CHICAGO, IL
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)THE ART INSTITUTE OF CHICAGO, founded in 1879, is a major nonprofit in the Education sector that reported $464.4M in total revenue in fiscal year 2024. Revenue decreased 6% compared to the prior year. The organization ran a surplus of $82.5M, a strong 18% operating margin.
FROM THE INSTITUTE'S AUDITED FINANCIAL STATEMENTS: "THE VALUE OF THE ART OBJECTS IN THE PERMANENT COLLECTION, AND THE HOLDINGS OF THE LIBRARIES, ARE 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 WITH DONOR RESTRICTIONS, IN WHICH EITHER (I) THE PRINCIPAL BALANCE IS TO BE HELD IN PERPETUITY AND ONLY THE INCOME EARNED ON PRINCIPAL BALANCES MAY BE USED FOR ACQUISITIONS, OR (II) BOTH THE PRINCIPAL AND EARNED INCOME MAY BE USED FOR ACQUISITIONS; OR WITHOUT DONOR RESTRICTIONS, 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 INITIALLY ADOPTED IN 1975 AND LAST REVISED IN FISCAL YEAR 2025. THE OBJECTS ARE GENERALLY OFFERED FOR SALE AT A PUBLIC AUCTION AND THE PROCEEDS FROM SUCH DISPOSITIONS ARE CLASSIFIED AS WITH DONOR RESTRICTIONS. PROCEEDS FROM THE SALE OF COLLECTION ITEMS ARE USED TO PURCHASE OR COMMISSION WORKS OF ART FOR THE PERMANENT COLLECTION OR FOR THE DIRECT CARE OF OBJECTS WITHIN ITS PERMANENT COLLECTION. DIRECT CARE OF THE COLLECTION MEANS INVESTING IN OBJECTS IN THE MUSEUM'S PERMANENT COLLECTION BY ENHANCING THEIR LIFE, USEFULNESS, OR QUALITY, THEREBY ENSURING THEY WILL CONTINUE TO BENEFIT THE PUBLIC. DIRECT CARE INCLUDES, BUT IS NOT LIMITED TO, MAINTENANCE AND PROTECTION, CONSERVATION, AND MANAGEMENT OF THE COLLECTION. ALL WORKS OF ART AND CERTAIN LIBRARY COLLECTIONS ARE HELD FOR PUBLIC EXHIBITION, EDUCATION, OR RESEARCH; THEY 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. THEREFORE, IT IS NOT INCLUDED IN THE STATEMENTS OF FINANCIAL POSITION."
THE SCHOOL OF THE ART INSTITUTE OF CHICAGO (SAIC} IS AN ACCREDITED COLLEGE OF ART AND DESIGN OFFERING UNDERGRADUATE, GRADUATE, AND POST-BACCALAUREATE DEGREE PROGRAMS FOR STUDIO ARTISTS, ART...
THE SCHOOL OF THE ART INSTITUTE OF CHICAGO (SAIC} IS AN ACCREDITED COLLEGE OF ART AND DESIGN OFFERING UNDERGRADUATE, GRADUATE, AND POST-BACCALAUREATE DEGREE PROGRAMS FOR STUDIO ARTISTS, ART EDUCATORS, ART THERAPISTS, DESIGNERS, WRITERS, AND ART HISTORIANS. SAIC'S FINE ARTS GRADUATE PROGRAM IS RANKED 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 2025, AVERAGE ACADEMIC YEAR FULL-TIME-EQUIVALENT ENROLLMENT OF DEGREE-SEEKING STUDENTS WAS 3,323 WITH INTERNATIONAL STUDENTS FROM 80 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...
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, AND PRESENTING WORLD CLASS EXHIBITIONS HIGHLIGHTING BOTH ITS COLLECTION AND OBJECTS LOANED FROM OTHER INSTITUTIONS. IN FY25, FEATURED EXHIBITIONS INCLUDED "GEORGIA O'KEEFFE: MY NEW YORKS,""MYTH AND MARBLE: ANCIENT ROMAN SCULPTURE FROM THE TORLONIA COLLECTION,"FRIDA KAHLO'S MONTH IN PARIS: A FRIENDSHIP WITH MARY REYNOLDS."
