2024-04-14T21:09:10-07:00 2023-05-31 990 2022-06-01 910916534 CORNISH COLLEGE OF THE ARTS CORN 2067265020 1000 Lenora Street Seattle WA 98121 Deborah Treen VP Finance and CFO 2067265020 2024-04-14 Deborah Treen 999009999 1 1 11 1 AAL2 X 2022 2023-04-26 12:10:37Z Raymond Tymas-Jones 1000 Lenora Street Seattle WA 98121 24035363 0 X www.cornish.edu X 1914 WA An accredited four year college offering baccalaureate degrees in the performing and visual arts including Art, Design, Film, Interior Architecture, Dance, Music, Performance Production, and Theater. 16 16 493 61 0 0 11872364 6768779 14732185 15433566 2524353 417842 -26515 -27225 29102387 22592962 5055409 4515190 0 0 10735647 10730209 0 0 374018 7792495 9379829 23583551 24625228 5518836 -2032266 87948379 84133872 30630141 29204844 57318238 54929028 The mission of Cornish College of the Arts is to provide students aspiring to become practicing artists with an educational program of the highest possible quality, in an environment, that nurtures creativity and intellectual curiosity, while preparing them to contribute to society as artists, citizens, and innovators. 0 0 20160396 4515190 15433566 An accredited four-year college offering baccalaureate degrees in the performing and visual arts. 445 students attended Cornish College in the 2022 fall semester and 404 students attended in the spring semester. In FY 2022/2023, 73 students graduated. In addition, the extensions programs known as Cornish+, offered new studio-based classes, youth programs and student performances to 69 participants. 0 0 0 20160396 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 0 1 1 0 0 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 626 0 1 493 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 16 16 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 0 0 WA X X Deborah Treen 2067265020 1000 Lenora Street Seattle WA 98121 Raymond Tymas-Jones President 40 0.5 X 321709 0 16233 Deborah Treen VP Finance & CFO 40 0.5 X 184482 0 10009 David Lofthouse Dean of Enrollment Mgmt 40 0 X 191575 0 2844 Jessica Thurlow VP Academic Affairs, Provost 40 0 X 175640 0 11934 Anne Derieux VP of Institutional Advancement 40 0.5 X 133547 0 20196 James Falzone Academic Dean 40 0 X 104717 0 18787 Brandon Bird VP of Operations 40 0 X 114443 0 8016 Emily Parkhurst Chair 4 0 X X 0 0 0 Michael Fortin Vice Chair 4 0 X X 0 0 0 Tracy Raissis Secretary 4 0 X X 0 0 0 Aggie Clark Treasurer 4 0 X X 0 0 0 L Robin Du Brin Trustee 1.5 0 X 0 0 0 Gary Fluhrer Trustee 1.5 0 X 0 0 0 Marianne Sorich Francis Trustee 1.5 0 X 0 0 0 Lawrence Hard Trustee 1.5 0 X 0 0 0 John Jordan Trustee 4 0 X 0 0 0 Kathleen Le Coze Trustee 1.5 0 X 0 0 0 Leslie Mays Trustee 1.5 0 X 0 0 0 Karl Moehring Trustee 1.5 0 X 0 0 0 Joel Petersen Trustee 1.5 0 X 0 0 0 Sherry Raisbeck Trustee 4 0 X 0 0 0 Joseph Rosa Trustee 1.5 0 X 0 0 0 Lisa Scribante Trustee 1.5 0 X 0 0 0 1226113 0 88019 7 0 1 0 Allied Universal Security PO Box 31001-2374 Pasadena CA 911102374 Security 533764 COCM Student Housing Professionals 1500 Urban Center Drive Suite 400 Birmingham AL 35242 Student Housing Management 300462 Gateway Construction 5506 Sixth Ave S Suite 210 Seattle WA 98108 Construction 947081 Henderson Enterprises 4403 Russell Road 103 Mukilteo WA 98275 Construction 202308 4 0 0 0 182670 1657674 4928435 505906 6768779 Tuition and fees 611310 15149091 15149091 0 0 Student housing and dining 611310 108622 108622 0 0 Performance revenues 611310 8744 8744 0 0 167109 167109 0 0 15433566 335154 0 0 335154 0 0 0 0 0 0 0 0 349892 0 377117 0 -27225 0 -27225 0 0 -27225 1147972 0 1065284 0 82688 0 82688 0 0 82688 0 0 0 0 0 0 22592962 15433566 0 390617 0 0 4421970 4421970 93220 93220 0 0 1008103 319610 602545 85948 0 0 0 0 7858961 6807644 926716 124601 276174 221986 47630 6558 