Contemporary Arts Center

Nonprofit profile at a glance

EIN
720798830
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2023
Location
New Orleans, LA, USA
Phone
5045283805
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Performing Arts Centers

Reported finances

Revenue
$1,491,796
Expenses
$1,650,413
Assets
$7,600,917
Liabilities
$725,359

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

26 people listed

Executive titles in this filing

  • Gina Monette (President)
  • Leopoldo Yanez (vice President)

Highest reported compensation

  • Jaclyn Woollam (Director): $32,061 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide public access to contemporary art. The Contemporary Arts Center is a multi-disciplinary arts center that is dedicated to the presentation, production, and promotion of the arts of our time.

What it reported doing in 2024

The CAC presents and supports multi-disciplinary programs of visual and performing arts, education and artist resources. Visual Arts - thousands of patrons passed through the CAC's visual art exhibits. Many local and national artists' work were shown during the annual season, which featured many separate exhibits. Performing Arts - Provided professional deelopment through artist residencies, space and equipment usage to theatre artists, musicians, and dancers.

Operating model

Revenue model
Other-operating. 69% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 92
  • Accountability: 88
  • Sustainability: 44
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.2%; rating input score 68
  • Program expense ratio: 61.7%; rating input score 62
  • Fundraising efficiency: $12.68 raised per $1 spent on fundraising; rating input score 45; 45th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -10.6%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 4.61; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 43; 43rd percentile among comparable filings
  • Officer compensation ratio: 1.9%; rating input score 59; 59th percentile among comparable filings

Growth

  • Program expense growth: -7.7% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: -2.5% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: -2.1% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 68.2% of revenue deployed · 61.7% of spending went to programs
  • Governance: 26 of 26 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1M in reported program spending
  • Leadership: top reported pay $32K · 26 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 45/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 16/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 43/100.
  • Review — Sustainability: Officer compensation ratio scored 59/100.