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SCHEDULE N
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Liquidation, Termination, Dissolution, or Significant Disposition of Assets
bullet Complete if the organization answered "Yes" on Form 990, Part IV, lines 31 or 32; or Form 990-EZ, line 36.
bullet Attach certified copies of any articles of dissolution, resolutions, or plans.
bullet Attach to Form 990 or 990-EZ.
bullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2018
Open to Public
Inspection
Name of the organization
New Hampshire Institute of Art
 
Employer identification number
02-0222154
Part I
Liquidation, Termination, or Dissolution. Complete this part if the organization answered "Yes" on Form 990, Part IV, line 31, or Form 990-EZ, line 36. Part I can be duplicated if additional space is needed.
1(a) Description of asset(s)
distributed or transaction
expenses paid 		(b) Date of
distribution 		(c) Fair market value of
asset(s) distributed or
amount of transaction
expenses 		(d) Method of
determining FMV for
asset(s) distributed or
transaction expenses 		(e) EIN of recipient (f) Name and address of recipient (g) IRC section
of recipient(s) (if
tax-exempt) or type
of entity
Cash and Cash Equivalents 07-01-2019 830,992 Audited Financial Statements 02-0223955 New England College
 
98 Bridge Street
Henniker,NH03242 		501(c)(3)
Accounts Receivable 07-01-2019 639,719 Audited Financial Statements 02-0223955 New England College
 
98 Bridge Street
Henniker,NH03242 		501(c)(3)
Contributions Receivable 07-01-2019 35,336 Audited Financial Statements 02-0223955 New England College
 
98 Bridge Street
Henniker,NH03242 		501(c)(3)
Prepaid Expenses 07-01-2019 211,613 Audited Financial Statements 02-0223955 New England College
 
98 Bridge Street
Henniker,NH03242 		501(c)(3)
Assets Held for Sale 07-01-2019 631,233 Audited Financial Statements 02-0223955 New England College
 
98 Bridge Street
Henniker,NH03242 		501(c)(3)
Investments 07-01-2019 11,075,514 Audited Financial Statements 02-0223955 New England College
 
98 Bridge Street
Henniker,NH03242 		501(c)(3)
Land, Buildings, and Equipment 07-01-2019 16,648,340 Audited Financial Statements 02-0223955 New England College
 
98 Bridge Street
Henniker,NH03242 		501(c)(3)
Collections 07-01-2019 3,452,589 Audited Financial Statements 02-0223955 New England College
 
98 Bridge Street
Henniker,NH03242 		501(c)(3)
Restricted Cash 07-01-2019 621,623 Audited Financial Statements 02-0223955 New England College
 
98 Bridge Street
Henniker,NH03242 		501(c)(3)
Accounts Payable and Accrued Expenses 07-01-2019 -967,574 Audited Financial Statements 02-0223955 New England College
 
98 Bridge Street
Henniker,NH03242 		501(c)(3)
Due to Related Party 07-01-2019 -968,103 Audited Financial Statements 02-0223955 New England College
 
98 Bridge Street
Henniker,NH03242 		501(c)(3)
Deferred Revenue 07-01-2019 -244,085 Audited Financial Statements 02-0223955 New England College
 
98 Bridge Street
Henniker,NH03242 		501(c)(3)
Fair Value of Interest Rate Swap Agreement 07-01-2019 -876,787 Audited Financial Statements 02-0223955 New England College
 
98 Bridge Street
Henniker,NH03242 		501(c)(3)
Other Liabilities 07-01-2019 -162,253 Audited Financial Statements 02-0223955 New England College
 
98 Bridge Street
Henniker,NH03242 		501(c)(3)
Long-Term Obligations 07-01-2019 -10,826,187 Audited Financial Statements 02-0223955 New England College
 
