Institute of Contemporary Art Miami Inc

What it reported doing in 2024

Exhibitions and collections during fiscal year 2025, ica miami hosted a wide range of exhibitions from diverse international artists. Major exhibitions during fiscal year 2025 included the following: from november 2024 to march 2025, ica miami presented "keichi tanaami: memory collage," a survey of foundational japanese pop artist, keichi taanami, which included six decades of works. Tanaami was part of the first generation of postwar japanese artists who had to urgently find ways to mediate the trauma of nuclear war and the arrival of psychedelic culture to japan in the 1960s. He worked across various media, from animations and collages to paintings and digital videos. From november 2024 to march 2025, ica miami presented "crossroads: rubem valentim's 1960s." rubem valentin was the first brazilian artist to marry the long history of geometric abstraction in painting with a visual language derived from the afro-brazilian religion of candomble, producing unprecedented new forms. The exhibition focus specifically in the work of the 1960s, which was the most important and ground-breaking decade of valetim's production. From december 2024 to march 2025, ica miami showcased laurie simmons project "kaleidoscope house," in collaboration with miami design district. From december 2024-march 2025, ica miami presented "lucy bull: the garden of forking paths." the exhibition was the first museum exhibition for lucy bull, an american abstract painter. Along with "lucy bull: the garden of forking paths," ica miami also commissioned bull to make a new, 40-foot painting for the museum's stairwell, which was on display between december 2024 and october 2025. From december 2024 to march 2025, ica miami presented "margueritte humeau: \*sk\*/ey-," the first museum exhibition for paris-born and london-based sculptor margueritte humeau. The exhbition presented a new group of works that explored posthuman landscapes, mutating species, and irregular materials. From december 2024 to april 2025, ica miami presented "ding shilun: janus," the first museum exhibition for artist ding shilun, whose paintings explore, through mystical and ghostly scenes, coming-of-age narratives. In march 2025, in collaboration with miami design district, ica presented "marta minujin: dreamsacpe," a large-scale and interactive outdoor installation by historical argentinean artist, marta minujin. From april to november 2025, ica presented "miriam shapiro: 1967-1972," which showcased an important and rarely shown set of paintings by shapiro, some of the first work anywhere to use computers in their production. From may to october 2025, ica miami hosted "olga de amaral," an exhibition of pioneering colombian pioneer fiber artists. It was her largest retrospective to date thus far, including over 50 works produced over the lst six decades. From may to october 2025, ica miami presented "sanaa gateja: language of we," an exhibition of large-scale quilts made with dyed paper beads by ugandan artist sanaa gateja. From may to october 2025, ica miami presented "mildred thomson: frequencies," a survey of the works of late african-american artist mildred thompson. Thompson's richly staurated, large-scale paintings explore phenomena that unfold beyond the thresholds of huamn sight, from cosmic events and microscopic realities to different sound frequencies. In june 2025, ica miami presented "konstatino dregos: prima materia," an exhibition of minimalist paintings by dregos, which employ mathematical formulas as their subject matter. In july 2025, ica miami presented "eric doeringer," an exhibition of paintings which doeringer made in the specific style of other artists, raising questions of authorship, creativity, and property. In april 2025, ica miami presented "moving beyond bars," an exhibition featuring monumnetal works and personal writings created by women incarcerated at Florida women's prison in ocala, Florida, and men incarcerated at the South Dakota state peniterntiary, sioux f

Financial Efficiency

• Mission deployment rate: 60.2%; rating input score 60
• Program expense ratio: 76.6%; rating input score 77
• Fundraising efficiency: $9.8 raised per $1 spent on fundraising; rating input score 38; 38th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Pass
  • Compensation survey or study: Pass
  • 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; 66th percentile among comparable filings
• Governance controls: 7 of 8 controls in place; rating input score 88
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 21.9%; rating input score 83; 83rd percentile among comparable filings
• Total-asset coverage ratio: 6.43; rating input score 87; 87th percentile among comparable filings
• Liabilities to assets ratio: 0.24; rating input score 53; 53rd percentile among comparable filings
• Officer compensation ratio: 8.8%; rating input score 26; 26th percentile among comparable filings

Growth

• Program expense growth: 8.4% per year; rating input score 100; 63rd percentile among comparable filings
• Revenue growth: 0.8% per year; rating input score 100; 11th percentile among comparable filings
• Asset growth: 3.1% per year; rating input score 100; 23rd percentile among comparable filings