MIDWAY CONTEMPORARY ART

EIN: 411974608 501(c)(3) Arts, Culture & Humanities

MINNEAPOLIS, MN

Total Revenue
$1,257,722
Total Expenses
$674,498
Total Assets
$4,869,036
Net Assets
$2,771,441
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Financial Trends

Organization Details

Formation Year
2000
Legal Domicile
MN
Principal Officer
JOHN RASMUSSEN
Phone
6126054504
Tax Period
2023-01-01 to 2023-12-31

MIDWAY CONTEMPORARY ART, founded in 2000, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.3M in total revenue in fiscal year 2023. Revenue fell 22% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $583K, a strong 46% operating margin.

Mission

MIDWAY CONTEMPORARY ART IS A NONPROFIT ORGANIZATION THAT SUPPORTS THE CREATION OF AND REFLECTION UPON VISUAL ART. MIDWAY FACILITATES SIGNIFICANT NEW DEVELOPMENTS IN THE FIELD AND PRESENTS AUDIENCES WITH INTIMATE ACCESS TO VISUAL CULTURE.

Program Service Accomplishments

Program 1
Expenses: $526,563

EXHIBITIONS:IN 2023 OUR EXHIBITIONS WERE ON A BRIEF PAUSE AS WE RENOVATED OUR NEW PERMANENT HOME AT 1509 NE MARSHALL STREET IN MINNEAPOLIS. WE CONTINUED TO WORK WITH UPCOMING ARTISTS KRM MOONEY (NYC)...

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EXHIBITIONS:IN 2023 OUR EXHIBITIONS WERE ON A BRIEF PAUSE AS WE RENOVATED OUR NEW PERMANENT HOME AT 1509 NE MARSHALL STREET IN MINNEAPOLIS. WE CONTINUED TO WORK WITH UPCOMING ARTISTS KRM MOONEY (NYC) AND CAMERON PATRICA DOWNEY (MPLS) TO PLAN AND FABRICATE WORKS FOR THEIR UPCOMING SOLO-EXHIBITIONS. MOONEY MADE MULTIPLE SITE VISITS TO MINNEAPOLIS TO WORK WITH A LOCAL FOUNDRY AND CONNECT WITH THE TWIN CITIES ARTS COMMUNITY. LIBRARY:"LAUNCHED IN 2007, OUR LIBRARY'S MISSION IS TO PROVIDE THE PUBLIC WITH THE MOST COMPREHENSIVE AND ACCESSIBLE RESOURCE FOR RESEARCH INTO CONTEMPORARY ART IN THE REGION. WE ADD BETWEEN 500-1,000 SELECTED TITLES TO THE COLLECTION ANNUALLY. HOLDING OVER 11,000 VOLUMES AS OF 2023 INCLUDING MONOGRAPHS, EXHIBITION CATALOGS, REFERENCE BOOKS, DVDS, AND PERIODICALS IT PROVIDES A BROAD OVERVIEW OF ARTISTIC ACTIVITY AND ART PUBLISHING FROM AROUND THE WORLD. MANY OF THE BOOKS AND OTHER MATERIALS IN MIDWAY'S COLLECTION ARE NOT OTHERWISE AVAILABLE IN MINNESOTA. THE LIBRARY IS NON-CIRCULATING AND DOES NOT REQUIRE MEMBERSHIP OR APPOINTMENTS IT IS ENTIRELY FREE AND OPEN TO THE PUBLIC. BECAUSE OF THIS UNIQUE ACCESSIBILITY, THE LIBRARY HAS BECOME A POPULAR DESTINATION FOR STUDENTS, ACADEMICS, ARTISTS, WRITERS, CURATORS, AND VISITORS TO THE TWIN CITIES. UNTIL THE PANDEMIC, OUR LIBRARY WAS NON-CIRCULATING. IN THE SUMMER OF 2020, WE BEGAN A CURBSIDE LENDING PROGRAM THAT WAS EXTREMELY SUCCESSFUL. LIBRARY MATERIALS ARE FEATURED PROMINENTLY ON OUR WEBSITE, MAKING IT EASY TO BROWSE NEW ACQUISITIONS FROM ANYWHERE; PATRONS WERE ABLE TO REQUEST UP TO THREE BOOKS VIA EMAIL, SCHEDULE A TIME FOR CURBSIDE PICK-UP, AND RETURN THEM AFTER TWO WEEKS. SINCE REOPENING THE LIBRARY IN ITS TEMPORARY SIXTH ST. SE LOCATION FOR IN-PERSON USE IN SPRING OF 2021, WE HAVE CONTINUED TO PROVIDE CURBSIDE LENDING FOR THOSE WHO PREFER TO BORROW BOOKS FOR AT HOME USE." VISUAL ARTS FUND:"THE VISUAL ARTS FUND IS A GRANT PROGRAM ESTABLISHED IN 2016 BY MIDWAY CONTEMPORARY ART WITH GENEROUS SUPPORT FROM THE ANDY WARHOL FOUNDATION FOR THE VISUAL ARTS. MINNEAPOLIS ST. PAUL IS ONE OF THIRTY-FIVE METRO AREAS INCLUDED IN WARHOL'S REGIONAL REGRANTING PROGRAM, WHICH IS AIMED AT PROMOTING VIBRANT ARTISTIC ACTIVITY IN CITIES ACROSS THE UNITED STATES. THE VAF SUPPORTS THE DEVELOPMENT OF PROJECTS AND INITIATIVES HAPPENING OUTSIDE OF ESTABLISHED VENUES THAT ENGAGE THE PUBLIC WITH VISUAL ART AND MIGHT NOT OTHERWISE OCCUR.AFTER OFFERING A SERIES OF EMERGENCY AND COMMUNITY RELIEF GRANTS DURING 2020, WE RETURNED TO THE VISUAL ARTS FUND'S REGULAR GRANTMAKING CYCLE. IN DECEMBER 2023 WE AWARDED SIX $10,000 GRANTS TO PROJECTS INCLUDING BLUESKY PHOTO WORKSHOP, A SEASONAL 6-WEEK LONG PHOTO WORKSHOP; ERA EDITIONS, AN EMERGING ARTIST RUN PUBLISHING PROJECT; PAIR (PILOT ARTIST IN RESIDENCE), AN ARTIST-RUN RESIDENCY PROGRAM; PIZZA AND PUPPETS, A LIVE, POP-UP PUPPETRY PERFORMANCE SERIES; TEMP/REVIEWS, AN ONLINE PLATFORM FOR REVIEWS OF TWIN CITIES-BASED VISUAL ART EXHIBITIONS; AND WHY DON'T YOU WA/ONDER?, A TRANSFORMATIVE PUBLIC INSTALLATION PROJECT CENTERED IN NORTH MINNEAPOLIS. "

