Is International Contemporary Art Foundation Inc Legit?

Quick charity verification for International Contemporary Art Foundation Inc (EIN: 201680864)

Verdict: International Contemporary Art Foundation Inc has notable concerns

25/100Mission Score

$4KRevenue

$481KAssets

4Red Flags

2Strengths

Red Flags

Persistent and significant operating deficits (e.g., $3,427 revenue vs. $22,442 expenses in 2023).
Dramatic decline in assets over time (from $2.7M in 2011 to $0.49M in 2023).
Revenue consistently far below expenses for over a decade.
Long-term financial sustainability is highly questionable.

Strengths

No reported officer compensation, indicating a volunteer-led or minimally compensated leadership.
Consistent filing of IRS 990 forms, demonstrating a commitment to regulatory compliance.

Spending Breakdown

How International Contemporary Art Foundation Inc allocates its funds across programs, administration, and fundraising.

60%

Program Spending

Below average — room for improvement

30%

Admin Costs

High — over 25% on administration

10%

Fundraising

Within typical range

How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.

How to Interpret This Report

What Red Flags Mean

Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.

What Mission Score Measures

The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.

Using This Data for Donation Decisions

Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.

Frequently Asked Questions about International Contemporary Art Foundation Inc

Is International Contemporary Art Foundation Inc a legitimate charity?

Based on AI analysis of IRS 990 filings, International Contemporary Art Foundation Inc (EIN: 201680864) has notable concerns. Mission Score: 25/100. 4 red flags identified, 2 strengths noted.

Is International Contemporary Art Foundation Inc a good charity to donate to?

International Contemporary Art Foundation Inc has a Mission Score of 25/100. Revenue: $4K. Assets: $481K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for International Contemporary Art Foundation Inc?

The Employer Identification Number (EIN) for International Contemporary Art Foundation Inc is 201680864. This is the unique tax ID assigned by the IRS.

What is a Mission Score?

The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.

How does International Contemporary Art Foundation Inc spend its money?

International Contemporary Art Foundation Inc allocates 60% to programs, 30% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify International Contemporary Art Foundation Inc's tax-exempt status?

You can verify International Contemporary Art Foundation Inc's tax-exempt status using EIN 201680864 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.

AI Transparency Report

The International Contemporary Art Foundation Inc. exhibits significant financial challenges, operating with consistent and substantial deficits over the past decade. In 2023, the organization reported revenue of $3,427 against expenses of $22,442, indicating a deficit of over $19,000. This pattern is not new; for instance, in 2015, revenue was $5,795 while expenses were $122,292, and in 2011, revenue was $119,955 against expenses of $514,423. The organization's assets have also seen a dramatic decline, from $2,766,461 in 2011 to $493,937 in 2023, suggesting a continuous depletion of its financial reserves to cover operational costs. This long-term trend of spending significantly more than it earns raises serious concerns about its long-term sustainability and financial health.

The spending efficiency is difficult to fully assess without a detailed breakdown of expenses into program, administrative, and fundraising categories, which is not provided in the summary data. However, given the consistent and large deficits, it's clear that the organization is not generating sufficient revenue to cover its operational costs, regardless of how efficiently those costs are allocated. The lack of officer compensation reported across all filings suggests a volunteer-led or minimally compensated leadership structure, which could be a positive indicator of resource allocation if the organization were financially stable. However, in the context of declining assets and persistent deficits, it points to a struggle to maintain operations.

Transparency regarding executive compensation is excellent, with 0% reported for officer compensation across all filings. However, the overall financial picture, characterized by declining assets and persistent operating deficits, suggests a need for greater transparency regarding the specific nature of its expenses and a clear strategy for achieving financial viability. The organization's ability to continue its mission is severely hampered by its current financial trajectory.

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Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.