2015-04-10T17:51:36-05:00 2014-05-31 KPMG LLP 1676 International Drive McLean VA 22102 990 2013-06-01 520591661 MARYLAND INSTITUTE COLLEGE OF ART INC % DOUGLAS MANN MARY 4102252352 1300 Mount Royal Avenue Suite Baltimore MD 21217 DOUGLAS R MANN VICE PRESIDENT & CFO 4102252352 2015-04-10 true WHITNEY E BLAIR P01226647 4102252352 2013 2016-02-25 16:41:14Z SAMUEL HOI 1300 Mount Royal Avenue Baltimore MD 21217 253845148 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 29 29 2149 29 67206 10997856 9422811 95335344 98150577 2044469 3110047 362848 608601 108740517 111292036 26871095 28292245 0 0 43764079 44356692 37652 40 2713008 29546903 32777084 100219729 105426061 8520788 5865975 281584727 291655364 121306758 119297013 160277969 172358351 DEGREE GRANTING COLLEGE-MARYLAND INSTITUTE COLLEGE OF ART IS A PRIVATE COLLEGE DEDICATED TO THE EDUCATION OF PROFESSIONAL ARTISTS AND THE FURTHER ADVANCEMENT OF ART IN THE COMMUNITY. false false 56119902 28292245 98321340 Accredited college with programs in fine arts, applied arts, and art education; approximately 2,150 students, grants are disbursements for students' financial aid and for faculty development grants. 56119902 true true false true false false false true false true true true false true true true false true true true true false true true false false false false true true true false false false false false false false false true true true true false false false true true true false false true 362 0 true 2149 true true true false false false false false false false false false X 29 29 false false false false false false false true true false false true true true true true true true true false MD X DOUGLAS MANN 4102252352 1300 MOUNT ROYAL AVENUE BALTIMORE MD 21217 X MR KIBEBE GIZAW TRUSTEE 1.0 0.0 X 0 0 0 MR MICHAEL BEATTY TRUSTEE 1.0 0.0 X 0 0 0 MR JEFFREY G BUNTING TRUSTEE 1.0 0.0 X 0 0 0 MR BRIAN MARTEL TRUSTEE 1.0 0.0 X 0 0 0 MS MICHEL L MODELL TRUSTEE 1.0 0.0 X 0 0 0 MR DOUG TSUI TRUSTEE 1.0 0.0 X 0 0 0 MR STEPHEN BOESEL TRUSTEE 1.0 0.0 X 0 0 0 MS M GWEN DAVIDSON TRUSTEE 1.0 0.0 X 0 0 0 MS ROSALEE C DAVISON TRUSTEE 1.0 0.0 X 0 0 0 MR RONALD E FIDLER TRUSTEE 1.0 0.0 X 0 0 0 MS ANN M GARFINKLE TRUSTEE 1.0 0.0 X 0 0 0 MS ALICE FALVEY GREIF TRUSTEE 1.0 0.0 X 0 0 0 MS FREDYE W GROSS TRUSTEE 1.0 0.0 X 0 0 0 MR DAVID HAYDEN TRUSTEE 1.0 0.0 X 0 0 0 MS BARBARA L HIMMELRICH TRUSTEE 1.0 0.0 X 0 0 0 MS WENDY JACHMAN TRUSTEE 1.0 0.0 X 0 0 0 MR DAVID JACOBS TRUSTEE 1.0 0.0 X 0 0 0 MR ROSS JONES TRUSTEE 1.0 0.0 X 0 0 0 MR NEIL A MEYERHOFF TRUSTEE 1.0 0.0 X 0 0 0 MR JIM MILLER TRUSTEE 1.0 0.0 X 0 0 0 MR CHARLES NEARBURG TRUSTEE 1.0 0.0 X 0 0 0 MS ANNE S PERKINS TRUSTEE 1.0 0.0 X 0 0 0 MS SHEILA K RIGGS TRUSTEE 1.0 0.0 X 0 0 0 MS NANCY SASSER TRUSTEE 1.0 0.0 X 0 0 0 MR WILLIAM O STEINMETZ TRUSTEE 1.0 0.0 X 0 0 0 MR REGGIE WELLS TRUSTEE 1.0 0.0 X 0 0 0 MS SALLIE FRAENKEL ZUCH TRUSTEE 1.0 