Ica La
- Assets
- $8.8m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 25
- Location
- Los Angeles, CA
- Founding
- 12/1985
- Data as of
- 06/2022
- EIN
- 95-3992968
Organization Overview
Ica La, operating under the name Institute Of Contemporary Art La, is located in Los Angeles, CA. The organization was established in 1985. 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 06/2022, Institute Of Contemporary Art LA employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Institute Of Contemporary Art LA 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 06/2022, Institute Of Contemporary Art LA generated $3.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $2.6m during the year ending 06/2022. 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
THROUGH ITS EXHIBITIONS AND OUTREACH PROGRAMS, THE INSTITUTE OF CONTEMPORARY ART, LOS ANGELES FOSTERS DIVERSITY, INNOVATION, AND DISCOVERY IN CONTEMPORARY ART - LOCAL, NATIONAL, AND INTERNATIONAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INSTITUTE OF CONTEMPORARY ART, LOS ANGELES (ICA LA)-A CALIFORNIA NOT-FOR-PROFIT CORPORATION-IS A NON-COLLECTING ART MUSEUM. FOUNDED IN 1984 AS THE SANTA MONICA MUSEUM OF ART (SMMOA) AND REESTABLISHED IN 2017 WITH A NEW IDENTITY AND HOME IN DOWNTOWN LOS ANGELES, ICA LA BUILDS UPON A DISTINGUISHED HISTORY OF BOLD CURATORIAL VISION AND INNOVATIVE PROGRAMMING TO ILLUMINATE THE IMPORTANT UNTOLD STORIES AND EMERGING VOICES IN CONTEMPORARY ART AND CULTURE. THE MUSEUM'S 12,700 SQUARE-FOOT RENOVATED INDUSTRIAL BUILDING-DESIGNED BY WHY ARCHITECTURE UNDER THE LEADERSHIP OF KULAPAT YANTRASAST-FEATURES AMPLE SPACE FOR EXHIBITIONS, PUBLIC PROGRAMS, RETAIL POP-UPS, INTEGRATED OFFICES, AND SPECIAL PROJECTS.ICA LA'S MISSION IS TO SUPPORT ART THAT SPARKS THE PLEASURE OF DISCOVERY AND CHALLENGES THE WAY WE SEE AND EXPERIENCE THE WORLD, OURSELVES, AND EACH OTHER. ICA LA IS COMMITTED TO UPENDING HIERARCHIES OF RACE, CLASS, GENDER, AND CULTURE. THROUGH EXHIBITIONS, EDUCATION PROGRAMS, AND COMMUNITY PARTNERSHIPS, ICA LA FOSTERS CRITIQUE OF THE FAMILIAR AND EMPATHY WITH THE DIFFERENT.PURSUANT TO ITS COMMITMENT TO MAKING CONTEMPORARY ART RELEVANT AND ACCESSIBLE FOR ALL, ADMISSION IS FREE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laura Donnelley President | OfficerTrustee | 3 | $0 |
Randi Malkin Steinberger Vice President | OfficerTrustee | 3 | $0 |
Vera Campbell Treasurer | OfficerTrustee | 3 | $0 |
Miriam Rothbart Secretary | OfficerTrustee | 3 | $0 |
Geoffrey Anenberg Director | Trustee | 1 | $0 |
Charles Gaines Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $299,438 |
| Related organizations | $0 |
| Government grants | $215,230 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,330,138 |
| Noncash contributions included in lines 1a–1f | $165,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,844,806 |
| Total Program Service Revenue | $0 |
| Investment income | $1,071 |
| 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 | $20,619 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,866,496 |
| 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. | $217,573 |
| Compensation of current officers, directors, key employees. | $32,636 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $634,207 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $59,706 |
| Payroll taxes | $67,580 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $95,094 |
| Fees for services: Accounting | $80,456 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $50,400 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $391,540 |
| Advertising and promotion | $29,781 |
| Office expenses | $98,642 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $92,372 |
| Travel | $56,352 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $185,613 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $116,177 |
| Insurance | $43,294 |
| All other expenses | $60,076 |
| Total functional expenses | $2,562,653 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $755,029 |
| Savings and temporary cash investments | $363,237 |
| Pledges and grants receivable | $1,146,560 |
| 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 | $6,383,587 |
| Investments—publicly traded securities | $178,335 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,100 |
| Total assets | $8,831,848 |
| Accounts payable and accrued expenses | $243,968 |
| 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 | $4,900,000 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $146,054 |
| Other liabilities | $0 |
| Total liabilities | $5,290,022 |
| Net assets without donor restrictions | $2,289,146 |
| Net assets with donor restrictions | $1,252,680 |
| 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 | $8,831,848 |