2017-04-17T11:41:14-05:00 2016-06-30 203985821 HOWE RILEY & HOWE PLLC 660 CHESTNUT STREET MANCHESTER NH 031043500 990 2015-07-01 020222154 NEW HAMPSHIRE INSTITUTE OF ART NEWH 6036220313 148 CONCORD STREET MANCHESTER NH 03104 LEANNA FLEMING VP-FINANCE 6036220313 2017-03-23 1 LANCE R TURGEON P00627708 6036273838 2015 2021-01-29 14:40:06Z LEANNA FLEMING 148 CONCORD STREET MANCHESTER NH 03104 16992576 0 X WWW.NHIA.EDU X 1898 NH TO EDUCATE, ENGAGE AND EMPOWER THROUGH THE ARTS. 25 21 378 26 0 0 779143 498413 13043434 12283341 417218 575240 -66625 96196 14173170 13453190 2886371 3447902 0 0 6567522 6103195 0 0 462896 7350100 7480582 16803993 17031679 -2630823 -3578489 48992015 43635676 19119974 18901429 29872041 24734247 X TO EDUCATE, ENGAGE, AND EMPOWER THROUGH THE ARTS. 0 0 14176595 3447902 12373881 SINCE 1898 THE NEW HAMPSHIRE INSTITUTE OF ART (NHIA) HAS REMAINED COMMITTED TO ITS MISSION OF EDUCATING, ENGAGING, AND EMPOWERING THROUGH THE ARTS. 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. (CONTINUED ON SCHEDULE O.) THE NEW HAMPSHIRE INSTITUTE OF ART (NHIA) OFFERS BACHELOR OF FINE ARTS (BFA) DEGREE PROGRAMS IN CERAMICS, CREATIVE WRITING, DESIGN, FINE ARTS, ILLUSTRATION AND PHOTOGRAPHY AS WELL AS LOW-RESIDENCY MASTER OF FINE ARTS (MFA) DEGREE PROGRAMS IN CREATIVE WRITING, PHOTOGRAPHY, VISUAL ARTS, AND WRITING FOR STAGE AND SCREEN, A LOW-RESIDENCY MASTER OF ARTS IN ART EDUCATION (MAAE) 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 THE ART EDUCATORS SUMMER RETREAT, PRE-COLLEGE SUMMER PROGRAM, AND CERTIFICATE PROGRAMS. 14176595 1 1 0 0 0 0 0 1 0 1 1 1 0 1 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 1 0 1 0 0 1 0 0 0 0 0 0 0 0 1 195 0 1 378 1 0 0 0 0 0 1 1 0 0 X 25 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NH X X LEANNA FLEMING 6038362512 148 CONCORD STREET MANCHESTER NH 03104 JOE REILLY CHAIRMAN 0.50 X X 0 0 0 ELLIE COCHRAN TRUSTEE 0.50 X 0 0 0 SKIP ASHOOH VICE CHAIRMAN 0.50 X X 0 0 0 BARBARA BICKFORD TRUSTEE 0.50 X 0 0 0 BENJAMIN GAYMAN TRUSTEE 0.50 X 0 0 0 HOWARD BRODSKY TRUSTEE 0.50 X 0 0 0 TOM DOUGHERTY TRUSTEE 0.50 X 0 0 0 JOHN MERCIER TREASURER 0.50 X X 0 0 0 GEORGE FOOTE JR SECRETARY 0.50 X X 0 0 0 PHYLLIS STIBLER TRUSTEE 0.50 X 0 0 0 DAVID MURRAY TRUSTEE 0.50 X 0 0 0 WILLIAM STEVENS TRUSTEE 0.50 X 0 0 0 MAURICE BELIVEAU TRUSTEE 0.50 X 0 0 0 THERESA DOLOFF TRUSTEE 0.50 X 0 0 0 ELLEN DAVIS TRUSTEE 0.50 X 0 0 0 STEVE GEHLBACH TRUSTEE 0.50 X 0 0 0 TERRY HEINZMANN TRUSTEE 0.50 X 0 0 0 NICK BENTLEY TRUSTEE 0.50 X 0 0 0 MONICA BILSON TRUSTEE 37.50 X 73582 0 6982 SUZANNE CANALI TRUSTEE 37.50 X 63235 0 1166 STAN FRY TRUSTEE 0.50 X 0 0 0 ELIZABETH HITCHCOCK TRUSTEE 0.50 X 0 0 0 MAUREEN MILLS TRUSTEE 37.50 X 55933 0 13636 ADRIENNE SILVERSMITH TRUSTEE 0.50 X 0 0 0 TOM STEVENS TRUSTEE 0.50 X 0 0 0 ARTHUR SULLIVAN TREASURER (THROUGH 9/15) 0.00 X X 0 0 0 CHRIS WARD TRUSTEE (FORMER) 0.00 X 0 0 0 TOM STRICKLAND TRUSTEE (FORMER) 0.00 X 0 0 0 KENT DEVEREAUX PRESIDENT 37.50 X 210985 0 17637 LEANNA FLEMING VP-FINANCE & ADMIN. 