RINGLING COLLEGE OF ART AND DESIGN INC

EIN: 590637903 501(c)(3) Education

SARASOTA, FL

Total Revenue
$139,210,850
Total Expenses
$130,987,953
Total Assets
$428,492,535
Net Assets
$260,949,973
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Financial Trends

Organization Details

Formation Year
1931
Legal Domicile
FL
Principal Officer
LARRY R THOMPSON
Phone
9413515100
Tax Period
2024-06-01 to 2025-05-31

RINGLING COLLEGE OF ART AND DESIGN INC, founded in 1931, is a major nonprofit in the Education sector that reported $139.2M in total revenue in fiscal year 2024. Expenses of $131.0M left a modest 6% surplus.

Mission

COLLECTIONS THE COLLEGE'S POLICY IS TO CAPITALIZE DONATED WORKS OF ART AT FAIR VALUE AND PURCHASED WORKS OF ART AT COST IF NOT PRESERVED AND HELD FOR PUBLIC EXHIBITION OR IF INTENDED TO BE SOLD WITHOUT PROCEEDS USED FOR PURCHASES OF WORKS OF ART. OF THE $11,366,295 AND $5,878,861 PRESENTED IN OTHER NONCURRENT ASSETS ON THE STATEMENTS OF FINANCIAL POSITION, $5,812,393 AND $5,682,843 AS OF MAY 31, 2025 AND 2024, RESPECTIVELY, ARE DONATED WORKS OF ART WHICH ARE BEING HELD WITH THE INTENT OF RESALE AND DO NOT MEET THE DEFINITION OF A COLLECTION. THE COLLEGE'S COLLECTIONS INCLUDE WORKS OF ART THAT ARE MAINTAINED IN THE COLLEGE'S GALLERIES AND LIBRARY AND LOANED TO ON-CAMPUS DEPARTMENTS AND LOCAL ENTITIES. THESE COLLECTIONS ARE PROTECTED AND PRESERVED FOR PUBLIC EXHIBITION, EDUCATION AND RESEARCH. EACH OF THE ITEMS IS CATALOGED, PRESERVED, AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED PERIODICALLY. THE COLLECTIONS, WHICH WERE ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE COLLEGE'S INCEPTION, ARE NOT RECOGNIZED AS ASSETS IN THE STATEMENTS OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN NET ASSETS WITHOUT DONOR RESTRICTIONS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED OR IN NET ASSETS WITH DONOR RESTRICTIONS IF THE ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS.

Program Service Accomplishments

Program 1
Expenses: $82,604,959 Revenue: $95,077,377

TUITION AND FEES: RINGLING COLLEGE OF ART AND DESIGN PROVIDES INSTRUCTION IN VISUAL ARTS EDUCATION TO OVER 1,600 STUDENTS IN FULLY ACCREDITED FOUR-YEAR DEGREE PROGRAMS LEADING TO BFA AND BA DEGREES.

Program 2
Expenses: $21,095,332 Revenue: $19,630,406

AUXILIARY: RINGLING COLLEGE OF ART AND DESIGN OPERATES VARIOUS AUXILIARY ENTERPRISES INCLUDING DINING SERVICES, HOUSING, AND BOOKSTORE SERVICES IN SUPPORT OF A RESIDENTIAL COMMUNITY WHICH SUPPORTS...

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AUXILIARY: RINGLING COLLEGE OF ART AND DESIGN OPERATES VARIOUS AUXILIARY ENTERPRISES INCLUDING DINING SERVICES, HOUSING, AND BOOKSTORE SERVICES IN SUPPORT OF A RESIDENTIAL COMMUNITY WHICH SUPPORTS STUDENT DEVELOPMENT AND FOR THE CONVENIENCE OF ITS STUDENTS, FACULTY AND STAFF.

Program 3
Expenses: $10,372,410 Revenue: $1,121,156

COMMUNITY OUTREACH: RINGLING COLLEGE OF ART AND DESIGN PROVIDES VISUAL AND LIBERAL ARTS INSTRUCTION FOR THE COMMUNITY THROUGH VARIOUS PROGRAMS ON A NON-CREDIT BASIS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $19,789,022
Program Service Revenue $115,656,556
Investment Income $4,275,318
Other Revenue $-510,046
TOTAL REVENUE $139,210,850

Expense Breakdown

Grants Paid $26,506,904
Salaries & Benefits $48,692,616
Fundraising Expenses $2,247,805
Program Expenses $114,072,701
Other Expenses $55,788,433
TOTAL EXPENSES $130,987,953

Year-over-Year Comparison

2024 2023 Change
Revenue $139,210,850 $137,542,088 +0.0%
Expenses $130,987,953 $125,865,417 +0.0%
Net Income $8,222,897 $11,676,671 -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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Governance

