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Art Institute Of Chicago

Art Institute Of Chicago

Chicago, IL 60603
Tax ID36-2167725

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About this organization

Revenue

$376,442,984

Expenses

$324,519,159

Website

artic.edu

Mission

The purposes for which the Art Institute of Chicago is formed are: to found, build, maintain, and operate museums, schools, libraries of art, and theaters; to provide support facilities in connection therewith; to conduct appropriate activities conducive to the artistic development of the region; and to conduct and participate in appropriate activities of national and international significance; To form, conserve, research, publish, and exhibit a permanent collection of objects of art of all kinds; to present temporary exhibitions that include loaned objects of art of all kinds; and to cultivate and extend the arts by appropriate means; To establish and conduct comprehensive programs of education, including presentation of visual artists, teachers of art, and designers; to provide educational services in written, spoken, and media formats; To provide lectures, instruction, and entertainment, including dramatic, film, and musical performances of all kinds, which complement and further the general purposes of the institute; To receive in trust property of all kinds and to exercise all necessary powers as trustee for such trust estates whose objects are related to the furtherance of the general purposes of the institute or for the establishment or maintenance of works of art.

About

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 consistently ranks among the top programs 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 2019, average academic year full-time-equivalent enrollment of degree-seeking students was 3,683 including international students from 78 countries.

Interesting data from their 2020 990 filing

The purpose of the non-profit is listed in the filing as “See schedule o”.

When discussing its operations, they were characterized as: “The art institute of chicago, a not-for-profit corporation, is both a museum and an institution of higher education that exists to provide appreciation and education in visual fine arts and design.”.

  • The non-profit's legally reported state of operation is IL.
  • The filing states that the non-profit's address in the year 2020 is 111 South Michigan Avenue, Chicago, IL, 60603.
  • The form submitted by the non-profit for 2020 shows a total of 4128 employees.
  • Does not operate a hospital.
  • Operates a school.
  • Collects art.
  • Does not provide credit counseling.
  • Has foreign activities.
  • Is not a donor advised fund.
  • Is not a private foundation.
  • Expenses are greater than $1,000,000.
  • Revenue is greater than $1,000,000.
  • Revenue less expenses is $51,923,825.
  • The remuneration plan for the CEO of the organization is based on a review and approval process by a neutral entity.
  • The organization has a written policy that describes how long it will retain documents.
  • The organization has 74 independent voting members.
  • The organization has a professional fund raiser.
  • The organization was formed in 1879.
  • The organization has a written policy that addresses conflicts of interest.
  • The organization is required to file Schedule B.
  • The organization is required to file Schedule J.
  • The organization is required to file Schedule O.
  • The organization engages in lobbying activities.
  • The organization pays $138,345,137 in salary, compensation, and benefits to its employees.
  • The organization pays $11,164,091 in fundraising expenses.
  • The organization pays grants to individuals.
  • The organization has minutes of its meetings.
  • The organization has a written whistleblower policy.
  • The organization grants to a related person.
  • The organization has a business related family member transaction.
  • The organization has fundraising events.
  • The organization's financial statements were reviewed by an accountant.

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