Maine College Of Art
- Assets
- $47.9m
- Revenue
- $26.1m
- Investments
- $0.0
- Employees
- 359
- Location
- Portland, ME
- Founding
- 01/1982
- Data as of
- 06/2023
- EIN
- 01-0378758
Organization Overview
Maine College Of Art is located in Portland, ME. The organization was established in 1982. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2023, Maine College Of Art employed 359 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maine College Of Art is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Maine College Of Art generated $26.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $25.8m during the year ending 06/2023. While expenses have increased by 3.9% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE COLLEGE'S MISSION IS TO PROVIDE EDUCATION IN FINE ARTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION - PRIMARY MISSION. THE COLLEGE IS A PRIVATE INSTITUTION OFFERING BACHELOR AND MASTER OF FINE ARTS DEGREE PROGRAMS TO APPROXIMATELY 400 FULL-TIME STUDENTS CONCENTRATING IN THE FINE ARTS, A MASTER OF ART IN TEACHING PROGRAM, AS WELL AS A WIDE RANGE OF CONTINUING STUDIES CLASSES FOR INDIVIDUALS OF ALL AGES AND A PUBLICLY ACCESSIBLE GALLERY, THE INSTITUTE OF CONTEMPORARY ART.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathryn Yates Chair | OfficerTrustee | 2 | $0 |
Diane Gathwaite Vice Chair | OfficerTrustee | 2 | $0 |
Dan Bailin Director | Trustee | 2 | $0 |
Jordan Carey Director | Trustee | 2 | $0 |
Jennie Coyne Director | Trustee | 2 | $0 |
Deborah H Dluhy Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
First Protection Services Inc Security | 6/29/23 | $214,944 |
Gov Connection Hardware Software & Support | 6/29/23 | $191,743 |
Jenzabar Inc Software & Support | 6/29/23 | $164,581 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $36,700 |
| Related organizations | $0 |
| Government grants | $1,138,107 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,346,229 |
| Noncash contributions included in lines 1a–1f | $1,053,068 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,521,036 |
| Total Program Service Revenue | $21,995,558 |
| Investment income | $354,555 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$16,500 |
| Net Gain/Loss on Asset Sales | $156,154 |
| Net Income from Fundraising Events | $55,487 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,110,572 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $7,736,957 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $755,024 |
| Compensation of current officers, directors, key employees. | $755,024 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,077,127 |
| Pension plan accruals and contributions | $266,088 |
| Other employee benefits | $988,548 |
| Payroll taxes | $564,267 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,756 |
| Fees for services: Accounting | $98,986 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $30,000 |
| Fees for services: Investment Management | $34,926 |
| Fees for services: Other | $75,963 |
| Advertising and promotion | $284,803 |
| Office expenses | $36,694 |
| Information technology | $441,659 |
| Royalties | $0 |
| Occupancy | $381,832 |
| Travel | $266,350 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $46,957 |
| Interest | $133,404 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,183,497 |
| Insurance | $329,596 |
| All other expenses | $739,160 |
| Total functional expenses | $25,843,831 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,270,156 |
| Pledges and grants receivable | $726,127 |
| Accounts receivable, net | $370,293 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $76,766 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $563,417 |
| Net Land, buildings, and equipment | $16,538,801 |
| Investments—publicly traded securities | $15,617,866 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,710,287 |
| Total assets | $47,873,713 |
| Accounts payable and accrued expenses | $1,680,179 |
| Grants payable | $0 |
| Deferred revenue | $1,059,864 |
| Tax-exempt bond liabilities | $5,912,529 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,577,475 |
| Total liabilities | $15,230,047 |
| Net assets without donor restrictions | $14,611,729 |
| Net assets with donor restrictions | $18,031,937 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $47,873,713 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Franklin Pierce University Rindge, NH | $92,753,056 | $85,806,266 |
New England College Henniker, NH | $96,223,111 | $84,142,963 |
Unity Environmental University New Gloucester, ME | $90,752,974 | $78,824,720 |
Colby-Sawyer College New London, NH | $134,968,854 | $69,063,751 |
Thomas College Waterville, ME | $83,830,985 | $31,052,244 |
College Of The Atlantic Bar Harbor, ME | $141,928,490 | $28,002,873 |
Maine College Of Art Portland, ME | $47,873,713 | $26,110,572 |
Thomas More College Of Liberal Arts Incorporated Merrimack, NH | $7,414,400 | $5,988,598 |
Magdalen College Warner, NH | $3,658,951 | $2,671,615 |
Keene Endowment Association Keene, NH | $16,865,844 | $3,071,802 |
Maine Wesleyan Board Of Education Topsham, ME | $1,191,719 | $42,530 |
New England Baptist Bible College Bangor, ME | $0 | $0 |