Civic Intelligence

Museum of Contemporary Art

EIN 36-6154098 • 501(c)3 • Chicago, IL

Profile

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.

220 East Chicago AvenueChicago, IL 60611

www.mcachicago.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

40th percentile

0.18x

Higher debt load relative to assets than 40% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Liabilities / Revenue

80th percentile

1.57x

Higher debt load relative to revenue than 80% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Net Margin

5th percentile

-42%

Higher net margin than 5% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Top Officer Pay

77th percentile

$894,699

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 3.6% of source-year revenue.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Asset Growth

29th percentile

1.4%

Faster asset growth than 29% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2024 to 2025

Revenue Growth

86th percentile

45%

Faster revenue growth than 86% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2024 to 2025

Assets

Down

$213,513,688

Down $18,179,971 (-7.8%) from 2021

Liabilities

Down

$33,679,240

Down $3,922,997 (-10%) from 2021

Net Assets

Down

$179,834,448

Down $14,256,974 (-7.3%) from 2021

Revenue

Up

$28,449,427

Up $1,632,316 (+6.1%) from 2021

Expenses

Up

$24,551,207

Up $3,702,225 (+18%) from 2021

Net Income

Down

$3,898,220

Down $2,069,909 (-35%) from 2021

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300M$200M$100M$0Assets 2010: $123,857,149Liabilities 2010: $36,298,790Net Assets 2010: $87,558,3592010Assets 2011: $132,420,783Liabilities 2011: $34,865,903Net Assets 2011: $97,554,8802011Assets 2013: $155,368,070Liabilities 2013: $35,971,089Net Assets 2013: $119,396,9812013Assets 2014: $168,963,258Liabilities 2014: $37,174,838Net Assets 2014: $131,788,4202014Assets 2015: $181,989,697Liabilities 2015: $36,416,757Net Assets 2015: $145,572,9402015Assets 2016: $179,389,165Liabilities 2016: $35,991,805Net Assets 2016: $143,397,3602016Assets 2017: $199,722,563Liabilities 2017: $38,077,607Net Assets 2017: $161,644,9562017Assets 2018: $199,499,265Liabilities 2018: $34,227,764Net Assets 2018: $165,271,5012018Assets 2021: $231,693,659Liabilities 2021: $37,602,237Net Assets 2021: $194,091,4222021Assets 2022: $213,513,688Liabilities 2022: $33,679,240Net Assets 2022: $179,834,4482022

Highlighted filing

2022

Assets$213,513,688
Liabilities$33,679,240
Net Assets$179,834,448

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$40M$20M$0-$20MExpenses 2010: $14,655,7362010Expenses 2011: $15,102,6312011Expenses 2013: $17,655,9242013Revenue 2014: $20,846,926Expenses 2014: $19,180,533Net Income 2014: $1,666,3932014Revenue 2015: $36,862,930Expenses 2015: $23,428,975Net Income 2015: $13,433,9552015Revenue 2016: $26,439,711Expenses 2016: $21,922,273Net Income 2016: $4,517,4382016Revenue 2017: $24,973,783Expenses 2017: $21,058,376Net Income 2017: $3,915,4072017Revenue 2018: $20,684,452Expenses 2018: $25,065,124Net Income 2018: -$4,380,6722018Revenue 2021: $26,817,111Expenses 2021: $20,848,982Net Income 2021: $5,968,1292021Revenue 2022: $28,449,427Expenses 2022: $24,551,207Net Income 2022: $3,898,2202022

Highlighted filing

2022

Revenue$28,449,427
Expenses$24,551,207
Net Income$3,898,220

Filings

Latest Detailed Filing

The latest 2022 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2021 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Mar 2, 2022
Return Version
2020v4.2
Gross Receipts
$32,271,068
Mission and Program 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.