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $464,393,130 | $493,800,993 | -0.1% |
| Expenses | $381,917,394 | $348,160,383 | +0.1% |
| Net Income | $82,475,736 | $145,640,610 | -0.4% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
Financial Distress Indicator
Liquidity & Cash Position
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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| JAMES RONDEAU | PRESIDENT, MUSEUM | 40.0 |
Officer
|
$1,024,393 | $138,751 | $1,163,144 |
| ELISSA TENNY | PRESIDENT, SAIC ENDED 07/2024 | 40.0 |
Officer
|
$753,076 | $63,745 | $816,821 |
| ALEXANDRA HOLT | EVP FOR FINANCE AND ADMIN | 40.0 |
Officer
|
$511,868 | $54,389 | $566,257 |
| EUGENE ADAMS | CHIEF INFORMATION OFFICER | 40.0 |
Highest
|
$256,998 | $213,026 | $470,024 |
| LESLIE DARLING | EVP, GENERAL CSL & SECRETARY | 40.0 |
Officer
|
$416,960 | $50,830 | $467,790 |
| SARAH GUERNSEY | DEPUTY DIR & SR VP CUR AFFAIRS | 40.0 |
Key Emp
|
$357,259 | $106,123 | $463,382 |
| AMY ALLEN | SENIOR VP, ENGAGEMENT, MUSEUM | 40.0 |
Key Emp
|
$344,764 | $102,963 | $447,727 |
| MARTIN BERGER | PROVOST & SR VP ACAD AFFAIRS | 40.0 |
Key Emp
|
$394,834 | $41,968 | $436,802 |
| DAVID NACOL | SENIOR VP, PHILANTHROPY | 40.0 |
Key Emp
|
$372,790 | $57,053 | $429,843 |
| JISEON LEE ISBARA | PRESIDENT, SCHOOL | 40.0 |
Officer
|
$354,039 | $32,755 | $386,794 |
| THOMAS BUECHELE | VP, CAMPUS OPERATIONS, SCHOOL | 40.0 |
Key Emp
|
$253,337 | $112,019 | $365,356 |
| DENISE BANKS | CHIEF HR OFFICER | 40.0 |
Key Emp
|
$311,123 | $33,632 | $344,755 |
| ROSE MILKOWSKI | VP, ENROLLMENT MANAGEMENT | 40.0 |
Key Emp
|
$315,330 | $29,129 | $344,459 |
| KATHRYN RAHN | SR VP, MARKETING & COMMS | 40.0 |
Highest
|
$286,317 | $50,885 | $337,202 |
| MATTHEW NORRIS | VP, ENTERPRISE SOFTWARE ANALYT | 40.0 |
Highest
|
$252,595 | $73,024 | $325,619 |
| EVELYN JEFFERS | FORMER COO, MUSEUM | 0.0 |
|
$301,728 | $22,367 | $324,095 |
| ANN GOLDSTEIN | DEPUTY DIR & SR CURATOR AT LG | 40.0 |
Highest
|
$283,659 | $39,159 | $322,818 |
| CAMILLE MARTIN-THOMSEN | DEAN OF FACULTY & VP ACAD | 40.0 |
Key Emp
|
$278,518 | $43,491 | $322,009 |
| EMILY BENEDICT | VP, CAMPUS OPERATIONS, MUSEUM | 40.0 |
Key Emp
|
$268,680 | $48,057 | $316,737 |
| ANTOINETTE MURRIL | DEPUTY CHIEF HR OFFICER | 40.0 |
Highest
|
$252,948 | $30,002 | $282,950 |
| LISA WAINWRIGHT | FORMER FAC DEAN/VP ACAD DEAN | 40.0 |
|
$210,983 | $38,290 | $249,273 |
| COURTNEY ROWE | VP FOR ADV, SAIC ENDED 08/2024 | 40.0 |
Key Emp
|
$175,444 | $21,841 | $197,285 |
| ERIC P LEFKOFSKY | CHAIR | 1.0 |
Officer
Director
|
$0 | $0 | $0 |
| DARREL HACKETT | VICE CHAIR | 1.0 |
Officer
Director
|
$0 | $0 | $0 |
| SAMUEL M MENCOFF | VICE CHAIR | 1.0 |
Officer
Director
|
$0 | $0 | $0 |
| SYLVIA M NEIL | VICE CHAIR | 1.0 |
Officer
Director
|
$0 | $0 | $0 |
| MICHAEL J SACKS | VICE CHAIR | 1.0 |
Officer
Director
|
$0 | $0 | $0 |
| DAVID J VITALE | VICE CHAIR | 1.0 |
Officer
Director
|
$0 | $0 | $0 |
| PAUL J CARBONE | TREASURER | 1.0 |
Officer
Director
|
$0 | $0 | $0 |
| ARJUN AGGARWAL | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| FRANCES BEATTY | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| ANNE SEARLE BENT | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| HEIJI CHOY BLACK | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| ANITA BLANCHARD | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| MICHELLE BOONE | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| LESLIE BUCHBINDER | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| JACOLYN BUCKSBAUM | TRUSTEE - AS OF 11/12/24 | 1.0 |
Director
|
$0 | $0 | $0 |
