WHITNEY MUSEUM OF AMERICAN 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

1936

Legal Domicile

Principal Officer

SCOTT ROTHKOPF

Phone

2125703600

Tax Period

2023-07-01 to 2024-06-30

WHITNEY MUSEUM OF AMERICAN ART, founded in 1936, is a major nonprofit in the Arts, Culture & Humanities sector that reported $116.7M in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion. The organization ran a surplus of $24.8M, a strong 21% operating margin.

Mission

THE WHITNEY SEEKS TO BE THE DEFINING MUSEUM OF 20TH AND 21ST CENTURY AMERICAN ART. THE MUSEUM COLLECTS, EXHIBITS, PRESERVES, RESEARCHES AND INTERPRETS ART OF THE U.S. IN THE BROADEST GLOBAL, HISTORICAL AND INTERDISCIPLINARY CONTEXTS. (SEE SCHEDULE O)

Program Service Accomplishments

Program 1

Expenses: $42,700,000 Revenue: $8,216,000

EXHIBITIONS AND PERMANENT COLLECTION IN FY24, THE WHITNEY MUSEUM OF AMERICAN ART PRESENTED 14 EXHIBITIONS. THESE INCLUDED: THE WHITNEY'S COLLECTION: SELECTIONS FROM 1900 TO 1965 (JUNE 28, 2019 -...

EXHIBITIONS AND PERMANENT COLLECTION IN FY24, THE WHITNEY MUSEUM OF AMERICAN ART PRESENTED 14 EXHIBITIONS. THESE INCLUDED: THE WHITNEY'S COLLECTION: SELECTIONS FROM 1900 TO 1965 (JUNE 28, 2019 - PRESENT; ILANA SAVDIE: RADICAL CONTRACTIONS (JULY 14, 2023 - SEPTEMBER 5, 2023); TRUST ME (AUGUST 19, 2023 - FEBRUARY 25, 2024); RUTH ASAWA THROUGH LINE (SEPTEMBER 16, 2023 - JANUARY 1, 2024); HENRY TAYLOR: B SIDE (OCTOBER 4, 2023 - JANUARY 28, 2024); FRAGMENTS OF A FAITH FORGOTTEN THE ART OF HARRY SMITH (OCTOBER 2, 2023 - JANUARY 28, 2024); NATALIE BALL: BILWI NAATS GA'NIIPCI (NOVEMBER 17, 2023 - FEBRUARY 19, 2024); (SEE SCHEDULE O)

Program 2

Expenses: $5,965,000 Revenue: $173,000

CURATORIAL AND RELATED SUPPORTIN FY24, THE WHITNEY MUSEUM OF AMERICAN ART CONTINUED ITS ONGOING STUDY INTO THE MORE THAN 26,000 OBJECTS IN THE COLLECTION BY OVER 6,000 ARTISTS. THE WHITNEY COMPLETED ITS WORK ON A MULTI-YEAR, CROSS-DEPARTMENTAL, AND CROSS-INSTITUTIONAL RESEARCH PROJECT TO UNDERSTAND THE ORIGIN, SCOPE, EVOLUTION, USE, AND IMPACT OF THE MUSEUM'S COLLECTION. THE PROJECT, WHICH CULMINATED IN THE WHITNEY'S FIRST EVER COLLECTION STRATEGIC PLAN, WILL OFFER RECOMMENDATIONS, GOALS, AND OBJECTIVES FOR THE FUTURE OF THE WHITNEY'S COLLECTION THAT IS INFORMED BY THE INSTITUTION'S HISTORY AND ENRICHED BY ITS DESIRE TO MAKE ITS HOLDINGS USEFUL, DYNAMIC, (SEE SCHEDULE O)

Program 3

Expenses: $5,818,000 Revenue: $0

EDUCATION PROGRAMS THE WHITNEY EDUCATION DEPARTMENT SERVED A TOTAL OF 75,253 VISITORS IN PERSON AND ONLINE THROUGH SCHOOL, YOUTH, FAMILY, PUBLIC, AND ACCESS AND COMMUNITY PROGRAMS. AN ADDITIONAL...

