2015-05-13T12:18:17-07:00 2014-06-30 DELOITTE TAX LLP 111 SOUTH WACKER DRIVE CHICAGO IL 606064301 990 2013-07-01 362167725 The Art Institute of Chicago ARTI 3124433600 111 South Michigan Avenue Chicago IL 60603 Alison Sowden CFO 2015-05-13 true DELOITTE TAX LLP P00855604 3124861000 2013 2016-02-25 16:41:14Z 380062453 false 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. 53 50 3543 630 1314844 51730267 81911392 160195800 183269958 30193556 37657861 11212380 12502616 253332003 315341827 33742816 35470652 0 110513140 104927088 181458 126228 6940199 125813293 128743586 270250707 269267554 -16918704 46074273 1404559396 1542543535 367523557 349184034 1037035839 1193359501 The 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. false false 138551765 35470652 146879965 The 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. 100707946 43374181 The 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. 239259711 true true false true false 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 false false false false false false false false false true true true false false true true true true false false true 793 0 true 3543 true true false false false false true true false 0 false false false false false false false false false false X 53 50 true false false false false false false true true false false false true true true true false true true false X X X Alison Sowden 3124994263 111 South Michigan Avenue Chicago IL 60603 Anne Searle Bent Trustee 1.00 0.00 X 0 0 0 Linda Buonanno Trustee 1.00 0.00 X 0 0 0 Todd C Brown Trustee 1.00 0.00 X 0 0 0 Lester N Coney Trustee 1.00 0.00 X 0 0 0 A Steven Crown Trustee 1.00 0.00 X 0 0 0 William M Daley Trustee 1.00 0.00 X 0 0 0 Shawn M Donnelley Trustee 1.00 0.00 X 0 0 0 Janet Duchossois Trustee 1.00 0.00 X 0 0 0 John A Edwardson Trustee 1.00 0.00 X 0 0 0 Fred Eychaner Trustee 1.00 0.00 X 0 0 0 Denise B Gardner Trustee 1.00 0.00 X 0 0 0 Sarah Nava Garvey Trustee 1.00 0.00 X 0 0 0 Matthew R Gibson Trustee 1.00 0.00 X 0 0 0 James A Gordon Trustee 1.00 0.00 X 0 0 0 Kenneth C Griffin Trustee 1.00 0.00 X 0 0 0 Joseph P Gromacki Trustee 1.00 0.00 X 0 0 0 Ann Grube Trustee 1.00 0.00 X 0 0 0 Caryn Harris Trustee 1.00 0.00 X 0 0 0 John W Jordan II Trustee 1.00 0.00 X 0 0 0 Pamela Joyner Trustee 1.00 0.00 X 0 0 0 Rita Knox Trustee 1.00 0.00 X 0 0 0 Jay Krehbiel Trustee 1.00 0.00 X 0 0 0 Eric P Lefkofsky Trustee 1.00 0.00 X 0 0 0 Lawrence F Levy Trustee 1.00 0.00 X 0 0 0 Robert M Levy Trustee 1.00 0.00 X 0 0 0 Timothy Maloney Trustee 1.00 0.00 X 0 0 0 John Manley Trustee 1.00 0.00 X 0 0 0 Joseph Mansueto Trustee 1.00 0.00 X 0 0 0 Nancy Lauter McDougal Trustee 1.00 0.00 X 0 0 0 Eric T McKissack Trustee 1.00 0.00 X 0 0 0 Cary D McMillan Trustee 1.00 0.00 X 0 0 0 Samuel M Mencoff Trustee 1.00 0.00 X 0 0 0 Sylvia Neil Trustee 1.00 0.00 X 0 0 0 Dustin O'Regan Trustee 1.00 0.00 X 0 0 0 Cynthia Perucca Trustee 1.00 0.00 X 0 0 0 Anne Pramaggiore Chairman 1.00 0.00 X 0 0 0 Thomas J Pritzker Trustee 1.00 0.00 X 0 0 0 Mark Pu Trustee 1.00 0.00 X 0 0 0 J Christopher Reyes Trustee 1.00 0.00 X 0 0 0 Linda Johnson Rice Trustee 1.00 0.00 X 0 0 0 Andrew M Rosenfield Trustee 1.00 0.00 X 0 0 0 Michael Sacks Trustee 1.00 0.00 X 0 0 0 Stephanie Sick Trustee 1.00 0.00 X 0 0 0 Prabhakant Sinha Trustee 1.00 0.00 X 0 0 0 Edward Byron Smith Jr Trustee 1.00 0.00 X 0 0 0 Melinda Martin Sullivan Trustee 1.00 0.00 X 0 0 0 Rebecca Ford Terry Trustee 1.00 0.00 X 0 0 0 Marilynn Thoma Trustee 1.00 0.00 X 0 0 0 Byron D Trott Trustee 1.00 0.00 X 0 0 0 David J Vitale Trustee 1.00 0.00 X 0 0 0 Frederick H Waddell Trustee 1.00 0.00 X 0 0 0 David Weinberg Trustee 1.00 0.00 X 0 0 0 Roger Weston