2025-05-15T18:20:48-04:00 2024-06-30 WITHUMSMITHBROWNPC 4600 EAST WEST HWY 900 BETHESDA MD 208143423 990 2023-07-01 521859814 MONTSERRAT COLLEGE OF ART INC % LISA SHAWNEY MONT 9789214242 23 ESSEX STREET BEVERLY MA 01915 LISA SHAWNEY CFO 9789214242 2024-05-15 true true RICHARD Ruvelson P00234075 3012726000 2023 2025-03-06 01:10:19Z LISA SHAWNEY 23 ESSEX STREET BEVERLY MA 01915 14425014 false X WWW.MONTSERRAT.EDU X 1992 MA SEE SCHEDULE O. 16 14 259 16 0 0 1719658 936653 13680707 12633653 49267 143261 415515 323928 15865147 14037495 4948450 4787872 0 0 6123004 6267482 0 0 141419 5061556 5091956 16133010 16147310 -267863 -2109815 21311238 19852624 11773589 12180864 9537649 7671760 X SEE SCHEDULE O. false false 12169795 4787872 12633653 MONTSERRAT HAS AN ACTIVE STUDENT BODY OF 360+ STUDENTS AS OF FALL 2023 AND EMPLOYS 70+ FACULTY MEMBERS. ITS SMALL SIZE ALLOWS FOR MORE ACADEMIC ATTENTION TO THE PROGRESS OF EACH INDIVIDUAL STUDENT. WE BELIEVE IN PREPARING OUR STUDENTS FOR SUCCESSFUL, ENJOYABLE CAREERS IN CREATIVE FIELDS. THAT'S WHY WE INCORPORATE EXPERIENCE-BASED LEARNING INTO OUR CURRICULUM AND ASSIST STUDENTS WITH FINDING MEANINGFUL INTERNSHIPS THAT MOST COMPLETE DURING THEIR JUNIOR YEAR. MONTSERRAT COLLEGE OF ART OFFERS A WIDE VARIETY OF ART, DESIGN AND WRITING PROGRAMS IN A STUDENT-CENTERED ENVIRONMENT THAT'S RIGOROUS, AND COLLABORATIVE. 12169795 true true false false false false false true false true true false false true true true true false true false true false false false true false false false true true true false false false false false false false true true true false false false false false false false false false true 77 0 true 259 true false false false false false true true false false false false false false X 16 14 false false false false false false false true true false false true true true true true true true true false MA X LISA SHAWNEY 9789214242 23 ESSEX STREET BEVERLY MA 01915 Brian Pellinen PRESIDENT 40.0 0.0 X 216646 0 20860 Lisa Shawney CFO 40.0 0.0 X 153715 0 19498 Blyth Hazen TRUSTEE - FACULTY REP 40.0 0.0 X 59296 0 9051 Mercedes Sherrod Evans CHAIR 1.0 0.0 X X 0 0 0 Dr Michael J Belliveau VICE CHAIR 1.0 0.0 X X 0 0 0 Katherine B Winter TRUSTEE 1.0 0.0 X 0 0 0 Josue Bessiake TRUSTEE 1.0 0.0 X 0 0 0 Sarah Dineen TRUSTEE 1.0 0.0 X 0 0 0 Ken Mastrocola TRUSTEE 1.0 0.0 X 0 0 0 Robert Hart Jr TREASURER 1.0 0.0 X X 0 0 0 David Shopper TRUSTEE 1.0 0.0 X 0 0 0 Chris Koeplin TRUSTEE 1.0 0.0 X 0 0 0 Dr Tony Laing TRUSTEE 1.0 0.0 X 0 0 0 Tyson J Lynch TRUSTEE 1.0 0.0 X 0 0 0 Dr Velda McRae-Yates TRUSTEE 1.0 0.0 X 0 0 0 January O'Neil TRUSTEE 1.0 0.0 X 0 0 0 Mags Harries TRUSTEE 1.0 0.0 X 0 0 0 Barbara Schaye TRUSTEE 1.0 0.0 X 0 0 0 John Sutyak SECRETARY 1.0 0.0 X X 0 0 0 429657 0 49409 2 false true false ALLIED UNIVERSAL SECURITY SERVICES 580 HARRISON AVENUE BOSTON MA 02118 SECURITY 183377 ISAACSON MILLER INC 263 SUMMER ST FL 7 BOSTON MA 022101525 EXEC. RECRUITMENT 112374 INVALEON TECHNOLOGIES CORPORATION 26 PARKRIDGE RD 1B HAVERHILL MA 01835 TECHNOLOGY 109377 HIGHER EDUCATION ASSISTANCE GROUP 60 WALNUT ST WELLESLEY MA 02481 CONSULTING SERVICES 103148 4 155349 146221 635083 22580 936653 undergraduate tuition 611710 9380265 9380265 student housing 611710 2418917 2418917 student fees 611710 565221 565221 continuing education 611710 202758 202758 STUDENT ART SUPPLIES 611710 66492 66492 12633653 143261 143261 0 0 562500 272023 290477 0 290477 290477 0 94119 155349 115496 -21377 -21377 0 0 0 0 0 0 miscellaneous 611710 54828 54828 54828 14037495 12688481 0 412361 0 4787872 4787872 0 0 485053 355353 122463 7237 0 4710785 3499506 1143832 67447 47333 30328 15824 1181 671211 431783 224400 15028 353100 227145 118049 7906 0 9312 9312 56082 56082 0 0 5000 5000 925060 331415 574416 19229 159401 102416 39595 17390 444401 243590 200252 559 29101 29101 0 1437653 735203 702450 409722 370967 38755 0 0 203746 179221 24525 0 579743 510178 69565 208607 101122 