Montserrat College Of Art Inc in Beverly, Massachusetts (MA)

Montserrat College Of Art Inc
Employer Identification Number (EIN)	521859814
Name of Organization	Montserrat College Of Art Inc
Address	23 Essex St, Beverly, MA 01915-4508
Subsection	Educational Organization
Ruling Date	08/1993
Deductibility	Contributions are deductible
Foundation	School
Organization	Corporation
Exempt Organization Status	Unconditional Exemption
Tax Period	06/2014
Assets	$10,000,000 to $49,999,999
Income	$10,000,000 to $49,999,999
Filing Requirement	990 (all other) or 990EZ return
Asset Amount	$12,471,793
Amount of Income	$15,025,686
Form 990 Revenue Amount	$14,421,352
National Taxonomy of Exempt Entities (NTEE)	Educational Institutions and Related Activities: Higher Education Institutions

Non-representatives - add comments:

Amount of income in 2014: $15,025,686 (it was $13,613,975 in 2013)

Montserrat College Of Art Inc:	$15,025,686
Other organizations performing similar types of work:	$369,179

Assets in 2014: $12,471,793 (it was $11,880,499 in 2013)

This organization:	$12,471,793
Other organizations performing similar types of work:	$657,741

Expenses in 2013: $13,952,714

Montserrat College Of Art Inc:	$13,952,714
Other organizations performing similar types of work:	$396,711

Income to expenses ratio in 2013: 1.1

This organization:	1.1
Other organizations performing similar types of work:	1.1

Number of employees in 2013: 310

This organization:	310
Other organizations performing similar types of work:	6

Employees paid over $100,000 in 2013: 1.6%

Montserrat College Of Art Inc:	1.6%
Other organizations performing similar types of work:	0.0%

Grants share in income in 2013: 5.4%

This organization:	5.4%
Other organizations performing similar types of work:	46.4%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

	2012	2013
Checklist
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?	Yes	Yes
Is the organization required to complete Schedule B, Schedule of Contributors?	Yes	Yes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?	No	No
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?	No	No
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?	No	No
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?	No	No
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?	No	No
Did the organization maintain collections of works of art, historical treasures, or other similar assets?	No	Yes
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?	No	No
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?	Yes	Yes
Did the organization report an amount for land, buildings, and equipment?	Yes	Yes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?	No	No
Did the organization report an amount for investments-program related that is 5% or more of its total assets?	No	No
Did the organization report an amount for other assets that is 5% or more of its total assets?	No	No
Did the organization report an amount for other liabilities?	Yes	Yes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?	Yes	Yes
Did the organization obtain separate, independent audited financial statements for the tax year?	Yes	Yes
Was the organization included in consolidated, independent audited financial statements for the tax year?	No	No
Is the organization a school described in section 170(b)(1)(A)(ii)?	Yes	Yes
Did the organization maintain an office, employees, or agents outside of the United States?	No	No
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?	Yes	Yes
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?	No	No
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?	No	No
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?	No	No
Did the organization report more than $15,000 total of fundraising event gross income and contributions?	Yes	Yes
Did the organization report more than $15,000 of gross income from gaming activities?	No	No
Did the organization operate one or more hospital facilities?	No	No
Did the organization attach a copy of its audited financial statements?	No	No
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?	No	No
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?	Yes	Yes
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?	Yes	Yes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?	No	No
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?	No	No
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?	No	No
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?	No	No
Did the organization engage in an excess benefit transaction with a disqualified person during the year?	No	No
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?	No	No
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?	No	No
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?	No	No
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?	Yes	Yes
A family member of a current or former officer, director, trustee, or key employee?	No	No
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?	Yes	Yes
Did the organization receive more than $25,000 in non-cash contributions?	No	Yes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?	No	No
Did the organization liquidate, terminate, or dissolve and cease operations?	No	No
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?	No	No
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?	No	No
Was the organization related to any tax-exempt or taxable entity?	No	No
Did the organization have a controlled entity within the meaning of section 512(b)(13)?	No	No
Did the organization make any transfers to an exempt non-charitable related organization?	No	No
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?	No	No