0.0 X 0 0 0 MR JAMES BLUE TRUSTEE 1.0 0.0 X 0 0 0 DR JUDITH BURTON TRUSTEE 1.0 0.0 X 0 0 0 FRED LAZARUS IV PRESIDENT 40.0 1.0 X 850342 0 38900 RAYMOND V ALLEN VP ACADEMIC AFFAIRS & PROVOST 40.0 0.0 X 276401 0 36327 J DAVIDSON PORTER VP STUDENT AFFAIRS 40.0 0.0 X 163709 0 22727 THERESA LYNCH BEDOYA VP ADMIS AND FINANCIAL AID 40.0 0.0 X 211127 0 29297 MICHAEL MOLLA VP OPERATIONS 40.0 0.0 X 193697 0 8348 DOUGLAS R MANN VP FINANCE & HUMAN RESOURCES 40.0 1.0 X 252678 0 32895 THOMAS G HYATT VP TECHNOLOGY SYSTEMS 40.0 0.0 X 170443 0 29286 MICHAEL FRANCO VP DEVELOPMENT 40.0 0.0 X 205308 0 30474 JAN STINCHCOMB VICE PROVOST-UNDERGRADUATE 40.0 0.0 X 156757 0 26832 LESLIE KING-HAMMOND DIR of CENTER for RACE & CULT 40.0 0.0 X 262455 0 25428 CYNTHIA BARTH DEAN ACADEMIC SERVICES 40.0 0.0 X 135471 0 21084 SUSAN MILTENBERGER AVP of TECHNOLOGY SYSTEMS 40.0 0.0 X 141794 0 16487 ROBIN HIGGINS SR. MAJOR GIFTS OFFICER 40.0 0.0 X 123696 0 18842 KAREN CARROLL DEAN OF ART EDUCATION 40.0 0.0 X 123059 0 18719 MICHAEL WEIKERT DIR OF CTR FOR DESIGN PRACTICE 40.0 0.0 X 122761 0 25058 3389698 0 380704 41 false true false THE WHITING-TURNER CONTRACTING CO I PO BOX 17596 BALTIMORE MD 21297 CONSTRUCTION 11128286 PARKHURST DINING SERVICES PO BOX 644091 PITTSBURGH PA 15264 FOOD SERVICES 2465001 Peake Delancey Printers LLC 2500 Schuster Drive HYATTSVILLE MD 20781 Printing service 414873 ORACLE AMERICA INC PO BOX 203448 DALLAS TX 753203448 TECHNICAL SUPPORT 413741 ZIGERSNEAD LLP 1006 MORTON STREET BALTIMORE MD 21201 ARCHITECTURAL SVCS 412832 32 2617414 6805397 40425 9422811 TUITION & FEES 611600 86842941 86842941 DORMITORIES 611710 7365296 7365296 BOOKSTORE 611710 992387 992387 AUXILIARY ENT. 611710 2949953 2882747 67206 98150577 1180110 1180110 46234 46234 1591 1591 113908 100190 13718 0 13718 13718 144336625 142452922 1883703 1883703 1883703 0 0 0 DIGITAL PRINTING 900099 169172 169172 TICKET AND EVENT INCOME 900099 110662 110662 DEPOSIT FORFEITURE 900099 9375 9375 304083 304083 593292 111292036 98252543 67206 3549476 0 26259401 26259401 2032844 2032844 0 2528524 616935 1667264 244325 129193 129193 33027157 15626571 15926088 1474498 1861469 854067 917741 89661 4239192 1944998 2090006 204188 2571157 1183620 1264955 122582 0 148611 140926 7685 142100 142100 0 40 40 257601 257601 1827313 430206 1365832 31275 1969762 1193758 606472 169532 3138820 170962 2810559 157299 885646 868736 16910 0 6116162 1613184 4466179 36799 1164342 331021 774182 59139 0 802912 709698 93214 4408216 4408216 0 5764849 5764849 1586554 1586554 AUXILIARY-OTHER 2584686 2584686 TUITION & FEES 611382 611382 BAD DEBT 606956 606956 STUDENT SERVICES 527145 522284 4861 234027 14790 218237 1000 105426061 56119902 46593151 2713008 0 0 2752381 3300565 12910980 11503100 7609355 6703817 0 0 0 0 11820714 11820714 334142 324938 2431745 3082827 196968854 62602126 124353438 134366728 71692785 81308833 22435947 