Nonprofit · EIN 41-1607453
MINNEAPOLIS COLLEGE OF ART & DESIGN
Tax-exempt · MINNEAPOLIS, MN 55404
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| May 31, 2025 | 990 | $40,585,478 | $46,504,971 | -$5,919,493 | $108,484,637 | $26,810,482 | $81,674,155 |
| May 31, 2024 | 990 | $45,829,228 | $44,299,244 | $1,529,984 | $109,062,799 | $29,028,070 | $80,034,729 |
| May 31, 2023 | 990 | $36,079,383 | $42,699,410 | -$6,620,027 | $86,888,481 | $12,210,554 | $74,677,927 |
Financial details: 990 for the year ended May 31, 2025
Revenue
- Contributions, gifts and grants
- $2,119,088
- of which government grants
- $1,039,853
- Program service revenue
- $38,811,523
- Investment income
- -$812,627
- Net gain from sales of assets
- -$1,377,328
- Net income from fundraising events
- $72,984
- Net income from sales of inventory
- $71,624
- Other revenue
- $467,494
Expenses
- Grants and similar amounts paid
- $17,837,086
- Compensation of officers, directors and key employees
- $818,602
- Other salaries and wages
- $13,847,639
- Salaries, compensation and benefits (total)
- $17,796,150
- Professional fundraising fees
- $0
- Legal fees
- $163,348
- Accounting fees
- $121,599
- Occupancy
- $1,706,475
- Travel
- $246,720
- Depreciation
- $2,035,735
- Program services (functional)
- $37,525,203
- Management and general (functional)
- $8,244,343
- Fundraising (functional)
- $735,425
Balance sheet and other
- Total assets, start of year
- $109,062,799
- Total assets, end of year
- $108,484,637
- Total liabilities, end of year
- $26,810,482
- Net assets, end of year
- $81,674,155
- Land, buildings and equipment
- $39,343,620
- Publicly traded securities
- $56,742,224
- Net assets without donor restrictions
- $34,941,593
- Net assets with donor restrictions
- $46,732,562
- Gross receipts
- $48,345,106
- Employees
- 781
- Volunteers
- 40
- Year formed
- 1988
- State of legal domicile
- MN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended May 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SANJIT SETHI | PRESIDENT Trustee or director, Officer | 40 | $378,491 | $24,651 |
| MARY ALMA NOONAN | CFO Officer | 40 | $177,734 | $22,193 |
| ROBERT RANSICK | VP OF ACADEMIC AFFAIRS Key employee | 40 | $158,796 | $38,444 |
| ANNIE CLEVELAND | VP OF COMMUNICATIONS Highest-paid employee | 40 | $135,168 | $43,176 |
| MELISSA HUYBRECHT | VP OF ENROLLMENT MANAGEMENT Highest-paid employee | 40 | $146,187 | $8,040 |
| JENNIFER ZUCCOLA | VP OF STUDENT AFFAIRS Highest-paid employee | 40 | $128,677 | $25,117 |
| MATTHEW HOBAN | AVP TECHNOLOGY Highest-paid employee | 40 | $119,987 | $12,574 |
| PAULA ANDERSON | AVP OF FACILITIES Highest-paid employee | 40 | $113,193 | $11,030 |
| CHRIS BARRY | CO-CHAIR Trustee or director, Officer | 3 | $0 | $0 |
| ME MARTHA KIRWAN | CO-CHAIR Trustee or director, Officer | 3 | $0 | $0 |
| KRISTINE ANDERSON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| KOBBY APPIAH | TRUSTEE Trustee or director | 1 | $0 | $0 |
| LAURA AUSTRIAN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| BRUCE BEAN | LIFE TRUSTEE Trustee or director | 1 | $0 | $0 |
| SUSAN CALMENSON | LIFE TRUSTEE Trustee or director | 1 | $0 | $0 |
