Civic Intelligence

Maine College of Art

EIN 01-0378758 • 501(c)3 • Portland, ME

Pub. 78 Eligible

View Organization Page

Profile

The college's mission is to provide education in fine arts

522 Congress StreetPortland, ME 04101

www.meca.edu

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

63rd percentile

0.39x

Higher debt load relative to assets than 63% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Liabilities / Revenue

71st percentile

0.78x

Higher debt load relative to revenue than 71% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Net Margin

78th percentile

23%

Higher net margin than 78% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Top Officer Pay

65th percentile

$469,413

Higher top officer pay than 65% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Asset Growth

95th percentile

52%

Faster asset growth than 95% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2024 to 2025

Revenue Growth

78th percentile

30%

Faster revenue growth than 78% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets63rd percentile

Assets

Up

$76,106,186

Up $26,163,296 (+52%) from 2024

Liabilities

Up

$29,919,886

Up $15,787,846 (+112%) from 2024

Net Assets

Up

$46,186,300

Up $10,375,450 (+29%) from 2024

Operations
Liabilities / Revenue71st percentileNet Margin78th percentile

Revenue

Up

$38,594,119

Up $8,798,193 (+30%) from 2024

Expenses

Up

$29,733,021

Up $1,493,145 (+5.3%) from 2024

Net Income

Up

$8,861,098

Up $7,305,048 (+469%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth95th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$80M$60M$40M$20M$0Assets 2010: $22,486,665Liabilities 2010: $7,957,085Net Assets 2010: $14,529,5802010Assets 2011: $22,558,231Liabilities 2011: $7,537,659Net Assets 2011: $15,020,5722011Assets 2012: $26,041,465Liabilities 2012: $10,703,091Net Assets 2012: $15,338,3742012Assets 2013: $26,011,509Liabilities 2013: $10,312,572Net Assets 2013: $15,698,9372013Assets 2014: $29,545,846Liabilities 2014: $10,033,454Net Assets 2014: $19,512,3922014Assets 2015: $29,630,984Liabilities 2015: $9,621,936Net Assets 2015: $20,009,0482015Assets 2016: $29,216,800Liabilities 2016: $8,979,139Net Assets 2016: $20,237,6612016Assets 2017: $30,378,219Liabilities 2017: $8,573,418Net Assets 2017: $21,804,8012017Assets 2018: $30,768,389Liabilities 2018: $8,259,422Net Assets 2018: $22,508,9672018Assets 2019: $32,290,550Liabilities 2019: $9,281,878Net Assets 2019: $23,008,6722019Assets 2020: $34,539,272Liabilities 2020: $11,122,106Net Assets 2020: $23,417,1662020Assets 2021: $42,166,138Liabilities 2021: $12,911,101Net Assets 2021: $29,255,0372021Assets 2022: $42,121,529Liabilities 2022: $10,925,449Net Assets 2022: $31,196,0802022Assets 2023: $47,873,713Liabilities 2023: $15,230,047Net Assets 2023: $32,643,6662023Assets 2024: $49,942,890Liabilities 2024: $14,132,040Net Assets 2024: $35,810,8502024Assets 2025: $76,106,186Liabilities 2025: $29,919,886Net Assets 2025: $46,186,3002025

Highlighted filing

2025

Assets$76,106,186
Liabilities$29,919,886
Net Assets$46,186,300
Open 2025 Filing

Operations Trend

Revenue Growth78th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$40M$30M$20M$10M$0-$10MExpenses 2010: $12,865,2652010Expenses 2011: $13,169,9032011Expenses 2012: $14,089,3782012Revenue 2013: $14,613,790Expenses 2013: $14,724,939Net Income 2013: -$111,1492013Revenue 2014: $19,121,874Expenses 2014: $15,967,304Net Income 2014: $3,154,5702014Revenue 2015: $18,331,815Expenses 2015: $17,724,139Net Income 2015: $607,6762015Revenue 2016: $19,390,193Expenses 2016: $19,049,957Net Income 2016: $340,2362016Revenue 2017: $22,900,411Expenses 2017: $20,388,614Net Income 2017: $2,511,7972017Revenue 2018: $22,189,337Expenses 2018: $21,898,043Net Income 2018: $291,2942018Revenue 2019: $22,339,849Expenses 2019: $21,732,886Net Income 2019: $606,9632019Revenue 2020: $23,379,343Expenses 2020: $23,021,312Net Income 2020: $358,0312020Revenue 2021: $26,019,477Expenses 2021: $22,879,402Net Income 2021: $3,140,0752021Revenue 2022: $29,282,337Expenses 2022: $24,932,922Net Income 2022: $4,349,4152022Revenue 2023: $26,110,572Expenses 2023: $25,843,831Net Income 2023: $266,7412023Revenue 2024: $29,795,926Expenses 2024: $28,239,876Net Income 2024: $1,556,0502024Revenue 2025: $38,594,119Expenses 2025: $29,733,021Net Income 2025: $8,861,0982025

