Institute Of Contemporary Art Miami Inc

Organization Overview

Institute Of Contemporary Art Miami Inc is located in Miami, FL. The organization was established in 2014. 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 09/2021, Institute Of Contemporary Art Miami Inc employed 58 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Institute Of Contemporary Art Miami Inc 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 09/2021, Institute Of Contemporary Art Miami Inc generated $8.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.8%) each year. All expenses for the organization totaled $7.4m during the year ending 09/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE INSTITUTE OF CONTEMPORARY ART, MIAMI (ICA MIAMI), IS DEDICATED TO PROMOTING THE WORK OF CONTEMPORARY ARTISTS, AND TO THE EXCHANGE OF ART AND IDEAS THROUGHOUT THE MIAMI REGION AND INTERNATIONALLY. THROUGH AN ENERGETIC CALENDAR OF EXHIBITIONS AND PROGRAMS, AND ITS COLLECTIONS, ICA MIAMI PROVIDES AN INTERNATIONAL PLATFORM FOR THE WORK OF ESTABLISHED AND EMERGING ARTISTS, AND ADVANCES THE PUBLIC APPRECIATION AND UNDERSTANDING OF THE MOST INNOVATIVE AND EXPERIMENTAL ART OF OUR TIME.

Describe the Organization's Program Activity:

Part 3 - Line 4a

EXHIBITIONS AND COLLECTIONS - SEE SCHEDULE O


EDUCATION AND OUTREACH - SEE SCHEDULE O


PUBLIC PROGRAMS - SEE SCHEDULE O


COMMUNICATIONSTHROUGH ITS COMMUNICATIONS PROGRAM, ICA MIAMI COMMUNICATES ITS MISSION AND ACTIVITIES TO THE PUBLIC. THE COMMUNICATIONS PROGRAM ALSO INFORMS THE PUBLIC ABOUT CONTEMPORARY ART AND ITS IMPORTANCE IN OUR SOCIETY THROUGH VARIOUS FORMS OF MEDIA.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Gander & White Shipping
Fine Art Shipping And Handling
$295,968
Wow Factor Marketing Group
Event Production Services
$186,354
Faena
Event Rental
$116,344
Museo Vault
Art Storage
$114,188
Resnicow And Associates Inc
Public Relations
$110,978
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$498,862
Fundraising events$0
Related organizations$0
Government grants $719,271
All other contributions, gifts, grants, and similar amounts not included above$6,534,740
Noncash contributions included in lines 1a–1f $32,730
Total Revenue from Contributions, Gifts, Grants & Similar$7,752,873
Total Program Service Revenue$12,828
Investment income $17,819
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $891,393
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $8,674,913

Grants Recieved

Over the last fiscal year, we have identified 26 grants that Institute Of Contemporary Art Miami Inc has recieved totaling $2,558,102.

Awarding OrganizationAmount
The Miami Foundation Inc

Miami, FL

PURPOSE: PROGRAM SUPPORT

$519,182
Arizona Community Foundation

Phoenix, AZ

PURPOSE: PROGRAM SUPPORT

$320,500
United Way Miami Inc

Miami, FL

PURPOSE: GENERAL FUNDS

$313,250
Micky And Madeleine Arison Family Foundation

Coral Gables, FL

PURPOSE: GENERAL SUPPORT

$275,000
$225,000
The David Herro Charitable Foundation

Palm Beach, FL

PURPOSE: UNRESTRICTED CONTRIBUTION

$167,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$597,623
Earnings$93,349
Ending Balance$690,972

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