Portland Museum of Art

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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

1882

Legal Domicile

Principal Officer

Mark HC Bessire

Phone

2077756148

Tax Period

2024-02-01 to 2025-01-31

Portland Museum of Art, founded in 1882, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $14.6M in total revenue in fiscal year 2024. Revenue decreased 5% compared to the prior year. The organization ran a surplus of $2.7M, a strong 19% operating margin.

Mission

Art for All. The Portland Museum of Art seeks to create an inclusive space that champions open expression and makes art accessible to all.

Program Service Accomplishments

Program 1

Expenses: $1,748,991 Revenue: $448,520

Educational Programs: Create outstanding educational programs and collection-based activities to inspire and enrich the lives of diverse audiences and serve as a vital cultural center for the city...

Educational Programs: Create outstanding educational programs and collection-based activities to inspire and enrich the lives of diverse audiences and serve as a vital cultural center for the city and region (63,086 participants in 2024).

Program 2

Expenses: $6,084,926 Revenue: $648,132

Exhibitions and Collections: Originate outstanding exhibitions from PMA's permanent collection and through borrowed works of art. Present traveling exhibitions that support and extend PMA's mission. Preserve, document, and interpret over 19,000 objects in the collection and five architectural landmarks (127,641 visitors in 2024).

Program 3

Expenses: $591,920

Collection Items Purchased: 42 works of art were purchased for PMA's collection in 2024, providing new opportunities for visitors and the community to experience original work.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $8,133,829

Program Service Revenue $1,096,652

Investment Income $5,525,364

Other Revenue $-178,053

TOTAL REVENUE $14,577,792

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,722,539

Fundraising Expenses $2,691,508

Program Expenses $8,425,837

Other Expenses $5,112,084

TOTAL EXPENSES $11,834,623

Year-over-Year Comparison

	2024	2023	Change
Revenue	$14,577,792	$15,400,222	-0.1%
Expenses	$11,834,623	$13,368,776	-0.1%
Net Income	$2,743,169	$2,031,446	+0.4%

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

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

133

Volunteers

104

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

$913,897

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Erik K Hayward	President	10.00	Officer Director	$0	$0	$0
Eileen T Gillespie	Chair	10.00	Officer Director	$0	$0	$0
Clayton Spencer	Vice President	10.00	Officer Director	$0	$0	$0
Mark J Morrissette	Treasurer	10.00	Officer Director	$0	$0	$0
Kyo Bannai	Secretary	10.00	Officer Director	$0	$0	$0
Elizabeth T McCandless	Trustee/Past President	3.00	Officer Director	$0	$0	$0
Katherine MB Berger	Trustee	3.00	Director	$0	$0	$0
Kenneth A Blaschke	Trustee	3.00	Director	$0	$0	$0
Maury Barondes Bohan	Trustee	3.00	Director	$0	$0	$0
Edwin Cahill	Trustee	3.00	Director	$0	$0	$0
Paige A Carter	Trustee	3.00	Director	$0	$0	$0
Tae Chong	Trustee	3.00	Director	$0	$0	$0
Lila Hunt Davies	Trustee	3.00	Director	$0	$0	$0
Cyrus Y Hagge	Trustee	3.00	Director	$0	$0	$0
Jocelyn R Handy	Trustee	3.00	Director	$0	$0	$0
Sharyn M Howell	Trustee	3.00	Director	$0	$0	$0
Elizabeth A Jabar	Trustee	3.00	Director	$0	$0	$0
Susie Konkel	Trustee	3.00	Director	$0	$0	$0
Bree A LaCasse	Trustee	3.00	Director	$0	$0	$0
Judy Glickman Lauder	Trustee	3.00	Director	$0	$0	$0
Leeann M Leahy	Trustee	3.00	Director	$0	$0	$0
Andy Lilienthal	Trustee	3.00	Director	$0	$0	$0
Dimitri M Michaud	Trustee	3.00	Director	$0	$0	$0
Marcia Minter	Trustee	3.00	Director	$0	$0	$0
Rodney D Moore	Trustee	3.00	Director	$0	$0	$0
Jane A Parker	Trustee	3.00	Director	$0	$0	$0
Christine F Petra	Trustee	3.00	Director	$0	$0	$0
Theresa Secord	Trustee	3.00	Director	$0	$0	$0
Jack Soley	Trustee	3.00	Director	$0	$0	$0
Stewart Strawbridge	Trustee	3.00	Director	$0	$0	$0
Troy Trejo	Trustee	3.00	Director	$0	$0	$0
Joan Carpenter Troccoli	Trustee	3.00	Director	$0	$0	$0
Kristin Kellogg Valdmanis	Trustee	3.00	Director	$0	$0	$0
Karen B Watson	Trustee	3.00	Director	$0	$0	$0
Amy H Woodhouse	Trustee	3.00	Director	$0	$0	$0
Mark Bessire	Executive Director	40.00	Officer	$348,127	$72,767	$420,894
Elizabeth Jones	Sr. Deputy Director/COO	40.00	Officer	$255,631	$17,760	$273,391
Andrew Smaha	Chief Financial Officer	40.00	Officer	$192,920	$26,692	$219,612
Shalini Le Gall	Chief Curator	40.00	Highest	$199,747	$30,678	$230,425
Graeme Kennedy	Past Creative Director/Dir. of PR	40.00	Highest	$115,170	$1,880	$117,050
Alyssa Levesque	Director of HR	40.00	Highest	$113,997	$17,665	$131,662
Ashleigh McKown	Director of Philanthropy	40.00	Highest	$102,505	$33,584	$136,089
Lane Brenner	Director of Major Gifts	40.00	Highest	$100,821	$13,485	$114,306

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
2025	$14,577,792	$11,834,623	$96,084,807	$2,743,169
2024	$15,400,222	$13,368,776	$94,377,270	$2,031,446
2023	$21,796,721	$10,546,501	$88,965,309	$11,250,220
2022	$14,943,735	$8,310,425	$80,943,872	$6,633,310
2021	$10,432,428	$8,044,448	$75,826,769	$2,387,980
2020	$13,592,059	$7,991,938	$68,618,270	$5,600,121
2019	$12,453,257	$7,214,812	$61,734,930	$5,238,445