2026-04-14T10:14:56-05:00 2025-05-31 273858252 DEAN DORTON ALLEN FORD PLLC 810 WRIGHTS SUMMIT PARKWAY SUITE 300 FORT WRIGHT KY 41011 990 2024-06-01 311601569 ART ACADEMY OF CINCINNATI ARTA 5137215205 1212 JACKSON STREET CINCINNATI OH 452027106 JOE GIRANDOLA PRESIDENT 5137215205 2026-04-13 1 0 KERRI L RICHARDSON P00636119 8593313300 2026-04-13 2024 2025-03-06 01:10:19Z JOE GIRANDOLA 1212 JACKSON STREET CINCINNATI OH 452027106 10744809 0 X WWW.ARTACADEMY.EDU X 1998 OH FOUR-YEAR ACCREDITED ART ACADEMY COLLEGE, OFFERING BFAS AND ONE MA PROGRAM. MISSION IS TO CREATE AND SUSTAIN RADICAL FORWARD-THINKING, CONTEMPORARY VISUAL ARTISTS AND DESIGNERS WHOSE CREATIVE CONTRIBUTIONS MAKE A SUBSTANTIAL DIFFERENCE IN ALL THE LIVES THEY TOUCH. 24 23 192 43 0 0 712638 784482 9701751 8542584 62864 171342 165496 227216 10642749 9725624 4059111 3720047 0 0 4160978 3669617 0 0 63870 2833289 3713487 11053378 11103151 -410629 -1377527 11104298 8741657 5065475 4043772 6038823 4697885 OUR MISSION IS TO OPERATE, MAINTAIN, AND OVERSEE AN INDEPENDENT COLLEGE OF ART AND DESIGN. 0 0 7781034 3720047 8581803 WE OPERATE AN ACCREDITED POST-SECONDARY FINE ARTS EDUCATION FACILITY (ART ACADEMY) OFFERING CURRICULUM LEADING TO A BACHELOR OF FINE ARTS DEGREE, AND A MASTERS IN ART EDUCATION. WE SERVE APPROXIMATELY 175 MATRICULATING STUDENTS. IN ADDITION, WE SERVE APPROXIMATELY 300 INDIVIDUALS IN OUR COMMUNITY ARTS EDUCATION PROGRAMS. 7781034 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 30 0 192 1 0 0 0 0 0 0 0 0 0 0 0 0 X 24 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 OH X JOE GIRANDOLA 5135268750 1212 JACKSON STREET CINCINNATI OH 452027106 JOSEPH GIRANDOLA PRESIDENT 45.00 X X 215400 0 0 EMILY AGRICOLA HOLTROP CHAIR 10.00 X X 0 0 0 JOANNA DOERNER VICE CHAIR 5.00 X X 0 0 0 IAN MCMANIS SECRETARY 2.00 X X 0 0 0 JIM CROSSET TREASURER 3.00 X X 0 0 0 CHRISTINE CARLI TRUSTEE 2.00 X 0 0 0 JOHN COBEY TRUSTEE 2.00 X 0 0 0 MARK GROTE TRUSTEE 2.00 X 0 0 0 MURRAY SINCLAIRE TRUSTEE 2.00 X 0 0 0 JACQUELYN SOMMER-DENNEY TRUSTEE 2.00 X 0 0 0 CALVIN MCDANIEL TRUSTEE 2.00 X 0 0 0 RICHARD DICK FRIEDMAN TRUSTEE 2.00 X 0 0 0 TAMARA HARKAVY TRUSTEE 2.00 X 0 0 0 GREGORY OLSON TRUSTEE 2.00 X 0 0 0 KYLE CAMPBELL TRUSTEE 2.00 X 0 0 0 TYRA PATTERSON TRUSTEE 2.00 X 0 0 0 ROBERT P HUESMAN TRUSTEE 2.00 X 0 0 0 CHIP GERHARDT TRUSTEE 2.00 X 0 0 0 BENJAMIN STEWART TRUSTEE 2.00 X 0 0 0 PAM KRAVETZ TRUSTEE 2.00 X 0 0 0 DAN FALES TRUSTEE 2.00 X 0 0 0 RICHARD HOMAN TRUSTEE 2.00 X 0 0 0 CHERYL STEVENS TRUSTEE 2.00 X 0 0 0 JENNY USTICK TRUSTEE 2.00 X 0 0 0 LEA WAGNER VP OF ADMINISTRATION AND FINANCE 45.00 X 110000 0 0 325400 0 0 2 0 1 0 0 38155 746327 18150 784482 TUITION 611610 7751849 7751849 STUDENT ROOM AND BOARD 611610 694271 694271 COMMUNITY EDUCATION 611610 96464 96464 8542584 79562 79562 187997 0 187997 187997 187997 1110965 1019185 91780 91780 91780 OTHER INCOME 611610 36822 36822 SPIRIT ITEMS 611610 2397 2397 39219 9725624 8581803 0 359339 3720047 3720047 