MASSACHUSETTS COLLEGE OF ART AND DESIGN FOUNDATION INC: Form 990, tax year 2010
View the entire original 990 at ProPublica ↗
- Organization
- MASSACHUSETTS COLLEGE OF ART AND DESIGN FOUNDATION INC (EIN 04-2742359)
- Tax period
- 2010-07-01 to 2011-06-30
- Filed
- 2011-11-10
- IRS object ID
- 201123149349302717
- Schema version
- 2010v3.4
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2011-11-10T14:02:24-06:00 | Timestamp |
| Tax Period End Date | 2011-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | O'CONNOR & DREW PC | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 25 BRAINTREE HILL OFC PK SUITE 102 | AddressLine1 |
| City | BRAINTREE | City |
| State | MA | State |
| ZIP Code | 02184 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2010-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 042742359 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MASSACHUSETTS COLLEGE OF ART AND DESIGN | BusinessNameLine1 |
| Business Name Line2 | FOUNDATION INC | BusinessNameLine2 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | MASS | NameControl |
| Phone | 6178797024 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 621 HUNTINGTON AVENUE | AddressLine1 |
| City | BOSTON | City |
| State | MA | State |
| ZIP Code | 02115 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | HUNTER O'HANIAN | Name |
| Title | EXECUTIVE DIRECTOR | Title |
| Phone | 6178797024 | Phone |
| Date Signed | 2011-11-09 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | CHRISTOPHER STENMON | Name |
| Phone | 6174711120 | Phone |
| Date Prepared | 2011-11-09 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2010 | TaxYear |
| Build TS | 2016-03-07 17:11:31Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | HUNTER O'HANIAN | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 621 HUNTINGTON AVENUE | AddressLine1 |
| City | BOSTON | City |
| State | MA | State |
| ZIP Code | 02115 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 4707217 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.MASSART.EDU | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1981 | YearFormation |
| State Legal Domicile | MA | StateLegalDomicile |
| Activity Or Mission Description | TO ASSIST IN THE EDUCATIONAL PROGRAMS, EXHIBITS, AWARDS, AND SCHOLARSHIPS FOR STUDENTS OF MASSACHUSETTS COLLEGE OF ART AND DESIGN. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 20 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 20 | NbrIndependentVotingMembers |
| Total Nbr Employees | 0 | TotalNbrEmployees |
| Total Nbr Volunteers | 50 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 1371575 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 2158058 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 0 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 0 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 287076 | InvestmentIncomePriorYear |
| Investment Income Current Year | 116198 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 127659 | OtherRevenuePriorYear |
| Other Revenue Current Year | 199419 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 1786310 | TotalRevenuePriorYear |
| Total Revenue Current Year | 2473675 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 0 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 0 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 98065 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 1552268 | OtherExpensePriorYear |
| Other Expenses Current Year | 1711675 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 1552268 | TotalExpensesPriorYear |
| Total Expenses Current Year | 1711675 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 234042 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 762000 | RevenuesLessExpensesCY |
| Total Assets BOY | 11013231 | TotalAssetsBOY |
| Total Assets EOY | 13061302 | TotalAssetsEOY |
| Total Liabilities BOY | 131812 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 110898 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 10881419 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 12950404 | NetAssetsOrFundBalancesEOY |
