Society For Contemporary Art
- Assets
- $1.1m
- Revenue
- $532.3k
- Investments
- $0.0
- Employees
- 3
- Location
- Chicago, IL
- Founding
- 03/1941
- Data as of
- 07/2023
- EIN
- 36-6055526
Organization Overview
Society For Contemporary Art is located in Chicago, IL. The organization was established in 1941. As of 07/2023, Society For Contemporary Art employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Society For Contemporary Art 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 07/2023, Society For Contemporary Art generated $532.3k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $416.9k during the year ending 07/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE ART INSTITUTE OF CHICAGO BY ENGAGING THE COMMUNITY IN A DIALOGUE ABOUT THE ART OF OUR TIME AND ACQUIRING WORKS THAT ENRICH THE MUSEUMS COLLECTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LECTURES ON CONTEMPORARY ART, HELD 6-8 TIMES PER YEAR, WHICH ARE FREE TO MEMBERS AND THE GENERAL PUBLIC WITH ATTENDANCE RANGING FROM 75 TO 200 PERSONS. MEMBER PROGRAMS WHICH GENERALLY CONSIST OF COLLECTION, EXHIBITION AND GALLERY TOURS. SUPPORT CONTEMPORARY ART FOCUSED PROGRAMS AT THE ART INSTITUTE OF CHICAGO. CONTEMPORARY ART FOCUSED MEMBER TRAVEL.
PURCHASE AND SUBSEQUENT DONATION OF CONTEMPORARY ART TO THE ART INSTITUTE OF CHICAGO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Egeland Nominating/by-Laws/acquisitions | Trustee | 2 | $0 |
Jessica Diamond Programming | Trustee | 5 | $0 |
Fenton Booth Secretary | OfficerTrustee | 2 | $0 |
Linda Usher Treasurer/1st Vice President | OfficerTrustee | 5 | $0 |
Stephanie Skestos Gabriele Acquisiton | Trustee | 2 | $0 |
Jacolyn Bucksbaum Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $177,772 |
| Fundraising events | $172,488 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $75,691 |
| Noncash contributions included in lines 1a–1f | $55,360 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $425,951 |
| Total Program Service Revenue | $36,186 |
| Investment income | $4,736 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $60,546 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $532,326 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $131,883 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,140 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,086 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,573 |
| Office expenses | $13,703 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,919 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,047 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,760 |
| All other expenses | $11,882 |
| Total functional expenses | $416,930 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $401,552 |
| Savings and temporary cash investments | $359,068 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $374,760 |
| Total assets | $1,135,380 |
| Accounts payable and accrued expenses | $14,536 |
| Grants payable | $0 |
| Deferred revenue | $48,238 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $62,774 |
| Net assets without donor restrictions | $1,072,606 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,135,380 |