FLORENCE GRISWOLD MUSEUM INC (EIN 066062157) - 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

1936

Legal Domicile

Principal Officer

JOSHUA TORRANCE

Phone

8604345542

Tax Period

2023-01-01 to 2023-12-31

FLORENCE GRISWOLD MUSEUM INC, founded in 1936, is a community nonprofit in the Arts, Culture & Humanities sector that reported $6.7M in total revenue in fiscal year 2023. Revenue fell 40% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $1.1M, a strong 17% operating margin.

Mission

TO PROMOTE THE UNDERSTANDING OF CONNECTICUT'S CONTRIBUTION TO AMERICAN ART AND HISTORY THROUGH PUBLIC EXHIBITIONS AND EDUCATIONAL PROGRAMS.

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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 $2,406,097

Program Service Revenue $442,610

Investment Income $3,832,929

Other Revenue $-6,555

TOTAL REVENUE $6,675,081

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,758,108

Fundraising Expenses $705,991

Program Expenses $2,908,584

Other Expenses $3,734,821

TOTAL EXPENSES $5,560,429

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,675,081	$11,205,087	-0.4%
Expenses	$5,560,429	$4,393,669	+0.3%
Net Income	$1,114,652	$6,811,418	-0.8%

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

Volunteers

166

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

$266,412

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DEBORAH MOORE	CHAIR	0.50	Officer Director	$0	$0	$0
BARBARA HARMS	VICE CHAIR	0.50	Director	$0	$0	$0
JANE RAPPORT	BOARD SECRETARY	0.50	Officer Director	$0	$0	$0
JOHN E NOYES	BOARD MEMBER (THRU 12/23)	0.50	Officer Director	$0	$0	$0
KAY KNIGHT CLARKE	TREASURER	0.50	Officer Director	$0	$0	$0
SUSAN CARTLEDGE	BOARD MEMBER	0.50	Director	$0	$0	$0
JONATHAN COHEN	BOARD MEMBER	0.50	Director	$0	$0	$0
CARLA D'ARISTA	BOARD MEMBER	0.50	Director	$0	$0	$0
DIANNE EMBREE	BOARD MEMBER	0.50	Director	$0	$0	$0
PATRICK GINGRAS	BOARD MEMBER	0.50	Director	$0	$0	$0
PAUL HOLT	BOARD MEMBER	0.50	Officer Director	$0	$0	$0
VALERIE KOIF	BOARD MEMBER	0.50	Director	$0	$0	$0
JAC LAHAV	BOARD MEMBER	0.50	Director	$0	$0	$0
SALLY LAWRENCE	BOARD MEMBER	0.50	Director	$0	$0	$0
MARYBETH MARX	BOARD MEMBER	0.50	Director	$0	$0	$0
KEVIN MCGLINCHEY	BOARD MEMBER	0.50	Director	$0	$0	$0
TIMOTHY MCLAUGHLIN	BOARD MEMBER	0.50	Director	$0	$0	$0
LEE PRITCHARD	BOARD MEMBER	0.50	Director	$0	$0	$0
BARBARA SMITH	BOARD MEMBER	0.50	Director	$0	$0	$0
KATIE TUTTLE	BOARD MEMBER	0.50	Director	$0	$0	$0
ROB WILBER	BOARD MEMBER	0.50	Director	$0	$0	$0
MARY ANN RUMNEY BESIER	BOARD MEMBER	0.50	Director	$0	$0	$0
CHARLES T CLARK	BOARD MEMBER	0.50	Director	$0	$0	$0
JEFFREY W COOLEY	BOARD MEMBER	0.50	Director	$0	$0	$0
DAVID W DANGREMOND	BOARD MEMBER	0.50	Director	$0	$0	$0
FRANK W TED HAMILTON III	BOARD MEMBER	0.50	Director	$0	$0	$0
CAROLYN WAKEMAN	BOARD MEMBER	0.50	Director	$0	$0	$0
ROBERT D WEBSTER	BOARD MEMBER (THRU 11/23)	0.50	Director	$0	$0	$0
RICHARD MILLARD	BOARD MEMBER (THRU 03/23)	0.50	Director	$0	$0	$0
BARRY ADAMS	DIRECTOR OF FINANCE	40.00	Officer	$84,902	$8,866	$93,768
JOSHUA CAMPBELL TORRANCE	EXECUTIVE DIRECTOR	40.00	Officer	$164,423	$8,221	$172,644
DAVID RAU	DIRECTOR OF EDUCATION & OU	40.00	Highest	$117,239	$16,590	$133,829
MATT STREKEL	DIRECTOR OF DEVELOPMENT	40.00	Highest	$118,189	$13,367	$131,556

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	$6,675,081	$5,560,429	$35,924,284	$1,114,652
2022	$11,205,087	$4,393,669	$34,236,610	$6,811,418
2021	$2,875,061	$3,334,844	$32,307,778	$-459,783
2020	$2,424,821	$2,923,615	$30,065,446	$-498,794
2019	$2,892,800	$3,331,919	$28,885,509	$-439,119
2018	$2,798,432	$3,043,806	$28,012,784	$-245,374

FLORENCE GRISWOLD MUSEUM INC