| Mission Description | TO ASSIST IN THE EDUCATIONAL PROGRAMS, EXHIBITS, AWARDS, AND SCHOLORSHIPS, FOR STUDENTS OF MASSACHUSETTS COLLEGE OF ART AND DESIGN. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 1499807 | Expense |
| Description | PROVIDE SCHOLARSHIPS AND AWARDS TO THE STUDENTS OF MASSACHUSETTS COLLEGE OF ART AND DESIGN AND FUNDING FOR EDUCATIONAL PROGRAMS AND EXHIBITS. | Description |
| Total Program Service Expense | 1499807 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 0 | LobbyingActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 1 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 0 | ReportLandBldgEquip |
| Report Invest Oth Securities | 1 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 0 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 1 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 1 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 0 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 1 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | 1 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 0 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Number Of Employees | 0 | NumberOfEmployees |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 1 | NonDeductibleContributions |
| Non Deductible Disclosure | 1 | NonDeductibleDisclosure |
| Quid Pro Quo Contributions | 1 | QuidProQuoContributions |
| Quid Pro Quo Disclosure | 1 | QuidProQuoDisclosure |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Form8899 Filed | 0 | Form8899Filed |
| Form1098 C Filed | 0 | Form1098CFiled |
| Excess Business Holdings | 0 | ExcessBusinessHoldings |
| Taxable Distributions | 0 | TaxableDistributions |
| Distribution To Donor | 0 | DistributionToDonor |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 20 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 20 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 0 | CompensationProcessCEO |
| Compensation Process Other | 0 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | MA | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LYNN TIBBETS | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 6178797026 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 621 HUNTINGTON AVENUE | AddressLine1 |
| City | BOSTON | City |
| State | MA | State |
| ZIP Code | 02115 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | X | InfoInScheduleOPartVII |
Form990 Part VII Section A Form990PartVIISectionA (25 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|
| ANDREW DEAN | |||||||
| CHAIR EMERITUS | 0.50 | X | 0 | 0 | 0 | ||
| TREVANIA HENDERSON | |||||||
| CHAIR EMERITA | 0.50 | X | 0 | 0 | 0 | ||
| WILLIAM HICKS | |||||||
| CHAIR EMERITUS | 0.50 | X | 0 | 0 | 0 | ||
| RALPH STUART | |||||||
| CHAIR EMERITUS | 0.50 | X | 0 | 0 | 0 | ||
| ROBERT BACHELDER | |||||||
| DIRECTOR | 0.50 | X | 0 | 0 | 0 | ||
| SUSAN BENFORD | |||||||
| DIRECTOR | 0.50 | X | 0 | 0 | 0 | ||
| CAROLINE COLLINGS | |||||||
| DIRECTOR | 0.50 | X | 0 | 0 | 0 | ||
| BRUCE DAYTON | |||||||
| DIRECTOR | 0.50 | X | 0 | 0 | 0 | ||
| JOHN FOSTER | |||||||
| DIRECTOR | 0.50 | X | 0 | 0 | 0 | ||
| SANDRA GORDON | |||||||
| DIRECTOR | 0.50 | X | 0 | 0 | 0 | ||
| MARGERY HAMLEN | |||||||
| DIRECTOR | 0.50 | X | 0 | 0 | 0 | ||
| CONSUELO AROSTEGUI ISAACSON | |||||||
| DIRECTOR | 0.50 | X | 0 | 0 | 0 | ||
| WESLEY KARGER | |||||||
| DIRECTOR | 0.50 | X | 0 | 0 | 0 | ||
| JILL KRAVETZ | |||||||
| DIRECTOR | 0.50 | X | 0 | 0 | 0 | ||
| TALI KWATCHER | |||||||
| DIRECTOR | 0.50 | X | 0 | 0 | 0 | ||
| FRED LEICHTER | |||||||
| DIRECTOR | 0.50 | X | 0 | 0 | 0 | ||
| JEREMY POZEN | |||||||
| DIRECTOR | 0.50 | X | 0 | 0 | 0 | ||
| SUSAN SCHECHTER | |||||||
| TRUSTEE | 0.50 | X | 0 | 0 | 0 | ||
| MICHAEL TARNOW | |||||||
| DIRECTOR | 0.50 | X | 0 | 0 | 0 | ||
| JOHN THOMPSON | |||||||
| DIRECTOR | 0.50 | X | 0 | 12346 | 0 | ||
| KATHY SHARPLESS | |||||||
| CHAIR | 1.00 | 0 | 0 | 0 | X | ||
| NICHOLAS GREVILLE | |||||||
| VICE CHAIR | 1.00 | 0 | 0 | 0 | X | ||
| PETER A LOMBARD | |||||||
| VICE CHAIR | 1.00 | 0 | 0 | 0 | X | ||
| HUNTER O'HANIAN | |||||||
| CLERK | 1.00 | 0 | 127718 | 0 | X | X | |
| CLARE VILLARI | |||||||
| VICE CHAIR | 1.00 | 0 | 0 | 0 | X | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 0 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 140064 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 0 | TotalOtherCompensation |
