Fellows Of Contemporary Art
- Assets
- $562.5k
- Revenue
- $780.8k
- Investments
- $0.0
- Employees
- 4
- Location
- Los Angeles, CA
- Founding
- 06/1976
- Data as of
- 12/2022
- EIN
- 95-2977109
Organization Overview
Fellows Of Contemporary Art is located in Los Angeles, CA. The organization was established in 1976. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Fellows Of Contemporary Art employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fellows 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 12/2022, Fellows Of Contemporary Art generated $780.8k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $734.2k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.8%) per year over the past 8 years. 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
FUNDING AND PROMOTING CONTEMPORARY ARTISTS, EXHIBITIONS, AND PUBLICATIONS BY EMERGING AND MID-CAREER CALIFORNIA ARTISTS, AS WELL AS ORGANIZING LOCAL, NATIONAL AND INTERNATIONAL TOURS OF COLLECTIONS AND EXHITBITIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXHIBITIONS - OUR GOAL IS TO SUPPORT AND FOSTER INTEREST IN CONTEMPORARY ART. WE HAVE THREE ONGOING PROGRAMS TO ACHIEVE THIS: UNDERWRITING EXHIBITIONS AT NATIONAL INSTITUTIONS, PROVIDING DIRECT SUPPORT TO ARTISTS IN THE FORM OF UNRESTRICTED GRANTS AND BY INVITING YOUNG CURATORS TO USE OUR OFFICE SPACE IN CHINATOWN TO PUBLICLY PRESENT THEIR IDEAS IN A SETTING THAT ENCOURAGES EXPLORATION AND DIALOGUE. TO ENSURE A LASTING RECORD OF EACH ARTISTS AND CURATORS WORK AT A CRITICAL POINT IN THEIR CAREER, THE FELLOWS OF CONTEMPORARY ART PUBLISHES A SCHOLARLY CATALOG OR PAMPHLET TO ACCOMPANY EACH EXHIBITION AND GRANT. SINCE OUR INCORPORATION IN 1975, FOCA HAS SPONSORED MORE THAN FORTY EXHIBITS AT VENUES NATIONWIDE, INCLUDING IN THE CHINATOWN DISTRICT OF LOS ANGELES.
EDUCATIONAL PROGRAMS - IN ADDITION TO OUR EXHIBITIONS, WE PROVIDE OUR MEMBERS WITH EXTENSIVE INFORMATIVE ACTIVITIES THROUGH VISITS TO ARTISTS' STUDIOS, PRIVATE AND PUBLIC COLLECTIONS, LECTURES AND PANEL DISCUSSIONS. WE KEEP IN TOUCH WITH CURRENT DEVELOPMENTS IN THE FIELD OF CONTEMPORARY ART. COMPLEMENTING THESE PROGRAMS, FELLOWS OF CONTEMPRARYART (FOCA) ALSO ORGANIZES NATIONAL AND INTERNATIONAL TOURS OF ART COMMUNITIES AND SIGNIFICANT EXHIBITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Noriko Fujinami Chair | OfficerTrustee | 25 | $0 |
Robert Edelstein Vice Chair | OfficerTrustee | 5 | $0 |
Christine From Treasurer | OfficerTrustee | 10 | $0 |
Ann Myers Secretary, Assistant Treasurer | OfficerTrustee | 4 | $0 |
Paul Wieselmann Curator's Award Chair | Trustee | 5 | $0 |
Lucy Sun Curator's Award Co-Chair | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $135,625 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $123,367 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $258,992 |
| Total Program Service Revenue | $521,169 |
| Investment income | $605 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $780,766 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $60,000 |
| Grants and other assistance to domestic individuals. | $12,000 |
| 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 | $33,256 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,419 |
| 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 | $0 |
| Fees for services: Other | $2,337 |
| Advertising and promotion | $0 |
| Office expenses | $2,527 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $25,985 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,919 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $28,850 |
| Insurance | $3,780 |
| All other expenses | $15,455 |
| Total functional expenses | $734,157 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $220,951 |
| Savings and temporary cash investments | $340,678 |
| 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 | $862 |
| Total assets | $562,491 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $981 |
| Total liabilities | $981 |
| Net assets without donor restrictions | $550,760 |
| Net assets with donor restrictions | $10,750 |
| 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 | $562,491 |
Grants Awarded
Over the last fiscal year, Fellows Of Contemporary Art has awarded $60,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SAN JOSE MUSEUM OF ART PURPOSE: $50,000 WAS AWARDED TO SAN JOSE MUSEUM OF ART TO ORGANIZE A 10-YEAR SURVEY OF ARTIST KELLY AKASHI. | $50,000 |
INSTITUTE OF CONTEMPORARY ART LOS ANGELES PURPOSE: $75,000 WAS AWARDED TO INSTITUTE OF CONTEMPORARY ART LOS ANGELES FOR A GROUP ART EXHIBITION THAT WILL OPEN IN 2024. $10,000 WAS FUNDED IN 2022; ($25,000 IN 2023, AND $40,000 WILL BE PAID IN 2024.) | $10,000 |