Craft Contemporary
- Assets
- $2.8m
- Revenue
- $1.1m
- Investments
- $917.6k
- Employees
- 20
- Location
- Los Angeles, CA
- Founding
- 04/1975
- Data as of
- 06/2022
- EIN
- 23-7442244
Organization Overview
Craft Contemporary is located in Los Angeles, CA. The organization was established in 1975. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Craft Contemporary employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Craft Contemporary 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, Craft Contemporary generated $1.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $1.1m during the year ending 06/2022. While expenses have increased by 2.1% per year over the past 6 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CRAFT CONTEMPORARY REVEALS THE POTENTIAL OF CRAFT TO EDUCATE, CAPTIVATE, PROVOKE, AND EMPOWER. WITH A FOCUS ON CONTEMPORARY ART MADE FROM CRAFT MEDIA AND PROCESSES, CRAFT CONTEMPORARY PRESENTS DYNAMIC EXHIBITIONS BY ESTABLISHED AND EMERGING ARTISTS AND DESIGNERS WHO ARE OFTEN UNDERREPRESENTED IN LARGER ART INSTITUTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CRAFT CONTEMPORARY IS AN ART MUSEUM WHOSE PURPOSE IS TO REVEAL THE POTENTIAL OF CRAFT TO EDUCATE, CAPTIVATE, PROVOKE, AND EMPOWER. CRAFT CONTEMPORARY ACHIEVES ITS MISSION BY EXHIBITING THE ARTISTS OF OUR TIME, GIVING VOICE TO LOCAL ARTISTS, EMERGING ARTISTS AND OFTEN UNDER-RECOGNIZED MID-CAREER ARTISTS BY CREATING APPROXIMATELY 6 EXHIBITIONS ANNUALLY. THE MUSEUM STRIVES TO ACHIEVE EQUITABLE ACCESS THROUGH FREE AND LOW-COST PROGRAMS, THE INCLUSION OF MULTIPLE TEACHING ARTISTS FROM COMMUNITIES THROUGHOUT L. A., AND A FULL ROSTER OF PUBLIC PROGRAMS INCLUDING: MONTHLY MAKER NIGHTS ARTIST TALKS AND STUDIO VISITS SCHOOL TOURS (FOR ELEMENTARY SCHOOL THROUGH COLLEGE) CRAFT YOUTH CULTURE TEEN PROGRAM AN OLDER ADULT WORKSHOP SERIES CALLED CRAFTING HISTORIES MONTHLY FAMILY WORKSHOP PROGRAMS CLASSES IN CRAFT SKILL DEVELOPMENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wally Marks III Director | Trustee | 1 | $0 |
Janice Pober Director | Trustee | 1 | $0 |
Lorraine Bonanni Director | Trustee | 1 | $0 |
Brad Fry Director | Trustee | 1 | $0 |
Joe Coriaty Director | Trustee | 1 | $0 |
Michael Johnson Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $42,376 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $114,350 |
| All other contributions, gifts, grants, and similar amounts not included above | $751,939 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $908,665 |
| Total Program Service Revenue | $47,006 |
| Investment income | $11,012 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $38,623 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $77,454 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,082,760 |
| 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. | $123,389 |
| Compensation of current officers, directors, key employees. | $30,847 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $492,667 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $28,763 |
| Payroll taxes | $48,887 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $56,460 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,052 |
| Advertising and promotion | $17,792 |
| Office expenses | $15,493 |
| Information technology | $21,781 |
| Royalties | $0 |
| Occupancy | $49,066 |
| Travel | $4,244 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $48,963 |
| Insurance | $14,498 |
| All other expenses | $5,029 |
| Total functional expenses | $1,077,316 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,194,826 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $17,347 |
| 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 | $37,963 |
| Prepaid expenses and deferred charges | $19,005 |
| Net Land, buildings, and equipment | $651,173 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $917,562 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,837,876 |
| Accounts payable and accrued expenses | $56,119 |
| 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 | $0 |
| Total liabilities | $56,119 |
| Net assets without donor restrictions | $1,571,766 |
| Net assets with donor restrictions | $1,209,991 |
| 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 | $2,837,876 |