← INSTITUTE OF CONTEMPORARY ART MIAMI INC

Form 990 for tax year 2022

Filed by INSTITUTE OF CONTEMPORARY ART MIAMI INC.

Totals

Total revenue: $12,066,773
Total expenses: $10,185,219
Contributions and grants received: $10,027,428
Grants paid: $0
Program service revenue: $43,537
Investment income: $193,063
Other revenue: $1,802,745
Total assets, end of year: $56,703,275
Total liabilities, end of year: $1,706,811
Net assets or fund balances, end of year: $54,996,464
Program services expenses (Part IX): $8,009,386
Management and general expenses: $1,184,197
Fundraising expenses: $991,636
Program service expenses (Part III): $8,009,386

Program services were 78.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

1b · Membership dues

$489,968
1c · Fundraising events

$155,015
1e · Government grants (contributions)

$912,415
1f · All other contributions, gifts and grants

$8,470,030
1g · Noncash contributions included above

$76,511
2a · Program service revenue: GIFT SHOP

total $43,537 · related or exempt $43,537
3 · Investment income

total $117,141 · excluded $117,141
4 · Income from investment of tax-exempt bond proceeds

total $0
5 · Royalties

total $0
6c · Rental income or loss

real property $0 · personal property $0
6d · Net rental income or loss

total $0
7a · Gross sales of assets other than inventory

securities $75,922
7c · Gain or loss

securities $75,922
7d · Net gain or loss

total $75,922 · excluded $75,922
8a · Fundraising events: gross income

$2,463,403
8a · Fundraising events: contributions included on line 1c

$155,015
8b · Fundraising events: direct expenses

$660,658
8c · Net income from fundraising events

total $1,802,745 · excluded $1,802,745
9a · Gaming: gross income

$0
9b · Gaming: direct expenses

$0
9c · Net income from gaming

total $0
10a · Gross sales of inventory

$0
10b · Cost of goods sold

$0
10c · Net income from sales of inventory

total $0
11e · Other revenue, total

$0

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $0
2 · Grants to domestic individuals

total $0
3 · Grants to foreign organizations and individuals

total $0
4 · Benefits paid to or for members

total $0
5 · Compensation of officers, directors and key employees

total $479,845 · program services $323,264 · management and general $90,918 · fundraising $65,663
6 · Compensation of disqualified persons

total $0
7 · Other salaries and wages

total $1,861,646 · program services $1,254,162 · management and general $352,733 · fundraising $254,751
8 · Pension plan contributions

total $153,263 · program services $103,251 · management and general $29,039 · fundraising $20,973
9 · Other employee benefits

total $275,726 · program services $185,752 · management and general $52,243 · fundraising $37,731
10 · Payroll taxes

total $163,880 · program services $110,403 · management and general $31,051 · fundraising $22,426
11a · Fees: management

total $0
11b · Fees: legal

total $0
11c · Fees: accounting

total $23,210 · management and general $23,210
11d · Fees: lobbying

total $0
11e · Fees: professional fundraising services

total $0
11f · Fees: investment management

total $0
11g · Fees: other

total $577,306 · program services $366,612 · management and general $148,620 · fundraising $62,074
12 · Advertising and promotion

total $74,282 · program services $73,382 · fundraising $900
13 · Office expenses

total $19,594 · program services $18,908 · management and general $588 · fundraising $98
14 · Information technology

total $64,815 · program services $63,466 · management and general $1,349
15 · Royalties

total $0
16 · Occupancy

total $165,440 · program services $153,626 · management and general $8,244 · fundraising $3,570
17 · Travel

total $390,992 · program services $45,463 · management and general $91,616 · fundraising $253,913
18 · Travel or entertainment for public officials

total $0
19 · Conferences, conventions and meetings

total $0
20 · Interest

total $0
21 · Payments to affiliates

total $0
22 · Depreciation, depletion and amortization

total $553,749 · program services $534,368 · management and general $16,612 · fundraising $2,769
23 · Insurance

total $138,235 · program services $108,899 · management and general $17,034 · fundraising $12,302
24a · Other expenses: ARTIST EXHIBITIONS

total $2,619,326 · program services $2,618,131 · management and general $1,195
24b · Other expenses: ART SHIPPING AND CRATING

total $993,601 · program services $991,749 · management and general $1,852
24c · Other expenses: CONTRACT SERVICES AND FEES

total $537,997 · program services $311,553 · management and general $114,979 · fundraising $111,465
24d · Other expenses: REPAIRS AND MAINTENANCE

total $118,394 · program services $114,250 · management and general $3,552 · fundraising $592
24e · All other expenses

total $973,918 · program services $632,147 · management and general $199,362 · fundraising $142,409

