Ica La

Nonprofit profile at a glance

EIN
953992968
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Los Angeles, CA, USA
Phone
2139280833
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Art Museums

Official website

Reported finances

Revenue
$4,366,521
Expenses
$3,406,087
Assets
$13,072,752
Liabilities
$2,973,638

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

Leadership & pay

21 people listed

Executive titles in this filing

  • LAURA DONNELLEY (PRESIDENT EMERITUS)
  • MARIA GREENSHIELDS-ZIMAN (VICE PRESIDENT)
  • AKIO TAGAWA (PRESIDENT)
  • ANNE ELLEGOOD (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ANNE ELLEGOOD (EXECUTIVE DIRECTOR): $256,013 total reported compensation

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

Overview

Mission

Through its exhibitions and outreach programs, the institute of contemporary art, los angeles fosters diversity, innovation, and discovery in contemporary art - local, national, and international.

What it reported doing in 2024

The institute of contemporary art, los angeles (ica la)-a California not-for-profit corporation-is a non-collecting art museum. Founded in 1984 as the santa monica museum of art (smmoa) and reestablished in 2017 with a new identity and home in downtown los angeles, ica la builds upon a distinguished history of bold curatorial vision and innovative programming to illuminate the important untold stories and emerging voices in contemporary art and culture. The museum's 12,700 square-foot renovated industrial building-designed by why architecture under the leadership of kulapat yantrasast-features ample space for exhibitions, public programs, retail pop-ups, integrated offices, and special projects.ica la's mission is to support art that sparks the pleasure of discovery and challenges the way we see and experience the world, ourselves, and each other. Ica la is committed to upending hierarchies of race, class, gender, and culture. Through exhibitions, education programs, and community partnerships, ica la fosters critique of the familiar and empathy with the different.pursuant to its commitment to making contemporary art relevant and accessible for all, admission is free.

Operating model

Revenue model
Donor-supported. 96% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 74
  • Accountability: 100
  • Sustainability: 70
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 55.9%; rating input score 56
  • Program expense ratio: 71.1%; rating input score 71
  • Fundraising efficiency: $9.01 raised per $1 spent on fundraising; rating input score 34; 34th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 22%; rating input score 79; 79th percentile among comparable filings
  • Total-asset coverage ratio: 3.84; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 0.23; rating input score 41; 41st percentile among comparable filings
  • Officer compensation ratio: 7.5%; rating input score 39; 39th percentile among comparable filings

Growth

  • Program expense growth: 9.7% per year; rating input score 100; 63rd percentile among comparable filings
  • Revenue growth: 8.9% per year; rating input score 100; 64th percentile among comparable filings
  • Asset growth: 19% per year; rating input score 100; 82nd percentile among comparable filings

Details

  • Where the money goes: 55.9% of revenue deployed · 71.1% of spending went to programs
  • Governance: 20 of 20 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.4M in reported program spending
  • Leadership: top reported pay $256K · 21 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 8 filed schedules · includes major donors and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Review — Financial Efficiency: Mission deployment rate scored 56/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 34/100.
  • Moderate — Sustainability: Officer compensation ratio scored 39/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 41/100.