Trustee 1.00 0.00 X 0 0 0 Douglas Druick Pres & Dir, Mus 40.00 0.00 X 623988 0 137416 Julia Getzels EVP & Gen Couns 40.00 0.00 X 353278 0 68898 Eric Anyah EVP & CFO 40.00 0.00 X 251157 0 74775 Patricia Lawson Controller 40.00 0.00 X 179189 0 64895 Alison Sowden EVP & CFO 40.00 0.00 X 0 0 0 Walter Massey President, Sch 40.00 0.00 X 538427 0 23915 David Thurm COO Museum 40.00 0.00 X 437552 0 45261 Elissa Tenny Provost/SVP Acad Affairs 40.00 0.00 X 309228 0 58246 Elizabeth Grainer VP of Aux Ops 40.00 0.00 X 189546 0 64757 Lisa Wainwright Faculty Dean/VP Acad Admin 40.00 0.00 X 214955 0 36491 Rose Milkowski VP for Enrollment Mgmt 40.00 0.00 X 181896 0 18976 Brian Esker VP of Finance and Admin SAIC 40.00 0.00 X 207403 0 38811 Tom Buechele VP for Campus Operations 40.00 0.00 X 179348 0 50601 Martha Tedeschi Deputy Director for Art & Research 40.00 0.00 X 163492 0 105238 Gordon Montgomery VP of Marketing 40.00 0.00 X 263570 0 48419 Eugene Adams VP of IS/CIO 40.00 0.00 X 201407 0 58589 Felice Dublon VP/Dean StdAffairs 40.00 0.00 X 183308 0 25275 Samuel Quigley VP, CMIIT 40.00 0.00 X 184899 0 39039 Paul Coffey Vice Provost 40.00 0.00 X 181173 0 35012 Edward McNulty Sr VP/Planning/COO 40.00 0.00 X 157007 0 0 5000823 994614 98 true true false US Equities Asset Mgmt LLC 20 N Michigan Ave 400 Chicago IL 60602 Bldg Maint Services 1661232 Twin Eagle Management 8847 S Sam Houston Parkway N Houston TX 77040 Environmental Servic 1486876 Bulley & Andrews LLC 1755 W Armitage Chicago IL 60622 Bldg Maint Services 963979 TriMark Marlinn LLC P O Box CH1731 Palantine IL 600557131 Design Services 643791 Ragnar Benson 250 S Northwest Hwy Park Ridge IL 60068 Construction Service 364414 17 12720913 3410906 6934652 58844921 6496070 81911392 Exhib. Loan/Particip Fees 900099 2662568 2662568 Museum Admissions 900099 12958955 12958955 Other Restricted Prog Rev 900099 1792074 1792074 Proceeds from Sale of Art 900099 16980748 16980748 Tuition and Fees 611600 143545848 143545848 5329765 5329765 183269958 6718207 6718207 0 264662 264662 2748788 1099001 1649787 1649787 129572 1520215 83883157 52943503 30939654 30939654 30939654 735250 3411585 1942402 -1207152 -1207152 19535 28145 -8610 -8610 16877035 8707575 8169460 6984188 1185272 Other Invest. Inc (Loss) 900099 3634469 3634469 3634469 315341827 190254146 1314844 41861445 0 35470652 35470652 0 0 4630705 2902347 1728358 0 78669258 66790858 8328244 3550156 2626245 2003469 431637 191139 13373774 11164398 1616305 593071 5627106 4731759 655355 239992 0 286970 286970 398630 398630 13568 13568 126228 126228 2657950 2657950 15538471 13799247 828910 910314 2656580 2590627 65953 10457006 9363067 324939 769000 2322109 1438177 854860 29072 183479 183479 20798357 19936519 741090 120748 3399963 3187825 50018 162120 0 348480 250380 70184 27916 11899864 9279381 2620483 7478 7478 27277453 26405142 872311 1293964 1293964 Accessions/Books/Other Art 19038549 19038549 Other FF&E and Related Maint 4632098 4251911 376037 4150 Exhibition Related Expenses 2073722 2073722 Other 1223106 1028084 71205 123817 2235789 2055108 154158 26523 269267554 239259711 23067644 6940199 0 6196242 16188728 34817097 51574077 4961081 5577598 0 0 3954579 3932311 5662325 5480491 7028574 5676841 668476384 214343660 463512779 454132724 522552860 585728113 351388352 412296150 0 0 4485507 1956502 1404559396 1542543535 32854301 32846583 23242710 20993964 295235012 282999736 16191534 12343751 367523557 349184034 X 127764209 183571905 581898045 658670382 327373585 351117214 1037035839 1193359501 1404559396 1542543535 X 46074273 103514231 6735158 X false true X true true true X Additional Supplemental Information - Support Schedule 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. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false true false false false false true 13568 13568 false false Part II-B, Line 1i - Other Activities Description The amount represents the Art Institute of Chicago's portion of funds utilized by Museums in the Park for lobbying activities. X X X X false 870433675 30936999 149438324 3248116 40800273 2657950 1004102659 804735325 6403600 104193471 3098618 39156633 2643470 870433675 842590142 13042836 -7062856 2977788 38205259 2651750 804735325 663913585 67894964 151400848 3082178 35698555 1838522 842590142 616716313 25467861 64519514 3199183 37713043 1877877 663913585 0.38000 0.35000 0.27000 true false false 11324688 11324688 58517837 24264481 34253356 575643862 171807968 403835894 21761873 17049092 4712781 1228124 1222119 6005 454132724 412296150 Pension Liability 8745616 Refundable Advances 3598135 12343751 X 436327089 103514232 1618944 18510036 123643212 312683877 2657950 2657950 315341827 282661375 1618944 11774877 13393821 269267554 269267554 Part III, Line 1a: If organization elected under SFAS 116 to not report are, historical treasures, o From 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 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.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 990 Pension-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/S Cost of Goods Sold $8707575 Rental Expenses $1099001 Direct Expenses - Special Events $1942402 Direct Expenses - Raffles $28145 Other $-2246 true true true true true true true false false false false false false false false true false true Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental Agency Part 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 Publicized The 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 NORTH AMERICA 0 0 PROGRAM SERVICES MARKETING 4650 EUROPE 0 0 PROGRAM SERVICES TRAVEL/MARKETING 34642 EUROPE 0 0 PROGRAM SERVICES RECRUITING 12460 SOUTH ASIA 0 0 PROGRAM SERVICES TRAVEL/RESEARCH 12608 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES TRAVEL/MARKETING 10950 EUROPE 0 0 PROGRAM SERVICES EXHIBITIONS 672984 NORTH AMERICA 0 0 PROGRAM SERVICES EXHIBITIONS 4757 MIDDLE EAST AND NORTH AFR 0 0 PROGRAM SERVICES MEMBER TRAVEL 11177 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES TRAVEL/RESEARCH 719 EUROPE 0 0 PROGRAM SERVICES MEMBER TRAVEL 1366 MIDDLE EAST AND NORTH AFR 0 0 PROGRAM SERVICES TRAVEL/RESEARCH 548 NORTH AMERICA 0 0 PROGRAM SERVICES OTHER 422017 NORTH AMERICA 0 0 PROGRAM SERVICES RECRUITING 3009 EUROPE 0 0 PROGRAM SERVICES OTHER 237338 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES RECRUITING 1363 EUROPE 0 0 PROGRAM SERVICES EDUCATIONAL 85442 EUROPE 0 0 PROGRAM SERVICES RESEARCH 13649 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES EXHIBITIONS 500 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES SCHOLARLY PUBL 32736 EUROPE 0 0 PROGRAM SERVICES SCHOLARLY PUBL 67109 NORTH AMERICA 0 0 PROGRAM SERVICES SCHOLARLY PUBL 10000 NORTH AMERICA 0 0 PROGRAM SERVICES TRAVEL/MARKETING 1077 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDY TOURS 53591 EUROPE 0 0 PROGRAM SERVICES STUDY TOURS 289620 NORTH AMERICA 0 0 PROGRAM SERVICES STUDY TOURS 258 SOUTH ASIA 0 0 PROGRAM SERVICES MEMBER TRAVEL 18839 SOUTH AMERICA 0 0 PROGRAM SERVICES EDUCATIONAL 45 SOUTH ASIA 0 0 PROGRAM SERVICES EDUCATIONAL 1084 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES TRAVEL/EDUCATIONAL 34889 EUROPE 0 0 PROGRAM SERVICES TRAVEL/EDUCATIONAL 111233 NORTH AMERICA 0 0 PROGRAM SERVICES TRAVEL/EDUCATIONAL 20801 EUROPE 0 0 PROGRAM SERVICES TRAVEL/RECRUITING 9275 SOUTH