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Nonprofiteer
← FORTISSIMO

Form 990 for tax year 2022

Filed by FORTISSIMO.

What the amendment changed

Compared with the return it replaced , filed 14 April 2024. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Both are the same on the two returns, so the amendment changed something else.

Totals

Total revenue
$22,592,962
Total expenses
$24,625,228
Contributions and grants received
$6,768,779
Grants paid
$4,515,190
Program service revenue
$15,433,566
Investment income
$417,842
Other revenue
-$27,225
Total assets, end of year
$84,133,872
Total liabilities, end of year
$29,204,844
Net assets or fund balances, end of year
$54,929,028
Program services expenses (Part IX)
$20,160,396
Management and general expenses
$4,090,814
Fundraising expenses
$374,018
Program service expenses (Part III)
$20,160,396

Program services were 81.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $182,670

  • 1e · Government grants (contributions)

    $1,657,674

  • 1f · All other contributions, gifts and grants

    $4,928,435

  • 1g · Noncash contributions included above

    $505,906

  • 2a · Program service revenue: Tuition and fees

    total $15,149,091 · related or exempt $15,149,091 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Student housing and dining

    total $108,622 · related or exempt $108,622 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: Performance revenues

    total $8,744 · related or exempt $8,744 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $167,109 · related or exempt $167,109 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $335,154 · related or exempt $0 · unrelated business $0 · excluded $335,154

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $349,892 · personal property $0

  • 6b · Less rental expenses

    real property $377,117 · personal property $0

  • 6c · Rental income or loss

    real property -$27,225 · personal property $0

  • 6d · Net rental income or loss

    total -$27,225 · related or exempt $0 · unrelated business $0 · excluded -$27,225

  • 7a · Gross sales of assets other than inventory

    securities $1,147,972 · other assets $0

  • 7b · Less cost or other basis and sales expenses

    securities $1,065,284 · other assets $0

  • 7c · Gain or loss

    securities $82,688 · other assets $0

  • 7d · Net gain or loss

    total $82,688 · related or exempt $0 · unrelated business $0 · excluded $82,688

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0 · program services $0

  • 2 · Grants to domestic individuals

    total $4,421,970 · program services $4,421,970

  • 3 · Grants to foreign organizations and individuals

    total $93,220 · program services $93,220

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $1,008,103 · program services $319,610 · management and general $602,545 · fundraising $85,948

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $7,858,961 · program services $6,807,644 · management and general $926,716 · fundraising $124,601

  • 8 · Pension plan contributions

    total $276,174 · program services $221,986 · management and general $47,630 · fundraising $6,558

  • 9 · Other employee benefits

    total $971,661 · program services $781,011 · management and general $167,578 · fundraising $23,072

  • 10 · Payroll taxes

    total $615,310 · program services $494,580 · management and general $106,119 · fundraising $14,611

  • 11a · Fees: management

    total $303,794 · program services $303,794 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $139,495 · program services $0 · management and general $139,495 · fundraising $0

  • 11c · Fees: accounting

    total $58,775 · program services $0 · management and general $58,775 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $45,822 · program services $0 · management and general $45,822 · fundraising $0

  • 11g · Fees: other

    total $1,735,953 · program services $1,328,717 · management and general $346,646 · fundraising $60,590

  • 12 · Advertising and promotion

    total $175,252 · program services $166,693 · management and general $8,246 · fundraising $313

  • 13 · Office expenses

    total $618,858 · program services $494,543 · management and general $114,860 · fundraising $9,455

  • 14 · Information technology

    total $792,734 · program services $636,878 · management and general $131,683 · fundraising $24,173

  • 15 · Royalties

    total $8,727 · program services $8,727 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $1,336,027 · program services $1,242,642 · management and general $93,385 · fundraising $0

  • 17 · Travel

    total $350,128 · program services $337,305 · management and general $11,780 · fundraising $1,043

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $38,109 · program services $24,691 · management and general $13,353 · fundraising $65

  • 20 · Interest

    total $963,089 · program services $0 · management and general $963,089 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $1,606,604 · program services $1,481,427 · management and general $125,177 · fundraising $0

  • 23 · Insurance

    total $240,151 · program services $79,695 · management and general $160,456 · fundraising $0

  • 24a · Other expenses: Housing and meal subsidies

    total $439,234 · program services $439,234 · management and general $0 · fundraising $0

  • 24b · Other expenses: Transportation

    total $164,702 · program services $151,576 · management and general $13,126 · fundraising $0

  • 24c · Other expenses: Bad debt and write-offs

    total $134,465 · program services $128,364 · management and general $0 · fundraising $6,101

  • 24d · Other expenses: Janitorial svc & supplies

    total $129,788 · program services $127,471 · management and general $2,317 · fundraising $0

  • 24e · All other expenses

    total $98,122 · program services $68,618 · management and general $12,016 · fundraising $17,488

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,002,701 · end of year $763,248

