Contemporary Arts Center

Analysis

Contemporary Arts Center is a registered charity in United States, based in Cincinnati, OH. It received its IRS tax-exemption ruling in July 1940, 86 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 publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Contemporary Arts Center reported income of $4.8m and spending of $5.1m, spending 106% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $5.1m to $4.8m (-6.9%), an average of -1.8% a year. The sharpest change came in the year to August 2020, when income dropped by 23%. Over the whole period it spent 113% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Contemporary Arts Center sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within OH. Charities of a similar size with the same main cause include Economic Club of New York ($4.8m), The Book Arts Press Inc ($4.8m) and Experience Childrens Museum ($4.8m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 86% and program service revenue 0.8% of the total. Compensation of current officers, directors and key employees was $157k (3.1% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $33.6m against liabilities of $8.2m, net assets of $25.4m. It reported 68 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.