Contemporary Arts Center
- Assets
- $37.2m
- Revenue
- $4.4m
- Investments
- $19.8k
- Employees
- 68
- Location
- Cincinnati, OH
- Founding
- 07/1940
- Data as of
- 08/2022
- EIN
- 31-0590095
Organization Overview
Contemporary Arts Center is located in Cincinnati, OH. The organization was established in 1940. 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 08/2023, Contemporary Arts Center employed 68 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Contemporary Arts Center 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 08/2022, Contemporary Arts Center generated $4.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $4.9m during the year ending 08/2022. While expenses have increased by 0.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE CONTEMPORARY ARTS CENTER PROVIDES THE OPPORTUNITY FOR ALL PEOPLE TO DISCOVER THE DYNAMIC RELATIONSHIP BETWEEN ART AND LIFE BY EXHIBITING, BUT NOT COLLECTING, THE WORK OF PROGRESSIVE ARTISTS. IT WILL CONTINUALLY INCREASE ITS REGIONAL, NATIONAL, AND INTERNATIONAL INFLUENCE BY PROVIDING CHANGING VISUAL AND INTERACTIVE EXPERIENCES THAT CHALLENGE, ENTERTAIN AND EDUCATE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CONTEMPORARY ARTS CENTER (CAC) BRINGS THE BEST OF INTERNATIONAL, NATIONAL AND REGIONAL CONTEMPORARY ART TO MORE THAN 92,000 VISITORS ANNUALLY, CONNECTING VISITORS WITH A WIDE ARRAY OF EXCEPTIONAL ART BEING CREATED TODAY. IN ITS MYRIAD OF FORMS FROM VISUAL AND MEDIA ARTS TO PERFORMANCE AND BEYOND, THE CAC SERVES AS A COMMUNITY VENUE FOR CREATIVE EXPRESSIVE AND EXPLORATION AND DISCUSSING ISSUES OF OUR TIME AS THEY ARE RAISED IN PRESENTED WORKS. THE GALLERY ALSO FEATURES COMMISSIONED WORKS BY LOCAL ARTISTS.
STUDENT AND PUBLIC PROGRAMS FOR YOUTH, FAMILY, EDUCATORS AND ADULTS ARE DESIGNED WITH THE GOAL THAT THEY SERVE AS BRIDGES TO THE ART, PROVIDING OPPORTUNITIES FOR VISITORS TO ENGAGE WITH WORKS, ARTISTS, STAFF, VOLUNTEERS AND ONE ANOTHER IN THE EXPLORATION OF ART AND CREATIVE ACTIVITIES, REGARDLESS OF THEIR PREVIOUS KNOWLEDGE OF OR EXPERIENCE WITH CONTEMPORARY ART. CAC PROGRAMS INCLUDE ARTISTS TALKS, LECTURE SERIES, CURATORIAL TALKS AND TOURS, FILMS, DOCENT-LED TOURS, FAMILY SATURDAYS AND THURSDAY ART PLAY, CONCERTS, PERFORMANCES AND TEACHER RESOURCES. TOGETHER, CAC EXHIBITIONS AND EDUCATION PROGRAMS ARE ACCESSIBLE FOR VISITORS OF ALL AGES AND ABILITIES, OPENING THE WORLD OF CONTEMPORARY ART, INSPIRING CREATIVITY AND ENCOURAGING CRITICAL THINKING. MOST EDUCATIONAL PROGRAMS ARE OFFERED AT NO COST. FREE ADMISSION AND EVENING HOURS ARE OFFERED ON WEDNESDAY TO FRIDAY FROM 5PM TO 9PM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Emily Kokenge Board Member | Trustee | 1 | $0 |
Maria Espinola PHD Board Member | Trustee | 1 | $0 |
Lucinda Barnes Board Member | Trustee | 1 | $0 |
Jennifer Verkamp Board Member | Trustee | 1 | $0 |
Michael Kelly - Start 0323 Board Member | Trustee | 1 | $0 |
Emily Hanako Momohara Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Coolco Llc Utilities | 8/30/23 | $117,038 |
Uhs Premium Billing Employee Benefits | 8/30/23 | $110,855 |
Donorreach Llc Development Service | 8/30/23 | $102,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $487,522 |
| Membership dues | $103,180 |
| Fundraising events | $167,985 |
| Related organizations | $0 |
| Government grants | $180,062 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,346,071 |
| Noncash contributions included in lines 1a–1f | $72,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,284,820 |
| Total Program Service Revenue | $186,523 |
| Investment income | $303,060 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $29 |
| Net Gain/Loss on Asset Sales | $731,725 |
| Net Income from Fundraising Events | -$75,019 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $15,017 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,449,118 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $127,807 |
| Compensation of current officers, directors, key employees. | $19,320 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,328,809 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $118,427 |
| Payroll taxes | $109,747 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $83,222 |
| Fees for services: Other | $917,015 |
| Advertising and promotion | $22,889 |
| Office expenses | $123,770 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $269,462 |
| Travel | $37,402 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $259,769 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $830,404 |
| Insurance | $43,346 |
| All other expenses | $60,923 |
| Total functional expenses | $4,928,833 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $389,207 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $927,862 |
| Accounts receivable, net | $5,657 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $137,395 |
| Prepaid expenses and deferred charges | $1,080 |
| Net Land, buildings, and equipment | $14,062,340 |
| Investments—publicly traded securities | $17,530,227 |
| Investments—other securities | $19,846 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,176,094 |
| Total assets | $37,249,708 |
| Accounts payable and accrued expenses | $391,721 |
| Grants payable | $0 |
| Deferred revenue | $13,666 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $11,588,750 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $11,994,137 |
| Net assets without donor restrictions | $13,408,185 |
| Net assets with donor restrictions | $11,847,386 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $37,249,708 |