18 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MARTHA DAYTON | TRUSTEE Trustee or director | 1 | $0 |
| CY DECOSSE '52 | LIFE TRUSTEE Trustee or director | 1 | $0 |
| TARA DEV | TRUSTEE Trustee or director | 1 | $0 |
| ELLIOT FELIX | TRUSTEE Trustee or director | 1 | $0 |
| JEAN FREEMAN | TRUSTEE Trustee or director | 1 | $0 |
| GREG HOFFMAN '92 | TRUSTEE Trustee or director | 1 | $0 |
| WIN HORNIG | TRUSTEE Trustee or director | 1 | $0 |
| HEATHER MATTERA | TRUSTEE Trustee or director | 1 | $0 |
| BATALIA MCFARLANE | TRUSTEE Trustee or director | 1 | $0 |
| GREG MCGEE | TRUSTEE Trustee or director | 1 | $0 |
| CLINTON H MORRISON | LIFE TRUSTEE Trustee or director | 1 | $0 |
| MARION PARKE | TRUSTEE Trustee or director | 1 | $0 |
| MARK D PIHLSTROM | IMMEDIATE PAST CHAIR Trustee or director | 1 | $0 |
| KENNETH PIPER | TRUSTEE Trustee or director | 1 | $0 |
| NEIL TULI | TRUSTEE Trustee or director | 1 | $0 |
| ROSEMARY UGBOAJAH | TRUSTEE Trustee or director | 1 | $0 |
| GREG VAN BELLINGER | TRUSTEE Trustee or director | 1 | $0 |
| HUNTER PALMER WRIGHT | IMMEDIATE PAST CHAIR Trustee or director | 1 | $0 |
990 for the year ended May 31, 2024: 32 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SANJIT SETHI | PRESIDENT Trustee or director, Officer | 40 | $377,717 | $29,673 |
| ROBERT RANSICK | VP OF ACADEMIC AFFAIRS Key employee | 40 | $188,218 | $34,156 |
| MARY ALMA NOONAN | CFO Officer | 40 | $182,019 | $19,991 |
| ANNIE CLEVELAND | VP OF COMMUNICATIONS Highest-paid employee | 40 | $143,123 | $36,028 |
| EMILY KESSLER | VP OF INSTITUTIONAL ADVANCEMENT Key employee | 40 | $150,346 | $28,081 |
| CYNTHIA THEIS | SR. GIFTS OFFICER/VP OF INST. ADV. Highest-paid employee | 35 | $144,303 | $17,918 |
| MELISSA HUYBRECHT | VP OF ENROLLMENT MANAGEMENT Highest-paid employee | 40 | $146,237 | $7,992 |
| JENNIFER ZUCCOLA | VP OF STUDENT AFFAIRS Highest-paid employee | 40 | $129,370 | $20,511 |
| BROCK RASMUSSEN | VP OF OPERATIONS AND TECHNOLOGY Highest-paid employee | 40 | $130,382 | $7,167 |
| CHRIS BARRY | CO-CHAIR Trustee or director, Officer | 3 | $0 | $0 |
| ME MARTHA KIRWAN | CO-CHAIR Trustee or director, Officer | 3 | $0 | $0 |
| GREG HEINEMANN | IMMEDIATE PAST CO-CHAIR Trustee or director | 1 | $0 | $0 |
| HUNTER PALMER WRIGHT | IMMEDIATE PAST CO-CHAIR Trustee or director | 1 | $0 | $0 |
| KOBBY APPIAH | TRUSTEE Trustee or director | 1 | $0 | $0 |
| LAURA AUSTRIAN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| BRUCE BEAN | LIFE TRUSTEE Trustee or director | 1 | $0 | $0 |
| SUSAN CALMENSON | LIFE TRUSTEE Trustee or director | 1 | $0 | $0 |
| MARTHA DAYTON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| CY DECOSSE '52 | LIFE TRUSTEE Trustee or director | 1 | $0 | $0 |
| TARA DEV | TRUSTEE Trustee or director | 1 | $0 | $0 |
| ELLIOT FELIX | TRUSTEE Trustee or director | 1 | $0 | $0 |
| GREG HOFFMAN '92 | TRUSTEE Trustee or director | 1 | $0 | $0 |
| BATALIA MCFARLANE | TRUSTEE Trustee or director | 1 | $0 | $0 |
| CLINTON H MORRISON | LIFE TRUSTEE Trustee or director | 1 | $0 | $0 |
| MARION PARKE | TRUSTEE Trustee or director | 1 | $0 | $0 |
| TODD PAULSON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MARK D PIHLSTROM | TRUSTEE Trustee or director | 1 | $0 | $0 |