Enhance appreciation of contemporary art through education, programming and exhibitions.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$93,665,509$130,083,412▲ $36,417,903
Land, Buildings, and Equipment, Net$42,651,167$40,195,619▼ $2,455,548
Investments in Publicly Traded Securities$27,769,177$27,066,826▼ $702,351
Cash and Non-Interest-Bearing Accounts$17,514,041$16,606,920▼ $907,121
Savings and Temporary Cash Investments$10,585,528$13,236,724▲ $2,651,196
Pledges and Grants Receivable$4,816,923$2,583,690▼ $2,233,233
Prepaid Expenses and Deferred Charges$528,788$892,855▲ $364,067
Inventories for Sale or Use$1,278,193$539,141▼ $739,052
Accounts Receivable$645,806$488,472▼ $157,334
Total Assets$199,455,132$231,693,659▲ $32,238,527
Liabilities
Tax Exempt Bond Liabilities$29,880,128$29,900,107▲ $19,979
Accounts Payable and Accrued Expenses$1,999,739$2,638,223▲ $638,484
Other Liabilities$3,771,162$2,549,193▼ $1,221,969
Deferred Revenue$2,645,774$2,514,714▼ $131,060
Total Liabilities$38,296,803$37,602,237▼ $694,566
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$107,616,374$134,726,030▲ $27,109,656
Net Assets With Donor Restrictions$53,541,955$59,365,392▲ $5,823,437
Total Net Assets Fund Balance$161,158,329$194,091,422▲ $32,933,093
Total Liabilities and Net Assets / Fund Balance$199,455,132$231,693,659▲ $32,238,527

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$34,961,003$35,419,163$70,380,166
Equipment$1,711,358$8,787,071$10,498,429
Land$3,523,258-$3,523,258
Other Securities$1,408,000--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$20,736,032-▲ $5,874,518$796,040$25,814,510
2019$21,358,230-▲ $264,842$887,040$20,736,032
2018$21,633,985-▲ $625,222$900,977$21,358,230
2017$20,847,421-▲ $1,657,466$870,902$21,633,985
2016$18,826,371-▲ $3,097,455$1,076,405$20,847,421
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Madeleine GrynsztejnPritzker Director & CEOFT$572,527$142,742$715,269
Lisa KeyDeputy DirectorFT$243,287$45,531$288,818
Michael DarlingChief Curator Thru 2/5/21FT$234,012$39,548$273,560
Gwendolyn Perry DavisSr. Director of Operations Beg. 10/8/20FT$175,922$45,419$221,341
Anne-marie EischenSr. Director of FinanceFT$131,349$28,149$159,498
Claire RuudDirector of Curatorial StrategyFT$126,893$28,941$155,834
Nina YungDirector of DevelopmentFT$125,857$28,064$153,921
Gina CrowleyDirector of Audience ExperienceFT$107,584$24,531$132,115
Angela MorrowDirector of Collections & ExhibitionsFT$100,469$22,479$122,948
Amy BuczkoSr. Director of Operations Thru 10/6/20FT$42,733$7,222$49,955

Board Members and Trustees

NameTitle
MICHAEL O'GRADYBoard Chair and Trustee
Anne KaplanVice Chair and Trustee
Cari SacksVice Chair and Trustee
Leslie BluhmVice Chair and Trustee
Nickol HackettSecretary and Trustee
King HarrisTreasurer and Trustee
Ashley Hemphill NetzkyTrustee
Carol CohenTrustee
Carol PrinsTrustee
Carries Reyes MurphyTrustee
Cheryl S DurstTrustee
Cynthia HuntTrustee
Dia S WeilTrustee
Dimitris DaskalopoulosTrustee
Dr Julius FewTrustee
Elizabeth LefkofskyTrustee
Ellen B WallaceTrustee
Ellen-blair ChubeTrustee
Eve RodgersTrustee
Helen ZellTrustee
I Joyce YaungTrustee
Ilan ShalitTrustee
Jack GuthmanTrustee
James H LitinskyTrustee
Janaina HeesTrustee
Jay Owen JrTrustee
John B HarrisTrustee
Jonathan LevinTrustee
Julie BernsteinTrustee
Kate NeisserTrustee
Kenneth C GriffinTrustee
Larry FieldsTrustee
Laura Keidan MartinTrustee
Lisa DuarteTrustee
Lois EisenTrustee
Marc BrooksTrustee
Marlene Breslow-blitsteinTrustee
Marquis D MillerTrustee
Martin NesbittTrustee
Michael AlperTrustee
Michael CanmannTrustee
Nancy CrownTrustee
Nicholas GiampietroTrustee
Nigel F TelmanTrustee
Pedro WeissTrustee
Peter J BarackTrustee
Robert BellickTrustee
Robert H DefaresTrustee
Ron LevinTrustee
Sara AlbrechtTrustee
Sara SzoldTrustee
Tarrah Cooper WrightTrustee
William SilversteinTrustee
Allen M TurnerLife Trustee
Daryl Gerber StokolsLife Trustee
Don KaulLife Trustee
Donna a StoneLife Trustee
Dorie SternbergLife Trustee
Gael NeesonLife Trustee
Helyn D GoldenbergLife Trustee
James a GordonLife Trustee
John D CartlandLife Trustee
Marjorie SusmanLife Trustee
Marshall FrontLife Trustee
Mary IttelsonLife Trustee
Penny PritzkerLife Trustee
Sally Meyers KoverLife Trustee
Willam HoodLife Trustee