| Number Individuals GT100 K | 0 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 0 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
| Number Of Contractors GT100 K | 0 | NumberOfContractorsGT100K |
| Fundraising Events | 143510 | FundraisingEvents |
| All Other Contributions | 2014548 | AllOtherContributions |
| Total Contributions | 2158058 | TotalContributions |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 154105 | TotalRevenueColumn |
| Exclusion | $154,105 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 1817550 | Securities |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 1855457 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -37907 | Securities |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -37907 | TotalRevenueColumn |
| Exclusion | -$37,907 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Income Fundraising Events | 577504 | GrossIncomeFundraisingEvents |
| Cntrbtns Rprtd Fundraising Events | 143510 | CntrbtnsRprtdFundraisingEvents |
| Fundraising Direct Expenses | 378085 | FundraisingDirectExpenses |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 199419 | TotalRevenueColumn |
| Exclusion | $199,419 | ExclusionAmount |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 2473675 | TotalRevenueColumn |
| Related Or Exempt Function Income | 0 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $315,617 | ExclusionAmount |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 70274 | Total |
| Management And General | 70274 | ManagementAndGeneral |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2422 | Total |
| Management And General | 2422 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 12300 | Total |
| Management And General | 12300 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 731 | Total |
| Management And General | 731 | ManagementAndGeneral |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 26434 | Total |
| Management And General | 19346 | ManagementAndGeneral |
| Fundraising | 7088 | Fundraising |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 28360 | Total |
| Management And General | 7445 | ManagementAndGeneral |
| Fundraising | 20915 | Fundraising |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1285 | Total |
| Management And General | 1285 | ManagementAndGeneral |
Other Expenses OtherExpenses (5 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | FundraisingFundraising |
|---|---|---|---|
| COLLEGE AWARDS AND SUPP | 810763 | 810763 | |
| FINANCIAL AID TO COLLEG | 563544 | 563544 | |
| GALLERIES PROJECT EXPEN | 100000 | 100000 | |
| OUTSIDE SERVICES | 54000 | 54000 | |
| MSCBA PUBLIC ART | 25500 | 25500 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 16062 | Total |
| Fundraising | 16062 | Fundraising |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1711675 | Total |
| Program Services | 1499807 | ProgramServices |
| Management And General | 113803 | ManagementAndGeneral |
| Fundraising | 98065 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 71064 | BOY |
| EOY | 112743 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2273380 | BOY |
| EOY | 4245185 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1494595 | BOY |
| EOY | 1336570 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 1285 | EOY |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7174192 | BOY |
| EOY | 7365519 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 11013231 | BOY |
| EOY | 13061302 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 96191 | BOY |
| EOY | 82944 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 35621 | BOY |
| EOY | 27954 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 131812 | BOY |
| EOY | 110898 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -87475 | BOY |
| EOY | 131666 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7150705 | BOY |
| EOY | 8970208 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3818189 | BOY |
| EOY | 3848530 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10881419 | BOY |
| EOY | 12950404 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 11013231 | BOY |