971661 781011 167578 23072 615310 494580 106119 14611 303794 303794 0 0 139495 0 139495 0 58775 0 58775 0 0 0 0 0 0 0 45822 0 45822 0 1735953 1328717 346646 60590 175252 166693 8246 313 618858 494543 114860 9455 792734 636878 131683 24173 8727 8727 0 0 1336027 1242642 93385 0 350128 337305 11780 1043 0 0 0 0 38109 24691 13353 65 963089 0 963089 0 0 0 0 0 1606604 1481427 125177 0 240151 79695 160456 0 Housing and meal subsidies 439234 439234 0 0 Transportation 164702 151576 13126 0 Bad debt and write-offs 134465 128364 0 6101 Janitorial svc & supplies 129788 127471 2317 0 98122 68618 12016 17488 24625228 20160396 4090814 374018 1002701 763248 4597543 1663896 1083754 1713450 5862497 6822025 0 0 0 0 397446 314950 0 0 248899 155786 80870903 26802321 52177986 54068582 10292796 6848863 0 0 0 0 0 0 12284757 11783072 87948379 84133872 2240606 1326232 0 0 177506 304307 12323000 12323000 0 0 0 0 0 0 1319350 1227356 14569679 14023949 30630141 29204844 X 42524261 45185372 14793977 9743656 57318238 54929028 87948379 84133872 -2032266 -356944 0 0 0 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 134875 0 0 X X Education 0 10761937 1069209 -264064 415770 13971 0 11137341 10898426 1053853 -771205 392610 26527 0 10761937 8878995 25970 2424191 404464 26266 0 10898426 8868122 93571 401951 458339 26310 0 8878995 9136063 44503 23551 308350 27645 0 8868122 0 0.74 0.26 0 1 1 0 15828824 15828824 0 55703186 20552951 35150235 0 1788816 586104 1202712 0 6143227 4721609 1421618 0 1406850 941657 465193 54068582 Bond issuance costs, net 11500 Right of use asset-operating 5435734 Right of use asset-financing 6335838 11783072 0 Due to Dept of Education 330052 Rental deposits 214100 Lease liability-operating 7402763 Lease liability-financing 6077034 14023949 X Schedule D, Part III, Line 4 Various works of art including paintings, sketches, and prints for the education of students and for public display. Schedule D, Part V, Line 4 Endowment funds are held and preserved at the fair value of the original gift with the earnings awarded as scholarship and program related activities as stipulated by the donor. Schedule D, Part X, Line 2 Both Cornish College of the Arts and the Cornish Foundation are exempt from federal income taxes as entities described in Section 501(c)(3) of the Internal Revenue Code. In addition, Cornish College of the Arts is currently exempt from real and personal property taxes on its educational and other noncommercial properties. The Colleges' returns are subject to examination by federal and state taxing authorities, generally for three and four years, respectively, after they are filed. Each entity believes that it has appropriate support for any tax positions taken affecting its annual filing requirements and, as such, does not have any uncertain tax positions that are material to the consolidated financial statements. The entities would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties were incurred. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Advertising placed in newspapers and the internet for employment opportunities state that the college is an equal opportunity employer. Admissions and recruiting materials also state that the college does not discriminate. Schedule E, Part I, Line 6 Cornish receives financial assistance from the US Department of Education in connection with various programs such as work study programs and the FSEOG grant program. The college also receives assistance from the State of Washington through the college work study program and the Washington Building for the Arts program. scholarships and tuition discounts East Asia and the Pacific 5 34670 applied to student account 0 FMV scholarships and tuition discounts Europe (including Iceland and Greenland) 1 5500 applied to student account 0 