TAFT MUSEUM OF ART

EIN: 205148617 501(c)(3) Arts, Culture & Humanities

CINCINNATI, OH

Total Revenue
$5,989,951
Total Expenses
$8,178,733
Total Assets
$69,801,807
Net Assets
$66,236,133
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2006
Legal Domicile
OH
Principal Officer
PETER AAMODT
Phone
5132410343
Tax Period
2023-09-01 to 2024-08-31

TAFT MUSEUM OF ART, founded in 2006, is a community nonprofit in the Arts, Culture & Humanities sector that reported $6.0M in total revenue in fiscal year 2023. Revenue fell 41% from the prior year — a significant decline worth monitoring. Expenses of $8.2M exceeded revenue, resulting in a 37% operating deficit.

Mission

TO PROVIDE MEANINGFUL EXPERIENCES BY CONNECTING PEOPLE WITH GREAT ART, BOTH IN A HISTORIC SETTING AND IN THE COMMUNITY.

Program Service Accomplishments

Program 1
Expenses: $5,410,213 Revenue: $220,383

IN ADDITION TO THE HISTORIC TAFT HOUSE AND ITS PERMANENT ART COLLECTION, THE MUSEUM HOSTED TWO MAJOR TEMPORARY EXHIBITIONS DURING THE FISCAL YEAR. OVER 35,840 VISITORS HAVE PARTAKEN IN TOURING THE...

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IN ADDITION TO THE HISTORIC TAFT HOUSE AND ITS PERMANENT ART COLLECTION, THE MUSEUM HOSTED TWO MAJOR TEMPORARY EXHIBITIONS DURING THE FISCAL YEAR. OVER 35,840 VISITORS HAVE PARTAKEN IN TOURING THE HOUSE AND VIEWING THE TRAVELING EXHIBITIONS. THE MUSEUM ALSO PROVIDES BOTH A CAFE AND A GIFT SHOP FOR THE COMFORT AND ENJOYMENT OF ITS VISITORS ALONG WITH THE OPPORTUNITIES TO RENT THE OUTSIDE GARDEN AND FACILITIES.

Program 2
Expenses: $756,482 Revenue: $30,815

THE MUSEUM PROVIDES EDUCATIONAL PROGRAMS REACHING OUT TO SCHOOLS, FAMILIES, AND THE GENERAL PUBLIC TO ACHIEVE THE GOAL OF BRINGING THE ART COLLECTION ALIVE FOR ALL AUDIENCES. ACTIVITIES INCLUDE...

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THE MUSEUM PROVIDES EDUCATIONAL PROGRAMS REACHING OUT TO SCHOOLS, FAMILIES, AND THE GENERAL PUBLIC TO ACHIEVE THE GOAL OF BRINGING THE ART COLLECTION ALIVE FOR ALL AUDIENCES. ACTIVITIES INCLUDE LECTURES, WORKSHOPS, STUDIO PROGRAMS, CONCERTS, AS WELL AS SUMMER ART CAMP AND INTERACTIVE TOURS FOR SCHOOL CHILDREN.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $4,029,158
Program Service Revenue $224,001
Investment Income $1,479,582
Other Revenue $257,210
TOTAL REVENUE $5,989,951

Expense Breakdown

Grants Paid $0
Salaries & Benefits $4,356,113
Fundraising Expenses $497,702
Program Expenses $6,166,695
Other Expenses $3,822,620
TOTAL EXPENSES $8,178,733

Year-over-Year Comparison

2023 2022 Change
Revenue $5,989,951 $10,124,881 -0.4%
Expenses $8,178,733 $6,983,092 +0.2%
Net Income $-2,188,782 $3,141,789 -1.7%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
31
Independent Members
31
Employees
113
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
6
$379,413
Total Directors
31
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JILL T MCGRUDER CHAIR 1.00
Officer Director
$0 $0 $0
KELSEY BAHL TRUSTEE 0.50
Director
$0 $0 $0
RON T BATES TRUSTEE 0.50
Director
$0 $0 $0
SHANNON CARTER VICE CHAIR 1.00
Officer Director
$0 $0 $0
PAUL W CHELLGREN CHAIR EMERITUS 0.50
Director
$0 $0 $0
PHILIP K CONE TRUSTEE 0.50
Director
$0 $0 $0
NANCY FEHR TRUSTEE 0.50
Director
$0 $0 $0
KRISTINE R GARRETT TRUSTEE 0.50
Director
$0 $0 $0
BONNIE GLEAVES TRUSTEE 0.50
Director
$0 $0 $0
GERALD H GREENE TRUSTEE 0.50
Director
$0 $0 $0
CHRISTOPHER S HABEL TRUSTEE 0.50
Director
$0 $0 $0
DAVID L HAUSRATH TREASURER 1.00
Officer Director
$0 $0 $0
HEATHER M HAWKINS TRUSTEE 0.50
Director
$0 $0 $0
ROBERT CHIP HEIDT TRUSTEE 0.50
Director
$0 $0 $0
JAMIE JEWELL TRUSTEE 0.50
Director
$0 $0 $0
DARA M KENDALL TRUSTEE 0.50
Director
$0 $0 $0
JOHN T LAWRENCE TRUSTEE 0.50
Director
$0 $0 $0
PHILLIP C LONG DIRECTOR EMERITUS 0.50
Director
$0 $0 $0
PHYLLIS L MCCALLUM TRUSTEE 0.50
Director
$0 $0 $0
RICHARD L MOORE TRUSTEE 0.50
Director
$0 $0 $0
LAURA R PEASE TRUSTEE 0.50
Director
$0 $0 $0
JORGE PEREZ TRUSTEE 0.50
Director
$0 $0 $0
BRADFORD PHILLIPS TRUSTEE 0.50
Director
$0 $0 $0
LEONARD M RANDOLPH JR MD TRUSTEE 0.50
Director
$0 $0 $0
ELLEN RIEVESCHL TRUSTEE 0.50
Director
$0 $0 $0
KATHERINE D SCHMITT TRUSTEE 0.50
Director
$0 $0 $0
BETSY K SCHWARTZ TRUSTEE 0.50
Director
$0 $0 $0
ANNE SHANAHAN TRUSTEE 0.50
Director
$0 $0 $0
DUDLEY S TAFT JR TRUSTEE 0.50
Director
$0 $0 $0
JANE A VOTEL SECRETARY 1.00
Officer Director
$0 $0 $0
ELIZABETH WARNER TRUSTEE 0.50
Director
$0 $0 $0
PETER AAMODT CFO 50.00
Officer
$102,008 $9,649 $111,657
REBEKAH BEAULIEU CEO 50.00
Officer
$242,653 $25,103 $267,756
LINDSEY NECAMP DEPUTY DIERCTOR 50.00
Highest
$125,081 $3,750 $128,831
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 $5,989,951 $8,178,733 $69,801,807 $-2,188,782
2023 $10,124,881 $6,983,092 $69,998,637 $3,141,789
2022 $7,448,925 $5,915,749 $63,456,047 $1,533,176
2021 $9,758,703 $4,965,983 $66,657,751 $4,792,720
2020 $7,451,068 $5,268,957 $54,566,768 $2,182,111
2019 $5,917,883 $5,807,293 $50,248,535 $110,590
2018 $9,623,693 $5,194,540 $52,069,318 $4,429,153
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