Civic Intelligence

Studio Arts College International Inc

EIN 42-1073614 • 501(c)3 • Florence, Tuscany, IT

View Organization Page

Profile

See schedule o for the full mission statement of studio arts college international, inc. ("saci")

Via Sant Antonino 11Florence, Tuscany 50123It

www.saci-florence.edu

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

95th percentile

1.18x

Higher debt load relative to assets than 95% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2024

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on the latest valid filing.

Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

21st percentile

-6.5%

Faster asset growth than 21% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

1st percentile

-100%

Faster revenue growth than 1% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$4,916,799

Down $343,401 (-6.5%) from 2023

Liabilities

Down

$5,794,709

Down $146,195 (-2.5%) from 2023

Net Assets

Down

-$877,910

Down $197,206 (-29%) from 2023

Operations
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

Down

$0

Down $161,404 (-100%) from 2023

Expenses

Down

$476,403

Down $163,867 (-26%) from 2023

Net Income

Up

-$476,403

Up $2,463 (+0.5%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth21st percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0-$5.0MAssets 2010: $12,471,325Liabilities 2010: $8,418,481Net Assets 2010: $4,052,8442010Assets 2011: $12,969,196Liabilities 2011: $9,036,339Net Assets 2011: $3,932,8572011Assets 2012: $10,875,876Liabilities 2012: $7,820,891Net Assets 2012: $3,054,9852012Assets 2013: $10,548,728Liabilities 2013: $7,490,496Net Assets 2013: $3,058,2322013Assets 2014: $10,190,890Liabilities 2014: $7,297,584Net Assets 2014: $2,893,3062014Assets 2015: $9,550,699Liabilities 2015: $6,469,841Net Assets 2015: $3,080,8582015Assets 2016: $9,421,044Liabilities 2016: $5,842,671Net Assets 2016: $3,578,3732016Assets 2018: $9,665,431Liabilities 2018: $6,007,091Net Assets 2018: $3,658,3402018Assets 2019: $9,631,232Liabilities 2019: $6,333,820Net Assets 2019: $3,297,4122019Assets 2020: $9,468,308Liabilities 2020: $6,062,200Net Assets 2020: $3,406,1082020Assets 2021: $6,621,332Liabilities 2021: $4,956,304Net Assets 2021: $1,665,0282021Assets 2022: $5,068,090Liabilities 2022: $5,238,935Net Assets 2022: -$170,8452022Assets 2023: $5,260,200Liabilities 2023: $5,940,904Net Assets 2023: -$680,7042023Assets 2024: $4,916,799Liabilities 2024: $5,794,709Net Assets 2024: -$877,9102024

Highlighted filing

2024

Assets$4,916,799
Liabilities$5,794,709
Net Assets-$877,910
Open 2024 Filing

Operations Trend

Revenue Growth1st percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $6,146,8092010Expenses 2011: $5,679,2262011Revenue 2012: $5,480,823Expenses 2012: $5,810,773Net Income 2012: -$329,9502012Expenses 2013: $4,970,7992013Revenue 2014: $5,038,028Expenses 2014: $5,229,517Net Income 2014: -$191,4892014Revenue 2015: $5,811,391Expenses 2015: $4,971,988Net Income 2015: $839,4032015Revenue 2016: $5,796,122Expenses 2016: $5,295,175Net Income 2016: $500,9472016Revenue 2018: $5,237,891Expenses 2018: $5,665,359Net Income 2018: -$427,4682018Revenue 2019: $6,185,351Expenses 2019: $5,954,279Net Income 2019: $231,0722019Revenue 2020: $5,493,654Expenses 2020: $5,333,136Net Income 2020: $160,5182020Revenue 2021: $529,411Expenses 2021: $2,305,553Net Income 2021: -$1,776,1422021Revenue 2022: $52,931Expenses 2022: $1,858,924Net Income 2022: -$1,805,9932022Revenue 2023: $161,404Expenses 2023: $640,270Net Income 2023: -$478,8662023Revenue 2024: $0Expenses 2024: $476,403Net Income 2024: -$476,4032024

