2024-05-14T12:32:55-04:00 2023-06-30 030325875 DAVIS & HODGDON ASSOCIATES CPAS PLC 33 BLAIR PARK RD STE 201 WILLISTON VT 05495 990 2022-07-01 208384273 VERMONT COLLEGE OF FINE ARTS INC VERM 8028288600 36 COLLEGE STREET MONTPELIER VT 05602 KATIE GUSTAFSON VP FINANCE & ADMIN 8028288600 2024-05-14 true KATIE GUSTAFSON 999009999 false BRET HODGDON P00497283 8028781963 2024-05-14 2022 2023-04-26 12:10:37Z KATIE GUSTAFSON 36 COLLEGE STREET MONTPELIER VT 05602 21074558 false X WWW.VCFA.EDU X 2006 VT ANCHORED ON ITS HISTORIC CAMPUS IN MONTPELIER, VERMONT, VCFA IS A GLOBAL COMMUNITY OF ARTISTS CONTINUALLY REDEFINING WHAT IT MEANS TO BE AN ARTS COLLEGE. WE MEASURE OUR SUCCESS BY OUR ABILITY TO FOSTER THE EXCELLENCE OF EMERGING AND ESTABLISHED PRACTITIONERS. WE BELIEVE THAT THE ARTS ARE CENTRAL TO THE HUMAN EXPERIENCE AND HAVE THE ABILITY NOT ONLY TO REFLECT REALITY BUT ALSO TO CREATE IT. 13 12 188 0 2376917 1886992 7302129 6711715 427 4213 217249 12072748 9896722 20675668 1103917 0 6292927 5458685 0 354764 3428387 9160362 9721314 15722964 175408 4952704 16896015 17225052 14225441 9592325 2670574 7632727 X ANCHORED ON ITS HISTORIC CAMPUS IN MONTPELIER, VERMONT, VCFA IS A GLOBAL COMMUNITY OF ARTISTS CONTINUALLY REDEFINING WHAT IT MEANS TO BE AN ARTS COLLEGE. WE MEASURE OUR SUCCESS BY OUR ABILITY TO FOSTER THE EXCELLENCE OF EMERGING AND ESTABLISHED PRACTITIONERS. WE BELIEVE THAT THE ARTS ARE CENTRAL TO THE HUMAN EXPERIENCE AND HAVE THE ABILITY NOT ONLY TO REFLECT REALITY BUT ALSO TO CREATE IT. false false 12115884 1103917 6303939 EDUCATIONAL - SIX MASTER OF FINE ARTS PROGRAMS, INCLUDING WRITING, WRITING FOR CHILDREN AND YOUNG ADULTS, VISUAL ARTS, GRAPHIC DESIGN, MUSIC COMPOSITION, AND FILM. 764825 407776 AUXILIARY SERVICES (ROOM AND BOARD, CONFERENCE AND MEETING SPACE RENTAL) AND PUBLIC SERVICE. 12880709 true true false false false false false true false true true false false false true true false true true false false false false false false false false false true true false false false true false false false false false false false false false true true true false false true 146 0 188 true false false false false false false false false false false false false false false X 13 12 false false false false false false false true true false false true true true true true true true true false X KATHERINE PALARDY 8028288895 36 COLLEGE STREET MONTPELIER VT 05602 MICHAEL GOLDSTEIN CHAIR 4.00 X X 0 0 0 CATHERINE CARVELLI CO-CHAIR 4.00 X X 0 0 0 JOAN GRUBIN TRUSTEE 4.00 X 0 0 0 MIKE HOGAN TRUSTEE 4.00 X 0 0 0 KATE HOSFORD TRUSTEE 4.00 X 0 0 0 CASPER MARTIN TRUSTEE 4.00 X 0 0 0 KATHERINE PATERSON TRUSTEE 4.00 X 0 0 0 ANDREW RAMSAMMY TRUSTEE 4.00 X 0 0 0 MICHAEL ROSENFELD TRUSTEE 4.00 X 0 0 0 HEIDI MOHLMAN TRINGE TRUSTEE 4.00 X 0 0 0 JEFF WIGGINS TRUSTEE 4.00 X 0 0 0 BARRY JOHNSON TRUSTEE 4.00 X 0 0 0 CHARLES BUNTING TRUSTEE 2.00 X 0 0 0 RAFAEL ATTIAS TRUSTEE 2.00 X 0 0 0 CHERYL MILLER