Museum of Contemporary Art Cleveland

Analysis

Museum of Contemporary Art Cleveland is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in October 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 publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2023, Museum of Contemporary Art Cleveland reported income of $3.9m and spending of $3.7m, spending 94% of its income. Across the 5 years on record, from July 2019 to July 2023, income fell from $4.4m to $3.9m (-10%), an average of -2.7% a year. The sharpest change came in the year to July 2022, when income rose by 44%. Over the whole period it spent 114% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Museum of Contemporary Art Cleveland sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within OH. Charities of a similar size with the same main cause include Creative Time Inc ($3.9m), New Group Inc ($3.9m) and National Black Theatre Workshop Incorporated ($3.9m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 97% and program service revenue 0.2% of the total. Compensation of current officers, directors and key employees was $300k (8.1% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $26.3m against liabilities of $1.0m, net assets of $25.3m. It reported 62 employees.