** PUBLIC DISCLOSURE COPY ** Return of Organization Exempt From Income Tax

Transcription

1 Form Under setion 501(), 527, or 4947(1) of the Internal Revenue Code (exept lak lung enefit trust or private foundation) Department of the Treasury Internal Revenue Servie The organization may have to use a opy of this return to satisfy state reporting requirements. A For the 2012 alendar year, or tax year eginning JUL 1, 2012 and ending JUN 0, 201 OMB Open to Puli Inspetion B Chek if C Name of organization D Employer identifiation numer appliale: Address hange Name hange THE UNIVERSITY OF THE ARTS Doing Business As Initial return Numer and street (or P.O. ox if mail is not delivered to street address) Room/suite E Telephone numer Terminated 20 SOUTH BROAD STREET (215) Amended return City, town, or post offie, state, and ZIP ode G Gross reeipts $ 101,405,26. Appliation PHILADELPHIA, PA H Is this a group return pending F Name and address of prinipal offier: STEPHEN J. LIGHTCAP for affiliates? Yes No SAME AS C ABOVE H() Are all affiliates inluded? Yes No I Tax-exempt status: 501()() 501() ( ) (insert no.) 4947(1) or 527 If "No," attah a list. (see instrutions) J Wesite: H() Group exemption numer K Form of organization: Corporation Trust Assoiation Other L Year of formation: 1876 M State of legal domiile: PA Part I Summary 1 Briefly desrie the organization s mission or most signifiant ativities: INSPIRING, EDUCATING & PREPARING INNOVATIVE ARTISTS AND CREATIVE LEADERS FOR THE 21ST CENTURY ARTS. Ativities & Governane Revenue Expenses Net Assets or Fund Balanes Sign Here Return of Organization Exempt From Inome Tax Chek this ox if the organization disontinued its operations or disposed of more than 25% of its net assets. Numer of voting memers of the governing ody (Part VI, line 1a) Numer of independent voting memers of the governing ody (Part VI, line 1) ~~~~~~~~~~~~~~ Total numer of individuals employed in alendar year 2012 (Part V, line 2a) ~~~~~~~~~~~~~~~~ Net unrelated usiness taxale inome from Form 990-T, line 4 16a Professional fundraising fees (Part I, olumn (A), line 11e) ~~~~~~~~~~~~~~ Total fundraising expenses (Part I, olumn (D), line 25) 1,009,89. ~~~~~~~~~~~~~~~~~~~~ Total numer of volunteers (estimate if neessary) ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 7 a Total unrelated usiness revenue from Part VIII, olumn (C), line 12 ~~~~~~~~~~~~~~~~~~~~ Contriutions and grants (Part VIII, line 1h) ~~~~~~~~~~~~~~~~~~~~~ Program servie revenue (Part VIII, line 2g) ~~~~~~~~~~~~~~~~~~~~~ Investment inome (Part VIII, olumn (A), lines, 4, and 7d) ~~~~~~~~~~~~~ Other revenue (Part VIII, olumn (A), lines 5, 6d, 8, 9, 10, and 11e) ~~~~~~~~ Total revenue - add lines 8 through 11 (must equal Part VIII, olumn (A), line 12) Grants and similar amounts paid (Part I, olumn (A), lines 1-) Benefits paid to or for memers (Part I, olumn (A), line 4) ~~~~~~~~~~~ ~~~~~~~~~~~~~ Salaries, other ompensation, employee enefits (Part I, olumn (A), lines 5-10) ~~~ true, orret, and omplete. Delaration of preparer (other than offier) is ased on all information of whih preparer has any knowledge. = = ** PUBLIC DISCLOSURE COPY ** Signature of offier Date STEPHEN J. LIGHTCAP, VP FOR FINANCE AND ADMINISTRATION Type or print name and title a Prior Year Current Year 16,147,054. 1,461,42. 81,15, ,256, ,671.,020,425. 1,682,575. 1,62, ,29, ,70,286. 4,716,291. 4,21, ,267,071. 6,049, Other expenses (Part I, olumn (A), lines 11a-11d, 11f-24e) ~~~~~~~~~~~~~ 28,877, ,806, Total expenses. Add lines 1-17 (must equal Part I, olumn (A), line 25) ~~~~~~~ 102,860, ,177, Revenue less expenses. Sutrat line 18 from line 12-4,567,099. 1,19,202. Beginning of Current Year End of Year 20 Total assets (Part, line 16) ~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 148,422, ,525, Total liailities (Part, line 26) ~~~~~~~~~~~~~~~~~~~~~~~~~~~ 77,914,819. 7,584, Net assets or fund alanes. Sutrat line 21 from line 20 70,507,5. 74,941,464. Part II Signature Blok Under penalties of perjury, I delare that I have examined this return, inluding aompanying shedules and statements, and to the est of my knowledge and elief, it is Print/Type preparer s name Preparer s signature Date Chek PTIN if Paid JULIUS GREEN, CPA self-employed P00509 Preparer Firm s name PARENTEBEARD LLC Firm s EIN Use Only Firm s address 1650 MARKET STREET, SUITE PHILADELPHIA, PA 1910 Phone no. (215) May the IRS disuss this return with the preparer shown aove? (see instrutions) Yes No LHA For Paperwork Redution At Notie, see the separate instrutions. Form 990 (2012)

2 Form 990 (2012) THE UNIVERSITY OF THE ARTS Part III Statement of Program Servie Aomplishments a Chek if Shedule O ontains a response to any question in this Part III Briefly desrie the organization s mission: THE ARTS HAVE THE POWER TO TRANSFORM SOCIETY. THEY PLAY AN ESSENTIAL ROLE IN ENSURING AND ENHANCING THE QUALITY OF LIFE. THE UNIVERSITY OF THE ARTS IS COMMITTED TO INSPIRING, EDUCATING AND PREPARING INNOVATIVE ARTISTS AND CREATIVE LEADERS FOR THE ARTS OF THE 21ST CENTURY. Did the organization undertake any signifiant program servies during the year whih were not listed on the prior Form 990 or 990-EZ? If "Yes," desrie these new servies on Shedule O. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Did the organization ease onduting, or make signifiant hanges in how it onduts, any program servies? ~~~~~~ If "Yes," desrie these hanges on Shedule O. Desrie the organization s program servie aomplishments for eah of its three largest program servies, as measured y expenses. Setion 501()() and 501()(4) organizations are required to report the amount of grants and alloations to others, the total expenses, and Yes Yes Page 2 revenue, if any, for eah program servie reported. ( Code: ) ( Expenses $ 49,85,017. inluding grants of $ 28,548,007. ) ( Revenue $ 72,946,0. ) INSTRUCTION - EPENSES INCURRED IN PROVIDING ACADEMIC INSTRUCTION THROUGH OUR INNOVATIVE CURRICULA TO OUR 2,100 STUDENTS, WHO ARE ENROLLED IN 41 UNDERGRADUATE AND GRADUATE PROGRAMS THROUGH OUR SCHOOL OF ART, SCHOOL OF DESIGN AND SCHOOL OF FILM IN THE COLLEGE OF ART, MEDIA & DESIGN; THE SCHOOL OF DANCE, THE IRA BRIND SCHOOL OF THEATER ARTS AND THE SCHOOL OF MUSIC IN THE COLLEGE OF PERFORMING ARTS; AND THE DIVISION OF LIBERAL ARTS; AND,71 STUDENTS SERVED ANNUALLY BY OUR DIVISION OF CONTINUING STUDIES. No No 4 14,047,87. 