Atlanta Contemporary Art Center Inc
- Assets
- $1.7m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 8
- Location
- Atlanta, GA
- Founding
- 06/1974
- Data as of
- 06/2023
- EIN
- 58-1174492
Organization Overview
Atlanta Contemporary Art Center Inc is located in Atlanta, GA. The organization was established in 1974. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2023, Atlanta Contemporary Art Center Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Atlanta Contemporary Art Center 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 06/2023, Atlanta Contemporary Art Center Inc generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.8% each year . All expenses for the organization totaled $837.5k during the year ending 06/2023. While expenses have increased by 2.9% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
DEDICATED TO THE CREATION, PRESENTATION AND ADVANCEMENT OF CONTEMPORARY ART THROUGH ITS EXHIBITIONS, EDUCATIONAL PROGRAMMING AND STUDIO ART PROGRAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A COMMUNITY THAT OFFERS EVER-EXPANDING SUPPORT FOR THE CREATION AND APPRECIATION OF CONTEMPORARY ART, ATLANTA CONTEMPORARY IS ONE OF TEH SOUTHEASTS LEADING CONTEMPORARY ART CENTERS. WE PRESENT OVER 200 CONSEQUENTIAL ARTISTS AND CREATIVES FROM THE LOCAL, NATIONAL, AND INTERNATIONAL ART SCENES THORUGH EXHIBITIONS, PROJECT SPACES, AND PROGRAMS EACH YEAR. WE COMMISSION NEW WORKS, PAYING PARTICULAR ATTENTION TO ARTISTS WHO HAVE NOT HAD A SIGNIFICANT EXHIBITION IN THE SOUTHEAST. WE ORGANIZE OVER 125 PROGRAMS ANNUALLY INCLUDING CONTEMPOARY KIDS, CONTEMPORARY COCKTAILS, CONTEMPORARY TALKS, AND MORE WE OPERATE WITH FREE ADMISSION, EVERY DAY WITH THE GOAL TO CHANGE THE WAY WE SEE ART. BY THE NUMBERS ARTISTS DEMOGRAPHICS AND RACE AND ETHNICITY - BIPOC CONSISTS OF 44 BLACK/AFRICAN AMERICAN 7 ASIAN AMERICAN 5 LATINX FOR A TOTAL OF 56. GENDER 76 FEMALE 20 MALE 4 GENDER NON-CONFORMING/NON-BINARY.
THE STUDIO ARTIST PROGRAM SUPPORTS LOCAL WORKING ARTISTS BY PROVIDING 13 SUBSIDIZED STUDIO SPACES AS WELL AS FOSTERING A COLLABORATIVE ENVIRONMENT SUPPORTIVE OF THE CREATIVE PROCESS. ARTISTS REPRESENT A DIVERSE RANGE OF DISCIPLINES INCLUDING CERAMICS, FILM AND VIDEO, INSTALLATION, PAINTING, PERFORMANCE, PHOTOGRAPHY AND SCULPTURE. STUDIOS RANGE IN SIZE FROM 225 TO 755 SQUARE FEET EACH SPACE ISUNIQUE. RENTAL RATES, WHICH INCLUDE UTILITIES, PARKING, AND WI-FI, ARE SUBSIDIZED AT 25 MARKET VALUE AS COMPARED TO OUR PEERS APPROXIMATED BASED ON THE SQUARE FOOTAGE OF EACH STUDIO AND LEASES RENEW ANNUALLYUP TO 3 YEARS TOTAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Veronica Kessenich Executive Director | Officer | 45 | $120,000 |
Katina Asbell Co-Chair | OfficerTrustee | 2 | $0 |
Odessa Archibald Co-Chair | OfficerTrustee | 2 | $0 |
Tara Ghei Treasurer | OfficerTrustee | 2 | $0 |
Corey Favor Board Member | Trustee | 1 | $0 |
Emily DE Golian MD Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $59,375 |
| Related organizations | $0 |
| Government grants | $155,550 |
| All other contributions, gifts, grants, and similar amounts not included above | $622,273 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $837,198 |
| Total Program Service Revenue | $76,371 |
| Investment income | $1,654 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $173,476 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$37,785 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $4,488 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,055,402 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $60,300 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $120,000 |
| Compensation of current officers, directors, key employees. | $95,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $203,071 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $28,031 |
| Payroll taxes | $24,199 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,425 |
| Fees for services: Accounting | $31,970 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,629 |
| Advertising and promotion | $22,510 |
| Office expenses | $49,227 |
| Information technology | $16,925 |
| Royalties | $0 |
| Occupancy | $121,955 |
| Travel | $2,260 |
| 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 | $60,886 |
| Insurance | $27,449 |
| All other expenses | $0 |
| Total functional expenses | $837,529 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $221,174 |
| Savings and temporary cash investments | $1,514 |
| Pledges and grants receivable | $230,000 |
| Accounts receivable, net | $2,219 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $962,368 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $322,132 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,739,407 |
| Accounts payable and accrued expenses | $63,384 |
| 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 | $143,054 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $18,172 |
| Total liabilities | $224,610 |
| Net assets without donor restrictions | $1,192,665 |
| Net assets with donor restrictions | $322,132 |
| 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 | $1,739,407 |