THE STUDIO MUSEUM IN HARLEM (EIN 132590805) - 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

1967

Legal Domicile

Principal Officer

THELMA GOLDEN

Phone

2128644500

Tax Period

2024-07-01 to 2025-06-30

THE STUDIO MUSEUM IN HARLEM, founded in 1967, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $61.7M in total revenue in fiscal year 2024. Revenue surged 42% from the prior year, signaling strong growth momentum. The organization ran a surplus of $42.9M, a strong 69% operating margin.

Mission

THE NEXUS FOR ARTISTS OF AFRICAN DESCENT, LOCALLY, NATIONALLY, AND INTERNATIONALLY, AND FOR WORK THAT HAS BEEN INSPIRED AND INFLUENCED BY BLACK CULTURE.

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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 $58,723,199

Program Service Revenue $24,620

Investment Income $2,006,721

Other Revenue $995,297

TOTAL REVENUE $61,749,837

Expense Breakdown

Grants Paid $118,295

Salaries & Benefits $8,985,080

Fundraising Expenses $2,774,139

Program Expenses $12,226,639

Other Expenses $9,672,010

TOTAL EXPENSES $18,895,385

Year-over-Year Comparison

	2024	2023	Change
Revenue	$61,749,837	$43,385,519	+0.4%
Expenses	$18,895,385	$17,603,871	+0.1%
Net Income	$42,854,452	$25,781,648	+0.7%

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

107

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

$1,290,837

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RAYMOND J MCGUIRE	CHAIRMAN	2.00	Officer Director	$0	$0	$0
KATHRYN C CHENAULT	VICE-CHAIR	2.00	Officer Director	$0	$0	$0
DAMIEN R DWIN	VICE-CHAIR	2.00	Officer Director	$0	$0	$0
CAROL SUTTON LEWIS	VICE-CHAIR	2.00	Officer Director	$0	$0	$0
RODNEY M MILLER SR	TREASURER	2.00	Officer Director	$0	$0	$0
JACQUELINE L BRADLEY	SECRETARY	2.00	Officer Director	$0	$0	$0
NICHOLAS ANTOINE	TRUSTEE	1.00	Director	$0	$0	$0
LAURA DAY BAKER	TRUSTEE	1.00	Director	$0	$0	$0
DR ANITA BLANCHARD	TRUSTEE	1.00	Director	$0	$0	$0
PETER A BOYCE II	TRUSTEE	1.00	Director	$0	$0	$0
JOAN S DAVIDSON	TRUSTEE	1.00	Director	$0	$0	$0
GORDON J DAVIS ESQ	TRUSTEE	2.00	Director	$0	$0	$0
DR HENRY LOUIS GATES JR	TRUSTEE	1.00	Director	$0	$0	$0
SANDRA GRYMES	TRUSTEE	1.00	Director	$0	$0	$0
NATASHA A HOLIDAY	TRUSTEE	1.00	Director	$0	$0	$0
ARTHUR J HUMPHREY JR	TRUSTEE	1.00	Director	$0	$0	$0
RUSS HUTCHINSON	TRUSTEE	1.00	Director	$0	$0	$0
CC MELVIN IKE	TRUSTEE	1.00	Director	$0	$0	$0
GEORGE L KNOX	TRUSTEE	1.00	Director	$0	$0	$0
DR MICHAEL L LOMAX	TRUSTEE	1.00	Director	$0	$0	$0
BERNARD I LUMPKIN	TRUSTEE	1.00	Director	$0	$0	$0
ANDREW MARKS	TRUSTEE	1.00	Director	$0	$0	$0
SUZANNE MCFAYDEN	TRUSTEE	1.00	Director	$0	$0	$0
DR AMELIA OGUNLESI	TRUSTEE	2.00	Director	$0	$0	$0
HOLLY PETERSON	TRUSTEE	2.00	Director	$0	$0	$0
VICTORIA ROGERS	TRUSTEE	1.00	Director	$0	$0	$0
TROY TAYLOR	TRUSTEE	1.00	Director	$0	$0	$0
ANN G TENENBAUM	TRUSTEE	1.00	Director	$0	$0	$0
REGINALD VAN LEE	TRUSTEE	1.00	Director	$0	$0	$0
LISE WILKS	TRUSTEE	1.00	Director	$0	$0	$0
DANIELLE COOPER WILLIAMS	TRUSTEE	1.00	Director	$0	$0	$0
THELMA GOLDEN	DIRECTOR AND CHIEF CURATOR	40.00	Officer	$336,543	$17,096	$353,639
CHAKSHU PATEL	CHIEF ADVANCEMENT OFFICER	40.00	Officer	$290,601	$13,662	$304,263
DEBRA WHITE GENERAL	COUNSEL AND CHIEF OPERATING OFFICER	40.00	Officer	$280,392	$14,538	$294,930
TERRENCE PHEARSE II	CHIEF OF STAFF	40.00	Officer	$165,181	$34,248	$199,429
NATASHA LOGAN	CHIEF PROGRAM OFFICER	40.00	Officer	$125,987	$12,589	$138,576
TONY WONG	SENIOR DIRECTOR OF FINANCE	40.00	Highest	$194,734	$12,686	$207,420
FEDERICO MORROBEL	DIRECTOR OF BUILDING OPERATIONS	40.00	Highest	$189,481	$1,230	$190,711
ISATA YANSANEH	DIRECTOR OF MARKETING	40.00	Highest	$181,619	$14,631	$196,250
JODI HANEL FERNANDEZ	DIRECTOR OF DEVELOPMENT	40.00	Highest	$175,847	$38,527	$214,374
SHANTA LAWSON SENIOR	DIRECTOR OF LEARNING AND ENGAGEMENT	40.00	Highest	$174,777	$3,444	$178,221

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	$61,749,837	$18,895,385	$327,699,597	$42,854,452
2024	No data	No data	No data	No data
2023	$47,220,609	$16,164,729	$254,906,032	$31,055,880
2022	$59,914,680	$13,414,272	$196,634,585	$46,500,408
2021	$40,471,884	$11,496,543	$153,708,532	$28,975,341
2020	$15,253,617	$12,167,677	$118,554,510	$3,085,940
2020	$14,931,743	$10,615,641	$115,376,323	$4,316,102
2019	$17,946,629	$12,454,332	$109,197,151	$5,492,297
2019	$17,901,495	$10,235,829	$112,058,746	$7,665,666
2018	$61,730,334	$9,173,832	$103,832,196	$52,556,502

THE STUDIO MUSEUM IN HARLEM