What happens to gifts and pledges, restricted and endowed funds, tax documentation, and how to support CCA's legacy.

Our immediate priority is to ensure that every current CCA student either completes their degree or is successfully supported through our teach-out process.

Here is how we are managing these critical funds in both the short and long term:

• In the short term: Your gifts and existing scholarship funds are actively being used right now to support CCA students through tuition assistance and support services through the 2026–2027 academic year.
• In the long term: Because CCA will conclude its independent academic operations at the end of the 2026–2027 academic year, our intent is that CCA will contribute CCA’s endowed funds to Vanderbilt University after the college closes.

We are currently managing these assets through the following steps:

• Comprehensive review: We are working closely with Vanderbilt leadership to conduct a thorough review of all existing endowments and restricted gift agreements to establish the proper legal pathways to transfer, transition stewardship, or appropriately repurpose these funds so they stay as close to their original purpose as possible.
• Named and specific scholarships: Named scholarships will maintain their name upon transfer to Vanderbilt.

CCA is deeply committed to protecting the legacy of philanthropy that has supported our students, faculty, and staff, and ensuring the intent of every gift is legally and faithfully honored. Under the agreement, Vanderbilt will establish the California College of the Arts Institute at Vanderbilt, which will house the CCA archives, the Wattis Institute, and the alumni engagement hub.

Please know that our partnership with Vanderbilt was chosen specifically because of their deep commitment to honoring CCA’s longstanding creative mission and maintaining a strong local presence for art and design education right here on this campus.

When you generously derestricted your endowment, you provided CCA with the flexibility to utilize your gift toward the greatest immediate needs. During CCA’s final year of operation, we will prioritize using your gift toward its original purpose and then utilize the remainder to support academic and operational needs. This means that at the conclusion of academic year 2026-27, we will have expended all the gift funds from the derestricted endowment.

As a 501(c)(3) nonprofit, contributions to CCA are legally irrevocable, which is why donors qualify for a tax deduction. Once a gift is made, it becomes an asset permanently dedicated to the college's educational mission, unless the gift agreement expressly reserves some rights for the donor.

Therefore, CCA cannot refund these contributions, and CCA must abide by the restrictions on endowed funds unless the donor agrees to modify or remove the restriction. We believe the best use of these funds is to fulfill the college’s mission until its final day of operation, after which Vanderbilt will be legally bound to abide by the same restrictions.

We understand that the transition to Vanderbilt may change how you view your future philanthropic goals.

• Pledges and future support: If you have an active multi-year pledge, our Advancement team will work with you individually to discuss whether you would like to: redirect those remaining funds to support our current students through the 2026–2027 wind-down; or transfer the intent to Vanderbilt San Francisco or the CCA Institute at Vanderbilt
• Bequests and planned giving: We recommend consulting with your estate attorney about your options. If you wish to redirect that future legacy gift to Vanderbilt San Francisco or the CCA Institute at Vanderbilt, please contact [email protected] and we will assist you.