INTERNATIONAL CENTER OF PHOTOGRAPHY

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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

1974

Legal Domicile

Principal Officer

BOB JEFFREY

Phone

2128570000

Tax Period

2024-07-01 to 2025-06-30

INTERNATIONAL CENTER OF PHOTOGRAPHY, founded in 1974, is a community nonprofit in the Arts, Culture & Humanities sector that reported $7.5M in total revenue in fiscal year 2024. Revenue fell 65% from the prior year — a significant decline worth monitoring. Expenses of $15.2M exceeded revenue, resulting in a 101% operating deficit.

Mission

THE INTERNATIONAL CENTER OF PHOTOGRAPHY IS A MUSEUM AND SCHOOL DEDICATED TO THE UNDERSTANDING AND APPRECIATION OF PHOTOGRAPHY. ICP CREATES PROGRAMS OF THE HIGHEST QUALITY TO ADVANCE KNOWLEDGE OF THE MEDIUM. THESE INCLUDE EXHIBITIONS, COLLECTIONS, AND EDUCATION FOR THE GENERAL PUBLIC, MEMBERS, STUDENTS, AND PROFESSIONALS IN THE FIELD OF PHOTOGRAPHY.

Program Service Accomplishments

Program 1

Expenses: $6,348,692 Revenue: $3,320,335

THE INTERNATIONAL CENTER OF PHOTOGRAPHY IS A MUSEUM, SCHOOL, AND COLLECTION. ICP'S EDUCATION OFFERINGS INCLUDE EXHIBITIONS, CLASSES, PUBLIC PROGRAMS, SEMINARS, AND WORKSHOPS THAT COVER ALL ASPECTS OF PHOTOGRAPHY. ITS SCHOOL OFFERS ON-SITE AND ONLINE PROGRAMS. THERE ARE OPEN EDUCATION CLASSES FOR ADULTS AND THREE FULL-TIME, YEAR-LONG CERTIFICATE PROGRAMS IN DOCUMENTARY AND CREATIVE PRACTICES PHOTOGRAPHY. THE MUSEUM PRESENTS THREE CYCLES OF INTERNATIONAL EXHIBITIONS AND ITS LIBRARY AND COLLECTION SERVE STUDENTS, FACULTY, STAFF, SCHOLARS, AND THE GENERAL PUBLIC.

Program 2

Expenses: $4,353,547 Revenue: $438,859

EXHIBITIONS - ICP'S IN-HOUSE AND TRAVELING EXHIBITIONS REFLECT THE HISTORY OF PHOTOGRAPHIC STYLES AND APPLICATIONS.

Program 3

Expenses: $1,484,354 Revenue: $216,055

ARCHIVES & COLLECTIONS - ICP MAINTAINS A PERMANENT COLLECTION OF APPROXIMATELY 200,000 PHOTOGRAPHIC PRINTS, 5,000 TIME BASED MEDIA AUDIO, VIDEO AND MOTION PICTURE FILMS, AND 200,000 NEGATIVES...

ARCHIVES & COLLECTIONS - ICP MAINTAINS A PERMANENT COLLECTION OF APPROXIMATELY 200,000 PHOTOGRAPHIC PRINTS, 5,000 TIME BASED MEDIA AUDIO, VIDEO AND MOTION PICTURE FILMS, AND 200,000 NEGATIVES. GENERALLY, RESEARCHERS UTILIZE THE ICP PRINT STUDY ROOM FOR CONSULTED WORKS.

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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 $3,840,902

Program Service Revenue $3,852,955

Investment Income $100,678

Other Revenue $-260,819

TOTAL REVENUE $7,533,716

Expense Breakdown

Grants Paid $883,438

Salaries & Benefits $6,825,622

Fundraising Expenses $1,066,958

Program Expenses $12,186,593

Other Expenses $7,414,499

TOTAL EXPENSES $15,178,559

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,533,716	$21,739,420	-0.7%
Expenses	$15,178,559	$14,610,209	+0.0%
Net Income	$-7,644,843	$7,129,211	-2.1%

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

376

Volunteers

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

$663,526

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CARYL S ENGLANDER	CO-CHAIR	8.00	Officer Director	$0	$0	$0
JEFFREY A ROSEN	PRESIDENT & ACTING TREASURER	8.00	Officer Director	$0	$0	$0
RENEE HARBERS LIDDELL	EXECUTIVE VICE PRESIDENT	4.00	Officer Director	$0	$0	$0
KEN NICHOLSON	EXECUTIVE VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
MICHAEL A CLINTON	VICE CHAIR	4.00	Officer Director	$0	$0	$0
JESSICA NAGLE	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
STEFANO TONCHI	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
DIANE TUFT	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
ALMUDENA LEGORRETA	CO-CHAIR	2.00	Officer Director	$0	$0	$0
JAMES A D'AQUILA	TRUSTEE	2.00	Director	$0	$0	$0
CHIRAG CHOTALIA	TRUSTEE	2.00	Director	$0	$0	$0
KATHERINE CHIA	TRUSTEE	2.00	Director	$0	$0	$0
JANE CORKIN	TRUSTEE	2.00	Director	$0	$0	$0
ADAM FUSS	TRUSTEE	2.00	Director	$0	$0	$0
UZODINMA IWEALA	TRUSTEE	2.00	Director	$0	$0	$0
JAN W MULDER	TRUSTEE	2.00	Director	$0	$0	$0
PAT SCHOENFELD	TRUSTEE	2.00	Director	$0	$0	$0
NEAL ZUCKERMAN	TRUSTEE	2.00	Director	$0	$0	$0
BOB JEFFREY	CHIEF EXECUTIVE OFFICER	40.00	Officer	$270,000	$0	$270,000
TAMA O'BRIEN	COUNSEL & MANAGING DIRECTOR	37.50	Officer	$148,967	$17,348	$166,315
NICHOLAS READ	CHIEF FINANCIAL OFFICER	30.00	Officer	$185,017	$42,194	$227,211
CHLOE A JOLLY	SENIOR DIRECTOR OF DEVELOPMENT	37.50	Highest	$166,660	$5,263	$171,923
ELLEN S RUBIN	FINANCIAL CONTROLLER	37.50	Highest	$143,328	$6,894	$150,222
PER GYLFE	DIRECTOR OF EDUCATION	37.50	Highest	$132,602	$16,566	$149,168
KEVIN JIMENEZ	DIRECTOR OF FACILITIES	37.50	Highest	$123,513	$34,131	$157,644
DAVID LITTLE	FORMER EXECUTIVE DIRECTOR	0.00		$389,210	$6,973	$396,183

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	$7,533,716	$15,178,559	$60,549,338	$-7,644,843
2024	$21,739,420	$14,610,209	$67,230,757	$7,129,211
2023	$7,963,364	$15,019,573	$59,755,209	$-7,056,209
2022	$11,859,344	$13,152,647	$65,441,901	$-1,293,303
2021	$16,287,723	$10,573,656	$72,245,409	$5,714,067
2020	$13,311,038	$17,879,317	$78,791,074	$-4,568,279
2019	$38,126,825	$18,471,601	$71,308,812	$19,655,224
2018	$20,496,655	$17,177,282	$51,011,521	$3,319,373