Columbia College Chicago

EIN: 366112087 501(c)(3) Education

Chicago, IL

Total Revenue
$250,712,341
Total Expenses
$270,273,011
Total Assets
$476,636,857
Net Assets
$304,611,847
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1890
Legal Domicile
IL
Phone
3123697162
Tax Period
2023-09-01 to 2024-08-31

Columbia College Chicago, founded in 1890, is a major nonprofit in the Education sector that reported $251.9M in total revenue in fiscal year 2017. Revenue decreased 9% compared to the prior year. Expenses of $225.5M left a modest 10% surplus.

Mission

THE ORGANIZATION'S MISSION IS TO EDUCATE STUDENTS FOR CREATIVE OCCUPATIONS IN DIVERSE FIELDS OF ARTS AND MEDIA.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $5,816,167
Program Service Revenue $217,570,149
Investment Income $26,984,054
Other Revenue $341,971
TOTAL REVENUE $250,712,341

Expense Breakdown

Grants Paid $83,056,022
Salaries & Benefits $102,562,410
Fundraising Expenses $2,151,491
Program Expenses $224,529,843
Other Expenses $84,589,579
TOTAL EXPENSES $270,273,011

Year-over-Year Comparison

2023 2022 Change
Revenue $250,712,341 $239,170,569 +0.0%
Expenses $270,273,011 $267,151,138 +0.0%
Net Income $-19,560,670 $-27,980,569 -0.3%
Key Indicators
✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

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

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Governance

Voting Members
23
Independent Members
22
Employees
2836
Volunteers
100

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✓ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
7
$2,197,982
Total Directors
30
$1,574,126
Key Employees
4
$1,158,807
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BARRY M SABLOFF SECRETARY 1.0
Officer Director
$0 $0 $0
HUGH C WILLIAMS VICE CHAIR 1.0
Officer Director
$0 $0 $0
JERRY TARRER INTERIM PRESIDENT and CEO - Partial Year 40.0
Officer Director
$300,631 $63,216 $363,847
JOHN MCLAIN HOLMES CHAIRMAN OF THE BOARD 1.0
Officer Director
$0 $0 $0
KWANG-WU KIM PRESIDENT AND CEO, TRUSTEE, EX-OFFICIO - Partial Year 40.0
Officer Director
$917,404 $292,875 $1,210,279
ALLISON GRANT WILLIAMS TRUSTEE - Partial Year 1.0
Director
$0 $0 $0
ANDREAS WALDBURG-WOLFEGG TRUSTEE 1.0
Director
$0 $0 $0
ARJUN AGGARWAL TRUSTEE - Partial Year 1.0
Director
$0 $0 $0
ARLEN RUBIN TRUSTEE 1.0
Director
$0 $0 $0
AVERILL LEVITON TRUSTEE 1.0
Director
$0 $0 $0
CAYLA WEISBERG TRUSTEE - Partial Year 1.0
Director
$0 $0 $0
IMAD I QASIM TRUSTEE 1.0
Director
$0 $0 $0
JOHN R GEHRON TRUSTEE 1.0
Director
$0 $0 $0
KAREN JONES TRUSTEE, EX-OFFICIO 1.0
Director
$0 $0 $0
LEN AMATO TRUSTEE 1.0
Director
$0 $0 $0
LUIS DE LA PARRA TRUSTEE - Partial Year 1.0
Director
$0 $0 $0
MELISSA DALRYMPLE TRUSTEE - Partial Year 1.0
Director
$0 $0 $0
MICHAEL GOI TRUSTEE - Partial Year 1.0
Director
$0 $0 $0
PAUL BROUCEK TRUSTEE 1.0
Director
$0 $0 $0
PAUL GARNES TRUSTEE 1.0
Director
$0 $0 $0
PETER PACE JR TRUSTEE - Partial Year 1.0
Director
$0 $0 $0
PHIL ALPHONSE TRUSTEE - Partial Year 1.0
Director
$0 $0 $0
RICH NANDA TRUSTEE - Partial Year 1.0
Director
$0 $0 $0
RICHARD POULTON TRUSTEE 1.0
Director
$0 $0 $0
ROBERT A WISLOW TRUSTEE 1.0
Director
$0 $0 $0
ROBERT J BUFORD TRUSTEE 1.0
Director
$0 $0 $0
SONA WANG TRUSTEE - Partial Year 1.0
Director
$0 $0 $0
STACI R COLLINS JACKSON TRUSTEE 1.0
Director
$0 $0 $0
SUSAN V DOWNING TRUSTEE 1.0
Director
$0 $0 $0
WILLIAM WOLF TRUSTEE 1.0
Director
$0 $0 $0
MARCELLA DAVID SENIOR VP AND PROVOST 40.0
Officer
$303,201 $41,776 $344,977
PATRICIA BERGESON VP OF LEGAL AFFAIRS & GENERAL COUNSEL 40.0
Officer
$239,659 $39,220 $278,879
MICHAEL JOSEPH VP OF ENROLLMENT MANAGEMENT 40.0
Key Emp
$289,320 $68,928 $358,248
ROSITA SANDS DEPARTMENT CHAIR, DEAN OF SCHOOL OF FINE AND PERFORMING ARTS 40.0
Key Emp
$215,411 $36,135 $251,546
SHARON WILSON TAYLOR VP OF STUDENT AFFAIRS 40.0
Key Emp
$226,542 $48,341 $274,883
STEVEN COREY DEAN OF LIBERAL ARTS SCHOOL (LAS) 40.0
Key Emp
$212,914 $61,216 $274,130
ANN KALAYIL AVP FACILITIES/CONSTRUCTION 40.0
Highest
$228,607 $38,941 $267,548
KATHIE KOCH AVP AND CHIEF INFORMATION OFFICER 40.0
Highest
$266,062 $50,767 $316,829
LAURENT PERNOT CHIEF OF STAFF 40.0
Highest
$225,561 $59,908 $285,469
MIRIAM SMITH VP OF DEVELOPMENT AND ALUMNI RELATIONS 40.0
Highest
$242,664 $23,823 $266,487
TERENCE SMITH SPECIAL COUNSEL LABOR RELATIONS 40.0
Highest
$233,196 $25,086 $258,282
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $250,712,341 $270,273,011 $476,636,857 $-19,560,670
2023 $239,170,569 $267,151,138 $525,230,384 $-27,980,569
2022 $231,462,919 $261,280,814 $575,612,110 $-29,817,895
2021 $221,332,415 $248,370,433 $667,072,943 $-27,038,018
2021 $221,332,415 $248,370,433 $667,072,943 $-27,038,018
2020 $231,394,986 $238,175,763 $522,591,069 $-6,780,777
2019 $226,170,577 $224,770,968 $524,601,747 $1,399,609
2018 $251,942,785 $225,535,557 $532,448,196 $26,407,228
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