Portland Institute for Contemporary Art

Analysis

Portland Institute for Contemporary Art is a registered charity in United States, based in Portland, OR. It received its IRS tax-exemption ruling in June 1996, 30 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 June 2023, Portland Institute for Contemporary Art reported income of $1.3m and spending of $2.2m, spending 167% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.3m to $1.3m (-42%), an average of -13% a year. The sharpest change came in the year to June 2021, when income rose by 49%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Portland Institute for Contemporary Art sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within OR. Charities of a similar size with the same main cause include The Childrens Museum of New Hampshire ($1.3m), Brain Injury Center ($1.3m) and Millan Theatre Company ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 89% and program service revenue 5.5% of the total. Compensation of current officers, directors and key employees was $81k (3.7% of expenses). Other salaries and wages came to $638k. At year end it held assets of $2.3m against liabilities of $512k, net assets of $1.8m. It reported 62 employees.