5,77,170. ACADEMIC SUPPORT - COSTS INCURRED WITH THE MAINTENANCE OF PROGRAMS AND ACTIVITIES FOR FACULTY AND STUDENTS, INCLUDING ACADEMIC ADVISING, OUR SEVEN PROFESSIONAL PERFORMANCE VENUES, 12 ART GALLERIES, UNIVERSITY LIBRARIES SYSTEM, A WIDE RANGE OF ART- AND CRAFT-RELATED STUDIOS AND WORKSHOPS, AND TECHNOLOGICAL RESOURCES AND SUPPORT. ( Code: ) ( Expenses $ inluding grants of $ ) ( Revenue $ ) 4 6,641,85. 7,90,15. STUDENT SERVICES - COSTS INCURRED WITH THE MAINTENANCE OF PROGRAMS THAT SUPPORT OUR STUDENT BODY, INCLUDING DINING SERVICES, RESIDENTIAL FACILITIES, MEDICAL SERVICES, MENTAL HEALTH COUNSELING, STUDENT CLUBS AND ORGANIZATIONS, SPORTS AND RECREATION, LEADERSHIP TRAINING, CAREER COUNSELING, AND ACCESSIBILITY SERVICES FOR STUDENTS WITH DISABILITIES. ( Code: ) ( Expenses $ inluding grants of $ ) ( Revenue $ ) 4d Other program servies (Desrie in Shedule O.) ( Expenses $ inluding grants of $ ) ( Revenue $ ) 4e Total program servie expenses J 70,074,74. Form 990 (2012) THE UNIVERSITY OF THE ARTS

3 Form 990 (2012) THE UNIVERSITY OF THE ARTS Part IV Cheklist of Required Shedules a a d e f 20a Is the organization desried in setion 501()() or 4947(1) (other than a private foundation)? If "Yes," omplete Shedule A~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Is the organization required to omplete Shedule B, Shedule of Contriutors? ~~~~~~~~~~~~~~~~~~~~~~ Did the organization engage in diret or indiret politial ampaign ativities on ehalf of or in opposition to andidates for puli offie? If "Yes," omplete Shedule C, Part I ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Setion 501()() organizations. Did the organization engage in loying ativities, or have a setion 501(h) eletion in effet during the tax year? If "Yes," omplete Shedule C, Part II ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Is the organization a setion 501()(4), 501()(5), or 501()(6) organization that reeives memership dues, assessments, or similar amounts as defined in Revenue Proedure 98-19? If "Yes," omplete Shedule C, Part III ~~~~~~~~~~~~~~ Did the organization maintain any donor advised funds or any similar funds or aounts for whih donors have the right to provide advie on the distriution or investment of amounts in suh funds or aounts? If "Yes," omplete Shedule D, Part I Did the organization reeive or hold a onservation easement, inluding easements to preserve open spae, the environment, histori land areas, or histori strutures? If "Yes," omplete Shedule D, Part II~~~~~~~~~~~~~~ Did the organization maintain olletions of works of art, historial treasures, or other similar assets? If "Yes," omplete Shedule D, Part III ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Did the organization report an amount in Part, line 21, for esrow or ustodial aount liaility; serve as a ustodian for amounts not listed in Part ; or provide redit ounseling, det management, redit repair, or det negotiation servies? If "Yes," omplete Shedule D, Part IV ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Did the organization, diretly or through a related organization, hold assets in temporarily restrited endowments, permanent endowments, or quasi-endowments? If "Yes," omplete Shedule D, Part V ~~~~~~~~~~~~~~~~~~~~~~~~ If the organization s answer to any of the following questions is "Yes," then omplete Shedule D, Parts VI, VII, VIII, I, or as appliale. Did the organization report an amount for land, uildings, and equipment in Part, line 10? If "Yes," omplete Shedule D, Part VI ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Did the organization report an amount for investments - other seurities in Part, line 12 that is 5% or more of its total assets reported in Part, line 16? If "Yes," omplete Shedule D, Part VII ~~~~~~~~~~~~~~~~~~~~~~~~~ Did the organization report an amount for investments - program related in Part, line 1 that is 5% or more of its total assets reported in Part, line 16? If "Yes," omplete Shedule D, Part VIII ~~~~~~~~~~~~~~~~~~~~~~~~~ Did the organization report an amount for other assets in Part, line 15 that is 5% or more of its total assets reported in Part, line 16? If "Yes," omplete Shedule D, Part I ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Did the organization report an amount for other liailities in Part, line 25? If "Yes," omplete Shedule D, Part ~~~~~~ Did the organization s separate or onsolidated finanial statements for the tax year inlude a footnote that addresses the organization s liaility for unertain tax positions under FIN 48 (ASC 740)? If "Yes," omplete Shedule D, Part ~~~~ Did the organization otain separate, independent audited finanial statements for the tax year? If "Yes," omplete Shedule D, Parts I and II ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Was the organization inluded in onsolidated, independent audited finanial statements for the tax year? If "Yes," and if the organization answered "No" to line 12a, then ompleting Shedule D, Parts I and II is optional ~~~~~ Is the organization a shool desried in setion 170()(1)(A)(ii)? If "Yes," omplete Shedule E ~~~~~~~~~~~~~~ 14a Did the organization maintain an offie, employees, or agents outside of the United States? ~~~~~~~~~~~~~~~~ Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, usiness, investment, and program servie ativities outside the United States, or aggregate foreign investments valued at $100,000 or more? If "Yes," omplete Shedule F, Parts I and IV ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Did the organization report on Part I, olumn (A), line, more than $5,000 of grants or assistane to any organization or entity loated outside the United States? If "Yes," omplete Shedule F, Parts II and IV ~~~~~~~~~~~~~~~~~ Did the organization report