Museum Of Contemporary Art
- Assets
- $231.7m
- Revenue
- $26.8m
- Investments
- $130.1m
- Employees
- 185
- Location
- Chicago, IL
- Founding
- 05/1966
- Data as of
- 06/2021
- EIN
- 36-6154098
Organization Overview
Museum Of Contemporary Art is located in Chicago, IL. The organization was established in 1966. 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, Museum Of Contemporary Art employed 185 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Museum Of 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 06/2021, Museum Of Contemporary Art generated $26.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $20.8m 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
ENHANCE APPRECIATION OF CONTEMPORARY ART THROUGH EDUCATION, PROGRAMMING AND EXHIBITIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXHIBITIONS: IN THE FY23 FISCAL YEAR, THE MUSEUM WELCOMED 232,206 VISITORS TO ITS EXHIBITIONS, PERFORMANCES, EVENTS, AND LEARNING PROGRAMS.MCA EXHIBITIONS SEEK TO INTRODUCE AUDIENCES TO THE MOST IMPORTANT ART AND ARTISTS OF OUR TIME, WITH AN EMPHASIS ON FEATURING LOCAL ARTISTS. EXHIBITIONS ARE DESIGNED TO EXCITE, CHALLENGE, AND ILLUMINATE OUR VISITORS AND TO PROVIDE THEM WITH INSIGHT INTO THE CREATIVE PROCESS. THE MCA PRESENTED EXHIBITIONS THAT FEATURED LOCAL ARTISTS, AMPLIFIED THE VOICES OF BIPOC AND WOMEN ARTISTS, AND EXPLORED THE ISSUES OF TODAY THROUGH ACCESSIBLE MEDIUMS. THESE EXHIBITIONS INCLUDED BASED ON A TRUE STORY (FEBRUARY 12, 2022 - AUGUST 14, 2022); ATRIUM PROJECT: FIRELEI BEZ (MARCH 26, 2022 - MARCH 26, 2023); NICK CAVE: FOROTHERMORE (MAY 14, 2022 - OCTOBER 02, 2022); INTRICATE: CALDER AND THE POETRY OF SCIENCE (MAY 14, 2022 - MARCH 05, 2023); CHICAGO WORKS: GREGORY BAE (JUNE 28, 2022 - MARCH 12, 2023); MARTINE SYMS: SHE MAD SEASON ONE (JULY 02, 2022 - FEBRUARY 12, 2023); INTERIORS (JULY 16, 2022 - APRIL 23, 2023); ENTER THE MIRROR (SEPTEMBER 10, 2022 - JULY 23, 2023); FORECAST FORM: ART IN THE CARIBBEAN DIASPORA, 1990STODAY (NOVEMBER 19, 2022 - APRIL 23, 2023); DUANE LINKLATER: MYMOTHERSSIDE (MARCH 11, 2023 - SEPTEMBER 03, 2023); MONA HATOUM: EARLY WORKS (MARCH 29, 2023 - OCTOBER 22, 2023); ATRIUM PROJECT: LOTUS L. KANG (APRIL 8, 2023 - FEBRUARY 11, 2024); ENDLESS (APRIL 14, 2023 - APRIL 14, 2024); AND GARY SIMMONS: PUBLIC ENEMY (JUNE 13, 2023 - OCTOBER 01, 2023).
PERFORMANCE: THE MCA PRESENTS CUTTING-EDGE DANCE, THEATER, AND MUSIC FROM CHICAGO AND AROUND THE WORLD. PERFORMANCES THIS YEAR INCLUDED ERIN KILMURRAY, THE FUNCTION (SEPTEMBER 15, 2022); BIMBOLA AKINBOLA, YOU GOTTA KNOW IT: A DURATIONAL MOVING MEDITATION ON (BLACK) COLLECTIVITY, LABOR, AND JOY (SEPTEMBER 16, 2022); DEREK LEE MCPHATTER, WATER RIOT IN BETA (SEPTEMBER 16, 2022); ISAIAH COLLIER, THE CELESTIALS PROJECT (OCTOBER 4, 2022); KEYIERRA COLLINS, HOW I FOUND MY FEET AGAIN, (FEBRUARY 21, 2023); DEVIN T. MAYS (OCTOBER 18, 2022); JENN FREEMAN AKA PO' CHOP, BAMALAMA LEGS (NOVEMBER 1, 2022); CAT MAHARI, BLK ARK: THE IMPOSSIBLE MANIFESTATION (DECEMBER 6, 2022); SHAMEL PITTS | TRIBE, TOUCH OF RED (APRIL 06 - 08, 2023); WILL RAWLS, [SICCER]* (APRIL 27 30, 2023); AND BARAK AD SOLEIL, SHIFT* (MAY 06, 2023).TUESDAYS ON THE TERRACE, THE MCA'S POPULAR SUMMER JAZZ CONCERT SERIES, TOOK PLACE EACH TUESDAY FROM JUNE TO AUGUST 2023 ON THE MUSEUM TERRACE, WITH ADDITIONAL SEATING IN THE SCULPTURE GARDEN. ALMOST 14,632 PEOPLE ATTENDED THESE PERFORMANCES, WHICH WERE FREE TO THE PUBLIC.