| EOY | 13061302 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 762000 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 1306985 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Both | X | FinancialStatementBoth |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| College Support Org170b1 Aiv | X | CollegeSupportOrg170b1Aiv |
Gifts Grants Contrib Received170 GiftsGrantsContribReceived170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 2003114 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 1945046 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 1851689 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 1371575 | CurrentTaxYearMinus1Year |
| Current Tax Year | 2158058 | CurrentTaxYear |
| Total | 9329482 | Total |
Total170 Total170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 2003114 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 1945046 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 1851689 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 1371575 | CurrentTaxYearMinus1Year |
| Current Tax Year | 2158058 | CurrentTaxYear |
| Total | 9329482 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total170 | 9329482 | PublicSupportTotal170 |
Gross Investment Income170 GrossInvestmentIncome170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 557798 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 835637 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 625370 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 156195 | CurrentTaxYearMinus1Year |
| Current Tax Year | 154105 | CurrentTaxYear |
| Total | 2329105 | Total |
Other Income170 OtherIncome170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 616952 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 547684 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 481628 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 501740 | CurrentTaxYearMinus1Year |
| Current Tax Year | 577504 | CurrentTaxYear |
| Total | 2725508 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | 14384095 | TotalSupport |
| Public Support Pertcentage170 | 0.64860 | PublicSupportPertcentage170 |
| Public Support Pertcent Prior Year | 0.69240 | PublicSupportPertcentPriorYear |
| Thirty Three Percnt Tests CY170 | X | ThirtyThreePercntTestsCY170 |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule D IRS990ScheduleD
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 10957413 | BeginningOfYearBalance |
| Contributions | 1412789 | Contributions |
| Investment Earnings Or Losses | 1409849 | InvestmentEarningsOrLosses |
| Other Expenditures | 961313 | OtherExpenditures |
| End Of Year Balance | 12818738 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 9392574 | BeginningOfYearBalance |
| Contributions | 961525 | Contributions |
| Investment Earnings Or Losses | 1429614 | InvestmentEarningsOrLosses |
| Other Expenditures | 826300 | OtherExpenditures |
| End Of Year Balance | 10957413 | EndOfYearBalance |
Current Year Minus2 Years CurrentYearMinus2Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 9715449 | BeginningOfYearBalance |
| Contributions | 1374947 | Contributions |
| Investment Earnings Or Losses | -953715 | InvestmentEarningsOrLosses |
| Other Expenditures | 744107 | OtherExpenditures |
| End Of Year Balance | 9392574 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Permanent Endowment EOY Balance | 0.30020 | PermanentEndowmentEOYBalance |
| Term Endowment EOY Balance | 0.69980 | TermEndowmentEOYBalance |
| Endowments Held By Unrelated Orgs | 0 | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | 0 | EndowmentsHeldByRelatedOrgs |
| Total Of Book Value Land Buildings | 0 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities (3 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| EQUITY MUTUAL FUNDS | 4549603 | F |
| FIXED INCOME MUTUAL FUNDS | 2315916 | F |
| FUND OF HEDGE FUNDS | 500000 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 7365519 | TotalOfBookValueSecurities |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | ANNUITY PAYABLE | Description |
| Amount | $27,954 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 27954 | TotalOfAmounts |
| Total Revenue | 2473675 | TotalRevenue |
| Total Expenses | 1711675 | TotalExpenses |