EDUCATION PROGRAMS THE WHITNEY EDUCATION DEPARTMENT SERVED A TOTAL OF 75,253 VISITORS IN PERSON AND ONLINE THROUGH SCHOOL, YOUTH, FAMILY, PUBLIC, AND ACCESS AND COMMUNITY PROGRAMS. AN ADDITIONAL 80,199 ASYNCHRONOUS USERS ENGAGED DIGITALLY WITH INTERPRETIVE CONTENT SUCH AS AUDIO GUIDES, RECORDED VIDEOS OF PROGRAMS ON YOUTUBE AND PODCASTS. A TOTAL OF 13,970 OF THESE IN PERSON AND ONLINE VISITORS WERE K-12 STUDENTS. EDUCATION STAFF WORKED WITHIN AND ACROSS PROGRAM AREAS ON ZOOM TO PRESENT DYNAMIC PROGRAMMING THAT EXPLORED CRITICAL QUESTIONS ABOUT AMERICAN ART, CULTURE AND SOCIETY. THE SCHOOL PROGRAM TEAM COMPLETED 134 ONLINE LESSONS AND (SEE SCHEDULE O)

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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 $54,217,000

Program Service Revenue $8,389,000

Investment Income $49,663,000

Other Revenue $4,471,000

TOTAL REVENUE $116,740,000

Expense Breakdown

Grants Paid $526,000

Salaries & Benefits $44,749,000

Fundraising Expenses $3,702,000

Program Expenses $56,945,000

Other Expenses $46,624,000

TOTAL EXPENSES $91,899,000

Year-over-Year Comparison

	2023	2022	Change
Revenue	$116,740,000	$100,886,000	+0.2%
Expenses	$91,899,000	$86,708,000	+0.1%
Net Income	$24,841,000	$14,178,000	+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

