MAINE COLLEGE OF ART AND DESIGN (EIN 010378758) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year

1882

Legal Domicile

Principal Officer

ELIZABETH ELICKER

Phone

2076995045

Tax Period

2024-07-01 to 2025-06-30

MAINE COLLEGE OF ART AND DESIGN is a 501(c)(3) with EIN 010378758, based in PORTLAND, ME. Founded in 1882, the organization files IRS Form 990 and reported its most recent data for fiscal year 2024. In that period, it reported $38,594,119 in total revenue and $29,733,021 in total expenses, with net assets of $46,186,300.

Mission

THE COLLEGE'S MISSION IS TO PROVIDE EDUCATION IN FINE ARTS.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $11,967,383

Program Service Revenue $25,607,833

Investment Income $1,003,883

Other Revenue $15,020

TOTAL REVENUE $38,594,119

Expense Breakdown

Grants Paid $8,719,622

Salaries & Benefits $10,651,955

Fundraising Expenses $925,028

Program Expenses $23,019,340

Other Expenses $10,243,010

TOTAL EXPENSES $29,733,021

Year-over-Year Comparison

	2024	2023	Change
Revenue	$38,594,119	$29,795,926	+0.3%
Expenses	$29,733,021	$28,239,876	+0.1%
Net Income	$8,861,098	$1,556,050	+4.7%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

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Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

367

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✓ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,048,321

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATHRYN YATES	CHAIR	2.00	Officer Director	$0	$0	$0
DIANE GATHWAITE	VICE CHAIR	2.00	Officer Director	$0	$0	$0
DEBORAH H DLUHY	DIRECTOR	2.00	Director	$0	$0	$0
MEREDITH KOERNER	DIRECTOR	2.00	Director	$0	$0	$0
SUSAN A ROGERS	DIRECTOR	2.00	Director	$0	$0	$0
JENNY SCHEU	DIRECTOR	2.00	Director	$0	$0	$0
ABIGAIL WARK	DIRECTOR	2.00	Director	$0	$0	$0
DAN BAILIN	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL BOYSON	DIRECTOR	2.00	Director	$0	$0	$0
CHARLES PERRY BUTTERFIELD	DIRECTOR	2.00	Director	$0	$0	$0
JORDAN CAREY	DIRECTOR	2.00	Director	$0	$0	$0
JEANA CHO	DIRECTOR	2.00	Director	$0	$0	$0
JENNIE COYNE	DIRECTOR	2.00	Director	$0	$0	$0
STACEY DIETSCH	DIRECTOR	2.00	Director	$0	$0	$0
KEREM DURDAG	DIRECTOR	2.00	Director	$0	$0	$0
EDWARD FRIEDMAN	DIRECTOR	2.00	Director	$0	$0	$0
KATHRYN KNIGHT-WISE	DIRECTOR	2.00	Director	$0	$0	$0
SUSAN LAMBE	DIRECTOR	2.00	Director	$0	$0	$0
ROBERTA MARCH	DIRECTOR	2.00	Director	$0	$0	$0
MARIANNA PIERCE	DIRECTOR	2.00	Director	$0	$0	$0
DAMIEN SACCANI	DIRECTOR	2.00	Director	$0	$0	$0
GIMBALA SANKARE	DIRECTOR	2.00	Director	$0	$0	$0
KRISTIN VALDMANIS	DIRECTOR	2.00	Director	$0	$0	$0
BRIT VITALIUS	DIRECTOR	2.00	Officer Director	$0	$0	$0
LAURA FREID	PRESIDENT	40.00	Officer	$451,239	$18,174	$469,413
ELIZABETH ELICKER	EXECUTIVE VP	40.00	Officer	$229,690	$18,075	$247,765
IAN ANDERSON	VP ACADEMIC AFFAIRS & DEAN	40.00	Officer	$158,111	$23,338	$181,449
LAURA RETHEFORD	VP OF DEVELOPMENT	40.00	Officer	$133,025	$16,669	$149,694
HOLLY HIGGINS	DIRECTOR OF BUSINESS SERVICES	40.00	Highest	$108,062	$11,229	$119,291
JENNIFER CAMPANARO	DIRECTOR OF ADMISSIONS	40.00	Highest	$107,017	$21,290	$128,307
SETH CLAYTER	DIRECTOR OF TECHNOLOGY	40.00	Highest	$101,610	$5,181	$106,791

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$38,594,119	$29,733,021	$76,106,186	$8,861,098
2024	$29,795,926	$28,239,876	$49,942,890	$1,556,050
2023	$26,110,572	$25,843,831	$47,873,713	$266,741
2022	$29,282,337	$24,932,922	$42,121,529	$4,349,415
2021	$26,019,477	$22,879,402	$42,166,138	$3,140,075
2020	$23,379,343	$23,021,312	$34,539,272	$358,031
2019	$22,339,849	$21,732,886	$32,290,550	$606,963
2018	$22,189,337	$21,898,043	$30,768,389	$291,294

MAINE COLLEGE OF ART AND DESIGN