  • 2 · Savings and temporary cash investments

    beginning of year $4,597,543 · end of year $1,663,896

  • 3 · Pledges and grants receivable

    beginning of year $1,083,754 · end of year $1,713,450

  • 4 · Accounts receivable

    beginning of year $5,862,497 · end of year $6,822,025

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $397,446 · end of year $314,950

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $248,899 · end of year $155,786

  • 10a · Land, buildings and equipment: cost or other basis

    $80,870,903

  • 10b · Land, buildings and equipment: accumulated depreciation

    $26,802,321

  • 10c · Land, buildings and equipment, net

    beginning of year $52,177,986 · end of year $54,068,582

  • 11 · Investments: publicly traded securities

    beginning of year $10,292,796 · end of year $6,848,863

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $12,284,757 · end of year $11,783,072

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,240,606 · end of year $1,326,232

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $177,506 · end of year $304,307

  • 20 · Tax-exempt bond liabilities

    beginning of year $12,323,000 · end of year $12,323,000

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $1,319,350 · end of year $1,227,356

  • 25 · Other liabilities

    beginning of year $14,569,679 · end of year $14,023,949

  • 27 · Net assets without donor restrictions

    beginning of year $42,524,261 · end of year $45,185,372

  • 28 · Net assets with donor restrictions

    beginning of year $14,793,977 · end of year $9,743,656

Mission and programs · 2022

Mission

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.

Activities or mission (Part I)

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.

  • 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.

    Expenses $20,160,396 · Grants $4,515,190 · Revenue $15,433,566

As filed on the 2022 return.

Listed in Part VII

  • Raymond Tymas-Jones

    President

    Total calculated
    $337,942
    From this org
    $321,709
    From related orgs
    $0
    Other
    $16,233
    Hours/week
    40 + 0.5 related

    Schedule J breakdown matched by us

    Base
    $269,265
    Bonus
    $0
    Other
    $52,444
    Deferred
    $12,998
    Nontaxable benefits
    $3,235
    Filer's total
    $337,942

  • Deborah Treen

    VP Finance & CFO

    Total calculated
    $194,491
    From this org
    $184,482
    From related orgs
    $0
    Other
    $10,009
    Hours/week
    40 + 0.5 related

    Schedule J breakdown matched by us

    Base
    $155,470
    Bonus
    $0
    Other
    $29,012
    Deferred
    $7,480
    Nontaxable benefits
    $2,529
    Filer's total
    $194,491

  • David Lofthouse

    Dean of Enrollment Mgmt

    Total calculated
    $194,419
    From this org
    $191,575
    From related orgs
    $0
    Other
    $2,844
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,429
    Bonus
    $0
    Other
    $24,146
    Deferred
    $533
    Nontaxable benefits
    $2,311
    Filer's total
    $194,419

  • Jessica Thurlow

    VP Academic Affairs, Provost

    Total calculated
    $187,574
    From this org
    $175,640
    From related orgs
    $0
    Other
    $11,934
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,281
    Bonus
    $0
    Other
    $27,359
    Deferred
    $7,214
    Nontaxable benefits
    $4,720
    Filer's total
    $187,574

  • Anne Derieux

    VP of Institutional Advancement

    Total calculated
    $153,743
    From this org
    $133,547
    From related orgs
    $0
    Other
    $20,196
    Hours/week
    40 + 0.5 related

    Schedule J breakdown matched by us

    Base
    $133,059
    Bonus
    $0
    Other
    $488
    Deferred
    $5,913
    Nontaxable benefits
    $14,283
    Filer's total
    $153,743

  • James Falzone

    Academic Dean

    Total calculated
    $123,504
    From this org
    $104,717
    From related orgs
    $0
    Other
    $18,787
    Hours/week
    40

  • Brandon Bird

    VP of Operations

    Total calculated
    $122,459
    From this org
    $114,443
    From related orgs
    $0
    Other
    $8,016
    Hours/week
    40

  • Emily Parkhurst

    Chair

    Total calculated
    $0
    Hours/week
    4

  • Michael Fortin

    Vice Chair

    Total calculated
    $0
    Hours/week
    4

  • Tracy Raissis

    Secretary

    Total calculated
    $0
    Hours/week
    4

  • Aggie Clark

    Treasurer

    Total calculated
    $0
    Hours/week
    4

  • L Robin Du Brin

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • Gary Fluhrer

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • Marianne Sorich Francis

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • Lawrence Hard

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • John Jordan

    Trustee

    Total calculated
    $0
    Hours/week
    4

  • Kathleen Le Coze

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • Leslie Mays

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • Karl Moehring

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • Joel Petersen

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • Sherry Raisbeck

    Trustee

    Total calculated
    $0
    Hours/week
    4

  • Joseph Rosa

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • Lisa Scribante

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • Cornish Foundation

    501c3 · endowed scholarships · WA · controlled entity

    Directly controlled by Cornish College of the Arts

Provenance

Return type
form_990
Tax year
2022
Filed
14 April 2024
IRS schema version
2022v5.0
Source object
202441069349301794

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