CARRIAGE MUSEUM OF AMERICA INC

EIN: 010356732 501(c)(3)

LEXINGTON, KY

Total Revenue
$66,415
Total Expenses
$387,517
Total Assets
$977,192
Net Assets
$972,992
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1978
Legal Domicile
KY
Principal Officer
JOHN SOWLES
Phone
8592592933
Tax Period
2023-01-01 to 2023-12-31

CARRIAGE MUSEUM OF AMERICA INC, founded in 1978, is a micro nonprofit that reported $66K in total revenue in fiscal year 2023. Revenue fell 38% from the prior year — a significant decline worth monitoring. Expenses of $388K exceeded revenue, resulting in a 483% operating deficit.

Mission

THE MUSEUM IS A LIBRARY THAT SERVES AS A SOURCE OF HISTORICALLY ACCURATE TECHNICAL INFORMATION ON ANIMAL-DRAWN VEHICLES AND RELATED SUBJECTS. IT IS THE ONLY FULL TIME LIBRARY DEDICATED EXCLUSIVELY TO THE CARRIAGE INDUSTRY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,400
Program Service Revenue $0
Investment Income $61,752
Other Revenue $2,263
TOTAL REVENUE $66,415

Expense Breakdown

Grants Paid $322,583
Salaries & Benefits $16,056
Fundraising Expenses $0
Program Expenses $387,517
Other Expenses $48,878
TOTAL EXPENSES $387,517

Year-over-Year Comparison

2023 2022 Change
Revenue $66,415 $106,911 -0.4%
Expenses $387,517 $72,939 +4.3%
Net Income $-321,102 $33,972 -10.5%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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Liquidity & Cash Position

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Governance

Voting Members
8
Independent Members
8
Employees
1
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$0
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SALLY ARMSTRONG TRUSTEE N/A
Director
$0 $0 $0
GLORIA AUSTIN TRUSTEE N/A
Director
$0 $0 $0
TOM BURGESS TRUSTEE N/A
Director
$0 $0 $0
RAY CASELLA TRUSTEE N/A
Director
$0 $0 $0
STEWART MORRIS JR TRUSTEE N/A
Director
$0 $0 $0
HOWARD KIETZKE TRUSTEE N/A
Director
$0 $0 $0
HOLLY PULSIFER TRUSTEE N/A
Director
$0 $0 $0
KEN WHEELING TRUSTEE N/A
Director
$0 $0 $0
DAN BUSSEY SECRETARY 1.00
Officer
$0 $0 $0
JACK DAY CHAIRMAN 1.00
Officer
$0 $0 $0
DALE W DEHAAN TREASURER 1.00
Officer
$0 $0 $0
JOHN SOWLES PRESIDENT 1.00
Officer
$0 $0 $0
HARVEY WALLER VICE PRESIDE 1.00
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $66,415 $387,517 $977,192 $-321,102
2022 $106,911 $72,939 $1,276,138 $33,972
2021 $56,302 $82,340 $1,537,659 $-26,038
2020 $57,604 $64,060 $1,476,492 $-6,456
2019 $343,806 $54,984 $1,432,367 $288,822
2018 $62,289 $51,100 $1,079,854 $11,189
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