FRIENDS OF THE MUSEES DES ARTS DEC… - Form 990 Financial Data

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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

1999

Legal Domicile

Principal Officer

MARGARET BULT

Phone

2126281016

Tax Period

2023-07-01 to 2024-06-30

FRIENDS OF THE MUSEES DES ARTS DECORATIFS INC, founded in 1999, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.1M in total revenue in fiscal year 2023. Revenue fell 50% from the prior year — a significant decline worth monitoring. Expenses of $3.2M exceeded revenue, resulting in a 177% operating deficit.

Mission

THE FRIENDS MISSION IS TO FOSTER THE APPRECIATION AND CONSERVATION OF THE DECORATIVE ARTS. IN CARRYING OUT ITS MISSION, THE FRIENDS SUPPORTS THE PRESERVATION, RESTORATION AND EXHIBITION OF, AND EDUCATIONAL PROGRAMS REGARDING IMPORTANT EXAMPLES OF INTERIOR DESIGN, FURNITURE, TEXTILES, FASHION, GRAPHIC ARTS, DECORATIVE PAINTING, ART GLASS, JEWELRY, PORCELAIN AND OTHER DECORATIVE AND USEFUL OBJECTS, INCLUDING BY SUPPORTING THE ACTIVITIES AND PROGRAMS OF LES ARTS DECORATIFS.

Program Service Accomplishments

Program 1

Expenses: $3,003,518

GRANTS PROVIDED DURING THE YEAR TO THE MUSEE DES ARTS DECORATIFS (PARIS, FRANCE) IN ORDER TO FUND THE FOLLOWING PROJECTS:1. $1,643,738 PROVIDED BY A DONOR FOUNDATION FOR THE CONTINUING SUPPORT OF THE RESTORATION OF THE FIFTH FLOOR READING ROOM.2. $592,630 CONTINUING SUPPORT OF THE IRIS VAN HERPEN EXHIBITION - SCULPTING THE SENSES, 11/29/23 - 4/28/24. INCLUDES FUNDING FOR THE EXHIBITION SCENOGRAPHY, THE RESTORATION OF CERTAIN "LOOKS" PROPOSED TO BE INCLUDED IN THE EXHIBITION, THE CREATION OF THE "WAVE," A SCULPTURAL INSTALLATION THAT WILL BE DISPLAYED AS PART OF THE EXHIBITION, AND THE CREATION OF TEN "SOUND ATMOSPHERES" TO BE USED AS AMBIENT SOUND IN THE EXHIBITION GALLERIES; $7,500 TO FUND THE ACQUISITION OF A SOWETO LAMP DESIGNED BY DAN FRIEDMAN. 3. $29,150 FOR THE SUPPORT OF GRAPHIC ARTS GALA4. $738,000 FOR CONTINUED SUPPORT OF THE GRAPHIC ARTS DEPARTMENT

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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 $1,138,001

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $1,138,001

Expense Breakdown

Grants Paid $3,003,518

Salaries & Benefits $55,000

Fundraising Expenses $103,370

Program Expenses $3,003,518

Other Expenses $97,657

TOTAL EXPENSES $3,156,175

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,138,001	$2,257,268	-0.5%
Expenses	$3,156,175	$1,457,672	+1.2%
Net Income	$-2,018,174	$799,596	-3.5%

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

N/A

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

$55,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JULIA WIDDOWSON	PRES & DIRECTOR	0.50	Officer Director	$0	$0	$0
NORA ANN WALLACE	TREASURER, SECRETARY & DIR	1.00	Officer Director	$0	$0	$0
SAKORAKO FISHER	DIRECTOR	0.50	Director	$0	$0	$0
JANE SCHULAK	DIRECTOR	0.50	Director	$0	$0	$0
PETER SVENNILSON	DIRECTOR	0.50	Director	$0	$0	$0
JUSTINE KOONS	DIRECTOR	0.50	Director	$0	$0	$0
MARIA BELL	DIRECTOR	0.50	Director	$0	$0	$0
BERNARD SELZ	DIRECTOR	0.50	Director	$0	$0	$0
BEATRICE STERN	DIRECTOR	0.50	Director	$0	$0	$0
CINDY SHERMAN	DIRECTOR	0.50	Director	$0	$0	$0
REGINA WEINGARTEN	DIRECTOR	0.50	Director	$0	$0	$0
ANNE DIAS GRIFFIN	DIRECTOR	0.50	Director	$0	$0	$0
DANIELLE FADELL	DIRECTOR	0.50	Director	$0	$0	$0
DIANA QUASHA	DIRECTOR	0.50	Director	$0	$0	$0
MARINA KELLEN FRENCH	DIRECTOR	0.50	Director	$0	$0	$0
MARGARET BULT	EXEC DIRECT, ASST SECY & A	10.00	Officer	$55,000	$0	$55,000

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	$1,138,001	$3,156,175	$581,379	$-2,018,174
2023	$2,257,268	$1,457,672	$2,596,793	$799,596
2022	$1,514,974	$789,480	$1,795,847	$725,494
2021	$1,409,051	$977,866	$1,069,678	$431,185
2019	$3,014,781	$1,566,297	$1,851,191	$1,448,484

FRIENDS OF THE MUSEES DES ARTS DECORATIFS INC