24531587 1935062 2022634 0 0 23308178 12689621 281584727 291655364 11591679 10408979 0 0 2920131 3016039 104317868 103350087 0 0 0 0 0 0 0 0 2477080 2521908 121306758 119297013 X 94413696 100496174 17918437 20179895 47945836 51682282 160277969 172358351 281584727 291655364 5865975 6214407 X false true X true true true X 7450500 17265657 12633754 10997856 9422811 57770578 0 0 7450500 17265657 12633754 10997856 9422811 57770578 10120122 47650456 1029542 1062694 1342603 1184009 1340252 5959100 0 137255 176444 146926 155153 424120 1039898 64769576 442325014 0.73569 0.00000 X 0.00000 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false false false false true 2000 false 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. 40425 1360852 740000 X false 72165215 3441911 8671171 1017141 2330018 123087 80808051 62963648 3097297 9328001 890010 2219379 114342 72165215 67727466 2415170 -4145487 825860 2069429 138212 62963648 56503241 4262251 9924501 732020 2103902 126605 67727466 50623498 1025011 7656218 659996 2029913 111577 56503241 0.35850 0.48710 0.15440 false false 0 2638541 2638541 162343173 40969524 121373649 2446098 355197 2090901 27627391 20752500 6874891 1913651 524905 1388746 134366728 HEDGE FUNDS 24531587 24531587 0 REFUNDABLE ADVANCES FROM US GO 2288130 LIABILITY TRUST AGREEMENTS 233778 2521908 X 89475400 6214407 211683 6426090 83049310 28242726 28242726 111292036 77395018 211683 211683 77183335 28242726 28242726 105426061 SCH D-PART V, LINE 4 DESCRIBE THE INTENDED USES OF THE ORGANIZATION'S ENDOWMENT FUNDS. THE COLLEGE'S ENDOWMENT FUNDS ARE AN IMPORTANT SOURCE OF REVENUE WHICH SUPPORTS 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 ACCOUNTS FOR UNCERTAIN TAX POSITIONS, IF ANY, IN ACCORDANCE WITH ASC 740, INCOME TAXES. NO PROVISION FOR INCOME TAXES WAS REQUIRED FOR 2014 OR 2013. SCH D-PART XI 2d PART XI 2d OTHER CONSISTS OF ANNUITY BENEFITS PAID $111,493 AND RENTAL EXPENSES $100,190. DESCRIPTION OF COLLECTION PAINTINGS FURTHER THE ADVANCEMENT OF ART IN THE COLLEGE COMMUNITY. SCH D-PART XI 4b PART XI 4b CONSISTS OF FINANCIAL AID OF $28,242,726. SCH D-PART XII 2d PART XII 2d CONSISTS OF ANNUITY BENEFITS PAID $111,493 AND RENTAL EXPENSES $100,190. SCH D-PART XII 4B PART XII 4B CONSISTS OF FINANCIAL AID OF $28,242,726. true true true true true true true false false false false false false false false true false true RACIALLY NONDISCRIMINATORY POLICY SCHEDULE E, LINE 3 THE FOLLOWING STATEMENTS APPEAR 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, SEXUAL ORIENTATION, 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 FINANCIAL AID ASSISTANCE FROM GOVERNMENTAL AGENCY 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 26% OF TUITION AND ROOM AND BOARD REVENUES IN 2013. true East Asia and the Pacific 1 Program Services STUDY ABROAD 3615 Europe (Including Iceland and Greenland) 19 Program Services STUDY