Totals
- Total revenue
- $120,548,710
- Total expenses
- $124,620,999
- Contributions and grants received
- $11,860,799
- Grants paid
- $37,033,371
- Program service revenue
- $98,278,132
- Investment income
- $8,382,072
- Other revenue
- $2,027,707
- Total assets, end of year
- $317,526,300
- Total liabilities, end of year
- $92,974,746
- Net assets or fund balances, end of year
- $224,551,554
- Program services expenses (Part IX)
- $109,571,766
- Management and general expenses
- $13,069,668
- Fundraising expenses
- $1,979,566
- Program service expenses (Part III)
- $109,571,766
Program services were 87.9% 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.
-
1a · Federated campaigns
$0
-
1b · Membership dues
$0
-
1c · Fundraising events
$0
-
1d · Related organizations
$0
-
1e · Government grants (contributions)
$7,363,965
-
1f · All other contributions, gifts and grants
$4,496,834
-
1g · Noncash contributions included above
$1,910,301
-
2a · Program service revenue: Tuition & Fees
total $85,167,000 · related or exempt $85,167,000 · unrelated business $0 · excluded $0
-
2b · Program service revenue: Dormitories and food service
total $12,403,391 · related or exempt $12,403,391 · unrelated business $0 · excluded $0
-
2c · Program service revenue: Other Auxillary Services
total $707,741 · related or exempt $661,147 · unrelated business $46,594 · excluded $0
-
2d · Program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
2e · Program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $3,160,192 · unrelated business $315,825 · excluded $2,844,367
-
4 · Income from investment of tax-exempt bond proceeds
total $570,567 · unrelated business $0 · excluded $570,567
-
5 · Royalties
total $22,811 · unrelated business $0 · excluded $22,811
-
6a · Gross rents
real property $151,219 · personal property $0
-
6b · Less rental expenses
real property $0 · personal property $0
-
6c · Rental income or loss
real property $151,219 · personal property $0
-
6d · Net rental income or loss
total $151,219 · unrelated business $98,806 · excluded $52,413
-
7a · Gross sales of assets other than inventory
securities $69,084,742 · other assets $0
-
7b · Less cost or other basis and sales expenses
securities $64,433,429 · other assets $0
-
7c · Gain or loss
securities $4,651,313 · other assets $0
-
7d · Net gain or loss
total $4,651,313 · unrelated business $0 · excluded $4,651,313
-
8a · Fundraising events: gross income
$0
-
8a · Fundraising events: contributions included on line 1c
$0
-
8b · Fundraising events: direct expenses
$0
-
8c · Net income from fundraising events
total $0 · unrelated business $0 · excluded $0
-
9a · Gaming: gross income
$0
-
9b · Gaming: direct expenses
$0
-
9c · Net income from gaming
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
10a · Gross sales of inventory
$710,006
-
10b · Cost of goods sold
$424,362
-
10c · Net income from sales of inventory
total $285,644 · unrelated business $0 · excluded $285,644
-
11a · Other revenue: Other Revenue
total $194,387 · related or exempt $194,387 · unrelated business $0 · excluded $0
-
11b · Other revenue: Gain on Extinguishment of Debt
total $1,373,646 · related or exempt $0 · unrelated business $0 · excluded $1,373,646
-
11c · Other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$1,568,033
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $1,919,178 · program services $1,919,178
-
2 · Grants to domestic individuals
total $35,114,193 · program services $35,114,193
-
3 · Grants to foreign organizations and individuals
total $0 · program services $0
-
4 · Benefits paid to or for members
total $0 · program services $0
-
5 · Compensation of officers, directors and key employees
total $2,972,536 · program services $1,085,008 · management and general $1,469,190 · fundraising $418,338
-
7 · Other salaries and wages
total $36,872,815 · program services $32,273,634 · management and general $3,685,085 · fundraising $914,096
-
8 · Pension plan contributions
total $2,136,790 · program services $1,861,988 · management and general $230,774 · fundraising $44,028
-
9 · Other employee benefits
total $3,870,997 · program services $3,262,277 · management and general $497,618 · fundraising $111,102
-
10 · Payroll taxes
total $2,714,148 · program services $2,251,241 · management and general $373,034 · fundraising $89,873
-
11a · Fees: management
total $0 · program services $0 · management and general $0 · fundraising $0
-
11b · Fees: legal
total $225,333 · program services $22,744 · management and general $201,689 · fundraising $900
