Overview
What is Foundation For Contemporary Arts Inc?
The Foundation for Contemporary Arts Inc, situated in New York City, New York, is a distinguished nonprofit organization dedicated to fostering innovation in the arts. Their primary mission is to encourage, sponsor, and promote groundbreaking work in various artistic disciplines, catering to individuals, groups, and organizations. The organization achieves this by providing annual cash awards to selected artists through a confidential peer nomination process, extensive research, and a committee comprising board members and guest experts. In 2022, 21 artists were awarded grants, with nine of these honors named in tribute to accomplished artists in the field. The Foundation for Contemporary Arts Inc boasts a dedicated workforce of 12 individuals, furthering its commitment to the artistic community.
Official website here: www.foundationforcontemporaryarts.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Stars) from Charity Navigator.
The Foundation For Contemporary Arts Inc has achieved an impressive four-star rating from Charity Navigator, indicating a high level of accountability and financial health. The organization scored 97% in the Accountability & Finance category, reflecting its commitment to transparency and good governance, underscored by having all board members listed as independent and an exemplary financial oversight structure.
Notably, their financial metrics show strong performance, with a program expense ratio of 84.67%, which indicates that the majority of their expenditures directly support their mission. Furthermore, their fundraising efficiency is remarkable, with only 4 cents spent on fundraising for every dollar raised, showcasing effective use of resources.
While the organization displays significant strengths in financial management and governance policies, it is important for potential supporters to remain informed about its ongoing initiatives and impacts within the contemporary arts sector. Overall, the Foundation For Contemporary Arts stands as a highly rated nonprofit with robust operational practices.
This AI summary has been generated from information found on Charity Navigator.
Is Foundation For Contemporary Arts Inc legitimate?
Foundation For Contemporary Arts Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Foundation For Contemporary Arts 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: $250,343
Professional Fundraising Fees: $15,500
Other Salaries and Wages: $544,877
For more financial information, click here
Official website here: www.foundationforcontemporaryarts.org
What is the mission statement of Foundation For Contemporary Arts Inc?
The Foundation For Contemporary Arts Inc's mission is centered around encouraging, sponsoring, and promoting innovative work in the arts. They achieve this by providing financial support to individuals, groups, and organizations engaged in artistic endeavors. The selection process for recipients is confidential and involves peer nominations, staff research, and committee evaluation. In 2022, 21 grants were awarded to individual artists, with nine of these honors named after renowned artists. The Cage and Cunningham Awards, given in alternating years, are two notable distinctions within this program.
Official website here: www.foundationforcontemporaryarts.org
Who is the CEO of Foundation For Contemporary Arts Inc?
Kay Takeda is the Co-Chair of Foundation For Contemporary Arts Inc.
Official website here: www.foundationforcontemporaryarts.org
What is the revenue of Foundation For Contemporary Arts Inc?
Foundation For Contemporary Arts Inc's revenue in 2022 was $8,053,660.
Official website here: www.foundationforcontemporaryarts.org
Who are the executives of Foundation For Contemporary Arts Inc and what are their salaries?
The average compensation at Foundation For Contemporary Arts Inc during 2022 was $66,268. There are 12 employees and 17 volunteers at Foundation For Contemporary Arts Inc.
Here are 15 key members and their salaries:
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- Compensation: $101,782
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- Other: $6,050
Official website here: www.foundationforcontemporaryarts.org
Where can I find the form 990 for Foundation For Contemporary Arts Inc?
Foundation For Contemporary Arts Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.foundationforcontemporaryarts.org
Learn more at the official website: www.foundationforcontemporaryarts.org
Mission Statement of Foundation For Contemporary Arts Inc
The Foundation for Contemporary Arts Inc is dedicated to encouraging, sponsoring, and promoting innovative work in the arts. This nonprofit organization's mission involves providing support to individuals, groups, and organizations engaged in creative artistic endeavors. They achieve this by awarding cash grants to selected artists annually, following a confidential peer nomination process, staff research, and a committee selection consisting of the organization's board and guest experts. In 2022, the Foundation for Contemporary Arts Inc made 21 grants to individual artists, with nine of these awards being named in honor of renowned artists. Notably, the John Cage and Merce Cunningham awards are presented alternately, with the Cunningham Award being awarded in 2022.
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Impact
July, 2024
Foundation For Contemporary Arts Inc's impact lies in its direct support of artists by providing substantial cash awards to enable them to pursue their creative endeavors. Through a rigorous selection process involving peer nominations, staff research, and expert committee decisions, the organization awarded 21 grants to individual artists in 2022. Recognizing the legacy of influential artists such as John Cage, Merce Cunningham, and others, these grants not only provide financial assistance but also serve as a nod to artistic excellence and innovation. By fostering and celebrating artistic innovation, Foundation For Contemporary Arts Inc plays a crucial role in nurturing creativity and pushing boundaries in the arts.
This information is meant to be a general summary of Foundation For Contemporary Arts 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 2022.
- Investment Income: $661,807
- Gross Receipts: $8,163,973
Assets and Liabilities:
- Total Assets: $41,728,764
- Total Liabilities: $1,036,119
- Net Assets: $40,692,645
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Organization Details
Founding Year
1963
Phone
(212) 807-7077Principal Officer
Kay Takeda
Main Address
820 GREENWICH STREET 4TH FLOOR, NEW YORK, NY, 10014
NTEE Category
Code: A60J - Arts
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