SAVANNAH, GA
4 risk indicators measuring financial stability and operational resilience
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Sign InSAVANNAH COLLEGE OF ART AND DESIGN INC is a 501(c)(3) with EIN 581357177, based in SAVANNAH, GA. Founded in 1978, the organization files IRS Form 990 and reported its most recent data for fiscal year 2022. In that period, it reported $776,798,715 in total revenue and $556,719,421 in total expenses, with net assets of $1,551,592,859.
BUSINESS CLASS OR CHARTER TRAVEL - SENIOR MANAGEMENT AND TRUSTEES ARE ELIGIBLE FOR BUSINESS CLASS SEATS WHEN TRAVELING ON AUTHORIZED BUSINESS. NO AMOUNT IS REPORTED AS TAXABLE INCOME FOR BUSINESS TRAVEL. THE INSTITUTION'S WHOLLY-OWNED SUBSIDIARY, ACORN LEASING, LLC, OWNS A CORPORATE AIRCRAFT TO FACILITATE THE BUSINESS TRAVEL OF SENIOR MANAGEMENT AND TRUSTEES. THE BOARD HAS ADOPTED A POLICY THAT PROHIBITS ANY NON-BUSINESS USE OF THE AIRCRAFT. WHEN APPLICABLE, IMPUTED INCOME HAS BEEN REPORTED AS TAXABLE COMPENSATION FOR ANY COMPANIONS OF LISTED PERSONS WHO ARE NOT TRAVELING FOR A BUSINESS PURPOSE. TRAVEL FOR COMPANIONS- TO FACILITATE THE ABILITY OF THE PRESIDENT AND TRUSTEES TO CONDUCT BUSINESS AND PARTICIPATE IN THE ACTIVITIES OF THE UNIVERSITY, TRAVEL FOR COMPANIONS/MINOR CHILDREN HAS BEEN PROVIDED AT TIMES. IN SUCH CASES, THE COST OF THE FLIGHT (IF THE TRAVEL WAS VIA COMMERCIAL CARRIER) OR THE APPROPRIATE AMOUNT OF IMPUTED INCOME (PURSUANT TO TAX REGULATIONS REGARDING PERSONAL USE OF CORPORATE AIRCRAFT) HAS BEEN TREATED AS A TAXABLE BENEFIT AND REPORTED AS COMPENSATION. THE BENEFIT WAS PROVIDED DUE TO EXTENSIVE TRAVEL BEING REQUIRED BETWEEN MULTIPLE LOCATIONS (SAVANNAH, ATLANTA, LACOSTE, FRANCE AND HONG KONG). HOUSING ALLOWANCE - AS IS STANDARD PRACTICE FOR UNIVERSITIES, THE PRESIDENT IS PROVIDED A RESIDENCE IN SAVANNAH THAT IS FREQUENTLY USED FOR BUSINESS AND/OR BUSINESS FUNCTIONS (I.E. MEETINGS, RECEPTIONS, DINNERS WITH GUESTS AND DONORS, ETC.). NO AMOUNT HAS BEEN INCLUDED IN THE PRESIDENT'S TAXABLE INCOME FOR USE OF THE PROPERTY. SINCE NOVEMBER 2014, THE PRESIDENT HAS BEEN PROVIDED A HOUSING ALLOWANCE IN CONNECTION WITH HER PERSONAL RESIDENCE IN THE ATLANTA AREA. THE HOUSING ALLOWANCE IS TREATED AS TAXABLE WAGES AND IS INCLUDED IN COLUMN (B) OF PART VII OF THIS FORM 990 AND IN COLUMN (B) (III) OF SCHEDULE J PART II.
Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In| 2022 | 2021 | Change | |
|---|---|---|---|
| Revenue | $776,798,715 | $622,387,162 | +0.2% |
| Expenses | $556,719,421 | $515,629,941 | +0.1% |
| Net Income | $220,079,294 | $106,757,221 | +1.1% |
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 |
|---|---|---|---|---|---|---|
| GARRY BROWN | TRUSTEE | 2.00 |
Director
|
$0 | $0 | $0 |
| ROBERT L NARDELLI | TRUSTEE | 2.00 |
Director
|
$0 | $0 | $0 |
| LUCY COOKSON | TRUSTEE | 2.00 |
Director
|
$0 | $0 | $0 |
| ANITA THOMAS | TRUSTEE | 2.00 |
Director
|
$0 | $0 | $0 |
| JOHN G KENNEDY III | TRUSTEE | 2.00 |
Director
|
$0 | $0 | $0 |
| STUART SAUNDERS | TRUSTEE | 2.00 |
Director
|
$0 | $0 | $0 |
| ALAN B WHITAKER III | TRUSTEE | 2.00 |
Director
|
$0 | $0 | $0 |
| VERONICA BIGGINS | TRUSTEE | 2.00 |
Director
|
$0 | $0 | $0 |
| SALLY WARANCH RAJCIC | TRUSTEE | 2.00 |
Director
|
$0 | $0 | $0 |
| PAULA WALLACE | PRESIDENT | 60.00 |
Officer
|
$2,689,255 | $51,466 | $2,740,721 |
| GLENN WALLACE | CHIEF OPERATING OFFICER | 50.00 |
Officer
|
$835,689 | $25,119 | $860,808 |
| JEFFREY JOSIAH WALLER | CHIEF FINANCIAL OFFICER | 50.00 |
Officer
|
$706,590 | $44,337 | $750,927 |
| CARMEN STOWERS | SECRETARY | 50.00 |
Officer
|
$154,845 | $29,586 | $184,431 |
| GOKHAN OZAYSIN | CHIEF ACADEMIC OFFICER | 50.00 |
Key Emp
|
$812,597 | $45,514 | $858,111 |
| PHILIP JOSEPH ALLETTO | FORMER SENIOR VP FOR STUDENT SUCC | 50.00 |
Key Emp
|
$292,567 | $18,478 | $311,045 |
| JOHN BUCKOVICH | VP FOR SCAD UNIVERSITY SAF | 50.00 |
Key Emp
|
$265,481 | $27,922 | $293,403 |
| MAUREEN GARVIN | DEAN, FOUNDATIONS & FINE A | 50.00 |
Key Emp
|
$223,302 | $19,935 | $243,237 |
| BRADFORD GRANT | SR. VP FOR IT | 50.00 |
Highest
|
$476,926 | $42,382 | $519,308 |
| LESLEY CAMILLE HANAK | CHIEF HUMAN RESOURCES OFFI | 50.00 |
Highest
|
$513,181 | $42,862 | $556,043 |
| STEVE MINEO | VP FOR ADMISSION | 50.00 |
Highest
|
$345,527 | $38,520 | $384,047 |
| HANNAH FLOWER | VP FOR INT'L STUD SVC & LE | 50.00 |
Highest
|
$377,341 | $26,447 | $403,788 |
| JASON FOX | VP, ACADEMIC SERVICES | 40.00 |
Highest
|
$284,759 | $14,316 | $299,075 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $776,798,715 | $556,719,421 | $1,850,705,072 | $220,079,294 |
| 2022 | $622,387,162 | $515,629,941 | $1,625,921,643 | $106,757,221 |
| 2021 | $558,103,874 | $413,811,889 | $1,487,741,651 | $144,291,985 |
| 2020 | $587,003,201 | $434,933,509 | $1,297,162,714 | $152,069,692 |
| 2019 | $573,660,202 | $421,305,933 | $1,151,236,394 | $152,354,269 |
| 2018 | $529,328,820 | $387,957,300 | $996,773,713 | $141,371,520 |
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