2024-10-15T13:35:40-05:00 2024-05-31 390859910 BAKER TILLY US LLP 790 N WATER STREET SUITE 2000 MILWAUKEE WI 53202 990 2023-06-01 391201561 MILWAUKEE INSTITUTE OF ART & DESIGN INC MILW 4148473231 273 EAST ERIE STREET MILWAUKEE WI 53202 JEFFREY MORIN PRESIDENT 4148473231 2024-10-15 1 1 TROY MARINE CPA P00187863 4147775500 2024-10-15 2023 2024-10-15 13:58:12Z JEFFREY MORIN 273 EAST ERIE STREET MILWAUKEE WI 53202 40812380 0 X WWW.MIAD.EDU X 1974 WI THE MILWAUKEE INSTITUTE OF ART AND DESIGN'S MISSION IS TO IGNITE CURIOUS MINDS THROUGH ART, DESIGN AND SERVICE. WE VALUE COURAGE TO SEEK OUR OWN PATH, INTEGRITY TO PURSUE OUR LIVES AND WORK WITH MEANING, KINDNESS TO THOUGHTFULLY ENGAGE WITH OTHERS, COMMUNITY TO POSITIVELY CONTRIBUTE TO THE WORLD AROUND US, INNOVATION TO MEET UNIVERSAL CHALLENGES IN NEW WAYS, AND INCLUSION TO FIND STRENGTH IN DIVERSITY. OUR VISION IS TO BE A GALVANIZED EDUCATIONAL AND CREATIVE COMMUNITY, ADDRESSING UNIVERAL NEEDS THROUGH OUR THOUGHT, DESIGN AND EXPRESSION. 30 30 558 30 0 0 2058578 1918145 37365895 37837374 154114 544133 -65963 -80486 39512624 40219166 19023277 19155751 0 0 13371047 13954723 0 0 579344 7240247 7159419 39634571 40269893 -121947 -50727 27426794 27472971 8139459 7881931 19287335 19591040 X THE MILWAUKEE INSTITUTE OF ART AND DESIGN'S MISSION IS TO IGNITE CURIOUS MINDS THROUGH ART, DESIGN AND SERVICE. WE VALUE COURAGE TO SEEK OUR OWN PATH, INTEGRITY TO PURSUE OUR LIVES AND WORK WITH MEANING, KINDNESS TO THOUGHTFULLY ENGAGE WITH OTHERS, COMMUNITY TO POSITIVELY CONTRIBUTE TO THE WORLD AROUND US, INNOVATION TO MEET UNIVERSAL CHALLENGES IN NEW WAYS, AND INCLUSION TO FIND STRENGTH IN DIVERSITY. OUR VISION IS TO BE A GALVANIZED EDUCATIONAL AND CREATIVE COMMUNITY, ADDRESSING UNIVERAL NEEDS THROUGH OUR THOUGHT, DESIGN AND EXPRESSION. 0 0 34650447 19155751 37837374 AS WISCONSIN'S ONLY FOUR-YEAR, NONPROFIT COLLEGE OF ART AND DESIGN, THE MILWAUKEE INSTITUTE OF ART & DESIGN (MIAD) WAS FOUNDED IN 1974 AND OFFERS A BACHELOR OF FINE ARTS DEGREE ACCREDITED BY THE HIGHER LEARNING COMMISSION AND THE NATIONAL ASSOCIATION OF SCHOOLS OF ART AND DESIGN. THE COLLEGE ENROLLS APPROXIMATELY 850 STUDENTS IN SEVEN MAJORS: COMMUNICATION DESIGN, FASHION AND APPAREL DESIGN, FINE ART + NEW STUDIO PRACTICE, ILLUSTRATION (GENERAL AND ANIMATION TRACK), INTERIOR ARCHITECTURE AND DESIGN AND PRODUCT DESIGN. MIAD ENGAGES ALL STUDENTS IN A SERVICE LEARNING PROGRAM WITH 200+ NONPROFIT PARTNERS AND THE COLLEGE CONNECTS STUDENTS TO INDUSTRY LEADERS AND HANDS-ON OPPORTUNITIES IN THEIR FIELD THROUGH THE MIAD LUBAR INNOVATION CENTER AND SPONSORED CURRICULUM PROJECTS. THE MIAD EQUITY & INCLUSION CENTER SUPPORTS OUR DIVERSE STUDENT BODY WITH THE RESOURCES THEY NEED TO THRIVE.SEVERAL OF MIAD'S DESIGN AND SCREEN-BASED MAJORS