Maryland Institute (EIN 520591661) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1826

Legal Domicile

Phone

4102252352

Tax Period

2024-06-01 to 2025-05-31

Maryland Institute, founded in 1826, is a major nonprofit in the Education sector that reported $120.5M in total revenue in fiscal year 2024. Revenue decreased 10% compared to the prior year.

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.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $11,860,799

Program Service Revenue $98,278,132

Investment Income $8,382,072

Other Revenue $2,027,707

TOTAL REVENUE $120,548,710

Expense Breakdown

Grants Paid $37,033,371

Salaries & Benefits $48,567,286

Fundraising Expenses $1,979,566

Program Expenses $109,571,766

Other Expenses $39,020,342

TOTAL EXPENSES $124,620,999

Year-over-Year Comparison

	2024	2023	Change
Revenue	$120,548,710	$134,606,537	-0.1%
Expenses	$124,620,999	$445,622,588	-0.7%
Net Income	$-4,072,289	$-311,016,051	-1.0%

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

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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

2017

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

$1,292,621

Total Directors

$591,376

Key Employees

$640,059

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CECILIA MCCORMICK	PRESIDENT	40.0	Officer Director	$535,117	$56,259	$591,376
AMY BRUSSELBACK	TRUSTEE	1.0	Director	$0	$0	$0
ANNE GARFINKLE	TRUSTEE	1.0	Director	$0	$0	$0
ANNE PERKINS	TRUSTEE	1.0	Director	$0	$0	$0
BONNIE WASHINGTON	TRUSTEE	1.0	Director	$0	$0	$0
DAVID WALLACK	TRUSTEE	1.0	Director	$0	$0	$0
DIANE CHO	TRUSTEE	1.0	Director	$0	$0	$0
DOUGLAS TSUI	TRUSTEE	1.0	Director	$0	$0	$0
ERIC JORDAHL	TRUSTEE	1.0	Director	$0	$0	$0
FREDYE WRIGHT GROSS	TRUSTEE	1.0	Director	$0	$0	$0
GWEN DAVIDSON	TRUSTEE	1.0	Director	$0	$0	$0
JAMES BLUE	TRUSTEE	1.0	Director	$0	$0	$0
JEFFREY BUNTING	TRUSTEE	1.0	Director	$0	$0	$0
JOHN ANGELOS	TRUSTEE	1.0	Director	$0	$0	$0
JOHN BROTHERS	TRUSTEE	1.0	Director	$0	$0	$0
JUDITH BURTON	TRUSTEE	1.0	Director	$0	$0	$0
JULIANA HARRIS	TRUSTEE (UNTIL 10/18/2024)	1.0	Director	$0	$0	$0
KATHERINE SIEH-TAKATA	TRUSTEE	1.0	Director	$0	$0	$0
LIZA SANCHEZ	TRUSTEE	1.0	Director	$0	$0	$0
NEIL MEYERHOFF	TRUSTEE	1.0	Director	$0	$0	$0
RONALD FIDLER	TRUSTEE	1.0	Director	$0	$0	$0
SCOTT HABER	TRUSTEE	1.0	Director	$0	$0	$0
SHEELA MURTHY	TRUSTEE	1.0	Director	$0	$0	$0
STUART CLARKE	TRUSTEE (UNTIL 10/18/2024)	1.0	Director	$0	$0	$0
STUART COOPER	TRUSTEE	1.0	Director	$0	$0	$0
THIBAULT MANEKIN	TRUSTEE	1.0	Director	$0	$0	$0
WENDY JACHMAN	TRUSTEE (UNITL 10/18/2024)	1.0	Director	$0	$0	$0
DANIEL A CRONIN	EVP FOR FINANCE AND CFO	40.0	Officer	$288,896	$32,140	$321,036
DONALD JONES	VP ADVANCEMENT	40.0	Officer	$331,657	$48,552	$380,209
JUDITH KINNEY	VP STUDENT AFFAIRS	40.0	Key Emp	$186,593	$21,444	$208,037
ROBERT SABAL	VP ACADEMIC AFFAIRS AND PROVOST	40.0	Key Emp	$401,161	$30,861	$432,022
CHRISTIAN LALLO	VP STRATEGIC COMM	40.0	Highest	$176,726	$23,970	$200,696
LEE DAVIS	CO-EXEC DIR, CENTER FOR CREATIVE IMPACT	40.0	Highest	$165,831	$23,479	$189,310
MICHAEL S WEIKERT	CO-EXEC DIR, CENTER FOR CREATIVE IMPACT	40.0	Highest	$191,018	$29,852	$220,870
SHANNA HINES	VP OF HR	40.0	Highest	$275,466	$35,157	$310,623
STACEY SALAZAR	VP GRADUATE STUDIES	40.0	Highest	$167,338	$32,626	$199,964
ALEXANDRA KIM	FORMER VP OPERATIONS AND TECHNOLOGY	40.0		$269,102	$25,054	$294,156
MARTIN LEMELLE JR	FORMER EVP FOR FINANCE AND CFO	40.0		$147,961	$15,990	$163,951
MICHAEL PATTERSON	FORMER VP STUDENT AFFAIRS	40.0		$185,225	$21,628	$206,853
SAMUEL HOI	FORMER PRESIDENT	40.0		$717,651	$7,702	$725,353

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	$120,548,710	$124,620,999	$317,526,300	$-4,072,289
2024	$134,606,537	$126,122,588	$321,267,295	$8,483,949
2023	$122,163,054	$122,581,866	$319,808,678	$-418,812
2022	$138,711,160	$127,947,996	$329,055,533	$10,763,164
2021	$94,274,513	$105,307,187	$339,639,271	$-11,032,674
2020	$136,443,462	$129,224,288	$324,696,375	$7,219,174
2019	$126,448,964	$122,669,587	$317,603,083	$3,779,377
2018	$129,249,865	$117,449,171	$314,778,737	$11,800,694

Maryland Institute