Museum of Contemporary Art

Analysis

Museum of Contemporary Art is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in March 1980, 46 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, Museum of Contemporary Art reported income of $17.0m and spending of $24.3m, spending 143% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $25.9m to $17.0m (-34%), an average of -10% a year. The sharpest change came in the year to June 2022, when income rose by 90%. Over the whole period it spent 91% 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 sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within CA. Charities of a similar size with the same main cause include Bruce Museum Inc ($16.9m), Hillwood Estate Museum & Gardens ($17.0m) and Oregon Symphony Association ($16.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 76% and program service revenue 0.5% of the total. Compensation of current officers, directors and key employees was $1.8m (7.6% of expenses). Other salaries and wages came to $7.3m. At year end it held assets of $203.6m against liabilities of $2.3m, net assets of $201.3m. It reported 252 employees.