2020-07-13T14:58:59-05:00 2019-06-30 010523282 Berry Dunn McNeil & Parker LLC 1000 Elm Street 4th Floor Manchester NH 03101 990 2018-07-01 020222154 New Hampshire Institute of Art NEWH 6036220313 148 Concord Street Manchester NH 03104 Paula Amato Senior Vice President & CFO 6036220313 2020-07-13 1 Barbara J McGuan CPA P00219457 6036697337 2020-07-13 69.49.157.66 2020-07-13 11:26:47 ED P 2822CCB165EE8EB222BC1A8C889357795F91400A 30B9C2275292C8D8D88632D14A140450B52E3DB5 2018 2020-09-23 17:36:50Z X Paula Amato 148 Concord Street Manchester NH 03104 24653383 0 X www.NHIA.edu X 1898 NH To educate, engage and empower through the arts. X 6 4 293 17 0 0 2006104 195786 10749949 10972241 -72623 285987 95158 2231122 12778588 13685136 3134528 3361214 0 0 5836428 4797794 0 0 0 6910940 5869050 15881896 14028058 -3103308 -342922 38972020 0 17687093 0 21284927 0 X To educate, engage, and empower through the arts. 0 1 10347099 3361214 10972241 Since 1898 The New Hampshire Institute of Art (NHIA) has remained committed to its mission of educating, engaging, and empowering through the arts. NHIA is the oldest and largest non-profit arts institution in New Hampshire. Today our vision is to be seen as a leader in arts education, recognized for our ability to use the arts to foster positive change in the world and enable individuals to reach their full creative potential. NHIA's academic programs and residence halls are housed in 11 buildings spread throughout downtown Manchester, Sharon and Peterborough, NH. The New Hampshire Institute of Art (NHIA) offers Bachelor of Fine Arts (BFA) degree programs in ceramics, comic arts, creative writing, design, fine arts, illustration printmaking, and photography as well as low-residency master of fine arts (MFA) degree programs in creative writing, photography, and visual arts, and a master of arts in teaching (MAT) degree. NHIA's community education division offers non-credit fine arts classes, workshops, and visiting artists intensives taught by a faculty of accomplished and passionate artists/educators. Other offerings at either our Manchester or Sharon, NH campuses include a pre-college summer program and a certificate in creative placemaking. 10347099 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 0 0 0 1 0 0 1 0 0 0 1 185 0 1 293 1 0 0 0 0 0 0 0 0 0 0 0 0 X 6 4 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NH X X Paula Amato 6038362512 148 Concord Street Manchester NH 03104 Michele Perkins President 2.00 35.00 X X 0 299968 32674 James Murtha Vice President 2.00 0.00 X X 0 86167 12343 TJ Whitelaw Chair 2.00 2.00 X X 0 0 0 Katherine Haley Trustee 2.00 2.00 X 0 0 0 Scott Simpson Trustee 2.00 2.00 X 0 0 0 Adam Kapner Trustee 2.00 2.00 X 0 0 0 Tom Stevens Past Chair 2.00 0.00 X X 0 0 0 Joe Reilly Past Vice Chair 2.00 0.00 X X 0 0 0 Kevin Clougherty Past Treasurer 2.00 0.00 X X 0 0 0 George Foote Jr Past Secretary 2.00 0.00 X X 0 0 0 Tom Dougherty Past Trustee 2.00 0.00 X 0 0 0 Beate Becker Past Trustee 2.00 0.00 X 0 0 0 Bill Stevens Past Trustee 2.00 0.00 X 0 0 0 Nick Bentley Past Trustee 2.00 0.00 X 0 0 0 David Murray Past Trustee 2.00 0.00 X 0 0 0 Ben Gayman Past Trustee 2.00 0.00 X 0 0 0 Terry Heinzmann Past Trustee 2.00 0.00 X 0 0 0 Ellen Davis Past Trustee 2.00 0.00 X 0 0 0 Karen Hillson Past Faculty Trustee 2.00 0.00 X 59385 0 404 Karen Mayeu Past Faculty Trustee 2.00 0.00 X 62941 0 2624 Rich Pellegrino Past Faculty Trustee 2.00 0.00 X 44090 0 443 Kent Devereaux President 37.50 0.00 X 209487 0 32845 Paula Amato Senior Vice President & CFO - NEC 2.00 35.00 X 0 191843 23873 Jonathan Lindsey Vice President of Enrollment 37.50 0.00 X 140102 0 40411 William Schaaf Jr Vice President of Academic Affairs 37.50 0.00 X 106904 0 35613 622909 577978 181230 3 0 1 0 Chartwells 2400 Yorkmont Road Charlotte NC 28217 Food Services 706333 Brady Sullivan 670 N Commercial Street 303 Manchester NH 03101 Rental Services 354727 