Contemporary Art Group

Analysis

Contemporary Art Group is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in July 2013, 13 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 December 2023, Contemporary Art Group reported income of $255k and spending of $262k, spending 103% of its income. Across the 3 years on record, from December 2021 to December 2023, income fell from $287k to $255k (-11%), an average of -5.7% a year. The sharpest change came in the year to December 2022, when income dropped by 26%. 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 Art Group sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 61st percentile within CA. Charities of a similar size with the same main cause include Voices of Our Nations Arts Foundati on ($255k), Holland Society of New York ($255k) and Be Frank Foundation ($255k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 60% and program service revenue 40% of the total. Compensation of current officers, directors and key employees was $62k (24% of expenses). Other salaries and wages came to $104k. At year end it held assets of $32k against liabilities of $198k, net assets of -$166k. It reported 4 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.