustees, approves compensation for the President and Director of the Museum and for the President of the School. 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 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 Vice President for Human Resources 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 decisions on compensation are documented in contemporaneous meeting minutes. In the case of the President and Director of the Museum and the President, the Provost, and the Dean of Faculty of the School, the decisions may be reflected in employment contracts as well.For key employees whose compensation is not reviewed and approved by the Compensation and Benefits Committee, their compensation is generally based on independent salary surveys typically conducted at the time of hire 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 19: Other Organization Documents Publicly AvailableThe 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.
Other Changes In Net Assets Or Fund Balances - Other IncreasesPension Related Changes other than Net Periodic Pension Cost = $1976277
Other Changes In Net Assets Or Fund Balances - Other IncreasesUnrealized Appreciation on Funds Held in Trust = $4758881
Form 990, Part V, Line 7gThe Institute 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 V, Line 7hForm 1098-C is not applicable to the Institute.
Form 990, Part VI, Line 14The Institute has a document retention and destruction policy that is approved by Management.
Form 990, Part VII, Line 1a, Column BThe amount of hours per week devoted to position has been noted as 1 hour for all Trustees. The amount of hours per week devoted by Trustees varies depending on the position held and the committees the Trustee devotes time to.
Schedule B, Special Rules, Box 1The Art Institute of Chicago is exempt under two categories listed in Schedule A 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. Because 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).

Schedule R IRS990ScheduleR

Id Disregarded Entities IdDisregardedEntitiesGrp (9 entries)

Address Line1USAddress/AddressLine1CityUSAddress/CityStateUSAddress/StateZIP CodeUSAddress/ZIPCodeEINEINPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdTotal IncomeTotalIncomeAmtEnd Of Year AssetsEndOfYearAssetsAmtBusiness Name Line1DirectControllingEntityName/BusinessNameLine1
AICCB LLC
111 South Michigan AvenueChicagoIL60603205052348InvestmentsDE$1,406,747$3,200,000The Art Institute of Chicago
AICGS LLC
111 South Michigan AvenueChicagoIL60603362167725InvestmentsDE$913,724$4,174,000The Art Institute of Chicago
AICHP LLC
111 South Michigan AvenueChicagoIL60603362167725InvestmentsDE$17,102$1,856,823The Art Institute of Chicago
AIC AA LLC
111 South Michigan AvenueChicagoIL60603362167725InvestmentsDE$284,148$4,449,240The Art Institute of Chicago
AIC AX LLC
111 South Michigan AvenueChicagoIL60603362167725InvestmentsDE$1,996,111The Art Institute of Chicago
AIC BLK LLC
111 South Michigan AvenueChicagoIL60603362167725InvestmentsDE$680,560$15,070,535The Art Institute of Chicago
AIC MS SS LLC
111 South Michigan AvenueChicagoIL60603362167725InvestmentsDE$3,413,488The Art Institute of Chicago
AIC GS MEZZ LLC
111 South Michigan AvenueChicagoIL60603362167725InvestmentsDE$556,827$3,120,000The Art Institute of Chicago
AIC Ventures LLC
111 South Michigan AvenueChicagoIL60603900708171OtherILThe Art Institute of Chicago

Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp

Related Organization Name RelatedOrganizationName

FieldValueIRS element (for citing)
Business Name Line1AIC - PP IncBusinessNameLine1

Foreign Address ForeignAddress

FieldValueIRS element (for citing)
Address Line1190 Elgin AvenueAddressLine1
CityGeorge TownCity
CountryCJCountry
Postal CodeKY1-9005PostalCode
FieldValueIRS element (for citing)
EIN980574645EIN
Primary ActivitiesInvestmentsPrimaryActivitiesTxt
Legal Domicile Foreign CountryCJLegalDomicileForeignCountryCd

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1The Art Institute ofBusinessNameLine1
FieldValueIRS element (for citing)
Entity TypeC corpEntityTypeTxt
Share Of EOY Assets$195,062ShareOfEOYAssetsAmt
Ownership1.00000OwnershipPct
Controlled OrganizationYes (true)ControlledOrganizationInd
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts RyltsfalseReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth OrgfalseGiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth OrgfalseGiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other OrgfalseLoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth OrgfalseLoansOrGuaranteesFromOthOrgInd
Div Related OrganizationfalseDivRelatedOrganizationInd
Asset Sale To Other OrgfalseAssetSaleToOtherOrgInd
Asset Purchase From Other OrgfalseAssetPurchaseFromOtherOrgInd
Asset ExchangefalseAssetExchangeInd
Rental Of Facilities To Oth OrgfalseRentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth OrgfalseRentalOfFcltsFromOthOrgInd
Perform Of Services For Oth OrgfalsePerformOfServicesForOthOrgInd
Perform Of Services By Other OrgfalsePerformOfServicesByOtherOrgInd
Sharing Of FacilitiesfalseSharingOfFacilitiesInd
Paid Employees SharingfalsePaidEmployeesSharingInd
Reimbursement Paid To Other OrgYes (true)ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other OrgfalseReimbursementPaidByOtherOrgInd
Transfer To Other OrgYes (true)TransferToOtherOrgInd
Transfer From Other OrgfalseTransferFromOtherOrgInd

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