| KENNETH PIPER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| RAJIV TANDON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| NEIL TULI | TRUSTEE Trustee or director | 1 | $0 | $0 |
| ROSEMARY UGBOAJAH | TRUSTEE Trustee or director | 1 | $0 | $0 |
| GREG VAN BELLINGER | TRUSTEE Trustee or director | 1 | $0 | $0 |
990 for the year ended May 31, 2023: 30 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SANJIT SETHI EX-OFFICIO | PRESIDENT Trustee or director, Officer | 40 | $379,383 | $26,844 |
| ROBERT RANSICK | VP OF ACADEMIC AFFAIRS Highest-paid employee | 40 | $177,608 | $18,132 |
| ANNIE CLEVELAND | VP OF COMMUNICATIONS Highest-paid employee | 40 | $144,393 | $18,829 |
| MELISSA HUYBRECHT | VP OF ENROLLMENT MANAGEMENT Highest-paid employee | 40 | $150,122 | $8,073 |
| CYNTHIA THEIS | VP OF INSTL. ADVANCEMENT Highest-paid employee | 35 | $139,913 | $13,677 |
| BROCK RASMUSSEN | VP OF OPERATIONS AND TECHNOLOGY Highest-paid employee | 40 | $142,395 | $7,814 |
| MARY YANG THAO | INTERIM VP OF FINANCE/CFO Officer | 40 | $104,274 | $12,724 |
| CHARLES SMITH | CFO (TERM. 11/2022) Officer | 40 | $78,161 | $5,000 |
| MARY ALMA NOONAN | CFO Officer | 40 | $69,234 | $5,415 |
| HUNTER PALMER WRIGHT | TRUSTEE-CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| MARK D PIHLSTROM | TRUSTEE- CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| CHRIS BARRY | TRUSTEE-VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| TARA DEV | TRUSTEE-VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| GREG C HEINEMANN | TRUSTEE-IMMEDIATE PAST CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| BRUCE W BEAN | LIFE TRUSTEE Trustee or director | 1 | $0 | $0 |
| CLINTON H MORRISON | LIFE TRUSTEE Trustee or director | 1 | $0 | $0 |
| CY DECOSSE '52 | LIFE TRUSTEE Trustee or director | 1 | $0 | $0 |
| ELLIOT FELIX | TRUSTEE Trustee or director | 1 | $0 | $0 |
| GARY M SURDEL | TRUSTEE Trustee or director | 1 | $0 | $0 |
| GREG HOFFMAN '92 | TRUSTEE Trustee or director | 1 | $0 | $0 |
| GREG VAN BELLINGER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| LAURA AUSTRIAN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| LIZ BARRERE | TRUSTEE Trustee or director | 1 | $0 | $0 |
| ME KIRWAN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MARION PARKE | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MARTHA DAYTON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| RAJIV TANDON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| ROSEMARY UGBOAJAH | TRUSTEE Trustee or director | 1 | $0 | $0 |
| SUSAN CALMENSON | LIFE TRUSTEE Trustee or director | 1 | $0 | $0 |
| TODD PAULSON | TRUSTEE Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 2501 STEVENS AVE, MINNEAPOLIS, MN 55404-4347
- In care of
- % ACCOUNTING DEPARTMENT
- Principal officer (990 for 2024)
- GWENDOLYN FREED, 2501 STEVENS AVENUE, MINNEAPOLIS, MN 55404
- Signed the 990
- MARY ALMA NOONAN, CFO - VP
- Phone
- (612) 874-3700
- Website
- WWW.MCAD.EDU
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
MCAD PROVIDES A TRANSFORMATIVE EDUCATION WITHIN A COMMUNITY OF SUPPORT FOR CREATIVE STUDENTS OF ALL BACKGROUNDS TO WORK, COLLABORATE, AND LEAD WITH CONFIDENCE IN A DYNAMIC, INTERCONNECTED WORLD.
