Maryland Institute
88% goes to programs $17 to raise $100 Strong reserves
Maryland Institute is a 501(c)(3) organization based in Baltimore, Maryland, registered in 1935, with $120,548,710 in FY2024 revenue. CharityIndex grades it A, and it directs about 88% of spending to programs.
1300 W Mount Royal Ave, Baltimore, MD, 21217 EIN 52-0591661 Since 1935
Revenue (FY2024)
$120.5M
▼ 10.4% vs prior year
Education median: $200K
Expenses (FY2024)
$124.6M
Net assets
$224.6M
Employees
2,017
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
AProgram efficiency40% of the rating88% to programs · $17 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Maryland Institute: 88% to programs · $17 to raise $100 earns a A on this criterion. See the exact thresholds →
B+Financial health25% of the rating22 mo reserves · -3% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Maryland Institute: 22 mo reserves · -3% margin earns a B+ on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Maryland Institute: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Maryland Institute: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
Degree granting college-maryland institute college of art is a private college dedicated to the education of professional artists and the further advancement of art in the community.
Contact & location
- Address
- 1300 W Mount Royal Ave, Baltimore, MD, 21217
- City
- Baltimore
- State
- Maryland
- Category
- Education
- Subcategory
- Colleges & Universities
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $111.3M (FY2013) to $120.5M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $93.0MNet assets $224.6M
Operating margin
-3.4%
Spent more than it raised in the latest fiscal year.
Total assets
$317.5M
Total liabilities
$93.0M
Net assets
$224.6M
Salaries & benefits
$48.6M
39% of expenses
Board members
24
23 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $120,548,710▼10.4% | $124,620,999▼1.2% | $224,551,554▼0.5% | $317,526,300▼1.2% | 990 |
| 2023 | $134,606,537▲10.2% | $126,122,588▲2.9% | $225,698,719▲2.5% | $321,267,295▲0.5% | 990 |
| 2022 | $122,163,054▼11.9% | $122,581,866▼4.2% | $220,297,307▼2.7% | $319,808,678▼2.8% | 990 |
| 2021 | $138,711,160▲47.1% | $127,947,996▲21.5% | $226,361,714▼4.0% | $329,055,533▼3.1% | 990 |
| 2020 | $94,274,513▼30.9% | $105,307,187▼18.5% | $235,713,445▲7.1% | $339,639,271▲4.6% | 990 |
| 2019 | $136,443,462▲7.9% | $129,224,288▲5.3% | $220,137,733▲4.7% | $324,696,375▲2.2% | 990 |
| 2018 | $126,448,964▼2.2% | $122,669,587▲4.4% | $210,294,030▲1.6% | $317,603,083▲0.9% | 990 |
| 2017 | $129,249,865▲8.6% | $117,449,171▲5.4% | $206,933,526▲6.1% | $314,778,737▲3.7% | 990 |
| 2016 | $118,974,326▼0.5% | $111,417,591▲1.8% | $195,051,841▲6.0% | $303,622,386▲1.5% | 990 |
| 2015 | $119,567,692▼1.8% | $109,496,177▲0.6% | $184,086,310▲1.6% | $299,075,071▲0.9% | 990 |
| 2014 | $121,765,704▲9.4% | $108,816,468▲3.2% | $181,166,657▲5.1% | $296,489,175▲1.7% | 990 |
| 2013 | $111,292,036 | $105,426,061▲5.2% | $172,358,351▲7.5% | $291,655,364▲3.6% | 990 |
| 2012 | — | $100,219,729▲4.3% | $160,277,969▲11.1% | $281,584,727▲16.9% | 990 |
| 2011 | — | $96,129,553▲9.3% | $144,231,059▲3.5% | $240,839,246▲2.2% | 990 |
| 2010 | — | $87,969,009▲8.6% | $139,322,472▲18.7% | $235,703,053▲10.2% | 990 |
| 2009 | — | $81,016,318 | $117,394,661 | $213,876,597 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Samuel Hoi — $717,651 (0.58% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Samuel Hoi | Former President | 40 | $717,651 |
| Cecilia Mccormick | President | 40 | $535,117 |
| Robert Sabal | Vp Academic Affairs and Provost | 40 | $401,161 |
| Donald Jones | Vp Advancement | 40 | $331,657 |
| Daniel A Cronin | Evp For Finance and Cfo | 40 | $288,896 |
| Shanna Hines | Vp of Hr | 40 | $275,466 |
| Alexandra Kim | Former Vp Operations and Technology | 40 | $269,102 |
| Michael S Weikert | Co-exec Dir, Center For Creative Impact | 40 | $191,018 |
| Judith Kinney | Vp Student Affairs | 40 | $186,593 |
| Michael Patterson | Former Vp Student Affairs | 40 | $185,225 |
| Christian Lallo | Vp Strategic Comm | 40 | $176,726 |
| Stacey Salazar | Vp Graduate Studies | 40 | $167,338 |
| Lee Davis | Co-exec Dir, Center For Creative Impact | 40 | $165,831 |
| Martin Lemelle Jr | Former Evp For Finance and Cfo | 40 | $147,961 |
| Amy Brusselback | Trustee | 1 | — |
| Anne Garfinkle | Trustee | 1 | — |
| Anne Perkins | Trustee | 1 | — |
| Bonnie Washington | Trustee | 1 | — |
| David Wallack | Trustee | 1 | — |
| Diane Cho | Trustee | 1 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Elsmere Education Inc | Professional Services | $2,790,404 |
| Parkhurst Dining Services | Food Service | $2,742,827 |
| Quality Waterproofing Services Inc | Construction | $594,500 |
| Miller Transportatoin | Transportation | $447,330 |
| Landcare | Landscaping | $322,558 |
Grants received · $5.7M total
81 grants to Maryland Institute totaling $5.7M, reported by foundations on their Schedule I filings — showing the 15 most recent.
Grants made · $1.9M in FY2024
3 grants totaling $1.9M in FY2024. All grants made by Maryland Institute →
| Recipient | Purpose | Amount |
|---|---|---|
| Bethel Outreach Center Inc | Capital - construction of empowerment and wellness center | $1,250,000 |
| The Central Baltimore Partnership Inc | Community development | $469,178 |
| Upton Planning Committee Inc | Community development | $200,000 |
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Compare Maryland Institute
Frequently asked questions
- Is Maryland Institute a legitimate nonprofit?
- Yes. Maryland Institute is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 52-0591661, based in Baltimore, Maryland. Donations are tax-deductible.
- What is Maryland Institute's EIN?
- Maryland Institute's Employer Identification Number (EIN) is 52-0591661.
- How much revenue does Maryland Institute report?
- Maryland Institute reported $120,548,710 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Maryland Institute's spending goes to programs?
- Maryland Institute spends about 88% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Maryland Institute have?
- CharityIndex grades Maryland Institute A, based on program efficiency and fundraising cost.
- How much does Maryland Institute's highest-paid employee make?
- The highest reported compensation on Maryland Institute's latest Form 990 is $717,651, paid to Samuel Hoi (Former President).
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Data for Maryland Institute (EIN 52-0591661) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.