2023-05-05T08:56:47-05:00 2022-06-30 390758449 WIPFLI LLP 30 LONG CREEK DRIVE SOUTH PORTLAND ME 041062437 990 2021-07-01 010378758 MAINE COLLEGE OF ART MAIN 2076995045 522 CONGRESS STREET PORTLAND ME 04101 ELIZABETH ELICKER EXECUTIVE VP 2076995045 2023-03-28 1 ELIZABETH ELICKER 999009999 JULIA HOWLAND CPA P01711658 2077745701 2023-03-28 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z ELIZABETH ELICKER 522 CONGRESS STREET PORTLAND ME 04101 29819944 0 X WWW.MECA.EDU X 1882 ME THE COLLEGE'S MISSION IS TO PROVIDE EDUCATION IN FINE ARTS 19 19 345 19 0 0 6440021 7074314 18871159 21751888 633345 397302 74952 58833 26019477 29282337 6780305 7699249 0 0 8441127 8776209 0 0 371786 7657970 8457464 22879402 24932922 3140075 4349415 42166138 42121529 12911101 10925449 29255037 31196080 THE COLLEGE'S MISSION IS TO PROVIDE EDUCATION IN FINE ARTS 0 0 18939450 7699249 21756684 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. 18939450 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 0 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 160 0 1 345 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 19 19 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 0 1 0 0 X ELIZABETH ELICKER VP 2076995045 522 CONGRESS STREET PORTLAND ME 04101 BRIAN WILK CHAIR 2.00 X X 0 0 0 KATHRYN YATES VICE CHAIR 2.00 X X 0 0 0 DAN BAILIN DIRECTOR 2.00 X 0 0 0 DENISE CAREY DIRECTOR 2.00 X 0 0 0 JENNIE COYNE DIRECTOR 2.00 X 0 0 0 REID CREWE DIRECTOR 2.00 X 0 0 0 KEREM DURDAG DIRECTOR 2.00 X 0 0 0 EDWARD FRIEDMAN DIRECTOR 2.00 X 0 0 0 DIANE GARTHWAITE DIRECTOR 2.00 X 0 0 0 REZA JALALI DIRECTOR 2.00 X 0 0 0 KATHRYN KNIGHT-WISE DIRECTOR 2.00 X 0 0 0 MEREDITH KOERNER DIRECTOR 2.00 X 0 0 0 SUSAN A ROGERS DIRECTOR 2.00 X 0 0 0 GIMBALA SANKARE DIRECTOR 2.00 X 0 0 0 JENNY SCHEU DIRECTOR 2.00 X 0 0 0 SUSAN SCHRAFT DIRECTOR 2.00 X 0 0 0 ARI B SOLOTOFF DIRECTOR 2.00 X 0 0 0 ABBY WARK DIRECTOR 2.00 X 0 0 0 PAULA ZEITLIN DIRECTOR 2.00 X 0 0 0 DEBORAH H DLUHY DIRECTOR 2.00 X 0 0 0 LAURA FREID PRESIDENT 40.00 X 356091 0 18133 ELIZABETH ELICKER EXECUTIVE VP 40.00 X 173754 0 17618 IAN ANDERSON VP ACADEMIC & DEAN 40.00 X 143321 0 20684 673166 0 56435 3 0 1 0 FIRST PROTECTION SERVICES INC PO BOX 7209 SCARBOROUGH ME 04070 SECURITY 211857 JENZABAR INC PO BOX 55018 BOSTON MA 022055018 SOFTWARE & SUPPORT 191694 GOV CONNECTION PO BOX 536477 PITTSBURGH PA 15253 HARDWARE SOFTWARE & SUPPORT 104172 3 35105 1447626 5591583 727867 7074314 TUITION AND FEES 611600 18024411 18024411 AUXILIARY INCOME 611600 3727477 3727477 21751888 318040 4796 313244 32739 51173 -18434 -18434 -18434 536000 456738 79262 79262 79262 73265 35105 29696 43569 43569 MISC INCOME 611600 33698 33698 33698 29282337 21756684 0 451339 7699249 7699249 673166 673166 6523722 4773438 1531933 218351 254402 168736 77948 7718 798075 529335 244527 24213 526844 349437 161423 