Foundation For Contemporary Arts Inc
Foundation For Contemporary Arts Inc consistently generates significant surpluses and grows assets with no reported officer compensation.
EIN: 131978163 · New York, NY · NTEE: A60J · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $11.0M |
| Total Expenses | $3.3M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $50 |
| Net Assets | $49.3M |
| Transparency Score | 92/100 |
Is Foundation For Contemporary Arts Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Foundation For Contemporary Arts Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Foundation For Contemporary Arts Inc
Foundation For Contemporary Arts Inc (EIN: 131978163) is a nonprofit organization based in New York, NY, classified under NTEE code A60J. The organization reported total revenue of $11.0M and total assets of $55.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Foundation For Contemporary Arts Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Foundation For Contemporary Arts Inc is a large nonprofit that has been operating for 27 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 5.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $6.4M |
| Total Expenses | $3.3M |
| Surplus / Deficit | +$3.2M |
| Total Assets | $50.3M |
| Total Liabilities | $1.1M |
| Net Assets | $49.3M |
| Operating Margin | 49.3% |
| Debt-to-Asset Ratio | 2.1% |
| Months of Reserves | 185.1 months |
Financial Health Grade: A
In 2023, Foundation For Contemporary Arts Inc reported a surplus of $3.2M with revenue exceeding expenses, holds 185.1 months of operating reserves (strong position), has a debt-to-asset ratio of 2.1% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Foundation For Contemporary Arts Inc's revenue has grown at a compound annual growth rate (CAGR) of 5.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -20.1% | +16.9% | +20.7% |
| 2022 | +6.2% | -48.3% | -5.2% |
| 2021 | +40.4% | +11.5% | +6.5% |
| 2020 | +48.9% | +129.3% | +15.8% |
| 2019 | +6.9% | +11.8% | +16.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1999 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Foundation For Contemporary Arts Inc with a Mission Score of 92 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Foundation For Contemporary Arts Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $3.2M, with revenue exceeding expenses.
- Debt-to-asset ratio: 2.1%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization of its size with assets exceeding $50 million. This suggests either a fully volunteer-led executive team or that executive compensation is categorized differently within the financial statements, warranting further investigation for complete understanding.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Foundation For Contemporary Arts Inc's IRS 990 filings:
- Unusually low or zero reported officer compensation for an organization of this size, which may obscure actual executive remuneration practices.
Strengths
The following positive indicators were identified for Foundation For Contemporary Arts Inc:
- Consistent generation of significant financial surpluses, indicating strong financial management (e.g., 2023 revenue of $6,433,716 vs. expenses of $3,263,683).
- Steady growth in assets over time, from $35,701,394 in 2019 to $50,346,689 in 2023, enhancing long-term stability.
- Excellent spending efficiency, with expenses consistently well below revenue across all reported periods.
- Robust filing history with 13 IRS 990 filings, demonstrating commitment to regulatory compliance and transparency.
Frequently Asked Questions about Foundation For Contemporary Arts Inc
Is Foundation For Contemporary Arts Inc a legitimate charity?
Foundation For Contemporary Arts Inc (EIN: 131978163) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 92/100. It has 13 years of IRS 990 filings on record. Total revenue: $11.0M. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does Foundation For Contemporary Arts Inc spend its money?
Foundation For Contemporary Arts Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Foundation For Contemporary Arts Inc tax-deductible?
Foundation For Contemporary Arts Inc is registered as a tax-exempt nonprofit (EIN: 131978163). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Foundation For Contemporary Arts Inc CEO make?
Foundation For Contemporary Arts Inc's highest-compensated officer earns $50 annually. The organization reported $11.0M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Foundation For Contemporary Arts Inc's spending goes to programs?
Foundation For Contemporary Arts Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Foundation For Contemporary Arts Inc compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Foundation For Contemporary Arts Inc is above average for NTEE category A60J nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Foundation For Contemporary Arts Inc located?
Foundation For Contemporary Arts Inc is headquartered in New York, New York and files with the IRS under EIN 131978163. It is classified under NTEE code A60J.
How many years of IRS 990 filings does Foundation For Contemporary Arts Inc have?
Foundation For Contemporary Arts Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $11.0M in total revenue.
Is Foundation For Contemporary Arts Inc a good charity?