107485 maintenance 178595 177381 1214 security 196227 196227 miscellaneous expenses 113189 75532 32215 5442 credit card and bank fees 58098 58098 78019 10783 67236 16147310 12169795 3836096 141419 993150 684964 0 0 80278 48792 95344 157725 0 0 0 0 0 0 0 0 179854 274174 19699728 9145635 10595443 10554093 4335789 2930044 0 0 0 0 0 0 5031380 5202832 21311238 19852624 456536 648481 0 0 476397 621934 4643133 4499704 0 0 0 0 1514678 1435324 0 0 4682845 4975421 11773589 12180864 X 6536376 4590779 3001273 3080981 9537649 7671760 21311238 19852624 X -2109815 359422 -115496 X X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X TEACHING true 3510374 122400 474412 992462 3114724 2858176 265111 387087 3510374 3079804 326497 -548125 2858176 1367922 1043804 668078 3079804 1328644 56000 -16722 1367922 0.18440 0.81560 true false 1129346 1129346 14791131 6404235 8386896 472841 276512 196329 2513822 2187344 326478 792588 277544 515044 10554093 DEBT SERVICE RESERVE 450000 RIGHT OF USE ASSET 4752832 5202832 0 STUDENT HOUSING DEPOSITS 92700 LEASE LIABILITIES - OPERATING 4882721 4975421 X 9609045 359422 359422 9249623 4787872 4787872 14037495 11474934 115496 115496 11359438 4787872 4787872 16147310 PART X, LINE 2: The College has been notified by the Internal Revenue Service that it meets the qualifications to be classified as a tax-exempt entity under Section 501(c)(3) of the Internal Revenue Code. As a not-for-profit entity exempt from income taxes, the College may, however, be subject to tax on unrelated business income. Accounting principles generally accepted in the United States of America require an entity to assess the probability that a tax position has a more likely than not sustainability after review by tax authorities. If a tax position is deemed not to meet this threshold, any unrecognized tax benefits and costs are estimated and recognized. Tax returns are routinely open for review by the tax authorities for three years from their due date. In certain circumstances, the statute of limitations may remain open indefinitely. As a not-for-profit entity exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code, the College may, however, be subject to tax on unrelated business income. PART III, LINE 1A: COLLECTION ITEMS ACQUIRED EITHER THROUGH PURCHASE OR DONATION ARE NOT CAPITALIZED. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IF PURCHASED WITH UNRESTRICTED ASSETS AND AS DECREASES IN TEMPORARILY RESTRICTED OR PERMANENTLY RESTRICTED NET ASSETS IF PURCHASED WITH DONOR-RESTRICTED ASSETS. CONTRIBUTIONS OF COLLECTION ITEMS ARE NOT RECOGNIZED IN THE STATEMENT OF ACTIVITIES. PROCEEDS FROM DEACQUISITIONS OR INSURANCE RECOVERIES ARE REFLECTED ON THE STATEMENT OF ACTIVITIES BASED ON THE ABSENCE OR EXISTENCE AND NATURE OF DONOR-IMPOSED RESTRICTIONS. PART V, LINE 4: THE COLLEGE'S INTENDED USE OF ENDOWMENT FUNDS IS TO PROVIDE A PREDICTABLE STREAM OF REVENUE TO PROGRAMS SUPPORTED BY ENDOWMENT FUNDS. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS $4,787,482 PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING $115,496 PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS $4,787,482 true true true true true true true true false true LINE 3 the college draws a substantial percentage of its students from the Northeastern region of the United States. The college's nondiscrimination policy is in all brochures etc. and on the college's website. the website is a major tool in recruiting students worldwide. LINE 6 - EXPLANATION OF GOVERNMENT FINANCIAL AID: The college receives federal and state financial aid for qualified students and disburses the funds directly to the qualified students. true East Asia and the Pacific 0 0 Program Services UNDERGRAD PROGRAM 95472 East Asia and the Pacific 0 0 Program Services ART EDUCATORS PROGRAM 46844 0 0 0 0 142316 142316 false false false false false false Artrageous 217309 135639 81670 24628 37454 300 37189 Golf tournament 