2020-04-13T18:04:10-05:00 2019-05-31 KPMG LLP 8350 Broad Street Suite 900 McLean VA 22102 990 2018-06-01 520591661 MARYLAND INSTITUTE % DOUGLAS MANN MARY 4102252352 1300 Mount Royal Avenue Baltimore MD 21217 DOUGLAS MANN VP & CF0 4102252352 2020-04-11 true JG White P01498698 7032868000 2020-04-09 167.68.102.5 54028020201045000060 2020-04-13 P EB2737A96B8F377BD085BED9F3BA68158C374A96 C48FCDF2455541838D8EE1295B79EA4EB344D0C4 2018 2021-01-29 14:40:06Z MARYLAND INSTITUTE COLLEGE OF ART SAMUEL HOI 1300 Mount Royal Avenue Baltimore MD 21217 227219126 false X WWW.MICA.EDU X 1826 MD DEGREE GRANTING COLLEGE-MARYLAND INSTITUTE COLLEGE OF ART IS A college of art is a private college dedicated to the education of professional artists & the further development of art in the community 31 30 2099 50 82586 10446 10926185 9486785 110005604 115777870 7917950 753047 400126 431262 129249865 126448964 32768986 34799372 0 0 49326546 51578389 45837 35685 1917641 35307802 36256141 117449171 122669587 11800694 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TRUSTEE 1.0 0.0 X 0 0 0 RONALD E FIDLER TRUSTEE 1.0 0.0 X 0 0 0 ROSS JONES TRUSTEE 1.0 0.0 X 0 0 0 SHARON BUTLER BEGIN 102018 TRUSTEE 1.0 0.0 X 0 0 0 SHEILA K RIGGS TRUSTEE 1.0 0.0 X 0 0 0 STUART CLARKE TRUSTEE 1.0 0.0 X 0 0 0 THIBAULT MANEKIN TRUSTEE 1.0 0.0 X 0 0 0 WENDY JACHMAN TRUSTEE 1.0 0.0 X 0 0 0 WONHONG CHO TRUSTEE 1.0 0.0 X 0 0 0 THERESA L BEDOYA VP ADMIS AND FINANCIAL AID 40.0 0.0 X 244109 0 35634 DAVID BOGEN VP ACADEMIC AFFAIRS & PROVOST 40.0 0.0 X 302799 0 33049 ALEXANDRA KIM VP TECHNOLOGY 40.0 0.0 X 226371 0 34444 DOUGLAS R MANN VP FINANCE & OPERATIONS 40.0 1.0 X 349661 0 35687 SHERI L PARKS VP STRATEGIC INIT 40.0 0.0 X 93787 0 13928 MICHAEL PATTERSON VP STUDENT AFFAIRS 40.0 0.0 X 169503 0 32895 DEBRA RUBINO VP STRATEGIC COMMUNICATION 40.0 0.0 X 188553 0 25245 DONALD JONES VP ADVANCEMENT 40.0 0.0 X 140766 0 11278 SAMUEL HOI PRESIDENT 40.0 1.0 X 606312 0 35074 SUSAN KEATHLEY VICE PROVOST-RSRCH & GRAD 40.0 0.0 X 177666 0 24779 DAVID GRACYALNY VICE PROVOST-OPEN STUDIES 40.0 0.0 X 153397 0 24466 MICHAEL WEISS ASSOCIATE DEAN-FINE ARTS 40.0 0.0 X 147174 0 27479 MICHAEL WEIKERT DIR OF CTR FOR DESIGN PRACTICE 40.0 0.0 X 141141 0 27294 STACEY SALAZAR ASSOC DEAN GRAD STUDIES 40.0 0.0 X 128566 0 19701 TERRA SCHEHR AVP EDUC PLAN & DEVELOP 40.0 0.0 X 132996 0 12721 TIMOTHY DRUCKERY FACULTY, FT- PHOTO & ELECTRON 40.0 0.0 X 127799 0 8753 MICHAEL R MOLLA FORMER VP STRATEGIC INIT 0.0 0.0 X 119093 0 4636 3449693 0 407063 40 true true false PARKHURST DINING SERVICES PO BOX 644091 PITTSBURGH PA 