Foundation For Contemporary Arts Inc

Organization Overview

Foundation For Contemporary Arts Inc, operating under the name Foundation For Contemporary Arts, is located in New York, NY. The organization was established in 1999. According to its NTEE Classification (A60) the organization is classified as: Performing Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Foundation For Contemporary Arts employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For Contemporary Arts 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 12/2021, Foundation For Contemporary Arts generated $7.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.2% each year . All expenses for the organization totaled $5.4m during the year ending 12/2021. While expenses have increased by 19.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Since 2014, Foundation For Contemporary Arts has awarded 29 individual grants totaling $320,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO ENCOURAGE, SPONSOR, AND PROMOTE INNOVATIVE WORK IN THE ARTS CREATED AND PRESENTED BY INDIVIDUALS, GROUPS, AND ORGANIZATIONS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

FCA EMERGENCY GRANTS COVID-19 BRIDGE FUND:THIS FUND WAS LAUNCHED IN APRIL 2021 IN RESPONSE TO THE SHIFTING NEEDS OF ARTISTS ONE YEAR INTO THE CORONAVIRUS PANDEMIC. OFFERED THROUGH DECEMBER 2021 AS A SUBSET OF FCA'S LONGTIME EMERGENCY GRANTS PROGRAM, THE BRIDGE FUND PROVIDED ONE-TIME $1,500 GRANTS TO EXPERIMENTAL ARTISTS FACING ECONOMIC INSTABILITY DURING THE PANDEMIC. ARTISTS FACING HOUSING INSECURITY, FOOD INSECURITY, OR MEDICAL EXPENSES RELATING TO COVID-19 COULD APPLY BY PEER REFERRAL. RECIPIENTS WERE DETERMINED THROUGH STAFF REVIEW OF APPLICATIONS AND SELECTION BY AN ARTIST PANEL. IN 2021, THE FUND DISBURSED $2,584,500 TO 1,723 ARTISTS.


GRANTS TO ARTISTS:THESE UNRESTRICTED, $45,000 CASH AWARDS ARE INTENDED TO PROVIDE RECIPIENTS THE FINANCIAL MEANS TO ENGAGE IN WHATEVER ARTISTIC ENDEAVORS THEY WISH TO PURSUE. RECIPIENTS ARE CHOSEN ANNUALLY THROUGH A CONFIDENTIAL PEER NOMINATION PROCESS, STAFF RESEARCH INTO NOMINEES AND SELECTION BY AN ARTIST PANEL. IN 2021, A TOTAL OF 19 GRANTS WERE MADE TO INDIVIDUAL ARTISTS TOTALING $855,000. SEVEN OF THESE AWARDS ARE NAMED AFTER AND IN MEMORY OF ARTISTS: MERCE CUNNINGHAM, HELEN FRANKENTHALER, ROY LICHTENSTEIN, ROBERT RAUSCHENBERG, DOROTHEA TANNING, CY TWOMBLY, AND C.D. WRIGHT.


EMERGENCY GRANTS:THESE GRANTS ARE AWARDED ON A ROLLING BASIS TO ARTISTS AND COLLECTIVES WHO INCUR UNEXPECTED EXPENSES WHEN PROJECTS ARE CLOSE TO COMPLETION OR RECEIVE SUDDEN OPPORTUNITIES TO PRESENT THEIR WORK TO THE PUBLIC. EMERGENCY GRANTS RANGE FROM $500 TO $3,000. RECIPIENTS ARE DETERMINED MONTHLY THROUGH AN OPEN APPLICATION PROCESS, STAFF REVIEW OF APPLICATIONS, AND SELECTION BY AN ARTIST PANEL. THE PROGRAM RESUMED IN JANUARY 2021 AFTER A SUSPENSION IN 2020 DUE TO THE COVID-19 PANDEMIC. IN 2021, FCA MADE 197 EMERGENCY GRANTS TOTALING $350,000.