on Part I, olumn (A), line, more than $5,000 of aggregate grants or assistane to individuals loated outside the United States? If "Yes," omplete Shedule F, Parts III and IV ~~~~~~~~~~~~~~~~~~~~~ Did the organization report a total of more than $15,000 of expenses for professional fundraising servies on Part I, olumn (A), lines 6 and 11e? If "Yes," omplete Shedule G, Part I ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Did the organization report more than $15,000 total of fundraising event gross inome and ontriutions on Part VIII, lines 1 and 8a? If "Yes," omplete Shedule G, Part II ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Did the organization report more than $15,000 of gross inome from gaming ativities on Part VIII, line 9a? If "Yes," omplete Shedule G, Part III ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Did the organization operate one or more hospital failities? If "Yes," omplete Shedule H ~~~~~~~~~~~~~~~~ If "Yes" to line 20a, did the organization attah a opy of its audited finanial statements to this return? a d 11e 11f 12a a a Yes Page No 20 Form 990 (2012) THE UNIVERSITY OF THE ARTS

4 Form 990 (2012) THE UNIVERSITY OF THE ARTS Part IV Cheklist of Required Shedules (ontinued) a d 25a Setion 501()() and 501()(4) organizations. Did the organization engage in an exess enefit transation with a disqualified person during the year? If "Yes," omplete Shedule L, Part I ~~~~~~~~~~~~~~~~~~~~~~~~~ a Did the organization report more than $5,000 of grants and other assistane to any government or organization in the United States on Part I, olumn (A), line 1? If "Yes," omplete Shedule I, Parts I and II ~~~~~~~~~~~~~~~~~~ Did the organization report more than $5,000 of grants and other assistane to individuals in the United States on Part I, olumn (A), line 2? If "Yes," omplete Shedule I, Parts I and III ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Did the organization answer "Yes" to Part VII, Setion A, line, 4, or 5 aout ompensation of the organization s urrent and former offiers, diretors, trustees, key employees, and highest ompensated employees? If "Yes," omplete Shedule J ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Did the organization have a tax-exempt ond issue with an outstanding prinipal amount of more than $100,000 as of the last day of the year, that was issued after Deemer 1, 2002? If "Yes," answer lines 24 through 24d and omplete Shedule K. If "No", go to line 25 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Did the organization invest any proeeds of tax-exempt onds eyond a temporary period exeption? ~~~~~~~~~~~ Did the organization maintain an esrow aount other than a refunding esrow at any time during the year to defease any tax-exempt onds? ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Did the organization at as an "on ehalf of" issuer for onds outstanding at any time during the year? ~~~~~~~~~~~ Is the organization aware that it engaged in an exess enefit transation with a disqualified person in a prior year, and that the transation has not een reported on any of the organization s prior Forms 990 or 990-EZ? If "Yes," omplete Shedule L, Part I ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Was a loan to or y a urrent or former offier, diretor, trustee, key employee, highest ompensated employee, or disqualified person outstanding as of the end of the organization s tax year? If "Yes," omplete Shedule L, Part II ~~~~~~~~~~~ Did the organization provide a grant or other assistane to an offier, diretor, trustee, key employee, sustantial ontriutor or employee thereof, a grant seletion ommittee memer, or to a 5% ontrolled entity or family memer of any of these persons? If "Yes," omplete Shedule L, Part III ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Was the organization a party to a usiness transation with one of the following parties (see Shedule L, Part IV instrutions for appliale filing thresholds, onditions, and exeptions): A urrent or former offier, diretor, trustee, or key employee? If "Yes," omplete Shedule L, Part IV ~~~~~~~~~~~ A family memer of a urrent or former offier, diretor, trustee, or key employee? If "Yes," omplete Shedule L, Part IV ~~ An entity of whih a urrent or former offier, diretor, trustee, or key employee (or a family memer thereof) was an offier, diretor, trustee, or diret or indiret owner? If "Yes," omplete Shedule L, Part IV~~~~~~~~~~~~~~~~~~~~~ Did the organization reeive more than $25,000 in non-ash ontriutions? If "Yes," omplete Shedule M ~~~~~~~~~ Did the organization reeive ontriutions of art, historial treasures, or other similar assets, or qualified onservation ontriutions? If "Yes," omplete Shedule M ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Did the organization liquidate, terminate, or dissolve and ease operations? If "Yes," omplete Shedule N, Part I ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Did the organization sell, exhange, dispose of, or transfer more than 25% of its net assets? If "Yes," omplete Shedule N, Part II ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Did the organization own 100% of an entity disregarded as separate from the organization under Regulations setions and ? If "Yes," omplete Shedule R, Part I ~~~~~~~~~~~~~~~~~~~~~~~~ Was the organization related to any tax-exempt or taxale entity? If "Yes," omplete Shedule R, Part II, III, or IV, and Part V, line 1 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 5a Did the organization have a ontrolled entity within the meaning of setion 512()(1)? ~~~~~~~~~~~~~~~~~~ If "Yes" to line 5a, did the organization reeive any payment from or engage in any transation with a ontrolled entity within the meaning of setion 512()(1)? If "Yes," omplete Shedule R, Part V, line 2 ~~~~~~~~~~~~~~~~~~~ Setion 501()() organizations. Did the organization make any transfers to an exempt non-haritale related organization? If "Yes," omplete Shedule R, Part V, line 2 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Did the organization ondut more than 5% of its ativities through an entity that is not a related organization and that is treated as a partnership for federal inome tax purposes? If "Yes," omplete Shedule R, Part VI ~~~~~~~~ Did the organization omplete Shedule O and provide explanations in Shedule O for Part VI, lines 11 and 19? Note. All Form 990 filers are required to omplete Shedule O a d 25a a a Yes Page 4 No 8 Form 990 (2012) THE UNIVERSITY OF THE ARTS

