The Delaware Contemporary Arts Inc Arts Inc

What it reported doing in 2024

The Delaware contemporary offers many opportunities for artists to work within its facilities and in the community. Artists enter into agreements with the museum to have year-round working studios on-site and to open them for community events "the studios @" is an initiative designed to promote and strengthen studio artist involvement within our organization and our community. The Delaware contemporary accepted and welcomed 4 new studio artists this last year.the studios @ the Delaware contemporary: our onsite, 26 mixed-use studio spaces of galleries, artist studios and art incubators, are accessible to the public by appointment and during extended hours at designated events. Our studio space philosophy is rooted in a sense of community where proactivity, public engagement, diversity of ideas, perspectives and artistics practice are honored, respected, and achieved. It is a key goal this year to make the studio a destination for the public, collectors and curators by increasing our collaborative efforts, offering special incentives and heightening our programming. The Delaware contemporary continues to add to our artist opportunity offerings. In the last year we have introduced the draper experiment, a competitive opportunity that welcomes artists to push the boundaries of your typical art exhibition. This initiative will be moving into the different gallery space for the coming year and has been renamed as the hennessy experiment. We also offer curatorial portfolio reviews where our curatorial team reviews and provides constructive feedback how to strenghten their artistic portfolio. The Delaware contemporary has introduced performance art to our popular first friday art loop events.artist opportunity: the Delaware contemporary invites local emerging artists career to submit proposals for juried exhibition, inclusion in our retail and experimental installations. These opportunities are designed to advance their artistic growth and use the museum as a test lab to exercise ideas and push current practices in a space to experiment with craft, materials and mediums.

Financial Efficiency

• Mission deployment rate: 78.4%; rating input score 78
• Program expense ratio: 73.4%; rating input score 73
• Fundraising efficiency: $18.85 raised per $1 spent on fundraising; rating input score 57; 57th percentile among comparable filings

Transparency & Controls

• Consistency checks: 94.1%; rating input score 94; 25th percentile among comparable filings
• Pay-setting controls: Limited
• 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: 7 of 7 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • 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: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -4.4%; rating input score 25; 25th percentile among comparable filings
• Total-asset coverage ratio: 2.77; rating input score 73; 73rd percentile among comparable filings
• Liabilities to assets ratio: 0.4; rating input score 19; 19th percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

• Program expense growth: 1.5% per year; rating input score 100; 24th percentile among comparable filings
• Revenue growth: 1.2% per year; rating input score 100; 20th percentile among comparable filings
• Asset growth: -1.4% per year; rating input score 0; 13th percentile among comparable filings