Maine College Of Art
- Assets
- $42.2m
- Revenue
- $26.0m
- Investments
- $0.0
- Employees
- 377
- Location
- Portland, ME
- Founding
- 01/1982
- Data as of
- 06/2021
- 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 06/2021, Maine College Of Art employed 377 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 06/2021, Maine College Of Art generated $26.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $22.9m during the year ending 06/2021. While expenses have increased by 3.1% per year over the past 6 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
2021
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.
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laura Freid President | Officer | 40 | $357,125 |
Elizabeth Elicker Executive VP | Officer | 40 | $168,696 |
Ian Anderson VP Academic & Dean | Officer | 40 | $134,510 |
Andr Fransen Van DE Putte Enrollment Officer | 40 | $113,077 | |
Kathryn Yates Vice Chair | OfficerTrustee | 2 | $0 |
Brian Wilk Chair | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
First Protection Services Inc Security | 6/29/21 | $197,596 |
Jenzabar Inc Software & Support | 6/29/21 | $173,845 |
First Protection Services Inc Security | 6/29/21 | $197,596 |
Jenzabar Inc Software & Support | 6/29/21 | $173,845 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $14,100 |
| Related organizations | $0 |
| Government grants | $2,428,607 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,997,314 |
| Noncash contributions included in lines 1a–1f | $3,261,581 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,440,021 |
| Total Program Service Revenue | $18,871,159 |
| Investment income | $241,566 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$3,104 |
| Net Gain/Loss on Asset Sales | $391,779 |
| Net Income from Fundraising Events | $67,096 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,019,477 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $6,780,305 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $773,408 |
| Compensation of current officers, directors, key employees. | $773,408 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,087,333 |
| Pension plan accruals and contributions | $235,054 |
| Other employee benefits | $840,966 |
| Payroll taxes | $504,366 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $30,780 |
| Fees for services: Other | $139,975 |
| Advertising and promotion | $261,533 |
| Office expenses | $26,439 |
| Information technology | $415,528 |
| Royalties | $0 |
| Occupancy | $340,976 |
| Travel | $8,263 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,820 |
| Interest | $230,970 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,243,330 |
| Insurance | $299,764 |
| All other expenses | $708,387 |
| Total functional expenses | $22,879,402 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,172,429 |
| Pledges and grants receivable | $1,216,060 |
| Accounts receivable, net | $138,408 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $267,205 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $457,940 |
| Net Land, buildings, and equipment | $18,085,795 |
| Investments—publicly traded securities | $15,412,452 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,415,849 |
| Total assets | $42,166,138 |
| Accounts payable and accrued expenses | $1,122,779 |
| Grants payable | $0 |
| Deferred revenue | $817,090 |
| Tax-exempt bond liabilities | $6,699,895 |
| 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 | $20,748 |
| Other liabilities | $4,250,589 |
| Total liabilities | $12,911,101 |
| Net assets without donor restrictions | $11,188,840 |
| Net assets with donor restrictions | $18,066,197 |
| 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 | $42,166,138 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Maine College Of Art has recieved totaling $850.
| Awarding Organization | Amount |
|---|---|
William Searls Scholarship Foundation Damariscotta, ME PURPOSE: SCHOLARSHIP | $850 |
Endowment Analysis
| Beg. Balance | $9,833,954 |
| Earnings | $2,998,207 |
| Net Contributions | $3,039,143 |
| Grants | $458,852 |
| Ending Balance | $15,412,452 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Thomas College Waterville, ME | $83,830,985 | $31,052,244 |
College Of The Atlantic Bar Harbor, ME | $133,676,028 | $26,542,064 |
Maine College Of Art Portland, ME | $42,166,138 | $26,019,477 |
Unity Environmental University New Gloucester, ME | $57,062,200 | $27,891,270 |
Thomas More College Of Liberal Arts Incorporated Merrimack, NH | $7,226,691 | $5,235,090 |
Magdalen College Warner, NH | $4,581,565 | $4,198,746 |
Keene Endowment Association Keene, NH | $12,021,054 | $1,464,084 |
Maine Wesleyan Board Of Education Topsham, ME | $1,135,593 | $36,879 |
New England Baptist Bible College Bangor, ME | $0 | $0 |