Massachusetts College Of Liberal Arts Foundation Inc
- Assets
- $23.6m
- Revenue
- $1.9m
- Investments
- $17.4m
- Employees
- 0
- Location
- North Adams, MA
- Founding
- 06/1977
- Data as of
- 06/2021
- EIN
- 04-2613803
Organization Overview
Massachusetts College Of Liberal Arts Foundation Inc is located in North Adams, MA. The organization was established in 1977. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Massachusetts College Of Liberal Arts Foundation Inc 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, Massachusetts College Of Liberal Arts Foundation Inc generated $1.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $1.6m during the year ending 06/2021. 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
TO SUPPORT EDUCATIONAL ACTIVITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE AND SUPPORT THE EDUCATIONAL AND OTHER LEGAL ACTIVITIES OF MASSACHUSETTS COLLEGE OF LIBERAL ARTS AND TO RENDER FINANCIAL AID TO STUDENTS AT MCLA THROUGH CONTRIBUTIONS FROM THE COMMUNITY, ALUMNI, AND PARENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie Arnold Chair | OfficerTrustee | 1 | $0 |
Amy Smith Clerk | OfficerTrustee | 1 | $0 |
Jason Dohaney Vice Chair | OfficerTrustee | 1 | $0 |
Marcus Morandi Vice President | OfficerTrustee | 37.5 | $0 |
Billie Jo Sawyer Treasurer | OfficerTrustee | 1 | $0 |
Robert Ziomek President | OfficerTrustee | 37.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $908,432 |
| Investment income | $263,518 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $93,033 |
| Net Gain/Loss on Asset Sales | $671,348 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,936,331 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $521,597 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,525 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $75,847 |
| Fees for services: Other | $74,614 |
| Advertising and promotion | $6,919 |
| Office expenses | $10,978 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,657 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,036 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,154 |
| Insurance | $15,483 |
| All other expenses | $0 |
| Total functional expenses | $1,638,362 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $214,890 |
| Savings and temporary cash investments | $1,321,278 |
| Pledges and grants receivable | $2,194,095 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $25,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $17,383,639 |
| Investments—program-related | $0 |
| Intangible assets | $6,496 |
| Other assets | $0 |
| Total assets | $23,633,180 |
| Accounts payable and accrued expenses | $15,063 |
| Grants payable | $0 |
| Deferred revenue | $13,300 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,015,207 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $116,184 |
| Total liabilities | $1,159,754 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $22,473,426 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Massachusetts College Of Liberal Arts Foundation Inc has recieved totaling $825,358.
| Awarding Organization | Amount |
|---|---|
Feigenbaum Foundation Inc Pittsfield, MA PURPOSE: ENDOWMENT/CAPITAL CAMPAIGN | $400,000 |
Raymond James Charitable Endowment Fund St Petersberg, FL PURPOSE: GENERAL SUPPORT | $300,000 |
The Berkshire Taconic Community Foundation Inc Sheffield, MA PURPOSE: FOR EDUCATIONAL PROGRAMMING, ENRICHMENT AND SUPPOR OF ADULT LEARNERS | $54,731 |
Fiduciary Charitable Foundation Boston, MA PURPOSE: DONATIONS | $50,000 |
Help Yourself Win Foundation Schenectady, NY PURPOSE: TO ASSIST MCLA WITH THEIR MISSION OF EXTENDING PUBLIC SERVICE TO BRING FIFTH GRADERS TO CAMPUS AND BUILD PERSONAL INTERESTS IN WHAT A COLLEGE EDUCATION CAN PROVIDE. FOUNDATION PRESIDENT MEETS WITH GRANT RECIPIENT ON AN ANNUAL BASIS TO ENSURE COMPLIANCE. | $15,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $5,047 |
Endowment Analysis
| Beg. Balance | $15,470,558 |
| Earnings | $3,672,401 |
| Net Contributions | $1,042,711 |
| Other Expense | $1,352,807 |
| Ending Balance | $18,832,853 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Auxiliary Services State University College At Oswego Inc Oswego, NY | $22,384,872 | $17,397,841 |
Brown Dermatology Inc Providence, RI | $7,129,470 | $16,553,293 |
New York School Of Interior Design New York, NY | $51,839,026 | $19,439,647 |
Campus Auxiliary Services Inc Geneseo, NY | $17,284,029 | $15,748,461 |
American Friends Of University College Oxford Inc Glastonbury, CT | $206,820 | $11,471,477 |
Vermont College Of Fine Arts Inc Montpelier, VT | $16,896,015 | $9,896,722 |
Nysernetorg Inc Syracuse, NY | $20,513,816 | $10,109,446 |
University Auxiliary Services At Albany Inc Albany, NY | $43,160,685 | $14,879,703 |
Suny Cobleskill Auxiliary Services Inc Cobleskill, NY | $8,795,968 | $7,700,761 |
New York College Of Health Professions Syosset, NY | $13,423,184 | $7,322,070 |
Holy Apostles College & Seminary Cromwell, CT | $16,975,165 | $9,078,766 |
Central Yeshiva Tomchei Timimim Lubavitz Of The U S A Brooklyn, NY | $11,238,577 | $6,653,725 |