-
11c · Fees: accounting
total $215,300 · program services $0 · management and general $215,300 · fundraising $0
-
11d · Fees: lobbying
total $0 · program services $0 · management and general $0 · fundraising $0
-
11e · Fees: professional fundraising services
total $0 · fundraising $0
-
11f · Fees: investment management
total $155,725 · program services $0 · management and general $155,725 · fundraising $0
-
11g · Fees: other
total $3,884,671 · program services $2,657,040 · management and general $1,217,077 · fundraising $10,554
-
12 · Advertising and promotion
total $3,209,499 · program services $2,083,994 · management and general $1,113,105 · fundraising $12,400
-
13 · Office expenses
total $2,165,638 · program services $1,501,418 · management and general $565,811 · fundraising $98,409
-
14 · Information technology
total $2,681,864 · program services $1,209,141 · management and general $1,413,580 · fundraising $59,143
-
15 · Royalties
total $0 · program services $0 · management and general $0 · fundraising $0
-
16 · Occupancy
total $6,586,238 · program services $6,232,387 · management and general $323,543 · fundraising $30,308
-
17 · Travel
total $784,534 · program services $652,613 · management and general $113,182 · fundraising $18,739
-
18 · Travel or entertainment for public officials
total $0 · program services $0 · management and general $0 · fundraising $0
-
19 · Conferences, conventions and meetings
total $675,664 · program services $487,793 · management and general $106,864 · fundraising $81,007
-
20 · Interest
total $3,399,862 · program services $3,222,219 · management and general $141,776 · fundraising $35,867
-
21 · Payments to affiliates
total $0 · program services $0 · management and general $0 · fundraising $0
-
22 · Depreciation, depletion and amortization
total $8,491,378 · program services $7,521,726 · management and general $920,149 · fundraising $49,503
-
23 · Insurance
total $2,766,282 · program services $2,673,253 · management and general $88,331 · fundraising $4,698
-
24a · Other expenses: AUXILIARY-OTHER
total $2,430,802 · program services $2,430,802 · management and general $0 · fundraising $0
-
24b · Other expenses: BAD DEBT
total $768,875 · program services $768,875
-
24c · Other expenses: DUES AND MEMBERSHIPS
total $265,594 · program services $79,290 · management and general $186,150 · fundraising $154
-
24d · Other expenses: STUDENT SERVICES
total $76,412 · program services $76,412
-
24e · All other expenses
total $236,671 · program services $184,540 · management and general $51,685 · fundraising $446
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $0 · end of year $0
-
2 · Savings and temporary cash investments
beginning of year $19,961,538 · end of year $13,860,540
-
3 · Pledges and grants receivable
beginning of year $5,552,164 · end of year $3,940,128
-
4 · Accounts receivable
beginning of year $3,471,220 · end of year $3,700,712
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $0 · end of year $0
-
8 · Inventories for sale or use
beginning of year $337,351 · end of year $306,738
-
9 · Prepaid expenses and deferred charges
beginning of year $2,345,504 · end of year $2,240,968
-
10a · Land, buildings and equipment: cost or other basis
$283,086,143
-
10b · Land, buildings and equipment: accumulated depreciation
$132,636,882
-
10c · Land, buildings and equipment, net
beginning of year $156,355,215 · end of year $150,449,261
-
11 · Investments: publicly traded securities
beginning of year $101,398,123 · end of year $92,637,978
-
12 · Investments: other securities
beginning of year $25,218,010 · end of year $27,676,831
-
13 · Investments: program-related
beginning of year $0
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $6,628,170 · end of year $22,713,144
-
17 · Accounts payable and accrued expenses
beginning of year $10,463,560 · end of year $10,277,015
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $2,827,260 · end of year $3,540,404
-
20 · Tax-exempt bond liabilities
beginning of year $81,795,975 · end of year $78,958,457
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $0 · end of year $0
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $481,781 · end of year $198,870
-
27 · Net assets without donor restrictions
beginning of year $122,667,020 · end of year $119,647,493
-
28 · Net assets with donor restrictions
beginning of year $103,031,699 · end of year $104,904,061
Mission and programs · 2024
Mission
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.
