2025-05-09T19:07:10-05:00 2024-06-30 WITHUMSMITHBROWNPC 4600 EAST WEST HWY 900 BETHESDA MD 20814 990 2023-07-01 042613803 MASSACHUSETTS COLLEGE OF LIBERAL ARTS FOUNDATION INC % ROBERT P ZIOMEK MASS 4136625221 375 CHURCH STREET NORTH ADAMS MA 01247 ROBERT ZIOMEK PRESIDENT 4136625221 2025-05-15 true true richard ruvelson P00234075 3012726000 2024-11-15 2023 2025-03-06 01:10:19Z ROBERT P ZIOMEK 375 CHURCH STREET NORTH ADAMS MA 01247 38456904 false X www.mcla.edu X 1977 MA TO SUPPORT EDUCATIONAL ACTIVITIES. 21 20 0 126 -33490 0 3461383 2991452 0 0 666316 2185636 18368 -66386 4146067 5110702 1463813 1834650 0 0 0 0 177450 185250 265634 242888 445727 1884151 2465627 2261916 2645075 26146972 28574769 2055129 1886993 24091843 26687776 X MASSACHUSETTS COLLEGE OF LIBERAL ARTS FOUNDATION, INC. IS A PRIVATE NON-PROFIT ORGANIZATION DEDICATED TO THE GROWTH, DEVELOPMENT AND SUPPORT OF MASSACHUSETTS COLLEGE OF LIBERAL ARTS AND ITS FACULTY, STAFF AND STUDENTS, WITH SPECIAL EMPHASIS ON ACADEMIC QUALITY AND THE ASSURANCE OF THE ACCESS TO HIGHER EDUCATION THROUGH THE RECEIPT, PROFESSIONAL MANAGEMENT, AND PRUDENT DISBURSEMENT OF FUNDS AND OTHER CHARITABLE CONTRIBUTIONS SECURED THROUGH PRIVATE SOURCES AND GRANT FUNDING. false false 2071871 1834650 TO PROMOTE AND SUPPORT THE EDUCATIONAL AND OTHER LEGAL ACTIVITIES OF MASSACHUSETTS COLLEGE OF LIBERAL ARTS AND TO RENDER FINANCIAL AID TO STUDENTS AT MCLA THROUGH CONTRIBUTIONS FROM THE COMMUNITY, ALUMNI, AND PARENTS. 2071871 true true false false false false false false false true true true false false true true true false false false false false false true true false false true true true false false false false false false false false false false false false false true false true false true 5 0 true 0 true true false false false false false false false false false false false false false false X 21 20 false false false false false false false true true false false true true true true true true false false false MA X ROBERT P ZIOMEK 4136625221 375 CHURCH STREET NORTH ADAMS MA 01247 Robert Ziomek PRESIDENT 10.0 28.5 X X 0 160077 7814 TIMOTHY CHERUBINI vice chair 1.0 0.0 X X 0 0 0 Jason Dohaney Chair 1.0 0.0 X X 0 0 0 Amy Smith Clerk 1.0 0.0 X X 0 0 0 Jamie Ellen Moncecchi Treasurer 1.0 0.0 X X 0 0 0 Wende Carver Director 0.5 0.0 X 0 0 0 Buffy Lord Director 0.5 0.0 X 0 0 0 Tara Barboza Director 0.5 0.0 X 0 0 0 Kimberly Boyden-Briones Director 0.5 0.0 X 0 0 0 JULIE ARNOLD director 0.5 0.0 X 0 0 0 Dr Jean Clarke-Mitchell Director 0.5 0.0 X 0 0 0 Bernie Pinsonnault Director 0.5 0.0 X 0 0 0 Dr Frances Jones-Sneed Director 0.5 0.0 X 0 0 0 Mary Nash Director 0.5 0.0 X 0 0 0 Molly O'Meara Sheehan Director 0.5 0.0 X 0 0 0 Denise Richardello Director 0.5 0.0 X 0 0 0 Chrystina Geagan Parks Director 0.5 0.0 X 0 0 0 Colleen P Taylor Director 0.5 0.0 X 0 0 0 Judith M Wilkinson Director 0.5 0.0 X 0 0 0 MICHAEL AVIS DIRECTOR 0.5 0.0 X 0 0 0 Crystal Wojick DIRECTOR 0.5 0.0 X 0 0 0 0 160077 7814 0 false true false Demont Associates 2 MONUMENT SQ STE 700 PORTLAND ME 04101 Campaign Services 150000 1 33916 419649 2537887 20459 2991452 0 568711 568711 0 0 183940 241538 -57598 0 -57598 -24108 -33490 34697968 33081043 1616925 1616925 1616925 14833 33916 23621 -8788 -8788 0 0 0 0 0 0 0 5110702 -24108 -33490 2176848 1037991 1037991 796659 796659 0 0 0 0 0 0 0 0 0 0 12525 12525 0 185250 185250 72020 72020 13283 13283 19406 735 18671 6339 1908 4431 0 0 0 16780 1798 14982 0 3392 2892 500 0 0 0 5241 5241 SUBSCRIPTIONS, DUES & FEES 59029 17229 