Based on the provided financial data, Foundation For Contemporary Arts Inc appears to be a very good charity. It consistently generates significant surpluses, grows its assets, and reports no officer compensation, indicating strong financial health and a high dedication of resources to its mission.
How does the organization manage to report 0% officer compensation?
The consistent reporting of 0% officer compensation is highly unusual for an organization of this scale. It suggests that executive leadership may be entirely volunteer-based, or that compensation is structured in a way that it is not reported under 'officer compensation' on the 990 form, such as through a related entity or as general staff salaries.
What is the trend in the organization's financial growth?
The organization shows a strong upward trend in financial growth. Assets have grown from $35,701,394 in 2019 to $50,346,689 in 2023. Revenue has also generally increased, with the latest reported revenue at $6,433,716 in 2023, demonstrating consistent financial expansion.
Filing History
IRS 990 filing history for Foundation For Contemporary Arts Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Foundation For Contemporary Arts Inc's revenue has grown by 83.7%, moving from $3.5M to $6.4M. Total assets increased by 258.3% over the same period, from $14.1M to $50.3M. Total functional expenses rose by 169.4%, from $1.2M to $3.3M. In its most recent filing year (2023), Foundation For Contemporary Arts Inc reported a surplus of $3.2M, with revenue exceeding expenses. The organization holds $1.1M in liabilities against $50.3M in assets (debt-to-asset ratio: 2.1%), resulting in net assets of $49.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $6.4M | $3.3M | $50.3M | $1.1M | — | — |
| 2022 | $8.1M | $2.8M | $41.7M | $1.0M | — | View 990 |
| 2021 | $7.6M | $5.4M | $44.0M | $971K | — | View 990 |
| 2020 | $5.4M | $4.8M | $41.3M | $966K | — | — |
| 2019 | $3.6M | $2.1M | $35.7M | $825K | — | View 990 |
| 2018 | $3.4M | $1.9M | $30.6M | $764K | — | View 990 |
| 2017 | $3.9M | $1.9M | $30.8M | $795K | — | — |
| 2016 | $2.9M | $1.7M | $24.9M | $699K | — | View 990 |
| 2015 | $2.4M | $1.6M | $23.1M | $670K | — | View 990 |
| 2014 | $4.5M | $1.6M | $22.2M | $574K | — | View 990 |
| 2013 | $4.0M | $1.8M | $19.2M | $512K | — | View 990 |
| 2012 | $2.1M | $1.2M | $16.5M | $885K | — | View 990 |
| 2011 | $3.5M | $1.2M | $14.1M | $407K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $6.4M, expenses of $3.3M, and assets of $50.3M (revenue -20.1% year-over-year).
- 2022: Revenue of $8.1M, expenses of $2.8M, and assets of $41.7M (revenue +6.2% year-over-year).
- 2021: Revenue of $7.6M, expenses of $5.4M, and assets of $44.0M (revenue +40.4% year-over-year).
- 2020: Revenue of $5.4M, expenses of $4.8M, and assets of $41.3M (revenue +48.9% year-over-year).
- 2019: Revenue of $3.6M, expenses of $2.1M, and assets of $35.7M (revenue +6.9% year-over-year).
- 2018: Revenue of $3.4M, expenses of $1.9M, and assets of $30.6M (revenue -12.4% year-over-year).
- 2017: Revenue of $3.9M, expenses of $1.9M, and assets of $30.8M (revenue +32.4% year-over-year).
- 2016: Revenue of $2.9M, expenses of $1.7M, and assets of $24.9M (revenue +24.2% year-over-year).
- 2015: Revenue of $2.4M, expenses of $1.6M, and assets of $23.1M (revenue -47.8% year-over-year).
- 2014: Revenue of $4.5M, expenses of $1.6M, and assets of $22.2M (revenue +12.9% year-over-year).
- 2013: Revenue of $4.0M, expenses of $1.8M, and assets of $19.2M (revenue +87.0% year-over-year).
- 2012: Revenue of $2.1M, expenses of $1.2M, and assets of $16.5M (revenue -39.1% year-over-year).
- 2011: Revenue of $3.5M, expenses of $1.2M, and assets of $14.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Foundation For Contemporary Arts Inc:
Data Sources and Methodology
This transparency report for Foundation For Contemporary Arts Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.