5 Form 990 (2012) THE UNIVERSITY OF THE ARTS Page 5 Part V Statements Regarding Other IRS Filings and Tax Compliane Chek if Shedule O ontains a response to any question in this Part V 1a Enter the numer reported in Box of Form Enter -0- if not appliale ~~~~~~~~~~~ a Enter the numer of Forms W-2G inluded in line 1a. Enter -0- if not appliale ~~~~~~~~~~ 1 Did the organization omply with akup withholding rules for reportale payments to vendors and reportale gaming If at least one is reported on line 2a, did the organization file all required federal employment tax returns? ~~~~~~~~~~ Note. If the sum of lines 1a and 2a is greater than 250, you may e required to e-file (see instrutions) 7 Organizations that may reeive dedutile ontriutions under setion 170(). a Did the organization reeive a payment in exess of $75 made partly as a ontriution and partly for goods and servies provided to the payor? d e f g h If the organization reeived a ontriution of ars, oats, airplanes, or other vehiles, did the organization file a Form 1098-C? 8 Sponsoring organizations maintaining donor advised funds and setion 509() supporting organizations. Did the supporting organization, or a donor advised fund maintained y a sponsoring organization, have exess usiness holdings at any time during the year? a a a 14a Sponsoring organizations maintaining donor advised funds. Setion 501()(7) organizations. Enter: Setion 501()(12) organizations. Enter: 12a Setion 4947(1) non-exempt haritale trusts. Is the organization filing Form 990 in lieu of Form 1041? a (gamling) winnings to prize winners? 2a Enter the numer of employees reported on Form W-, Transmittal of Wage and Tax Statements, filed for the alendar year ending with or within the year overed y this return ~~~~~~~~~~ Did the organization have unrelated usiness gross inome of $1,000 or more during the year? ~~~~~~~~~~~~~~ If "Yes," has it filed a Form 990-T for this year? If "No," provide an explanation in Shedule O ~~~~~~~~~~~~~~~ 4a At any time during the alendar year, did the organization have an interest in, or a signature or other authority over, a finanial aount in a foreign ountry (suh as a ank aount, seurities aount, or other finanial aount)?~~~~~~~ If "Yes," enter the name of the foreign ountry: JCAYMAN ISLANDS See instrutions for filing requirements for Form TD F , Report of Foreign Bank and Finanial Aounts. 5a Was the organization a party to a prohiited tax shelter transation at any time during the tax year? ~~~~~~~~~~~~ Did any taxale party notify the organization that it was or is a party to a prohiited tax shelter transation? ~~~~~~~~~ If "Yes," to line 5a or 5, did the organization file Form 8886-T? ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 6a Does the organization have annual gross reeipts that are normally greater than $100,000, and did the organization soliit any ontriutions that were not tax dedutile as haritale ontriutions? If "Yes," did the organization inlude with every soliitation an express statement that suh ontriutions or gifts were not tax dedutile? ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ If "Yes," did the organization notify the donor of the value of the goods or servies provided? Setion 501()(29) qualified nonprofit health insurane issuers. Note. See the instrutions for additional information the organization must report on Shedule O. Did the organization reeive any payments for indoor tanning servies during the tax year? ~~~~~~~~~~~~~~~~ If "Yes," has it filed a Form 720 to report these payments? If "No," provide an explanation in Shedule O 1a 2a ~~~~~~~~~~~~~~~~~~~~~~~~ Did the organization sell, exhange, or otherwise dispose of tangile personal property for whih it was required to file Form 8282? ~~~~~~~~~~~~~~~ If "Yes," indiate the numer of Forms 8282 filed during the year ~~~~~~~~~~~~~~~~ Did the organization reeive any funds, diretly or indiretly, to pay premiums on a personal enefit ontrat? Did the organization, during the year, pay premiums, diretly or indiretly, on a personal enefit ontrat? 7d 10a 10 11a ~~~~~~~ ~~~~~~~~~ If the organization reeived a ontriution of qualified intelletual property, did the organization file Form 8899 as required? ~ Did the organization make any taxale distriutions under setion 4966? ~~~~~~~~~~~~~~~~~~~~~~~~~~ Did the organization make a distriution to a donor, donor advisor, or related person? ~~~~~~~~~~~~~~~~~~~ Initiation fees and apital ontriutions inluded on Part VIII, line 12 ~~~~~~~~~~~~~~~ Gross reeipts, inluded on Form 990, Part VIII, line 12, for puli use of lu failities ~~~~~~ Gross inome from memers or shareholders ~~~~~~~~~~~~~~~~~~~~~~~~~~ Gross inome from other soures (Do not net amounts due or paid to other soures against amounts due or reeived from them.) ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ If "Yes," enter the amount of tax-exempt interest reeived or arued during the year Is the organization liensed to issue qualified health plans in more than one state? ~~~~~~~~~~~~~~~~~~~~~ Enter the amount of reserves the organization is required to maintain y the states in whih the organization is liensed to issue qualified health plans ~~~~~~~~~~~~~~~~~~~~~~ Enter the amount of reserves on hand~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ a 4a 5a 5 5 6a 6 7a 7 7 7e 7f 7g 7h 8 9a 9 12a 1a 14a Yes No 14 Form 990 (2012) THE UNIVERSITY OF THE ARTS

