San Jose Institute of Contemporary Art

Analysis

San Jose Institute of Contemporary Art is a registered charity in United States, based in San Jose, CA. It received its IRS tax-exemption ruling in December 1980, 46 years ago. 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, San Jose Institute of Contemporary Art reported income of $1.0m and spending of $1.1m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.0m to $1.0m (+2.5%), an average of +0.6% a year. The sharpest change came in the year to June 2023, when income rose by 45%. Over the whole period it spent 107% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, San Jose Institute of Contemporary Art sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 81st percentile within CA. Charities of a similar size with the same main cause include Angels of Hope a Family Cancer Foundation ($1.0m), Religious Community Services of New Bern Inc ($1.0m) and Central Dupage Pastoral Counseling Center ($1.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 89% of the total. Compensation of current officers, directors and key employees was $186k (18% of expenses). Other salaries and wages came to $209k. At year end it held assets of $2.9m against liabilities of $348k, net assets of $2.5m. It reported 13 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.