THE INSTITUTE OF CULTURAL AFFAIRS

EIN: 237394613 501(c)(3)

CHICAGO, IL

Total Revenue
$2,049,589
Total Expenses
$2,044,767
Total Assets
$528,226
Net Assets
$129,068
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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
1975
Legal Domicile
IL
Principal Officer
JESSICA PAYNE
Phone
7737696363
Tax Period
2024-01-01 to 2024-12-31

THE INSTITUTE OF CULTURAL AFFAIRS, founded in 1975, is a small nonprofit that reported $680K in total revenue in fiscal year 2018. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $654K left a modest 4% surplus.

Mission

Building a just and equitable society in harmony with planet earth. ICA has realized this mission through locally-led sustainable community development initiatives which assist people to visualize, plan, and implement consensus-based strategies

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $689,028
Program Service Revenue $1,356,595
Investment Income $3,966
Other Revenue $0
TOTAL REVENUE $2,049,589

Expense Breakdown

Grants Paid $0
Salaries & Benefits $243,343
Fundraising Expenses $25,089
Program Expenses $1,894,309
Other Expenses $1,801,424
TOTAL EXPENSES $2,044,767

Year-over-Year Comparison

2024 2023 Change
Revenue $2,049,589 $1,700,606 +0.2%
Expenses $2,044,767 $1,719,415 +0.2%
Net Income $4,822 $-18,809 -1.3%
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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Governance

Voting Members
11
Independent Members
11
Employees
5
Volunteers
10

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
4
$0
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JESSICA PAYNE CHAIR 3.00
Officer Director
$0 $0 $0
MARK MCMULLEN BUSHMAN SECRETARY 2.00
Officer Director
$0 $0 $0
CHRIS BRUBAKER TREASURER 2.00
Officer Director
$0 $0 $0
DAMILOLA JOHNSON ASSISTANT TREASURER 2.00
Officer Director
$0 $0 $0
SONYA BUTTS DIRECTOR 1.00
Director
$0 $0 $0
LILLIE FOX DIRECTOR 1.00
Director
$0 $0 $0
MARGARET GERGEN DIRECTOR 1.00
Director
$0 $0 $0
DEBORAH GRAHAM DIRECTOR 1.00
Director
$0 $0 $0
MICHELLE HALL STERN DIRECTOR 1.00
Director
$0 $0 $0
MEIDA MCNEAL DIRECTOR 1.00
Director
$0 $0 $0
LAKESHIA WRIGHT DIRECTOR 1.00
Director
$0 $0 $0
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
2024 $2,049,589 $2,044,767 $528,226 $4,822
2023 $1,700,606 $1,719,415 $469,135 $-18,809
2022 $1,383,482 $1,533,094 $494,465 $-149,612
2021 $1,845,431 $1,780,856 $657,462 $64,575
2020 $657,816 $537,789 $441,473 $120,027
2019 $716,325 $776,549 $497,720 $-60,224
2018 $680,015 $653,785 $592,259 $26,230
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