6 Form 990 (2012) THE UNIVERSITY OF THE ARTS Page 6 Part VI Governane, Management, and Dislosure For eah "Yes" response to lines 2 through 7 elow, and for a "No" response to line 8a, 8, or 10 elow, desrie the irumstanes, proesses, or hanges in Shedule O. See instrutions. Chek if Shedule O ontains a response to any question in this Part VI Setion A. Governing Body and Management Yes 1a Enter the numer of voting memers of the governing ody at the end of the tax year ~~~~~~ 1a 4 If there are material differenes in voting rights among memers of the governing ody, or if the governing a 9 Is there any offier, diretor, trustee, or key employee listed in Part VII, Setion A, who annot e reahed at the organization s mailing address? If "Yes," provide the names and addresses in Shedule O Setion B. Poliies (This Setion B requests information aout poliies not required y the Internal Revenue Code.) 12a a 16a exempt status with respet to suh arrangements? Setion C. Dislosure 17 List the states with whih a opy of this Form 990 is required to e filed JPA ody delegated road authority to an exeutive ommittee or similar ommittee, explain in Shedule O. Enter the numer of voting memers inluded in line 1a, aove, who are independent ~~~~~~ Did any offier, diretor, trustee, or key employee have a family relationship or a usiness relationship with any other offier, diretor, trustee, or key employee? ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Did the organization delegate ontrol over management duties ustomarily performed y or under the diret supervision of offiers, diretors, or trustees, or key employees to a management ompany or other person? ~~~~~~~~~~~~~~ Did the organization make any signifiant hanges to its governing douments sine the prior Form 990 was filed? ~~~~~ Did the organization eome aware during the year of a signifiant diversion of the organization s assets? ~~~~~~~~~ Did the organization have memers or stokholders? ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 7a Did the organization have memers, stokholders, or other persons who had the power to elet or appoint one or more memers of the governing ody? ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Are any governane deisions of the organization reserved to (or sujet to approval y) memers, stokholders, or persons other than the governing ody? ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Did the organization ontemporaneously doument the meetings held or written ations undertaken during the year y the following: The governing ody? ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Eah ommittee with authority to at on ehalf of the governing ody? Desrie in Shedule O the proess, if any, used y the organization to review this Form 990. Did the organization have a written onflit of interest poliy? If "No," go to line 1 ~~~~~~~~~~~~~~~~~~~~ Were offiers, diretors, or trustees, and key employees required to dislose annually interests that ould give rise to onflits? ~~~~~~ Did the organization regularly and onsistently monitor and enfore ompliane with the poliy? If "Yes," desrie in Shedule O how this was done ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ for puli inspetion. Indiate how you made these availale. Chek all that apply. Own wesite Another s wesite Upon request Other (explain in Shedule O) 1 ~~~~~~~~~~~~~~~~~~~~~~~~~~ 10a Did the organization have loal hapters, ranhes, or affiliates? ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ If "Yes," did the organization have written poliies and proedures governing the ativities of suh hapters, affiliates, and ranhes to ensure their operations are onsistent with the organization s exempt purposes? ~~~~~~~~~~~~~ 11a Has the organization provided a omplete opy of this Form 990 to all memers of its governing ody efore filing the form? Did the organization have a written whistlelower poliy? ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Did the organization have a written doument retention and destrution poliy? ~~~~~~~~~~~~~~~~~~~~~~ Did the proess for determining ompensation of the following persons inlude a review and approval y independent persons, omparaility data, and ontemporaneous sustantiation of the delieration and deision? The organization s CEO, Exeutive Diretor, or top management offiial Other offiers or key employees of the organization ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ If "Yes" to line 15a or 15, desrie the proess in Shedule O (see instrutions). ~~~~~~~~~~~~~~~~~~~~~~~~~~ Did the organization invest in, ontriute assets to, or partiipate in a joint venture or similar arrangement with a taxale entity during the year? ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ If "Yes," did the organization follow a written poliy or proedure requiring the organization to evaluate its partiipation in joint venture arrangements under appliale federal tax law, and take steps to safeguard the organization s Setion 6104 requires an organization to make its Forms 102 (or 1024 if appliale), 990, and 990-T (Setion 501()()s only) availale Desrie in Shedule O whether (and if so, how), the organization made its governing douments, onflit of interest poliy, and finanial statements availale to the puli during the tax year. 20 State the name, physial address, and telephone numer of the person who possesses the ooks and reords of the organization: STEPHEN J. LIGHTCAP, VP FINANCE & ADMINISTRATION - (215) SOUTH BROAD STREET, PHILADELPHIA, PA Form 990 (2012) THE UNIVERSITY OF THE ARTS a 7 8a a 10 11a 12a a 15 16a 16 Yes No No