Highlighted filing

2025

Revenue$38,594,119
Expenses$29,733,021
Net Income$8,861,098
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$76,106,186
Liabilities
$29,919,886
Net assets
$46,186,300
Revenue
$38,594,119
Expenses
$29,733,021
Net income
$8,861,098
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$76.1$29.9$46.2$38.6$29.7$8.86
2024Detailed filing. Detailed filing data is available for this year.$49.9$14.1$35.8$29.8$28.2$1.56
2023Detailed filing. Detailed filing data is available for this year.$47.9$15.2$32.6$26.1$25.8$0.27
2022Detailed filing. Detailed filing data is available for this year.$42.1$10.9$31.2$29.3$24.9$4.35
2021Detailed filing. Detailed filing data is available for this year.$42.2$12.9$29.3$26.0$22.9$3.14
2020Detailed filing. Detailed filing data is available for this year.$34.5$11.1$23.4$23.4$23.0$0.36
2019Detailed filing. Detailed filing data is available for this year.$32.3$9.28$23.0$22.3$21.7$0.61
2018Detailed filing. Detailed filing data is available for this year.$30.8$8.26$22.5$22.2$21.9$0.29
2017Detailed filing. Detailed filing data is available for this year.$30.4$8.57$21.8$22.9$20.4$2.51
2016Detailed filing. Detailed filing data is available for this year.$29.2$8.98$20.2$19.4$19.0$0.34
2015Detailed filing. Detailed filing data is available for this year.$29.6$9.62$20.0$18.3$17.7$0.61
2014Detailed filing. Detailed filing data is available for this year.$29.5$10.0$19.5$19.1$16.0$3.15
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.0$10.3$15.7$14.6$14.7$0.11
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.0$10.7$15.3$14.1
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.6$7.54$15.0$13.2
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.5$7.96$14.5$12.9
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Jan 19, 2026
Return Version
2024v5.5
Gross Receipts
$39,812,738
Mission and Program Overview

Mission

The college's mission is to provide education in fine arts

The college's mission is to provide education in fine arts.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$17,820,913$20,537,757▲ $2,716,844
Land, Buildings, and Equipment, Net$17,249,313$16,989,385▼ $259,928
Pledges and Grants Receivable$2,143,636$9,258,033▲ $7,114,397
Savings and Temporary Cash Investments$5,883,181$6,157,886▲ $274,705
Prepaid Expenses and Deferred Charges$688,664$780,678▲ $92,014
Accounts Receivable$314,949$552,510▲ $237,561
Total Assets$49,942,890$76,106,186▲ $26,163,296
Other Assets Total$5,842,234$21,829,937▲ $15,987,703
Liabilities
Other Liabilities$4,968,510$21,444,553▲ $16,476,043
Tax Exempt Bond Liabilities$5,318,837$4,711,181▼ $607,656
Accounts Payable and Accrued Expenses$1,670,583$1,785,693▲ $115,110
Deferred Revenue$1,139,976$1,055,543▼ $84,433
Unsecured Notes Loans Payable$1,034,134$922,916▼ $111,218
Total Liabilities$14,132,040$29,919,886▲ $15,787,846
Net Assets / Fund Balance
Net Assets With Donor Restrictions$21,619,337$32,602,875▲ $10,983,538
Net Assets Without Donor Restrictions$14,191,513$13,583,425▼ $608,088
Total Net Assets Fund Balance$35,810,850$46,186,300▲ $10,375,450
Total Liabilities and Net Assets / Fund Balance$49,942,890$76,106,186▲ $26,163,296

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$14,347,938$15,154,079$29,502,017
Equipment$1,554,099$1,158,641$2,712,740
Leasehold Improvements$249,744$751,777$1,001,521
Land$837,604-$837,604
Other Assets Org$1,940--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2025$17,656,671$1,149,560▲ $2,255,852-$20,314,554
2024$15,489,822$642,928▲ $2,183,436-$17,656,671
2023$13,869,758$1,124,447▲ $1,539,243-$15,489,822
2022$15,412,452$1,181,681▼ $2,227,867-$13,869,758
2021$9,833,954$3,039,143▲ $2,998,207-$15,412,452
Compensation and Service Providers
Top Officer Pay65th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Laura FreidPresidentFT$451,239$18,174$469,413
Elizabeth ElickerExecutive VPFT$229,690$18,075$247,765
Ian AndersonVP Academic Affairs & DeanFT$158,111$23,338$181,449
Laura RethefordVP of DevelopmentFT$133,025$16,669$149,694
Jennifer CampanaroDirector of AdmissionsFT$107,017$21,290$128,307
Holly HigginsDirector of Business ServicesFT$108,062$11,229$119,291
Seth ClayterDirector of TechnologyFT$101,610$5,181$106,791