ASIA 0 0 PROGRAM SERVICES TRAVEL/EDUCATIONAL 8367 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES TRAVEL/EXHIBITIONS 8046 EUROPE 0 0 PROGRAM SERVICES TRAVEL/EXHIBITIONS 76582 SOUTH AMERICA 0 0 PROGRAM SERVICES TRAVEL/EXHIBITIONS 6621 NORTH AMERICA 0 0 PROGRAM SERVICES TRAVEL/EXHIBITIONS 520 SOUTH ASIA 0 0 PROGRAM SERVICES TRAVEL/EXHIBITIONS 53069 SOUTH ASIA 0 0 PROGRAM SERVICES TRAVEL/MARKETING 28085 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES TRAVEL/RECRUITING 80266 NORTH AMERICA 0 0 PROGRAM SERVICES TRAVEL/RECRUITING 14231 SOUTH ASIA 0 0 PROGRAM SERVICES TRAVEL/RECRUITING 12937 EUROPE 0 0 PROGRAM SERVICES TRAVEL/RESEARCH 104806 NORTH AMERICA 0 0 PROGRAM SERVICES TRAVEL/RESEARCH 1129 CENTRAL AMER & CARIBBEAN 0 0 PASSIVE INVESTMENTS N/A 271110485 EUROPE 0 0 PASSIVE INVESTMENTS N/A 870377 SOUTH AMERICA 0 0 PROGRAM SERVICES TRAVEL/RESEARCH 2703 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES TRAVEL/RESEARCH 750 NORTH AMERICA 0 0 PROGRAM SERVICES EDUCATIONAL 1135 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES EDUCATIONAL 288 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES MARKETING 2676 SOUTH AMERICA 0 0 PROGRAM SERVICES TRAVEL/EDUCATIONAL 462 SOUTH AMERICA 0 0 PROGRAM SERVICES TRAVEL/RECRUITING 2918 MIDDLE EAST AND NORTH AFR 0 0 PROGRAM SERVICES TRAVEL/EDUCATIONAL 7270 MIDDLE EAST AND NORTH AFR 0 0 PROGRAM SERVICES TRAVEL/RECRUITING 845 RUSSIA AND NEWLY INDEPENDENT 0 0 PROGRAM SERVICES TRAVEL/EDUCATIONAL 574 RUSSIA AND NEWLY INDEPENDENT 0 0 PROGRAM SERVICES TRAVEL/RESEARCH 1934 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES TRAVEL/EDUCATIONAL 5935 EAST ASIA AND THE PACIFIC 0 0 FUNDRAISING N/A 61 EUROPE 0 0 FUNDRAISING N/A 451 SOUTH ASIA 0 0 FUNDRAISING N/A 313 1529679 273054893 274584572 true false false false true false X X X X X X X true SD&A Teleservc Telemarketing false 153401 111574 41827 Comnet Telemarketing false 16252 14654 1598 169653 126228 43425 IL AL AK AZ CA CO DC FL KS KY MD MA MI MO MS NH NJ NY ND OH OK OR SC UT VA WV WI WA Women's Board Magritte 1356992 1287202 69790 265038 The Walk 749316 610530 138786 734064 10 2040527 1513853 526674 943300 4146835 3411585 735250 1942402 1942402 -1207152 false false 19535 28145 true 1.00000 19535 28145 28145 -8610 IL true false true false 0.33000 0.67000 Alison Sowden 111 South Michigan Avenue Chicago IL 60603 false false true 0 0 Student Scholarships and Stipends 3292 35391752 N/A N/A Faculty Enrichment Grants 51 78900 N/A N/A Grantmaker's Description of How Grants are Used 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. 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. X X X X true true X X X X X X true true false false false false false false false false Brian Esker VP of Finance and Admin SAIC 189458 17945 28000 10811 246214 David Thurm COO Museum 405781 31771 22950 22311 482813 Douglas Druick Pres & Dir, Mus 491726 132262 118000 19416 761404 Edward McNulty Sr VP/Planning/COO 157007 157007 Elissa Tenny Provost/SVP Acad Affairs 286945 22283 57234 1012 367474 Elizabeth Grainer VP of Aux Ops 188425 1121 56000 8757 254303 Eric Anyah EVP & CFO 207090 44067 59000 15775 325932 Eugene Adams VP of IS/CIO 200392 1015 34000 24589 259996 Felice Dublon VP/Dean StdAffairs 166549 16759 14580 10695 208583 Gordon Montgomery VP of Marketing 263166 404 22950 25469 311989 Julia Getzels EVP & Gen Couns 334551 18727 45000 23898 422176 Lisa Wainwright Faculty Dean/VP Acad Admin 214485 470 19807 16684 251446 Martha Tedeschi Deputy Director for Art & Research 162193 1299 82000 23238 268730 Patricia Lawson Controller 161147 18042 54500 10395 244084 Paul Coffey Vice Provost 179982 1191 35000 12 