152644091 FOOD SERVICE 2695474 SHRUM'S CONSTRUCTION LLC 1021 STEWART LANE GLEN BURNIE MD 21060 CONSTRUCTION 1044490 WRIGHT'S CONSTRUCTION COMPANY INC 4822 WILLISTON STREET BATIMORE MD 21229 CONSTRUCTION 603576 CROSS COUNTRY CONSULTING 1600 TYSONS BLVD SUITE 1100 MCLEAN VA 22102 CONSULTING 1032795 WORKDAY INC 6110 STONERIDGE MALL ROAD PLEASANTON CA 94588 MANAGEMENT 434025 38 3722327 5764458 232500 9486785 TUITION & FEES 611710 100933489 100933489 DORMITORIES 611710 10350768 10350768 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false 2000 false false SCHEDULE C, PART II-B, LINE 1G, COLUMN (B) THE AMOUNT REPORTED ON LINE 1G IS AN ESTIMATED AMOUNT. THE TOTAL AMOUNT IS DE MINIMIS. 232500 2333352 X false 90780041 5588434 -964758 1286150 3001016 67596 91048955 86140551 1635681 7208117 1188613 2910054 105641 90780041 79047507 1799210 9385321 1147078 2808364 136045 86140551 85217842 2128214 -4294721 1170605 2731412 101811 79047507 80808051 7579812 640796 1103660 2575206 131951 85217842 0.33620 0.57740 0.08640 false false 0 2930679 2930679 0 200239079 63838637 136400442 0 3993683 1376708 2616975 0 42171292 34721055 8450237 0 4889779 525676 4364103 154762436 HEDGE FUNDS 16479552 F 16479552 0 REFUNDABLE ADVANCES FROM US GO 2131961 LIABILITY TRUST AGREEMENTS 112867 2244828 X 91951635 -383073 323437 -59636 92011271 34437693 34437693 126448964 88591131 35800 323437 359237 88231894 34437693 34437693 122669587 SCH D-PART III, LINE 4 THE COLLEGE'S DONATED ARTWORK IS MAINTAINED BY THE COLLEGE AND IS USED TO EDUCATE STUDENTS IN FINE ARTS, APPLIED ARTS AND ART EDUCATION. SCH D-PART V, LINE 4 THE COLLEGE'S ENDOWMENT FUNDS ARE AN IMPORTANT SOURCE OF REVENUE WHICH SUPPORT SCHOLARSHIPS, GRANTS, SPECIALIZED PROGRAMS, AND GENERAL OPERATIONS OF THE COLLEGE. SCH D-PART X, LINE 2 AS AN EDUCATIONAL INSTITUTION MEETING THE REQUIREMENTS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, THE COLLEGE IS EXEMPT FROM INCOME TAXES ON INCOME RELATED TO ITS EXEMPT PURPOSE AS PROVIDED IN SECTION 501(a), EXCEPT TO THE EXTENT IT HAS TAXABLE INCOME FROM ACTIVITIES THAT ARE NOT RELATED TO ITS EXEMPT PURPOSE. THE COLLEGE REVIEWS ITS TAX POSITION ANNUALLY AND HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE WITH CONSOLIDATED FINANCIAL STATEMENTS. NO PROVISION FOR INCOME TAXES WERE REQUIRED FOR 2019 OR 2018. SCH D-PART XI, LINE 2D PART XI, LINE 2D OTHER CONSISTS OF ANNUITY BENEFITS PAID $194,481 AND RENTAL EXPENSES $128,956. SCH D-PART XI, LINE 4B PART XI, LINE 4B CONSISTS OF FINANCIAL AID OF $34,437,693. SCH D-PART XII, LINE 2D PART XII, LINE 2D CONSISTS