Museum of Contemporary Art

Nonprofit profile at a glance

EIN
366154098
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Chicago, IL, USA
Phone
3123973808
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Art Museums

Official website

Reported finances

Revenue
$25,003,137
Expenses
$35,539,242
Assets
$213,337,833
Liabilities
$39,277,076

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

Leadership & pay

74 people listed

Highest reported compensation

  • MADELEINE GRYNSZTEJN (PRITZKER DIRECTOR): $894,699 total reported compensation
  • GWENDOLYN PERRY DAVIS (DEPUTY DIRECTOR & COO): $469,564 total reported compensation
  • WES MORAN (CFO): $271,496 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 mca is an innovative and compelling center of contemporary art where the public can directly experience the work and ideas of living artists, and understand the historical, social and cultural context of the art of our time. The museum boldly interweaves exhibitions, performances, collections, and educational programs to excite, challenge, and illuminate our visitors and to provide insight into the creative process. The mca aspires to engage a broad and diverse audience, create a sense of community and be a place for contemplation, stimulation, and discussion about contemporary art and culture.

What it reported doing in 2024

Education and public programs: the mca's education and public programming department produce numerous programs that benefit community members of all ages and backgrounds. Our programs seek to create a continuum of lifelong learning, with an emphasis on school age children through our free family day programs, teacher programs, school tours, and partnerships with specific schools. Most of these programs are free. Over 11,968 people have been welcomed to these programs.

Operating model

Revenue model
Donor-supported. 72% 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 - A large share of available resources goes toward mission work and most voting board members are independent. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 59
  • Accountability: 99
  • Sustainability: 37
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 75%; rating input score 75
  • Fundraising efficiency: $5.02 raised per $1 spent on fundraising; rating input score 20; 20th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.7%; rating input score 95; 24th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 98.5%; rating input score 98; 31st percentile among comparable filings
  • Governance controls: 9 of 9 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: 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: -42.1%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 6; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 61; 61st percentile among comparable filings
  • Officer compensation ratio: 7.8%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: 4.6% per year; rating input score 100; 38th percentile among comparable filings
  • Revenue growth: -0.2% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: 3.5% per year; rating input score 100; 26th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 75% of spending went to programs
  • Governance: 64 of 65 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $26.7M in reported program spending
  • Leadership: top reported pay $895K · 74 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $6.3M reported
  • Consistency: 39 of 40 current checks pass · 1 finding to review
  • Schedules: 9 filed schedules · includes major donors, foreign activity, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 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.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 20/100.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.