MONTSERRAT COLLEGE OF ART INC

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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

1992

Legal Domicile

Principal Officer

LISA SHAWNEY

Phone

9789214242

Tax Period

2023-07-01 to 2024-06-30

MONTSERRAT COLLEGE OF ART INC, founded in 1992, is a mid-sized nonprofit in the Education sector that reported $14.0M in total revenue in fiscal year 2023. Revenue decreased 12% compared to the prior year. Expenses of $16.1M exceeded revenue, resulting in a 15% operating deficit.

Mission

COLLECTION ITEMS ACQUIRED EITHER THROUGH PURCHASE OR DONATION ARE NOT CAPITALIZED. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IF PURCHASED WITH UNRESTRICTED ASSETS AND AS DECREASES IN TEMPORARILY RESTRICTED OR PERMANENTLY RESTRICTED NET ASSETS IF PURCHASED WITH DONOR-RESTRICTED ASSETS. CONTRIBUTIONS OF COLLECTION ITEMS ARE NOT RECOGNIZED IN THE STATEMENT OF ACTIVITIES. PROCEEDS FROM DEACQUISITIONS OR INSURANCE RECOVERIES ARE REFLECTED ON THE STATEMENT OF ACTIVITIES BASED ON THE ABSENCE OR EXISTENCE AND NATURE OF DONOR-IMPOSED RESTRICTIONS.

Program Service Accomplishments

Program 1

Expenses: $12,169,795 Revenue: $12,633,653

MONTSERRAT HAS AN ACTIVE STUDENT BODY OF 360+ STUDENTS AS OF FALL 2023 AND EMPLOYS 70+ FACULTY MEMBERS. ITS SMALL SIZE ALLOWS FOR MORE ACADEMIC ATTENTION TO THE PROGRESS OF EACH INDIVIDUAL STUDENT...

MONTSERRAT HAS AN ACTIVE STUDENT BODY OF 360+ STUDENTS AS OF FALL 2023 AND EMPLOYS 70+ FACULTY MEMBERS. ITS SMALL SIZE ALLOWS FOR MORE ACADEMIC ATTENTION TO THE PROGRESS OF EACH INDIVIDUAL STUDENT. WE BELIEVE IN PREPARING OUR STUDENTS FOR SUCCESSFUL, ENJOYABLE CAREERS IN CREATIVE FIELDS. THAT'S WHY WE INCORPORATE EXPERIENCE-BASED LEARNING INTO OUR CURRICULUM AND ASSIST STUDENTS WITH FINDING MEANINGFUL INTERNSHIPS THAT MOST COMPLETE DURING THEIR JUNIOR YEAR. MONTSERRAT COLLEGE OF ART OFFERS A WIDE VARIETY OF ART, DESIGN AND WRITING PROGRAMS IN A STUDENT-CENTERED ENVIRONMENT THAT'S RIGOROUS, AND COLLABORATIVE.

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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 (2023)

Revenue Breakdown

Contributions & Grants $936,653

Program Service Revenue $12,633,653

Investment Income $143,261

Other Revenue $323,928

TOTAL REVENUE $14,037,495

Expense Breakdown

Grants Paid $4,787,872

Salaries & Benefits $6,267,482

Fundraising Expenses $141,419

Program Expenses $12,169,795

Other Expenses $5,091,956

TOTAL EXPENSES $16,147,310

Year-over-Year Comparison

	2023	2022	Change
Revenue	$14,037,495	$15,865,147	-0.1%
Expenses	$16,147,310	$16,133,010	+0.0%
Net Income	$-2,109,815	$-267,863	+6.9%

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

259

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

$410,719

Total Directors

$68,347

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Brian Pellinen	PRESIDENT	40.0	Officer	$216,646	$20,860	$237,506
Lisa Shawney	CFO	40.0	Officer	$153,715	$19,498	$173,213
Blyth Hazen	TRUSTEE - FACULTY REP	40.0	Director	$59,296	$9,051	$68,347
Mercedes Sherrod Evans	CHAIR	1.0	Officer Director	$0	$0	$0
Dr Michael J Belliveau	VICE CHAIR	1.0	Officer Director	$0	$0	$0
Katherine B Winter	TRUSTEE	1.0	Director	$0	$0	$0
Josue Bessiake	TRUSTEE	1.0	Director	$0	$0	$0
Sarah Dineen	TRUSTEE	1.0	Director	$0	$0	$0
Ken Mastrocola	TRUSTEE	1.0	Director	$0	$0	$0
Robert Hart Jr	TREASURER	1.0	Officer Director	$0	$0	$0
David Shopper	TRUSTEE	1.0	Director	$0	$0	$0
Chris Koeplin	TRUSTEE	1.0	Director	$0	$0	$0
Dr Tony Laing	TRUSTEE	1.0	Director	$0	$0	$0
Tyson J Lynch	TRUSTEE	1.0	Director	$0	$0	$0
Dr Velda McRae-Yates	TRUSTEE	1.0	Director	$0	$0	$0
January O'Neil	TRUSTEE	1.0	Director	$0	$0	$0
Mags Harries	TRUSTEE	1.0	Director	$0	$0	$0
Barbara Schaye	TRUSTEE	1.0	Director	$0	$0	$0
John Sutyak	SECRETARY	1.0	Officer Director	$0	$0	$0

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	No data	No data	No data	No data
2024	$14,037,495	$16,147,310	$19,852,624	$-2,109,815
2023	$15,865,147	$16,133,010	$21,311,238	$-267,863
2022	$17,190,540	$17,016,825	$17,112,239	$173,715
2021	$17,973,351	$16,002,350	$16,506,023	$1,971,001
2020	$15,694,570	$15,361,556	$15,016,205	$333,014
2019	$15,937,582	$15,208,170	$13,630,343	$729,412
2018	$14,898,736	$14,485,724	$13,090,638	$413,012