OF ANNUITY BENEFITS PAID $194,481 AND RENTAL EXPENSES $128,956. SCH D-PART XII, LINE 4B PART XII, LINE 4B CONSISTS OF FINANCIAL AID OF $34,437,693. true true true true true true true false false false false false false false false true false true SCH E EXPLANATION-LINE 3 SCHEDULE E, LINE 3 MICA DISPLAYS A NOTICE OF ITS RACIALLY NONDISCRIMINATORY POLICY ON ITS PRIMARY PUBLICLY ACCESIBLE INTERNET HOMEPAGE. IN ADDITION, BECAUSE MICA DRAWS A SUBSTANTIAL PERCENTAGE OF ITS STUDENTS BOTH NATIONWIDE AND INTERNATIONALLY, THE PUBLICITY REQUIREMENT IS SATISFIED BY INCLUDING A STATEMENT OF ITS RACIALLY NONDISCRIMINATORY POLICY IN ALL ITS BROCHURES AND CATALOGS DEALING WITH STUDENT ADMISSIONS, PROGRAMS, AND SCHOLARSHIPS. THE FOLLOWING STATEMENTS APPEAR ON THE COLLEGE'S WEBSITE AND IN THE COLLEGE'S CATALOG: NOTICE OF NONDISCRIMINATION IN EDUCATION AND EMPLOYMENT THE MARYLAND INSTITUTE COLLEGE OF ART DOES NOT DISCRIMINATE AGAINST ANY INDIVIDUAL FOR REASONS OF RACE, COLOR, RELIGION, NATIONAL ORIGIN, AGE, SEX, OR HANDICAP IN ANY RELATIONSHIP WITH THE INSTITUTION OR IN ANY OF ITS PROGRAMS OR OFFERINGS, HIRING OF FACULTY AND STAFF, OR ANY TERMS AND CONDITIONS OF EMPLOYMENT. INQUIRIES CONCERNING THE APPLICATION OF THESE REGULATIONS MAY BE REFERRED TO THE AFFIRMATIVE ACTION OFFICER. THE COLLEGE RESERVES THE RIGHT IN ITS DISCRETION TO MAKE FROM TIME TO TIME CHANGES AFFECTING POLICIES, FEES, CURRICULA, OR OTHER MATTERS ANNOUNCED IN THIS CATALOG. THE STATEMENTS IN THIS CATALOG DO NOT CONSTITUTE A CONTRACT. STATEMENT OF EQUAL OPPORTUNITY AND SERVICES TO THE DISABLED IN COMPLIANCE WITH FEDERAL, STATE AND LOCAL LAWS AND REGULATIONS, THE MARYLAND INSTITUTE COLLEGE OF ART DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, NATIONAL ORIGIN, SEX, SEXUALORIENTATION, MARITAL STATUS, AGE, DISABILITY, AND APPLICABLE VETERAN STATUS, IN THE ADMINISTRATION OF ITS EDUCATIONAL PROGRAMS ACTIVITIES, OR WITH RESPECT TO EMPLOYMENT. IT IS POLICY OF THE MARYLAND INSTITUTE TO PROVIDE THOSE AUXILIARY AIDS AND SERVICES THAT MAY BE NECESSARY TO ENSURE THAT NO INDIVIDUAL WITH A DISABILITY IS EXCLUDED, DENIED SERVICES, SEGREGATED, OR OTHERWISE TREATED DIFFERENTLY THAN OTHER INDIVIDUALS. THESE SERVICES CAN BE ARRANGED THROUGH THE DEAN OF STUDENTS. THESE POLICIES APPLY TO PRESENT AND PROSPECTIVE STUDENTS AND EMPLOYEES. PRESENT OR PROSPECTIVE STUDENTS DESIRING FURTHER INFORMATION SHOULD CONTACT THE OFFICE OF THE DEAN OF THE PROGRAM IN WHICH THEY ARE INTERESTED: UNDERGRADUATE: 410-225-2222 GRADUATE: 410-225-2255 CONTINUING STUDIES: 410-225-2219 PRESENT OR PROSPECTIVE EMPLOYEES