Institute Of Contemporary Art
- Assets
- $121.3m
- Revenue
- $26.4m
- Investments
- $388.0k
- Employees
- 290
- Location
- Boston, MA
- Founding
- 07/1959
- Data as of
- 06/2021
- EIN
- 04-2104327
Organization Overview
Institute Of Contemporary Art, operating under the name Icaboston, is located in Boston, MA. The organization was established in 1959. According to its NTEE Classification (A51) the organization is classified as: Art Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2023, Icaboston employed 290 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Icaboston is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Icaboston generated $26.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 10.0% each year. All expenses for the organization totaled $14.6m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O FOR DESCRIPTION.THE MISSION OF THE INSTITUTE OF CONTEMPORARY ART ("ICA") IS TO SHARE THE PLEASURES OF REFLECTION, INSPIRATION, PROVOCATION, AND IMAGINATION THAT CONTEMPORARY ART OFFERS THROUGH PUBLIC ACCESS TO ART, ARTISTS, AND THE CREATIVE PROCESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ART EXHIBITIONS: GALLERY PRESENTATIONS: THE ICA PRESENTED 9 CONTEMPORARY ART EXHIBITIONS FEATURING PAINTING, DRAWING, SCULPTURE, VIDEO, INSTALLATION, AND MORE. FY23 GALLERY EXHIBITS ATTENDANCE TOTALED 220,301 VISITORS, WATERSHED ATTENDANCE NUMBERED 34,590, AND IN-PERSON PROGRAMMING ATTENDANCE NUMBERED 57,483.(SEE CONTINUATION ON SCHEDULE O)
EDUCATION, ADULTS, TEENS:THE ICA OFFERS A ROBUST RANGE OF EDUCATIONAL PROGRAMS BUILT AROUND THEMES IN CONTEMPORARY ART AND CULTURE. GEARED TOWARD ADULT, TEEN, AND FAMILY AUDIENCES, THESE INCLUDE PUBLIC PROGRAMS, DIGITAL RESOURCES, AND MORE. WE EXTEND OUR GRATITUDE TO THE MANY INDIVIDUALS AND ORGANIZATIONS WHO CONTRIBUTE TO THE SUCCESS OF THESE INITIATIVES, INCLUDING TEACHING ARTISTS, COMMUNITY PARTNERS, SCHOOLS, AND THE ARTISTS THEMSELVES. (SEE CONTINUATION ON SCHEDULE O)
PERFORMING AND MEDIA ARTS:THE ICA PRESENTS SOME OF THE MOST INNOVATIVE AND FORWARD-LOOKING CHOREOGRAPHERS, MUSICIANS, FILMMAKERS, THEATER COMPANIES AND MULTI-DISCIPLINARY ARTISTS FROM BOSTON AND THE REST OF THE WORLD. IN FY23 WE OFFERED 38 PROGRAMS (PERFORMING ARTS AND FILM). ATTENDANCE TOTALED APPROXIMATELY 21,661.WE ORGANIZED 46 PERFORMANCES BY THE FOLLOWING PERFORMERS, ARTISTS AND ENSEMBLE COMPANIES. ATTENDANCE OF THESE PERFORMANCES TOTALED 18,919. (SEE CONTINUATION ON SCHEDULE O)DANCE/THEATER* SUMMER STAGES DANCE @ ICA: LIZ GERRING DANCE COMPANY SNEAK PREVIEW* PRAYERS, PROVERBS, AND POEMS: LESSONS FOR THE LIVING* LIZ GERRING DANCE COMPANY WITH THE JACK QUARTET: HARBOR* SUMMER STAGES DANCE @ ICA: OKWUI OKPOKWASILI AND PETER BORN: A SNEAK PREVIEW* BILL T. JONES/ARNIE ZANE COMPANY: CURRICULUM II* OKWUI OKPOKWASILI: ADAKU, PART 1: THE ROAD OPENS* SUZANNE BOCANEGRA: HONOR - GLOBAL ARTS LIVE PRESENTS - FOUAD BOUSSOUF - BOSTON DANCE THEATER - GIBNEY COMPANY - DORRANCE DANCEIN-GALLERY PERFORMANCE* PRAYERS, PROVERBS, AND POEMS: LESSONS FOR THE LIVINGMUSIC* HARBORWALK SOUNDS: - KIRSTEN ALICIA + FRIENDS - NEW LEGAXY - BANDA LATINO-GANG - THE THISTLE BROTHERS - AIIDA - YAGMUR SOYDEMIR + FRIENDS - THE TIGER WIZARD - CHARLEY TIERNAN* ICA SUMMER SESSIONS: - NAOMI WESTWATER - HEESU - CD ROSE - LILAH! - ED