511

Volunteers

116

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

$5,424,148

Total Directors

$3,728,975

Key Employees

$392,400

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ADAM D WEINBERG	ALICE PRATT BROWN DIR.(THRU 10/2023)	35.00	Officer Director	$2,888,922	$22,875	$2,911,797
SCOTT ROTHKOPF	ALICE PRATT BROWN DIRECTOR	35.00	Officer Director	$785,337	$31,841	$817,178
FERN KAYE TESSLER	BOARD PRESIDENT	1.00	Officer Director	$0	$0	$0
RICHARD M DEMARTINI	CHAIRMAN	1.00	Officer Director	$0	$0	$0
ROBERT J HURST	CO-CHAIR OF EXECUTIVE COMMITTEE	1.00	Officer Director	$0	$0	$0
MIYOUNG LEE	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
NANCY POSES	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
PAUL C SCHORR IV	TREASURER/TRUSTEE	1.00	Officer Director	$0	$0	$0
ANNE-CECILIE ENGELL SPEYER	CO-CHAIR OF EXECUTIVE COMMITTEE	1.00	Officer Director	$0	$0	$0
GAURAV K KAPADIA	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
JULIE OSTROVER	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
SCOTT RESNICK	TRUSTEE	1.00	Officer Director	$0	$0	$0
ROBERT ROSENKRANZ	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
BENNETT GOODMAN	TRUSTEE	1.00	Officer Director	$0	$0	$0
LAURIE M TISCH	SECRETARY/TRUSTEE	1.00	Officer Director	$0	$0	$0
JUDY HART ANGELO	TRUSTEE	1.00	Director	$0	$0	$0
PAUL ARNHOLD	TRUSTEE	1.00	Director	$0	$0	$0
JILL BIKOFF	TRUSTEE	1.00	Director	$0	$0	$0
LESLIE BLUHM	TRUSTEE	1.00	Director	$0	$0	$0
NEIL G BLUHM	TRUSTEE	1.00	Director	$0	$0	$0
DAVID CANCEL	TRUSTEE	1.00	Director	$0	$0	$0
DAVID CAREY	TRUSTEE	1.00	Director	$0	$0	$0
JOANNE LEONHARDT CASSULLO	TRUSTEE	1.00	Director	$0	$0	$0
HENRY CORNELL	TRUSTEE (THRU 12/2023)	1.00	Director	$0	$0	$0
NANCY CARRINGTON CROWN	TRUSTEE	1.00	Director	$0	$0	$0
PAMELLA G DEVOS	TRUSTEE	1.00	Director	$0	$0	$0
BETH RUDIN DEWOODY	TRUSTEE	1.00	Director	$0	$0	$0
FIONA IRVING DONOVAN	TRUSTEE (THRU 05/2024)	1.00	Director	$0	$0	$0
FAIRFAX N DORN	TRUSTEE	1.00	Director	$0	$0	$0
LISE EVANS	TRUSTEE	1.00	Director	$0	$0	$0
VICTOR F GANZI	TRUSTEE	1.00	Director	$0	$0	$0
HENRY LOUIS GATES JR	TRUSTEE	1.00	Director	$0	$0	$0
KATJA GOLDMAN	TRUSTEE	1.00	Director	$0	$0	$0
SUSAN K HESS	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL E KASSAN EX OFFICO	TRUSTEE	1.00	Director	$0	$0	$0
NEAL K KATYAL	TRUSTEE	1.00	Director	$0	$0	$0
CLAUDIA LAVIADA	TRUSTEE	1.00	Director	$0	$0	$0
JONATHAN O LEE	TRUSTEE	1.00	Director	$0	$0	$0
RAYMOND J MCGUIRE	TRUSTEE	1.00	Director	$0	$0	$0
JULIE MEHRETU	TRUSTEE	1.00	Director	$0	$0	$0
ERIC L MOTLEY	TRUSTEE (THRU 05/2024)	1.00	Director	$0	$0	$0
BROOKE GARBER NEIDICH	TRUSTEE	1.00	Director	$0	$0	$0
JOHN C PHELAN	TRUSTEE	1.00	Director	$0	$0	$0
JEN RUBIO	TRUSTEE	1.00	Director	$0	$0	$0
MARY E BUCKSBAUM SCANLAN	TRUSTEE (THRU 05/2024)	1.00	Director	$0	$0	$0
RICHARD D SEGAL	TRUSTEE (THRU 05/2024)	1.00	Director	$0	$0	$0
JONATHAN S SOBEL	TRUSTEE (THRU 05/2024)	1.00	Director	$0	$0	$0
THOMAS E TUFT	TRUSTEE	1.00	Director	$0	$0	$0
DAVID W ZALAZNICK	TRUSTEE	1.00	Director	$0	$0	$0
STEPHANIE MARCH	TRUSTEE (AS OF 03/2024)	1.00	Director	$0	$0	$0
KU-LING YURMAN	TRUSTEE (AS OF 03/2024)	1.00	Director	$0	$0	$0
MARCIA DUNN	TRUSTEE (AS OF 05/2024)	1.00	Director	$0	$0	$0
PAMELA BESNARD	CHIEF ADVANCEMENT OFFICER	35.00	Officer	$404,998	$40,077	$445,075
AMY ROTH	CO-CHIEF OPERATING OFFICER	35.00	Officer	$411,184	$49,139	$460,323
IDEHEN ARUEDE	DEPUTY DIRECTOR	35.00	Officer	$415,782	$40,077	$455,859
NICHOLAS S HOLMES	GENERAL COUNSEL/ASSISTANT SECRETARY	35.00	Officer	$279,105	$54,811	$333,916
CHRISTY L PUTNAM - ASSO DIR	EXHIBITIONS & COLLECTIONS (THRU 7/23)	35.00	Key Emp	$156,480	$14,323	$170,803
MAURA HEFFNER	CHIEF EXHIBITIONS & COLLECTIONS OFF	35.00	Key Emp	$181,087	$40,510	$221,597
EUNICE LEE	DIR., STRG. PARTNERSHIPS & EVENTS	35.00	Highest	$233,406	$27,362	$260,768
MARILOU AQUINO	CHIEF PHILANTHROPIC OFFICER	35.00	Highest	$245,457	$45,727	$291,184
BRIDGET MENDOZA	CHIEF INFORMATION OFFICER	35.00	Highest	$219,582	$43,234	$262,816
ANGELA RUBIN	CHIEF COMMS AND CONTENT OFFICER	35.00	Highest	$293,233	$27,789	$321,022
JENNIFER LEVENTHAL	CHIEF OF STAFF (THRU 12/2023)	35.00	Highest	$220,787	$23,348	$244,135

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	$116,740,000	$91,899,000	$1,017,309,000	$24,841,000
2023	$100,886,000	$86,708,000	$972,809,000	$14,178,000
2022	$110,055,900	$77,477,900	$925,433,000	$32,578,000
2021	$67,707,000	$115,365,000	$1,002,954,000	$-47,658,000
2020	$113,143,000	$82,192,000	$937,771,000	$30,951,000
2019	$94,980,000	$89,381,000	$907,108,000	$5,599,000
2018	$85,222,000	$81,317,000	$899,192,000	$3,905,000