MUSEUM OF FINE ARTS (EIN 042103607) - Form 990 Financial Analysis & Trantor Score

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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

1870

Legal Domicile

Principal Officer

CATHERINE VANDENABEELE

Phone

6173693281

Tax Period

2023-07-01 to 2024-06-30

MUSEUM OF FINE ARTS, founded in 1870, is a major nonprofit in the Arts, Culture & Humanities sector that reported $157.7M in total revenue in fiscal year 2023. Revenue surged 58% from the prior year, signaling strong growth momentum. The organization ran a surplus of $27.8M, a strong 18% operating margin.

Mission

THE MUSEUM OF FINE ARTS HOUSES AND PRESERVES PREEMINENT COLLECTIONS AND ASPIRES TO SERVE A WIDE VARIETY OF PEOPLE THROUGH DIRECT ENCOUNTERS WITH WORKS OF ART IN ORDER TO ENCOURAGE INQUIRY AND TO HEIGHTEN PUBLIC UNDERSTANDING AND APPRECIATION OF THE VISUAL WORLD.

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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 (2023)

Revenue Breakdown

Contributions & Grants $76,285,128

Program Service Revenue $18,243,104

Investment Income $49,378,062

Other Revenue $13,773,872

TOTAL REVENUE $157,680,166

Expense Breakdown

Grants Paid $0

Salaries & Benefits $49,521,405

Fundraising Expenses $7,069,826

Program Expenses $79,444,234

Other Expenses $80,331,440

TOTAL EXPENSES $129,852,845

Year-over-Year Comparison

	2023	2022	Change
Revenue	$157,680,166	$99,573,924	+0.6%
Expenses	$129,852,845	$123,302,516	+0.1%
Net Income	$27,827,321	$-23,728,592	-2.2%

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

823

Volunteers

350

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

$3,605,286

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MATTHEW TEITELBAUM	ANN & GRAHAM GUND DIRECTOR	40.00	Officer	$1,037,098	$46,415	$1,083,513
CAMERAN MASON	CHIEF EXTERNAL RELATIONS	40.00	Officer	$445,100	$50,374	$495,474
ERIC WOODS	CHIEF OPERATING OFFICER	40.00	Officer	$446,806	$36,384	$483,190
CATHERINE VANDENABEELE	CHIEF FINANCIAL OFFICER	40.00	Officer	$382,212	$20,344	$402,556
CHRISTINA YU YU	CHIEF OF CURATORIAL AND CO	40.00	Officer	$263,267	$44,343	$307,610
EMILY BLUMENTHAL	CHIEF OF STAFF	40.00	Officer	$224,231	$38,238	$262,469
DEBRA LAKIND	SR DIR, IP & BUSINESS DEVE	40.00	Highest	$213,905	$42,439	$256,344
EDWARD SAYWELL	CHAIR, PRINTS AND DRAWINGS	40.00	Highest	$218,522	$35,782	$254,304
JANE O'REILLY-CORCORAN	DIR. OF HUMAN RESOURCES	40.00	Highest	$227,022	$27,213	$254,235
CHRISTOPHER FOX	DIR. OF TREASURY MANAGEMEN	40.00	Officer	$211,163	$39,811	$250,974
ELLEN J REYNOLDS	DIRECTOR OF DEVELOPMENT	40.00	Highest	$219,389	$20,364	$239,753
JONATHAN FREDERICK	SENIOR DIRECTOR, INFORMATION SYSTEMS & TECHNOLOGY	40.00	Highest	$203,846	$9,036	$212,882
DALIA LINSSEN	SENIOR DIRECTOR, ACADEMIC ENGAGEMENT AND RESEARCH	40.00	Officer	$137,625	$12,001	$149,626
ROBERT WORSTELL	INTERIM CHIEF OF LEARNING	40.00	Officer	$96,857	$7,529	$104,386
PIERRE TERJANIAN	CHIEF OF CURATORIAL AFFAIRS AND CONSERVATION	40.00	Officer	$48,646	$0	$48,646
MARIEL NOVAS	CHIEF OF LEARNING AND COMM	40.00	Officer	$16,842	$0	$16,842
CATHY E MINEHAN	ELECTED TRUSTEE - CHAIR	1.00	Officer Director	$0	$0	$0
MARC S PLONSKIER	PRESIDENT	1.00	Officer Director	$0	$0	$0
EMI M WINTERER	PRESIDENT-ELECT	1.00	Officer Director	$0	$0	$0
AZI DJAZANI	ELECTED TRUSTEE - CHAIR	1.00	Officer Director	$0	$0	$0
MICHELE COURTON BROWN	ELECTED TRUSTEE - CHAIR-ELECT	1.00	Officer Director	$0	$0	$0
SUSAN B WEATHERBIE	TREASURER	1.00	Officer Director	$0	$0	$0
PAUL G ALEXANDER	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
JILL AVERY	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
CARLOTTE NORD BERK	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
ELIZABETH CHANDLER	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
MONICA CHANDRA	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
HOWARD COX	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
PETER CREIGHTON	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
DAVID D CROLL	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
RONALD M DRUKER	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
THOMAS AJ FRANK	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
ABIGAIL ROSS GOODMAN	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
EDWARD E GREENE	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
JENNIFER HERMAN	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
BARBARA HOSTETTER	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
DAVID HOWSE	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
CLARISSA C HUNNEWELL	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
ELIZABETH L JOHNSON	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
PATRICIA KRAFT	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
LIZBETH KRUPP	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
YUCHUN LEE	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
CARL J MARTIGNETTI	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
LINDA A MASON	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
ROBERT NAGLE	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
AMY POORVU	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
ANTONIO PORRES	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
TOM SEEMAN	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
THERESA STONE	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
ROBERTA WEINER	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
XIAOHUA ZHANG	ELECTED TRUSTEE	1.00	Director	$0	$0	$0
CAROLYN OSTEEN	APPOINTED TRUSTEE - BOSTON ATHENAEUM	1.00	Director	$0	$0	$0
PRISCILLA H DOUGLAS	APPOINTED TRUSTEE - BOSTON PUBLIC LIBRARY	1.00	Director	$0	$0	$0
MARY SKIPPER	APPOINTED TRUSTEE - BOSTON PUBLIC SCHOOLS	1.00	Director	$0	$0	$0
KATHERINE N LAPP	APPOINTED TRUSTEE - HARVARD UNIVERSITY	1.00	Director	$0	$0	$0
MICHELLE WU	APPOINTED TRUSTEE - MAYOR OF BOSTON	1.00	Director	$0	$0	$0
MELISSA NOBLES	APPOINTED TRUSTEE - MIT	1.00	Director	$0	$0	$0
JAMES M GLASER	APPOINTED TRUSTEE - TUFTS UNIVERSITY	1.00	Director	$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
2025	No data	No data	No data	No data
2024	$157,680,166	$129,852,845	$1,464,063,580	$27,827,321
2023	$99,573,924	$123,302,516	$1,382,617,633	$-23,728,592
2022	$148,263,439	$134,496,363	$1,324,479,765	$13,767,076
2021	$137,057,905	$128,193,029	$1,431,187,770	$8,864,876
2020	$175,070,799	$122,422,275	$1,234,619,782	$52,648,524
2019	$177,299,579	$139,202,572	$1,174,889,792	$38,097,007
2018	$133,443,644	$117,023,890	$1,170,762,642	$16,419,754

MUSEUM OF FINE ARTS