ABROAD 206424 Sub-Saharan Africa 1 Program Services STUDY ABROAD 12879 Central America and the Caribbean Investments 9393573 Central America and the Caribbean Grantmaking 17874 East Asia and the Pacific Grantmaking 1409030 Europe (Including Iceland and Greenland) Grantmaking 189250 Middle East and North Africa Grantmaking 83830 North America Grantmaking 166000 South America Grantmaking 101780 South Asia Grantmaking 62580 Sub-Saharan Africa Grantmaking 2500 21 21 11649335 11649335 EDUCATIONAL Central America and the Caribbean 2 17874 TUITION DISC FMV EDUCATIONAL East Asia and the Pacific 172 1409030 TUITION DISC FMV EDUCATIONAL Europe (Including Iceland and Greenland) 21 189250 TUITION DISC FMV EDUCATIONAL Middle East and North Africa 6 83830 TUITION DISC FMV EDUCATIONAL North America 16 166000 TUITION DISC FMV EDUCATIONAL South America 8 101780 TUITION DISC FMV EDUCATIONAL South Asia 6 62580 TUITION DISC FMV EDUCATIONAL Sub-Saharan Africa 1 2500 TUITION DISC FMV true false true true true false STUDENT FINANCIAL AID SCHEDULE F, 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. THE AWARDS ARE ACCOUNTED FOR ON THE ACCRUAL METHOD. THE INVESTMENTS ARE SHOWN AT BOOK VALUE AS OF THE END OF THE FISCAL YEAR. THE PROGRAM SERVICE EXPENSES ARE ACCOUNTED FOR ON THE ACCRUAL METHOD. METHOD. X X X X X X true GALLAGHEREVELIUSJONES LLP GIVING CONSULT false 0 40 -40 0 40 -40 true COMPETITIVE SCHOLARSHIPS 1546 18097470 UNDERGRADUATE MI GRANTS 976 3629970 GRADUATE SCHOLARSHIPS 260 2489737 RESTRICTED SCHOLARSHIPS & AWARDS 373 1164590 FEDERAL COLLEGE WORK STUDY 250 225981 SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT 206 189750 MICA WORK STUDY(FINANCIAL AID) 138 143483 CONTINUING STUDIES SCHOLARSHIP 45 52205 DEPARTMENTAL SCHOLARSHIP 135 121590 LUCAS SCHOLARSHIP 25 84455 FACULTY DEVELOPMENT GRANT 61 49519 CONTINUING STUDIES DISCOUNTS 108 10651 SCHEDULE I, PART IV 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. X X X X false true false false false false false false false FRED LAZARUS IV PRESIDENT 326098 0 0 0 524244 0 22950 0 15950 0 889242 0 0 0 RAYMOND V ALLEN VP ACADEMIC AFFAIRS & PROVOST 276401 0 0 0 0 0 22950 0 13377 0 312728 0 0 0 J DAVIDSON PORTER VP STUDENT AFFAIRS 163709 0 0 0 0 0 14850 0 7877 0 186436 0 0 0 THERESA LYNCH BEDOYA VP ADMIS AND FINANCIAL AID 211127 0 0 0 0 0 19108 0 10189 0 240424 0 0 0 MICHAEL MOLLA VP OPERATIONS 193697 0 0 0 0 0 0 0 8348 0 202045 0 0 0 DOUGLAS R MANN VP FINANCE & HUMAN RESOURCES 252678 0 0 0 0 0 22748 0 10147 0 285573 0 0 0 THOMAS G HYATT VP TECHNOLOGY SYSTEMS 170443 0 0 0 0 0 15923 0 13363 0 199729 0 0 0 MICHAEL FRANCO VP DEVELOPMENT 205308 0 0 0 0 0 18984 0 11490 0 235782 0 0 0 JAN STINCHCOMB VICE PROVOST-UNDERGRADUATE 156757 0 0 0 0 0 14620 0 12212 0 183589 0 0 0 LESLIE KING-HAMMOND DIR of CENTER for RACE & CULT 262455 0 0 0 0 0 18425 0 7003 0 287883 0 0 0 CYNTHIA BARTH DEAN ACADEMIC