Granite YMCA 117 Market Street Manchester NH 03101 Rental Services 109856 3 116719 79067 195786 Tuition and Fees 611710 8695456 8695456 Auxiliary Enterprises 900099 2107538 2107538 Other Income 900099 169247 169247 10972241 167606 167606 11086628 10968247 118381 118381 118381 Gain on Extinguishment of Debt 900099 2231122 2231122 2231122 13685136 10972241 0 2517109 3361214 3361214 412220 169888 242332 3824761 2258106 1566655 39722 39722 219733 167241 52492 301358 173937 127421 15644 15644 58650 58650 72832 72832 474389 130894 343495 62508 9490 53018 387010 143194 243816 1239019 731434 507585 140098 134351 5747 16908 15499 1409 660025 611106 48919 1439220 1378257 60963 Food Service Operations 625158 625158 Other Organizational Op 454687 290023 164664 Equipment Purchases/Lea 147307 147307 Dues and Memberships 75595 75595 14028058 10347099 3680959 0 14490 0 910820 0 163836 0 291214 0 0 0 0 36764 0 126320 0 0 0 18948425 0 3887142 0 11403586 0 0 0 3189423 0 38972020 0 803561 0 229508 0 12630000 0 1000000 0 2049406 0 974618 0 17687093 0 X -5906606 0 1652055 0 25539478 0 21284927 0 38972020 0 X -342922 34497 -20976502 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 16038490 118719 247264 16404473 18069957 146040 1178459 3355966 16038490 19265257 249622 1787969 3232891 18069957 23581034 -705777 3610000 19265257 25231405 40584 1690955 23581034 0 0 0 10036803 34497 34497 10002306 72832 3609998 3682830 13685136 10594012 0 10594012 72832 3361214 3434046 14028058 Part XI, Line 4b - Other Adjustments: Student Aid 3,361,214. Loss on Interest Rate Swap Agreement 246,164. Change in Fair Value of Split-Interest Agreement 2,620. Part XII, Line 4b - Other Adjustments: Student Aid 3,361,214. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Published communications to the general public which contain the institute's policies of non-discrimination. Line 6 - Explanation of Government Financial Aid: Various federal and state agencies provide student financial aid to the institute. 1 State Grant 44 36650 Federal Pell Grant 146 594580 Federal SEOG Grant 58 11400 Federal Work Study 181 42341 Various Scholarships 622 2676243 FMV Internal Scholarships Part I, Line 2: All assistance to individuals is in the form of financial aid, grants, scholarships and tuition discounts awarded to students. Assistance is applied directly to the student's account balance. X X X 0 0 0 0 0 0 0 0 0 Michele Perkins President 0 288018 0 0 0 11950 0 13750 0 18924 0 332642 0 0 Kent Devereaux President 209487 0 0 0 0 0 8654 0 24191 0 242332 0 0 0 Paula Amato Senior Vice President & CFO - NEC 0 191084 0 0 0 759 0 10000 0 13873 0 215716 0 0 Jonathan Lindsey Vice President of Enrollment 140102 0 0 0 0 0 0 0 40411 0 180513 0 0 0 Arthur Sullivan Former Trustee and Officer 354727 Arthur Sullivan is a principal at Brady Sullivan Properties. The Institute leased residential dorm space through 1/8/18 and currently leases a cafeteria space from Brady Sullivan. 0 Cash and Cash Equivalents 2019-07-01 830992 Audited Financial Statements 020223955 New England College 98 Bridge Street Henniker NH 03242 501(c)(3) Accounts Receivable 2019-07-01 639719 Audited Financial Statements 020223955 New England College 98 Bridge Street Henniker NH 03242 501(c)(3) Contributions Receivable 2019-07-01 35336 Audited Financial Statements 020223955 New England College 98 Bridge Street Henniker NH 03242 501(c)(3) Prepaid Expenses 2019-07-01 211613 Audited Financial Statements 020223955 New England College 98 Bridge Street Henniker NH 03242 501(c)(3) Assets Held for Sale 2019-07-01 631233 Audited Financial Statements 020223955 New England College 98 Bridge Street Henniker NH 03242 501(c)(3) Investments 2019-07-01 11075514 Audited Financial Statements 020223955 New England College 98 Bridge Street Henniker NH 03242 501(c)(3) Land, Buildings, and Equipment 2019-07-01 16648340 Audited Financial Statements 020223955 New England