215400 134630 79236 1534 2838482 1774119 1044146 20217 19478 10112 9332 34 349598 179971 168115 1512 246659 129201 115773 1685 10695 10695 260943 65178 168123 27642 28361 12053 14458 1850 9600 9600 676488 676488 58792 51023 7769 55583 54749 556 278 190442 187585 1904 953 69822 69822 BAD DEBT 1210140 1210140 UTILITIES 305321 305321 EQUIPMENT MAINTENANCE & 266993 115012 151981 SUPPLIES 137464 93976 41801 1687 432843 271569 154796 6478 11103151 7781034 3258247 63870 146574 22934 1240305 20000 152060 282136 79350 79350 26120 44861 4694796 1843457 3023631 2851339 2517455 2331016 3918803 3110021 11104298 8741657 266840 383168 92930 95750 152414 150000 4553291 3414854 5065475 4043772 X 3183719 1646691 2855104 3051194 6038823 4697885 11104298 8741657 X -1377527 38107 -1518 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 79350 X X X 0 2349602 180852 381000 2149454 2170164 315438 136000 2349602 2173941 -3777 2170164 2479217 2645 -181921 126000 2173941 2020891 458326 2479217 0.00845 0.56293 0.42862 0 0 89170 89170 4159983 1499907 2660076 377513 343550 33963 68130 68130 2851339 RIGHT OF USE ASSET - OPERATING 3076596 HOUSING DEPOSITS 33425 3110021 LINE OF CREDIT 243188 OPERATING LEASE LIABILITY 3171666 3414854 X 6032989 38107 38107 5994882 10695 3720047 3730742 9725624 7372409 0 7372409 10695 3720047 3730742 11103151 PART III, LINE 4: THE ACADEMY'S COLLECTIONS ARE MADE UP OF ART OBJECTS THAT ARE HELD FOR PUBLIC EXHIBITION, EDUCATION AND RESEARCH FOR FURTHERANCE OF PUBLIC SERVICE. THE COLLECTIONS, WHICH WERE ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE ACADEMY'S INCEPTION, ARE NOT RECOGNIZED AS ASSETS ON THE CONSOLIDATED STATEMENTS OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED. CONTRIBUTED COLLECTION ITEMS ARE NOT REFLECTED ON THE CONSOLIDATED FINANCIAL STATEMENTS. PROCEEDS FROM SALES OR INSURANCE RECOVERIES ARE REFLECTED AS INCREASES IN TEMPORARILY RESTRICTED NET ASSETS. EACH OF THE ITEMS IS CATALOGED, PRESERVED AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. THE COLLECTIONS ARE SUBJECT TO A POLICY THAT REQUIRES PROCEEDS FROM THEIR SALES TO BE USED TO ACQUIRE OTHER ITEMS FOR COLLECTIONS. DURING BOTH THE YEARS ENDED MAY 31, 2025 AND 2024, SALES OF ART TOTALED $-0-. DURING BOTH THE YEARS ENDED MAY 31, 2025 AND 2024, THERE WERE NO ITEMS IN THE ACADEMY'S COLLECTIONS THAT WERE DAMAGED OR DESTROYED. PART V, LINE 4: THE ENDOWMENT FUNDS ARE INTENDED TO SUPPORT THE ACADEMY'S VARIOUS PURPOSES. PART X, LINE 2: THE ART ACADEMY OF CINCINNATI IS A NONPROFIT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND ARE EXEMPT FROM FEDERAL AND STATE INCOME TAXES ON RELATED INCOME PURSUANT TO THE INTERNAL REVENUE CODE. THE ACADEMY HAS ADOPTED THE PROVISIONS OF THE ACCOUNTING PRONOUNCEMENT RELATED TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE ACADEMY RECOGNIZED NO INTEREST OR PENALTIES IN THE STATEMENTS OF ACTIVITIES FOR EITHER OF THE YEARS ENDED MAY 31, 2025 OR 2024. IF THE SITUATION AROSE