FMV scholarships and tuition discounts North America (including Canada and Mexico, but not the United States) 4 30260 applied to student account 0 FMV scholarships and tuition discounts South Asia 1 3570 applied to student account 0 FMV scholarships and tuition discounts Sub-Saharan Africa 1 19220 applied to student account 0 FMV 0 0 0 0 0 0 1 Scholarships and grants awarded to students attending Cornish College of the Arts 455 4515190 0 actual cash awarded Schedule I, Part I, Line 2 The college's financial aid office awards scholarships to students based on eligibility criteria predetermined by donors and college policies. All awards are applied to tuition and related expenses only. X X X X 0 0 0 0 0 0 0 0 0 Raymond Tymas-Jones President 269265 0 0 0 52444 0 12998 0 3235 0 337942 0 0 0 Jessica Thurlow VP Academic Affairs, Provost 148281 0 0 0 27359 0 7214 0 4720 0 187574 0 0 0 Deborah Treen VP Finance & CFO 155470 0 0 0 29012 0 7480 0 2529 0 194491 0 0 0 Anne Derieux VP of Institutional Advancement 133059 0 0 0 488 0 5913 0 14283 0 153743 0 0 0 David Lofthouse Dean of Enrollment Mgmt 167429 0 0 0 24146 0 533 0 2311 0 194419 0 0 0 A Washington Higher Education Facilities Authority 911306482 2010-12-01 20323000 Financing and refinancing costs associated with the college's facilities 0 0 0 A 8000000 0 20323000 0 0 0 202371 0 20120629 0 0 0 2010 1 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 1 1 KeyBank National 10.00 0 0 0 0 0 X 1 505906 FMV 0 0 1 0 Schedule M, Part I, Line 9 The number of contributions listed in column B is the number of separate non-cash donations received from donors during the year. Form 990, Part IV, Line 12b Cornish College of the Arts is included in a consolidated financial statement with the Cornish Foundation that is audited in accordance with generally accepted auditing standards and presented in accordance with generally accepted accounting principles. Form 990, Part VI, Section A, Line 8b There are no committees that have been granted authority to act on behalf of the board. Form 990, Part VI, Section B, Line 11b A copy of the 990 was reviewed by the CFO and provided to the board of trustees prior to filing. Form 990, Part VI, Section B, Line 12c As required by the college's Conflict of Interest Policy, board members complete an annual survey that is reviewed by the board and the officers of the college. the board's Trusteeship and Governance Committee is responsible for oversight and enforcement of conflict of interest policies and procedures. Disclosure of potential conflicts of interest are requested at the beginning of each Board meeting. Any potential conflicts of interest are reported to the Audit Committee for determination of whether a conflict of interest exists and appropriate actions as a result. Form 990, Part VI, Section B, Line 15 A subcommittee of the board of trustees annually reviews the President's performance and determines compensation. The committee utilizes peer salary surveys and other research in determining the President's salary. Documentation of the subcommittee deliberation and recommendation is held by the college's Office of Human Resources. The most recent review was completed April 25, 2023. The President annually reviews officers' performances and determines compensation. Salary surveys and other research are used in determining compensation for key employees. Form 990, Part VI, Section C, Line 19 The college makes its governing documents, conflict of interest policy and financial statements available to the public upon request. Cornish Foundation 1000 Lenora Street Seattle WA 98121 912105614 endowed scholarships WA 501c3 11A Cornish College of the Arts 1 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 Cornish Foundation c 182670 Scholarship awards