41800 Repairs and Maintenance 448 448 RE Taxes 43 43 LOSS ON PLEDGES RECEIVABLE 237221 237221 2465627 2071871 128122 265634 X 176799 142148 3208087 3273345 3115290 2405579 0 183940 0 0 0 0 0 0 0 0 49365 37501 5093809 1662441 3535393 3431368 0 0 16062038 19100888 0 0 0 0 0 0 26146972 28574769 7427 29819 0 0 0 0 0 0 0 0 0 0 1626677 1545641 0 0 421025 311533 2055129 1886993 X 2335303 2130974 21756540 24556802 24091843 26687776 26146972 28574769 X 2645075 -49142 X X false true X true false X 1686228 908432 2548572 3452400 2991452 11587084 0 95590 112476 128592 169993 170154 676805 1781818 1020908 2677164 3622393 3161606 12263889 1029146 11234743 509959 469150 394485 529083 608635 2511312 76861 93033 0 0 0 169894 0 14945095 0.75173 0.72700 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 19409210 3122358 2064474 1616630 22979412 16824632 2382976 1537299 1335697 19409210 18832853 1636160 -2343324 1301057 16824632 15470558 1042711 3672401 1352807 18832863 14385655 1558935 497555 971587 15470558 0.03600 0.67380 0.29020 false false 473882 473882 1879937 902571 977366 2694377 726103 1968274 45613 33767 11846 3431368 MONEY MARKET FUNDS 1254429 F MUTUAL FUNDS 12520193 F CORPORATE BONDS 3853811 F CERTIFICATES OF DEPOSIT 1472455 F 19100888 0 DUE TO MCLA 311533 311533 X 5187632 -49142 170154 265159 386171 4801461 72020 237221 309241 5110702 2591699 170154 265159 435313 2156386 72020 237221 309241 2465627 PART V, LINE 4: EARNINGS FROM ENDOWMENT FUNDS ARE INTENDED FOR THE SUPPORT OF MASSACHUSETTS COLLEGE OF LIBERAL ARTS. PART X, LINE 2: Accounting principles generally accepted in the United States of America require an entity to assess the probability that a tax position has a "more likely than not" sustainability after review by tax authorities. If a tax position is deemed not to meet this threshold, any unrecognized tax benefits and costs are estimated and recognized. Tax returns are routinely open for review by the tax authorities for three years from their due date. In certain circumstances, the statute of limitations may remain open indefinitely. As a not-for-profit entity, the Foundation is exempt from income taxes; the Foundation may, however, be subject to tax on unrelated business income. The Foundation has been notified by the Internal Revenue Service that it meets the qualifications to be classified as a tax-exempt entity under section 501(c)(3) of the Internal Revenue Code. However, lease income from debt-financed property is not directly related to the Foundation's tax-exempt purpose and is subject to federal and state taxation as unrelated business income. The Foundation paid no income taxes for such unrelated business income in 2024 and 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: EXPENSES ALLOCATED TO RENTAL PROPERTY 241,538. EVENT EXPENSES 23,621. TOTAL TO SCHEDULE D, PART XI, LINE 2D 265,159. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES ALLOCATED TO RENTAL PROPERTY 241,538. EVENT EXPENSES 23,621. TOTAL TO SCHEDULE D, PART XI, LINE 2D 265,159. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON PLEDGE RECEIVABLE 237,221. TOTAL TO SCHEDULE D, PART XI, LINE 4B 237,221. PART XII, LINE 4B - OTHER ADJUSTMENTS: LOSS ON PLEDGE RECEIVABLE 237,221. TOTAL TO SCHEDULE D, PART XII, LINE 4B 237,221. X X X X X true DEMONT ASSOCIATES PO BOX 15057 portland ME 04112 pathways ca false 3902958 150000 3752958 3902958 150000 3752958 MA golf tournament 48749 33916 14833 4977 9913 8731 0 48749 33916 14833 4977 9913 8731 23621 -8788 true MASSACHUSETTS COLLGE OF LIBERAL ARTS 375 CHURCH STREET NORTH ADAMS MA 01247 046002284 115 1017532 20459 FMV EQUIPMENT SUPPORT OF THE COLLEGE AND ITS MISSION. 