PORTLAND INSTITUTE FOR CONTEMPORAR… - 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

1995

Legal Domicile

Principal Officer

REUBEN ROQUENI

Phone

5032421419

Tax Period

2024-07-01 to 2025-06-30

PORTLAND INSTITUTE FOR CONTEMPORARY ART, founded in 1995, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.0M in total revenue in fiscal year 2024. Revenue decreased 16% compared to the prior year. Expenses of $2.5M exceeded revenue, resulting in a 23% operating deficit.

Mission

PICA ACKNOWLEDGES AND ADVANCES THE EMERGING IDEAS IN ART BY FOSTERING THE CREATIVE EXPLORATIONS OF CONTEMPORARY ARTISTS.

Program Service Accomplishments

Program 1

Expenses: $1,890,695 Revenue: $117,969

THROUGH EXHIBITIONS, PERFORMANCES, ARTIST RESIDENCIES AND EDUCATIONAL PROGRAMS, PORTLAND INSTITUTE FOR CONTEMPORARY ART (PICA) ENABLES ARTISTS AND AUDIENCES ALIKE TO PUSH THE LIMITS OF ARTISTIC...

THROUGH EXHIBITIONS, PERFORMANCES, ARTIST RESIDENCIES AND EDUCATIONAL PROGRAMS, PORTLAND INSTITUTE FOR CONTEMPORARY ART (PICA) ENABLES ARTISTS AND AUDIENCES ALIKE TO PUSH THE LIMITS OF ARTISTIC EXPRESSION AND EXPLORE PROVOCATIVE NEW IDEAS THAT ILLUMINATE LIFE IN THE HERE AND NOW. PICA SUPPORTS THIS MISSION THROUGH DYNAMIC PROGRAMMING, AN UNWAVERING COMMITMENT TO ARTISTS, AND A CLEAR VISION OF THE IMPORTANCE OF THE ARTS IN THE LIVES OF INDIVIDUALS AND OF THE COMMUNITY AT LARGE. PICA CHAMPIONS CREATIVE EXPLORATION, LEADS THE CURIOUS IN DEEPENING THEIR UNDERSTANDING OF ART AND IDEAS, AND SUPPORTS THE AESTHETIC RISK-TAKING THAT CHALLENGES BOTH ARTISITS AND AUDIENCES WITH NEW WAYS OF SEEING, REPRESENTING AND RESPONDING TO CONTEMPORARY LIFE.

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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 $1,817,964

Program Service Revenue $117,969

Investment Income $2,632

Other Revenue $79,670

TOTAL REVENUE $2,018,235

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,021,424

Fundraising Expenses $329,662

Program Expenses $1,890,695

Other Expenses $1,453,336

TOTAL EXPENSES $2,474,760

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,018,235	$2,412,312	-0.2%
Expenses	$2,474,760	$2,331,200	+0.1%
Net Income	$-456,525	$81,112	-6.6%

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

$114,338

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALLIE FURLOTTI	DIRECTOR	3.00	Director	$0	$0	$0
ANDRE MIDDLETON	CHAIR	4.00	Officer Director	$0	$0	$0
COURTNEY DAILEY	OUTGOING CHAIR	3.00	Director	$0	$0	$0
PETER GRONQUIST	DIRECTOR	3.00	Director	$0	$0	$0
ANDREW DICKSON	DIRECTOR	3.00	Director	$0	$0	$0
EMILY FUSARO	VICE CHAIR	4.00	Officer Director	$0	$0	$0
SHELLY KAPOOR	DIRECTOR	3.00	Director	$0	$0	$0
BART FITZGERALD	DIRECTOR	3.00	Director	$0	$0	$0
CRISTI MILES	SECRETARY	3.00	Officer Director	$0	$0	$0
KEVIN WASHINGTON	TREASURER	4.00	Officer Director	$0	$0	$0
LYNNE BREDFELDT HADER	DIRECTOR	3.00	Director	$0	$0	$0
PHOEBE EBRIGHT	DIRECTOR	3.00	Director	$0	$0	$0
SHAWNA LIPTON	DIRECTOR	3.00	Director	$0	$0	$0
MICHAEL BERNARD STEVENSON	DIRECTOR	3.00	Director	$0	$0	$0
NISHAT AKHTAR	DIRECTOR	3.00	Director	$0	$0	$0
PAMELA BAKER-MILLER	DIRECTOR	3.00	Director	$0	$0	$0
SIDONY O'NEAL	DIRECTOR	3.00	Director	$0	$0	$0
STEPHANIE KELLEY	DIRECTOR	3.00	Director	$0	$0	$0
REUBEN ROQUENI	EXECUTIVE DIRECTOR	40.00	Officer	$105,000	$9,338	$114,338

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	$2,018,235	$2,474,760	$2,832,875	$-456,525
2024	No data	No data	No data	No data
2023	$1,323,921	$2,206,942	$2,263,203	$-883,021
2022	$2,056,196	$1,742,472	$3,126,920	$313,724
2021	$2,253,220	$1,436,586	$2,935,068	$816,634
2020	$1,514,631	$1,781,126	$1,967,087	$-266,495
2019	$2,295,791	$1,675,830	$2,093,836	$619,961

PORTLAND INSTITUTE FOR CONTEMPORARY ART