15984 61845 61845 70905 70905 39193 39193 43703 43703 277357 112204 132122 33031 40274 3109 36551 614 428309 184997 226079 17233 340976 245116 95860 134517 130082 4271 164 15186 15186 173721 95984 77737 1204382 548586 655796 385734 283664 102070 DORM 2453608 2453608 MISCELLANEOUS EXP 928493 77542 815742 35209 MAINTENANCE & SERVICES 694208 492343 191772 10093 UTILITIES 338799 258418 76362 4019 826254 533602 287495 5157 24932922 18939450 5621686 371786 2172429 2284458 1216060 4376266 138408 209149 267205 185100 457940 511712 30976583 13864814 18085795 17111769 15412452 13869461 4415849 3573614 42166138 42121529 1122779 1025407 817090 732873 6699895 6476912 20748 0 4250589 2690257 12911101 10925449 X 11188840 11659838 18066197 19536242 29255037 31196080 42166138 42121529 X 4349415 -2620372 212000 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 15412452 1181681 -2227867 496508 13869758 9833954 3039143 2998207 458852 15412452 8637230 427755 1137380 368411 9833954 8113222 480622 322237 278851 8637230 7432958 547995 392510 260241 8113222 0.03000 0.97000 0.00000 0 0 513333 513333 187881 28732764 12925124 15995521 1540266 939690 600576 2339 2339 17111769 BOND ESCROW FUNDS 1136782 RIGHT-OF-USE ASSETS - OPERATING LEASES 2436832 3573614 DUE TO FEDERAL GOVT - PERKINS LOAN FUND 144725 GIFT ANNUITIES PAYABLE 8500 INTEREST RATE SWAP LIABILITY 53000 LEASE OBLIGATION - OPERATING LEASES 2484032 2690257 19255588 -2620372 292869 -2327503 21583091 7699246 7699246 29282337 17314545 80869 80869 17233676 7699246 7699246 24932922 PART III, LINE 1A: THE COLLEGE DOES NOT CAPITALIZE COLLECTIONS, PRIMARILY LIBRARY BOOKS AND ART OBJECTS, AS THEY ARE HELD FOR PUBLIC EXHIBITION AND EDUCATION RATHER THAN FINANCIAL GAIN. ANY PROCEEDS FROM THE SALE OF COLLECTION ITEMS ARE USED TO ACQUIRE OTHER ITEMS FOR THE COLLECTION. THE COLLEGE ESTIMATES THE VALUE OF THE COLLECTION TO BE APPROXIMATELY $74,000 AT JUNE 30, 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSE 29,696. RENTAL EXPENSES 51,173. GAIN ON INTEREST RATE SWAP 212,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID/SCHOLARSHIPS 7,699,246. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSE 29,696. RENTAL EXPENSES 51,173. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID/SCHOLARSHIPS 7,699,246. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE NONDISCRIMINATORY POLICY IS LISTED IN THE STUDENT HANDBOOK, THE COLLEGE RECRUITMENT VIEW BOOK, AND ON THE COLLEGE'S WEB SITE. SCHEDULE E, PART I, LINE 6 THE ORGANIZATION RECEIVES FUNDS FROM VARIOUS PROGRAMS OF THE UNITED STATES DEPARTMENT OF EDUCATION, SUCH AS THE FEDERAL PERKINS LOAN PROGRAM, THE FEDERAL WORK STUDY PROGRAM, AND THE FEDERAL PELL PROGRAM. THESE FUNDS ALLOW THE COLLEGE TO HELP STUDENTS TO FINANCE THE COST OF THEIR EDUCATION. ART AUCTION AND SALE 73023 19725 53298 10081 FASHION SHOW 