-
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.
Expenses $109,571,766 · Grants $37,033,371 · Revenue $98,472,519
As filed on the 2024 return.
Listed in Part VII
-
Cecilia McCormickCECILIA MCCORMICK
PRESIDENT
- Total calculated
- $591,376
- From this org
- $535,117
- From related orgs
- $0
- Other
- $56,259
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $522,906
- Bonus
- $0
- Other
- $12,211
- Deferred
- $30,880
- Nontaxable benefits
- $25,379
- Filer's total
- $591,376
-
Amy BrusselbackAMY BRUSSELBACK
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Anne GarfinkleANNE GARFINKLE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Anne PerkinsANNE PERKINS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Bonnie WashingtonBONNIE WASHINGTON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
David WallackDAVID WALLACK
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Diane ChoDIANE CHO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Douglas TsuiDOUGLAS TSUI
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Eric JordahlERIC JORDAHL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Fredye Wright GrossFREDYE WRIGHT GROSS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Gwen DavidsonGWEN DAVIDSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
James BlueJAMES BLUE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Jeffrey BuntingJEFFREY BUNTING
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
John AngelosJOHN ANGELOS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
John BrothersJOHN BROTHERS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Judith BurtonJUDITH BURTON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Juliana HarrisJULIANA HARRIS
TRUSTEE (UNTIL 10/18/2024)
- Total calculated
- $0
- Hours/week
- 1
-
Katherine Sieh-TakataKATHERINE SIEH-TAKATA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Liza SanchezLIZA SANCHEZ
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Neil MeyerhoffNEIL MEYERHOFF
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Ronald FidlerRONALD FIDLER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Scott HaberSCOTT HABER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Sheela MurthySHEELA MURTHY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Stuart ClarkeSTUART CLARKE
TRUSTEE (UNTIL 10/18/2024)
- Total calculated
- $0
- Hours/week
- 1
-
Stuart CooperSTUART COOPER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Thibault ManekinTHIBAULT MANEKIN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Wendy JachmanWENDY JACHMAN
TRUSTEE (UNITL 10/18/2024)
- Total calculated
- $0
- Hours/week
- 1
-
Daniel A CroninDANIEL A CRONIN
EVP FOR FINANCE AND CFO
- Total calculated
- $321,036
- From this org
- $288,896
- From related orgs
- $0
- Other
- $32,140
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $288,896
- Bonus
- $0
- Other
- $0
- Deferred
- $24,868
- Nontaxable benefits
- $7,272
- Filer's total
- $321,036
-
Donald JonesDONALD JONES
VP ADVANCEMENT
- Total calculated
- $380,209
- From this org
- $331,657
- From related orgs
- $0
- Other
- $48,552
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $301,321
- Bonus
- $30,336
- Other
- $0
- Deferred
- $30,197
- Nontaxable benefits
- $18,355
- Filer's total
- $380,209
-
Judith KinneyJUDITH KINNEY
VP STUDENT AFFAIRS
- Total calculated
- $208,037
- From this org
- $186,593
- From related orgs
- $0
- Other
- $21,444
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $186,593
- Bonus
- $0
- Other
- $0
- Deferred
- $17,103
- Nontaxable benefits
- $4,341
- Filer's total
- $208,037
-
Robert SabalROBERT SABAL
VP ACADEMIC AFFAIRS AND PROVOST
- Total calculated
- $432,022
- From this org
- $401,161
- From related orgs
- $0
- Other
- $30,861
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $270,689
- Bonus
- $0
- Other
- $130,472
- Deferred
- $22,186
- Nontaxable benefits
- $8,675
- Filer's total
- $432,022
-
Christian LalloCHRISTIAN LALLO
VP STRATEGIC COMM
- Total calculated
- $200,696
- From this org
- $176,726
- From related orgs
- $0
- Other
- $23,970
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $176,726
- Bonus
- $0
