Pratt Institute

“Mike pratt, david o. Pratt, and anne h. Van ingen have a family relationship.”

“Review of 990: the return is prepared by an independent firm based on information provided by the organization and in consultation with the organization's staff. The draft prepared by the accounting firm is then submitted to the controller, vp of finance, the finance and audit committee for their review, and then to the full board of directors before filing the completed form 990 with the irs.”

“Conflict of interest policy: the organization has a written conflict of interest policy covering all trustees, officers, and employees that provides that no individual may participate in discussion or decision on any matter in which he or she has a material financial interest. All trustees, officers and individuals who have purchasing authority are required to certify compliance with the conflict of interest policy on an annual basis. Form 990, part vi, section b, line 14 written document retention and destruction policy: pratt institute requires that institute records, regardless of format, be disposed of or retained for specific periods of time in accordance with legal and/or other institutional requirements or for historical value. The retention and disposal of institutional records policy is available to all pratt employees on the institute's intranet and provides detailed guidance with respect to the retention periods of specific documents created and retained by offices throughout campus.”

“Process of determining compensation: compensation for the president, officers and key employees is determined by a process that includes the use of external comparability data, review and approval by the board and executive committee of the board of trustees, and contemporaneous recordkeeping of their deliberations and decisions. The president's compensation is reviewed and approved by the executive committee of the board of trustees. Based upon the review, president's compensation is then determined and approved by the board.”

“Disclosure: the organization's governing documents, conflict of interest policy and financial statements are available to the public upon request from the office of the vp of finance or the controller's office. In addition, the form 990 is available at guidestar.org.”

“Compensation timing: compensation reported on part vii and schedule j is based on the calendar year within the taxpayer's fiscal year. For this fiscal 2024 form 990, calendar year 2023 compensation is reported. Compensation for individual trustees the compensation reported on part vii-a and/or schedule j for individual trustees is not the compensation earned for services rendered in their capacity as a director/trustee. Instead, it is earned for services rendered in their capacity as either full-time faculties or based on student assistance services. Compensation for former: the compensation reported on part vii-a and/or schedule j for the former officer is not the compensation earned for services rendered in his capacity as officer. Instead, it is earned for services rendered in his capacity as a full-time faculty.”

“The mission of pratt institute is to educate artists and creative professionals to be responsible contributors to society. Pratt seeks to instill in all graduates aesthetic judgment, professional knowledge, collaborative skills, and technical expertise. With a firm grounding in the liberal arts and sciences, a pratt education blends theory with creative application in preparing graduates to become leaders in their professions. Pratt enrolls a diverse group of highly talented and dedicated students, challenging them to achieve their full potential.”

“Instruction: the center for continuing and professional studies provides high-quality credit and non-credit courses and programs to the non-traditional student in a variety of subjects for educational advancement, career change, and enrichment. The center also offers a precollege program which provides high school students with rigorous college level art, design and creative thinking courses, modeled after the institute's undergraduate offerings. The study abroad program provides students with the opportunity to study in more than a dozen locations including rome, florence, milan, copenhagen, london and tokyo. Pratt also offers two full-time english as a second language (esl) programs for international students that focus on the language of art, design and architecture. Official enrollment for the fall 24 semester was 2,532 (1,521 noncredit, 1,011 credit).”

“Academic support: endowed faculty development funds are competitively awarded on an annual basis to enhance the resources provided for pratt faculty. These grants both advance faculty research and strengthen the institute's curriculum overall. Faculty research enhances the quality of instruction and inspires new interdisciplinary work that will contribute a richer learning environment for students.”

“Other components of net periodic benefit cost other than service costs 13,001,842. Postretirement changes other than net periodic benefit cost -12,426,057.”