THE INSTITUTE OF CONTEMPORARY ART INC (EIN 042104327) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1936

Legal Domicile

Principal Officer

NORA BURNETT ABRAMS

Phone

6174783100

Tax Period

2024-07-01 to 2025-06-30

THE INSTITUTE OF CONTEMPORARY ART INC, founded in 1936, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $31.0M in total revenue in fiscal year 2024. Revenue surged 52% from the prior year, signaling strong growth momentum. The organization ran a surplus of $9.4M, a strong 30% operating margin.

Mission

FOR DESCRIPTION.THE MISSION OF THE INSTITUTE OF CONTEMPORARY ART ("ICA") IS TO SHARE THE PLEASURES OF REFLECTION, INSPIRATION, PROVOCATION, AND IMAGINATION THAT CONTEMPORARY ART OFFERS THROUGH PUBLIC ACCESS TO ART, ARTISTS, AND THE CREATIVE PROCESS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $26,063,233

Program Service Revenue $2,611,982

Investment Income $1,607,480

Other Revenue $739,824

TOTAL REVENUE $31,022,519

Expense Breakdown

Grants Paid $0

Salaries & Benefits $10,534,113

Fundraising Expenses $1,421,507

Program Expenses $16,592,895

Other Expenses $11,106,975

TOTAL EXPENSES $21,641,088

Year-over-Year Comparison

	2024	2023	Change
Revenue	$31,022,519	$20,448,663	+0.5%
Expenses	$21,641,088	$20,357,480	+0.1%
Net Income	$9,381,431	$91,183	+101.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

275

Volunteers

128

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✓ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$937,725