SHOULD CONTACT THE DIRECTOR OF ADMINISTRATIVE SERVICES: 410-225-2406 SCHEDULE E, LINE 6A FUNDS PROVIDED BY THE U.S. GOVERNMENT UNDER THE FEDERAL PERKINS LOAN PROGRAM ARE LOANED TO QUALIFIED STUDENTS. FEDERAL STUDENT FINANCIAL AID PROGRAMS (INCLUDING PERKINS OR GUARANTEED LOAN PROGRAMS,GRANT AND WORK-STUDY PROGRAMS)FUNDED APPROXIMATELY 22% OF TUITION AND ROOM AND BOARD REVENUES IN FY2019. true East Asia and the Pacific 1 Program Services STUDY ABROAD -436 Central America and the Caribbean 2 Program Services STUDY ABROAD 500 North America Grantmaking 217670 Sub-Saharan Africa Grantmaking 48000 Europe (Including Iceland and Greenland) 10 Program Services STUDY ABROAD 128536 Sub-Saharan Africa 2 Program Services STUDY ABROAD 42480 Central America and the Caribbean 4 Investments 13157112 Central America and the Caribbean Grantmaking 58500 Europe (Including Iceland and Greenland) Grantmaking 291210 Middle East and North Africa Grantmaking 103681 Russia and the Newly Independent States Grantmaking 60650 South America Grantmaking 136230 South Asia Grantmaking 450260 East Asia and the Pacific Grantmaking 5896764 19 19 26487921 26487921 EDUCATIONAL Central America and the Caribbean 4 58500 TUITION DISC FMV EDUCATIONAL East Asia and the Pacific 445 5896764 TUITION DISC FMV EDUCATIONAL Europe (Including Iceland and Greenland) 17 291210 TUITION DISC FMV EDUCATIONAL Middle East and North Africa 5 103681 TUITION DISC FMV EDUCATIONAL North America 17 217670 TUITION DISC FMV EDUCATIONAL Russia and the Newly Independent States 3 60650 TUITION DISC FMV EDUCATIONAL South America 8 136230 TUITION DISC FMV EDUCATIONAL South Asia 23 450260 TUITION DISC FMV EDUCATIONAL Sub-Saharan Africa 2 48000 TUITION DISC FMV true false true true true false Schedule F, Part I, Line 2 STUDENT FINANCIAL AID FOR FINANCIAL AID GRANTS/SCHOLARSHIPS, THE COLLEGE AWARDS THESE TO STUDENTS EACH SEMESTER BASED ON SEVERAL FACTORS. THE AWARDS ARE APPLIED DIRECTLY TO THE STUDENT'S ACCOUNT BALANCE FOR TUITION. THE AWARDS ARE ACCOUNTED FOR ON THE ACCRUAL METHOD. THE INVESTMENTS ARE SHOWN AT FAIR VALUE AS OF THE END OF THE FISCAL YEAR. THE PROGRAM SERVICE EXPENSES ARE ACCOUNTED FOR ON THE ACCRUAL METHOD. X X X X X X true PG Calc Inc GIVING CONSULT false 920 EVER TURE INC GIVING CONSULT false 25571 Law Office of Jonathan Acker GIVING CONSULT false 870 Adler Display GIVING CONSULT false 3149 Kelly E McGeehan GIVING CONSULT false 5175 35685 MD true COMPETITIVE SCHOLARSHIPS 1583 18987940 FMV TUITION DISCOUNT UNDERGRADUATE MI GRANTS 824 3111135 FMV TUITION DISCOUNT GRADUATE