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $906,599 · end of year $492,029
2 · Savings and temporary cash investments

beginning of year $1,800,607 · end of year $4,086,693
3 · Pledges and grants receivable

beginning of year $8,911,576 · end of year $8,182,754
4 · Accounts receivable

beginning of year $0 · end of year $0
5 · Loans and receivables from officers and key people

beginning of year $0 · end of year $0
6 · Loans and receivables from disqualified persons

beginning of year $0 · end of year $0
7 · Other notes and loans receivable

beginning of year $0 · end of year $0
8 · Inventories for sale or use

beginning of year $0 · end of year $0
9 · Prepaid expenses and deferred charges

beginning of year $16,697 · end of year $22,253
10a · Land, buildings and equipment: cost or other basis

$44,442,971
10b · Land, buildings and equipment: accumulated depreciation

$3,361,032
10c · Land, buildings and equipment, net

beginning of year $41,573,269 · end of year $41,081,939
11 · Investments: publicly traded securities

beginning of year $1,756,751 · end of year $2,837,607
12 · Investments: other securities

beginning of year $0 · end of year $0
13 · Investments: program-related

beginning of year $0 · end of year $0
14 · Intangible assets

beginning of year $0 · end of year $0
15 · Other assets

beginning of year $0 · end of year $0
17 · Accounts payable and accrued expenses

beginning of year $562,056 · end of year $536,811
18 · Grants payable

beginning of year $0 · end of year $0
19 · Deferred revenue

beginning of year $1,385,093 · end of year $1,170,000
20 · Tax-exempt bond liabilities

beginning of year $0 · end of year $0
21 · Escrow or custodial account liability

beginning of year $0 · end of year $0
22 · Loans and payables to officers and key people

beginning of year $0 · end of year $0
23 · Secured mortgages and notes payable

beginning of year $0 · end of year $0
24 · Unsecured notes and loans payable

beginning of year $0 · end of year $0
25 · Other liabilities

beginning of year $0 · end of year $0
27 · Net assets without donor restrictions

beginning of year $19,298,441 · end of year $21,516,917
28 · Net assets with donor restrictions

beginning of year $33,719,909 · end of year $33,479,547

Mission and programs · 2022

Mission

THE INSTITUTE OF CONTEMPORARY ART, MIAMI (ICA MIAMI), IS DEDICATED TO PROMOTING THE WORK OF CONTEMPORARY ARTISTS, AND TO THE EXCHANGE OF ART AND IDEAS THROUGHOUT THE MIAMI REGION AND INTERNATIONALLY. THROUGH AN ENERGETIC CALENDAR OF (CONTINUED ON SCHEDULE O)

Activities or mission (Part I)

THE INSTITUTE OF CONTEMPORARY ART, MIAMI (ICA MIAMI), IS DEDICATED TO PROMOTING THE WORK OF CONTEMPORARY ARTISTS, AND TO THE EXCHANGE OF ART AND (CONTINUED ON SCHEDULE O)

EXHIBITIONS AND COLLECTIONS - SEE SCHEDULE O

Expenses $8,009,386 · Revenue $43,537
COMMUNICATION - SEE SCHEDULE O
PUBLIC PROGRAMS - SEE SCHEDULE O

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Alex GartenfeldALEX GARTENFELD