23333 12220 11113 13726 1 12014 3160 8854 5889 108370 35105 73265 29696 29696 43569 1 SPECIFIC ASSISTANCE -SEOG 484 7588624 SCHOLARSHIPS & ASSISTANCE 140 110625 CREDIT TO STUDENTS ACCOUNT SCHOLARSHIP PART I, LINE 2: THE COLLEGE PROVIDES SCHOLARSHIPS TO ENROLLED STUDENTS. AMOUNTS AWARDED ARE DETERMINED BY THE FINANCIAL AID DEPARTMENT IN ACCORDANCE WITH THE COLLEGE'S AND FEDERAL AGENCY POLICIES. AMOUNTS GIVEN ARE CREDITED TO THE STUDENTS ACCOUNT. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 LAURA FREID PRESIDENT 356091 0 0 0 0 0 17162 0 971 0 374224 0 0 0 ELIZABETH ELICKER EXECUTIVE VP 173754 0 0 0 0 0 8029 0 9589 0 191372 0 0 0 IAN ANDERSON VP ACADEMIC & DEAN 143321 0 0 0 0 0 6782 0 13902 0 164005 0 0 0 A MHHEFA SERIES 2016A 010314384 56042REW8 2016-06-28 73764920 REFUNDED MHHEFA SERIES 2006F BONDS ISSUED 9/7/06 0 0 1 B MHHEFA SERIES 2018 MCA 010314384 NONEAVAIL 2018-09-26 2850000 NEW MONEY 0 0 0 C MHHEFA SERIES 2021A 010314384 2021-05-19 2695000 REFUND SERIES 2010B & 2011 0 0 1 A 1859472 137850 22747 1937955 2016 1 0 1 1 B 2202511 59458 2143053 2019 0 0 0 1 C 3197410 492625 3174492 49684 28400 2021 1 0 1 1 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 1 0 0 0 1 C 0 0 0 1 0 0 0 0 1 A 1 B 1 C 1 SCHEDULE K, PART III, LINE 9 AND PART IV, LINE 7 AND PART V THE ISSUER HAS ESTABLISHED WRITTEN PROCEDURES. THE COLLEGE HAS ENTERED INTO TAX REGULATORY AGREEMENTS WITH THE ISSUER THAT REQUIRE THE COLLEGE TO COMPLY WITH THE RESPECTIVE FEDERAL TAX REQUIREMENTS. THE COLLEGE HAS DEVELOPED AND ESTABLISHED ITS OWN WRITTEN PROCEDURES. X 83 62152 NET SALES PRICE X 5 665715 QUOTED PRICE 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B LINE 11A EXPLANATION - THE BOARD CHAIR, FINANCE COMMITTEE, AND MANAGEMENT REVIEW THE 990 PRIOR TO SUBMISSION. THE 990 IS MADE AVAILABLE TO ALL BOARD OF TRUSTEES AFTER THE FILING. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES COMPLETE A CONFLICT OF INTEREST FORM ANNUALLY. THE GOVERNANCE COMMITTEE REVIEWS THE FORMS, AND ADDRESS ANY POTENTIAL CONFLICTS DIRECTLY WITH INDIVIDUAL TRUSTEES. FORM 990, PART VI, SECTION B, LINE 15A THE PRESIDENT'S COMPENSATION IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THEY CONDUCT A REVIEW OF THE PRESIDENT ANNUALLY, REVIEW THE SALARY SURVEY MADE AVAILABLE BY THE ASSOCIATION OF INDEPENDENT COLLEGES OF ART AND DESIGN (AICAD) AS A RESOURCE IN DETERMINING THE LEVEL OF COMPENSATION AND REVIEW AND UPDATE THE EMPLOYMENT CONTRACT. THE PRESIDENT DETERMINES THE COMPENSATION FOR THE OFFICERS OF THE COLLEGE. THE PRESIDENT CONDUCTS AN ANNUAL REVIEW OF EACH OFFICER OR VICE PRESIDENT AND REVIEWS THE SALARY SURVEY MADE AVAILABLE BY THE ASSOCIATION OF INDEPENDENT COLLEGES OF ART AND DESIGN (AICAD) AS A RESOURCE IN DETERMINING LEVELS OF COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: GAIN ON INTEREST RATE SWAP 212,000.