College Of The Atlantic
- Assets
- $133.7m
- Revenue
- $26.5m
- Investments
- $0.0
- Employees
- 621
- Location
- Bar Harbor, ME
- Founding
- 09/1969
- Data as of
- 06/2022
- EIN
- 23-7032625
Organization Overview
College Of The Atlantic is located in Bar Harbor, ME. The organization was established in 1969. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2022, College Of The Atlantic employed 621 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. College Of The Atlantic is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, College Of The Atlantic generated $26.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $28.2m during the year ending 06/2022. While expenses have increased by 2.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF A FOUR YEAR ACCREDITED DEGREE COLLEGE, OPERATION OF A SMALL GRADUATE PROGRAM AND OTHER SUMMER EDUCATION PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TUITION, FEES AND ROOM AND BOARD. COLLEGE OF THE ATLANTIC OFFERS UNDERGRADUATE CLASSES TO APPROXIMATELY 350 STUDENTS. A DEGREE IN HUMAN ECOLOGY CAN BE EARNED FOR UNDERGRADUATES AND A MASTERS OF PHILOSOPHY DEGREE IN HUMAN ECOLOGY CAN BE EARNED FOR GRADUATE STUDENTS. THE COLLEGE PROVIDES ON CAMPUS HOUSING TO APPROXIMATELY 160 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Darron Collins President | Officer | 40 | $276,327 |
Kenneth Hill Dean | 40 | $110,655 | |
Melissa Cook Controller | 40 | $109,857 | |
John Cooper Faculty | 40 | $109,358 | |
Ronald E Beard Secretary | OfficerTrustee | 4 | $4,429 |
Marthann Samek Vice Co-Chai | OfficerTrustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
El Shea Inc Construction | 6/29/22 | $3,439,635 |
Cambridge Associates Llc Investment Mgr | 6/29/22 | $137,500 |
John P Gordon Architect Architect | 6/29/22 | $189,976 |
Winger's Welding Welding Service | 6/29/22 | $143,592 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $55,560 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,029,074 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,907,140 |
| Noncash contributions included in lines 1a–1f | $386,122 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,991,774 |
| Total Program Service Revenue | $17,375,689 |
| Investment income | $623,773 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $465,038 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,542,064 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $10,878,153 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $344,352 |
| Compensation of current officers, directors, key employees. | $344,352 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,936,948 |
| Pension plan accruals and contributions | $275,604 |
| Other employee benefits | $1,222,668 |
| Payroll taxes | $502,362 |
| Fees for services: Management | $48,226 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $715,408 |
| Fees for services: Other | $62,056 |
| Advertising and promotion | $40,998 |
| Office expenses | $186,861 |
| Information technology | $74,700 |
| Royalties | $0 |
| Occupancy | $35,344 |
| Travel | $52,318 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $94,920 |
| Interest | $363,788 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,551,626 |
| Insurance | $321,017 |
| All other expenses | $1,945,005 |
| Total functional expenses | $28,198,825 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $289,342 |
| Savings and temporary cash investments | $15,397,795 |
| Pledges and grants receivable | $7,980,271 |
| Accounts receivable, net | $258,197 |
| Loans from Officers, Directors, or Controlling Persons | $123,185 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $115,478 |
| Inventories for sale or use | $11,128 |
| Prepaid expenses and deferred charges | $84,604 |
| Net Land, buildings, and equipment | $42,532,695 |
| Investments—publicly traded securities | $66,773,461 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $109,872 |
| Total assets | $133,676,028 |
| Accounts payable and accrued expenses | $1,184,406 |
| Grants payable | $0 |
| Deferred revenue | $443,251 |
| Tax-exempt bond liabilities | $12,750,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,341,763 |
| Total liabilities | $15,719,420 |
| Net assets without donor restrictions | $44,267,492 |
| Net assets with donor restrictions | $73,689,116 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $133,676,028 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that College Of The Atlantic has recieved totaling $74,000.
| Awarding Organization | Amount |
|---|---|
Turnbull Family Foundation Inc Greenwich, CT PURPOSE: GENERAL SUPPORT | $37,500 |
Machias Savings Bank Community Development Foundation Machias, ME PURPOSE: PROGRAM SUPPORT GRANT | $12,500 |
General E R Quesada Educational Portland, ME PURPOSE: UNRESTRICTED | $10,000 |
Becton Family Foundation Tr Homosassa, FL PURPOSE: CONTRIBUTION TO BROAD REACH CAMPAIGN | $8,000 |
James Deering Danielson Foundation Chicago, IL PURPOSE: EDUCATIONAL | $5,000 |
Sims-Maes Foundation Inc Boston, MA PURPOSE: GENERAL PURPOSES | $1,000 |
Endowment Analysis
| Beg. Balance | $81,831,154 |
| Earnings | -$14,256,449 |
| Net Contributions | $3,455,308 |
| Other Expense | $3,243,129 |
| Ending Balance | $67,786,884 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Franklin Pierce University Rindge, NH | $94,215,029 | $91,004,046 |
New England College Henniker, NH | $96,223,111 | $84,142,963 |
Colby-Sawyer College New London, NH | $126,086,266 | $73,333,222 |
Thomas College Waterville, ME | $83,830,985 | $31,052,244 |
College Of The Atlantic Bar Harbor, ME | $133,676,028 | $26,542,064 |
Maine College Of Art Portland, ME | $42,166,138 | $26,019,477 |
Unity Environmental University New Gloucester, ME | $57,062,200 | $27,891,270 |
Thomas More College Of Liberal Arts Incorporated Merrimack, NH | $7,226,691 | $5,235,090 |
Magdalen College Warner, NH | $4,581,565 | $4,198,746 |
Keene Endowment Association Keene, NH | $12,021,054 | $1,464,084 |
Maine Wesleyan Board Of Education Topsham, ME | $1,135,593 | $36,879 |
New England Baptist Bible College Bangor, ME | $0 | $0 |