| ROBERT J BUFORD | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| LINDA SMITH BUONANNO | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| SCOTT CANEL | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| HONGHONG CHEN | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| LESTER N CONEY | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| RITA SOLA COOK | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| A STEVEN CROWN | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| JILL DELANEY | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| SHAWN M DONNELLEY | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| JANET DUCHOSSOIS | TRUSTEE - ENDED 11/12/24 | 1.0 |
Director
|
$0 | $0 | $0 |
| FRED EYCHANER | TRUSTEE - ENDED 11/12/24 | 1.0 |
Director
|
$0 | $0 | $0 |
| LORI GRAY FAVERSHAM | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| STEPHANIE SKESTOS GABRIELE | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| DENISE B GARDNER | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| SARAH N GARVEY | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| KAREN Z GRAY-KREHBIEL | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| JOSEPH P GROMACKI | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| ADNAAN HAMID | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| CARYN HARRIS | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| CAROL HORVITZ | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| PAMELA JOYNER | TRUSTEE - ENDED 5/9/25 | 1.0 |
Director
|
$0 | $0 | $0 |
| CHRISTOPHER KEOGH | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| KIP KIRKPATRICK | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| JAY FREDERICK KREHBIEL | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| JOSEF LAKONISHOK | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| LAWRENCE F LEVY | TRUSTEE - ENDED 11/12/24 | 1.0 |
Director
|
$0 | $0 | $0 |
| ROBERT M LEVY | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| JOHN F MANLEY | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| JOE MANSUETO | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| HOWARD M MCCUE III | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| ERIC T MCKISSACK | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| CARY D MCMILLAN | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| USHA MITTAL | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| KRISTIN REY | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| MICHAEL POLSKY | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| ANNE REYES | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| LINDA JOHNSON RICE | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| ANDREW M ROSENFIELD | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| E SCOTT SANTI | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| MAMADOU-ABOU SARR | TRUSTEE - ENDED 6/11/25 | 1.0 |
Director
|
$0 | $0 | $0 |
| ANITA K SINHA | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| MAURICE SMITH | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| ALEXANDER STUART | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| MARILYNN THOMA | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| JOHN VANDERLINDEN | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| FREDERICK H WADDELL | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| ALEX WASHINGTON | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| REEVE B WAUD | TRUSTEE | 1.0 |
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2025 | $464,393,130 | $381,917,394 | $2,194,246,798 | $82,475,736 |
| 2024 | No data | No data | No data | No data |
| 2023 | $359,509,602 | $339,959,523 | $1,886,077,791 | $19,550,079 |
| 2022 | $414,893,991 | $299,911,678 | $1,830,546,900 | $114,982,313 |
| 2021 | $324,720,371 | $290,704,939 | $2,023,763,079 | $34,015,432 |
| 2020 | $351,772,088 | $316,818,865 | $1,665,671,481 | $34,953,223 |
| 2019 | $376,442,984 | $324,519,159 | $1,652,785,035 | $51,923,825 |
| 2018 | $347,404,695 | $317,307,084 | $1,623,214,581 | $30,097,611 |
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