37.50 X 136124 0 15253 RICK STRAWBRIDGE EXECUTIVE VP, INTERIM PRESIDENT (FORMER) 0.00 X 186973 0 0 726832 0 54674 2 1 1 0 BRADY SULLIVAN 670 N COMMERCIAL STREET 303 MANCHESTER NH 03101 RENTAL & FACILITY BUILD-OUT SERVICES 1091981 CHARTWELLSCOMPASS GROUP 2400 YORKMONT ROAD CHARLOTTE NC 28217 FOOD SERVICES 744398 CARL MARKS ADVISORY GROUP LLC 990 THIRD AVENUE 33RD FLOOR NEW YORK NY 10022 CONSULTING 332819 HUTTER CONSTRUCTION CORP PO BOX 257 NEW IPSWICH NH 03071 SHARON GALLERY REMODEL 232038 GRANITE YMCA 117 MARKET STREET MANCHESTER NH 03101 RENTAL 172338 5 498413 81449 498413 TUITION AND FEES 611710 10222042 10222042 AUXILIARY ENTERPRISES 900099 1981122 1981122 OTHER INCOME 900099 80177 80177 12283341 316848 316848 3661615 3403223 258392 258392 258392 13486 7830 5656 5656 218873 128333 90540 90540 13453190 12373881 0 580896 3447902 3447902 712327 222528 489799 4447361 3767110 420406 259845 557516 454027 83032 20457 385991 299913 73166 12912 38035 38035 46008 46008 101786 101786 703074 199700 440544 62830 180695 171789 65 8841 504978 209695 248810 46473 2284792 2219056 49812 15924 100860 80813 19875 172 22571 12161 9780 630 461382 410431 46894 4057 1660265 1605689 35027 19549 12432 12432 WAIVERS 206436 206436 EQUIPMENT RENTAL 192150 59319 132587 244 HOSPITALITY 149885 130986 11516 7383 MINOR EQUIPMENT 64703 7076 54134 3493 750530 671964 78480 86 17031679 14176595 2392188 462896 1233 13214 414832 348604 438062 303825 345342 109633 54399 60099 167734 149880 32983108 12591934 21112468 20391174 9438420 6081054 14220632 13317980 2798893 2860213 48992015 43635676 834465 756845 429563 165477 13945000 13590000 78762 53769 2589734 2680067 1242450 1655271 19119974 18901429 X 3724021 -1048431 1061996 642343 25086024 25140335 29872041 24734247 48992015 43635676 X -3578489 -1167856 -391449 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 56000 2109479 X X X X 0 0 23581034 -705777 3610000 19265257 25231405 40584 1690955 23581034 23781763 684795 3046956 2282109 25231405 23373438 18907 1538094 1148676 23781763 24474564 7402 44297 1152825 23373438 0.00000 1.00000 0.00000 0 0 271300 271300 475000 23470110 6636585 17308525 2604645 1228051 1376594 3810120 2941922 868198 2351933 1785376 566557 20391174 AEW REAL ESTATE INVESTMENT 2052131 F WEATHERLOW OFFSHORE FUND 2088311 F NYES LEDGE CAPITAL OFFSHORE FUND 1806362 F FORESTER DIVERSIFIED 1845808 F GMO INTERNATIONAL EQUITY ALLOCATION III 405123 F FIDELITY SPARTAN TOTAL MARKET INDEX FUND 2836114 F CITIZENS BANK PRIME MONEY MARKET 2284131 F 13317980 COLLECTIONS 2109479 CONSTRUCTION IN PROGRESS 217003 ASSETS HELD IN CHARITABLE REMAINDER TRUST 121224 DEBT ISSUANCE COSTS 412507 2860213 DEPOSITS 151849 CAPITAL LEASE PAYABLE 132678 MARKET VALUE OF INTEREST RATE SWAP 1370744 1655271 X 8480744 -1167856 -477267 -1645123 10125867 101277 3226046 3327323 13453190 13618538 136163 136163 13482375 101277 3448027 3549304 17031679 PART III, LINE 1A: CONTRIBUTIONS OF WORKS OF ART, HISTORICAL TREASURES, AND OTHER SIMILAR ASSETS CONSIDERED TO BE COLLECTION ITEMS ARE CAPITALIZED AND RECOGNIZED AS REVENUES OR GAINS IN THE PERIOD RECEIVED. THE