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,146,231
Program Service Revenue $71
Investment Income $0
Other Revenue $111,420
TOTAL REVENUE $1,257,722

Expense Breakdown

Grants Paid $51,500
Salaries & Benefits $358,858
Fundraising Expenses $86,076
Program Expenses $526,563
Other Expenses $264,140
TOTAL EXPENSES $674,498

Year-over-Year Comparison

2023 2022 Change
Revenue $1,257,722 $1,603,406 -0.2%
Expenses $674,498 $768,770 -0.1%
Net Income $583,224 $834,636 -0.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
14
Independent Members
13
Employees
5
Volunteers
N/A

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
3
$130,152
Total Directors
13
$130,152
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ALAN POLSKY CHAIR 2.00
Officer Director
$0 $0 $0
CAROLYN TAYLOR TRUSTEE 2.00
Director
$0 $0 $0
JAMES CAHN TRUSTEE 2.00
Director
$0 $0 $0
JOHN RASMUSSEN EXECUTIVE DIR. 40.00
Officer Director
$130,152 $0 $130,152
JULIA OFFENHAUSER TRUSTEE 2.00
Director
$0 $0 $0
KAREN HEITHOFF TRUSTEE 2.00
Director
$0 $0 $0
MATTHEW KENNEDY TREASURER 2.00
Officer Director
$0 $0 $0
KEVIN HACKLER TRUSTEE 2.00
Director
$0 $0 $0
LESLIE COHAN TRUSTEE 2.00
Director
$0 $0 $0
PAO HOUA HER TRUSTEE 2.00
Director
$0 $0 $0
SALLY BLANKS TRUSTEE 2.00
Director
$0 $0 $0
UTE BERTOG TRUSTEE 2.00
Director
$0 $0 $0
TOBY DAYTON TRUSTEE2 2.00
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 No data No data No data No data
2023 $1,257,722 $674,498 $4,869,036 $583,224
2022 $1,603,406 $768,770 $3,877,893 $834,636
2021 $1,320,927 $506,154 $2,557,305 $814,773
2020 $697,615 $691,208 $549,395 $6,407
2019 $513,523 $594,611 $538,543 $-81,088
2018 $810,179 $633,695 $663,124 $176,484
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