Society for Contemporary Art C-O T… - Form 990 Financial Data

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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

1940

Legal Domicile

Principal Officer

Parker James Thomas

Phone

3124433630

Tax Period

2024-08-01 to 2025-07-31

Society for Contemporary Art C-O The Art Institute of Chicago, founded in 1940, is a small nonprofit in the Arts, Culture & Humanities sector that reported $291K in total revenue in fiscal year 2024. Expenses of $545K exceeded revenue, resulting in a 88% operating deficit.

Mission

To support the Art Institute of Chicago by engaging the community in a dialogue about the art of our time and acquiring works that enrich the museums collection.

Program Service Accomplishments

Program 1

Expenses: $268,888 Revenue: $60,163

Lectures on contemporary art, held 6-8 times per year, which are free to members and the general public with attendance ranging from 75 to 200 persons. Member programs which generally consist of...

Lectures on contemporary art, held 6-8 times per year, which are free to members and the general public with attendance ranging from 75 to 200 persons. Member programs which generally consist of collection, exhibition and gallery tours. Support contemporary art focused programs at the Art Institute of Chicago. Contemporary art focused member travel.

Program 2

Expenses: $146,681

Purchase and subsequent donation of contemporary art to the Art Institute of Chicago.

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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 $242,001

Program Service Revenue $60,163

Investment Income $26,411

Other Revenue $-37,750

TOTAL REVENUE $290,825

Expense Breakdown

Grants Paid $0

Salaries & Benefits $137,114

Fundraising Expenses $34,757

Program Expenses $415,569

Other Expenses $408,237

TOTAL EXPENSES $545,351

Year-over-Year Comparison

	2024	2023	Change
Revenue	$290,825	$274,180	+0.1%
Expenses	$545,351	$413,641	+0.3%
Net Income	$-254,526	$-139,461	+0.8%

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

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

$86,864

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Yi Cao	Executive Director	040.00	Officer	$86,864	$0	$86,864
Patty Sternberg	Nominating/By-laws/Acquisitions	002.00	Director	$0	$0	$0
Jessica Diamond	Programming	002.00	Director	$0	$0	$0
David Salkin	Director	001.00	Director	$0	$0	$0
Parker Thomas	Treasurer	002.00	Officer Director	$0	$0	$0
Fenton Booth	Acquisiton	002.00	Director	$0	$0	$0
Paul Rehder	Director	001.00	Director	$0	$0	$0
Larry Antonatos	President	010.00	Officer Director	$0	$0	$0
Aron Gent	Membership Outreach	002.00	Director	$0	$0	$0
Eszter Borvendeg	Secretary	002.00	Officer Director	$0	$0	$0
Michelle Holland	Vice President/ Strategic Partnerships	005.00	Officer Director	$0	$0	$0
Caroline Brown	Director	001.00	Director	$0	$0	$0
Kate Neisser	Director	001.00	Director	$0	$0	$0
Michelle Edwards	Hospitality	002.00	Director	$0	$0	$0
Robert Munch	Director	001.00	Director	$0	$0	$0
Paula Molner	Director	001.00	Director	$0	$0	$0
Eric McKissak	Director	001.00	Director	$0	$0	$0
David Egeland	Director	001.00	Director	$0	$0	$0
Macol Stewart Cerda	Director	001.00	Director	$0	$0	$0
Zach Smith	Director	001.00	Director	$0	$0	$0
William Padnos	Director	001.00	Director	$0	$0	$0
Linda Usher	Director	001.00	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
2025	$290,825	$545,351	$881,116	$-254,526
2024	$274,180	$413,641	$1,029,384	$-139,461
2023	$532,326	$416,930	$1,135,380	$115,396
2022	$615,622	$490,622	$998,937	$125,000
2021	$247,722	$328,879	$871,301	$-81,157
2020	$678,236	$714,659	$924,799	$-36,423
2019	$364,181	$522,317	$1,009,514	$-158,136

Society for Contemporary Art C-O The Art Institute of Chicago