ART CENTER COLLEGE OF DESIGN

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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

1930

Legal Domicile

Principal Officer

KAREN HOFMANN

Phone

6263962200

Tax Period

2024-07-01 to 2025-06-30

ART CENTER COLLEGE OF DESIGN, founded in 1930, is a major nonprofit in the Education sector that reported $177.3M in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $155.4M left a modest 12% surplus.

Mission

OUR MISSION IS TO EDUCATE, INSPIRE, AND EMPOWER CREATIVE AND DESIGN LEADERS.

Program Service Accomplishments

Program 1

Expenses: $145,441,528 Revenue: $141,324,251

THE COLLEGE OPERATES AN INDEPENDENT, FOUR-YEAR CURRICULUM TO EDUCATE ARTISTS AND DESIGNERS IN COMMUNICATION ARTS AND INDUSTRIAL DESIGN. THE COLLEGE OFFERS A BACHELOR OF FINE ARTS DEGREE IN SIX MAJORS (CREATIVE DIRECTION; FILM; FINE ART; GRAPHIC DESIGN; ILLUSTRATION; AND PHOTOGRAPHY AND IMAGING) AND A BACHELOR OF SCIENCE DEGREE IN FIVE MAJORS (ENTERTAINMENT DESIGN; INTERACTION DESIGN; PRODUCT DESIGN; SPATIAL EXPERIENCE DESIGN; AND TRANSPORTATION DESIGN). GRADUATE PROGRAMS LEAD TO THE MASTER OF FINE ARTS DEGREE IN: FILM; ART; MEDIA DESIGN PRACTICES; AND GRAPHIC DESIGN. THE GRADUATE PROGRAMS THAT OFFER THE MASTER OF SCIENCE DEGREE ARE: FURNITURE, LIGHTING & FIXTURES; SPATIAL EXPERIENCE DESIGN; INDUSTRIAL DESIGN; AND TRANSPORTATION SYSTEMS AND DESIGN. TWO GRADUATE PROGRAMS AWARD AN ONLINE MASTER OF DESIGN (MDES) DEGREE IN BRAND DESIGN AND STRATEGY AND INTERACTION DESIGN. ALL EXPENDITURES RELATE TO ACADEMIC INSTRUCTION, PROGRAM SUPPORT AND OPERATION OF THE COLLEGE. THE FTE ENROLLMENT FOR JULY 2024 TO JUNE 2025 WAS APPROXIMATELY 2,188 (FALL 2024), 2,068 (SPRING 2025) AND 768 (SUMMER 2025) STUDENTS.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $26,036,663

Program Service Revenue $141,324,251

Investment Income $8,444,131

Other Revenue $1,458,365

TOTAL REVENUE $177,263,410

Expense Breakdown

Grants Paid $29,343,983

Salaries & Benefits $76,531,651

Fundraising Expenses $2,377,965

Program Expenses $145,441,528

Other Expenses $49,482,233

TOTAL EXPENSES $155,357,867

Year-over-Year Comparison

	2024	2023	Change
Revenue	$177,263,410	$150,138,393	+0.2%
Expenses	$155,357,867	$157,356,767	0.0%
Net Income	$21,905,543	$-7,218,374	-4.0%