RANK AMONG THE TOP PROGRAMS NATIONALLY AND REGIONALLY. GRAPHIC DESIGN USA NAMED MIAD A TOP DESIGN SCHOOL IN 2024, AND ANIMATION CAREER REVIEW MIAD'S COMMUNICATION DESIGN MAJOR THE TOP PROGRAM IN WISCONSIN IN 2024. IT RANKS AMONG THE TOP 15 IN THE MIDWEST, AND THE TOP 25 PRIVATE COLLEGES OFFERING THE BFA IN GRAPHIC DESIGN NATIONALLY. SIMILARLY, MIAD'S ILLUSTRATION MAJOR IS NAMED BY ANIMATION CAREER REVIEW IN THE TOP 10 IN THE MIDWEST. MIAD'S ANIMATION TRACK, A SIBLING PROGRAM TO ILLUSTRATION, IS NAMED THE TOP PROGRAM IN WISCONSIN BY ANIMATION CAREER REVIEW IN 2024. ANIMATION TRACK IN ILLUSTRATION FURTHERS THE REACH OF GRADUATES IN THE INDUSTRY.IN ADDITION TO BACHELOR'S DEGREE PROGRAMS, MIAD BRINGS ROBUST CAREER PATHWAYS AND COLLEGE-READINESS EXPERIENCES AND INTERNSHIPS TO HIGH SCHOOL YOUTH, AND OFFERS CULTURAL EXPERIENCES AND PROGRAMMING TO THE GREATER MILWAUKEE COMMUNITY. 34650447 1 1 0 0 0 0 0 1 0 1 1 0 0 0 0 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 56 0 1 558 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 X 30 30 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 WI X DEIDRE ERWIN VP FOR FINANCIAL AFFAIRS 4148473231 273 EAST ERIE STREET MILWAUKEE WI 53202 DEANNA TILLISCH CHAIR 1.00 X X 0 0 0 JASON ALLEN TREASURER 1.00 X X 0 0 0 GEOFFREY MACKEY SECRETARY 1.00 X X 0 0 0 AMANDA SINGH TRUSTEE 1.00 X 0 0 0 ANDREW WILLIAMS TRUSTEE 1.00 X 0 0 0 CASEY DOUGHERTY TRUSTEE 1.00 X 0 0 0 CRAIG KOPROWSKI TRUSTEE 1.00 X 0 0 0 DAN SCHROEDER TRUSTEE 1.00 X 0 0 0 DAVID COBB TRUSTEE 1.00 X 0 0 0 DAVID NELSON TRUSTEE 1.00 X 0 0 0 DENISHA TATE-MCALISTER TRUSTEE 1.00 X 0 0 0 HANS ECKHOLM TRUSTEE 1.00 X 0 0 0 JANE KIM STEPHENS TRUSTEE 1.00 X 0 0 0 KELLIE HAMILTON TRUSTEE 1.00 X 0 0 0 KIMBERLIE WEEKLY TRUSTEE 1.00 X 0 0 0 LAURA PECK TRUSTEE 1.00 X 0 0 0 LEESA GILLIAM TRUSTEE 1.00 X 0 0 0 MADELEINE KELLY LUBAR TRUSTEE 1.00 X 0 0 0 MELISSA PEREZ TRUSTEE 1.00 X 0 0 0 NEZIH HASANOGLU TRUSTEE 1.00 X 0 0 0 NOAH STONE TRUSTEE 1.00 X 0 0 0 ROBERT DUMVILLE TRUSTEE 1.00 X 0 0 0 ROBERT MIKULAY TRUSTEE 1.00 X 0 0 0 RYAN RAMOS TRUSTEE 1.00 X 0 0 0 SARAH ZIMMERMAN TRUSTEE 1.00 X 0 0 0 STEVE MORALES TRUSTEE 1.00 X 0 0 0 TINA QUEALY TRUSTEE 1.00 X 0 0 0 TODD STONE TRUSTEE 1.00 X 0 0 0 XAVIER RUFFIN TRUSTEE 1.00 X 0 0 0 YVONNE BRODSKY TRUSTEE 1.00 X 0 0 0 JEFFREY MORIN PRESIDENT 40.00 X 274660 0 39451 DEIDRE ERWIN VP FINANCIAL AFFAIRS 40.00 X 161817 0 32144 TRACY MILKOWSKI VP INSTITUTIONAL ADVANCEMENT 40.00 X 153172 0 31654 STEVEN HANSEN VP ACADEMIC AFFAIRS 40.00 X 154871 0 10085 MARK FETHERSTON VP ENROLLMENT MANAGEMENT 40.00 X 139466 0 24951 883986 0 138285 5 0 1 0 AMERICAN FOOD & VENDING CORP 124 METROPOLITAN PARK DRIVE SYRACUSE NY 13088 FOOD SERVICE OPERATIONS 602140 ALLIED UNIVERSAL PO BOX 828854 PHILADELPHIA PA 191828854 SECURITY