| Excess Or Deficit For Year | 762000 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | 1306985 | NetUnrealizedGLOnInvestments |
| Total Adjustments | 1306985 | TotalAdjustments |
| Excess Or Deficit Per FS | 2068985 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 4158745 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | 1306985 | NetUnrealizedGainsInvestments |
| Other Revenues | 378085 | OtherRevenues |
| Revenue Not Rptd F990 | 1685070 | RevenueNotRptdF990 |
| Revenue Subtotal | 2473675 | RevenueSubtotal |
| Revenue Not Rptd On Fin Stmt | 0 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 2473675 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 2089760 | TotExpensesEtcAuditedFinclStmt |
| Other Expenses Included | 378085 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | 378085 | ExpensesNotRptdF990 |
| Expenses Subtotal | 1711675 | ExpensesSubtotal |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 1711675 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Explanation | THE RECONCILING AMOUNTS LISTED ABOVE RELATE TO DIRECT EXPENSES RELATED TO FUNDRAISING EVENTS. PART XII + PART XIII LINE 2D EXPENSES ALLOCATED TO FUNDRAISING EVENTS: ART AUCTION EVENT $346,369 KENTRIDGE EVENT $31,716 FIN 48 DISCLOSURE: U.S. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES REQUIRE AN ENTITY TO ASSESS THE PROBABILITY THAT A TAX POSITION HAS A "MORE LIKELY THAN NOT" (MTLN) SUSTAINABILITY AFTER REVIEW BY TAX AUTHORITIES. IF A TAX POSITION IS DEEMED NOT TO MEET THIS THRESHHOLD, ANY UNRECOGNIZED TAX BENEFITS AND COSTS ARE ESTIMATED AND RECOGNIZED. INTEREST AND PENALTIES, IF ANY, RELATED TO ASSESSMENTS BY TAX AUTHORITIES WILL BE CLASSIFIED AS A COMPONENT OF INTEREST EXPENSE AND OTHER EXPENSE, RESPECTIVELY, IN THE STATEMENT OF ACTIVITIES. A TAX POSITION MAY BE CONSIDERED AS TAKEN ANY TIME A TAX PAYER CHOOSES AMONGST ALTERNATIVES THAT AFFECT THE AMOUNT OF THEIR TAX OBLIGATIONS AND INCLUDE FOR EXAMPLE: TAX EXEMPT STATUS; STATUS AS A PASS-THROUGH ENTITY (S CORPORATIONS); DECISIONS MADE IN THE PROCESS OF CONFORMING WITH TAX LAWS; DECISIONS NOT TO FILE IN CERTAIN JURISDICTIONS; ALLOCATION OF INCOME BETWEEN JURISDICTIONS AND THE CHARACTERIZATION OF INCOME OR EXPENSES. THE RETURNS ARE ROUTINELY OPEN FOR REVIEW BY THE TAX AUTHORITIES FOR THREE YEARS FROM THEIR DUE DATE. IN CERTAIN CIRCUMSTANCES THE STATUTE OF LIMITATIONS MAY REMAIN OPEN INDEFINITELY. THE FOUNDATION HAS BEEN NOTIFIED BY THE INTERNAL REVENUE SERVICE THAT IT MEETS THE QUALIFICATIONS TO BE CLASSIFIED AS A TAX EXEMPT ENTITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. SINCE THE CONTINUANCE OF THIS STATUS IS BASED UPON CONTINUING QUALIFICATION, THE FOUNDATION HAS INDENTIFIED THIS AS A TAX POSITION. HOWEVER, IT HAS DETERMINED THAT THIS TAX POSITION MEETS MTLN SUSTAINABILITY AND DOES NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION. | Explanation |
Schedule G IRS990ScheduleG
Events Information EventsInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Event1 | ART AUCTION | NameOfEvent1 |
| Gross Receipts Event1 | 691839 | GrossReceiptsEvent1 |
| Charitable Contributions Event1 | 123010 | CharitableContributionsEvent1 |
| Gross Revenue Event1 | 568829 | GrossRevenueEvent1 |
| Food And Beverage Event1 | 28667 | FoodAndBeverageEvent1 |
| Entertainment Event1 | 200 | EntertainmentEvent1 |
| Other Direct Expenses Event1 | 317502 | OtherDirectExpensesEvent1 |
| Name Of Event2 | KENTRIDGE EVENT | NameOfEvent2 |
| Gross Receipts Event2 | 29175 | GrossReceiptsEvent2 |
| Charitable Contributions Event2 | 20500 | CharitableContributionsEvent2 |
| Gross Revenue Event2 | 8675 | GrossRevenueEvent2 |
| Food And Beverage Event2 | 27688 | FoodAndBeverageEvent2 |
| Other Direct Expenses Event2 | 4028 | OtherDirectExpensesEvent2 |
| Gross Receipts Total | 721014 | GrossReceiptsTotal |
| Charitable Contributions Total | 143510 | CharitableContributionsTotal |
| Gross Revenue Total Events | 577504 | GrossRevenueTotalEvents |
| Food And Beverage Total Events | 56355 | FoodAndBeverageTotalEvents |
| Entertainment Total Events | 200 | EntertainmentTotalEvents |
| Other Direct Expenses Total Events | 321530 | OtherDirectExpensesTotalEvents |
