2020-07-09T14:50:51-05:00 2019-06-30 390758449 WIPFLI LLP 30 LONG CREEK DRIVE SOUTH PORTLAND ME 041062437 990 2018-07-01 010378758 MAINE COLLEGE OF ART MAIN 2076995045 522 CONGRESS STREET PORTLAND ME 04101 ELIZABETH ELICKER EXECUTIVE VP 2076995045 2020-07-09 1 PATRICK NICHOLAS CPA P00289567 2077745701 2020-07-09 66.186.191.122 2020-07-09 14:15:58 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 7F98EB4F2D029755EFAB642DB1402872489D0E75 2018 2020-09-23 17:36:50Z ELIZABETH ELICKER 522 CONGRESS STREET PORTLAND ME 04101 22707592 0 X WWW.MECA.EDU X 1882 ME THE COLLEGE'S MISSION IS TO PROVIDE EDUCATION IN FINE ARTS 17 17 460 21 0 0 1560251 2374962 20328451 19644169 203123 204672 97512 116046 22189337 22339849 7088118 6733533 0 0 7716923 8072863 0 0 319684 7093002 6926490 21898043 21732886 291294 606963 30768389 32290550 8259422 9281878 22508967 23008672 THE COLLEGE'S MISSION IS TO PROVIDE EDUCATION IN FINE ARTS 0 0 16472694 6733533 19644169 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. 16472694 1 1 0 0 0 0 0 1 0 1 1 0 0 0 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 1 170 0 1 460 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 17 17 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 ARI B SOLOTOFF DIRECTOR 2.00 X 0 0 0 CYNTHIA THOMPSON DIRECTOR 2.00 X 0 0 0 DAN BAILIN DIRECTOR 2.00 X 0 0 0 DANIEL N CREWE DIRECTOR 2.00 X 0 0 0 DANIEL POTEET DIRECTOR 2.00 X 0 0 0 DEBORAH H DLUHY DIRECTOR 2.00 X 0 0 0 DEBORAH SPRING REED DIRECTOR 2.00 X 0 0 0 EDWARD FRIEDMAN DIRECTOR 2.00 X 0 0 0 JENNY SCHEU DIRECTOR 2.00 X 0 0 0 MARGARET CRANE MORFIT DIRECTOR 2.00 X 0 0 0 MEREDITH KOERNER DIRECTOR 2.00 X 0 0 0 PAULA ZEITLIN DIRECTOR 2.00 X 0 0 0 SUE ROGERS DIRECTOR 2.00 X 0 0 0 SUSAN SCHRAFT DIRECTOR 2.00 X 0 0 0 THOMAS DWYER DIRECTOR 2.00 X 0 0 0 ELIZABETH ELICKER EXEC VP 40.00 X 163942 0 18894 IAN ANDERSON VP ACADEMIC & DEAN 40.00 X 130592 0 19724 LAURA FREID PRESIDENT 40.00 X 301211 0 56430 595745 0 95048 3 0 1 0 FIRST PROTECTION SERVICES INC PO BOX 7209 SCARBOROUGH ME 04070 SECURITY 158215 JENZABAR PO BOX 55018 BOSTON MA 02205 SOFTWARE & SUPPORT 106544 2 22000 248029 2104933 352492 2374962 TUITION AND FEES 611600 16471302 16471302 AUXILARY INCOME 611600 3172867 3172867 19644169 182289 182289 50365 69334 -18969 -18969 -18969 301131 278748 22383 22383 22383 90073 22000 19661 70412 70412 MISC INCOME 611600 73997 73997 OTHER LOSS 611600 -9394 -9394 64603 22339849 19644169 0 320718 6733533 6733533 658245 595745 62500 5987094 4571230 1322932 92932 230062 158256 66425 5381 728439 501082 210319 17038 469023 322634 135419 10970 22280 22280 165211 165211 248084 81293 133433 33358 51651 5341 42716 3594 325378 176816 134709 13853 321645 231739 89906 239132 82682 155038 1412 10309 10309 184778 58588 126190 1097586 427567 670019 300552 201560 98992 DORM 1673042 1673042 MAINTENANCE & SERVICES 688546 406246 268185 14115 UTILITIES 474562 203626 257389 13547 MISCELLANEOUS EXP 285991 49551 187423 49017 837743 587908 247868 1967 21732886 16472694 4940508 319684 1922361 1050993 1302765 1692652 