INSTITUTE'S COLLECTIONS CONSIST OF RARE WORKS OF ART AND OUT OF PRINT BOOKS, REFERENCE MATERIALS, AND PHOTOGRAPHS; THUS, NO PROVISION FOR DEPRECIATION IS MADE THEREON. THE COLLECTIONS ARE MAINTAINED FOR EDUCATIONAL PURPOSES AND ARE TO BE MAINTAINED IN PERPETUITY. AS SUCH, THEY ARE RECORDED IN PERMANENTLY RESTRICTED NET ASSETS. SUBSEQUENT ADDITIONS ACQUIRED BY PURCHASE WILL BE STATED AT COST; ADDITIONS ACQUIRED BY GIFT WILL BE STATED AT THE ESTIMATED FAIR VALUE AT THE DATE OF DONATION. THE TOTAL CARRYING VALUE OF THE COLLECTIONS WAS $2,109,479. PART V, LINE 4: THE INSTITUTE'S ENDOWMENTS CONSIST OF FUNDS ESTABLISHED FOR THE BENEFIT OF THE INSTITUTE, WITH VARIOUS SPECIFIC PURPOSES. IN ADDITION, THE INSTITUTE HAS BOARD DESIGNATED ENDOWMENT FUNDS WHICH ARE NOT SUBJECT TO UPMIFA. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. PART X, LINE 2: THE INSTITUTE IS A NONPROFIT CORPORATION EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C) (3) OF THE INTERNAL REVENUE CODE. THE INTERNAL REVENUE SERVICE HAS DETERMINED THE INSTITUTE TO BE OTHER THAN A PRIVATE FOUNDATION. THE INSTITUTE HAS ADOPTED THE ACCOUNTING GUIDANCE UNDER THE INCOME TAXES TOPIC OF THE FASB ASC. THE GUIDANCE REQUIRES THE INSTITUTE TO EVALUATE ITS TAX POSITIONS AND RECOGNIZE THE TAX BENEFIT FROM ANY UNCERTAIN TAX POSITIONS ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WOULD BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES BASED ON THE TECHNICAL MERIT OF THE POSITION. IF THE INSTITUTE TAKES A TAX POSITION THAT DOES NOT MEET THE CRITERIA FOR RECOGNITION UNDER THIS STANDARD, THE BENEFIT OF THAT POSITION, INCLUDING POTENTIAL INTEREST AND PENALTIES THEREON, MUST BE REFLECTED AS A LIABILITY IN THE FINANCIAL STATEMENTS UNTIL SUCH TIME AS THE POSITION MEETS THE CRITERIA FOR RECOGNITION. THE RECOGNITION CRITERIA MAY BE MET THROUGH SUBSEQUENT EXAMINATION AND SETTLEMENT BY THE AUTHORITIES, PUBLICATION OF CASE LAW OR REGULATIONS SUPPORTING THE POSITION, OR EXPIRATION OF THE STATUTE OF LIMITATIONS. AS OF JUNE 30, 2016 AND 2015, THE INSTITUTE HAS NOT TAKEN ANY SIGNIFICANT TAX POSITIONS WHICH DO NOT MEET THE CRITERIA FOR RECOGNITION. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS -85,818. SPLIT INTEREST -13,258. GAIN ON INTEREST RATE SWAP -378,191. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID 3,362,209. FUNDRAISING EXPENSE -7,830. COSTS OF SALES OF INVENTORY -128,333. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE 7,830. COST OF GOODS SOLD 128,333. LOSS ON SALE OF LAND, BUILDINGS AND EQUIPMENT PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID 3,362,209. SCHOLARSHIPS 85,818. CONTRIBUTION INCLUDED ON FINANCIAL STATEMENTS AS INSTRUCTIONAL EXPENSE 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. SCHEDULE E, PART I, LINE 6 VARIOUS FEDERAL AND STATE AGENCIES PROVIDE STUDENT FINANCIAL AID TO THE INSTITUTE. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENT 1845808 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENT 1806362 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENT 2088311 0 0 0 0 0 0 5740481 0 5740481 0 0 1 0 0 0 PART IV #3 THE INSTITUTE DOES NOT MEET THE FILING REQUIREMENTS FOR FORM 5471. 