Pratt Institute

“Family relationship: mike pratt, david pratt and anne h. Van ingen”

“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.”

“Process of determining compensation: compensation for the president, officers and key employees are 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 committee.”

“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.”

“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.”

“Line 4a: instruction: ------------------------------------------------- pratt offers 22 undergraduate degree and 27 graduate degree programs in art & design, architecture, liberal arts & sciences (ug), information & library science (g) and center for continuing & professional studies. It offers more than 20 study abroad and international exchange programs in more than a dozen locations including rome, florence, milan, copenhagen, london and tokyo. In addition, pratt provides students with opportunities to enroll in five dual degree programs. It also offers five programs leading to an advanced certificate award: art & design education, archives programs, library & information specialist and museum libraries, minor programs in construction management, cultural studies and history of art & design. It also offers 2 full-time english as a second language (esl) programs for international students that focus on the language of art, design and architecture. Pratt institute's official enrollment for the fy2014-15 was 4,784 students. Undergraduate (3,393 students) - art: 1,311; design: 1,207; architecture: 705; liberal arts & sciences: 151 and associate degree programs: graduate (1,391 students) - art: 387; design: 400; architecture: 371; information & library science: 147; las: 86. Conferred degrees - bachelor's degree: 645; master's degree: 536; and associate degrees: 35. Total enrollment for fall 2015 (fte) was 4,338.”

“Line 4b: public service: ------------------------------------- pratt's department of art and design education offers a variety of programs for the community. It provides opportunities for artists and designers of all ages to recognize and develop their creative potential. Classes are held on pratt's campus where participants learn in a college environment. These programs prepare pratt students studying art & design education to work as teachers and artists while simultaneously bringing art and design classes to the community. Featured programs are design initiative for community empowerment (dice), pratt young scholars, saturday art school, and summer design. Highlighted by the center for an urban future as a catalyst for nyc's economic growth, pratt institute has pioneered a business incubator model for urban art and design schools, which enables students, recent alumni and aspiring start-ups to gain the necessary entrepreneural skills to succeed all within a community of like-minded individuals committed to sustainable living. By providing space, strategic mentorship and a network of experts in every aspect of business development and sustainable design, the brooklyn fashion and design accelerator and the pratt design incubator for sustainable innovation are transforming new york city's design economy. The bf+da is a new initiative launched by pratt institute that provides designers with the resources they need to transform their ideas into successful businesses. Located between bed-stuy and south williamsburg, the bf+da provides over 21,000 square feet of 21st century production and work space where nyc designers/makers grow their start-ups into viable businesses, integrating local manufacturing and an ethical supply chain into their bottom line. The bf+da research fellows explore production, materiality and wearable technology, connecting technology to a 21st century vision that seeks to redefine the fashion industry. The bf+da provides educational programs and hosts inspiring and provocative events. The bf+da coordinates sponsored industry projects and strategic partnerships that will ensure the success of our vision. The pratt design incubator for sustainable innovation was established in 2002, and provides an affordable, collaborative working environment where talented design entrepreneurs can transform their ideas into viable businesses. To date, the incubator has helped launch over 35 businesses that bring in over $20 million of sales revenue each year. Established in 2013, the spatial analysis and visualization initiative (savi) is a geographic information systems (gis)-centered initiative that provides pratt students, faculty and community-based organizations access to gis and visualization resources, including equipment, databases, technical assistance workshops, training sessions and researchers. As a joint endeavor of the programs for sustainable planning and development (pspd), the pratt center and the graduate communications design department, savi aims to promote a collaborative learning and research community at pratt where faculty and students can share projects, ideas, resources and tools. In keeping with pratt's commitment to benefit the greater community of which it is a part, savi also provides nyc based nonprofit, civic and community-based planning organizations (including community boards) with the latest mapping, data and spatial information technology, access to gis technical assistance, analysis and data display interns and the training and access to resources that allow independent gis work. These groups will be able to efficiently document existing conditions of urban areas, and to more meaningfully contribute to policy discussions and create their own visions for improving quality-of-life and sustainability. With the launch of pratt design incubator for sustainable innovation in 2002 and now open to the public, the incubator continues to provide space and ongoing strategic mentorship which result”