Highest Paid Contractors

ContractorServicesLocationCompensation
Securitas Security USA INCSecurity Services12672 COLLECTIONS CENTER DRIVE, Chicago, IL 60693-0126$762,301
Abm Industry Groups LLCHvac Contractor180 NORTH LASALLE ST SUITE 1700, Chicago, IL 60601$472,570
US Art Company INCArt Storage4400 W OHIO ST, Chicago, IL 60624$374,069
Bms Of Chicago LLCJanitorial ServicesELEVEN PENN PLAZA SUITE 110, New York, NY 10001$337,738
Teamlogic ItIt Services And Supplies935 W CHESTNUT ST SUITE 420, Chicago, IL 60642$304,397
Revenue and Support

Revenue Composition

Contributions and Grants
$15,836,657
Program Service Revenue
$453,231
Investment Income
$11,293,261
Other Revenue
$-766,038
All Other Contributions
$11,558,535
Change in Net Assets
$5,968,129

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded23$529,295Transferred Value
Total Noncash Contributions23$529,295-

Audited Revenue Reconciliation

Revenue per Audited Statements
$29,697,672
Revenue Not Reported on Financial Statements
$-2,880,561
Revenue Not Reported on Form 990
$26,964,964
Other Revenue Adjustments
$-2,980,561
Total Revenue per Audited Statements
$56,662,636
Total Revenue per Form 990
$26,817,111
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$10,506,692
Other Expenses$10,342,290
Total Fundraising Expense$1,255,195
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,975,315$1,568,422$661,476$7,205,213
Depreciation Depletion$1,760,410$551,785$113,068$2,425,263
Fees for Services Other$1,680,002$278,650$59,098$2,017,750
Current Officers, Directors, Trustees, and Key Employees$220,672$1,554,035$76,748$1,851,455
Office Expenses$926,563$812,080$72,065$1,810,708
Occupancy$823,252$297,724$52,467$1,173,443
Interest$646,596$202,670$41,530$890,796
Information Technology$99,916$577,581$45,441$722,938
Other Employee Benefits$447,827$112,513$64,920$625,260
Payroll Taxes$201,008$346,840$53,753$601,601
Advertising$272,293$9,385$5,259$286,937
Insurance$220,363$33,745$6,827$260,935
Pension Plan Contributions-$223,163-$223,163
Fees for Services Accounting$9,804$103,123$630$113,557
Fees for Service Investment Mgmnt Fees-$100,000-$100,000
Fees for Services Legal$7,396$64,907$475$72,778
Conferences and Meetings$21,912$24,450$255$46,617
Travel$23,860$3,202$994$28,056
Royalties$5,907--$5,907
Other Expenses$-69,440$-17,393$-4,760$-91,593
Total Functional Expenses$12,739,302$6,854,485$1,255,195$20,848,982