450102 710618 661551 672460 347631 436518 32085097 13347506 17604484 18737591 8113222 8637230 366273 352488 30768389 32290550 1033009 1656836 1065085 1135500 5549547 5225242 82823 62132 528958 1202168 8259422 9281878 X 11976407 11393154 2813180 3408357 7719380 8207161 22508967 23008672 30768389 32290550 X 606963 275952 -383210 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 8113222 480622 322237 278851 8637230 7432958 547995 392510 260241 8113222 6574472 351803 746237 239554 7432958 6484069 198650 141404 249651 6574472 6418974 225452 39393 199750 6484069 0.01000 0.99000 0.00000 0 0 513333 513333 187881 27802843 10618701 17372023 3581040 2728805 852235 18737591 DUE TO FEDERAL GOVT - PERKINS LOAN FUND 526268 GIFT ANNUITIES PAYABLE 11900 INTEREST RATE SWAP LIABILITY 314000 LINES OF CREDIT 350000 1202168 15588053 275952 -294215 -18263 15606316 6733533 6733533 22339849 15088348 88995 88995 14999353 6733533 6733533 21732886 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, 2019. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSE 19,661. RENTAL EXPENSES 69,334. GAIN ON INTEREST RATE SWAP -326,000. LOSS ON PERKINS WIND-DOWN -57,210. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID/SCHOLARSHIPS 6,733,533. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSE 19,661. RENTAL EXPENSES 69,334. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID/SCHOLARSHIPS 6,733,533. 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 70213 70213 8426 FASHION SHOW 41860 22000 19860 11235 112073 22000 90073 19661 19661 70412 1 SPECIFIC ASSISTANCE -SEOG 160 126736 SCHOLARSHIPS & ASSISTANCE 467 6606797 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 ELIZABETH ELICKER EXEC VP 163942 0 0 0 0 0 9837 0 9057 0 182836 0 0 0 IAN ANDERSON VP ACADEMIC & DEAN 130592 0 0 0 0 0 6530 0 13194 0 150316 0 0 0 LAURA FREID PRESIDENT 301211 0 0 0 0 0 42500 0 13930 0 357641 0 0 0 A MHHEFA SERIES 2010B 010314384 560427JA5 2010-06-24 113477369 REFUND MHHEFA SERIES 1998B ISSUED 7/9/98 0 0 1 B MHHEFA SERIES 2011MCA 010314384 2011-11-04 3300000 PURCHASE RESIDENCE HALL 0 0 0 C MHHEFA SERIES 2016A 010314384 56042REW8 2016-06-28 73764920 REFUNDED MHHEFA SERIES 2006F BONDS ISSUED 9/7/06 0 0 1 D MHHEFA SERIES 2018 MCA 010314384 NONEAVAIL 2018-09-26 2850000 NEW MONEY 0 0 0 A 3072932 301756 38018 3140920 2010 1 0 1 1 B 3300000 3300000 2011 0 0 1 1 C 1859472 137850 22747 1937955 2016 1 0 1 1 D 186960 59458 127502 0 0 0 1 A 0 0 0 0 0 0 0 A 0 0 0 1 0 0 0 0 0 B 0 0 0 1 0 0 0 0 0 C 0 1 0 0 0 0 0 0 0 D 0 1 0 0 1 0 0 0 0 A 0 B 0 C 0 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: MHHEFA SERIES 2010B DATE THE REBATE COMPUTATION WAS PERFORMED: 08/21/2015 ISSUER NAME: MHHEFA SERIES 2011MCA DATE THE REBATE COMPUTATION WAS PERFORMED: 05/07/2018 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 IS WORKING TO DEVELOP AND ESTABLISH ITS OWN WRITTEN PROCEDURES. X 106 70213 NET SALES PRICE X 19860 NET SALES PRICE X 14 262419 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 -326,000. LOSS ON PERKINS WIND-DOWN -57,210.