PERSONNEL 353916 SELZER-ORNST CONSTRUCTION COMPANY LLC 6222 W STATE STREET WAUWATOSA WI 53213 GENERAL CONTRACTOR 196298 DILLETT MECHANICAL SERVICE 21625 DORAL ROAD WAUKESHA WI 53186 HVAC MECHANICAL CONTRACTOR 128349 HOLTON BROTHERS 1257 TERMINAL RD GRAFTON WI 53024 MASONRY 108000 5 591742 1326403 148888 1918145 TUITION AND FEES 611600 37701051 37701051 AUXILIARY SERVICES 900099 136323 136323 37837374 347321 347321 553323 356511 196812 196812 196812 46200 591742 224557 -178357 -178357 17539 12146 5393 5393 MISCELLANEOUS REVENUE 611710 92478 92478 92478 40219166 37837374 0 463647 19155751 19155751 1022273 329374 508073 184826 10254097 8269115 1725509 259473 412306 325155 75263 11888 1476927 1100319 349672 26936 789120 613637 145126 30357 30119 30119 77421 77421 14600 14600 724662 296604 426770 1288 411397 235825 171331 4241 662959 594286 56383 12290 882370 682984 199386 222586 211505 9574 1507 272466 272466 1209545 1209545 SUPPLIES 641771 510113 130450 1208 STUDENT SERVICES 549607 291187 258420 MISCELLANEOUS 519972 241245 275383 3344 EQUIPMENT REPAIR AND MT 351986 103093 248063 830 587958 208243 338559 41156 40269893 34650447 5040102 579344 75829 97721 7811056 8338217 1067210 654026 257076 245286 6405 6161 493987 397517 28427435 13821314 15092397 14606121 2622834 3127922 27426794 27472971 1254416 1407665 831037 844101 6054006 5630165 8139459 7881931 X 13558234 13875948 5729101 5715092 19287335 19591040 27426794 27472971 -50727 354432 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 326990 233958 X X X 1 3783935 22581 505398 216269 4095645 3690014 224504 85617 216200 3783935 4082869 65039 -248054 209840 3690014 3397721 172043 718880 205775 4082869 2998560 423091 182440 206370 3397721 0.25000 0.75000 0 0 725000 725000 20886398 9092717 11793681 5668148 4247152 1420996 1147889 481445 666444 14606121 X 21639950 354432 236703 591135 21048815 14600 19155751 19170351 40219166 21336245 236703 236703 21099542 14600 19155751 19170351 40269893 PART III, LINE 4: THE COLLECTION IS USED TO FURTHER THE EDUCATIONAL PURPOSE OF THE INSTITUTION IN ADVANCING THE STUDENT AND PUBLIC APPRECIATION OF CONTEMPORARY ART. PART V, LINE 4: ENDOWMENT FUNDS ARE RESTRICTED FOR STUDENT SCHOLARSHIP AND ACADEMIC PROGRAM SUPPORT. PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE INSTITUTE IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. HOWEVER, ANY UNRELATED BUSINESS INCOME MAY BE SUBJECT TO TAXATION. THE INSTITUTE IS ALSO EXEMPT FROM STATE INCOME TAXES. THE INSTITUTE FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE INSTITUTE FOR UNCERTAIN TAX POSITIONS AS OF MAY 31, 2024 AND 2023. THE INSTITUTE'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 12,146. SPECIAL EVENTS EXPENSE 224,557. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND TUITION DISCOUNTS 19,155,751. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 12,146. SPECIAL EVENTS EXPENSE 224,557. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND TUITION DISCOUNTS 19,155,751. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 REGISTRATION MATERIALS AND BROCHURES STATE POLICY. SCHEDULE E, PART I, LINE 6 THE ORGANIZATION RECEIVES STUDENT FINANCIAL AID. CREATIVE FUSION 618109 571909 46200 215449 STU/ALUM ART SALE 19833 19833 9108 637942 591742 46200 224557 224557 -178357 1 SCHOLARSHIPS AND TUITION DISCOUNTS 901 19155751 PART I, LINE 2: ALL FINANCIAL AID FUNDS ARE AWARDED THROUGH THE COLLEGE'S FINANCIAL AID OFFICE AND POSTED DIRECTLY TO THE STUDENTS' ACCOUNTS BY THE STUDENT ACCOUNTS OFFICE. STUDENTS MAY BE AWARDED GRANT FUNDS ON THE BASIS OF ACADEMIC ACHIEVEMENT AND/OR FINANCIAL NEED. IN EACH CASE THE STUDENT CAN RETAIN ELIGIBILITY FOR FUNDING FOR AS MANY AS EIGHT SEMESTERS AS A FULL-TIME STUDENT, PROVIDED THE STUDENT MEETS THE RENEWAL CRITERIA SUCH AS GRADE POINT AVERAGE AND GRADE PROCESSION AS OUTLINED IN THE STUDENT HANDBOOK. AN INDIVIDUAL STUDENT MAY NOT RECEIVE MORE THAN THE COST OF TUITION FROM THE INSTITUTIONAL GRANT FUNDS. A RECONCILIATION IS DONE REGULARLY BETWEEN THE TWO DEPARTMENTS/SYSTEMS TO ENSURE ACCURACY AND PROPER USE OF THE FUNDS. STUDENT EMERGENCY GRANTS FUNDED BY THE CARES ACT AND PRIVATE DONATIONS WERE AWARDED TO STUDENTS DURING THE COVID PANDEMIC. FUNDS WERE ADMINISTERED THROUGH BOTH THE FINANCIAL AID OFFICE AND STUDENT SERVICES OFFICE FOLLOWING DEPT OF EDUCATION GUIDELINES FOR ELIGIBILITY. AN ANNUAL AUDIT IS PERFORMED BY AN OUTSIDE ACCOUNTING FIRM TO REVIEW COMPLIANCE WITH ALL FEDERAL, STATE AND INSTITUTIONAL POLICIES AND PROCEDURES. X X X 0 0 0 0 0 0 0 0 0 JEFFREY MORIN PRESIDENT 257472 0 16000 0 1188 0 15904 0 23547 0 314111 0 0 0 DEIDRE ERWIN VP FINANCIAL AFFAIRS 156835 0 4000 0 982 0 9233 0 22911 0 193961 0 0 0 TRACY MILKOWSKI VP INSTITUTIONAL ADVANCEMENT 148852 0 4000 0 320 0 8803 0 22851 0 184826 0 0 0 STEVEN HANSEN VP ACADEMIC AFFAIRS 150000 0 4000 0 871 0 8475 0 1610 0 164956 0 0 0 MARK FETHERSTON VP ENROLLMENT MANAGEMENT 134968 0 4000 0 498 0 7748 0 17203 0 164417 0 0 0 PART I, LINE 3 THE BOARD OF TRUSTEES IS RESPONSIBLE FOR REVIEWING AND DETERMINING THE COMPENSATION OF THE PRESIDENT. COMPARISONS ARE MADE TO SIMILAR POSITIONS IN COMPARABLE ENTITIES THROUGH USE OF REGIONAL AND NATIONAL COMPENSTAION SURVEYS. X 3 10100 DONOR REPORTED X AUCTION ITEMS 37 87291 DONOR REPORTED X PROGRAM EQUIPMENT AND SUPPLIES 11 51317 DONOR REPORTED X FOOD NON-INVENTORY 1 180 DONOR REPORTED 0 0 1 0 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTORS IS BEING LISTED. FORM 990, PART VI, SECTION A, LINE 1A COMPOSITION, PURPOSE AND RESPONSIBILITIES OF