1 scholarships 220 796659 FMV PART I, LINE 2: FIRST, THE FOUNDATION INSPECTS CHARGES TO ENSURE THAT THEY ARE APPROPRIATE AND ALLOWABLE. THIS INCLUDES CHECKING CLERICAL ACCURACY, REVIEWING ENCUMBRANCE BALANCE AND CHECKING COMPLIANCE WITH APPLICABLE AGENCY, CDU, AND FEDERAL GUIDELINES. THE FOUNDATION ALSO MAKES SURE THAT EXPENSES FIT WITHIN THE REQUIRED CATEGORIES AND BUDGET AMOUNTS. THIS INCLUDES REVIEWING EXPENSE CATEGORIES, REBUDGETING OR TRANSFERRING EXPENSES AS NEEDED, AND DETERMINING IF THE AWARD WILL BE UNDER SPENT AT THE END OF THE BUDGET OR PROJECT PERIOD. false false false false false false false false false Robert Ziomek PRESIDENT 0 160077 0 0 0 0 0 0 0 7814 0 167891 0 0 FORM 990, PART VI, SECTION B, LINE 11B: AS PART OF THE FORM 990 REVIEW PROCESS THE FORM 990 NEEDS TO BE REVIEWED BY THE MASSACHUSETTS COLLEGE OF LIBERAL ARTS FOUNDATION BOARD OF DIRECTORS OR WILL BE DELEGATED TO A SUB-COMMITTEE WHERE A MEMBER OF THE FINANCE COMMITTEE WILL BE ABLE TO REVIEW THE RETURN FOR COMPLETENESS AND ACCURACY. ONCE THE FORM 990 HAS BEEN APPROVED BY THE BOARD OF DIRECTORS OR A MEMBER OF THE FINANCE COMMITTEE THE FORM 990 THEN CAN BE FILED WITH THE INTERNAL REVENUE SERVICE AND THE MASSACHUSETTS ATTORNEY GENERAL'S OFFICE. FORM 990, PART VI, SECTION B, LINE 12C: PERSONS COVERED BY THIS POLICY WILL ANNUALLY DISCLOSE OR UPDATE THE CHAIRMAN OF THE BOARD OF DIRECTORS ON A FORM PROVIDED BY THE MASSACHUSETTS COLLEGE OF LIBERAL ARTS FOUNDATION, INC. THEIR INTERESTS THAT COULD GIVE RISE TO CONFLICTS OF INTEREST, SUCH AS A LIST OF FAMILY MEMBERS, SUBSTANTIAL BUSINESS OR INVESTMENT HOLDINGS, AND OTHER TRANSACTIONS OR AFFILIATIONS WITH BUSINESSES AND OTHER ORGANIZATIONS OR THOSE OF FAMILY MEMBERS. FORM 990, PART VI, SECTION B, LINE 15: THE MASSACHUSETTS COLLEGE OF LIBERAL ARTS FOUNDATION, INC. HAS NO EMPLOYEES. THE FOUNDATION INSTEAD USES EMPLOYEES OF MASSACHUSETTS COLLEGE OF LIBERAL ARTS. ALL SALARIES FOR THESE EMPLOYEES ARE PAID BY MASSACHUSETTS COLLEGE OF LIBERAL ARTS. FORM 990, PART VI, SECTION C, LINE 19: THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC THROUGH THE USE OF ITS WEBSITE AND THE PUBLISHING OF PRINTED REPORTS. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS AN AUDIT COMMITTEE WHOSE PURPOSE IS THE OVERSIGHT AND REVIEW OF THE AUDITED FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT AUDITOR. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART III, LINE 1 MASSACHUSETTS COLLEGE OF LIBERAL ARTS FOUNDATION, INC. IS A PRIVATE NON-PROFIT ORGANIZATION DEDICATED TO THE GROWTH, DEVELOPMENT AND SUPPORT OF MASSACHUSETTS COLLEGE OF LIBERAL ARTS AND ITS FACULTY, STAFF AND STUDENTS, WITH SPECIAL EMPHASIS ON ACADEMIC QUALITY AND THE ASSURANCE OF THE ACCESS TO HIGHER EDUCATION THROUGH THE RECEIPT, PROFESSIONAL MANAGEMENT, AND PRUDENT DISBURSEMENT OF FUNDS AND OTHER CHARITABLE CONTRIBUTIONS SECURED THROUGH PRIVATE SOURCES AND GRANT FUNDING. MASSACHUSETTS COLLEGE OF LIBERAL ARTS 375 CHURCH STREET NORTH ADAMS MA 01247 046002284 higher EDUCAT MA 115 N/A na false false true false false true false false false false true false false false false true false false false false MASSACHUSETTS COLLEGE OF LIBERAL ARTS B 2071871 FMV mASSACHUSETTS COLLEGE OF LIBERAL ARTS E 311533 fMV mASSACHUSETTS COLLEGE OF LIBERAL ARTS O 170154 fmv masSACHUSETTS COLLEGE OF LIBERAL ARTS J 183940 FMV