Total Directors

$560,584

Key Employees

$243,676

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JILL MEDVEDOW	DIRECTOR/EX-OFFICIO (UNTIL 3/31/25)	37.50	Officer Director	$516,794	$43,790	$560,584
CAMILO ALVAREZ	EX-OFFICIO, ADVISORY BOARD CHAIR	1.00	Director	$0	$0	$0
KATRINE BOSLEY	TRUSTEE	1.00	Director	$0	$0	$0
CHARLES BRIZIUS	TRUSTEE	1.00	Director	$0	$0	$0
DR PAUL BUTTENWIESER	TRUSTEE	1.00	Director	$0	$0	$0
ADELLE CHANG	TRUSTEE	1.00	Director	$0	$0	$0
KAREN SWETT CONWAY	TRUSTEE	1.00	Director	$0	$0	$0
MARY SCHNEIDER ENRIQUEZ	TRUSTEE	1.00	Director	$0	$0	$0
JENNIFER EPSTEIN	TRUSTEE	1.00	Director	$0	$0	$0
OLIVER EWALD	TRUSTEE (UNTIL 9/12/24)	1.00	Director	$0	$0	$0
DAVID FEINBERG	TRUSTEE	1.00	Director	$0	$0	$0
JESSE FELDMAN	TRUSTEE	1.00	Director	$0	$0	$0
ILANA FINLEY	TRUSTEE	1.00	Director	$0	$0	$0
JAMES C FOSTER	TRUSTEE	1.00	Director	$0	$0	$0
MATHIEU GAULIN	TRUSTEE	1.00	Director	$0	$0	$0
MARK GOODMAN	TRUSTEE	1.00	Director	$0	$0	$0
HILARY GROVE	TRUSTEE	1.00	Director	$0	$0	$0
VIVIEN HASSENFELD	TRUSTEE	1.00	Director	$0	$0	$0
HAL HESS	TRUSTEE	1.00	Director	$0	$0	$0
CHARLA JONES	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT KWAK	TRUSTEE	1.00	Director	$0	$0	$0
NATALIE LEMLE	TRUSTEE	1.00	Director	$0	$0	$0
MANNY LOPES	TRUSTEE	1.00	Director	$0	$0	$0
KENT LUCKEN	TRUSTEE	1.00	Director	$0	$0	$0
TRISTIN MANNION	TRUSTEE	1.00	Director	$0	$0	$0
CHRISTINE MARAGANORE	TRUSTEE	1.00	Director	$0	$0	$0
DAN O'CONNELL	TRUSTEE (UNTIL 9/12/24)	1.00	Director	$0	$0	$0
ERICA GERVAIS PAPPENDICK	TRUSTEE	1.00	Director	$0	$0	$0
DEVAL PATRICK	TRUSTEE	1.00	Director	$0	$0	$0
EMMETT G PRICE III	TRUSTEE	1.00	Director	$0	$0	$0
DAVID PUTH	TRUSTEE	1.00	Director	$0	$0	$0
LESLIE RIEDEL	TRUSTEE	1.00	Director	$0	$0	$0
MARIO RUSSO	TRUSTEE	1.00	Director	$0	$0	$0
MARK SCHWARTZ	TRUSTEE	1.00	Director	$0	$0	$0
NICK WINTON	TRUSTEE (FROM 9/17/24)	1.00	Director	$0	$0	$0
NICOLE ZATLYN	TRUSTEE	1.00	Director	$0	$0	$0
NORA BURNETT ABRAMS	DIRECTOR (FROM 5/1/2025)	1.00	Officer Director	$0	$0	$0
CHARLOTTE WAGNER	PRESIDENT	1.00	Officer Director	$0	$0	$0
KAMBIZ SHAHBAZI	TREASURER	1.00	Officer Director	$0	$0	$0
STEVEN D CORKIN	CO-CHAIR	1.00	Officer Director	$0	$0	$0
BRIDGITT EVANS	CO-CHAIR	1.00	Officer Director	$0	$0	$0
FOTENE DEMOULAS	VICE CHAIR	1.00	Officer Director	$0	$0	$0
WHITNEY LEESE CHIEF OF STAFF	GOV./SEC./CLERK	37.50	Officer	$158,018	$8,503	$166,521
NATASA VUCETIC CHIEF FINANCIAL	& OPERATING OFFICER (UNTIL 7/12/24)	37.50	Officer	$128,487	$25,206	$153,693
MARIO ROSSI CHIEF	FINANCIAL OFFICER (FROM 11/4/24)	37.50	Officer	$43,029	$13,898	$56,927
RUTH ERICKSON CHIEF CURATOR	DIRECTOR FOR CURATORIAL AFFAIRS	37.50	Key Emp	$230,651	$13,025	$243,676
KATRINA FOSTER	DIRECTOR OF DEVELOPMENT	37.50	Highest	$247,410	$41,131	$288,541
COLETTE RANDALL CHIEF	COMMUNICATIONS & MARKETING OFFICER	37.50	Highest	$202,867	$40,038	$242,905
KELLY GIFFORD	DEPUTY DIRECTOR	37.50	Highest	$211,904	$11,276	$223,180
KAY MORIARTY O'DWYER	DIRECTOR OF INDIVIDUAL GIVING	37.50	Highest	$175,733	$40,030	$215,763
JOHN ANDRESS DIRECTOR	OF PERFORMING & MEDIA ARTS	37.50	Highest	$180,052	$18,922	$198,974

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$31,022,519	$21,641,088	$146,091,995	$9,381,431
2024	$20,448,663	$20,357,480	$130,407,477	$91,183
2023	$23,241,848	$22,036,975	$121,773,264	$1,204,873
2022	$23,728,812	$21,762,422	$113,826,722	$1,966,390
2021	$26,427,567	$14,575,137	$121,321,339	$11,852,430
2020	$18,722,449	$17,421,156	$109,903,281	$1,301,293
2019	$14,555,912	$20,054,059	$110,336,752	$-5,498,147
2018	$32,331,158	$16,959,454	$114,520,974	$15,371,704

THE INSTITUTE OF CONTEMPORARY ART INC