SERVICES 135471 0 0 0 0 0 12184 0 8900 0 156555 0 0 0 SUSAN MILTENBERGER AVP of TECHNOLOGY SYSTEMS 103144 0 0 0 38650 0 9335 0 7152 0 158281 0 0 0 SCH J, PART 1, LINE 4B FRED LAZARUS WAS THE ONLY PARTICIPANT. HE RECEIVED A FINAL PAYMENT FROM THE PLAN DURING THE CALENDAR YEAR 2013 IN THE AMOUNT OF $524,244. SCH J, PART II AND FORM 990, PART VII SUSAN MILTENBERGERS TAXABLE WAGES INCLUDE A GRADUATE TUITION REMISSION BENEFIT. LESLIE KING HAMMONDS TAXABLE WAGES INCLUDED A ONE TIME PAYMENT OF $168,971.27. A MHHEFA 520936091 574217VQ5 2006-01-05 30504380 MHHEFA BONDS 2006 false false false B MHHEFA 520936091 574217G25 2007-06-27 38527968 MHHEFA BONDS 2007 false false false C MHHEFA 520936091 5742168D2 2012-10-10 37371463 MHHEFA BONDS 2012 false false false A 0 0 30504380 4922160 0 0 412533 0 0 25169687 0 0 2008 false false true true B 0 0 38527968 2251426 0 25557418 484015 0 0 7732558 0 0 2008 false true true true C 0 0 37371463 0 913803 13325756 609965 0 0 23010321 0 0 2013 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 false true true false false 0 false false false 0 false true B false false true true false false 0 false false false 0 false true C false true false false true 0 false false false 0 false true A true B true C true SCH K, PART I LINE B(2007) PURPOSE OF 2007 BOND ISSUE REFUNDING OF 12/01/2001 BOND ISSUE, REFINANCE OF 2002 POOLED LOAN, AND ADDITIONAL FUNDS FOR CONSTRUCTION OF RESIDENCE HALL AND FOR RENOVATION OF FACILITIES ON CAMPUS. 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 IV, LINE 2C (2006) THE LAST REBATE CALCULATION FOR THE 2006 BOND ISSUE WAS COMPLETED ON JULY 1, 2014. SCH K, PART IV, LINE 2C (2007) THE LAST REBATE CALCULATION FOR THE 2007 BOND ISSUE WAS COMPLETED ON JUNE 27, 2012. Theresa Bedoya VP ADMISSIONS 129193 SPOUSE'S EMPLOYMENT false Michael Molla VP Operations 390925 SPOUSE'S INDEPENDENT CONTRACT false X 4 40425 RESALE VALUE X 0 X 0 X ART SUPPLIES 12 0 0 X EQUIPMENT 8 0 0 2 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 PRESIDENT'S SALARY IS REVIEWED BY A CHAIR APPOINTED PRESIDENTIAL REVIEW COMMITTEE/COMPENSATION COMMITTEE, THEN GOES TO THE BOARD IN EXECUTIVE SESSION. DURING THAT REVIEW, THEY COMPARE THE COLLEGE'S SALARIES WITH OTHER AICAD COLLEGES. IN ADDITION, THERE IS A PERIODIC OUTSIDE REVIEW. THE LAST REVIEW WAS DONE IN FEBRUARY 2007 BY KENNEDY AND RAND CONSULTING. NOTES OF THE DELIBERATION PROCESS ARE TAKEN AND MAINTAINED. OTHER OFFICERS' AND KEY EMPLOYEES' COMPENSATION IS REVIEWED AND APPROVED BY A COMMITTEE OF THE BOARD AND TAKES INTO ACCOUNT THE SALARIES OF COMPARABLE POSITIONS IN OTHER COLLEGES. NOTES OF THE DELIBERATION PROCESS ARE TAKEN AND MAINTAINED. 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) 11A 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 false false false false false false false false false MICA GRADUATE STUDIO CENTER INC d 5402418 COST