Form 990 for tax year 2022
Filed by MASSACHUSETTS COLLEGE OF LIBERAL ARTS FOUNDATION INC.
Totals
- Total revenue
- $4,146,067
- Total expenses
- $1,884,151
- Contributions and grants received
- $3,461,383
- Grants paid
- $1,463,813
- Program service revenue
- $0
- Investment income
- $666,316
- Other revenue
- $18,368
- Total assets, end of year
- $26,146,972
- Total liabilities, end of year
- $2,055,129
- Net assets or fund balances, end of year
- $24,091,843
- Program services expenses (Part IX)
- $1,463,813
- Management and general expenses
- $157,854
- Fundraising expenses
- $262,484
- Program service expenses (Part III)
- $1,463,813
Program services were 77.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1c · Fundraising events
$21,386
-
1e · Government grants (contributions)
$727,216
-
1f · All other contributions, gifts and grants
$2,712,781
-
1g · Noncash contributions included above
$58,416
-
3 · Investment income
total $427,036 · excluded $427,036
-
6a · Gross rents
real property $231,132
-
6b · Less rental expenses
real property $214,023
-
6c · Rental income or loss
real property $17,109
-
6d · Net rental income or loss
total $17,109 · related or exempt $27,159 · unrelated business -$10,050
-
7a · Gross sales of assets other than inventory
securities $2,422,566
-
7b · Less cost or other basis and sales expenses
securities $2,183,286
-
7c · Gain or loss
securities $239,280
-
7d · Net gain or loss
total $239,280 · excluded $239,280
-
8a · Fundraising events: gross income
$27,604
-
8a · Fundraising events: contributions included on line 1c
$21,386
-
8b · Fundraising events: direct expenses
$26,345
-
8c · Net income from fundraising events
total $1,259 · excluded $1,259
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $835,460 · program services $835,460
-
2 · Grants to domestic individuals
total $628,353 · program services $628,353
-
11b · Fees: legal
total $250 · management and general $250
-
11c · Fees: accounting
total $23,613 · management and general $23,613
-
11e · Fees: professional fundraising services
total $177,450 · fundraising $177,450
-
11f · Fees: investment management
total $73,521 · management and general $73,521
-
11g · Fees: other
total $4,296 · management and general $4,296
-
12 · Advertising and promotion
total $18,978 · fundraising $18,978
-
13 · Office expenses
total $20,862 · management and general $10,416 · fundraising $10,446
-
17 · Travel
total $11,158 · management and general $2,106 · fundraising $9,052
-
19 · Conferences, conventions and meetings
total $4,738 · management and general $2,358 · fundraising $2,380
-
23 · Insurance
total $6,160 · management and general $6,160
-
24a · Other expenses: SUBSCRIPTIONS, DUES & F
total $57,081 · management and general $12,903 · fundraising $44,178
-
24b · Other expenses: REPAIRS AND MAINTENANCE
total $21,738 · management and general $21,738
-
24c · Other expenses: RE TAXES
total $493 · management and general $493
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $59,862 · end of year $176,799
-
2 · Savings and temporary cash investments
beginning of year $2,061,055 · end of year $3,208,087
-
3 · Pledges and grants receivable
beginning of year $2,632,744 · end of year $3,115,290
-
9 · Prepaid expenses and deferred charges
beginning of year $46,764 · end of year $49,365
-
10a · Land, buildings and equipment: cost or other basis
$5,080,959
-
10b · Land, buildings and equipment: accumulated depreciation
$1,545,566
-
10c · Land, buildings and equipment, net
beginning of year $3,668,192 · end of year $3,535,393
-
12 · Investments: other securities
beginning of year $14,573,975 · end of year $16,062,038
-
17 · Accounts payable and accrued expenses
beginning of year $191,693 · end of year $7,427
-
23 · Secured mortgages and notes payable
beginning of year $1,702,930 · end of year $1,626,677
-
25 · Other liabilities
beginning of year $234,170 · end of year $421,025
-
27 · Net assets without donor restrictions
beginning of year $2,195,414 · end of year $2,335,303
-
28 · Net assets with donor restrictions
beginning of year $18,718,385 · end of year $21,756,540
Mission and programs · 2022
Mission
MASSACHUSETTS COLLEGE OF LIBERAL ARTS FOUNDATION, INC. IS A PRIVATE NON-PROFIT ORGANIZATION DEDICATED TO THE GROWTH, DEVELOPMENT AND SUPPORT OF MASSACHUSETTS COLLEGE OF LIBERAL ARTS AND ITS FACULTY, STAFF AND STUDENTS, WITH SPECIAL EMPHASIS ON ACADEMIC QUALITY AND THE ASSURANCE OF THE ACCESS TO HIGHER EDUCATION THROUGH THE RECEIPT, PROFESSIONAL MANAGEMENT, AND PRUDENT DISBURSEMENT OF FUNDS AND OTHER CHARITABLE CONTRIBUTIONS SECURED THROUGH PRIVATE SOURCES AND GRANT FUNDING.
Activities or mission (Part I)
TO SUPPORT EDUCATIONAL ACTIVITIES
-
TO PROMOTE AND SUPPORT THE EDUCATIONAL AND OTHER LEGAL ACTIVITIES OF MASSACHUSETTS COLLEGE OF LIBERAL ARTS AND TO RENDER FINANCIAL AID TO STUDENTS AT MCLA THROUGH CONTRIBUTIONS FROM THE COMMUNITY, ALUMNI, AND PARENTS.
Expenses $1,463,813 · Grants $1,463,813
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Julie ArnoldJULIE ARNOLD
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Jason DohaneyJASON DOHANEY
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Amy SmithAMY SMITH
CLERK
- Total calculated
- $0
- Hours/week
- 1
-
Robert ZiomekROBERT ZIOMEK
PRESIDENT
- Total calculated
- $177,559
- From this org
- $0
- From related orgs
- $170,148
- Other
- $7,411
- Hours/week
- 37.5
Schedule J breakdown matched by us
- Base
- $0 + $170,148 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0 + $7,411 related
- Filer's total
- $0 + $177,559 related
-
Jamieellen MoncecchiJAMIEELLEN MONCECCHI
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Michael AvisMICHAEL AVIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Mike BarbieriMIKE BARBIERI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Anthony BarbosaANTHONY BARBOSA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Tara BarbozaTARA BARBOZA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Kimberly Boyden-BrionesKIMBERLY BOYDEN-BRIONES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Timothy CherubiniTIMOTHY CHERUBINI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Jean Clarke-MitchellJEAN CLARKE-MITCHELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Anthony DolanANTHONY DOLAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Frances Jones-SneedFRANCES JONES-SNEED
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Mary NashMARY NASH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Charles O'BrienCHARLES O'BRIEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Denise RichardelloDENISE RICHARDELLO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Chrystina Geagan ParksCHRYSTINA GEAGAN PARKS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Colleen P TaylorCOLLEEN P TAYLOR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Judith M WilkinsonJUDITH M WILKINSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
MASSACHUSETTS COLLEGE OF LIBERAL ARTS
$777,044
SUPPORT OF THE COLLEGE AND ITS MISSION.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
MASSACHUSETTS COLLEGE OF LIBERAL ARTS
115 · HIGHER EDUCATION · MA
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 22 March 2024
- IRS schema version
- 2022v5.0
- Source object
- 202421109349300402
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