7 Form 990 (2012) THE UNIVERSITY OF THE ARTS Page 7 Part VII Compensation of Offiers, Diretors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contrators Chek if Shedule O ontains a response to any question in this Part VII Setion A. Offiers, Diretors, Trustees, Key Employees, and Highest Compensated Employees 1a Complete this tale for all persons required to e listed. Report ompensation for the alendar year ending with or within the organization s tax year. List all of the organization s urrent offiers, diretors, trustees (whether individuals or organizations), regardless of amount of ompensation. Enter -0- in olumns (D), (E), and (F) if no ompensation was paid. List all of the organization s urrent key employees, if any. See instrutions for definition of "key employee." List the organization s five urrent highest ompensated employees (other than an offier, diretor, trustee, or key employee) who reeived reportale ompensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from the organization and any related organizations. List all of the organization s former offiers, key employees, and highest ompensated employees who reeived more than $100,000 of reportale ompensation from the organization and any related organizations. List all of the organization s former diretors or trustees that reeived, in the apaity as a former diretor or trustee of the organization, more than $10,000 of reportale ompensation from the organization and any related organizations. List persons in the following order: individual trustees or diretors; institutional trustees; offiers; key employees; highest ompensated employees; and former suh persons. Chek this ox if neither the organization nor any related organization ompensated any urrent offier, diretor, or trustee. (A) (B) (C) (D) (E) (F) Name and Title Average hours per week (list any hours for related organizations elow line) Position (do not hek more than one ox, unless person is oth an offier and a diretor/trustee) Individual trustee or diretor Institutional trustee Offier Key employee Highest ompensated employee Former Reportale ompensation from the organization (W-2/1099-MISC) Reportale ompensation from related organizations (W-2/1099-MISC) Estimated amount of other ompensation from the organization and related organizations (1) SEAN BUFFINGTON PRESIDENT & CEO 288, ,001. (2) RONALD J. NAPLES 1.00 CHAIRMAN () FRANCIS J. MIRABELLO, ESQ SECRETARY/BOARD MEMBER (4) IRA BRIND 1.00 VICE CHAIR (5) RONALD CAPLAN 1.00 VICE CHAIR (6) ADOLF A. PAIER 1.00 TREASURER/VICE CHAIR (7) HARRIET G. WEISS 1.00 VICE CHAIR (8) ELEANOR L. DAVIS 1.00 VICE CHAIR (9) DEANNA DECHERNEY 1.00 TRUSTEE (10) MELISSA HELLER 1.00 TRUSTEE (11) RICHARD P. JAFFE 1.00 TRUSTEE (12) SCOTT M. JENKINS 1.00 TREASURER/VICE CHAIR (1) GAIL KASS 1.00 TRUSTEE (14) ELAINE C. LEVITT 1.00 TRUSTEE (15) KAREN LOTMAN 1.00 TRUSTEE (16) SEYMOUR G. MANDELL 1.00 TRUSTEE (17) DR. NOEL MAYO 1.00 TRUSTEE Form 990 (2012) THE UNIVERSITY OF THE ARTS

8 Form 990 (2012) THE UNIVERSITY OF THE ARTS Page 8 Part VII Setion A. Offiers, Diretors, Trustees, Key Employees, and Highest Compensated Employees (ontinued) (A) (B) (C) (D) (E) (F) Name and title Average Position (do not hek more than one Reportale Reportale Estimated hours per ox, unless person is oth an ompensation ompensation amount of week offier and a diretor/trustee) from from related other (list any the organizations ompensation hours for organization (W-2/1099-MISC) from the related (W-2/1099-MISC) organization organizations and related elow organizations line) d Su-total~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Total from ontinuation sheets to Part VII, Setion A ~~~~~~~~ Total (add lines 1 and 1) Individual trustee or diretor Institutional trustee Did the organization list any former offier, diretor, or trustee, key employee, or highest ompensated employee on line 1a? If "Yes," omplete Shedule J for suh individual ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 5 Did any person listed on line 1a reeive or arue ompensation from any unrelated organization or individual for servies rendered to the organization? If "Yes," omplete Shedule J for suh person Setion B. Independent Contrators 1 Total numer of individuals (inluding ut not limited to those listed aove) who reeived more than $100,000 of reportale ompensation from the organization For any individual listed on line 1a, is the sum of reportale ompensation and other ompensation from the organization and related organizations greater than $150,000? If "Yes," omplete Shedule J for suh individual~~~~~~~~~~~~~ Offier (18) THOMAS M. MILES 1.00 TRUSTEE (19) JILL R. FELI COLTON 1.00 TRUSTEE (20) JOSEPH F. CORADINO 1.00 TRUSTEE (21) LAWRENCE S. REICHLIN 1.00 TRUSTEE (22) MICHAEL C. FORMAN 1.00 TRUSTEE (2) JAMES P. VESEY 1.00 TRUSTEE (24) WILLIAM WILSON 1.00 TRUSTEE (25) DORRANCE H. HAMILTON 1.00 LIFE TRUSTEE (26) SAM S. MCKEEL 1.00 LIFE TRUSTEE Complete this tale for your five highest ompensated independent ontrators that reeived more than $100,000 of ompensation from the organization. Report ompensation for the alendar year ending with or within the organization s tax year. 2 Total numer of independent ontrators (inluding ut not limited to those listed aove) who reeived more than $100,000 of ompensation from the organization 15 SEE PART VII, SECTION A CONTINUATION SHEETS Form 990 (2012) THE UNIVERSITY OF THE ARTS Key employee Highest ompensated employee Former 288, ,001. 1,548, ,008. 1,87, ,009. (A) (B) (C) Name and usiness address Desription of servies Compensation PARKHURST DINING SERVICES PO BO , PITTSBURGH, PA FOOD SERVICES 2,02,622. ALLIEDBARTON SECURITY SERVICES PO BO , PHILADELPHIA, PA SECURITY SERVICES 1,581,644. LIPMAN HEARNE, INC PO BO 8864 DEPT A, CHICAGO, IL ADVERTISING 608,709. LIMA COMPANY 9050 STATE ST, PHILADELPHIA, PA 1916 MAINTENANCE 454,546. CRW GRAPHICS, 9100 PENNSAUKEN HIGHWAY, PRINTING AND PENNSAUKEN, NJ PUBLICATIONS 14, Yes 21 No

9 Form 990 Part VII Setion A. Offiers, Diretors, Trustees, Key Employees, and Highest Compensated Employees (ontinued) (A) (B) (C) (D) (E) (F) Name and title THE UNIVERSITY OF THE ARTS Average hours per week (list any hours for related organizations elow line) Position (hek all that apply) Individual trustee or diretor Institutional trustee Offier Key employee Highest ompensated employee Former Reportale ompensation from the organization (W-2/1099-MISC) Reportale ompensation from related organizations (W-2/1099-MISC) Estimated amount of other ompensation from the organization and related organizations (27) MARK DONNOLO 1.00 TRUSTEE (28) BRIAN EFFRON 1.00 VICE CHAIR (29) WILLIAM R. GAST 1.00 TRUSTEE (0) JEFFREY A. LUTSKY 1.00 SECRETARY (1) GEORGE A. BEACH 1.00 TRUSTEE (2) ALBERT E. WOLF 1.00 TRUSTEE () JEFFREY R. SELIGSOHN 1.00 TRUSTEE (4) ALAN I. RUBIN 1.00 TRUSTEE (5) PAMELA SHROPSHIRE EECUTIVE ASSISTANT/ASSISTANT SECRET 2, ,076. (6) STEPHEN LIGHTCAP VP FOR FINANCE AND ADMINIS/ASSISTANT 192, ,75. (7) PETER DANZIG SENIOR SECRETARY/ASSISTANT SECRETARY 4, ,810. (8) KIRK PILLOW PROVOST 207, ,266. (9) LUCILLE HUGHES VP OF ADVANCEMENT 174, ,780. (40) PAULA MARINCOLA EECUTIVE DIRECTOR 210, ,574. (41) CHRISTOPHER SHARROCK DEAN OF CAMD 16, ,911. (42) PHIL VAN CLEAVE VP OF FACILITIES MANAGEMEN 14, ,058. (4) FRANCIS KUMIN DIRECTOR 144, ,67. (44) MELISSA FRANKLIN DIRECTOR 12, ,480. (45) THOMAS CARNWATH VP OF TECHNOLOGY & INFO 149, ,951. Total to Part VII, Setion A, line 1 1,548,965. 0, THE UNIVERSITY OF THE ARTS