TRUSTEE 2.00 X 0 0 0 LESLIE WARD PRESIDENT 35.00 X 132342 0 22296 MATTHEW MONK ACADEMIC DEA 35.00 X 173846 0 19399 KATIE GUSTAFSON VP FINANCE & 35.00 X 129967 0 5212 DAVID MARKOW COO/VP FOR S 35.00 X 116876 0 25695 JERICHO PARMS VP OF DEVELO 35.00 X 102729 0 24467 655760 97069 5 false true false THE BELFORT GROUP 125 HIGH STREET SUITE 220 BOSTON MA 02110 MARKETING 370000 1 1886992 1886992 TUITION AND FEES 611600 6242661 6242661 AUXILIARY ENTERPRISES 611600 407776 407776 OTHER REVENUE 611600 61278 61278 6711715 5497 5497 564601 367929 196672 196672 196672 2000 3284 -1284 -1284 -1284 42933 27677 15256 15256 GAIN ON DEBT EXTINGUISHMENT 611600 12262789 12262789 WRITE-OFF OF INVENTORY 611600 -37305 -37305 WRITE-OFF OF LOAN ACQ COSTS 611600 -364664 -364664 11860820 20675668 6711715 12076961 1103917 1103917 780489 405112 257802 117575 3852696 3236308 485703 130685 32728 20901 8930 2897 410885 245961 148416 16508 381887 303452 58236 20199 63922 63922 32900 32900 3275 3275 844399 234382 607733 2284 394145 17171 376974 111792 81151 23962 6679 305628 221645 83983 1046067 986117 56841 3109 174248 152453 19036 2759 265261 212702 7070 45489 402985 374214 27223 1548 4858543 4858543 331140 307605 22263 1272 107179 253 106926 ADMISSIONS & APPLICATIONS 59884 59884 PAYROLL PROCESSING FEES 47169 47169 MISCELLANEOUS 35244 19849 11635 3760 BANK SERVICE CHARGES 28763 2269 26494 47818 36820 10998 15722964 12880709 2487491 354764 140712 135935 1941306 2276032 272345 235929 217922 104568 60906 11162 729585 1264218 18360686 5221843 13480819 13138843 52420 58365 16896015 17225052 399302 273017 1687371 1265499 1000000 12122104 7038136 16664 15673 14225441 9592325 X 1929678 6175615 740896 1457112 2670574 7632727 16896015 17225052 4952704 9449 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 86087 X X X false 523257 2804 53532 472529 85690 85690 0.62000 0.38000 false false 122819 122819 16273784 3623945 12649839 1391688 1144991 246697 572395 452907 119488 13138843 SECURITY DEPOSITS 15673 15673 X 12247935 9449 -8464859 -8455410 20703345 -27677 -27677 20675668 10892727 28306 28306 10864421 4858543 4858543 15722964 SCHEDULE D, PAGE 2, PART III, LINE 4 THE COLLECTIONS, WHICH CONSIST OF A PIPE ORGAN AND WORKS OF ART WERE PRIMARILY ACQUIRED THROUGH THE PURCHASE OF THE CAMPUS. THE PIPE ORGAN AND WORKS OF ART ARE AVAILABLE FOR PUBLIC EXHIBITION THROUGHOUT THE CAMPUS. SCHEDULE D, PAGE 3, PART X THE COLLEGE ANNUALLY FILES AN IRS FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, TAX RETURN IN THE U.S. FEDERAL JURISDICTION. THE COLLEGE IS NO LONGER SUBJECT TO U.S. FEDERAL INCOME TAX EXAMINATION BY TAX AUTHORITIES FOR THE YEARS PRIOR TO JUNE 30, 2020. IN THE NORMAL COURSE OF BUSINESS, THE COLLEGE IS SUBJECT TO EXAMINATION BY VARIOUS TAXING AUTHORITIES. ALTHOUGH THE OUTCOME OF TAX AUDITS IS ALWAYS UNCERTAIN, THE MANAGEMENT OF THE COLLEGE BELIEVES THAT THERE ARE NO SIGNIFICANT UNRECOGNIZED TAX LIABLILITIES