Overview
What is The Institute Of Contemporary Art Inc?
The Institute of Contemporary Art Inc, based in Boston, Massachusetts, is a nonprofit organization dedicated to presenting contemporary art exhibitions and gallery presentations. They showcase a diverse range of art forms, including painting, drawing, sculpture, video, installation, and more. In fiscal year 2022, they welcomed over 225,000 visitors to their galleries. Their mission is to make contemporary art accessible to the public, offering inspiration, reflection, and provocation through various artist collaborations and exhibitions. They have a team of 239 employees and have organized numerous exhibitions, such as those featuring Eva Lewitt and Firelei Baez. The organization is committed to fostering artistic innovation and creativity while engaging the community.
Official website here: www.icaboston.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Star rating)
The Institute of Contemporary Art Inc has achieved a remarkable score of 97%, signifying a strong commitment to accountability and financial management. This high rating is primarily based on their accountability and finance metrics, reflecting their effectiveness in managing resources and ensuring transparency in operations.
One of the organization's notable strengths is its governance structure, with an independent board comprising 97% independent members. Additionally, the financial health of the organization is impressive, as indicated by an efficient program expense ratio of 81.33%, a low fundraising efficiency cost of just $0.08, and a robust working capital ratio that suggests long-term sustainability.
While the organization demonstrates exceptional performance across various metrics, it is crucial to acknowledge that the rating is largely focused on financial aspects. There may be other qualitative factors not covered in the score that could provide a more comprehensive view of the organization’s impact and community engagement.
This AI summary has been generated from information found on Charity Navigator.
Is The Institute Of Contemporary Art Inc legitimate?
The Institute Of Contemporary Art Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Institute Of Contemporary Art Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,209,890
Professional Fundraising Fees: $43,750
Other Salaries and Wages: $6,564,701
For more financial information, click here
Official website here: www.icaboston.org
What is the mission statement of The Institute Of Contemporary Art Inc?
The Institute of Contemporary Art (ICA) is dedicated to sharing the pleasures and thought-provoking qualities of contemporary art with the public. Through various exhibitions featuring painting, drawing, sculpture, video, and installation, ICA aims to inspire reflection, provoke imagination, and encourage creativity. In the past fiscal year, the institution attracted over 225,000 visitors, with notable exhibitions including those by Eva Lewitt and Firelei Baez. The ICA's mission is to create an engaging and dynamic experience through the presentation of diverse contemporary artworks. By providing access to artists and their creative process, the ICA fosters a deeper understanding and appreciation for contemporary art.
Official website here: www.icaboston.org
What is the revenue of The Institute Of Contemporary Art Inc?
The Institute Of Contemporary Art Inc's revenue in 2024 was $20,448,663.
Official website here: www.icaboston.org
Who are the executives of The Institute Of Contemporary Art Inc and what are their salaries?
The average compensation at The Institute Of Contemporary Art Inc during 2024 was $25,160. There are 309 employees and 151 volunteers at The Institute Of Contemporary Art Inc.
Here are 50 key members and their salaries:
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- Other: $16,875
Official website here: www.icaboston.org
Where can I find the form 990 for The Institute Of Contemporary Art Inc?
The Institute Of Contemporary Art Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.icaboston.org
Learn more at the official website: www.icaboston.org
Mission Statement of The Institute Of Contemporary Art Inc
The Institute of Contemporary Art (ICA) is a non-profit organization that is dedicated to sharing the pleasures and joys of contemporary art with the public. Through public access to art, artists, and the creative process, the ICA aims to inspire reflection, provocation, and imagination. The institution has presented fourteen contemporary art exhibitions featuring various mediums, including painting, drawing, sculpture, video, and installation. In the last fiscal year, these exhibitions attracted over 225,091 visitors.
The ICA is not just about exhibiting art but also about providing unique experiences for its visitors. For instance, Eva Lewitt's vibrant sculptures made from everyday commercial and industrial materials are presented in a way that creates a dynamic and uplifting experience within the museum's interior. Lewitt's large-scale abstract artworks often recall domestic or theatrical decor, inviting visitors to explore unresolved tensions between transparency and opacity, gravity and weightlessness, abstraction and decoration. These thought-provoking installations are designed to intensify the experience of space and engage visitors in a meaningful way.
Additionally, the ICA is committed to commissioning and displaying new works by acclaimed artists like Firelei Baez and Stephen Hamilton. These site-specific installations add depth and context to the museum's exhibitions, shedding light on historical traditions and contemporary issues. By integrating art and education, the ICA fosters a deeper appreciation for contemporary art and its role in shaping our cultural landscape.
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Impact
October, 2024
The Institute of Contemporary Art (ICA) plays a significant role in enriching the cultural landscape by providing public access to contemporary art and artists. Through its diverse exhibitions and programming, it fosters a platform for reflection, inspiration, and dialogue, allowing visitors to engage deeply with the creative process.
In the last fiscal year, ICA attracted over 225,000 visitors to its exhibitions, showcasing a multitude of mediums, including painting, drawing, sculpture, video, and installation art. Notable exhibitions, such as those by Eva LeWitt and Firelei Baez, not only highlight artistic talent but also invite audiences to explore complex themes related to identity, history, and cultural exchange.
Such installations create immersive experiences, merging art with dialogue around social and historical narratives, and enhancing community engagement. Programming specifically aimed at teens, like "ICA Teens x OJ Slaughter: 'Breaking Cycles,'" empowers young participants to express their identities creatively and respond to contemporary cultural discussions.
Moreover, the ICA’s commitment to innovation and accessibility further cements its influence, as it intersects the worlds of art, design, fashion, and music through interdisciplinary exhibitions like "Virgil Abloh: Figures of Speech." This multifaceted approach not only cultivates a broader appreciation for contemporary art but also positions the ICA as a vital center for cultural discourse and education in Boston and beyond.
This information is meant to be a general summary of The Institute Of Contemporary Art Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $1,377,682
- Program Service Revenue: $2,735,743
- Gross Receipts: $30,920,913
Assets and Liabilities:
- Total Assets: $113,826,722
- Total Liabilities: $3,564,619
- Net Assets: $110,262,103
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ADMISSIONS & PROGRAM
Revenue
$1,613,561
MEMBERSHIP DUES
Revenue
$674,146
EXHIBITIONS
Revenue
$432,036
TRIPS & TOURS
Revenue
$16,000
Organization Details
Founding Year
1936
Principal Officer
Jill Medvedow
Website
www.icaboston.orgNTEE Category
Code: A510 - Arts
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