FINANCIAL REPORTING

RHODE ISLAND SCHOOL OF DESIGN

Degree Program Tuition and Fees

Tuition & Room &
Fees % Chg. Board % Chg. Total
1997/98* $19,670 5.6% $6,390 -3.4% $26,060
1998/99 $20,545 4.4% $6,490 1.6% $27,035
1999/00 $21,405 4.2% $6,490 0.0% $27,895
2000/01 $22,305 4.2% $6,660 2.6% $28,965
2001/02 $23,397 4.9% $6,830 2.6% $30,227
2002/03 $24,765 5.8% $7,038 3.0% $31,803
2003/04 $26,199 5.8% $7,370 4.7% $33,569
2004/05 $27,975 6.8% $7,728 4.9% $35,703
2005/06 $29,775 6.4% $8,355 8.1% $38,130
2006/07 $31,430 5.6% $9,360 12.0% $40,790
2007/08 $33,118 5.4% $9,860 5.3% $42,978

*Fees include Student Activities fee and Technology/Internet Access fee (introduced in 1997/98).

Source: Finance

Fact Book 2008 page 120

RHODE ISLAND SCHOOL OF DESIGN

Institutional Operating Summary

Revenues Expenses Margin %Margin
1997/98 $57,259,935 $57,094,157 $165,778 0.3%
1998/99 $62,038,068 $60,981,897 $1,056,171 1.7%
1999/00 $65,798,416 $65,495,220 $303,196 0.5%
2000/01 $69,329,281 $69,186,386 $142,895 0.2%
2001/02 $74,493,700 $73,922,384 $571,316 0.8%
2002/03 $81,311,011 $80,740,099 $570,912 0.7%
2003/04 $86,219,242 $86,155,083 $64,159 0.1%
2004/05 $89,282,526 $88,579,872 $702,654 0.8%
2005/06 $98,712,054 $98,673,183 $38,871 0.04%
2006/07 $106,707,680 $105,951,262 $756,418 0.7%
2007/08 (Budget) $114,550,641 $114,524,388 $26,253 0.0%

$114,550,641 $114,524,388

$120,000,000
$81,311,011 $80,740,099
$100,000,000

$80,000,000 $57,259,935 $57,094,157

Revenues
$60,000,000 Expenses

$40,000,000

$20,000,000

Source: Finance $0
1997/98 2002/03 2007/08 (Budget)

Fact Book 2008 page 121

RHODE ISLAND SCHOOL OF DESIGN

Institutional Operating Expenses

Budget
2001/02 2002/03 2003/04 2004/05 2005/06 2006/07 2007/08
Total (In Millions) $73.9 $80.7 $86.2 $88.6 $98.7 $105.9 $114.5
Expenses
Instruction $25.55 $28.25 $30.40 $31.89 $33.56 $33.65 $36.30
Academic Support $4.47 $4.84 $5.31 $5.31 $5.92 $5.70 $5.90
Student Services $2.64 $2.42 $2.91 $2.66 $2.96 $3.11 $3.50
Student Aid $6.72 $7.26 $8.06 $8.86 $8.88 $9.12 $12.00
Plant Maintenance $4.95 $5.65 $6.04 $6.20 $7.90 $8.70 $8.70
Inst.Support $9.53 $10.49 $11.54 $11.52 $14.81 $14.49 $13.70
Museum $3.30 $4.04 $3.66 $4.43 $3.95 $4.57 $5.40
Campus Services $8.19 $8.88 $8.62 $8.86 $9.87 $11.36 $12.70
Debt Service $2.96 $3.23 $3.56 $2.66 $3.95 $7.90 $8.90
Facilities Use Fee $5.60 $5.65 $6.06 $6.20 $6.91 $7.27 $7.40
Total $73.91 $80.71 $86.16 $88.59 $98.71 $105.87 $114.50

*includes restricted and unrestricted student aid

Source: Finance

Fact Book 2008 page 122

RHODE ISLAND SCHOOL OF DESIGN

Rhode Island School of Design 2006-2007 Actual Expenses

Facilities Use
Fee $7M
Debt Service Instruction
$8M $34M

Campus
Services
$11M

Museum
$5M

Academic
Support
Inst. Support $6M
$14M
Student
Services
$3M
Plant Student Aid
Maintenance $9M
$9M
Notes: Figures are rounded to approximate to 100%.

Source: Finance

Fact Book 2008 page 123

RHODE ISLAND SCHOOL OF DESIGN

Institutional Operating Revenue

Budget
2001/02 2002/03 2003/04 2004/05 2005/06 2006/07 2007/08
Total (In Millions) $74.5 $81.3 $86.2 $89.3 $98.7 $106.7 $114.6
Sources Of Revenue
Degree Tuition $49.40 $54.40 $59.50 $63.50 $66.90 $71.01 $73.80
Other Programs $4.13 $4.80 $4.78 $4.57 $4.80 $5.45 $5.30
Gifts & Grants $0.96 $0.80 $0.86 $0.94 $0.96 $1.34 $3.09
Unrestricted Endowment $7.30 $8.10 $7.49 $7.22 $7.99 $8.85 $10.52
Other $0.26 $0.10 $1.01 $0.37 $0.95 $0.75 $0.48
Museum* $1.13 $1.10 $1.03 $1.14 $1.20 $1.26 $2.16
Campus Services $11.30 $12.00 $11.57 $11.54 $15.91 $18.04 $19.20
Total $74.48 $81.30 $86.24 $89.28 $98.71 $106.70 $114.55

Degree Tuition as a percent

of total revenue 66.3% 66.9% 69.0% 71.1% 67.8% 66.6% 64.4%

*includes restricted and unrestricted gifts and grants.

