The Center for Contemporary Art

Analysis

The Center for Contemporary Art is a registered charity in United States, based in Bedminster, NJ. It received its IRS tax-exemption ruling in November 1974, 52 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Center for Contemporary Art reported income of $637k and spending of $622k, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $568k to $637k (+12%), an average of +2.9% a year. The sharpest change came in the year to December 2021, when income rose by 17%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Center for Contemporary Art sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 78th percentile within NJ. Charities of a similar size with the same main cause include Motorcyclepedia ($637k), Longmont Symphony Society Inc ($638k) and Jackson Hole Childrens Museum ($637k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 31% and program service revenue 65% of the total. Compensation of current officers, directors and key employees was $90k (14% of expenses). Other salaries and wages came to $190k. At year end it held assets of $293k against liabilities of $120k, net assets of $174k. It reported 11 employees.