Highlighted filing

2024

Revenue$0
Expenses$476,403
Net Income-$476,403
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,916,799
Liabilities
$5,794,709
Net assets
-$877,910
Revenue
$0
Expenses
$476,403
Net income
-$476,403
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.92$5.79$0.88$0.00$0.48$0.48
2023Detailed filing. Detailed filing data is available for this year.$5.26$5.94$0.68$0.16$0.64$0.48
2022Detailed filing. Detailed filing data is available for this year.$5.07$5.24$0.17$0.05$1.86$1.81
2021Detailed filing. Detailed filing data is available for this year.$6.62$4.96$1.67$0.53$2.31$1.78
2020Detailed filing. Detailed filing data is available for this year.$9.47$6.06$3.41$5.49$5.33$0.16
2019Detailed filing. Detailed filing data is available for this year.$9.63$6.33$3.30$6.19$5.95$0.23
2018Detailed filing. Detailed filing data is available for this year.$9.67$6.01$3.66$5.24$5.67$0.43
2016Summary only. Only limited summary data is available for this year.$9.42$5.84$3.58$5.80$5.30$0.50
2015Detailed filing. Detailed filing data is available for this year.$9.55$6.47$3.08$5.81$4.97$0.84
2014Detailed filing. Detailed filing data is available for this year.$10.2$7.30$2.89$5.04$5.23$0.19
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.5$7.49$3.06$4.97
2012Summary only. Only limited summary data is available for this year.$10.9$7.82$3.05$5.48$5.81$0.33
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.0$9.04$3.93$5.68
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.5$8.42$4.05$6.15
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Sep 1, 2023 to Aug 31, 2024
Signed
Jul 15, 2025
Return Version
2023v6.0
Gross Receipts
$0
Mission and Program Overview

Mission

See schedule o for the full mission statement of studio arts college international, inc. ("saci")

TO PROVIDE undergraduate and graduate students with a challenging, life-enhancing experience in the center of Florence, Italy in traditional and contemporary studio arts.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,708,738$4,432,570▼ $276,168
Prepaid Expenses and Deferred Charges$479,070$461,910▼ $17,160
Cash and Non-Interest-Bearing Accounts$23,639$697▼ $22,942
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$5,260,200$4,916,799▼ $343,401
Other Assets Total$48,753$21,622▼ $27,131
Liabilities
Other Liabilities$2,712,166$2,765,275▲ $53,109
Mortgage Notes Payable Secured by Investment Property$2,603,102$2,397,255▼ $205,847
Deferred Revenue$545,133$556,303▲ $11,170
Accounts Payable and Accrued Expenses$80,503$75,876▼ $4,627
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$5,940,904$5,794,709▼ $146,195
Net Assets / Fund Balance
Net Assets With Donor Restrictions$8,449$8,449→ $0
Net Assets Without Donor Restrictions$-689,153$-886,359▼ $197,206
Total Net Assets Fund Balance$-680,704$-877,910▼ $197,206
Total Liabilities and Net Assets / Fund Balance$5,260,200$4,916,799▼ $343,401

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,322,973$8,273,224$12,596,197
Other Land Buildings$107,479$815,383$922,862
Equipment$2,118$294,473$296,591
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

NameTitle
Brett RidgeChair
Federica Codignolaboard member
Marco D'OstuniBoard Member
Nicholas CattelainBoard Member
Mark HavlicekTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-476,403
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$452,400
Salaries, Compensation, and Employee Benefits$24,003
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion-$365,511-$365,511
Interest-$64,001-$64,001
Other Employee Benefits-$24,003-$24,003
Fees for Services Accounting-$7,450-$7,450
Advertising-$6,045-$6,045
Occupancy-$3,841-$3,841
Office Expenses-$2,023-$2,023
Other Expenses-$1,187-$1,187
Fees for Services Legal-$925-$925
Fees for Services Other-$332-$332
Total Functional Expenses$0$476,403$0$476,403
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Line of Credit$2,765,275
Taxes Payable$0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, page 6, part VI, section B, line 11B

“The form 990 was provided in draft form to the board for their approval prior to submission.”

Form 990, page 6, Part VI, Section C, line 12C

“The School has a conflict of interest policy for the board of trustees.”