98 Bridge Street
Henniker,NH03242 		501(c)(3)
Yes
No
2
Did or will any officer, director, trustee, or key employee of the organization:
a
Become a director or trustee of a successor or transferee organization? .........................
2a
Yes
 
b
Become an employee of, or independent contractor for, a successor or transferee organization? .....................
2b
 
 
c
Become a direct or indirect owner of a successor or transferee organization? .....................
2c
 
No
d
Receive, or become entitled to, compensation or other similar payments as a result of the organization's liquidation, termination, or dissolution? ........
2d
 
No
e
If the organization answered "Yes" to any of the questions on lines 2a through 2d, provide the name of the person involved and explain in Part III. bullet
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or Form 990-EZ.
Cat. No. 50087Z
Schedule N (Form 990 or 990-EZ) (2018)
Page 2

Schedule N (Form 990 or 990-EZ) (2018)
Page 2
Part I
Liquidation, Termination, or Dissolution (continued)
Note. If the organization distributed all of its assets during the tax year, then Form 990, Part X, column (B), line 16 (Total assets), and line 26 (Total liabilities), should equal -0-.
Yes
No
3
Did the organization distribute its assets in accordance with its governing instrument(s)? If "No," describe in Part III .............
3
Yes
 
4a
Is the organization required to notify the attorney general or other appropriate state official of its intent to dissolve, liquidate, or terminate? ......
4a
Yes
 
b
If "Yes," did the organization provide such notice? .....................
4b
Yes
 
5
Did the organization discharge or pay all of its liabilities in accordance with state laws? .....................
5
Yes
 
6a
Did the organization have any tax-exempt bonds outstanding during the year? .....................
6a
 
No
b
If "Yes" on line 6a, did the organization discharge or defease all of its tax-exempt bond liabilities during the tax year in accordance with the Internal Revenue Code and state laws?
6b
 
 
c
If "Yes" on line 6b, describe in Part III how the organization defeased or otherwise settled these liabilities. If "No" on line 6b, explain in Part III.

Part II
Sale, Exchange, Disposition, or Other Transfer of More Than 25% of the Organization's Assets. Complete this part if the organization answered "Yes" on Form 990, Part IV, line 32, or Form 990-EZ, line 36. Part II can be duplicated if additional space is needed.
1(a) Description of asset(s)
distributed or transaction
expenses paid 		(b) Date of
distribution 		(c) Fair market value of
asset(s) distributed or
amount of transaction
expenses 		(d) Method of
determining FMV for
asset(s) distributed or
transaction expenses 		(e) EIN of recipient (f) Name and address of recipient (g) IRC section
of recipient(s) (if
tax-exempt) or type
of entity
Yes
No
2
Did or will any officer, director, trustee, or key employee of the organization:
a
Become a director or trustee of a successor or transferee organization? .........................
2a
Yes
 
b
Become an employee of, or independent contractor for, a successor or transferee organization? .....................
2b
 
 
c
Become a direct or indirect owner of a successor or transferee organization? .....................
2c
 
No
d
Receive, or become entitled to, compensation or other similar payments as a result of the organization's liquidation, termination, or dissolution? ........
2d
 
No
e
If the organization answered "Yes" to any of the questions on lines 2a through 2d, provide the name of the person involved and explain in Part III. bullet
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or Form 990-EZ.
Cat. No. 50087Z
Schedule N (Form 990 or 990-EZ) (2018)

Page 3
Schedule N (Form 990 or 990-EZ) (2018)
Page 3
Part III
Supplemental Information. Provide the information required by Part I, lines 2e and 6c, and Part II, line 2e. Also complete this part to provide any additional information.
Return Reference Explanation
Part I, Line 2e: Person(s) Involved: TJ Whitelaw, Katherine Haley, Scott Simpson, Adam Kapner, Michele Perkins, and Paula Amato
Part I, Line 2e: Explanation of Involvement: The board members and officers listed above will serve as board members and officers of New England College, the transferee organization.
Schedule N (Form 990 or 990-EZ) (2018)



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