GEORGE EASTMAN MUSEUM (EIN 160743991) - 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

1947

Legal Domicile

Principal Officer

JACQUELINE DISTEFANO

Phone

5853274800

Tax Period

2022-01-01 to 2022-12-31

GEORGE EASTMAN MUSEUM, founded in 1947, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $12.6M in total revenue in fiscal year 2022. The organization ran a surplus of $3.6M, a strong 29% operating margin.

Mission

FOUNDED IN 1947, THE GEORGE EASTMAN MUSEUM IS THE WORLD'S OLDEST (CONTINUED ON SCHEDULE O)PHOTOGRAPHY MUSEUM AND ONE OF THE FOREMOST FILM ARCHIVES IN THE UNITED STATES. THE MUSEUM IS LOCATED ON THE HISTORIC ESTATE OF ENTREPRENEUR AND PHILANTHORPIST GEORGE EASTMAN, THE PIONEER OF POPULAR PHOTOGRAPHY AND A LEADER IN THE DEVELOPMENT OF MOTION PICUTRE FILM. ITS HOLDINGS COMPRISE MORE THAN 400,000 PHOTOGRAPHS; 28,000 MOTION PICTURE FILMS; THE WORLD'S PREEMINENT COLLECTION OF PHOTOGRAPHIC AND CINEMATOGRAPHIC TECHNOLOGY; ONE OF THE LEADING LIBRARIES OF BOOKS RELATED TO PHOTOGRAPHY AND CINEMA; AND EXTENSIVE HOLDINGS OF DOCUMENTS AND OTHER OBJECTS RELATED TO GEORGE EASTMAN. AS A RESEARCH AND TEACHING INSTITUTION, THE MUSEUM HAS AN ACTIVE PUBLISHING PROGRAM AND HAS MADE CRITICAL CONTRIBUTIONS IN THE FIELDS OF FILM PRESERVATION AND PHOTOGRAPHIC CONSERVATION.

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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 (2022)

Revenue Breakdown

Contributions & Grants $8,294,726

Program Service Revenue $1,683,972

Investment Income $2,367,259

Other Revenue $256,193

TOTAL REVENUE $12,602,150

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,149,476

Fundraising Expenses $980,970

Program Expenses $7,072,338

Other Expenses $3,830,104

TOTAL EXPENSES $8,979,580

Year-over-Year Comparison

	2022	2021	Change
Revenue	$12,602,150	$12,306,953	+0.0%
Expenses	$8,979,580	$9,281,907	0.0%
Net Income	$3,622,570	$3,025,046	+0.2%

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

140

Volunteers

149

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

$511,085

Total Directors

$228,130

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NANNETTE NOCON	CHAIR	10.00	Officer Director	$0	$0	$0
KEVIN P GAVAGAN	TRUSTEE	1.00	Director	$0	$0	$0
KEVIN GLAZER	VICE CHAIR	2.00	Officer Director	$0	$0	$0
STEVEN L SCHWARTZ	VICE CHAIR	2.00	Officer Director	$0	$0	$0
CHRISTINE B WHITMAN	TREASURER	2.00	Officer Director	$0	$0	$0
BRUCE BARNES	DIRECTOR	60.00	Officer Director	$217,632	$10,498	$228,130
ANN L BURR	TRUSTEE	1.00	Director	$0	$0	$0
HC DIGBY CLEMENTS	TRUSTEE	1.00	Director	$0	$0	$0
KENNETH AFREDERICK	SECRETARY	2.00	Officer Director	$0	$0	$0
TERRY R TABER PHD	TRUSTEE	1.00	Director	$0	$0	$0
JEFFREY A KORCHEK ESQ	TRUSTEE	1.00	Director	$0	$0	$0
STEVEN J SASSON	TRUSTEE	1.00	Director	$0	$0	$0
DENNIS BUCHAN	TRUSTEE	1.00	Director	$0	$0	$0
DR ROBERT F ASBURY	TRUSTEE	1.00	Director	$0	$0	$0
DENNIS BASSETT	TRUSTEE	1.00	Director	$0	$0	$0
MARY ANN HETZER	TRUSTEE	1.00	Director	$0	$0	$0
WILLIAM J FERGUSON II	TRUSTEE	1.00	Director	$0	$0	$0
ROSS P LANZAFAME ESQ	TRUSTEE	1.00	Director	$0	$0	$0
SARAH C MANGELSDORF	TRUSTEE	1.00	Director	$0	$0	$0
JOHN A ULATOWSKI MD PHD MBA	TRUSTEE	1.00	Director	$0	$0	$0
DEBBY WILSON	TRUSTEE	1.00	Director	$0	$0	$0
ERIC R PALEY ESQ	TRUSTEE	1.00	Director	$0	$0	$0
LINDA BUTTRILL	TRUSTEE	1.00	Director	$0	$0	$0
BONNIE GARNER	TRUSTEE	1.00	Director	$0	$0	$0
DARRYL JACKSON	TRUSTEE	1.00	Director	$0	$0	$0
EDWIN J LOPEZ-SOTO ESQ	TRUSTEE	1.00	Director	$0	$0	$0
FABRICIO MORALES	TRUSTEE	1.00	Director	$0	$0	$0
JEFFREY J POLLOCK	TRUSTEE	1.00	Director	$0	$0	$0
SUSAN S ROBFOGEL	TRUSTEE	1.00	Director	$0	$0	$0
JEFFRY A ROLOSON	TRUSTEE	1.00	Director	$0	$0	$0
MARGARET A SANCHEZ	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT A WOODHOUSE	TRUSTEE	1.00	Director	$0	$0	$0
JACQUELINE DISTEFANO	VP-FINANCE AND OPS	37.50	Officer	$132,238	$161	$132,399
LISA SEISCHAB	VP-DEVELOPMENT	37.50	Officer	$148,248	$2,308	$150,556

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
2022	$12,602,150	$8,979,580	$55,954,650	$3,622,570
2021	$12,306,953	$9,281,907	$59,825,841	$3,025,046
2020	$9,775,250	$8,566,761	$54,382,657	$1,208,489
2019	$10,090,397	$9,221,709	$48,373,408	$868,688
2019	$10,090,397	$9,221,709	$48,373,408	$868,688
2018	$9,836,662	$9,453,090	$43,387,052	$383,572

GEORGE EASTMAN MUSEUM