Program accomplishments
- MCAD TRANSFORMS THE WORLD THROUGH CREATIVITY AND PURPOSE BY EDUCATING INDIVIDUALS TO BE PROFESSIONAL ARTISTS AND DESIGNERS, PIONEERING THINKERS, CREATIVE LEADERS, AND ENGAGED GLOBAL CITIZENS. WITH A CURRICULUM THAT IS BASED ON THE BELIEF THAT TO BECOME A PROFESSIONAL ARTIST, DESIGNER, OR VISUALIZER, ONE MUST STUDY THEORY, SKILL, FORM, AND CONTENT, ALL MCAD PROGRAMS CENTER ON THE DEVELOPMENT OF STUDIO AND PROFESSIONAL SKILLS THAT ENCOURAGE STUDENTS TO THINK CONCEPTUALLY, FORMULATE CREATIVE SOLUTIONS, AND MAKE ART. ALL MCAD PROGRAMS CHALLENGE STUDENTS TO PROGRESS TO THE HIGHEST LEVELS OF ARTISTIC EXPRESSION AND INTELLECTUAL INVESTIGATION.MCAD'S FOUR-YEAR CURRICULUM INTEGRATES THE LIBERAL ARTS INTO EIGHT BACHELOR OF FINE ARTS DEGREE MAJORS IN ANIMATION, COMIC ART, CREATIVE WRITING, FINE ARTS, GRAPHIC DESIGN, MEDIA ARTS, ILLUSTRATION, AND PRODUCT AND FURNITURE DESIGN, PLUS A FOUR-YEAR BACHELOR OF SCIENCE DEGREE PROGRAM IN CREATIVE ENTREPRENEURSHIP. STUDENTS CAN MINOR IN ADVERTISING, ANIMATION, ART HISTORY, COMIC ART, CREATIVE WRITING, CURATORIAL STUDIES, ENGAGED AND PUBLIC ARTS, ENTREPRENEURSHIP, EXPERIMENTAL GAMES, GRAPHIC DESIGN, ILLUSTRATION, PRINT PAPER BOOK, SOUND, AND TEACHING ARTS.ADVANCED DEGREES OFFERED AT MCAD INCLUDE A TWO-YEAR MASTER OF FINE ARTS DEGREE PROGRAM IN VISUAL STUDIES; A 30-CREDIT ONLINE MASTER OF ARTS DEGREE PROGRAM IN SUSTAINABLE DESIGN; A 30-CREDIT ONLINE MASTER OF ARTS DEGREE PROGRAM IN GRAPHIC AND WEB DESIGN; AND A FIFTEEN-MONTH ONLINE/LOW-RESIDENCY MASTER OF ARTS DEGREE PROGRAM IN CREATIVE LEADERSHIP. MCAD ALSO OFFERS EDUCATIONAL OPPORTUNITIES TO THE GENERAL PUBLIC THROUGH ITS CONTINUING EDUCATION, ONLINE LEARNING, AND EXHIBITION PROGRAMS.IN 2023, MCAD EXPANDED ITS CAMPUS BY ACQUIRING A BUILDING ADJACENT TO THE CAMPUS TO EXPAND STUDENT HOUSING CAPACITY. MCAD NOW REQUIRES ON CAMPUS RESIDENCY FOR FIRST- AND SECOND-YEAR STUDENTS THAT IMPROVES THE STUDENT EXPERIENCE AND SENSE OF COMMUNITY. THE PEER MENTOR PROGRAM WAS UPDATED TO INCLUDE MORE ROBUST TRAINING FOR THE MENTORS AS WELL AS MORE STRUCTURE AROUND EVENTS, BRINGING FIRST YEAR STUDENTS TOGETHER. AS THE FOUNDATIONS CORE CURRICULUM CONTINUES TO EVOLVE, ALONG WITH THE RESIDENCY REQUIREMENT AND THE IMPROVED PEER MENTOR PROGRAM, THERE HAS BEEN A CLEAR POSITIVE IMPACT ON FIRST YEAR RETENTION AND OVERALL STUDENT SUCCESS.Expenses $37,525,203 · grants $17,837,086 · revenue $38,883,147
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in May, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | May 31, 2026 | October 15, 2026 | Not on file |
| 2024 | May 31, 2025 | October 15, 2025 | 990 on file |