THE EXECUTIVE COMMITTEE. SECTION 1: ALL MEMBERS OF THE EXECUTIVE COMMITTEE SHALL BE VOTING TRUSTEES. THE CHAIR, VICE CHAIR, SECRETARY, ASSISTANT SECRETARY, TREASURER AND ASSISTANT TREASURER OF THE BOARD OF TRUSTEES SHALL BE MEMBERS ALONG WITH THE STANDING COMMITTEE CHAIRS OF THE FINANCE, ACADEMIC AFFAIRS, THE COMMITTEE ON TRUSTEES, FACILITIES COMMITTEE, DEVELOPMENT, AND MARKETING COMMITTEES. ELIGIBLE PAST CHAIRS OF THE BOARD OF TRUSTEES SERVE ON THE EXECUTIVE COMMITTEE FOR A PERIOD OF ONE YEAR FOLLOWING THE END OF HIS OR HER TERM AS CHAIR. IN THE EVENT A TRUSTEE IS ELECTED TO THE POSITION OF CHAIR IN THE FINAL YEAR OF HIS OR HER THIRD, THREE-YEAR TERM, SUCH ELECTION WILL SUPERCEDE THE LIMITATION ON SERVICE AND SUBSTITUTE FOR THE ONE-YEAR'S ABSENCE OF MEMBERSHIP. SECTION 2: THE EXECUTIVE COMMITTEE SHALL HAVE THE AUTHORITY TO ACT FOR THE BOARD OF TRUSTEES ON ALL MATTERS EXCEPT PRESIDENTIAL SELECTION AND TERMINATION AND TRUSTEE AND BOARD OFFICER SELECTION, WHICH SHALL BE PRESERVED FOR THE BOARD, CHANGES IN INSTITUTIONAL MISSION AND PURPOSE; CHANGES TO THE CHARTER OR ARTICLE OF INCORPORATION; INCURRING OF CORPORATE INDEBTEDNESS; SALE OF COLLEGE MATERIAL ASSETS OR TANGIBLE PROPERTY; ADOPTION OF THE ANNUAL BUDGET, CONFERRING DEGREES AND AMENDMENT OR CHANGE TO THESE BY-LAWS. THESE BY-LAWS OR OTHER BOARD POLICY MAY RESERVE OTHER POWERS FOR THE BOARD OF TRUSTEES. IN ADDITIONAL TO ITS AUTHORITY TO TAKE ACTION ON EMERGENCY MATTERS THAT CANNOT OR SHOULD NOT BE DEFERRED TO THE NEXT SCHEDULED MEETING OF THE BOARD, THE EXECUTIVE COMMITTEE SHALL OVERSEE THE WORK OF BOARD COMMITTEES, THE COLLEGE'S PLANNING PROCESS ON PLANNING GOALS, AND THE BOARD'S RESPONSIBILITY TO SUPPORT THE PRESIDENT AND EVALUATE HIS OR HER PERFORMANCE, AND IT SHALL REVIEW ANNUALLY THE PRESIDENT'S COMPENSATION AND CONDITIONS OF EMPLOYMENT. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE VICE PRESIDENT FOR FINANCIAL AFFAIRS AND APPROVED BY THE PRESIDENT. A COPY OF THE 990 IN ITS ENTIRETY IS PROVIDED TO THE FINANCE COMMITTEE (SUBSET OF THE BOARD OF TRUSTEES) FOR REVIEW PRIOR TO FILING. THE FORM IS PROVIDED TO THE ENTIRE GOVERNING BODY AFTER FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD BYLAWS INCORPORATE A CONFLICT OF INTEREST POLICY. BOARD MINUTES REFLECT TRUSTEES ACTING TO RECUSE THEMSELVES WHEN A CONFLICT ARISES. CONFLICT OF INTEREST DISCLOSURE FORMS ARE COMPLETED ANNUALLY BY ALL TRUSTEES. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT IS EVALUATED BY THE EXECUTIVE COMMITTEE AND THE COMPENSATION COMMITTEE WHICH THEN RECOMMENDS A SALARY BASED ON COMPARABLE DATA. THE PRESIDENT EVALUATES ALL SENIOR STAFF AND REVIEWS THEIR COMPENSATION WITH THE BOARD AND THE COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: NO CHANGE FROM PRIOR YEAR.