OTHER PROGRAM SERVICES:FCA EMERGENCY GRANTS COVID-19 FUND:IN RESPONSE TO THE IMPACT OF THE COVID-19 PANDEMIC ON THE ARTIST COMMUNITY, AND THE CLOSURE OF ARTS VENUES WORLDWIDE, FCA ADMINISTERED THIS FUND THROUGH JUNE 2021 AS A SUBSET OF THE EMERGENCY GRANTS PROGRAM TO PROVIDE $2,000 GRANTS TO ARTISTS WHO EXPERIENCED THE CANCELLATION OR INDEFINITE POSTPONEMENT OF THEIR EXHIBITIONS OR PERFORMANCES. RECIPIENTS WERE DETERMINED THROUGH AN OPEN APPLICATION PROCESS, STAFF REVIEW OF APPLICATIONS, AND SELECTION BY AN ARTIST PANEL. IN 2021, THE FCA EMERGENCY GRANTS COVID-19 FUND DISBURSED $274,000 TO 137 ARTISTS.OTHER DONATIONS:IN AUGUST AND SEPTEMBER 2021, FCA MADE DONATIONS TOTALING $22,000 IN SUPPORT OF RACIAL AND SOCIAL JUSTICE EFFORTS BY ELEVEN MUTUAL AID FUNDS AND ORGANIZATIONS, MANY OF WHICH WERE FOUNDED AND/OR RUN BY ARTISTS. FCA ALSO MADE A ONE-TIME DONATION OF $5,000 TO THE PHILADELPHIA MUSEUM OF ART (PMA) IN SUPPORT OF CUNNINGHAM PERFORMANCES HELD ON THE OCCASION OF THE PMA'S JASPER JOHNS RETROSPECTIVE.THE ELLSWORTH KELLY AWARD:THIS AWARD WAS ESTABLISHED WITH AN ENDOWMENT GIFT FROM THE ELLSWORTH KELLY FOUNDATION IN HONOR OF THE ARTIST. ONE GRANT IS MADE ANNUALLY TO CREATE A SOLO EXHIBITION OPPORTUNITY FOR AN EMERGING, MID-CAREER OR UNDER-RECOGNIZED VISUAL ARTIST BY A U.S. ART MUSEUM OR UNIVERSITY OR COLLEGE ART GALLERY. RECIPIENTS ARE CHOSEN ANNUALLY FROM AMONG A GROUP OF INSTITUTIONS INVITED TO APPLY; STAFF REVIEW APPLICATIONS AND GRANTEES ARE SELECTED BY AN ARTIST PANEL. THE 2021 AWARD WAS $40,000. THE JOHN CAGE AWARD:THIS AWARD WAS ESTABLISHED IN 1992 IN MEMORY OF THE LATE COMPOSER, ONE OF FCA'S FOUNDERS. ONE GRANT IS MADE ON A BIENNIAL BASIS TO AN ARTIST IN RECOGNITION OF OUTSTANDING ACHIEVEMENT IN THE ARTS FOR WORK THAT REFLECTS CAGE'S SPIRIT. RECIPIENTS ARE CHOSEN ANNUALLY THROUGH A CONFIDENTIAL PEER NOMINATION PROCESS, STAFF RESEARCH INTO NOMINEES, AND SELECTION BY AN ARTIST PANEL. THE 2021 AWARD WAS $45,000.CONTEMPORARY VISUAL ARTS SCHOLARSHIP:THIS FOUR-YEAR $40,000 SCHOLARSHIP IS AWARDED ANNUALLY ON THE BASIS OF MERIT AND NEED TO ONE COLLEGE-BOUND SENIOR STUDENT FROM THE HOUSATONIC VALLEY REGIONAL HIGH SCHOOL WHO PLANS TO MAJOR IN FINE ARTS. FUNDING FOR THE SCHOLARSHIP IS CONTRIBUTED BY A CONNECTICUT-BASED DONOR. THE SCHOLARSHIP IS DISBURSED $10,000/YEAR ACROSS A FOUR-YEAR DEGREE. IN 2021, THREE STUDENTS MATRICULATED FOR A TOTAL OF $30,000 DISBURSED.


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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$564,410
Related organizations$0
Government grants $137,280
All other contributions, gifts, grants, and similar amounts not included above$3,957,974
Noncash contributions included in lines 1a–1f $756,265
Total Revenue from Contributions, Gifts, Grants & Similar$4,659,664
Total Program Service Revenue$0
Investment income $447,784
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $2,511,553
Net Income from Fundraising Events -$41,959
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $7,582,108

Grants Awarded

Over the last fiscal year, Foundation For Contemporary Arts Inc has awarded $90,000 in support to 6 organizations.

Grant RecipientAmount

VIRGINIA COMMONWEALTH UNIVERSITY

Org PageRecipient Profile

Richmond, VA

PURPOSE: ELLSWORTH KELLY AWARD

$40,000

UNIVERSITY OF HARTFORD

Org PageRecipient Profile

West Hartford, CT

PURPOSE: VISUAL ARTS SCHOLARSHIP

$10,000

SOUTHERN CONNECTICUT STATE UNIVERSITY

PURPOSE: VISUAL ARTS SCHOLARSHIP

$10,000

SYRACUSE UNIVERSITY

Org PageRecipient Profile

Syracuse, NY

PURPOSE: VISUAL ARTS SCHOLARSHIP

$10,000

SOUTHEASTERN CENTER FOR CONTEMPORARY ARTS

Org PageRecipient Profile

Winstonsalem, NC

PURPOSE: ELLSWORTH KELLY AWARD

$10,000

CRANBROOK ART INSTITUTE

Org PageRecipient Profile

Bloomfield Hills, MI

PURPOSE: ELLSWORTH KELLY AWARD

$10,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Foundation For Contemporary Arts Inc has recieved totaling $1,000.

Awarding OrganizationAmount
A Woodner Fund Inc

New York, NY

PURPOSE: MUSEUM OF CONTEMPORARY ART

$1,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$7,548,017
Earnings$718,184
Other Expense$220,000
Ending Balance$8,046,201

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