Maryland Institute
- Assets
- $339.6m
- Revenue
- $94.3m
- Investments
- $16.4m
- Employees
- 1,865
- Location
- Baltimore, MD
- Founding
- 09/1935
- Data as of
- 05/2021
- EIN
- 52-0591661
Organization Overview
Maryland Institute, operating under the name Maryland Institute College Of Art, is located in Baltimore, MD. The organization was established in 1935. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2023, Maryland Institute College Of Art employed 1,865 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maryland Institute College Of Art 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 05/2021, Maryland Institute College Of Art generated $94.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.3%) each year. All expenses for the organization totaled $105.3m during the year ending 05/2021. As we would expect to see with falling revenues, expenses have declined by (0.6%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
DEGREE GRANTING COLLEGE-MARYLAND INSTITUTE COLLEGE OF ART IS A PRIVATE COLLEGE (SEE SCHEDULE O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACCREDITED COLLEGE WITH PROGRAMS IN FINE ARTS, APPLIED ARTS, AND ART EDUCATION; APPROXIMATELY 1,700 STUDENTS, GRANTS ARE DISBURSEMENTS FOR STUDENTS' FINANCIAL AID, STUDENT AWARDS, FELLOWSHIPS, AND FOR FACULTY DEVELOPMENT GRANTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Angelos Trustee | Trustee | 1 | $0 |
James Blue Trustee | Trustee | 1 | $0 |
John Brothers Trustee (as Of 02/18/2022) | Trustee | 1 | $0 |
Amy Brusselback Trustee | Trustee | 1 | $0 |
Jeffrey Bunting Treasurer | Trustee | 1 | $0 |
Judith Burton Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Elsmere Education Inc Professional Services | 5/30/23 | $4,996,732 |
Parkhurst Dining Services Food Service | 5/30/23 | $3,498,689 |
Henry H Lewis Contractors Llc Construction | 5/30/23 | $2,936,056 |
Miller Contracting Llc Construction | 5/30/23 | $1,517,274 |
Willis Towers Watson Southeast Inc Construction | 5/30/23 | $1,410,128 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,759,131 |
| Investment income | $1,485,675 |
| Tax Exempt Bond Proceeds | $19 |
| Royalties | $15,568 |
| Net Rental Income | $93,645 |
| Net Gain/Loss on Asset Sales | $2,773,821 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $94,274,513 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $25,167,416 |
| Grants and other assistance to Foreign Orgs/Individuals | $6,409,429 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,770,823 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $34,837,266 |
| Pension plan accruals and contributions | $481,751 |
| Other employee benefits | $5,080,067 |
| Payroll taxes | $2,509,083 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $167,706 |
| Fees for services: Accounting | $169,273 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $246,663 |
| Fees for services: Other | $2,257,539 |
| Advertising and promotion | $2,049,402 |
| Office expenses | $1,197,890 |
| Information technology | $1,695,590 |
| Royalties | $0 |
| Occupancy | $4,905,202 |
| Travel | $93,852 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $142,936 |
| Interest | $3,402,652 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,135,188 |
| Insurance | $995,258 |
| All other expenses | $0 |
| Total functional expenses | $105,307,187 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,457,825 |
| Pledges and grants receivable | $10,643,395 |
| Accounts receivable, net | $1,136,155 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $435,289 |
| Prepaid expenses and deferred charges | $2,031,249 |
| Investments—publicly traded securities | $133,716,897 |
| Investments—other securities | $16,396,366 |
| Investments—program-related | $863,704 |
| Intangible assets | $0 |
| Other assets | $5,683,294 |
| Total assets | $339,639,271 |
| Accounts payable and accrued expenses | $11,265,251 |
| Grants payable | $0 |
| Deferred revenue | $4,291,572 |
| Tax-exempt bond liabilities | $87,405,433 |
| 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 | $963,570 |
| Total liabilities | $103,925,826 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $235,713,445 |