Art Center College Of Design
- Assets
- $392.6m
- Revenue
- $145.0m
- Investments
- $108.5m
- Employees
- 2,151
- Location
- Pasadena, CA
- Founding
- 02/1951
- Data as of
- 06/2023
- EIN
- 95-1921340
Organization Overview
Art Center College Of Design is located in Pasadena, CA. The organization was established in 1951. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2023, Art Center College Of Design employed 2,151 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Art Center College Of Design 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 06/2023, Art Center College Of Design generated $145.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $149.6m during the year ending 06/2023. While expenses have increased by 4.6% per year over the past 8 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ART CENTER COLLEGE OF DESIGN OPERATES AN INDEPENDENT, FOUR-YEAR CURRICULUM TO EDUCATE ARTISTS AND DESIGNERS IN COMMUNICATION ARTS AND INDUSTRIAL DESIGN THAT EXTENDS ITS LEGACY OF PROFESSIONAL ART AND DESIGN PRACTICE AND ENABLES ITS GRADUATES TO REALIZE SUCCESS, FULFILLMENT, AND RECOGNITION IN THEIR CHOSEN FIELDS.
Describe the Organization's Program Activity:
THE COLLEGE OPERATES AN INDEPENDENT, FOUR-YEAR CURRICULUM TO EDUCATE ARTISTS AND DESIGNERS IN COMMUNICATION ARTS AND INDUSTRIAL DESIGN. THE COLLEGE OFFERS A BACHELOR OF FINE ARTS DEGREE IN SIX MAJORS (CREATIVE DIRECTION; FILM; FINE ART; GRAPHIC DESIGN; ILLUSTRATION; AND PHOTOGRAPHY AND IMAGING) AND A BACHELOR OF SCIENCE DEGREE IN FIVE MAJORS (ENTERTAINMENT DESIGN; INTERACTION DESIGN; PRODUCT DESIGN; SPATIAL EXPERIENCE DESIGN; AND TRANSPORTATION DESIGN). GRADUATE PROGRAMS LEAD TO THE MASTER OF FINE ARTS DEGREE IN: FILM; ART; MEDIA DESIGN PRACTICES; AND GRAPHIC DESIGN. THE GRADUATE PROGRAMS THAT OFFER THE MASTER OF SCIENCE DEGREE ARE: FURNITURE, LIGHTING & FIXTURES; SPATIAL EXPERIENCE DESIGN; INDUSTRIAL DESIGN; AND TRANSPORTATION SYSTEMS AND DESIGN. TWO GRADUATE PROGRAMS AWARD AN ONLINE MASTER OF DESIGN (MDES) DEGREE IN BRAND DESIGN AND STRATEGY AND INTERACTION DESIGN. ALL EXPENDITURES RELATE TO ACADEMIC INSTRUCTION, PROGRAM SUPPORT AND OPERATION OF THE COLLEGE. THE FTE ENROLLMENT FOR JULY 2022 TO JUNE 2023 WAS APPROXIMATELY 2,287 (FALL 2022), 2,131 (SPRING 2023) AND 942 (SUMMER 2023) STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lorne M Buchman President/ceo (thru 6/2022) | Officer | 0 | $643,592 |
Karen Hofmann President/ceo | OfficerTrustee | 40 | $387,955 |
Richard Haluschak Svp, Chief Financial & Admin Officer | Officer | 40 | $329,613 |
Emily Laskin Svp, Development (thru 9/2022) | Officer | 40 | $256,133 |
Tom Stern Svp, Admissions & Enrollment Mgmt | Officer | 40 | $239,532 |
Jered Gold Vp, Marketing & Comms (thru 12/2022) | Officer | 40 | $227,794 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Del Amo Construction Inc Construction Services | 6/29/23 | $7,427,234 |
Securitas Security Services Usa Inc Security Services | 6/29/23 | $3,795,288 |
Acco Engineered Systems Inc Construction Services | 6/29/23 | $1,873,091 |
Pbm Facility Services Janitorial Services | 6/29/23 | $1,409,623 |
Darin Johnstone Architects Architectural Services | 6/29/23 | $1,081,979 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $175,480 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,932,237 |
| Noncash contributions included in lines 1a–1f | $202,040 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,107,717 |
| Total Program Service Revenue | $139,073,193 |
| Investment income | $1,580,801 |
| Tax Exempt Bond Proceeds | $885,337 |
| Royalties | $0 |
| Net Rental Income | $267,680 |
| Net Gain/Loss on Asset Sales | -$899,581 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $144,955,105 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $27,430,473 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,610,328 |
| Compensation of current officers, directors, key employees. | $1,680,136 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $57,006,505 |
| Pension plan accruals and contributions | $3,882,891 |
| Other employee benefits | $6,949,455 |
| Payroll taxes | $4,456,746 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $777,974 |
| Fees for services: Accounting | $154,320 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $33,240 |
| Fees for services: Investment Management | $347,895 |
| Fees for services: Other | $10,607,203 |
| Advertising and promotion | $357,115 |
| Office expenses | $7,560,239 |
| Information technology | $7,703,399 |
| Royalties | $0 |
| Occupancy | $5,867,219 |
| Travel | $1,114,306 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $115,850 |
| Interest | $3,173,083 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,098,617 |
| Insurance | $2,567,977 |
| All other expenses | $0 |
| Total functional expenses | $149,599,946 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,971,526 |
| Savings and temporary cash investments | $32,100,667 |
| Pledges and grants receivable | $2,332,317 |
| Accounts receivable, net | $5,184,900 |
| Loans from Officers, Directors, or Controlling Persons | $230,000 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $137,090 |
| Prepaid expenses and deferred charges | $2,001,669 |
| Net Land, buildings, and equipment | $169,264,259 |
| Investments—publicly traded securities | $62,888,285 |
| Investments—other securities | $108,545,991 |
| Investments—program-related | $40,569 |
| Intangible assets | $0 |
| Other assets | $1,899,345 |
| Total assets | $392,596,618 |
| Accounts payable and accrued expenses | $13,530,143 |
| Grants payable | $0 |
| Deferred revenue | $12,077,726 |
| Tax-exempt bond liabilities | $144,029,659 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $117,296 |
| Total liabilities | $169,754,824 |
| Net assets without donor restrictions | $122,294,713 |
| Net assets with donor restrictions | $100,547,081 |
| 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 | $392,596,618 |