College 98 Bridge Street Henniker NH 03242 501(c)(3) Collections 2019-07-01 3452589 Audited Financial Statements 020223955 New England College 98 Bridge Street Henniker NH 03242 501(c)(3) Restricted Cash 2019-07-01 621623 Audited Financial Statements 020223955 New England College 98 Bridge Street Henniker NH 03242 501(c)(3) Accounts Payable and Accrued Expenses 2019-07-01 -967574 Audited Financial Statements 020223955 New England College 98 Bridge Street Henniker NH 03242 501(c)(3) Due to Related Party 2019-07-01 -968103 Audited Financial Statements 020223955 New England College 98 Bridge Street Henniker NH 03242 501(c)(3) Deferred Revenue 2019-07-01 -244085 Audited Financial Statements 020223955 New England College 98 Bridge Street Henniker NH 03242 501(c)(3) Fair Value of Interest Rate Swap Agreement 2019-07-01 -876787 Audited Financial Statements 020223955 New England College 98 Bridge Street Henniker NH 03242 501(c)(3) Other Liabilities 2019-07-01 -162253 Audited Financial Statements 020223955 New England College 98 Bridge Street Henniker NH 03242 501(c)(3) Long-Term Obligations 2019-07-01 -10826187 Audited Financial Statements 020223955 New England College 98 Bridge Street Henniker NH 03242 501(c)(3) 1 0 0 0 1 1 1 1 0 Part I, Line 2e: Person(s) Involved: TJ Whitelaw, Katherine Haley, Scott Simpson, Adam Kapner, Michele Perkins, and Paula Amato Part I, Line 2e: Explanation of Involvement: The board members and officers listed above will serve as board members and officers of New England College, the transferee organization. Form 990, Part III, line 3 Effective on January 1, 2019, New England College obtained control of the Institute through the appointment of a new Board of Directors for the Institute. The primary purpose of the transaction is to enhance the delivery of academic programs and streamline the administrative institutions of both organizations. The combined institution maintains the name of New England College, with the Institute operating as a subsidiary to New England College through June 30, 2019. The Institute was dissolved as a non-profit entity effective as of July 1, 2019. There was no consideration transferred in connection with the acquisition of the Institute. Form 990, Part VI, Section B, line 11b The Institute's Board receives a complete copy of the 990, including all schedules, prior to filing the 990. Form 990, Part VI, Section B, line 12c The Board of Trustees follows the requirements of state law (NH RSA 1:19-A) with respect to disclosure, evaluation, approval and reporting of business transactions between officers and directors of the institute. The Board conducts an annual survey of its members and officers requiring written disclosure of related party transactions. Transactions in excess of $500 involving board members and officers are reported to the board, evaluated for fairness and the best interests of the institute and then considered for approval by disinterested members of the board. A 2/3 majority vote is required for approval. Notices of any transactions that approved in excess of $5,000 are published in a newspaper of general circulation. A written report of transactions is sent to the New Hampshire attorney general and records are maintained at the office of the institute, available for public inspection. Form 990, Part VI, Section B, line 15a Compensation is reviewed and approved by the executive committee of the board. Form 990, Part VI, Section C, line 19 The Organization makes these documents available upon request. Form 990, Part XI, line 9: Transfer of Net Assets to New England College -20,101,970. Change in Fair Value of Interest Rate Swap Agreement -246,164. Change in Fair Value of Split-Interest Agreement -2,620. Merger Expenses -625,748. New England College 98 Bridge Street Henniker NH 03242 020223955 Education NH 501(c)(3) Line 2 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0