INSTITUTE OF CONTEMPORARY ART SAN … - 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

2022

Legal Domicile

Principal Officer

ALISON GASS

Phone

4152269250

Tax Period

2024-01-01 to 2024-12-31

INSTITUTE OF CONTEMPORARY ART SAN FRANCISCO, founded in 2022, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.5M in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $2.2M left a modest 13% surplus.

Mission

THE INSTITUTE OF CONTEMPORARY ART SAN FRANCISCO (ICA SF) IS A FREE, NON-COLLECTING CONTEMPORARY ART MUSEUM. ICA SF OFFERS ARTISTS FROM ALL OVER THE WORLD AN OPPORTUNITY TO PUSH BOUNDARIES, EXPERIMENT WITH NEW IDEAS, AND TAKE RISKS. THROUGH PARTNERSHIPS WITH ARTISTS AND COLLABORATORS, ICA SF SEEKS TO EXPLORE THE MOST CRITICAL SOCIAL, POLITICAL, AND CULTURAL ISSUES HAPPENING IN THE WORLD AROUND US THROUGH THE LENS OF ARTISTIC PRACTICE AND IS COMMITTED TO EXPANDING THE FUTURE CANON OF ARTISTS SHOWN IN INSTITUTIONS. BUILDING UPON THE LESSONS LEARNED IN THE FIRST "START UP" YEARS, ICA SF REMAINS CONTINUOUSLY "UNDER CONSTRUCTION," COMMITTING TO A NIMBLENESS RARELY FOUND IN ART INSTITUTIONS. ICA SF SEEKS TO MAKE CONTEMPORARY ART RELEVANT AND MEANINGFUL FOR ALL AUDIENCES.

Program Service Accomplishments

Program 1

Expenses: $1,488,025 Revenue: $10,192

THE INSTITUTE OF CONTEMPORARY ART SAN FRANCISCO IS A NON-COLLECTING ART MUSEUM THAT OFFERS ARTISTS FROM AROUND THE WORLD AN OPPORTUNITY TO PUSH BOUNDARIES, EXPERIMENT WITH NEW IDEAS, AND TAKE RISKS. WE BELIEVE IN THE POWER OF ART TO EXPLORE THE MOST CRITICAL SOCIAL, POLITICAL, AND CULTURAL QUESTIONS OF OUR TIME AND ARE COMMITTED TO EXPANDING THE ART HISTORICAL CANON OF THE FUTURE. BUILDING UPON THE LESSONS LEARNED IN OUR EARLY START-UP YEARS, ICA SF REMAINS CONTINUOUSLY "UNDER CONSTRUCTION," EMBRACING A NIMBLENESS RARELY FOUND IN ART INSTITUTIONS. THIS APPROACH ALLOWS US TO RESPOND DYNAMICALLY TO THE CITY'S EVOLVING NEEDS AND TO GENERATE CULTURAL MOMENTUM THAT CATALYZES POSITIVE LASTING CHANGE IN NEIGHBORHOODS AND COMMUNITIES. WE SEEK TO MAKE CONTEMPORARY ART RELEVANT AND MEANINGFUL FOR ALL AUDIENCES. ADMISSION IS ALWAYS FREE.

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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 $2,475,356

Program Service Revenue $0

Investment Income $896

Other Revenue $58,492

TOTAL REVENUE $2,534,744

Expense Breakdown

Grants Paid $0

Salaries & Benefits $865,247

Fundraising Expenses $447,687

Program Expenses $1,488,025

Other Expenses $1,330,135

TOTAL EXPENSES $2,195,382

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,534,744	$2,223,505	+0.1%
Expenses	$2,195,382	$2,446,259	-0.1%
Net Income	$339,362	$-222,754	-2.5%

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

$282,109

Total Directors

$212,330

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ETHAN BEARD	CHAIR	2.00	Officer Director	$0	$0	$0
SUSAN SWIG	VICE CHAIR	1.00	Director	$0	$0	$0
ALISON GASS	PRESIDENT, KREIGER FAMILY	40.00	Officer Director	$183,904	$28,426	$212,330
DAVID HORNIK	TREASURER	1.00	Director	$0	$0	$0
CATIA HAGOPIAN	SECRETARY	2.00	Officer Director	$0	$0	$0
KAYLEEN ARNKE	DIRECTOR	1.00	Director	$0	$0	$0
MIA CONWAY	DIRECTOR	1.00	Director	$0	$0	$0
JEFFREY DAUBER	DIRECTOR	1.00	Director	$0	$0	$0
LIZELLE GREEN	DIRECTOR	1.00	Director	$0	$0	$0
PAMELA HORNIK	DIRECTOR	1.00	Director	$0	$0	$0
RACHEL JONES	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTINA MCGUIRE	DIRECTOR	1.00	Director	$0	$0	$0
GABRIELLA MISHEV	DIRECTOR	1.00	Director	$0	$0	$0
MAX OBATA	DIRECTOR	1.00	Director	$0	$0	$0
WENDY CHANG	CHIEF FINANCIAL OFFICER	20.00	Officer	$69,779	$0	$69,779

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	$2,534,744	$2,195,382	$514,047	$339,362
2023	$2,223,505	$2,446,259	$1,736,521	$-222,754
2022	$2,607,776	$1,769,865	$2,365,839	$837,911
2022	$2,607,776	$1,748,026	$2,387,678	$859,750

INSTITUTE OF CONTEMPORARY ART SAN FRANCISCO