10 Form 990 (2012) THE UNIVERSITY OF THE ARTS Part VIII Statement of Revenue Contriutions, Gifts, Grants and Other Similar Amounts Program Servie Revenue Other Revenue 1 a d e f g Nonash ontriutions inluded in lines 1a-1f: $ h 2 a 4 5 d e f g 6 a d d 9 a 10 a Government grants (ontriutions) All other ontriutions, gifts, grants, and similar amounts not inluded aove ~~ 1a 1 1 1d 1e 1f Total. Add lines 1a-1f Total. Add lines 2a-2f a a a Page 9 Chek if Shedule O ontains a response to any question in this Part VIII (A) (B) (C) (D) Total revenue Related or Unrelated Revenue exluded exempt funtion usiness from tax under setions 512, revenue revenue 51, or 514 Federated ampaigns Memership dues ~~~~~~ ~~~~~~~~ Fundraising events ~~~~~~~~ Related organizations ~~~~~~ All other program servie revenue ~~~~~ Investment inome (inluding dividends, interest, and other similar amounts) ~~~~~~~~~~~~~~~~~ Inome from investment of tax-exempt ond proeeds Royalties Gross rents ~~~~~~~ Less: rental expenses~~~ Rental inome or (loss) ~~ Net rental inome or (loss) 7 a Gross amount from sales of assets other than inventory Less: ost or other asis and sales expenses ~~~ Gain or (loss) ~~~~~~~ (i) Real (ii) Personal 788, , ,646. (i) Seurities 4,28,402. (ii) Other Net gain or (loss) 8 a Gross inome from fundraising events (not inluding $ 256,418. of ontriutions reported on line 1). See Part IV, line 18 ~~~~~~~~~~~~~ Less: diret expenses~~~~~~~~~~ Net inome or (loss) from fundraising events Gross inome from gaming ativities. See Part IV, line 19 ~~~~~~~~~~~~~ Less: diret expenses ~~~~~~~~~ Net inome or (loss) from gaming ativities Gross sales of inventory, less returns and allowanes ~~~~~~~~~~~~~ Less: ost of goods sold ~~~~~~~~ 256, ,19. 12,545, ,7. Net inome or (loss) from sales of inventory 1,461,42. Business Code STUDENT TUITION & FEES ,946,0. 72,946,0. RESIDENCE HALLS ,622,698. 4,622,698. DINING SERVICES ,687,781. 2,687,781. 2,298,274. 1,940, , ,114., ,91. 80,256,512. 1,080,297. 1,080, , ,646. 1,940,128. 1,940,128. 2,701. 2, , ,656. Misellaneous Revenue Business Code 11 a PEW/PEI OVERHEAD , ,945. WP REAL ESTATE FUND , ,184. ADMISSIONS APPLICATION FEES , ,020. d All other revenue ~~~~~~~~~~~~~ , ,855. e Total. Add lines 11a-11d ~~~~~~~~~~~~~~~ 1,100, Total revenue. See instrutions. 98,70, ,6, ,572, Form 990 (2012) THE UNIVERSITY OF THE ARTS

11 Form 990 (2012) THE UNIVERSITY OF THE ARTS Part I Statement of Funtional Expenses Setion 501()() and 501()(4) organizations must omplete all olumns. All other organizations must omplete olumn (A). Chek if Shedule O ontains a response to any question in this Part I Do not inlude amounts reported on lines 6, (A) (B) (C) (D) Total expenses Program servie Management and Fundraising 7, 8, 9, and 10 of Part VIII. expenses general expenses expenses 1 Grants and other assistane to governments and organizations in the United States. See Part IV, line 21 5,080,224. 5,080, a d e f g a d Grants and other assistane to individuals in the United States. See Part IV, line 22 ~~~ Grants and other assistane to governments, organizations, and individuals outside the United States. See Part IV, lines 15 and 16 ~ Benefits paid to or for memers ~~~~~~~ Compensation of urrent offiers, diretors, trustees, and key employees ~~~~~~~~ Compensation not inluded aove, to disqualified persons (as defined under setion 4958(f)(1)) and persons desried in setion 4958()()(B) ~~~ Other salaries and wages ~~~~~~~~~~ Pension plan aruals and ontriutions (inlude setion 401(k) and 40() employer ontriutions) Other employee enefits ~~~~~~~~~~ taxes ~~~~~~~~~~~~~~~~ Fees for servies (non-employees): Management ~~~~~~~~~~~~~~~~ Legal ~~~~~~~~~~~~~~~~~~~~ Aounting ~~~~~~~~~~~~~~~~~ Loying ~~~~~~~~~~~~~~~~~~ Professional fundraising servies. See Part IV, line 17 Investment management fees ~~~~~~~~ Other. (If line 11g amount exeeds 10% of line 25, olumn (A) amount, list line 11g expenses on Sh O.) Advertising and promotion ~~~~~~~~~ Offie expenses~~~~~~~~~~~~~~~ Information tehnology ~~~~~~~~~~~ Royalties ~~~~~~~~~~~~~~~~~~ Oupany ~~~~~~~~~~~~~~~~~ Travel ~~~~~~~~~~~~~~~~~~~ Payments of travel or entertainment expenses for any federal, state, or loal puli offiials Conferenes, onventions, and meetings ~~ Interest ~~~~~~~~~~~~~~~~~~ Payments to affiliates ~~~~~~~~~~~~ Depreiation, depletion, and amortization ~~ Insurane ~~~~~~~~~~~~~~~~~ Other expenses. Itemize expenses not overed aove. (List misellaneous expenses in line 24e. If line 24e amount exeeds 10% of line 25, olumn (A) e All other expenses 25 Total funtional expenses. Add lines 1 through 24e 26 Joint osts. Complete this line only if the organization reported in olumn (B) joint osts from a omined eduational ampaign and fundraising soliitation. Chek here if following SOP 98-2 (ASC ) 29,240,95. 29,240,95. Page 10 1,789, ,968. 1,29, , ,875, ,672,885. 4,709, ,188. 1,02, , ,212. 0,014.,278,570. 2,579, ,9. 79,719. 2,072,978. 1,574, , , ,58., , ,527., ,000. 6,602,901. 1,418,040. 5,165, , , ,68. 47,686. 2,92,582. 2,047,04. 85,70. 49,86. 1,411, , ,04. 2,457,071. 2,120. 2,124,951. 1,172,07. 1,096, ,64. 14, , , ,092. 6,15. 2,611,785. 2,611,785. 5,268, ,0. 5,242, ,49., ,768. amount, list line 24e expenses on Shedule O.) ~~ REPAIRS AND MAINTENANCE 725,6. 66, ,466. HONORARIA 6, ,1. 22, R.A. HOUSING 6,000. 6,000. SPECIAL EVENTS 62, ,29. 98, , , , ,177, ,074,74. 26,092,448. 1,009, Form 990 (2012) THE UNIVERSITY OF THE ARTS

