GRAND RAPIDS PUBLIC MUSEUM

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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

2006

Legal Domicile

Principal Officer

DALE ROBERTSON

Phone

6169291700

Tax Period

2024-07-01 to 2025-06-30

GRAND RAPIDS PUBLIC MUSEUM, founded in 2006, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $19.8M in total revenue in fiscal year 2024. Revenue surged 74% from the prior year, signaling strong growth momentum. The organization ran a surplus of $9.4M, a strong 47% operating margin.

Mission

THE GRPM EXISTS TO BE A LIVING MONUMENT OF ARTIFACTS, IDEAS AND STORIES TOLD THROUGH EXHIBITIONS, EVENTS, AND EDUCATIONAL PROGRAMMING DESIGNED TO INSPIRE, MOTIVATE AND CELEBRATE OUR HUMAN BOND. WE ENRICH THE LIVES OF OUR COMMUNITY THROUGH EXPERIENCES OF THE WIDER WORLD IN A UNIQUELY GRAND RAPIDS CONTEXT. OUR VISION IS TO INSPIRE PASSIONATE CURIOSITY AND A DEEPER UNDERSTANDING OF THE WORLD AROUND US.

Program Service Accomplishments

Program 1

Expenses: $7,898,474 Revenue: $1,481,955

THE GRPM OFFERS A WIDE VARIETY OF PROGRAMS AND SERVICES FOR VISITORS OF ALL AGES FOCUSING ON HISTORY, SCIENCE AND CULTURE. IN ADDITION TO THREE FLOORS OF CORE EXHIBITS, THE GRPM OFFERS A ROTATING...

THE GRPM OFFERS A WIDE VARIETY OF PROGRAMS AND SERVICES FOR VISITORS OF ALL AGES FOCUSING ON HISTORY, SCIENCE AND CULTURE. IN ADDITION TO THREE FLOORS OF CORE EXHIBITS, THE GRPM OFFERS A ROTATING SELECTION OF TEMPORARY EXHIBITS. THE CHAFFEE PLANETARIUM PROVIDES VISITORS WITH AN IMMERSIVE EXPERIENCE THAT EXPLORES THE WONDERS OF SPACE AND THE UNIVERSE. EDUCATIONAL AND PUBLIC PROGRAMS ARE OFFERED FOR STUDENTS OF ALL AGES, INCLUDING FIELD TRIPS, WORKSHOPS, AND SUMMER CAMPS. THE MUSEUM'S COLLECTION FEATURES OVER 250,000 ARTIFACTS AND SPECIMENS FROM A VARIETY OF FIELDS, INCLUDING ANTHROPOLOGY, NATURAL HISTORY, AND MORE. THE DIGITAL STRATEGY IS FOCUSED ON MAKING THE MUSEUM'S COLLECTION AND EDUCATIONAL CONTENT MORE ACCESSIBLE USING NEW INTERACTIVE TECHNOLOGIES. THE MUSEUM HOSTS A VARIETY OF EVENTS THROUGHOUT THE YEAR, INCLUDING LECTURES, CONCERTS, AND FAMILY-FRIENDLY ACTIVITIES. THE GRPM PROVIDES OUTREACH SERVICES TO SCHOOLS AND COMMUNITY ORGANIZATIONS, BRINGING EDUCATIONAL RESOURCES AND PROGRAMMING TO UNDERSERVED AREAS. THE MUSEUM'S STAFF AND SCHOLARS ENGAGE IN RESEARCH RELATED TO THE MUSEUM'S COLLECTIONS, CONTRIBUTING TO THE FIELD OF KNOWLEDGE IN A VARIETY OF DISCIPLINES.

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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 $17,266,836

Program Service Revenue $1,873,609

Investment Income $173,120

Other Revenue $495,362

TOTAL REVENUE $19,808,927

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,306,103

Fundraising Expenses $784,998

Program Expenses $7,898,474

Other Expenses $5,149,354

TOTAL EXPENSES $10,455,457

Year-over-Year Comparison

	2024	2023	Change
Revenue	$19,808,927	$11,379,181	+0.7%
Expenses	$10,455,457	$10,324,415	+0.0%
Net Income	$9,353,470	$1,054,766	+7.9%

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

150

Volunteers

109

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

$372,620

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARLIN FEYEN	CHAIR	1.00	Officer Director	$0	$0	$0
RICH NOREEN	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
JAMES HAVEMAN	DIRECTOR	1.00	Director	$0	$0	$0
DR JESSE BERNAL	DIRECTOR	1.00	Director	$0	$0	$0
LYMAN S PARKS JR	DIRECTOR	1.00	Director	$0	$0	$0
DALE ROBERTSON	PRESIDENT/CEO	40.00	Officer	$232,469	$15,330	$247,799
KAREN WILBURN	CFO & VP OF ADMINISTRATION	40.00	Officer	$124,492	$329	$124,821
MARI BETH JOHNSON-JELKS	VP OF HUMAN RESOURCES	40.00	Highest	$116,499	$6,438	$122,937
STEPHANIE OGREN	VP OF SCIENCE & EDUCATION	40.00	Highest	$100,454	$6,438	$106,892

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	$19,808,927	$10,455,457	$33,953,910	$9,353,470
2024	$11,379,181	$10,324,415	$27,113,284	$1,054,766
2023	$20,611,936	$9,307,834	$23,162,635	$11,304,102
2022	$10,500,856	$9,057,920	$11,773,434	$1,442,936
2021	$8,206,945	$7,461,944	$9,797,722	$745,001
2020	$8,666,843	$7,580,036	$9,209,769	$1,086,807
2019	$8,503,439	$7,804,920	$8,061,741	$698,519
2018	$8,397,843	$7,383,134	$7,517,488	$1,014,709