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$23,729,543
Total Expenses per Form 990$20,848,982
Expenses per Audited Statements$20,748,982
Expenses Not Reported on Form 990$2,980,561
Expenses Not Reported on Financial Statements$100,000
International Activity

International Summary

Offices
0
Employees
0
Spending
$69,534,204

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas,Investments-00$65,648,308
Europe (including Iceland & Greenland) - Albania, Andorra, Austria, BelgiumInvestments-00$3,866,093
Europe (including Iceland & Greenland) - Albania, Andorra, Austria, BelgiumProgram ServicesConsultant00$12,597
Europe (including Iceland & Greenland) - Albania, Andorra, Austria, BelgiumProgram ServicesSoftware00$4,000
Europe (including Iceland & Greenland) - Albania, Andorra, Austria, BelgiumProgram ServicesArtist Fees00$1,959
Europe (including Iceland & Greenland) - Albania, Andorra, Austria, BelgiumProgram ServicesExhibition Loan Fees00$1,247
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$182,320
Fundraising Gross Income$17,000
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Corporate Art Award$341,147$17,000$28,717$-11,717
Total Events$341,147$17,000$28,717$-11,717
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Derivatives Mark to Market$2,390,668
Rental Deposits$158,525

Bond Issues

BondIssuerIssuedIssue PricePurpose
AIllinois Finance Authority2016-10-27$30,000,000Refinance illinois development authority revenue bonds series 1994

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$30,000,000$30,000,000--

Bond Financing Compliance

Form 8038-T filed
Yes
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

The following trustees have a family relationship 1) michael alper and helyn goldenberg, 2) king harris and john harris, 3) don kaul and leslie bluhm the following trustees have a business relationship 1) anne kaplan has business relationships with loise eisen, sally kovler, elizabeth lefkofsky and dia weil, 2) robert bellick and james gordon, and 3) michael canmann and nancy crown.

Form 990, Part VI, Section B, Line 11B

Review of the irs form 990 was delegated to the audit committee. After review, a draft copy of form 990 was emailed to all board members. After a 30 day review period, the form 990 is then filed electronically with the irs.

Form 990, Part VI, Section B, Line 12C

The museum maintains a conflict of interest policy which applies to all trustees, members of standing committees, as well as senior management and other designated members of staff. The policy requires that each person to whom the policy applies complete the annual disclosure statement to identify any business, financial or personal interest in matters relating to the museum. The policy forbids such individuals from voting on or using their personal influence in connection with such matters. In the event the museum does conduct business with such related party, the financial terms of those relationships are reported annually to the audit committee, whose members must be independent per the terms of the charter.

Form 990, Part VI, Section B, Line 15

The compensation committee annually reviews performance, goal achievement, peer data, surveys, etc., when setting the annual salary for the pritzker director/chief executive officer. The committee reviews salaries of senior management and also approves the annual allocation to the staff salary increase pool. The committee documents its findings in writing, and employees are not present when their compensation is set.

Form 990, Part VI, Section C, Line 19

Upon request, the museum provides the information.

Filing and Contact Details

Filer

Filer Name
Museum of Contemporary Art
EIN
36-6154098
Phone
3123973808
Address
220 EAST CHICAGO AVENUE, CHICAGO, IL 60611

Signing Officer

Name
Anne-marie Eischen
Title
Chief Financial Officer
Phone
3123973808
Signed
2022-03-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Madeleine Grynsztejn
Formed
1964
Legal Domicile
Il
Voting Board Members
69
Independent Board Members
68
Employees
258
Volunteers
0

Preparer

Firm
Plante & Moran Pllc
Address
10 S RIVERSIDE PLAZA 9TH FLOOR, CHICAGO, IL 60606
Preparer
David Lowenthal
Phone
3122071040
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in value of swap 1,238,469. Collection deaccessions 114,992. Collection acquisitions -336,283.