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

Governance

Voting Members

Independent Members

Employees

2134

Volunteers

115

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

$793,224

Total Directors

$627,725

Key Employees

$1,403,234

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEFFREY C BARBAKOW	TRUSTEE	1.00	Director	$0	$0	$0
RONALD BENSION	TRUSTEE	1.00	Director	$0	$0	$0
KEVIN G BETHUNE	TRUSTEE	1.00	Director	$0	$0	$0
CHRISTOPHER J BIRCHBY	TRUSTEE	1.00	Director	$0	$0	$0
CLARENCE A DANIELS JR	TRUSTEE	1.00	Director	$0	$0	$0
DANTLEY DAVIS	TRUSTEE (THRU 1/2025)	1.00	Director	$0	$0	$0
JANICE FELDMAN	TRUSTEE	1.00	Director	$0	$0	$0
SARAH E GAVLAK	TRUSTEE	1.00	Director	$0	$0	$0
TOM GILMORE	TRUSTEE/TREASURER (THRU 2/2025)	1.00	Officer Director	$0	$0	$0
WILLIAM T GROSS	TRUSTEE	1.00	Director	$0	$0	$0
BRUCE HEAVIN	TRUSTEE	1.00	Director	$0	$0	$0
LINDA A HILL	TRUSTEE/FIRST VICE CHAIR	1.00	Officer Director	$0	$0	$0
STEVEN M HITTER	TRUSTEE/SECRETARY	1.00	Officer Director	$0	$0	$0
TIMOTHY M KOBE	TRUSTEE	1.00	Director	$0	$0	$0
MELISSA LORA	TRUSTEE	1.00	Director	$0	$0	$0
DAVID C MARTIN	TRUSTEE	1.00	Director	$0	$0	$0
MERLE MULLIN	TRUSTEE	1.00	Director	$0	$0	$0
PRAJNA MURDAYA	TRUSTEE	1.00	Director	$0	$0	$0
CHARLES E NEARBURG	TRUSTEE	1.00	Director	$0	$0	$0
MARIANA PRIETO	TRUSTEE (START 6/2025)	1.00	Director	$0	$0	$0
PAUL RAINEY	TRUSTEE	1.00	Director	$0	$0	$0
IVY ROSS	TRUSTEE	1.00	Director	$0	$0	$0
MICHELE RUIZ	TRUSTEE	1.00	Director	$0	$0	$0
PHILLIP SAROFIM	TRUSTEE	1.00	Director	$0	$0	$0
ZACHARY E SNYDER	TRUSTEE	1.00	Director	$0	$0	$0
JOE TSENG	TRUSTEE (START 6/2025)	1.00	Director	$0	$0	$0
FRANZ VON HOLZHAUSEN	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL M WARSAW	TRUSTEE/CHAIR	1.00	Officer Director	$0	$0	$0
KAREN HOFMANN	PRESIDENT/CEO	40.00	Officer Director	$550,902	$76,823	$627,725
ELSA LUNA	SVP, CHIEF FIN & ADMIN OFFICER	40.00	Officer	$160,490	$5,009	$165,499
ANNE BURDICK	PROVOST	40.00	Key Emp	$270,540	$43,783	$314,323
MELANIE BURZYNSKI	SVP, ADVANCEMENT	40.00	Key Emp	$301,610	$6,764	$308,374
JIM POORE	SVP, MARKETING & COMMUNICATIONS	40.00	Key Emp	$197,177	$8,642	$205,819
TOM STERN	SVP, ENROLLMENT MGMT/STUDENT AFFAIRS	40.00	Key Emp	$286,500	$39,512	$326,012
AARON BRUCE	VP, CHIEF DIV OFFICER (THRU 12/2024)	40.00	Key Emp	$227,044	$21,662	$248,706
KRISTINE BOWNE	VP, PROF DEV & INDUSTRY ENGAGEMENT	40.00	Highest	$282,414	$21,246	$303,660
LISA SANCHEZ	VP, EMPLOYEE EXPERIENCE & ENGAGEMENT	40.00	Highest	$233,385	$24,560	$257,945
THERESA ZIX	VP, INFORMATION TECHNOLOGY	40.00	Highest	$233,074	$27,979	$261,053
ROSS LAMANNA	DEPARTMENT CHAIR	40.00	Highest	$228,951	$23,553	$252,504
MAGGIE HENDRIE	DEPARTMENT CHAIR	40.00	Highest	$228,075	$39,469	$267,544
RICHARD HALUSCHAK	FORMER SVP, CF&AO (THRU 1/2024)	40.00		$132,358	$40,749	$173,107

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	$177,263,410	$155,357,867	$427,748,901	$21,905,543
2024	No data	No data	No data	No data
2023	$144,955,105	$149,599,946	$392,596,618	$-4,644,841
2022	$147,178,248	$142,354,227	$387,750,252	$4,824,021
2021	$138,568,256	$132,770,415	$369,337,873	$5,797,841
2020	$136,246,273	$136,822,247	$332,038,708	$-575,974
2019	$132,644,259	$129,239,511	$329,861,876	$3,404,748
2018	$130,852,835	$123,196,348	$272,587,948	$7,656,487