Filing and Contact Details

Filer

Filer Name
Studio Arts College International Inc
EIN
42-1073614
In Care Of
% CATERINA ERMIRALDO
Phone
2122487225
Address
IT

Signing Officer

Name
Brett Ridge
Title
Chair
Phone
3905528994
Signed
2025-07-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brett Ridge
Formed
1975
Legal Domicile
De
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
WithumSmithBrown PC
Address
ONE TOWER CENTER BLVD 14TH FL, EAST BRUNSWICK, NJ 08816
Preparer
Catherine Bendall
Phone
7328281614
Supplemental Narrative

Additional Explanations

Form 990, page 2, part III, line 1

“SACI'S MISSION was TO PROVIDE UNDERGRADUATE AND GRADUATE STUDENTS WITH A CHALLENGING, LIFE-ENHANCING EXPERIENCE IN THE CENTER OF FLORENCE IN TRADITIONAL AND CONTEMPORARY STUDIO ARTS, DESIGN, CONSERVATION, AND ART HISTORY. STUDENTS DIRECTLY ACCESS CENTURIES OF ITALIAN CULTURE THROUGH A WIDE RANGE OF COURSES OF ACADEMIC EXCELLENCE. SACI ENGAGES IN LEADING AREAS OF RESEARCH AND EXPLORATION, INTERACTS WITH THE COMMUNITY THROUGH ARTISTIC AND SOCIAL PROGRAMS, AND PREPARES STUDENTS TO EXCEL IN THEIR cHOSEN FIELD. Since the closing of the program, SACI has partnered with Accent Global for students that look to study art or design in Florence.”

Form 990, Page 2, part III, Line 3

“SACI has partnered with Accent Global to continue to provide studio classes at the SACI campus in Florence.”

Form 990, page 12, part XI, Line 9

“The Organization has operations in Italy and as a result there are assets and liabilities that must be translated from Euro to US dollar for financial statement purposes resulting in a translation gain or loss that is recognized each year. There was a translation gain of $279,197 recorded at August 31, 2024 that is shown as an other change in net assets.”

Raw XML AppendixShowing 400 of 418 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
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IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0the school website at www.saci-florence.edu includes the nondiscrimination policy as does all printed materials that are distibuted.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Nondiscrimination Policy
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SACI'S MISSION was TO PROVIDE UNDERGRADUATE AND GRADUATE STUDENTS WITH A CHALLENGING, LIFE-ENHANCING EXPERIENCE IN THE CENTER OF FLORENCE IN TRADITIONAL AND CONTEMPORARY STUDIO ARTS, DESIGN, CONSERVATION, AND ART HISTORY. STUDENTS DIRECTLY ACCESS CENTURIES OF ITALIAN CULTURE THROUGH A WIDE RANGE OF COURSES OF ACADEMIC EXCELLENCE. SACI ENGAGES IN LEADING AREAS OF RESEARCH AND EXPLORATION, INTERACTS WITH THE COMMUNITY THROUGH ARTISTIC AND SOCIAL PROGRAMS, AND PREPARES STUDENTS TO EXCEL IN THEIR cHOSEN FIELD. Since the closing of the program, SACI has partnered with Accent Global for students that look to study art or design in Florence.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1SACI has partnered with Accent Global to continue to provide studio classes at the SACI campus in Florence.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The form 990 was provided in draft form to the board for their approval prior to submission.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The School has a conflict of interest policy for the board of trustees.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Organization has operations in Italy and as a result there are assets and liabilities that must be translated from Euro to US dollar for financial statement purposes resulting in a translation gain or loss that is recognized each year. There was a translation gain of $279,197 recorded at August 31, 2024 that is shown as an other change in net assets.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, page 2, part III, line 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Page 2, part III, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, page 6, part VI, section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, page 6, Part VI, Section C, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, page 12, part XI, Line 9
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IRS990/WebsiteAddressTxt0WWW.SACI-FLORENCE.edu
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Brett Ridge
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chair
ReturnHeader/BusinessOfficerGrp/PhoneNum03905528994
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-07-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0STUDIO ARTS COLLEGE INTERNATIONAL INC
ReturnHeader/Filer/BusinessNameControlTxt0STUD
ReturnHeader/Filer/EIN0421073614
ReturnHeader/Filer/ForeignAddress/AddressLine1Txt0Via Sant Antonino 11
ReturnHeader/Filer/ForeignAddress/CityNm0Florence
ReturnHeader/Filer/ForeignAddress/CountryCd0IT

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