Fellows of Contemporary Art
Nonprofit profile at a glance
- EIN
- 952977109
- IRS 990 coverage
- 2014–2024
- Forms available
- Form 990 2024
- Location
- Los Angeles, CA, USA
- Phone
- 2138081008
- Rating
- 79
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Visual Arts Organizations
Reported finances
- Revenue
- $911,951
- Expenses
- $809,833
- Assets
- $841,533
- Liabilities
- $108
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
23 people listed
People named in this filing
- PAM SMITH (Chair)
- LINDA MAGGARD (Vice Chair)
- NORIKO FUJINAMI (Treasurer)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Funding and promoting contemporary artists, exhibitions, and publications by emerging and organize exhibitions, with accompanying catalogues and videos, attax-exempt museums and galleries that have focus in contemporaty art. Organize local, national and international tours of collections and exhitbitions for educational purposes.
What it reported doing in 2024
Exhibitions - our goal is to support and foster interest in contemporary art. We have three ongoing programs to achieve this: underwriting exhibitions at national institutions, providing direct support to artists in the form of unrestricted grants and by inviting young curators to use our office space in chinatown to publicly present their ideas in a setting that encourages exploration and dialogue. To ensure a lasting record of each artists and curators work at a critical point in their career, the fellows of contemporary art publishes a scholarly catalog or pamphlet to accompany each exhibition and grant. Since our incorporation in 1975, foca has sponsored more than forty exhibits at venues nationwide, including in the chinatown district of los angeles.
Operating model
- Revenue model
- Earned-program. 68% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 92% 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.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 74
- Transparency & Controls: 89
- Accountability: 82
- Sustainability: 62
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 79.7%; rating input score 80
- Program expense ratio: 89.2%; rating input score 89
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 92.3%; rating input score 92; 16th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
- 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: 4 of 7 controls in place; rating input score 57
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- 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: 11.2%; rating input score 64; 64th percentile among comparable filings
- Total-asset coverage ratio: 1.04; rating input score 44; 44th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 82; 82nd percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings
Growth
- Program expense growth: -0.1% per year; rating input score 0; 17th percentile among comparable filings
- Revenue growth: 2.3% per year; rating input score 100; 27th percentile among comparable filings
- Asset growth: 4.9% per year; rating input score 100; 38th percentile among comparable filings
Details
- Where the money goes: 79.7% of revenue deployed · 89.2% of spending went to programs
- Governance: 23 of 23 board members independent · 4 of 7 filing controls reported
- Programs: 2 filed program accomplishments · $722K in reported program spending
- Leadership: top reported pay $0 · 23 people listed
- Consistency: 26 of 27 current checks pass · 1 finding to review
- Schedules: 6 filed schedules · includes major donors and grants
- Filing history: 10 filing years from 2014 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- Related organizations: 1 filed related-organization link
- 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.
- Review — Accountability: Governance controls: 2 of 6 not reported.
- High — Growth: Program expense growth scored 0/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 44/100.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.