Art Institute Of Chicago

Organization Overview

Art Institute Of Chicago is located in Chicago, IL. The organization was established in 1925. According to its NTEE Classification (B40) the organization is classified as: Higher Education, under the broad grouping of Education and related organizations. As of 06/2021, Art Institute Of Chicago employed 3,640 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Art Institute Of Chicago 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 06/2021, Art Institute Of Chicago generated $324.7m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $290.7m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (0.2%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE ART INSTITUTE OF CHICAGO, A NOT-FOR-PROFIT CORPORATION, IS BOTH A MUSEUM AND AN INSTITUTION OF HIGHER EDUCATION THAT EXISTS TO PROVIDE APPRECIATION AND EDUCATION IN VISUAL FINE ARTS AND DESIGN.

Describe the Organization's Program Activity:

FOR MORE THAN 150 YEARS, THE SCHOOL OF THE ART INSTITUTE OF CHICAGO (SAIC) HAS BEEN A LEADER IN EDUCATING THE WORLD'S MOST INFLUENTIAL ARTISTS, DESIGNERS, AND SCHOLARS. SAIC IS AN ACCREDITED COLLEGE OF ART AND DESIGN OFFERING UNDERGRADUATE, GRADUATE, AND POST-BACCALAUREATE DEGREE PROGRAMS FOR STUDIO ARTISTS, ART EDUCATORS, ART THERAPISTS, ARCHITECTS, DESIGNERS, WRITERS, AND ART HISTORIANS. SAIC'S FINE ARTS GRADUATE PROGRAM RANKS NUMBER TWO IN THE NATION BY U.S. NEWS AND WORLD REPORT, AND THE SCHOOL OFFERS WORLD-CLASS RESOURCES INCLUDING THE ART INSTITUTE OF CHICAGO MUSEUM, ON-CAMPUS GALLERIES, AND STATE-OF-THE-ART FACILITIES. IN FISCAL YEAR 2021, THE AVERAGE ACADEMIC YEAR FULL-TIME-EQUIVALENT ENROLLMENT OF DEGREE-SEEKING STUDENTS WAS 2,638 INCLUDING INTERNATIONAL STUDENTS FROM 79 COUNTRIES.


THE ART INSTITUTE OF CHICAGO SHARES ITS SINGULAR COLLECTIONS WITH OUR CITY AND THE WORLD. WE COLLECT, CARE FOR, AND INTERPRET WORKS OF ART ACROSS TIME, CULTURES, GEOGRAPHIES, AND IDENTITIES, CENTERING THE VISION OF ARTISTS AND MAKERS. WE RECOGNIZE THAT ALL ART IS MADE IN A PARTICULAR CONTEXT, DEMANDING CONTINUAL, DYNAMIC RECONSIDERATION IN THE PRESENT. WE ARE A PLACE OF GATHERING; WE FOSTER THE EXCHANGE OF IDEAS AND INSPIRE AN EXPANSIVE, INCLUSIVE UNDERSTANDING OF HUMAN CREATIVITY. THE MUSEUM ACHIEVES THIS THROUGH BUILDING AND STEWARDING ITS RENOWNED PERMANENT COLLECTION, PRODUCING EDUCATIONAL PROGRAMMING AROUND THE COLLECTION WITH PERFORMANCES, GALLERY TOURS, LECTURES, READINGS, AND OTHER SPECIAL EVENTS, AND PRESENTING WORLD CLASS EXHIBITIONS HIGHLIGHTING BOTH ITS COLLECTION AND OBJECTS LOANED FROM OTHER INSTITUTIONS. IN FY21, BECAUSE OF THE GLOBAL COVID-19 PANDEMIC, SOME OF THIS WORK MOVED ONLINE, BUT OUR PRESENTATION AND INTERPRETATION OF THE COLLECTION CONTINUED UNABATED. EXHIBITIONS FEATURED WITHIN FY21 INCLUDED MONET AND CHICAGO, BISA BUTLER: PORTRAITS EXHIBITION, AND EL GRECO: AMBITION AND DEFIANCE.


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Board, Officers & Key Employees

Name (title)Compensation
Name Not Listed
Trustee
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Able Engineering Services Inc
Engineering Services
$4,318,737
Transact Campus Inc
Software Services
$1,655,729
Securitas Security Services Usa Inc
Security Services
$2,147,142
Allied Universal Security
Security Services
$3,041,974
Abm Onsite Services - Midwest Inc
Janitorial Services
$2,347,374
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$14,194,969
Fundraising events$0
Related organizations$0
Government grants $11,417,445
All other contributions, gifts, grants, and similar amounts not included above$36,154,077
Noncash contributions included in lines 1a–1f $9,563,198
Total Revenue from Contributions, Gifts, Grants & Similar$61,766,491
Total Program Service Revenue$190,847,455
Investment income $8,088,154
Tax Exempt Bond Proceeds $0
Royalties $88,110
Net Rental Income -$410,032
Net Gain/Loss on Asset Sales $61,430,072
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $2,537,927
Miscellaneous Revenue$0
Total Revenue $324,720,371

Grants Recieved

Over the last fiscal year, we have identified 16 grants that Art Institute Of Chicago has recieved totaling $90,425.

Awarding OrganizationAmount
Future Wanxiang Foundation Inc

South Barrington, IL

PURPOSE: GENERAL SUPPORT

$25,000
Sinha Kikeri Foundation

Chicago, IL

PURPOSE: EDUCATIONAL SUPPORT

$25,000
Benck Family Foundation

Naperville, IL

PURPOSE: GENERAL

$10,000
Berrien Community Foundation Inc

St Joseph, MI

PURPOSE: GENERAL SUPPORT

$10,000
Almeida Family Foundation

Chicago, IL

PURPOSE: GENERAL SUPPORT

$5,000
Allyn Foundation Incorporated A Delaware Corp

Hinsdale, IL

PURPOSE: MUSEUM PROGRAMS

$5,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$1,140,478,439
Earnings$326,587,212
Admin Expense$2,812,518
Net Contributions$63,155,109
Other Expense$55,336,674
Grants$4,792,826
Ending Balance$1,467,278,742

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