Voting Members
40
Independent Members
40
Employees
1198
Volunteers
300

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
6
$959,607
Total Directors
40
$0
Key Employees
2
$680,737
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DR JOEL MORGANROTH CHAIR 1.00
Officer Director
$0 $0 $0
ALI BAHAJ VICE-CHAIR 1.00
Officer Director
$0 $0 $0
TERI HANSEN TREASURER 1.00
Officer Director
$0 $0 $0
WILLIE STANFIELD SECRETARY 1.00
Officer Director
$0 $0 $0
RAVINDRANATH AKHOURY TRUSTEE 1.00
Director
$0 $0 $0
ROBERT BARTNER TRUSTEE 1.00
Director
$0 $0 $0
BARBARA BASCH TRUSTEE 1.00
Director
$0 $0 $0
DR ALEX BEAVERS JR TRUSTEE 1.00
Director
$0 $0 $0
CJ CALLINS TRUSTEE 1.00
Director
$0 $0 $0
ELAINE CROUSE TRUSTEE 1.00
Director
$0 $0 $0
MAURICE CUNNIFFE TRUSTEE 1.00
Director
$0 $0 $0
RAY DILLMAN TRUSTEE 1.00
Director
$0 $0 $0
PING FAULHABER TRUSTEE 1.00
Director
$0 $0 $0
LARRY GARBERDING TRUSTEE 1.00
Director
$0 $0 $0
JULIE HARRIS TRUSTEE 1.00
Director
$0 $0 $0
MICHELLE HOOPER TRUSTEE 1.00
Director
$0 $0 $0
STEVE HUTCHINSON TRUSTEE 1.00
Director
$0 $0 $0
WILIAM KAHANE TRUSTEE 1.00
Director
$0 $0 $0
AMY KASLOW TRUSTEE 1.00
Director
$0 $0 $0
MICHAEL KLEIN TRUSTEE 1.00
Director
$0 $0 $0
FLORA MAJOR TRUSTEE 1.00
Director
$0 $0 $0
NANCY MARKLE TRUSTEE 1.00
Director
$0 $0 $0
FRANK MARTUCCI TRUSTEE 1.00
Director
$0 $0 $0
ELEANOR MAXHEIM TRUSTEE 1.00
Director
$0 $0 $0
MARY ANN MEYER TRUSTEE 1.00
Director
$0 $0 $0
JONATHAN MITCHELL TRUSTEE 1.00
Director
$0 $0 $0
KARL NEWKIRK TRUSTEE 1.00
Director
$0 $0 $0
ROSEMARY OBERNDORF TRUSTEE 1.00
Director
$0 $0 $0
MATT PRICE TRUSTEE 1.00
Director
$0 $0 $0
RICHARD RIVERA TRUSTEE 1.00
Director
$0 $0 $0
SAMUEL SAMELSON TRUSTEE 1.00
Director
$0 $0 $0
JANET SCHMIDT TRUSTEE 1.00
Director
$0 $0 $0
SAMUEL SCOTT III TRUSTEE 1.00
Director
$0 $0 $0
RAJESH SOIN TRUSTEE 1.00
Director
$0 $0 $0
DALE STROHL TRUSTEE 1.00
Director
$0 $0 $0
JACKIE TILTON TRUSTEE 1.00
Director
$0 $0 $0
REV LIZ WALKER TRUSTEE 1.00
Director
$0 $0 $0
MICHAEL WILLIAMS-JONES TRUSTEE 1.00
Director
$0 $0 $0
GERRY BILLER TRUSTEE (11/6/2024-5/31/2025) 1.00
Director
$0 $0 $0
JEFF RYDER TRUSTEE (11/6/2024-5/31/2025) 1.00
Director
$0 $0 $0
DR LARRY THOMPSON PRESIDENT 40.00
Officer
$678,299 $36,728 $715,027
JENNIFER PRICE VP FINANCE & ADMIN 40.00
Officer
$217,037 $27,543 $244,580
DR TRACY WAGNER EXECUTIVE VICE PRESIDENT 40.00
Key Emp
$330,595 $40,118 $370,713
DR TIFFANY HOLMES VP ACADEMIC AFFAIRS 40.00
Key Emp
$288,121 $21,903 $310,024
SARA ROBINSON VP FOR ADVANCEMENT 40.00
Highest
$217,149 $21,362 $238,511
ASHLEY BURT VP AND CHIEF DIGITAL INFO OFFICER 40.00
Highest
$203,333 $28,532 $231,865
DR TAMMY WALSH SVP STUDENT LIFE/DEAN OF STUDENTS 40.00
Highest
$200,640 $22,279 $222,919
JEFFREY SCHWARTZ AVP ACADEMIC AFFAIRS/DEAN OF UNDERGRAD 40.00
Highest
$187,249 $41,587 $228,836
VIRGINIA SHEARER EXEC. DIR. SARASOTA ART MUSEUM 40.00
Highest
$189,767 $35,865 $225,632
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
2025 $139,210,850 $130,987,953 $428,492,535 $8,222,897
2024 $137,542,088 $125,865,417 $417,114,911 $11,676,671
2023 $122,797,140 $118,530,683 $403,414,324 $4,266,457
2022 $119,229,866 $107,972,065 $401,598,018 $11,257,801
2021 $105,999,819 $101,776,128 $397,038,640 $4,223,691
2020 $114,783,353 $100,267,073 $394,615,231 $14,516,280
2019 $105,770,790 $90,903,273 $333,137,303 $14,867,517
2018 $97,721,876 $83,718,720 $325,120,576 $14,003,156
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