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The Institute of Contemporary Art
Also known as Icaboston
The Institute of Contemporary Art reported $31.0 million in revenue and $21.6 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $76.67 went to program services, $16.76 to management and general costs and $6.57 to fundraising. Its largest source of revenue was contributions and grants: 84.0% of the total. The highest compensation it reported for one person was $560,584 (DIRECTOR/EX-OFFICIO (UNTIL 3/31/25)). 19 people received more than $100,000 in reportable compensation. Revenue rose 66% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $22MFor context, the median across 876 covered arts, culture & humanities charities: $79.98 programs, $13.89 management, $6.13 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $31MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 76.7% | 78.5% |
| Management & general Part IX 25(C) ÷ 25(A) | 16.8% | 13.6% |
| Fundraising Part IX 25(D) ÷ 25(A) | 6.6% | 6.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.05 | $0.10 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 84.0% | 57.5% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.9% | 1.7% |
| Program service revenue share Part VIII 2g ÷ 12 | 8.4% | 20.8% |
| Highest reported compensation Part VII-A, columns D–F | $560,584 | $385,706 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 2.59% | 2.03% |
| People paid over $100,000 Part VII, line 2 | 19 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 77.9 | 36.6 |
| Independent voting board members Part VI 1a–1b | 38 of 39 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseArt exhibitions: gallery presentations: the ica presented 18 Contemporary Art exhibitions featuring painting, drawing, sculpture, video, installation, and more. Fy25 gallery exhibits attendance totaled visitors 184,842, watershed attendance numbered 26,897, and in-person programming attendance numbered 33,174. (see continuation on schedule o)
Education, adults, teens:the ica offers a robust range of educational programs built around themes in Contemporary Art and culture. Geared toward adult, teen, and family audiences, these include public programs, digital resources, and more. We extend our gratitude to the many individuals and organizations who contribute to the success of these initiatives, including teaching artists, community partners, schools, and the artists themselves.(see continuation on schedule o)
Performing and media arts:the ica presents some of the most innovative and forward-looking choreographers, musicians, filmmakers, theater companies and multi-disciplinary artists from boston and the rest of the world. In FY25 we offered 46 programs (performing arts and film). Attendance totaled approximately 21,823. We organized 51 performances by the following performers, artists and ensemble companies. Attendance of these performances totaled 16,857. (see continuation on schedule o)dance/theater* summer stages dance @ ica: jasmine hearn memory fleet open rehearsal * summer stages dance @…
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| DIRECTOR/EX-OFFICIO (UNTIL 3/31/25) Director/trustee, officer, 37.50 hrs/week | $516,794 | $0 | $43,790 | $560,584 |
| DIRECTOR OF DEVELOPMENT Highest compensated employee, 37.50 hrs/week | $247,410 | $0 | $41,131 | $288,541 |
| DIRECTOR FOR CURATORIAL AFFAIRS Key employee, 37.50 hrs/week | $230,651 | $0 | $13,025 | $243,676 |
| COMMUNICATIONS & MARKETING OFFICER Highest compensated employee, 37.50 hrs/week | $202,867 | $0 | $40,038 | $242,905 |
| DEPUTY DIRECTOR Highest compensated employee, 37.50 hrs/week | $211,904 | $0 | $11,276 | $223,180 |
| DIRECTOR OF INDIVIDUAL GIVING Highest compensated employee, 37.50 hrs/week | $175,733 | $0 | $40,030 | $215,763 |
| OF PERFORMING & MEDIA ARTS Highest compensated employee, 37.50 hrs/week | $180,052 | $0 | $18,922 | $198,974 |
| GOV./SEC./CLERK Officer, 37.50 hrs/week | $158,018 | $0 | $8,503 | $166,521 |
19 people received more than $100,000 in reportable compensation from The Institute of Contemporary Art (Part VII, line 2). Compensation of current officers, directors and key employees totaled $2.0M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b39 · 38 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 5275
- Volunteers Part I, line 6128
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| ALLIED UNIVERSAL Security services | $503,449 |
| US ART COMPANY INC Storage and shipping services | $453,456 |
| AMERICAN CLEANING Cleaning services | $451,261 |
| THE CATERED AFFAIR Catering services | $289,702 |
| GREENWOOD INDUSTRIES INC Commercial roofing contractor | $289,481 |
Individuals listed as contractors are left out. 16 contractors were paid more than $100,000 in all.
Private foundation grants it received
41 private foundations reported grants to The Institute of Contemporary Art totaling $2.6M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from The Institute of Contemporary Art's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for The Institute of Contemporary Art, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 The Institute of Contemporary Art spent in FY2025, $76.67 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- New York City CenterNew York, NY · revenue $31M · programs 78.0% · FY2025
- Atlanta Historical SocietyAtlanta, GA · revenue $31M · programs 74.5% · FY2025
- Victoria Theatre AssociationDayton, OH · revenue $31M · programs 87.1% · FY2025
- Portland Art MuseumPortland, OR · revenue $31M · programs 76.7% · FY2025
- Houston Grand Opera EndowmentHouston, TX · revenue $31M · programs 87.8% · FY2025
All arts, culture & humanities charities · Largest charities in Massachusetts
Questions people ask
How much of The Institute of Contemporary Art's spending goes to programs?
In the fiscal year ending June 30, 2025, The Institute of Contemporary Art reported that 76.7% of its $21.6 million in expenses went to program services, 16.8% to management and general and 6.6% to fundraising (Form 990, Part IX).
How much does The Institute of Contemporary Art pay its top executive?
The largest total compensation The Institute of Contemporary Art reported for one person in the fiscal year ending June 30, 2025 was $560,584, for the role of DIRECTOR/EX-OFFICIO (UNTIL 3/31/25) (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does The Institute of Contemporary Art get its money?
Of $31.0 million in revenue in the fiscal year ending June 30, 2025, 84.0% came from contributions and grants (including 0.9% from government grants) and 8.4% from program service revenue (Form 990, Part VIII).
Is The Institute of Contemporary Art a registered charity?
The IRS lists EIN 04-2104327 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202601209349301875 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202511289349303351 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202411149349302251 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202301329349302415 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202241309349303154 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202111349349302541 · read the filing
All filings for EIN 04-2104327: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.