Institute of Contemporary Art San Francisco

Analysis

Institute of Contemporary Art San Francisco is a registered charity in United States, based in San Francisco, CA. It received its IRS tax-exemption ruling in April 2022, 4 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, Institute of Contemporary Art San Francisco reported income of $2.2m and spending of $2.4m, spending 110% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $2.6m to $2.2m (-15%), an average of -15% a year. 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, Institute of Contemporary Art San Francisco sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within CA. Charities of a similar size with the same main cause include Southern California Railway Museum Inc ($2.2m), Imagine Art Inc ($2.2m) and Commonwealth Shakespeare Company Inc ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $367k (15% of expenses). Other salaries and wages came to $467k. It paid $48k in professional fundraising fees. At year end it held assets of $1.7m against liabilities of $1.1m, net assets of $615k. It reported 10 employees.