College Of The Atlantic
- Assets
- $141.9m
- Revenue
- $28.0m
- Investments
- $0.0
- Employees
- 616
- Location
- Bar Harbor, ME
- Founding
- 09/1969
- Data as of
- 06/2023
- EIN
- 23-7032625
Organization Overview
College Of The Atlantic is located in Bar Harbor, ME. The organization was established in 1969. 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, College Of The Atlantic employed 616 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. College Of The Atlantic 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, College Of The Atlantic generated $28.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $30.2m during the year ending 06/2023. While expenses have increased by 3.5% per year over the past 7 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
OPERATION OF A FOUR YEAR ACCREDITED DEGREE COLLEGE, OPERATION OF A SMALL GRADUATE PROGRAM AND OTHER SUMMER EDUCATION PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TUITION, FEES AND ROOM AND BOARD. COLLEGE OF THE ATLANTIC OFFERS UNDERGRADUATE CLASSES TO APPROXIMATELY 350 STUDENTS. A DEGREE IN HUMAN ECOLOGY CAN BE EARNED FOR UNDERGRADUATES AND A MASTERS OF PHILOSOPHY DEGREE IN HUMAN ECOLOGY CAN BE EARNED FOR GRADUATE STUDENTS. THE COLLEGE PROVIDES ON CAMPUS HOUSING TO APPROXIMATELY 160 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Beth Gardiner Chair | OfficerTrustee | 4 | $0 |
Marthann Samek Vice Co-Chai | OfficerTrustee | 4 | $0 |
Henry Lp Schmelzer Vice Co-Chai | OfficerTrustee | 4 | $0 |
Ronald E Beard Secretary | OfficerTrustee | 4 | $4,400 |
Barclay Corbus Treasurer | OfficerTrustee | 8 | $0 |
Cynthia Baker Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Alliedcook Construction Construction | 6/29/23 | $2,433,188 |
El Shea Inc Construction | 6/29/23 | $716,392 |
Restorations Unlimited Of Maine Construction | 6/29/23 | $325,000 |
Galerie Lelong Co Construction | 6/29/23 | $325,000 |
Opal Global Construction | 6/29/23 | $223,640 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $175,613 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $349,821 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,153,621 |
| Noncash contributions included in lines 1a–1f | $215,071 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,679,055 |
| Total Program Service Revenue | $18,744,811 |
| Investment income | $1,013,356 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $413,536 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,002,873 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $11,093,221 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $357,955 |
| Compensation of current officers, directors, key employees. | $357,955 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,681,203 |
| Pension plan accruals and contributions | $463,214 |
| Other employee benefits | $1,151,178 |
| Payroll taxes | $558,149 |
| Fees for services: Management | $131,037 |
| 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 | $930,089 |
| Fees for services: Other | $108,234 |
| Advertising and promotion | $62,366 |
| Office expenses | $187,505 |
| Information technology | $79,802 |
| Royalties | $0 |
| Occupancy | $24,756 |
| Travel | $102,558 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $88,621 |
| Interest | $499,954 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,580,557 |
| Insurance | $382,777 |
| All other expenses | $2,306,102 |
| Total functional expenses | $30,245,448 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $327,708 |
| Savings and temporary cash investments | $14,631,275 |
| Pledges and grants receivable | $4,043,505 |
| Accounts receivable, net | $297,373 |
| Loans from Officers, Directors, or Controlling Persons | $118,503 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $81,929 |
| Inventories for sale or use | $15,355 |
| Prepaid expenses and deferred charges | $183,891 |
| Net Land, buildings, and equipment | $46,693,751 |
| Investments—publicly traded securities | $75,417,497 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $117,703 |
| Total assets | $141,928,490 |
| Accounts payable and accrued expenses | $1,236,676 |
| Grants payable | $0 |
| Deferred revenue | $598,554 |
| Tax-exempt bond liabilities | $12,485,000 |
| 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 | $1,286,157 |
| Total liabilities | $15,606,387 |
| Net assets without donor restrictions | $51,206,705 |
| Net assets with donor restrictions | $75,115,398 |
| 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 | $141,928,490 |
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 |