Overview
What is Maryland Institute?
The Maryland Institute, also known as Maryland Institute College of Art, is a renowned education institution based in Baltimore, Maryland. With approximately 1,800 students and a workforce of 1,673 employees, this degree-granting college specializes in fine arts, applied arts, and art education. Grants are distributed to help students with their financial aid, faculty development, student awards, and fellowships. The Maryland Institute is committed to fostering professional artists and promoting the advancement of art within the community.
Official website here: www.mica.edu
What are the reviews and ratings of this charity?
Charity Navigator Rating 96% - Four-Star out of Four Star rating
The Maryland Institute has earned a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization boasts a high score of 96% in these areas, indicating effective management of resources and transparent practices. Its majority independent board and a robust audit and oversight committee further bolster its credibility.
The nonprofit excels in maintaining a conflict of interest policy, a whistleblower policy, and proper document retention practices. These policies contribute to its high accountability standards, showcasing the organization's commitment to ethical governance. The Maryland Institute also demonstrates fiscal responsibility with a low liabilities to assets ratio and a significant portion of its expenses dedicated to programs, highlighting its focus on mission-driven outcomes.
While the ratings are overwhelmingly positive, ongoing engagement and support from the community will be key to sustaining its initiatives. Continuous monitoring of its financial health and program effectiveness will help ensure the Maryland Institute remains a valuable resource for its constituents.
This AI summary has been generated from information found on Charity Navigator.
Is Maryland Institute legitimate?
Maryland Institute is a legitimate nonprofit organization registered as a 501(c)(3) entity. Maryland Institute submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $4,394,268
Professional Fundraising Fees: $0
Other Salaries and Wages: $40,217,328
For more financial information, click here
Official website here: www.mica.edu
What is the mission statement of Maryland Institute?
Maryland Institute is a private college dedicated to the education of professional artists and the advancement of art in the community. As a degree-granting institution, it offers programs in fine arts, applied arts, and art education. With approximately 1,800 students, the college grants financial aid, scholarships, fellowships, and faculty development grants. The mission of Maryland Institute is to nurture and develop artists, providing them with the skills and knowledge necessary to thrive in their chosen field. The college fosters an environment that encourages creativity and innovation, empowering students to make their mark in the art world.
Official website here: www.mica.edu
What is the revenue of Maryland Institute?
Maryland Institute's revenue in 2024 was $134,606,537.
Official website here: www.mica.edu
Who are the executives of Maryland Institute and what are their salaries?
The average compensation at Maryland Institute during 2024 was $23,505. There are 1898 employees and 30 volunteers at Maryland Institute.
Here are 53 key members and their salaries:
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Official website here: www.mica.edu
Where can I find the form 990 for Maryland Institute?
Maryland Institute's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.mica.edu
Learn more at the official website: www.mica.edu
Mission Statement of Maryland Institute
Maryland Institute, a private degree-granting college, is devoted to the education of professional artists and the advancement of art in the community. With a mission to nurture creativity and artistic prowess, this accredited institution offers programs in fine arts, applied arts, and art education. The student body, comprised of approximately 1,800 individuals, benefits from various forms of financial aid, awards, fellowships, and faculty development grants. Maryland Institute is dedicated to fostering a thriving arts community and fostering the next generation of artists. Through its rigorous academic programs, Maryland Institute equips students with the skills and knowledge necessary to succeed in the arts world. The college's commitment to art education extends beyond the classroom, as it aims to make a meaningful impact on the wider community. By providing opportunities for artistic expression and engagement, Maryland Institute serves as a vital cultural resource for its students and the public.
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Impact
October, 2024
Maryland Institute significantly impacts the cultural and educational landscape by providing a robust foundation for aspiring artists. As an accredited college, it offers comprehensive programs in fine arts, applied arts, and art education, supporting approximately 1,800 students in their pursuit of professional artistic careers.
Through its commitment to innovation and quality education, Maryland Institute fosters not only individual artistic growth but also contributes to the broader community's appreciation and engagement with the arts. The institution's strategic disbursement of grants enhances student financial aid, awards, fellowships, and faculty development, ensuring resources are allocated to nurture talent and academic excellence.
In Baltimore, the college serves as a hub for artistic expression and collaboration, enriching the local cultural scene while preparing graduates who go on to make substantial contributions in various artistic fields. The Maryland Institute embodies a dedication to advancing the role of art in society, highlighting the importance of creativity and education in community development.
This information is meant to be a general summary of Maryland Institute. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $3,949,784
- Program Service Revenue: $100,720,129
- Gross Receipts: $170,005,365
Assets and Liabilities:
- Total Assets: $329,055,533
- Total Liabilities: $102,693,819
- Net Assets: $226,361,714
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TUITION & FEES
Revenue
$89,403,336
DORMITORIES AND FOOD SERVICE
Revenue
$10,696,953
AUXILIARY ENTERPRISES
Revenue
$619,840
Organization Details
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