1 PAUL & ANNE HARVEY SCHOLARSHIP 10 10050 JOHN HUBENTHAL SCHOLARSHIP 1 1270 FIRST IN HIGH SCHOOL SCHOLARSHIP 4 3000 OTHER INSTITUTIONAL AWARDS 12 9750 FOUNDERS - FRESHMAN SCHOLARSHIP 5 4375 FULLER SCHOLARSHIP 11 10124 PRESIDENTIAL SCHOLARSHIP 19 98125 MERIT SCHOLARSHIPS 350 1844644 MATCHING FUNDS - STATE, FEDERAL 71 13900 FOUNDERS - RETURNING STUDENT SCHOLARSHIP 27 57850 HOUSING SCHOLARSHIPS 34 85818 TRANSFER SCHOLARSHIP 27 35537 DEB GRANT SCHOLARSHIP 2 1000 PSNH SCHOLARSHIP 1 500 BLACKFORD SCHOLARSHIP 2 3000 UPPER VALLEY SCHOLARSHIP 1 1000 NEED SCHOLARSHIPS - BFA 222 1192844 NEED SCHOLARSHIPS - MFA 58 55705 NEED SCHOLARSHIPS - MAAE 3 1400 ANNUAL FUND 1 1000 GAKIDIS 1 460 VIJAY DAVE 1 1000 DEPARTMENTAL INSTITUTIONAL AID 2 1000 FOUNDERS SCHOLARSHIP-MFA 6 5500 SIDORE GRUBER SCHOLARSHIP 1 850 CORBIN HUNTER SCHOLARSHIP 1 200 BICKFORD SCHOLARSHIP 6 6000 GLENN SCHEFFER SCHOLARSHIP 1 1000 PRIOG SCHOLARSHIP 1 1000 PART I, LINE 2: ALL ASSISTANCE IS IN THE FORM OF GRANTS AND SCHOLARSHIPS. THESE FUNDS ARE APPLIED DIRECTLY TO THE STUDENT'S ACCOUNT. X X X 1 0 0 0 0 0 0 0 0 KENT DEVEREAUX PRESIDENT 210985 0 0 0 0 0 0 0 17637 0 228622 0 0 0 LEANNA FLEMING VP-FINANCE & ADMIN. 136124 0 0 0 0 0 0 0 15253 0 151377 0 0 0 RICK STRAWBRIDGE EXECUTIVE VP, INTERIM PRESIDENT (FOR 186973 0 0 0 0 0 0 0 0 0 186973 0 0 0 PART I, LINE 4A PERSONS LISTED IN FORM 990, PART VII, SECTION A, LINE 1A WHO RECEIVED A SEVERANCE PAYMENT: -RICK STRAWBRIDGE, FORMER PRESIDENT -PAYMENT OF SEVERANCE WAGES: $186,973 A NEW HAMPSHIRE HEALTH AND EDUCATIONAL FACILITIES AUTHORITY 020279866 644614XOB 2009-04-27 9000000 FINANCE THE ACQUISITION AND CONSTRUCTION OF ACADEMIC BUILDINGS AND BUY EQUIP 0 0 0 B NEW HAMPSHIRE HEALTH AND EDUCATIONAL FACILITIES AUTHORITY 020287966 644614XOB 2005-09-29 7000000 REFINANCE SERIES 2000 BOND AND FINANCE PURCHASE AND RENOVATION OF BUILDINGS 0 0 0 A 985000 9000000 35000 180000 47656 8737344 2009 0 0 1 1 B 1425000 7000000 42513 140000 4483688 2333799 2005 0 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 0 0 0 1 0 0 0 0 B 0 0 0 0 1 1 MORGAN STANLEY 30.000000000000 0 0 0 0 0 A 0 B 0 GEORGE FOOTE JR SECOND MORTGAGE FOR THE PURCHASE OF A GALLERY (SHARON ARTS CENTER) X 125000 53769 0 1 1 53769 ARTHUR SULLIVAN FORMER TRUSTEE 1091981 ARTHUR SULLIVAN IS A PRINCIPAL AT BRADY SULLIVAN PROPERTIES. THE INSTITUTE LEASES RESIDENTIAL DORM SPACE FROM BRADY SULLIVAN. 0 X 1 56000 APPRAISAL X 2 25449 FAIR MARKET VALUE 0 1 1 PART I, LINE 32B: THE ORGANIZATION USES CITIZENS BANK TO PROCESS SALES OF DONATED STOCK. FORM 990, PART VI, SECTION B, LINE 11 THE INSTITUTE'S FINANCE COMMITTEE REVIEWED THE FORM 990 IN DETAIL. THE ENTIRE BOARD RECEIVED 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 7:19-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 ARE 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: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENT -13,258. CHANGE IN VALUE OF INTEREST RATE SWAP -378,191.