Source: Finance

Fact Book 2008 page 124

RHODE ISLAND SCHOOL OF DESIGN

Rhode Island School of Design 2006-2007 Actual Revenue

Campus
Services
$18M

Degree
Museum* $1M Tuition
$71M
Other $1M

Unrestricted
Endowment
$9M
Gifts &
Grants
$1M

Other
Programs
$5M

Source: Finance

Fact Book 2008 page 125

RHODE ISLAND SCHOOL OF DESIGN

Rhode Island School of Design 2006-2007 Museum Finances

Sources of Revenue The museum receives revenue from various sources such as fundraising and memberships, visitor admissions, public workshops, facility rentals, museum shop
sales, and fees from rights, reproductions and loans. The museum also receives gifts and grants from individuals, corporations, foundations and governmental agencies that are restricted
for specific purposes, typically education programs, exhibitions or capital improvements. In addition, the museum has endowed funds that are also restricted as to purpose, such as family
programs or student internships. Restricted endowment funds also provide the funds used to purchase new work for the museum's collections.
Another source of revenue is derived from the museum share of RISD's unrestricted endowment. In 1998, a review of gifts that established RISD's unrestricted endowment fund deter-
mined that approximately 34.5% of the endowment was, at the time of the review, attributable to museum donors, and that the revenue associated with those gifts was fairly presented as
being intended for general operating support of the museum. The proportion of endowment revenue attributable to museum gifts is adjusted annually as additional funds are added to
RISD's Unrestricted Endowment Fund. The museum also receives an annual allocation of RISD's capital budget in order to help meet its ongoing facility maintenance needs.
The final piece of revenue (college operating support) is provided by the college, and comes predominantly, but not entirely, from tuition.
Uses of Funds The majority of the museum expenses, just like most RISD departments, are for salaries and benefits. Other expenses include supplies and business services, publications
and educational materials, professional development, building maintenance, and all other expenses necessary to create and provide the Museum's educational programs (both on-site and
off-site) and exhibitions, and to care for and preserve work in the collection.
A variety of opportunities exist for students to participate in Museum projects and ongoing programs, through student employment, paid internships, or volunteer activities. The museum
relies extensively on volunteer contributions from members and other supporters. The museum's tour program, for example, is widely used by schools in the three-state region, and relies
on the services of volunteer docents to conduct those tours.
Additions to the museum's collections are acquired through the use of donor gifts and endowment funds that are specifically restricted for that purpose, and by outright donation of
works of art from collectors and benefactors.
Sources of Revenue Uses of Revenue
Membership
Endowed and Annual Fund
(Applied) Acquisitions
11% 12%
16%
Earned Income 4%
Restricted
Museum Shop 2% Excpenses
Gifts and
Grants 10%
(Applied)
11%
Capital
Improvement
College Operating 2%
Support (budgeted) Museum
8% Unrestricted Operating
Endowment Expenses
Capital Budget 3% 45% 76%

Note: All funds are included in chart

Excess Revenue over Expenses
Source: Finance, Museum $114,485

Fact Book 2008 page 126

RHODE ISLAND SCHOOL OF DESIGN

Rhode Island School of Design Capital Spending 2006-2007

Housing
7% Institutional
10%

Museum
4%
Facilities
38%

Academic
Affairs
20%

OIT 11%

Contingency
10%
Source: Finance

Fact Book 2008 page 127

 RHODE ISLAND SCHOOL OF DESIGN

Rhode Island School of Design Market Value of Endowment

Market Value of
Endowment Percent Increase
1999/00 $224,320,923 16.67%
2000/01 $213,145,432 -4.98%
2001/02 $205,717,730 -3.48%
2002/03 $206,222,080 0.25%
2003/04 $242,542,630 17.61%
2004/05 $262,104,319 8.07%
2005/06 $293,293,069 11.90%
2006/07 $367,269,757 25.22%

Percent Increase
Market Value of Endowment 30.00%
$400,000,000
25.00%
$350,000,000

$300,000,000 20.00%

$250,000,000 15.00%

$200,000,000 10.00%

$150,000,000 5.00%

$100,000,000 0.00%

$50,000,000 -5.00%

$0 -10.00%
1999/00 2000/01 2001/02 2002/03 2003/04 2004/05 2005/06 2006/07 1999/00 2000/01 2001/02 2002/03 2003/04 2004/05 2005/06 2006/07

Source: Finance

Fact Book 2008 page 128