| 2023 | May 31, 2024 | October 15, 2024 | 990 on file |
IRS record
- EIN
- 41-1607453
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- School
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1988
- Accounting year ends
- May
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B430)
- Assets (IRS master file)
- $108,484,637
- Income (IRS master file)
- $48,345,106
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | May 2025 | $40,585,478 | $46,504,971 | $108,484,637 | XML |
| 990 | May 2024 | $45,829,228 | $44,299,244 | $109,062,799 | XML |
| 990 | May 2023 | $36,079,383 | $42,699,410 | $86,888,481 | XML |
| 990 | May 2022 | $41,322,391 | $41,458,343 | $94,159,332 | IRS |
| 990 | May 2021 | – | – | – | IRS |
| 990 | May 2020 | – | – | – | IRS |
| 990 | May 2019 | – | – | – | IRS |
| 990 | May 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 41-1607453).
Questions about MINNEAPOLIS COLLEGE OF ART & DESIGN
- What is the EIN of MINNEAPOLIS COLLEGE OF ART & DESIGN?
- The employer identification number (EIN) of MINNEAPOLIS COLLEGE OF ART & DESIGN is 41-1607453.
- Is MINNEAPOLIS COLLEGE OF ART & DESIGN tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1988.
- Are donations to MINNEAPOLIS COLLEGE OF ART & DESIGN tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does MINNEAPOLIS COLLEGE OF ART & DESIGN file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of MINNEAPOLIS COLLEGE OF ART & DESIGN due?
- The return for tax year 2025 (the year ending May 31, 2026) is due October 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MINNEAPOLIS COLLEGE OF ART & DESIGN last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended May 2025.
- Who is the principal officer of MINNEAPOLIS COLLEGE OF ART & DESIGN?
- The 990 for the year ended May 31, 2025 names GWENDOLYN FREED.
- Who are the officers and directors of MINNEAPOLIS COLLEGE OF ART & DESIGN?
- The 990 for the year ended May 31, 2025 lists 33 people; 8 received compensation from the organization, the highest $378,491 (SANJIT SETHI, PRESIDENT).
- How much revenue does MINNEAPOLIS COLLEGE OF ART & DESIGN have?
- On its 990 for the year ended May 31, 2025 it reported revenue of $40,585,478, expenses of $46,504,971 and total assets of $108,484,637 at year end.
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- SCHOLARSHIP AMERICA INC EIN 04-2296967 · last filed 990-N for 2025
- AUGSBURG UNIVERSITY EIN 41-0694721 · last filed 990 for 2025
- READING & MATH INC EIN 47-2306902 · last filed 990 for 2025
- MINNESOTA TRANSITIONS CHARTERED SCHOOL EIN 41-1823173 · last filed 990 for 2025
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