Museum of Contemporary Art Inc

Analysis

Museum of Contemporary Art Inc is a registered charity in United States, based in North Miami, FL. It received its IRS tax-exemption ruling in May 1982, 44 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 September 2023, Museum of Contemporary Art Inc reported income of $3.1m and spending of $2.9m, spending 96% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $2.4m to $3.1m (+28%), an average of +6.4% a year. The sharpest change came in the year to September 2022, when income rose by 61%. Over the whole period it spent 87% 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 Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within FL. Charities of a similar size with the same main cause include Boca Raton Historical Society Inc ($3.1m), Quad City Symphony Orchestra Association ($3.1m) and East Bay Performing Arts ($3.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 94% and program service revenue 4.2% of the total. Other salaries and wages came to $1.2m. At year end it held assets of $3.0m against liabilities of $145k, net assets of $2.9m. It reported 38 employees.