BALLOON - SENSELESS OPTIMISM - COLLEEN GREEN* BLACK JOY DAY* WE CREATE THE WORLD: A JUNETEENTH CELEBRATION* L'RAIN* JAZZ URBANE CAFE AT ICA/BOSTON: SPIRIT AND ARTISTIC FIRE* JASON MORAN AND ALICIA HALL MORAN: FAMILY BALL* HYENA* WOMEN OF JAZZ: JAZZ URBANE CAFE AT ICA/BOSTONIN FY23 WE PRESENTED 18 SCREENINGS OF THE FOLLOWING FILMS. ATTENDANCE AT THESE SCREENINGS TOTALED 2,942.FILM* SUNDANCE FILM FESTIVAL SHORTS* ALL THE BEAUTY AND THE BLOODSHED* 2023 OSCAR-NOMINATED SHORT FILMS* WICKED QUEER FILM SCREENING: BIG BOYS* IN THEIR OWN WORDS: A SHORT FILM PROGRAM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jill Medvedow Director/ex-Officio | OfficerTrustee | 37.5 | $523,840 |
Camilo Alvarez Ex-Officio, Advisory Board Chair | Trustee | 1 | $0 |
Charles Brizius Trustee | Trustee | 1 | $0 |
Katrine Bosley Trustee | Trustee | 1 | $0 |
Dr Paul Buttenwieser Trustee | Trustee | 1 | $0 |
Karen Swett Conway Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cobar Spa Exhibition Design & Construction Service | 6/29/23 | $964,363 |
A Consulting Consulting Services | 6/29/23 | $497,332 |
Allied Universal Security Services | 6/29/23 | $452,180 |
American Cleaning Cleaning Services | 6/29/23 | $411,980 |
Masterpiece International Shipping Services | 6/29/23 | $400,043 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,194,343 |
| Investment income | $173,554 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$127,673 |
| Net Gain/Loss on Asset Sales | $6,586,305 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $452,806 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,427,567 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $944,456 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,433,528 |
| Pension plan accruals and contributions | $242,679 |
| Other employee benefits | $510,490 |
| Payroll taxes | $466,148 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $38,703 |
| Fees for services: Accounting | $92,396 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $20,700 |
| Fees for services: Investment Management | $135,362 |
| Fees for services: Other | $785,245 |
| Advertising and promotion | $224,392 |
| Office expenses | $57,276 |
| Information technology | $234,505 |
| Royalties | $0 |
| Occupancy | $317,835 |
| Travel | $16,453 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $297 |
| Interest | $111,919 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,440,406 |
| Insurance | $121,358 |
| All other expenses | $0 |
| Total functional expenses | $14,575,137 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,494,668 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $10,289,470 |
| Accounts receivable, net | $212,138 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $549,672 |
| Prepaid expenses and deferred charges | $745,476 |
| Investments—publicly traded securities | $51,891,968 |
| Investments—other securities | $387,984 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $121,321,339 |
| Accounts payable and accrued expenses | $1,469,216 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $1,809,080 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $700,000 |
| Total liabilities | $3,978,296 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $117,343,043 |