California Institute Of The Arts
- Assets
- $340.7m
- Revenue
- $122.8m
- Investments
- $91.1m
- Employees
- 1,681
- Location
- Valencia, CA
- Founding
- 06/1963
- Data as of
- 06/2022
- EIN
- 95-6102146
Organization Overview
California Institute Of The Arts is located in Valencia, CA. The organization was established in 1963. According to its NTEE Classification (A25) the organization is classified as: Arts Education, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, California Institute Of The Arts employed 1,681 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. California Institute Of The Arts 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 06/2022, California Institute Of The Arts generated $122.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $106.5m during the year ending 06/2022. While expenses have increased by 3.8% 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CALARTS OFFERS VARIOUS DEGREES IN ART, CRITICAL STUDIES, DANCE, FILM/VIDEO, MUSIC AND THEATER. SEE PART III LINE 1 FOR FURTHER DETAIL.
Describe the Organization's Program Activity:
INSTRUCTION: INSTITUTE OFFERS BFAS, MFAS, MA AND DMAS IN BOTH THE VISUAL AND PERFORMING ARTS AND IS DEDICATED TO TRAINING AND NURTURING THE NEXT GENERATION OF ARTISTS. EMPHASIS IS PLACED ON NEW AND EXPERIMENTAL WORK AND STUDENTS ARE ADMITTED SOLELY ON THE BASIS OF ARTISTIC ABILITY. TO ENCOURAGE INNOVATION AND MULTI-DISCIPLINARY COLLABORATION, CALARTS SIX SCHOOLS - ART, CRITICAL STUDIES, DANCE, FILM/VIDEO, MUSIC AND THEATER - ARE ALL HOUSED UNDER ONE ROOF. DURING THE 2021/22 ACADEMIC YEAR, THE INSTITUTE ENROLLED 1437 STUDENTS.
ACADEMIC SUPPORT: EXPENDITURES PRIMARILY INCLUDE THOSE TO PROVIDE SUPPORT FOR INSTRUCTION - PROVOST OFFICE, LIBRARY, REDCAT ETC.
STUDENT SERVICES: PRIMARY PURPOSE OF EXPENDITURE IS TO CONTRIBUTE TO THE STUDENTS' EMOTIONAL AND PHYSICAL WELLBEING AND TO THEIR SOCIAL DEVELOPMENT OUTSIDE OF THE FORMAL INSTRUCTIONAL PROGRAM, INCLUDES ADMISSIONS, REGISTRAR AND FINANCIAL AID.
OTHER MISCELLANEOUS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ravi Rajan President | Officer | 50 | $452,086 |
Lori Husein Svp/cfo/treasurer | Officer | 50 | $253,768 |
Tracie Costantino Svp, Provost | Officer | 50 | $235,669 |
Natalie Adams VP And Chief Advancement Officer | 50 | $208,939 | |
Travis Preston Dean, School Of Theater | 50 | $200,788 | |
Allan Chen VP It And Chief Technology Officer | 50 | $194,885 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jon K Takata Corporation - Restoration Asbestos Removal | 6/29/22 | $1,429,386 |
F C And Sons Roofing Inc Roof Repairs | 6/29/22 | $395,597 |
Carrier Corporation Chiller Service | 6/29/22 | $1,036,855 |
Gfi Construction Inc Campus Contstruction | 6/29/22 | $348,860 |
Carpet Clearance Cornerstone Interiors Campus Rennovation | 6/29/22 | $320,872 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,459,062 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,285,407 |
| Noncash contributions included in lines 1a–1f | $115,165 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,744,469 |
| Total Program Service Revenue | $81,426,233 |
| Investment income | $9,579,048 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $143,313 |
| Net Gain/Loss on Asset Sales | $18,075,440 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $122,829,598 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $25,853,253 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,254,695 |
| Compensation of current officers, directors, key employees. | $962,475 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $41,817,052 |
| Pension plan accruals and contributions | $1,674,674 |
