2022-03-17T15:47:47-05:00 2021-06-30 390758449 WIPFLI LLP 30 LONG CREEK DRIVE SOUTH PORTLAND ME 041062437 990 2020-07-01 010378758 MAINE COLLEGE OF ART MAIN 2076995045 522 CONGRESS STREET PORTLAND ME 04101 ELIZABETH ELICKER EXECUTIVE VP 2076995045 2022-03-09 1 ELIZABETH ELICKER 999009999 PATRICK NICHOLAS CPA P00289567 2077745701 2022-03-09 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z ELIZABETH ELICKER 522 CONGRESS STREET PORTLAND ME 04101 27675529 0 X WWW.MECA.EDU X 1882 ME THE COLLEGE'S MISSION IS TO PROVIDE EDUCATION IN FINE ARTS 20 20 377 20 0 0 2228521 6440021 20817500 18871159 241403 633345 91919 74952 23379343 26019477 7216345 6780305 0 0 8327834 8441127 0 0 424036 7477133 7657970 23021312 22879402 358031 3140075 34539272 42166138 11122106 12911101 23417166 29255037 THE COLLEGE'S MISSION IS TO PROVIDE EDUCATION IN FINE ARTS 0 0 16329208 6780305 18871159 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. 16329208 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 1 135 0 1 377 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 20 20 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 DANIEL N CREWE DIRECTOR 2.00 X 0 0 0 DEBORAH H DLUHY DIRECTOR 2.00 X 0 0 0 THOMAS DWYER 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 MEFEDITH KOERNER DIRECTOR 2.00 X 0 0 0 MARGARET CRANE MORFIT DIRECTOR 2.00 X 0 0 0 DANIEL POTEET DIRECTOR 2.00 X 0 0 0 DEBORAH SPRING REED 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 LAURA FREID PRESIDENT 40.00 X 357125 0 28877 ELIZABETH ELICKER EXECUTIVE VP 40.00 X 168696 0 18214 IAN ANDERSON VP ACADEMIC & DEAN 40.00 X 134510 0 20960 ANDR FRANSEN VAN DE PUTTE ENROLLMENT OFFICER 40.00 X 113077 0 12827 773408 0 80878 4 0 1 0 FIRST PROTECTION SERVICES INC PO BOX 7209 SCARBOROUGH ME 04070 SECURITY 197596 JENZABAR INC PO BOX 55018 BOSTON MA 022055018 SOFTWARE & SUPPORT 173845 2 14100 2428607 3997314 3261581 6440021 TUITION AND FEES 611600 15743686 15743686 AUXILIARY INCOME 611600 3127473 3127473 18871159 241566 241566 51989 55093 -3104 -3104 -3104 1956946 1565167 391779 391779 391779 102888 14100 35792 67096 67096 MISC INCOME 611600 68786 68786 OTHER INCOME 611600 -57826 -57826 10960 26019477 18871159 0 708297 6780305 6780305 773408 773408 6087333 4023840 1820992 242501 235054 137860 88886 8308 840966 493228 318013 29725 504366 295812 190727 17827 30780 30780 139975 139975 261533 112204 119463 29866 26439 3109 22716 614 415528 184997 213298 17233 340976 245116 95860 8263 3828 4271 164 16820 16820 230970 95984 134986 1243330 548586 694744 299764 209000 90764 DORM 1835927 1835927 MAINTENANCE & SERVICES 1148484 765772 363576 19136 MISCELLANEOUS EXP 562523 16634 502491 43398 UTILITIES 388271 165528 211606 11137 708387 411478 292782 4127 22879402 16329208 6126158 424036 2388608 2172429 1207323 1216060 576547 138408 382880 267205 420680 457940 31584960 13499165 18933522 18085795 9833954 15412452 795758 4415849 34539272 42166138 1021848 1122779 247254 817090 7191876 6699895 41430 20748 2619698 4250589 11122106 12911101 X 11026361 11188840 12390805 18066197 23417166 29255037 34539272 42166138 X 3140075 2364862 332934 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 9833954 3039143 2998207 458852 15412452 8637230 427755 1137380 368411 9833954 8113222 480622 322237 278851 8637230 7432958 547995 392510 260241 8113222 6574472 351803 746237 239554 7432958 0.01000 0.99000 0.00000 0 0 513333 513333 187881 29185016 12472281 16900616 1698730 1026884 671846 18085795 BOND ESCROW FUNDS 727880 RIGHT-OF-USE ASSETS - OPERATING LEASES 3687969 4415849 DUE TO FEDERAL GOVT - PERKINS LOAN FUND 251374 GIFT ANNUITIES PAYABLE 8500 INTEREST RATE SWAP LIABILITY 265000 LEASE OBLIGATION - OPERATING LEASES 3725715 4250589 21879919 2364862 275885 2640747 19239172 6780305 6780305 26019477 16189982 90885 90885 16099097 6780305 6780305 22879402 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, 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSE 35,792. RENTAL EXPENSES 55,093. GAIN ON INTEREST RATE SWAP 185,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID/SCHOLARSHIPS 6,780,305. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSE 35,792. RENTAL EXPENSES 55,093. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID/SCHOLARSHIPS 6,780,305. 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 70436 70436 10542 FASHION SHOW 19699 12974 6725 5762 2 26853 1126 25727 19488 116988 14100 102888 35792 35792 67096 1 SPECIFIC ASSISTANCE -SEOG 136 106301 SCHOLARSHIPS & ASSISTANCE 455 6674004 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 357125 0 0 0 0 0 14847 0 14030 0 386002 0 0 0 ELIZABETH ELICKER EXECUTIVE VP 168696 0 0 0 0 0 8435 0 9779 0 186910 0 0 0 IAN ANDERSON VP ACADEMIC & DEAN 134510 0 0 0 0 0 6726 0 14234 0 155470 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 179 96163 NET SALES PRICE X 6725 X 8 3158693 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 185,000. CUMULATIVE EFFECT OF A CHANGE IN ACCOUNTING PRINCIPAL 147,934.