	2011	2012	2013
Statements Regarding Other IRS Filings and Tax Compliance
The number reported in Box 3 of Form 1096		65	58
The number of Forms W-2G		0	0
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?		No	No
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return		306	310
Did the organization file all required federal employment tax returns?		Yes	Yes
Did the organization have unrelated business gross income of $1,000 or more during the year?	No	No	No
Has it filed a Form 990-T for this year?		No	No
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?		No	No
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?		No	No
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?		No	No
Did the organization file Form 8886-T?		No	No
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?		No	No
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?		No	No
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?		Yes	Yes
Did the organization notify the donor of the value of the goods or services provided?		Yes	Yes
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?		No	No
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?		No	No
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?		No	No
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?		No	No
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?		No	No
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?		No	No
Did the sponsoring organization make any taxable distributions under section 4966?		No	No
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?		No	No
Initiation fees and capital contributions	$0	$0	$0
Gross receipts for public use of club facilities	$0	$0	$0
Gross income from members or shareholders	$0	$0	$0
Gross income from other sources	$0	$0	$0
Is the organization filing Form 990 in lieu of Form 1041?		No	No
The amount of tax-exempt interest received or accrued during the year		$0	$0
Is the organization licensed to issue qualified health plans in more than one state?		No	No
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans		$0	$0
The amount of reserves on hand		$0	$0
Did the organization receive any payments for indoor tanning services during the tax year?		No	No
Has it filed a Form 720 to report these payments?		No	No

	2012	2013
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization	$456,388	$615,900
Total reportable compensation from related organizations	$0	$0
Total estimated amount of other compensation from the organization and related organizations	$42,675	$84,246
Total number of individuals who received more than $100,000 of reportable compensation from the organization	3	4
Total number of independent contractors who received more than $100,000 of compensation from the organization	1	1

	2011	2012	2013
Statement of Revenue
Total revenue	$0	$13,108,855	$13,613,975
Contributions, Gifts, Grants and Other Similar Amounts	$0	$676,139	$729,046
Program Service Revenue	$0	$12,203,873	$12,607,809
Educational Support Services		$9,505,644	$9,755,559
Educational Support Services		$1,763,543	$1,888,435
Educational Support Services		$598,076	$591,805
Educational Support Services		$221,960	$280,010
Educational Support Services		$114,650	$92,000
All other program service revenue		$0	$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)	$0	$18,831	$11,289
Income from investment of tax-exempt bond proceeds	$0	$0	$0
Royalties	$0	$0	$0
Net rental income	$0	$0	$0
Net gain/loss from sales of assets other than inventory	$0	$-599	$2,440
Gross amount from sales of assets other than inventory (Securities / Other)	$0 / $0	$175,144 / $0	$848,308 / $0
Less: cost or other basis and sales expenses (Securities / Other)	$0 / $0	$175,743 / $0	$845,868 / $0
Gain or (loss) (Securities / Other)	$0 / $0	$-599 / $0	$2,440 / $0
Net income/loss from fundraising events	$0	$178,302	$207,572
Gross income from fundraising events	$0	$300,949	$349,696
Less: direct expenses	$0	$122,647	$142,124
Net income/loss from gaming activities	$0	$0	$0
Net income/loss from sales of inventory	$0	$0	$0
Miscellaneous Revenue	$0	$32,309	$55,819
Educational Support Services		$32,309	$55,819
All other revenue		$0	$0

	2011	2012	2013
Statement of Functional Expenses
Total functional expenses	$0	$13,120,639	$13,952,714
Grants and other assistance to domestic organizations and domestic governments		$0	$0
Grants and other assistance to domestic individuals		$3,496,374	$3,767,541
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals		$0	$0
Benefits paid to or for members		$0	$0
Compensation of current officers, directors, trustees, and key employees	$0	$572,821	$615,900
Compensation not included above, to disqualified persons		$0	$0
Other salaries and wages	$0	$4,317,134	$4,386,091
Pension plan accruals and contributions		$0	$0
Other employee benefits		$555,528	$609,436
Payroll taxes	$0	$366,470	$405,327
Fees for services (non-employees)
Management		$0	$0
Legal		$6,325	$3,156
Accounting		$37,250	$39,440
Lobbying		$0	$0
Professional fundraising services	$0	$0	$0
Investment management fees		$4,569	$3,875
Other		$133,904	$280,981
Advertising and promotion		$270,584	$271,272
Office expenses		$390,273	$216,401
Information technology		$208,988	$139,908
Royalties		$0	$0
Occupancy		$1,119,305	$664,800
Travel		$360,148	$422,734
Payments of travel or entertainment expenses for any federal, state, or local public officials		$0	$0
Conferences, conventions, and meetings		$0	$0
Interest		$397,783	$341,360
Payments to affiliates		$0	$0
Depreciation, depletion, and amortization		$532,943	$537,764
Insurance		$235,377	$206,453
Other expenses		$114,863	$686,582
Other expenses		$0	$171,703
Other expenses		$0	$82,580
Other expenses		$0	$73,009
Other expenses		$0	$26,401