Board Members and Trustees

NameTitle
Kathryn YatesChair
Diane GathwaiteVice Chair
Abigail WarkDirector
Brit VitaliusDirector
Charles Perry ButterfieldDirector
Damien SaccaniDirector
Dan BailinDirector
Deborah H DluhyDirector
Edward FriedmanDirector
Gimbala SankareDirector
Jeana ChoDirector
Jennie CoyneDirector
Jenny ScheuDirector
Jordan CareyDirector
Kathryn Knight-wiseDirector
Kerem DurdagDirector
Kristin ValdmanisDirector
Marianna PierceDirector
Meredith KoernerDirector
Michael BoysonDirector
Roberta MarchDirector
Stacey DietschDirector
Susan LambeDirector
Susan a RogersDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Sodexo LLCFood & Service ProviderPO BOX 360170, Pittsburgh, PA 15251$1,276,602
Encoura LLCSearch Engine Marketing75 REMITTANCE DRIVE DEPT 1020, Chicago, IL 60675$322,440
Wright-ryan Construction INCConstruction10 DANFORTH STREET, Portland, ME 04101$316,739
First Protection Services INCSecurityPO BOX 7209, Scarborough, ME 04070$261,175
Pine State ElevatorConstruction & Repairs230 ANDERSON STREET, Portland, ME 04101$162,963
Revenue and Support

Revenue Composition

Contributions and Grants
$11,967,383
Program Service Revenue
$25,607,833
Investment Income
$1,003,883
Other Revenue
$15,020
All Other Contributions
$11,701,360
Change in Net Assets
$8,861,098

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded32$1,562,049Quoted Price
Works of Art93$83,455Net Sales Price
Clothing and Household Goods-$750Net Sales Price
Total Noncash Contributions125$1,646,254-

Audited Revenue Reconciliation

Revenue per Audited Statements
$29,874,497
Revenue Not Reported on Financial Statements
$8,719,622
Revenue Not Reported on Form 990
$2,194,112
Other Revenue Adjustments
$8,719,622
Total Revenue per Audited Statements
$32,068,609
Total Revenue per Form 990
$38,594,119
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$10,651,955
Other Expenses$10,243,010
Grants and Similar Amounts Paid$8,719,622
Total Fundraising Expense$925,028
Professional Fundraising Fees$118,434

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$8,719,622--$8,719,622
Other Salaries and Wages$5,832,433$1,719,121$219,904$7,771,458
Depreciation Depletion$911,915$496,071-$1,407,986
Current Officers, Directors, Trustees, and Key Employees-$613,421$358,644$972,065
All Other Expenses$478,178$436,258$31,467$945,903
Other Employee Benefits$620,252$248,055$61,526$929,833
Payroll Taxes$434,838$173,833$43,129$651,800
Information Technology$211,025$318,737$21,749$551,511
Advertising$270,445$131,728$32,932$435,105
Other Expenses$348,436$56,551$2,976$407,963
Occupancy$276,368$116,894-$393,262
Insurance$230,334$143,351-$373,685
Pension Plan Contributions$140,524$186,275-$326,799
Travel$74,599$218,190-$292,789
Fees for Services Professional Fundraising--$118,434$118,434
Interest$67,938$46,920-$114,858
Fees for Services Accounting-$83,943-$83,943
Fees for Services Legal-$48,564-$48,564
Fees for Services Other-$47,246-$47,246
Fees for Service Investment Mgmnt Fees-$46,295-$46,295
Office Expenses$8,379$19,272$2,266$29,917
Conferences and Meetings-$29,898-$29,898
Total Functional Expenses$23,019,340$5,788,653$925,028$29,733,021

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$29,733,021
Total Expenses per Audited Statements$21,693,159
Expenses per Audited Statements$21,013,399
Expenses Not Reported on Financial Statements$8,719,622
Other Expense Adjustments$8,719,622
Expenses Not Reported on Form 990$679,760
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$118,434
Fundraising Gross Income$84,205
Fundraising Direct Expenses$32,147

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Art Auction and Sale$97,075$76,575$17,048$59,527
Fashion Show$41,635$750$13,852$-13,102
Total Events$145,590$84,205$32,147$52,058
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Obligation$21,444,553

Bond Issues

BondIssuerIssuedIssue PricePurpose
AMhhefa Series 2016a2016-06-28$73,764,920Refunded mhhefa series 2006f bonds issued 9/7/06
BMhhefa Series 2018 Mca2018-09-26$2,850,000NEW MONEY
CMhhefa Series 2021a2021-05-19$2,695,000Refund series 2010b & 2011

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
C$3,197,410-$1,125,000$49,684
B$2,202,511$28,400$963,911$59,458
A$1,859,472$1,937,955$575,000$22,747

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Line 11a explanation - the board chair, finance committee, and management review the 990 prior to submission. The 990 is made available to all board of trustees after the filing.”