“Line 4c: academic support: ---------------------- center for sustainable design strategies (csds) serves as a physical and virtual hub for pratt's commitment to educate environmentally responsible citizens. Csds encourages the use of pratt's campus as a living laboratory aligning the classroom to campus initiatives. It houses a materials research center that supports faculty, students, and alumni in the integration of sustainability into their professional lives. Scholarships are vital to fostering the unique abilities of the more than 4,000 talented young men and women enrolled at pratt, the majority of whom would otherwise be unable to benefit from the world-class, cutting edge education that the institute offers. Currently, over 80% of pratt students receive some form of financial aid. Scholarships provide these students with meaningful support that enable them to pursue their education while reducing their financial burdens. This year, through the generosity of donors, pratt nearly doubled its endowed faculty development funds to provide increased resources for the competitively awarded annual grants that not only advance pratt faculty members' research and creative interests but also strengthen the institute's curriculum overall. With the support of these funds, pratt faculty can undertake research and projects to advance the curriculum and their fields, explore new directions in teaching, and inspire new interdisciplinary work that will contribute to the learning environment. Specific activities might include studio projects, publications, travel, research, and cross-disciplinary courses and studies by faculty teams.”

“LINE 4D: OTHER PROGRAM SERVICES: Student Services, Institutional Support, Operation & Maintenance of Plant, Auxiliary Enterprises -------------------------------------------------------------- STUDENT SERVICES: EXPENSES $17,274,746 INCLUDES EXPENSES INCURRED FOR STUDENTS' ACTIVITIES AND EVENTS BY THE FOLLOWING STUDENT SUPPORT SERVICES DEPARTMENTS: ADMISSIONS, REGISTRAR, BURSAR, FINANCIAL AID, ATHLETICS, INTERNATIONAL AFFAIRS, HEALTH & COUNSELING, CAREER SERVICES AND OTHER STUDENT SERVICES DEPARTMENTS. THE STUDENT AFFAIRS DIVISION PROVIDES PROGRAMS AND SERVICES THAT PROMOTE STUDENT PERSONAL AND PROFESSIONAL DEVELOPMENT; FOSTERS A CAMPUS ENVIRONMENT THAT IS CONDUCIVE TO STUDENT LEARNING AND ADVOCATES FOR AND SUPPORTS STUDENTS AS THEY MEET THE CHALLENGES OF THE PRATT EXPERIENCES. THE OFFICE OF INTERNATIONAL AFFAIRS PROVIDES SERVICES TO ABOUT 1,407 INTERNATIONAL STUDENTS FROM OVER 75 COUNTRIES AS WELL AS J1 EXCHANGE VISITORS, EXCHANGE STUDENTS, PROFESSORS AND SCHOLARS. THIS OFFICE IS RESPONSIBLE TO ENSURE PRATT'S COMPLIANCE WITH THE DEPARTMENT OF HOMELAND SECURITY AND DEPARTMENT OF STATE. INSTITUTIONAL SUPPORT: INCLUDES EXPENDITURES PRIMARILY INCURRED BY THE SECURITY OFFICE, STRATEGIC PLANNING, OFFICE OF INSTITUTIONAL RESEARCH INFORMATION TECHNOLOGY, ACADEMIC MARKETING, SUSTAINABILITY AND OTHER