ARTISTIC DIRECTOR

Total calculated

$338,281

From this org

$327,309

From related orgs

$0

Other

$10,972

Hours/week

40

Schedule J breakdown matched by us

Base

$277,059

Bonus

$50,250

Other

$0

Deferred

$10,972

Nontaxable benefits

$0

Filer's total

$338,281
Anthony TroisiANTHONY TROISI

DIRECTOR OF FINANCE

Total calculated

$141,565

From this org

$141,565

From related orgs

$0

Other

$0

Hours/week

40
Courtney CasciCOURTNEY CASCI

DIR, DEVELOP & EXTRNL AFFAIRS

Total calculated

$138,995

From this org

$133,578

From related orgs

$0

Other

$5,417

Hours/week

40
Kerri KneerKERRI KNEER

DIR OF EXHIBITS & VISITOR SVCS

Total calculated

$106,558

From this org

$102,291

From related orgs

$0

Other

$4,267

Hours/week

40
Irma BramanIRMA BRAMAN

CHAIR

Total calculated

$0

Hours/week

5
Ray Ellen YarkinRAY ELLEN YARKIN

CHAIR

Total calculated

$0

Hours/week

5
Janice LiptonJANICE LIPTON

VICE CHAIR

Total calculated

$0

Hours/week

5
Margot GreigMARGOT GREIG

PRESIDENT

Total calculated

$0

Hours/week

5
Debi WechslerDEBI WECHSLER

SECRETARY

Total calculated

$0

Hours/week

5
Paula MorabitoPAULA MORABITO

TREASURER

Total calculated

$0

Hours/week

5
Daphna BentataDAPHNA BENTATA

EXECUTIVE COMMITTEE

Total calculated

$0

Hours/week

2
Monica GrossmanMONICA GROSSMAN

EXECUTIVE COMMITTEE

Total calculated

$0

Hours/week

2
Manny KadreMANNY KADRE

EXECUTIVE COMMITTEE

Total calculated

$0

Hours/week

2
Edward NicollEDWARD NICOLL

EXECUTIVE COMMITTEE

Total calculated

$0

Hours/week

2
Andi PotamkinANDI POTAMKIN

EXECUTIVE COMMITTEE

Total calculated

$0

Hours/week

2
Alex WitkoffALEX WITKOFF

EXECUTIVE COMMITTEE

Total calculated

$0

Hours/week

2
Michele BeyerMICHELE BEYER

TRUSTEE

Total calculated

$0

Hours/week

2
Daniel BerkowitzDANIEL BERKOWITZ

TRUSTEE

Total calculated

$0

Hours/week

2
Seth CampbellSETH CAMPBELL

TRUSTEE

Total calculated

$0

Hours/week

2
Catherine CarrafiellCATHERINE CARRAFIELL

TRUSTEE

Total calculated

$0

Hours/week

2
Michael ChaviesMICHAEL CHAVIES

TRUSTEE

Total calculated

$0

Hours/week

2
Dean ColsonDEAN COLSON

TRUSTEE

Total calculated

$0

Hours/week

2
Suzi CordishSUZI CORDISH

TRUSTEE

Total calculated

$0

Hours/week

2
Pilar CrespiPILAR CRESPI

TRUSTEE

Total calculated

$0

Hours/week

2
Ralph J GindiRALPH J GINDI

TRUSTEE

Total calculated

$0

Hours/week

2
Jorge GonzalezJORGE GONZALEZ

TRUSTEE

Total calculated

$0

Hours/week

2
Steven GuttmanSTEVEN GUTTMAN

TRUSTEE

Total calculated

$0

Hours/week

2
Matthew HerfieldMATTHEW HERFIELD

TRUSTEE

Total calculated

$0

Hours/week

2
Kris HinsonKRIS HINSON

TRUSTEE

Total calculated

$0

Hours/week

2
Joanne R KatzJOANNE R KATZ

TRUSTEE

Total calculated

$0

Hours/week

2
Tammy LevineTAMMY LEVINE

TRUSTEE

Total calculated

$0

Hours/week

2
Robert LowingerROBERT LOWINGER

TRUSTEE

Total calculated

$0

Hours/week

2
John MarquezJOHN MARQUEZ

TRUSTEE

Total calculated

$0

Hours/week

2
Christina MartinCHRISTINA MARTIN

TRUSTEE

Total calculated

$0

Hours/week

2
Arlene H MendelsonARLENE H MENDELSON

TRUSTEE

Total calculated

$0

Hours/week

2
Maia MonellMAIA MONELL

TRUSTEE

Total calculated

$0

Hours/week

2
Diana MorrisonDIANA MORRISON

TRUSTEE

Total calculated

$0

Hours/week

2
Amanda MullenAMANDA MULLEN

TRUSTEE

Total calculated

$0

Hours/week

2
Yani O'NealYANI O'NEAL

TRUSTEE

Total calculated

$0

Hours/week

2
Ari RothsteinARI ROTHSTEIN

TRUSTEE

Total calculated

$0

Hours/week

2
Chandra RuddCHANDRA RUDD

TRUSTEE

Total calculated

$0

Hours/week

2
Andre SakhaiANDRE SAKHAI

TRUSTEE

Total calculated

$0

Hours/week

2
Sarah ScaliSARAH SCALI

TRUSTEE

Total calculated

$0

Hours/week

2
Laurie Lynn StarkLAURIE LYNN STARK

TRUSTEE

Total calculated

$0

Hours/week

2
Kay TorshenKAY TORSHEN

TRUSTEE

Total calculated

$0

Hours/week

2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

3 · Written employment contract
3 · Compensation survey or study
3 · Approval by the board or compensation committee

Answered no

4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan
4c · Equity-based compensation arrangement
5a · Pay contingent on this organization's revenues
5b · Pay contingent on a related organization's revenues
6a · Pay contingent on this organization's net earnings
6b · Pay contingent on a related organization's net earnings
7 · Other non-fixed payments
8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type: form_990
Tax year: 2022
Filed: 23 July 2024
IRS schema version: 2022v5.0
Source object: 202432259349302408

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