Institute of Contemporary Art San Francisco

Nonprofit profile at a glance

EIN
881225820
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
San Francisco, CA, USA
Phone
4152269250
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Art Museums

Reported finances

Revenue
$2,534,744
Expenses
$2,195,382
Assets
$514,047
Liabilities
$34,190

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

Leadership & pay

15 people listed

Executive titles in this filing

  • ALISON GASS (PRESIDENT, KREIGER FAMILY)

Highest reported compensation

  • ALISON GASS (PRESIDENT, KREIGER FAMILY): $212,330 total reported compensation
  • WENDY CHANG (CHIEF FINANCIAL OFFICER): $69,779 total reported compensation

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

Overview

Mission

The institute of contemporary art san francisco (ica sf) is a free, non-collecting contemporary art museum. Ica sf offers artists from all over the world an opportunity to push boundaries, experiment with new ideas, and take risks. Through partnerships with artists and collaborators, ica sf seeks to explore the most critical social, political, and cultural issues happening in the world around us through the lens of artistic practice and is committed to expanding the future canon of artists shown in institutions. Building upon the lessons learned in the first "start up" years, ica sf remains continuously "under construction," committing to a nimbleness rarely found in art institutions. Ica sf seeks to make contemporary art relevant and meaningful for all audiences.

What it reported doing in 2024

The institute of contemporary art san francisco is a non-collecting art museum that offers artists from around the world an opportunity to push boundaries, experiment with new ideas, and take risks. We believe in the power of art to explore the most critical social, political, and cultural questions of our time and are committed to expanding the art historical canon of the future. Building upon the lessons learned in our early start-up years, ica sf remains continuously "under construction," embracing a nimbleness rarely found in art institutions. This approach allows us to respond dynamically to the city's evolving needs and to generate cultural momentum that catalyzes positive lasting change in neighborhoods and communities. We seek to make contemporary art relevant and meaningful for all audiences. Admission is always free.

Operating model

Revenue model
Donor-supported. 95% 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: 58
  • Transparency & Controls: 79
  • Accountability: 91
  • Sustainability: 45
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 59%; rating input score 59
  • Program expense ratio: 67.8%; rating input score 68
  • Fundraising efficiency: $5.53 raised per $1 spent on fundraising; rating input score 20; 20th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Pass
    • Written employment contract: Missing
    • 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: 92.9%; rating input score 93; 23rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 13.4%; rating input score 68; 68th percentile among comparable filings
  • Total-asset coverage ratio: 0.23; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 12.9%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: 8.3% per year; rating input score 100; 57th percentile among comparable filings
  • Revenue growth: -1.5% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: -60.2% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 59% of revenue deployed · 67.8% of spending went to programs
  • Governance: 13 of 14 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.5M in reported program spending
  • Leadership: top reported pay $212K · 15 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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 59/100.
  • High — Financial Efficiency: Fundraising efficiency scored 20/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • High — Sustainability: Officer compensation ratio scored 23/100.