AT JUNE 30, 2023 AND 2022. SCHEDULE D, PAGE 4, PART XI, LINE 2D NET FOUNDATION REVENUE 29,481 FOUNDATION INVESTMENT INCOME 5,660 FOUNDATION WRITE-OFF OF NOTES RECEIVABLE -8,500,000 SCHEDULE D, PAGE 4, PART XI, LINE 4B COGS -27,677 SCHEDULE D, PAGE 4, PART XII, LINE 2D COGS 27,677 FOUNDATION LOAN AMORTIZATION COSTS 116 FOUNDATION BANK FEES 513 SCHEDULE D, PAGE 4, PART XII, LINE 4B TRANSFERS TO VCFA FOUNDATION 4,858,543 true true true true true true true false false false false false false false false true false true SCHEDULE E, LINE 3 VCFA BOARD RESOLUTION DOCUMENTS NONDISCRIMANATORY POLICY. NONDISCRIMINATORY POLICY IS ON BROCHURES, CATALOGS, APPLICATION MATERIALS AND THE WEBSITE. SCHEDULE E, LINE 6 DIRECT FEDERAL LOANS FOR STUDENT FINANCIAL AID (UNSUBSIDIZED AND PLUS LOANS) false SCHOLARSHIPS 158 1103917 FMV TUITION ASSISTA SCHEDULE I, PAGE 4, PART IV PART I, LINE 2: STUDENTS AWARDED SCHOLARSHIPS MUST BE ENROLLED, AND FOR CONTINUED FUNDING, MUST SUCCESSFULLY COMPLETE THE SEMESTER PROJECT; SOME SCHOLARSHIPS REQUIRE MANUSCRIPT SUBMISSION, REVIEW, AND SELECTION BY FACULTY. X X X X X false false false false false false false false false LESLIE WARD PRESIDENT 132342 22296 154638 MATTHEW MONK ACADEMIC DEAN 173846 3720 15679 193245 LESLIE WARD BOARD MEMBER LIQUIDITY LOAN X 1000000 1000000 false true true 1000000 FORM 990 - ORGANIZATION'S MISSION ANCHORED ON ITS HISTORIC CAMPUS IN MONTPELIER, VERMONT, VCFA IS A GLOBAL COMMUNITY OF ARTISTS CONTINUALLY REDEFINING WHAT IT MEANS TO BE AN ARTS COLLEGE. WE MEASURE OUR SUCCESS BY OUR ABILITY TO FOSTER THE EXCELLENCE OF EMERGING AND ESTABLISHED PRACTITIONERS. WE BELIEVE THAT THE ARTS ARE CENTRAL TO THE HUMAN EXPERIENCE AND HAVE THE ABILITY NOT ONLY TO REFLECT REALITY BUT ALSO TO CREATE IT. FORM 990, PAGE 6, PART VI, LINE 11B A COPY OF THE FORM 990 WILL BE REVIEWED BY THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES PRIOR TO FINAL SUBMISSION TO THE IRS. FORM 990, PAGE 6, PART VI, LINE 12C EACH TRUSTEE IS REQUIRED TO REVIEW AND SIGN A CONFLICT OF INTEREST POLICY ANNUALLY. FORM 990, PAGE 6, PART VI, LINE 15A BOARD DETERMINES PRESIDENT'S SALARY BASED ON EVALUATIONS AND COMPARING DATA WITH SIMILAR INSTITUTIONS, AND APPROVES PRESIDENT'S SALARY. FORM 990, PAGE 6, PART VI, LINE 15B THE PRESIDENT EVALUATES AND DETERMINES THE OTHER OFFICER'S SALARIES. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON EACH INDIVIDUAL REQUEST. THE CONFLICT OF INTEREST POLICY IS MADE AVAILABLE TO THE PUBLIC THROUGH THE ORGANIZATION'S WEBSITE UNDER POLICIES AND UPON EACH INDIVIDUAL REQUEST. VERMONT COLLEGE OF FINE ARTS FDN INC 36 COLLEGE STREET MONTPELIER VT 05602 474302610 FIN SUPPOR VT 501C3 12A VERMONT COLLEGE OF FINE ARTS INC true false true false false false false false false false false false false false false false false false false true VERMONT COLLEGE OF FINE ARTS FDN INC B 6923656 FMV VERMONT COLLEGE OF FINE ARTS FDN INC S 2065113 FMV