PROGRAM SERVICES RELATED GENERAL INSTITUTE EXPENSES. TREMENDOUS PROGRESS WITH THE IMPLEMENTATION OF THE APPROVED STRATEGIC PLAN FOR 2012-17 HAS BEEN ACHIEVED AND MOST GOALS WERE BEING IMPLEMENTED AS SCHEDULED. INSTITUTIONAL RESEARCH HAS SUBMITTED ALL FEDERALLY AND STATE REQUIRED ENROLLMENT & FINANCIAL SURVEYS, LAUNCHED THE ONLINE PRATT FACT BOOK IN MAY AND LAUNCHED THREE SURVEYS: EMPLOYEE SATISFACTION WITH PRATT RETIREMENT BENEFITS, STUDENT SATISFACTION WITH FINANCIAL AID AND BURSAR SERVICES AND FACULTY PREFERENCES FOR TRAINING NEEDS IN COMPUTER ASSISTED INSTRUCTION AT PRATT'S SUMMER TECHNOLOGY INSTITUTE PROVIDED BY THE EDUCATIONAL TECHNOLOGY DEPARTMENT. ON INFORMATION TECHNOLOGY, COMPLETED PHASE I & II OF THE FIBEROPTIC INFRASTRUCTURE REPLACEMENT PLAN PROJECT. PHASE 1: ALL CAMPUS TRENCHING AND INSTALLATION OF A TUBE CONDUIT SYSTEM AND PHASE II: BLOWING IN AND TERMINATING THE SECOND LEG OF FIBER TO EACH BUILDING LOCATION AND THE COMPLETION OF ALL INTERIOR CABLING. OPERATION AND MAINTENANCE OF PLANT: INCLUDES EXPENSES FOR THE MAINTENANCE AND UPKEEP OF BUILDINGS, MANAGEMENT AND SUPPORT OF THE OPERATIONS OF PHYSICAL PLANT FACILITIES, UTILITIES, CLEANING AND OTHER RELATED FUNCTIONS, CAPITAL RENOVATION PROJECTS, ETC. PRATT INSTITUTE ACHIEVED COMPLETION OF CAMPUS WIDE PROJECTS ADDRESSING VARIOUS INTERIOR RENOVATIONS AND RELOCATIONS REQUIRED TO ACCOMMODATE PROGRAMMATIC, SPACE AND UTILIZATION CHANGES ESSENTIAL TO SUPPORT THE INSTITUTE'S MISSION. ENGINEERING AND MACHINERY BUILDING PROJECTS INCLUDED CONVERSION OF VARIOUS OFFICES, SERVICE & WORKSHOP AREAS, CONVERSION OF THE ENGINEERING BUILDING FREIGHT TO PASSENGER ELEVATOR, UPGRADE OF THE FIRE ALARM SYSTEM CAMPUS WIDE. PRATT INSTITUTE ACHIEVED COMPLETION OF THE RECONSTRUCTION OF ALL FLOORS OF THE MAIN BUILDING DAMAGED BY FIRE AND FULL OCCUPANCY OF THESE FLOORS: EXTERIOR & INTERIOR MASONRY CLEANING & REPAIRS; REPLACEMENT OF TWO ROOF TANKS, NEW MECHANICAL/ELECTRICAL/PLUMBING (MEP) RISERS, FIRE ALARM, SECURITY INFRASTRUCTURE CABLING; INSTALLATION OF PERMANENT ELECTRICAL POWER AND ENERGY EFFICIENT LIGHTING AND NEW WOOD SUB & FINISH FLOORS ON BASEMENT AND ALL OTHER NECESSARY REPLACEMENTS. CONTinUED RENOVATION OF THE TOWNHOUSES ON EMERSON AND STEUBEN STREET. THIS PROJECT IS A MULTI-YEAR PROJECT TO RECONSTRUCT 27 TOWNHOUSES INTO CONTEMPORARY HOUSING (NEW KITCHENS, BATHROOMS, PLUMBING, ELECTRICAL INFRASTRUCTURE, FIRE PROTECTION SYSTEMS). EACH TOWNHOUSE ACCOMODATES SIX STUDENTS. CAPITAL PROJECTS CURRENTLY IN DESIGN/ FEASIBILITY PLANNING/CONTRACT DOCUMENTS INCLUDE: RENOVATIONS ON THE LOWER LEVEL OF THE ARC TO EXPAND GALLERY SPACE FOR PHOTO DEPT, ISC 1ST FLOOR FOR DISABILITY SERVICES, 2ND FLOOR FOR FRANKLIN FUR”

“Other changes in net assets postretirement related changes other than net periodic postretirement benefit cost 4,872,235 net depreciation in fair value of derivative instruments (580,629) loss on refunding of bonds (1,103,386) --------------- total 3,188,220 ===============”