Ringling College Of Art And Design Inc
- Assets
- $401.6m
- Revenue
- $119.2m
- Investments
- $2.5m
- Employees
- 1,122
- Location
- Sarasota, FL
- Founding
- 05/1938
- Data as of
- 05/2022
- EIN
- 59-0637903
Organization Overview
Ringling College Of Art And Design Inc is located in Sarasota, FL. The organization was established in 1938. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2022, Ringling College Of Art And Design Inc employed 1,122 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ringling College Of Art And Design Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 05/2022, Ringling College Of Art And Design Inc generated $119.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $108.0m during the year ending 05/2022. While expenses have increased by 6.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Ringling College Of Art And Design Inc has awarded 28 individual grants totaling $383,261. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
RINGLING COLLEGE OF ART AND DESIGN IS A SMALL, PRIVATE COLLEGE OFFERING PROGRAMS LEADING TO DEGREES THAT PREPARE STUDENTS TO BE DISCERNING VISUAL THINKERS AND ETHICAL PRACTITIONERS IN THEIR CHOSEN AREA OF ART AND DESIGN. RINGLING'S CURRICULUM BALANCES THE TEACHING OF TECHNICAL KNOWLEDGE AND SKILLS WITH THE DEVELOPMENT OF CRITICAL, CONCEPTUAL, AND CREATIVE ABILITIES AND SUPPORTS COURSES THAT PROVIDE HISTORICAL, MULTICULTURAL, GLOBAL, AND FUTURE PERSPECTIVES. IN ADDITION TO ITS DEGREE PROGRAM, RINGLING COLLEGE OFFERS COURSES, LECTURES, EXHIBITIONS, AND OTHER ART-RELATED SERVICES TO THE LOCAL AND REGIONAL COMMUNITY THROUGH ITS GALLERY, LIBRARY, CONTINUING EDUCATION, AND COMMUNITY SERVICE PROGRAMS.
Describe the Organization's Program Activity:
TUITION AND FEES: RINGLING COLLEGE OF ART AND DESIGN PROVIDES INSTRUCTION IN VISUAL ARTS EDUCATION TO OVER 1,600 STUDENTS IN FULLY ACCREDITED FOUR-YEAR DEGREE PROGRAMS LEADING TO BFA AND BA DEGREES.
AUXILIARY: RINGLING COLLEGE OF ART AND DESIGN OPERATES VARIOUS AUXILIARY ENTERPRISES INCLUDING DINING SERVICES, HOUSING, AND BOOKSTORE SERVICES IN SUPPORT OF A RESIDENTIAL COMMUNITY WHICH SUPPORTS STUDENT DEVELOPMENT AND FOR THE CONVENIENCE OF ITS STUDENTS, FACULTY AND STAFF.
CONTINUING EDUCATION: RINGLING COLLEGE OF ART AND DESIGN PROVIDES VISUAL AND LIBERAL ARTS INSTRUCTION FOR THE COMMUNITY THROUGH VARIOUS PROGRAMS ON A NON-CREDIT BASIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Larry R Thompson President | Officer | 40 | $636,664 |
Dr Tracy A Wagner Executive Vice President | Officer | 40 | $250,552 |
Dr Mahmoud Pegah Director Of Institutional Technology | 40 | $221,076 | |
Stacey Corley VP For Advancement | 40 | $215,130 | |
Dr Peter A Mcallister VP For Academic Affairs | Officer | 40 | $204,224 |
Dr Tammy Walsh VP For Student Life/dean Of Students | 40 | $184,103 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Custodial Maintenance Inc Custodial Services | 5/30/22 | $1,750,396 |
Willis A Smith Construction Construction Services | 5/30/22 | $13,695,043 |
Chartwells Dining Services Dining Services | 5/30/22 | $2,123,176 |
Sarasota Memorial Health Care System Health Services | 5/30/22 | $1,016,141 |
Constellation Culinary Group Catering Services | 5/30/22 | $263,761 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $27,155 |
| Fundraising events | $505,990 |
| Related organizations | $0 |
| Government grants | $3,951,852 |
| All other contributions, gifts, grants, and similar amounts not included above | $13,209,659 |
| Noncash contributions included in lines 1a–1f | $590,055 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,694,656 |
| Total Program Service Revenue | $101,016,203 |
| Investment income | $1,467,403 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$15,997 |
| Net Gain/Loss on Asset Sales | -$975,055 |
| Net Income from Fundraising Events | -$141,502 |
| Net Income from Gaming Activities | -$450 |
| Net Income from Sales of Inventory | $184,608 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $119,229,866 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,300 |