216185 Rose Milkowski VP for Enrollment Mgmt 181655 241 16550 2426 200872 Samuel Quigley VP, CMIIT 183782 1117 17178 21861 223938 Tom Buechele VP for Campus Operations 178170 1178 29000 21601 229949 Walter Massey President, Sch 512191 26236 23903 12 562342 Part I, Line 1a: Relevant information in regards to selections on 1a. First 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. A IL Finance Authority 861091967 45200FVM8 2009-03-26 139158000 Constr./Renov. Museum Facil. false false false B IL Finance Authority 861091967 45200F3N7 2010-06-09 113537854 See Part VI false false false C IL Finance Authority 861091967 45203HMP4 2012-10-18 66292422 See Part VI false false false A 80000000 139158000 139158000 false false true true B 2405000 113537854 5986 113531868 true true true true C 16890000 66292422 66292422 false true true true A false false false false 0.00000 0.00000 0.00000 false false true C false false false false 0.00000 0.00000 0.00000 false false true A false false true false false NA false NA false true B false true false false false NA false NA false true C false true false false false NA false NA false true A true B true C true Part VI Part 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. Northern Trust Trustee/CEO 605299 Inv.Custody/Perf Serv. false Commonwealth Edison ComEd Trustee/CEO 1081350 ComEd Electrical Ser false Commonwealth Edison ComEd Trustee/Dire 1081350 ComEd Electrical Ser false Schedule L, Part V Supplemental Information Northern 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. X 880 See Part II X 4 See Part II X 39647 FMV X 143 5791378 FMV X AIRFARE 270 105103 FMV X DEPT'L SUPPLIES 42 101598 FMV X EXHIB SUPPLIES 1 35000 FMV X SPECIAL EVENT 217 423344 FMV 26 false true true Part I, Line 32, Hire and Use of Third Parties The Institute utilizes its investment custodian Northern Trust to receive and sell stock gifts made to the organization. Part I, Line 33, Revenues Not Reported The Institute does not capitalize its collection items nor report contributions of collection items as revenue as permitted under generally accepted accounting principles. Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et A 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 Process A 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 Conflicts 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 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 Employees The 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 Available The Institute's governing documents are available to the public via written request to the Institute and in addition, in part through applicable governmental agencies. The Institute's financial statements are available to the public via the Institute's own website, via the Illinois Attorney General's website and upon written request. The conflict of interest policy is available to the public upon written request to the Institute. Other Changes In Net Assets Or Fund Balances - Other Increases Pension Related Changes other than Net Periodic Pension Cost = $1976277 Other Changes In Net Assets Or Fund Balances - Other Increases Unrealized Appreciation on Funds Held in Trust = $4758881 Form 990, Part V, Line 7g The 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 7h Form 1098-C is not applicable to the Institute. Form 990, Part VI, Line 14 The Institute has a document retention and destruction policy that is approved by Management. Form 990, Part VII, Line 1a, Column B The 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 1 The 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). 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