19205 17820 1385 770 940 5573 699 1 12954 1890 11064 3900 550 3493 249468 155349 94119 770 25568 46927 850 41381 115496 -21377 true need based scholarships 44 73615 merit based scholarships 264 4578912 OTHER GRANTS 43 61475 housing grant 25 59920 open house awards 14 13950 Part I Description of Procedure for Monitoring Use of Funds: The college reviews and makes sure all students receiving government grants are eligible to receive those grants before disbursement of funds. X X false false false false false false false false false Brian Pellinen PRESIDENT 216646 0 0 0 0 0 4333 0 16527 0 237506 0 0 0 Lisa Shawney CFO 153715 0 0 0 0 0 3074 0 16424 0 173213 0 0 0 A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2020-02-28 3595000 DEBT REFINANCE false false false B MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2020-02-28 1645000 DEBT REFINANCE false false false A 442302 0 3595000 0 0 0 41796 0 0 3553204 0 0 2020 false false false false B 224122 0 1645000 0 0 0 32076 0 0 1612924 0 0 2020 false false false false A false false false false false false 0 false false false true B false false false false false false 0 false false false false A false false false false false false 0 false false false 0 false false B false false false false false 0 false false false 0 false false A true B false SCHEDULE K, PART I, BOND ISSUES: (A) ISSUER NAME: MASSACHUSETTS DEVELOPMENT FINANCE AGENCY REVENUE BONDS, SERIES 2020A (B) ISSUER NAME: MASSACHUSETTS DEVELOPMENT FINANCE AGENCY REVENUE BONDS, SERIES 2020B JO BRODERICK DEAN OF COLLEGE RELATIONS 4106 THE EMPLOYEE false SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (A) NAME OF PERSON: JO BRODERICK (B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: DEAN OF COLLEGE RELATIONS (D) DESCRIPTION OF TRANSACTION: THE EMPLOYEE'S SPOUSE IS THE OWNER OF A COMPANY FROM WHICH THE COLLEGE PURCHASES PRINTING SERVICES AND SUPPLIES. FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: MONTSERRAT COLLEGE OF ART, IS A SMALL INDEPENDENT ART COLLEGE, WHICH PROVIDES AN INDIVIDUALIZED EDUCATION TO ARTISTS AND DESIGNERS THAT IS FOCUSED ON THE PROFESSIONAL AND PERSONAL SUCCESS OF EACH STUDENT. FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: FOUNDED BY WORKING CREATIVE PROFESSIONALS, MONTSERRAT COLLEGE OF ART PROVIDES AN INDIVIDUALIZED EDUCATION FOCUSED ON MAXIMIZING THE PROFESSIONAL AND PERSONAL SUCCESS OF EACH STUDENT. STRUCTURED AROUND EXPERIENTIAL LEARNING, STUDIO PRACTICE, LIBERAL ARTS, AND PROFESSIONAL PREPARATION, THE MISSION OF THE COLLEGE IS TO ENSURE THAT ITS GRADUATES LEAVE EQUIPPED WITH THE COMPETENCE, CONFIDENCE, AND HABITS OF MIND TO BUILD LIVES OF CREATIVE ENTERPRISE AND COMMUNITY ENGAGEMENT. MONTSERRAT RECOGNIZES ITS ROLE AS AN ECONOMIC DRIVER AND CULTURAL LEADER IN THE REGION. MONTSERRAT COLLEGE OF ART IS A NON-PROFIT, INDEPENDENT ART SCHOOL, ACCREDITED BY THE NEW ENGLAND COMMISSION OF HIGHER EDUCATION (NECHE), THROUGH ITS COMMISSION ON INSTITUTIONS OF HIGHER EDUCATION TO AWARD THE BACHELOR OF FINE ARTS DEGREE IN 10 STUDIO CONCENTRATIONS. THE COLLEGE IS ALSO A MEMBER OF THE ASSOCIATION OF INDEPENDENT COLLEGES OF ART AND DESIGN. FORM 990, PART VI, SECTION B, LINE 11B: THE COLLEGE'S FORM 990 IS DISTRIBUTED TO THE BOARD FOR REVIEW AND APPROVAL BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C: TRUSTEES AND MANAGEMENT EMPLOYEES ARE REQUIRED TO SIGN A CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15: COMPENSATION FOR THE PRESIDENT IS DETERMINED BY THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19: THE COLLEGE MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC UPON REQUEST. ITS AUDITED FINANCIAL STATEMENTS ARE POSTED ON ITS WEBSITE. FORM 990, PART XII, LINE 2C THE FINANCE COMMITTEE ASSUMES OVERSIGHT OF THE AUDIT OF THE COLLEGE'S FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAD NOT CHANGED FROM PRIOR YEARS. FORM 990, PART XI, LINE 9, CHANGES IN NET ASSETS: FUNDRAISING $-115,496