2026-05-15T18:40:48-05:00 2025-06-30 WITHUMSMITHBROWNPC 25 BRAINTREE HILL OFC PK SUITE 102 BRAINTREE MA 02184 990 2024-07-01 521859814 Montserrat College Of Art Inc % LISA SHAWNEY MONT 9789214242 23 Essex Street Beverly MA 01915 LISA SHAWNEY CFO 9789214242 2026-05-15 true true Israel Tannenbaum P01589203 6174711120 2024 2025-03-06 01:10:19Z LISA SHAWNEY 23 Essex Street Beverly MA 01915 16121805 false X WWW.MONTSERRAT.EDU X 1992 MA 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. 19 18 273 19 0 0 936653 2579413 12633653 11690981 143261 705714 323928 379273 14037495 15355381 4787872 4459670 0 0 6267482 6424541 0 0 230393 5091956 4993382 16147310 15877593 -2109815 -522212 19852624 18701932 12180864 11314425 7671760 7387507 X 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. false false 11463955 4459670 11690981 MONTSERRAT HAS AN ACTIVE STUDENT BODY OF 360+ STUDENTS AS OF FALL 2024 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. 11463955 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 false false false false false false false false false false false false true 70 0 true 273 true false false false false false true true false false false false false false X 19 18 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 240733 0 20142 Lisa Shawney CFO 40.0 0.0 X 146584 0 20128 Blyth Hazen Trustee Faculty Rep 40.0 0.0 X 68220 0 9221 Mercedes Sherrod Evans Chair 1.0 0.0 X X 0 0 0 Michael J Belliveau PhD Vice Chair 1.0 0.0 X X 0 0 0 John Sutyak Secretary 1.0 0.0 X X 0 0 0 Robert Hart Jr Treasurer 1.0 0.0 X X 0 0 0 Barbara Schaye Trustee 1.0 0.0 X 0 0 0 Sarah Dineen Trustee 1.0 0.0 X 0 0 0 Dr Tony Laing PhD Trustee 1.0 0.0 X 0 0 0 Reagan McCarthy Trustee Student Rep 1.0 0.0 X 0 0 0 Katherine B Winter Trustee 1.0 0.0 X 0 0 0 Ken Mastrocola Trustee 1.0 0.0 X 0 0 0 Tyson J Lynch Trustee 1.0 0.0 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 Velda McRae-Yates Trustee 1.0 0.0 X 0 0 0 Mags Harries Trustee 1.0 0.0 X 0 0 0 Oliver Parker Trustee 1.0 0.0 X 0 0 0 455537 0 49491 2 false true false SYNTEGRA SERVICES LLC 116 Robbins St WALTHAM MA 02453 facilities mgmt 346885 ALLIED UNIVERSAL SECURITY SERVICES 580 HARRISON AVENUE BOSTON MA 02118 SECURITY 211249 2 138745 420678 2019990 15008 2579413 UNDERGRADUATE TUITION 611710 8652191 8652191 STUDENT HOUSING 611710 2187648 2187648 STUDENT FEES 611710 515166 515166 CONTINUING EDUCATION 611710 280896 280896 STUDENT ART SUPPLIES 611710 55080 55080 11690981 117990 117990 0 0 598000 300642 297358 0 297358 297358 928153 340429 587724 587724 587724 94853 138745 125353 -30500 -30500 0 0 0 0 0 0 MISCELLANEOUS 611710 112415 112415 112415 15355381 11803396 0 972572 0 4459670 4459670 0 0 555624 387560 158045 10019 0 4741070 3344819 1316091 80160 48304 29311 17505 1488 717346 435274 259964 22108 362197 219776 131259 11162 0 55156 55156 65689 65689 0 0 3750 3750 571733 124827 366308 80598 171513 119975 27445 24093 387411 223665 162981 765 17730 17730 0 1526599 689273 837326 467839 413453 54386 0 0 220553 163116 57437 0 600715 472185 128530 240159 111359 128800 SECURITY 225193 225193 MAINTENANCE 173895 173895 MISCELLANEOUS EXPENSES 90606 85311 5295 BAD DEBT 74973 74973 99868 10486 89382 15877593 11463955 4183245 230393 X 684964 1157688 0 0 48792 35732 157725 93310 0 0 0 0 0 0 0 0 274174 177229 19173524 9402869 10554093 9770655 2930044 2280061 0 0 0 0 0 0 5202832 5187257 19852624 18701932 648481 543964 0 0 621934 549406 4499704 3419343 0 0 0 0 1435324 1360275 0 0 4975421 5441437 12180864 11314425 X 4590779 3757444 3080981 3630063 7671760 7387507 19852624 18701932 -522212 237959 X X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X TEACHING true 3114724 80961 322667 735832 2782520 3510374 122400 474412 992462 3114724 2858176 265111 387087 3510374 3079804 326497 -548125 2858176 1367922 1043804 668078 3079804 0.00350 0.99650 0.00000 true false 1090046 1090046 14236135 6496596 7739538 485263 316699 168564 1860280 1619188 241092 1501800 970385 531415 9770655 DEBT SERVICE RESERVE 250000 RIGHT OF USE ASSET 4937257 5187257 0 STUDENT HOUSING DEPOSITS 50530 LEASE LIABILITIES - OPERATING 5140907 LINE OF CREDIT 250000 5441437 X 11259023 237959 125353 363312 10895711 4459670 4459670 15355381 11543276 125353 125353 11417923 4459670 4459670 15877593 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. PARTS XI & XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING $125,353. PARTS XI & XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS $4,459,670. 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 JAPAN PROG. 101029 East Asia and the Pacific 0 0 Program Services ART EDUC. JAPAN PROG. 33678 Europe (Including Iceland and Greenland) 0 0 Program Services UNDERGRAD MALLORCA PRO 34349 0 0 0 0 169056 169056 false false false false false false Artrageous 221083 135985 85098 12609 42086 4530 56678 Anonymous Art 12515 2760 9755 6556 2894 0 233598 138745 94853 12609 48642 4530 59572 125353 -30500 true Need Based Scholarships 48 76374 Merit Based Scholarships 233 4311143 OTHER GRANTS 11 5278 Housing Grants 23 51375 Open House Awards 13 15500 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 240733 0 0 0 0 0 4977 0 15165 0 260875 0 0 0 Lisa Shawney CFO 146584 0 0 0 0 0 3119 0 17009 0 166712 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 1486340 0 3595000 0 0 0 34420 0 0 3560580 0 0 2020 false false false false B 273481 0 1645000 0 0 0 26416 0 0 1618585 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 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 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.