| Other employee benefits | $4,336,153 |
| Payroll taxes | $2,977,224 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $606,519 |
| Fees for services: Accounting | $152,056 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $578,728 |
| Fees for services: Other | $5,289,368 |
| Advertising and promotion | $196,238 |
| Office expenses | $812,656 |
| Information technology | $1,696,736 |
| Royalties | $1,900 |
| Occupancy | $0 |
| Travel | $759,038 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $98,455 |
| Interest | $647,501 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,254,229 |
| Insurance | $1,175,163 |
| All other expenses | $5,440,952 |
| Total functional expenses | $106,512,422 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $46,685,208 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $7,627,657 |
| Accounts receivable, net | $4,397,254 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $577,726 |
| Prepaid expenses and deferred charges | $1,562,640 |
| Net Land, buildings, and equipment | $64,853,745 |
| Investments—publicly traded securities | $123,206,407 |
| Investments—other securities | $91,066,273 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $679,494 |
| Total assets | $340,656,404 |
| Accounts payable and accrued expenses | $7,186,497 |
| Grants payable | $0 |
| Deferred revenue | $814,669 |
| Tax-exempt bond liabilities | $39,135,465 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,233,490 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,200,441 |
| Total liabilities | $54,570,562 |
| Net assets without donor restrictions | $73,950,060 |
| Net assets with donor restrictions | $212,135,782 |
| 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 | $340,656,404 |
Grants Recieved
Over the last fiscal year, we have identified 26 grants that California Institute Of The Arts has recieved totaling $3,842,073.
| Awarding Organization | Amount |
|---|---|
The Herb Alpert Foundation Santa Monica, CA PURPOSE: CHARITABLE | $1,147,000 |
Eileen Harris Norton Foundation Los Angeles, CA PURPOSE: TO PROVIDE SUPPORT FOR TALENTED STUDENTS IN THEIR EDUCATION OF ART. | $1,000,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $511,200 |
The Posse Foundation Inc New York, NY PURPOSE: GRANTS ARE INTENDED TO HELP SUPPORT THE POSSE INITIATIVE ON EACH CAMPUS ALTHOUGH THEY ARE NOT SPECIFICALLY RESTRICTED WITHIN THAT AND REQUIRE NO REPORTING | $500,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $134,706 |
Colburn Foundation Beverly Hills, CA PURPOSE: SUPPORT OF THE CLASSICAL ARTS | $125,000 |
Endowment Analysis
| Beg. Balance | $238,769,884 |
| Earnings | -$13,195,819 |
| Net Contributions | $655,710 |
| Other Expense | $6,495,668 |
| Grants | $3,842,332 |
| Ending Balance | $215,891,775 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Crystal Stairs Inc Los Angeles, CA | $49,664,464 | $252,729,672 |
California Institute Of The Arts Valencia, CA | $340,656,404 | $122,829,598 |
Academy Of Mathematics & Science South Inc Tucson, AZ | $124,208,680 | $62,725,140 |
Artnow Fondation San Francisco, CA | $0 | $214,158 |
Lazy Mf Trust Irvine, CA | $2,742,949 | $392,168 |
Thru Guidance Ministries Los Angeles, CA | $2,841,551 | $7,857,035 |
Inner-City Arts Los Angeles, CA | $18,610,203 | $5,566,146 |
House Of Blues Music Forward Foundation Beverly Hills, CA | $3,094,278 | $3,522,048 |
School Of Arts And Culture At Mhp San Jose, CA | $8,721,548 | $4,861,362 |
Wayne Thiebaud Foundation Sacramento, CA | $135,503,481 | $2,669,000 |
California Jazz Conservatory Inc Berkeley, CA | $7,248,479 | $2,565,384 |
Arts For Healing And Justice Network Long Beach, CA | $3,982,925 | $3,271,300 |