WORCESTER ART MUSEUM (EIN 041988530) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1896

Legal Domicile

Principal Officer

MARK SPURIA

Phone

5087994406

Tax Period

2024-09-01 to 2025-08-31

WORCESTER ART MUSEUM, founded in 1896, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $22.3M in total revenue in fiscal year 2024. Revenue fell 44% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $5.9M, a strong 26% operating margin.

Mission

COLLECT THE MOST SIGNIFICANT WORKS OF ART AVAILABLE FOR THE BENEFIT OF ALL THE PEOPLE OF THE BROADER REGION.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $17,390,114

Program Service Revenue $1,777,093

Investment Income $3,092,962

Other Revenue $71,856

TOTAL REVENUE $22,332,025

Expense Breakdown

Grants Paid $111,319

Salaries & Benefits $8,253,520

Fundraising Expenses $1,159,827

Program Expenses $12,449,827

Other Expenses $8,092,212

TOTAL EXPENSES $16,457,051

Year-over-Year Comparison

	2024	2023	Change
Revenue	$22,332,025	$39,935,868	-0.4%
Expenses	$16,457,051	$14,377,908	+0.1%
Net Income	$5,874,974	$25,557,960	-0.8%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Governance

Voting Members

Independent Members

Employees

221

Volunteers

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

$555,501

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SARAH BERRY	TRUSTEE	2.00	Director	$0	$0	$0
MICHAEL HALE	TRUSTEE	2.00	Director	$0	$0	$0
JAMES C DONNELLY JR	TRUSTEE	2.00	Director	$0	$0	$0
DAVID JORDAN	TRUSTEE	2.00	Director	$0	$0	$0
MARY BETH LEONARD	CLERK	2.00	Director	$0	$0	$0
MALCOLM ROGERS	TRUSTEE	2.00	Director	$0	$0	$0
SUSAN M BASSICK	TRUSTEE	2.00	Director	$0	$0	$0
JENNIFER GLOWIK-ADAMS	TRUSTEE	2.00	Director	$0	$0	$0
ANNE-MARIE SOULLIERE	TRUSTEE	2.00	Director	$0	$0	$0
KENT DUR RUSSELL	PRESIDENT	2.00	Officer Director	$0	$0	$0
A MITRA MORGAN	TRUSTEE	2.00	Director	$0	$0	$0
KAREN M KEANE	TRUSTEE	2.00	Director	$0	$0	$0
DR SOHAIL MASOOD	TRUSTEE	2.00	Director	$0	$0	$0
THOMAS MICHIE	TRUSTEE	2.00	Director	$0	$0	$0
BARRY M MALONEY	TRUSTEE	2.00	Director	$0	$0	$0
CYNTHIA STRAUSS	TRUSTEE	2.00	Director	$0	$0	$0
GEORGE TETLER III	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
CHRISTINA VILLENA	TRUSTEE	2.00	Director	$0	$0	$0
JOHN MCCABE	ACTING TREASURER	2.00	Officer Director	$0	$0	$0
MICHAEL FOX	TRUSTEE	2.00	Director	$0	$0	$0
CARMEN VAZQUEZ	TRUSTEE	2.00	Director	$0	$0	$0
CARL D RAPP	TRUSTEE	2.00	Director	$0	$0	$0
MARK SPURIA	CHIEF FINANCIAL OFFICER	37.50	Officer	$155,533	$12,912	$168,445
MATTHIAS WASCHEK	EXECUTIVE DIRECTOR	37.50	Officer	$355,737	$31,319	$387,056
MARILLYN G EARLEY	CHIEF ADVANCEMENT OFFICER	37.50	Highest	$192,954	$25,542	$218,496

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	$22,332,025	$16,457,051	$198,478,434	$5,874,974
2024	$39,935,868	$14,377,908	$181,246,202	$25,557,960
2023	$15,255,766	$12,757,918	$158,424,796	$2,497,848
2022	$30,005,812	$11,932,604	$148,643,203	$18,073,208
2021	$12,612,883	$10,801,769	$149,637,696	$1,811,114
2020	$14,218,029	$10,943,570	$126,139,255	$3,274,459
2019	$12,094,221	$11,595,027	$118,315,915	$499,194
2018	$9,695,254	$11,907,771	$117,969,948	$-2,212,517

WORCESTER ART MUSEUM