Form 990, Part VI, Section B, Line 12C

“Trustees complete a conflict of interest form annually. The governance committee reviews the forms, and address any potential conflicts directly with individual trustees.”

Form 990, Part VI, Section B, Line 15A

“The president's compensation is determined by the executive committee of the board of trustees. They conduct a review of the president annually, review the salary survey made available by the association of independent colleges of art and design (aicad) as a resource in determining the level of compensation and review and update the employment contract. The president determines the compensation for the officers of the college. The president conducts an annual review of each officer or vice president and reviews the salary survey made available by the association of independent colleges of art and design (aicad) as a resource in determining levels of compensation.”

Form 990, Part VI, Section C, Line 19

“The college makes its governing documents and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Maine College of Art and Design
EIN
01-0378758
Phone
2076995045
Address
522 CONGRESS STREET, PORTLAND, ME 04101

Signing Officer

Name
Elizabeth Elicker
Title
Executive VP
Phone
2076995045
Signed
2026-01-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Elizabeth Elicker
Formed
1882
Legal Domicile
Me
Voting Board Members
24
Independent Board Members
24
Employees
367
Volunteers
24

Preparer

Firm
Wipfli Advisory LLC
Address
30 LONG CREEK DRIVE, SOUTH PORTLAND, ME 04106-2437
Preparer
Patrick Nicholas CPA
Phone
2077745701
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Loss on interest rate swap -43,060.”

Financial Statement Notes

PART III, LINE 1A:

“The college does not capitalize collections, primarily library books and art objects, as they are held for public exhibition and education rather than financial gain. Any proceeds from the sale of collection items are used to acquire other items for the collection. The college estimates the value of the collection to be approximately $74,000 at june 30, 2025.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Special events expense 32,147. Rental expenses 647,613. Loss on interest rate swap -43,060.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Student aid/scholarships 8,719,622.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Special events expense 32,147. Rental expenses 647,613.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Student aid/scholarships 8,719,622.”

Raw XML AppendixShowing 400 of 1,004 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ContractorCompensationGrp/ServicesDesc1SEARCH ENGINE MARKETING
IRS990/ContractorCompensationGrp/ServicesDesc2CONSTRUCTION
IRS990/ContractorCompensationGrp/ServicesDesc3SECURITY
IRS990/ContractorCompensationGrp/ServicesDesc4CONSTRUCTION & REPAIRS
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IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
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IRS990/CYTotalProfFndrsngExpnsAmt0118434
IRS990/CYTotalRevenueAmt038594119
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd01
IRS990/DeductibleNonCashContriInd01
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IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/ManagementAndGeneralAmt0496071
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IRS990/DepreciationDepletionGrp/TotalAmt01407986
IRS990/Desc0INSTRUCTION - PRIMARY MISSION. THE COLLEGE IS A PRIVATE INSTITUTION OFFERING BACHELOR AND MASTER OF FINE ARTS DEGREE PROGRAMS TO APPROXIMATELY 400 FULL-TIME STUDENTS CONCENTRATING IN THE FINE ARTS, A MASTER OF ART IN TEACHING PROGRAM, AS WELL AS A WIDE RANGE OF CONTINUING STUDIES CLASSES FOR INDIVIDUALS OF ALL AGES AND A PUBLICLY ACCESSIBLE GALLERY, THE INSTITUTE OF CONTEMPORARY ART.
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IRS990/Form990PartVIISectionAGrp/PersonNm8MICHAEL BOYSON
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIR
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IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt25EXECUTIVE VP
IRS990/Form990PartVIISectionAGrp/TitleTxt26VP ACADEMIC AFFAIRS & DEAN
IRS990/Form990PartVIISectionAGrp/TitleTxt27VP OF DEVELOPMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt28DIRECTOR OF BUSINESS SERVICES
IRS990/Form990PartVIISectionAGrp/TitleTxt29DIRECTOR OF ADMISSIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt30DIRECTOR OF TECHNOLOGY
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