SCHOLARSHIPS 388 2920471 FMV TUITION DISCOUNT RESTRICTED SCHOLARSHIPS & AWARDS 467 1691311 FMV TUITION DISCOUNT SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT 188 177000 FMV TUITION DISCOUNT CONTINUING STUDIES SCHOLARSHIP 90 88898 FMV TUITION DISCOUNT DEPARTMENTAL SCHOLARSHIP 135 105875 FMV TUITION DISCOUNT LUCAS SCHOLARSHIP 33 90030 FMV TUITION DISCOUNT FACULTY DEVELOPMENT GRANT 68 147573 FMV TUITION DISCOUNT CONTINUING STUDIES DISCOUNTS 17 2068 FMV TUITION DISCOUNT fellowships & awards 156 140606 Entrepreneurship grants 10 73500 SCHEDULE I, PART I, LINE 2 FOR FINANCIAL AID GRANTS/SCHOLARSHIPS, THE COLLEGE AWARDS THESE TO STUDENTS EACH SEMESTER BASED ON SEVERAL FACTORS. THE AWARDS ARE APPLIED DIRECTLY TO THE STUDENT'S ACCOUNT BALANCE FOR TUITION. FOR FACULTY DEVELOPMENT GRANTS, THE COLLEGE COLLECTS A DETAILED ACCOUNTING OF ALL GRANT RELATED EXPENDITURES ALONG WITH ALL CORRESPONDING RECEIPTS. ALL EXPENDITURES ARE REVIEWED TO ENSURE THAT THEY ARE RELATED TO THE GRANT AND THERE IS PROPER DOCUMENTATION. THE GRANT RECIPIENT ALSO SUBMITS A REPORT TO ACADEMIC AFFAIRS SUMMARIZING THEIR EXPERIENCE. ENTREPRENEURSHIP GRANTS ARE AWARDED TO STUDENTS, GRADUATES AND ALUMNI WHO ARE LAUNCHING OR GROWING BUSINESSES IN BALTIMORE. A PANEL OF JUDGES DETERMINES THE AWARDEES BASED UPON SEVERAL FACTORS. ALL GRANTS ARE MONITORED THROUGH PROGRESS REPORTING WHICH INCLUDE DESCRIPTIONS OF GRANT SUPPORTED ACTIVITIES THAT HAVE BEEN UNDERTAKEN SINCE THE GRANT PERIOD START DATE. THE GRANTEE ALSO SUBMITS A FINAL REPORT DESCRIBING BUSINESS ACTIVITY INCLUDING: LOCATION AND STATUS OF BUSINESS, JOBS CREATED OR LOST,CLIENT LIST AND LOCATIONS, STRATEGIC ADVISER LIST AND PAIN POINTS FOR ANY ADDITIONAL SUPPORT NEEDED. X X X X false false false false false false false false false THERESA L BEDOYA VP ADMIS AND FINANCIAL AID 244109 19925 15709 279743 0 DAVID BOGEN VP ACADEMIC AFFAIRS & PROVOST 302799 23850 9199 335848 0 ALEXANDRA KIM VP TECHNOLOGY 226371 19973 14471 260815 0 DOUGLAS R MANN VP FINANCE & OPERATIONS 349661 23850 11837 385348 0 MICHAEL R MOLLA FORMER VP STRATEGIC INIT 119093 0 4636 123729 0 MICHAEL PATTERSON VP STUDENT AFFAIRS 169503 16020 16875 202398 0 DEBRA RUBINO VP STRATEGIC COMMUNICATION 188553 10719 14526 213798 0 DONALD JONES VP ADVANCEMENT 140766 6558 4720 152044 0 SUSAN KEATHLEY VICE PROVOST-RSRCH & GRAD 177666 16020 8759 202445 0 DAVID GRACYALNY VICE PROVOST-OPEN STUDIES 153397 14165 10301 177863 0 MICHAEL WEISS ASSOCIATE DEAN-FINE ARTS 147174 14003 13476 174653 0 MICHAEL WEIKERT DIR OF CTR FOR DESIGN PRACTICE 141141 11146 16148 168435 0 