EDUCATION AND PUBLIC PROGRAMMING: THE MCA'S EDUCATION AND PUBLIC PROGRAMMING DEPARTMENTS PRODUCED MULTIPLE PROGRAMS THAT BENEFITED COMMUNITY MEMBERS OF ALL AGES AND BACKGROUNDS, FREQUENTLY WORKING TOGETHER WITH THE LEARNING DEPARTMENT TO CREATE A CONTINUUM OF LIFELONG LEARNING FOR CITIZENS OF CHICAGO. MOST OF THESE PROGRAMS WERE FREE TO THE PUBLIC, AND TOOK PLACE ACROSS MULTIPLE PLATFORMS INCLUDING IN PERSON, ZOOM, INSTAGRAM LIVE, AND FACEBOOK LIVE.LEARNING PROGRAMS THIS YEAR FOCUSED ON PROVIDING PROGRAMS TO SCHOOLS AND FAMILIES THAT COMPLEMENT STANDARD CURRICULUM AND CLASSROOM TOPICS AS WELL AS OPPORTUNITIES FOR ENRICHMENT AND CREATIVITY OUTSIDE OF SCHOOL. THIS YEAR 19,000 YOUNG PEOPLE VISITED THE MUSEUM. ARTS EDUCATION PROGRAMMING IN FISCAL YEAR 2023 INCLUDED:THE TEEN CREATIVE AGENCY (TCA): THE TCA IS THE MCA'S CULTURAL LEADERSHIP PROGRAM FOR CHICAGO-AREA TEENS (1419 YEARS OLD). MEMBERS MEET WEEKLY TO INCREASE THEIR AGENCY AND COLLABORATION SKILLS, BUILD COMMUNITY, AND DEVELOP CREATIVE PROJECTS AND PUBLIC EVENTS UNDER THE GUIDANCE OF TWO LEAD ARTISTS. WEEKLY SESSIONS INCLUDE TIME IN THE GALLERIES, VISITS TO OTHER CULTURAL SITES, MEETINGS WITH ARTISTS AND MUSEUM STAFF, AND TIME TO WORK ON COLLABORATIVE PROJECTS.FAMILY DAYS: PRESENTED ONCE A MONTH FROM OCTOBER - MAY, FAMILIES ARE OFFERED FREE ADMISSION TO TAKE PART IN WORKSHOPS AND PERFORMANCES THAT ARE ALL DESIGNED AND LED BY CHICAGO ARTISTS.TEACHER INSTITUTE: A FREE, YEAR-LONG PROFESSIONAL DEVELOPMENT PROGRAM FOCUSED ON SUPPORTING TEACHERS IN DEVELOPING STUDENT-CENTERED PROJECTS THAT GIVE STUDENTS AN ACTIVE ROLE IN THE DEVELOPMENT, IMPLEMENTATION, AND DOCUMENTATION PROCESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Madeleine Grynsztejn Pritzker Director | OfficerTrustee | 40 | $969,892 |
Cari B Sacks Board Chair And Trustee | OfficerTrustee | 10 | $0 |
Michael O'grady Vice Chair And Trustee | OfficerTrustee | 5 | $0 |
Anne L Kaplan Vice Chair And Trustee | OfficerTrustee | 5 | $0 |
Ellen-Blair Chube Vice Chair And Trustee | OfficerTrustee | 5 | $0 |
Nickol R Hackett Vice Chair And Trustee | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Securitas Security Usa Inc Security Services | 6/29/23 | $2,402,630 |
Us Art Company Inc Art Storage | 6/29/23 | $906,904 |
Abm Industry Groups Llc Hvac Contractor | 6/29/23 | $1,358,167 |
European Painting & Decorating Inc Contract Labor | 6/29/23 | $285,562 |
Frost Lighting Inc Audio Visual Services | 6/29/23 | $267,423 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,836,657 |
| Investment income | $495,784 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $76,687 |
| Net Gain/Loss on Asset Sales | $10,797,477 |
| Net Income from Fundraising Events | -$165,320 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$891,460 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,817,111 |
| 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. | $1,851,455 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,205,213 |
| Pension plan accruals and contributions | $223,163 |
| Other employee benefits | $625,260 |
| Payroll taxes | $601,601 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $72,778 |
| Fees for services: Accounting | $113,557 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $100,000 |
| Fees for services: Other | $2,017,750 |
| Advertising and promotion | $286,937 |
| Office expenses | $1,810,708 |
| Information technology | $722,938 |
| Royalties | $5,907 |
| Occupancy | $1,173,443 |
| Travel | $28,056 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $46,617 |
| Interest | $890,796 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,425,263 |
| Insurance | $260,935 |
| All other expenses | $0 |
| Total functional expenses | $20,848,982 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,606,920 |
| Savings and temporary cash investments | $13,236,724 |
| Pledges and grants receivable | $2,583,690 |
| Accounts receivable, net | $488,472 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $539,141 |
| Prepaid expenses and deferred charges | $892,855 |
| Investments—publicly traded securities | $27,066,826 |
| Investments—other securities | $130,083,412 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $231,693,659 |
| Accounts payable and accrued expenses | $2,638,223 |
| Grants payable | $0 |
| Deferred revenue | $2,514,714 |
| Tax-exempt bond liabilities | $29,900,107 |
| 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 | $2,549,193 |
| Total liabilities | $37,602,237 |
| 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 | $194,091,422 |