Institute of Contemporary Art Miami Inc (EIN 471251523) - 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

2014

Legal Domicile

Principal Officer

ALEX J GARTENFELD

Phone

3059015272

Tax Period

2022-10-01 to 2023-09-30

Institute of Contemporary Art Miami Inc, founded in 2014, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $12.1M in total revenue in fiscal year 2022. Revenue surged 32% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.9M, a strong 16% operating margin.

Mission

THE INSTITUTE OF CONTEMPORARY ART, MIAMI (ICA MIAMI), IS DEDICATED TO PROMOTING THE WORK OF CONTEMPORARY ARTISTS, AND TO THE EXCHANGE OF ART AND (CONTINUED ON SCHEDULE O)

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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 (2022)

Revenue Breakdown

Contributions & Grants $10,027,428

Program Service Revenue $43,537

Investment Income $193,063

Other Revenue $1,802,745

TOTAL REVENUE $12,066,773

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,934,360

Fundraising Expenses $991,636

Program Expenses $8,009,386

Other Expenses $7,250,859

TOTAL EXPENSES $10,185,219

Year-over-Year Comparison

	2022	2021	Change
Revenue	$12,066,773	$9,166,748	+0.3%
Expenses	$10,185,219	$10,265,997	0.0%
Net Income	$1,881,554	$-1,099,249	-2.7%

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

$479,846

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALEX GARTENFELD	ARTISTIC DIRECTOR	40.0	Officer	$327,309	$10,972	$338,281
ANTHONY TROISI	DIRECTOR OF FINANCE	40.0	Officer	$141,565	$0	$141,565
COURTNEY CASCI	DIR, DEVELOP & EXTRNL AFFAIRS	40.0	Highest	$133,578	$5,417	$138,995
KERRI KNEER	DIR OF EXHIBITS & VISITOR SVCS	40.0	Highest	$102,291	$4,267	$106,558
IRMA BRAMAN	CHAIR	5.0	Officer Director	$0	$0	$0
RAY ELLEN YARKIN	CHAIR	5.0	Officer Director	$0	$0	$0
JANICE LIPTON	VICE CHAIR	5.0	Officer Director	$0	$0	$0
MARGOT GREIG	PRESIDENT	5.0	Officer Director	$0	$0	$0
DEBI WECHSLER	SECRETARY	5.0	Officer Director	$0	$0	$0
PAULA MORABITO	TREASURER	5.0	Officer Director	$0	$0	$0
DAPHNA BENTATA	EXECUTIVE COMMITTEE	2.0	Director	$0	$0	$0
MONICA GROSSMAN	EXECUTIVE COMMITTEE	2.0	Director	$0	$0	$0
MANNY KADRE	EXECUTIVE COMMITTEE	2.0	Director	$0	$0	$0
EDWARD NICOLL	EXECUTIVE COMMITTEE	2.0	Director	$0	$0	$0
ANDI POTAMKIN	EXECUTIVE COMMITTEE	2.0	Director	$0	$0	$0
ALEX WITKOFF	EXECUTIVE COMMITTEE	2.0	Director	$0	$0	$0
MICHELE BEYER	TRUSTEE	2.0	Director	$0	$0	$0
DANIEL BERKOWITZ	TRUSTEE	2.0	Director	$0	$0	$0
SETH CAMPBELL	TRUSTEE	2.0	Director	$0	$0	$0
CATHERINE CARRAFIELL	TRUSTEE	2.0	Director	$0	$0	$0
MICHAEL CHAVIES	TRUSTEE	2.0	Director	$0	$0	$0
DEAN COLSON	TRUSTEE	2.0	Director	$0	$0	$0
SUZI CORDISH	TRUSTEE	2.0	Director	$0	$0	$0
PILAR CRESPI	TRUSTEE	2.0	Director	$0	$0	$0
RALPH J GINDI	TRUSTEE	2.0	Director	$0	$0	$0
JORGE GONZALEZ	TRUSTEE	2.0	Director	$0	$0	$0
STEVEN GUTTMAN	TRUSTEE	2.0	Director	$0	$0	$0
MATTHEW HERFIELD	TRUSTEE	2.0	Director	$0	$0	$0
KRIS HINSON	TRUSTEE	2.0	Director	$0	$0	$0
JOANNE R KATZ	TRUSTEE	2.0	Director	$0	$0	$0
TAMMY LEVINE	TRUSTEE	2.0	Director	$0	$0	$0
ROBERT LOWINGER	TRUSTEE	2.0	Director	$0	$0	$0
JOHN MARQUEZ	TRUSTEE	2.0	Director	$0	$0	$0
CHRISTINA MARTIN	TRUSTEE	2.0	Director	$0	$0	$0
ARLENE H MENDELSON	TRUSTEE	2.0	Director	$0	$0	$0
MAIA MONELL	TRUSTEE	2.0	Director	$0	$0	$0
DIANA MORRISON	TRUSTEE	2.0	Director	$0	$0	$0
AMANDA MULLEN	TRUSTEE	2.0	Director	$0	$0	$0
YANI O'NEAL	TRUSTEE	2.0	Director	$0	$0	$0
ARI ROTHSTEIN	TRUSTEE	2.0	Director	$0	$0	$0
CHANDRA RUDD	TRUSTEE	2.0	Director	$0	$0	$0
ANDRE SAKHAI	TRUSTEE	2.0	Director	$0	$0	$0
SARAH SCALI	TRUSTEE	2.0	Director	$0	$0	$0
LAURIE LYNN STARK	TRUSTEE	2.0	Director	$0	$0	$0
KAY TORSHEN	TRUSTEE	2.0	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	$12,066,773	$10,185,219	$56,703,275	$1,881,554
2022	$9,166,748	$10,265,997	$54,965,499	$-1,099,249
2021	$8,674,913	$7,375,649	$55,226,437	$1,299,264
2020	$5,897,117	$8,057,389	$53,751,875	$-2,160,272
2019	$10,222,707	$11,368,858	$55,633,157	$-1,146,151
2018	$7,777,844	$8,790,409	$57,794,738	$-1,012,565

Institute of Contemporary Art Miami Inc