SAMUEL HOI PRESIDENT 606312 23850 11224 641386 0 A MHHEFA BONDS SERIES 2012 520936091 5742168D2 2012-10-10 37371463 SEE PART VI false false false B MHHEFA BONDS SERIES 2016 520936091 574218F32 2016-10-06 40942422 SEE PART VI false false false C MHHEFA BONDS SERIES 2017 520936091 574218K36 2017-03-07 19920236 SEE PART VI false false false A 3375000 0 37371463 0 913803 13325756 128622 0 0 23010321 0 0 2013 true false true true B 205000 0 40942422 0 0 0 441592 0 0 0 40500830 0 2017 true true true true C 235000 0 19920236 0 0 0 221370 0 0 0 19698866 0 2017 true false true true A false false false false 0 false false true B false false false false 0 false false true C false false false false 0 false false true A false true false false 0 false false false 0 false true B false true false false false false 0 false false false 0 false true C false true false false false false 0 false false false 0 false true A true B true C true SCH K, PART I LINE C (2012) PURPOSE OF 2012 BOND ISSUE REFUNDING OF 07/22/1998 BOND ISSUE, AND ADDITIONAL FUNDS FOR CONSTRUCTION OF RESIDENCE HALL AND FOR RENOVATION OF FACILITIES ON CAMPUS. SCH K, PART I LINE C (2016) PURPOSE OF 2016 BOND ISSUE REFUNDING OF 2006 & 2007 BOND ISSUES SCH K, PART I LINE C (2017) PURPOSE OF 2017 BOND ISSUE REFUNDING OF 2007 BOND ISSUE SCH K, PART III, LINE 3A (2012, 2016, 2017) ALL MANAGEMENT CONTRACTS AND SERVICE AGREEMENTS EITHER FALL UNDER THE SAFE HARBOR PROVIDED OR INCIDENTAL EXCEPTION; THEREFORE DO NOT CONSTITUTE PRIVATE BUSINESS USE.PRIVATE BUSINESS USE. SCH K, PART IV, LINE 2C (2012) THE LAST REBATE CALCULATION FOR THE 2012 BOND ISSUE WAS COMPLETED ON JUNE 1, 2017. Ayers Saint Gross 35% CONTROLLED ENTITY OF TRUSTEE'S SPOUSE 137309 Professional Services false X 80 232500 Appraisal X ART SUPPLIES 10 0 0 X EQUIPMENT 2 0 0 false true false Schedule M, Part I, Line 33 THE COLLEGE DOES NOT RECORD CONTRIBUTIONS OF IN-KIND PROPERTY IN THE ACCOUNTING RECORDS UNLESS IT IS AN ITEM OF CONSIDERABLE VALUE. (THE COLLEGE CONSIDERS THIS TO BE ANYTHING OVER $20,000). FORM 990, PART VI, LINES 6 AND 7A MICA HAS MEMBERS AND THEY ARE THE SAME AS THE TRUSTEES. ACCORDING TO IRS INSTRUCTIONS, THESE QUESTIONS SHOULD NOT BE ANSWERED YES, IF THE MEMBERS ARE THE SAME AS THE TRUSTEES. THEREFORE, BOTH QUESTIONS 6 AND 7A HAVE BEEN ANSWERED NO. FORM 990, PART VI, SECTION B, LINE 11B AN ELECTRONIC COPY OF THE ORGANIZATION'S FORM 990 (INCLUDING ALL SCHEDULES), WAS PROVIDED TO EACH VOTING MEMBER OF THE ORGANIZATION'S GOVERNING BODY PRIOR TO ITS FILING WITH THE IRS. THE ORGANIZATION'S OFFICERS AND FULL BOARD OF