	2011	2012	2013
Balance Sheet
Total assets	$0	$12,674,911	$11,880,499
Cash - non-interest-bearing		$89,202	$24,622
Savings and temporary cash investments		$16,428	$171,428
Pledges and grants receivable, net		$632,627	$209,204
Accounts receivable, net		$102,296	$231,899
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees		$0	$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations		$0	$0
Notes and loans receivable, net		$0	$0
Inventories for sale or use		$0	$0
Prepaid expenses and deferred charges		$261,891	$237,663
Land, buildings, and equipment: cost or other basis		$10,947,129	$10,528,464
Investments - publicly traded securities		$625,338	$477,219
Investments - other securities		$0	$0
Investments - program-related		$0	$0
Intangible assets		$0	$0
Other assets		$0	$0
Total liabilities	$0	$9,097,770	$8,651,351
Accounts payable and accrued expenses		$516,732	$465,713
Grants payable		$0	$0
Deferred revenue		$390,675	$459,877
Tax-exempt bond liabilities	$0	$0	$0
Escrow or custodial account liability		$0	$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons		$0	$0
Secured mortgages and notes payable to unrelated third parties	$0	$8,062,534	$7,575,517
Unsecured notes and loans payable to unrelated third parties	$0	$0	$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)		$127,829	$150,244
Total net assets or fund balances	$0	$3,577,141	$3,229,148
Unrestricted net assets		$2,421,896	$2,387,702
Temporarily restricted net assets		$641,042	$323,537
Permanently restricted net assets		$514,203	$517,909
Capital stock or trust principal, or current funds		$0	$0
Paid-in or capital surplus, or land, building, or equipment fund		$0	$0
Retained earnings, endowment, accumulated income, or other funds	$0	$0	$0

Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:	A school described in section 170(b)(1)(A)(ii)
Number of organizations supported	0
Sum of amounts of support	$0

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Id	Name	Address	State	Established	Total Income
Organizations performing similar types of work
1	Montserrat College Of Art Inc	23 Essex St, Beverly, MA 01915-4508	MA	1993-08	$15,025,686
2	William J Brennan Jr Center For Justice Inc, Brennan Center For Justice	161 Avenue Of The Americas, New York, NY 10013-1205	NY	1995-09	$9,066,165
3	Dr Rc Samanta Roy Institute Of Science And Technology Inc	PO BOX 11768, Green Bay, WI 54307-1768	WI	1996-01	$7,980,001
4	Urban College Of Boston A Two Year College Inc	178 Tremont St, Boston, MA 02111-1006	MA	1998-09	$2,967,827
5	South Carolina Independent Colleges And Universities Inc	PO BOX 12007, Columbia, SC 29211-2007	SC	1955-06	$2,211,115
6	Lion Athletic Association	Slu Box 10293, Hammond, LA 70402-0001	LA	1993-08	$1,729,570
7	Warren-Forest Higher Education Council Inc	589 Hospital Dr Ste F, Warren, PA 16365-4875	PA	1985-10	$1,499,826
8	Puget Sound Christian College	2610 Wetmore Ave, Everett, WA 98201-2927	WA	1952-08	$611,261
9	Kernel University	3321 W Lincoln Ave, Anaheim, CA 92801-6019	CA	1996-07	$397,313
10	Settlement College Readiness Program	237 E 104th St, New York, NY 10029-5404	NY	1981-10	$338,236
11	Trustees Association Community Colleges	PO BOX 42495, Olympia, WA 98504-2495	WA	1998-02	$229,142
12	Truth Theological Seminary	141 E Duarte Rd, Arcadia, CA 91006-3935	CA	1998-07	$210,643
13	Directors Of Educational Technology In California Higher Edcuation	3401 Adams Ave Suite A, San Diego, CA 92116-2490	CA	1995-12	$99,034
14	Universite Saint-Paul Saint Paul University	Ottawa Ontario K1s1c4 223 Main St, Canada	international	1998-12	$61,509
15	Testamentary Trust First Presbyterian Church Of Ely Trustee	682 Palisades Access Rd, Ely, IA 52227-9717	IA	1995-02	$2,817
16	Start Here	PO BOX 207, Blacksburg, VA 24063-0207	VA	1998-12	$4
17	Bayonne High School Football Association	PO BOX 3022, Bayonne, NJ 07002-0297	NJ	1998-03	$0
18	Building Young Men And Women Of Central Virginia Inc	4237 White St, Lynchburg, VA 24502-1141	VA	1998-09	$0
19	East Coast College	5353 Arlington Expressway Room 410, Jacksonville, FL 32211	FL	1958-07	$0
20	Gateway Career Services Association	16020 Swingley Ridge Road Ste 145, Chesterfied, MO 63017	MO	1992-06	$0

Number of organizations performing similar types of work

Alaska	1
California	4
Colorado	1
Delaware	1
Florida	1
Iowa	1
Illinois	3
Louisiana	1
Massachusetts	2
Missouri	1
Mississippi	1
North Carolina	1
Nebraska	1

New Jersey	1
New York	2
Ohio	1
Oregon	1
Pennsylvania	2
Rhode Island	1
South Carolina	1
Tennessee	1
Texas	1
Virginia	2
Washington	3
Wisconsin	1
International	1

Total

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