- Other
- $0
- Deferred
- $13,942
- Nontaxable benefits
- $10,028
- Filer's total
- $200,696
-
Lee DavisLEE DAVIS
CO-EXEC DIR, CENTER FOR CREATIVE IMPACT
- Total calculated
- $189,310
- From this org
- $165,831
- From related orgs
- $0
- Other
- $23,479
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $165,331
- Bonus
- $500
- Other
- $0
- Deferred
- $13,657
- Nontaxable benefits
- $9,822
- Filer's total
- $189,310
-
Michael S WeikertMICHAEL S WEIKERT
CO-EXEC DIR, CENTER FOR CREATIVE IMPACT
- Total calculated
- $220,870
- From this org
- $191,018
- From related orgs
- $0
- Other
- $29,852
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $191,018
- Bonus
- $0
- Other
- $0
- Deferred
- $17,757
- Nontaxable benefits
- $12,095
- Filer's total
- $220,870
-
Shanna HinesSHANNA HINES
VP OF HR
- Total calculated
- $310,623
- From this org
- $275,466
- From related orgs
- $0
- Other
- $35,157
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $275,466
- Bonus
- $0
- Other
- $0
- Deferred
- $25,184
- Nontaxable benefits
- $9,973
- Filer's total
- $310,623
-
Stacey SalazarSTACEY SALAZAR
VP GRADUATE STUDIES
- Total calculated
- $199,964
- From this org
- $167,338
- From related orgs
- $0
- Other
- $32,626
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $167,338
- Bonus
- $0
- Other
- $0
- Deferred
- $14,273
- Nontaxable benefits
- $18,353
- Filer's total
- $199,964
-
Alexandra KimALEXANDRA KIM
FORMER VP OPERATIONS AND TECHNOLOGY
- Total calculated
- $294,156
- From this org
- $269,102
- From related orgs
- $0
- Other
- $25,054
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $148,560
- Bonus
- $0
- Other
- $120,542
- Deferred
- $13,894
- Nontaxable benefits
- $11,160
- Filer's total
- $294,156
-
Martin Lemelle JrMARTIN LEMELLE JR
FORMER EVP FOR FINANCE AND CFO
- Total calculated
- $163,951
- From this org
- $147,961
- From related orgs
- $0
- Other
- $15,990
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $147,961
- Bonus
- $0
- Other
- $0
- Deferred
- $12,923
- Nontaxable benefits
- $3,067
- Filer's total
- $163,951
-
Michael PattersonMICHAEL PATTERSON
FORMER VP STUDENT AFFAIRS
- Total calculated
- $206,853
- From this org
- $185,225
- From related orgs
- $0
- Other
- $21,628
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $103,903
- Bonus
- $0
- Other
- $81,322
- Deferred
- $9,691
- Nontaxable benefits
- $11,937
- Filer's total
- $206,853
-
Samuel HoiSAMUEL HOI
FORMER PRESIDENT
- Total calculated
- $725,353
- From this org
- $717,651
- From related orgs
- $0
- Other
- $7,702
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $81,306
- Bonus
- $0
- Other
- $636,345
- Deferred
- $7,324
- Nontaxable benefits
- $378
- Filer's total
- $725,353
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
- 1a · Tax indemnification and gross-up payments
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Independent compensation consultant
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 4a · Severance or change-of-control payment
Answered no
- 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
The filer's explanations (Part III)
- Schedule J, Part I, Line 1a Tax indemnification and gross-up payments
- THE PRESIDENT OF THE COLLEGE RECEIVED A STIPEND FOR PERIODIC AND REASONABLE TRAVEL EXPENSES, WHICH WAS TREATED AS TAXABLE COMPENSATION.
- Schedule J, Part I, Line 4a Severance or change-of-control payment
- SEVERANCE PAYMENTS WERE MADE TO THE FOLLOWING LISTED PERSONS: SAMUEL HOI: $636,345 ROBERT SABAL: $130,472 ALEXANDRA KIM: $120,542 MICHAEL PATTERSON: $81,322 BRIGITTE SULLIVAN: $102,072
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
-
$1,250,000
CAPITAL - CONSTRUCTION OF EMPOWERMENT AND WELLNESS CENTER
-
CENTRAL BALTIMORE PARTNERSHIP INC
$469,178
COMMUNITY DEVELOPMENT
-
$200,000
COMMUNITY DEVELOPMENT
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
MARYLAND INSTITUTE POOLED INCOME FUND
Trust · ANNUITY · MD
-
CHARITABLE REMAINDER TRUSTS (4)
Trust · ANNUITY · MD
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 14 April 2026
- IRS schema version
- 2024v5.1
- Source object
- 202641049349301209
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.