TRUSTEES PERFORMED A HIGH-LEVEL REVIEW OF THE PREPARED FORM 990 PRIOR TO FILING IT WITH THE IRS. A MORE IN-DEPTH REVIEW WAS PERFORMED BY THE BOARD FINANCE COMMITTEE, WHICH IS COMPRISED OF TRUSTEES AND OFFICERS. FORM 990, PART VI, SECTION B, LINES 12A, 12B AND 12C EACH TRUSTEE AND OFFICER ANNUALLY SIGNS A STATEMENT THAT AFFIRMS SUCH PERSON HAS RECEIVED AND CAREFULLY READ THE CONFLICT OF INTEREST POLICY, UNDERSTANDS AND AGREES TO COMPLY WITH THE POLICY, AND FURTHER UNDERSTANDS THAT THE COLLEGE IS A CHARITABLE ORGANIZATION AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION, IT MUST ENGAGE PRIMARILY IN ACTIVITIES THAT ACCOMPLISH ONE OR MORE OF ITS TAX EXEMPT PURPOSES. TRUSTEES AND OFFICERS ARE COVERED UNDER THE CONFLICT OF INTEREST POLICY. TRUSTEES OR OFFICERS WHO HAVE DECLARED OR HAVE BEEN FOUND TO HAVE A CONFLICT OF INTEREST SHALL REFRAIN FROM PARTICIPATING IN THE CONSIDERATION OF ANY PROPOSED TRANSACTION, UNLESS FOR SPECIAL REASONS THE BOARD REQUESTS INFORMATION OR INTERPRETATION FROM THE PERSON OR PERSONS INVOLVED, AND SHALL NOT VOTE, OR BE PRESENT AT THE TIME OF VOTING, ON ANY MATTER UNDER CONSIDERATION AT A BOARD OR COMMITTEE MEETING WHICH SUCH TRUSTEE HAS A KNOWN CONFLICT OF INTEREST. THE CHAIRMAN OF THE BOARD, WHO, TOGETHER WITH COUNSEL, SHALL BE RESPONSIBLE FOR ADMINISTRATION OF THIS POLICY. FORM 990, PART VI, SECTION B, LINES 15A AND 15B THE COMPENSATION LEVELS FOR THE PRESIDENT AND VICE PRESIDENTS ARE BASED ON MARKET DATA AT AICAD SCHOOLS AND OTHER LIBERAL ARTS COLLEGES. THE PRESIDENTS COMPENSATION IS REVIEWED BY AN AD HOC COMMITTEE OF THE BOARD CONSISTING OF SEVERAL PAST BOARD CHAIRS AND IS DISCUSSED WITH THE BOARD EXECUTIVE COMMITTEE. COMPENSATION LEVELS FOR THE VICE PRESIDENTS ARE ALSO REVIEWED BY THE BOARD EXECUTIVE COMMITTEE. PERIODICALLY THE COLLEGE ENGAGES AN INDEPENDENT COMPENSATION CONSULTING FIRM TO ASSESS MICAS EXECUTIVE LEVEL SALARIES RELATIVE TO THE MARKET. THE MOST RECENT STUDY WAS DONE IN 2016 AND IT CONCLUDED THAT THE SALARIES OF MICAS PRESIDENT AND VICE PRESIDENTS WERE ALIGNED WITH OTHER COMPARABLE COLLEGES AND UNIVERSITIES. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. MICA GRADUATE STUDIO CENTER INC 1300 MOUNT ROYAL AVE BALTIMORE MD 21217 274939807 SPECIAL RE MD 501(C)(3) 12A MICA true POOLED INCOME FUND (1) ANNUITY MD NONE Trust CHARITABLE REMAINDER TRUSTS (4) ANNUITY MD NONE TRUST false false false true false false false false false false true false false false false false false false false MICA GRADUATE STUDIO CENTER INC d 2584597 COST MICA Graduate Studio Center Inc K 679633 COST