Impact of Covid-19

On march 11, 2020, the world health organization declared the outbreak of a respiratory disease caused by a new coronavirus a pandemic. First identified in late 2019 and now known as covid-19, the measures implemented to combat the outbreak have impacted global business operations. As a result of the pandemic, the museum closed its facilities to the public and non-essential staff on march 13, 2020. Revenues from operations primarily ceased during the first lockdown from march 13, 2020 and june 30, 2020. The second lockdown closed the museum again between november 16, 2020 and march 2, 2021. During both of these periods, expenses declined due to reduced operations.

Financial Statement Notes

PART III, LINE 1A:

In conformity with the practice commonly followed by most american art museums, the value of the museum's collection is not included in the financial statements. Contributions for the purchases of art objects, the proceeds from deaccessions of art and the cost of art objects purchased are reported as other changes in net assets in the statement of activities. The museum's policy is to maintain and continue to acquire significant works of contemporary art (principally 1945 to present). From time to time, objects may be sold in accordance with the museum's collection management policy. All proceeds realized from deaccessions are allocated to purchase other works of art. Deaccession of art in the amount of $114,992 and $29,878 was realized for the years ended june 30, 2021 and 2020, respectively.

PART III, LINE 4:

The collection is comprised of over 5,500 objects in all media created during the twentieth and twenty-first centuries. Through exhibitions, preservation and research, the collection supports the museum's mission to be innovative and a 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.

PART V, LINE 4:

The endowment funds are used to support the museum's operations, subject to a spending policy. Up to 5% of the average market value of assets over a 12 quarter period ending with the prior 12/31 is made available for annual draws.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in value of swaps 1,238,469. Collection accessions 114,992. Collection deaccessions -336,283.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Cost of goods sold -2,961,692. Rental expense -18,869.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Cost of goods sold 2,961,692. Rental expense 18,869.

Raw XML AppendixShowing 400 of 1,459 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0EXHIBITIONS: MCA EXHIBITIONS SEEK TO INTRODUCE AUDIENCES TO THE MOST IMPORTANT ART AND ARTISTS OF OUR TIME, WITH AN EMPHASIS ON FEATURING LOCAL ARTISTS. EXHIBITIONS ARE INTERWOVEN WITH OFFERINGS FROM LEARNING AND PERFORMANCE AND PUBLIC PRACTICE TO EXCITE, CHALLENGE, AND ILLUMINATE OUR VISITORS AND TO PROVIDE THEM WITH INSIGHT INTO THE CREATIVE PROCESS. THE MCA PRESENTED SEVERAL EXHIBITIONS DEALING WITH THE PANDEMIC AND THE HUMAN RESPONSE TO THE GLOBAL EVENT. THE LONG DREAM (NOVEMBER 7, 2020-MAY 2, 2021), AN EXHIBITION CONCEIVED AND EXECUTED AGAINST THE BACKDROP OF A GLOBAL PANDEMIC AND A RENEWED RECKONING OVER RACIAL JUSTICE. JUST CONNECT (JULY 17-NOVEMBER 8, 2020) WAS A COLLECTION-BASED SHOW CREATED IN RESPONSE TO THE PANDEMIC WITH SELECT WORKS THAT EXPLORE HOW WE CONNECT, BRINGING TOGETHER ARTWORKS FROM ARTISTS ACROSS GENERATIONS, NATIONALITIES, AND MEDIA. ALIEN VS. CITIZEN (JULY 17-NOVEMBER 16, 2020) CONSIDERED HOW AN INDIVIDUAL'S VALUE IS UNDERSTOOD IN RELATIONSHIP TO COMMUNITY. AS PART OF THE ASCENDANT ARTIST SERIES, WHICH IS FOCUSED ON GIVING ESTABLISHED ARTISTS THEIR FIRST SOLO MUSEUM EXHIBITION AND CATALOGUE, THE MCA FEATURED CAROLINA CAYCEDO, CHRISTINA QUARLES (MARCH 13, 2021-JANUARY 16, 2022). THIS YEAR THE CHICAGO WORKS SERIES FEATURED THE WORK OF DEBORAH STRATMAN (JULY 17-DECEMBER 6, 2020) AND OMAR VELZQUEZ (DECEMBER 26, 2020-JULY 18, 2021).
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Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 501(c)3 • $100M-$250M nonprofits