IN WHICH THE ACADEMY WOULD HAVE INTEREST TO RECOGNIZE, IT WOULD RECOGNIZE THIS AS INTEREST EXPENSE AND PENALTIES WOULD BE RECOGNIZED IN OTHER EXPENSES. CURRENTLY, THE PRIOR THREE YEARS ARE OPEN UNDER FEDERAL AND STATE STATUTE OF LIMITATIONS AND REMAIN SUBJECT TO REVIEW AND CHANGE. THE ACADEMY IS NOT CURRENTLY UNDER AUDIT, NOR HAS THE ACADEMY BEEN CONTACTED BY THESE JURISDICTIONS. BASED ON THE EVALUATION OF THE ACADEMY'S TAX POSITIONS, MANAGEMENT BELIEVES ALL POSITIONS TAKEN WOULD BE UPHELD UNDER AN EXAMINATION. THEREFORE, NO PROVISION FOR THE EFFECTS OF UNCERTAIN TAX POSITIONS HAS BEEN RECORDED FOR EITHER OF THE YEARS ENDED MAY 31, 2025 OR 2024. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID NETTED AGAINST TUITION REVENUE ON FINANCIALS 3,720,047. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID NETTED AGAINST TUITION REVENUE ON FINANCIALS 3,720,047. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE ART ACADEMY OF CINCINNATI PUBLISHES ITS RACIALLY NONDISCRIMINATORY POLICY ON THEIR WEBSITE, NEWSLETTERS AND SOCIAL MEDIA SCHEDULE E, PART I, LINE 6 THE ART ACADEMY OF CINCINNATI RECEIVES STATE AND CITY GRANTS FOR CAPITAL IMPROVEMENTS, FEDERAL FINANCIAL AID FOR STUDENTS. 1 SCHOLARSHIPS, INTERNALLY FUNDED THROUGH OPERATIONS & ENDOWMENT 194 3720047 PART I, LINE 2: SCHOLARSHIPS ARE MONITORED BY THE REGISTRAR AND FINANCIAL AID OFFICE AND THE FINANCE OFFICE FOR GPA REQUIREMENTS, ENROLLMENT REQUIREMENTS, AND OTHER ISSUES. REVIEWS ARE DONE REGULARLY. X X X 0 0 0 0 0 0 0 0 0 JOSEPH GIRANDOLA PRESIDENT 185400 0 30000 0 0 0 0 0 0 0 215400 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE FINANCE COMMITTEE WILL REVIEW THE FORM 990 PRIOR TO FILING, AND THEN IF APPROVED, THE FORM 990 WILL BE SENT TO THE FULL BOARD FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED TO ALL NEW TRUSTEES, OFFICERS AND EMPLOYEES. THE POLICY CLEARLY EXPLAINS THE DUTY TO REPORT ANY SUSPECTED VIOLATIONS AND THE PROCEDURES TO FOLLOW. THE ANNUAL ACKNOWLEDGEMENT AND DISCLOSURE STATEMENT IS TO BE SIGNED AND RETURNED TO THE FINANCE OFFICE. THE ORGANIZATON PERIODICALLY REVIEWS THE ANNUAL ACKNOWLEDGEMENT AND DISCLOSURE STATEMENT. IF A CONFLICT IS DISCOVERED, THE TRUSTEE WITH A CONFLICT CANNOT VOTE ON THE ISSUE. FORM 990, PART VI, SECTION B, LINE 15 THE CEO/PRESIDENT COMPENSATION IS REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES OR INDIVIDUAL(S) AUTHORIZED BY THE BOARD. DATA ON COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS ALONG WITH PERFORMANCE REVIEWS ARE USED TO DETERMINE COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE CONFLICT OF INTEREST POLICY AND AUDITED FINANCIALS ARE MADE AVAILABLE ON THE ART ACADEMY'S WEBSITE AT WWW.ARTACADEMY.EDU. GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIALS ARE ALSO AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN BENEFICIAL INTEREST IN REMAINDER TRUST -1,518. PART XII, LINE 2C: THE OVERSIGHT PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.