12 Form 990 (2012) THE UNIVERSITY OF THE ARTS Page 11 Part Balane Sheet Net Assets or Fund Balanes Liailities Assets Chek if Shedule O ontains a response to any question in this Part (A) (B) Beginning of year End of year 1 Cash - non-interest-earing ~~~~~~~~~~~~~~~~~~~~~~~~~ 90, , Savings and temporary ash investments ~~~~~~~~~~~~~~~~~~ 12,592, ,129,45. Pledges and grants reeivale, net ~~~~~~~~~~~~~~~~~~~~~ 1,19,444. 1,254, Aounts reeivale, net ~~~~~~~~~~~~~~~~~~~~~~~~~~ 797, ,04. 5 Loans and other reeivales from urrent and former offiers, diretors, trustees, key employees, and highest ompensated employees. Complete Part II of Shedule L ~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 5 6 Loans and other reeivales from other disqualified persons (as defined under setion 4958(f)(1)), persons desried in setion 4958()()(B), and ontriuting employers and sponsoring organizations of setion 501()(9) voluntary 7 employees enefiiary organizations (see instr). Complete Part II of Sh L ~~ Notes and loans reeivale, net ~~~~~~~~~~~~~~~~~~~~~~~ Inventories for sale or use ~~~~~~~~~~~~~~~~~~~~~~~~~~ 8 9 Prepaid expenses and deferred harges ~~~~~~~~~~~~~~~~~~ 1,42, ,275, a Land, uildings, and equipment: ost or other asis. Complete Part VI of Shedule D ~~~ 10a 168,017,568. Less: aumulated depreiation ~~~~~~ 10 85,227, ,56, ,790, Investments - pulily traded seurities ~~~~~~~~~~~~~~~~~~~ 29,947, ,450, Investments - other seurities. See Part IV, line 11 ~~~~~~~~~~~~~~ 1,051, ,740, Investments - program-related. See Part IV, line 11 ~~~~~~~~~~~~~ 1,74, ,726, Intangile assets ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Other assets. See Part IV, line 11 ~~~~~~~~~~~~~~~~~~~~~~ 1,224, ,161, Total assets. Add lines 1 through 15 (must equal line 4) 148,422, ,525, Aounts payale and arued expenses ~~~~~~~~~~~~~~~~~~ 5,467, ,72, Grants payale ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Deferred revenue ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 12,16, ,856, Tax-exempt ond liailities ~~~~~~~~~~~~~~~~~~~~~~~~~ 40,800, ,750, Esrow or ustodial aount liaility. Complete Part IV of Shedule D ~~~~ Loans and other payales to urrent and former offiers, diretors, trustees, key employees, highest ompensated employees, and disqualified persons. Complete Part II of Shedule L ~~~~~~~~~~~~~~~~~~~~~~~ 22 2 Seured mortgages and notes payale to unrelated third parties ~~~~~~ 11,262, ,659, Unseured notes and loans payale to unrelated third parties ~~~~~~~~ Other liailities (inluding federal inome tax, payales to related third 24 parties, and other liailities not inluded on lines 17-24). Complete Part of Shedule D ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 8,249, ,595, Total liailities. Add lines 17 through 25 77,914, ,584,482. Organizations that follow SFAS 117 (ASC 958), hek here and omplete lines 27 through 29, and lines and Unrestrited net assets ~~~~~~~~~~~~~~~~~~~~~~~~~~~ 22,86, ,28, Temporarily restrited net assets ~~~~~~~~~~~~~~~~~~~~~~ 9,262, ,606, Permanently restrited net assets ~~~~~~~~~~~~~~~~~~~~~ 8,857, ,097,047. Organizations that do not follow SFAS 117 (ASC 958), hek here and omplete lines 0 through Capital stok or trust prinipal, or urrent funds ~~~~~~~~~~~~~~~ Paid-in or apital surplus, or land, uilding, or equipment fund ~~~~~~~~ Retained earnings, endowment, aumulated inome, or other funds ~~~~ 2 Total net assets or fund alanes ~~~~~~~~~~~~~~~~~~~~~~ 70,507,5. 74,941, Total liailities and net assets/fund alanes 148,422, ,525,946. Form 990 (2012) THE UNIVERSITY OF THE ARTS

13 Form 990 (2012) THE UNIVERSITY OF THE ARTS Page 12 Part I Reoniliation of Net Assets Chek if Shedule O ontains a response to any question in this Part I Net assets or fund alanes at end of year. Comine lines through 9 (must equal Part, line, olumn (B)) 10 74,941,464. Part II Finanial Statements and Reporting Chek if Shedule O ontains a response to any question in this Part II Yes No 1 Aounting method used to prepare the Form 990: Cash Arual Other 2a Total revenue (must equal Part VIII, olumn (A), line 12) Total expenses (must equal Part I, olumn (A), line 25) ~~~~~~~~~~~~~~~~~~~~~~~~~~ Revenue less expenses. Sutrat line 2 from line 1 ~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Net assets or fund alanes at eginning of year (must equal Part, line, olumn (A)) ~~~~~~~~~~ Net unrealized gains (losses) on investments Donated servies and use of failities Investment expenses Prior period adjustments ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Other hanges in net assets or fund alanes (explain in Shedule O) ~~~~~~~~~~~~~~~~~~~ If the organization hanged its method of aounting from a prior year or heked "Other," explain in Shedule O. Were the organization s finanial statements ompiled or reviewed y an independent aountant? ~~~~~~~~~~~~ If "Yes," hek a ox elow to indiate whether the finanial statements for the year were ompiled or reviewed on a separate asis, onsolidated asis, or oth: Separate asis Consolidated asis Both onsolidated and separate asis Were the organization s finanial statements audited y an independent aountant? ~~~~~~~~~~~~~~~~~~~ If "Yes," hek a ox elow to indiate whether the finanial statements for the year were audited on a separate asis, onsolidated asis, or oth: Separate asis Consolidated asis Both onsolidated and separate asis If "Yes" to line 2a or 2, does the organization have a ommittee that assumes responsiility for oversight of the audit, review, or ompilation of its finanial statements and seletion of an independent aountant?~~~~~~~~~~~~~~~ If the organization hanged either its oversight proess or seletion proess during the tax year, explain in Shedule O. a As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit At and OMB Cirular A-1? ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ If "Yes," did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Shedule O and desrie any steps taken to undergo suh audits ,70, ,177,084. 1,19, ,507,5.,240,927. 2a 2 2 a 0. Form 990 (2012) THE UNIVERSITY OF THE ARTS