Annual undesignated gifts provide a critical source of support for general operating needs and directly help MECA to deliver a consistent level of programs to meet the College’s mission. Annual Giving runs in conjunction with MECA’s fiscal year, beginning on July 1st and ending on June 30th annually.
Tuition and fees only cover 78% of the actual costs of the faculty, instructional spaces and equipment needed to provide accredited degrees in the studio arts at MECA, and with a modest endowment, the College also relies on tuition dollars to support scholarship programs. Annual undesignated gifts provide MECA with unrestricted operating income to help offset the heavy demands on tuition revenue. Dollars raised are used in the year they are given to support programs for students, for studio supplies and equipment, for the Library and for academic programs such as the Artist Lecture Series. Each gift makes difference in the quality of services MECA is able to provide to students in all programs: the BFA, MFA, Art Education and Continuing Studies.
Maine College of Art’s Leadership Council recognizes supporters who make gifts of $1,500 or more each year. Gifts at this level demonstrate that donors share the belief that an art education should provide students the tools they need to take risks, think critically and work creatively within, across, between and beyond disciplines to prepare them as culture-making citizens upon whom our world depends.
Designated gifts support specific college departments or programs and can be made annually or as one-time gifts. A designated gift for a specific program helps MECA accelerate opportunities for students by providing resources not annually budgeted from operating funds.
Gifts may be designated for the following purposes: Financial Aid/Scholarships; Alumni Development; Public Engagement; Professional Development; Institute of Contemporary Art; Joanne Waxman Library, Artist Lecture Series, K-12 Education Programs, MFA Program, Student Life, Art History, Ceramics, Foundations, Graphic Design, Illustration, Liberal Arts, Metalsmithing & Jewelry, New Media, Painting, Photography, Printmaking, Sculpture, Woodworking & Furniture Design.
Endowment gifts are made to the College with the understanding that the original value of the gift (the principal) will be invested and a portion of the investment earnings (the distribution) will be used to fund the educational mission of the College. An endowment fund contributes revenue to the operating budget of the College every year, forever. The College must decide how much of these earnings to spend, while retaining enough growth of the endowment to keep pace with inflation and program growth in future years.Endowment funds are often restricted to a specific purpose by the donor, such as student scholarships, library acquisitions, an endowed professorship for a particular department, or student life enhancements. Other funds are unrestricted and can be used by the College for its current priorities.
Gifts of any amount may be made to augment MECA’s endowment. There is a minimum threshold of $50,000 to establish and/or name an endowment fund.
Special Capital Initiative
For information about naming a seat in the Osher Lecture Hall or to explore the other recognition opportunities that are available, please contact Rebecca Swanson Conrad, Vice President of Institutional Advancement at firstname.lastname@example.org or 207.699.5017.