| Direct Expense Summary Events | 378085 | DirectExpenseSummaryEvents |
| Net Income Summary | 199419 | NetIncomeSummary |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (7 entries)
| IdentifierIdentifier | ExplanationExplanation | Return ReferenceReturnReference |
|---|---|---|
| FORM 990, PART VI, SECTION B, LINE 11 | IT IS THE EXPRESS POLICY OF THE MASSACHUSETTS COLLEGE OF ART AND DESIGN FOUNDATION, INC. THAT THE ORGANIZATION'S FORM 990 IS REVIEWED BY ITS GOVERNING BODY BEFORE BEING FILED. SPECIFICALLY, THE COMPLETED FORM 990 IS REVIEWED: 1. BY THE FOUNDATION CONTROLLER AND EXECUTIVE DIRECTOR 2. BY THE FOUNDATION TREASURER AND PRESIDENT 3. BY OTHER MEMBERS OF THE FOUNDATION EXECUTIVE COMMITTEE. REVIEWS MAY BE CONDUCTED BY E-MAIL, PROVIDED THAT THERE IS SUFFICIENT TIME FOR COMMENTS BEFORE THE FILING DEADLINE. SUFFICIENCY WILL BE DETERMINED BY THE FOUNDATION EXECUTIVE COMMITTEE. | |
| THE ORGANIZATION REQUIRES DIRECTORS AND OFFICERS TO EXECUTE A CONFLICT OF INTEREST STATEMENT ANNUALLY. | FORM 990, PART VI, SECTION B, LINE 12C | |
| THE MASSACHUSETTS COLLEGE OF ART AND DESIGN FOUNDATION, INC. HAS NO EMPLOYEES. THE FOUNDATION INSTEAD USES EMPLOYEES OF THE MASSACHUSETTS COLLEGE OF ART AND DESIGN. ALL SALARIES FOR THESE EMPLOYEES ARE PAID BY MASSACHUSETTS COLLEGE OF ART AND DESIGN. | ||
| THE ORGANIZATION MAKES GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC ON DEMAND AT ITS OFFICES. | FORM 990, PART VI, SECTION C, LINE 19 | |
| JOHN THOMPSON, DIRECTOR, ALSO WORKED 7.5 HOURS PER WEEK FOR MASSACHUSETTS COLLEGE OF ART AND DESIGN, A RELATED ORGANIZATION. HUNTER O'HANIAN, CLERK, ALSO WORKED 36.5 HOURS PER WEEK FOR MASSACHUSETTS COLLEGE OF ART AND DESIGN, A RELATED ORGANIZATION. | FORM 990, PART VII, SECTION A | |
| CHANGES IN NET ASSETS OR FUND BALANCES: | NET UNREALIZED GAINS ON INVESTMENTS: 1,306,985. | FORM 990, PART XI, LINE 5: |
| THE ORGANIZATION HAS AN AUDIT COMMITTEE WHOSE PURPOSE IS THE OVERSIGHT AND REVIEW OF THE AUDITED FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PURPOSE HAS NOT CHANGED FROM PRIOR YEAR | FORM 990, PART XII, LINE 2C: |
Schedule R IRS990ScheduleR
Form990 Schedule R Part II Form990ScheduleRPartII
Name Of Disregarded Entity NameOfDisregardedEntity
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MASSACHUSETTS COLLEGE OF ART AND DESIGN | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 621 HUNTINGTON AVENUE | AddressLine1 |
| City | BOSTON | City |
| State | MA | State |
| ZIP Code | 02115 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 046002284 | EIN |
| Primary Activities | STATE COLLEGE | PrimaryActivities |
| Legal Domicile State | MA | LegalDomicileState |
| Exempt Code Section | 115 | ExemptCodeSection |
| Public Charity Status | N/A | PublicCharityStatus |
| Direct Controlling Entity NA | N/A | DirectControllingEntityNA |
| Controlled Org | 0 | ControlledOrg |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | 0 | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | 1 | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | 0 | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | 0 | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | 0 | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | 0 | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | 0 | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | 0 | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | 0 | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | 1 | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | 0 | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | 1 | SharingOfFacilities |
| Sharing Of Paid Employees | 1 | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | 1 | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | 0 | OtherTransferToOtherOrg |
| Other Transfer From Other Org | 0 | OtherTransferFromOtherOrg |
Transactions Related Orgs Table TransactionsRelatedOrgsTable
Name Of Other Organization NameOfOtherOrganization
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MASSACHUSETTS COLLEGE OF ART AND DESIGN | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | B | TransactionType |
| Amount Involved | 1176269 | AmountInvolved |
| Method Of Amt Determination | FAIR MARKET VALUE | MethodOfAmtDetermination |
Comments