| Grants and other assistance to domestic individuals. | $23,802,324 |
| Grants and other assistance to Foreign Orgs/Individuals | $13,688 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,359,334 |
| Compensation of current officers, directors, key employees. | $1,359,334 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $27,734,006 |
| Pension plan accruals and contributions | $921,712 |
| Other employee benefits | $8,470,529 |
| Payroll taxes | $299,080 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $78,611 |
| Fees for services: Accounting | $128,257 |
| Fees for services: Lobbying | $35,425 |
| Fees for services: Fundraising | $17,475 |
| Fees for services: Investment Management | $170,385 |
| Fees for services: Other | $10,185,158 |
| Advertising and promotion | $1,172,569 |
| Office expenses | $2,778,171 |
| Information technology | $2,144,032 |
| Royalties | $0 |
| Occupancy | $2,799,406 |
| Travel | $246,036 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $504,552 |
| Interest | $4,900,755 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,223,126 |
| Insurance | $2,456,622 |
| All other expenses | $226,816 |
| Total functional expenses | $107,972,065 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $41,529,868 |
| Pledges and grants receivable | $16,501,282 |
| Accounts receivable, net | $162,139 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $122,178 |
| Prepaid expenses and deferred charges | $3,574,803 |
| Net Land, buildings, and equipment | $275,547,704 |
| Investments—publicly traded securities | $55,013,939 |
| Investments—other securities | $2,467,297 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,678,808 |
| Total assets | $401,598,018 |
| Accounts payable and accrued expenses | $12,205,716 |
| Grants payable | $0 |
| Deferred revenue | $1,491,874 |
| Tax-exempt bond liabilities | $159,820,340 |
| Escrow or custodial account liability | $20,501 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $4,468,555 |
| Other liabilities | $1,745,499 |
| Total liabilities | $179,752,485 |
| Net assets without donor restrictions | $155,706,629 |
| Net assets with donor restrictions | $66,138,904 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $401,598,018 |
Grants Awarded
Over the last fiscal year, Ringling College Of Art And Design Inc has awarded $15,300 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: AWARD EVENT SUPPORT | $8,800 |
Sarasota, FL PURPOSE: GENERAL SUPPORT | $6,500 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Ringling College Of Art And Design Inc has recieved totaling $100,500.
| Awarding Organization | Amount |
|---|---|
Kutya Major Foundation Sarasota, FL PURPOSE: PRECOLLEGE SCHOLARSHIP FUND | $60,000 |
Morganroth Morrison Foundation Sarasota, FL PURPOSE: TO FURTHER ITS EXEMPT PURPOSE | $20,000 |
Kutya Major Foundation Sarasota, FL PURPOSE: HIGH SCHOOL INTERNSHIPSAM HIGH SCHOOL INTERNSHIP | $15,500 |
Allyn Foundation Incorporated A Delaware Corp Hinsdale, IL PURPOSE: EDUCATIONAL SERVICES | $5,000 |
Endowment Analysis
| Beg. Balance | $66,932,346 |
| Earnings | -$2,019,418 |
| Net Contributions | $1,879,236 |
| Other Expense | $1,258,325 |
| Grants | $1,301,800 |
| Ending Balance | $64,232,039 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Everglades College Inc Fort Lauderdale, FL | $670,294,753 | $647,335,916 |
Rollins College Winter Park, FL | $852,704,104 | $217,797,924 |
Berry College Inc Mount Berry, GA | $1,445,846,752 | $178,933,031 |
Florida Southern College Lakeland, FL | $276,996,972 | $143,874,205 |
Southeastern University Inc Lakeland, FL | $136,483,124 | $143,033,375 |
Eckerd College St Petersburg, FL | $226,479,498 | $127,879,721 |
Palm Beach Atlantic University Inc West Palm Beach, FL | $243,912,659 | $119,213,584 |
Spelman College Atlanta, GA | $855,779,306 | $182,970,731 |
Ringling College Of Art And Design Inc Sarasota, FL | $401,598,018 | $119,229,866 |
Morehouse College Atlanta, GA | $491,950,493 | $206,029,432 |
Bethune-Cookman University Daytona Beach, FL | $214,110,723 | $117,726,569 |
Birmingham-Southern College Birmingham, AL | $106,162,162 | $42,694,906 |