THE NEWARK MUSEUM ASSOCIATION (EIN 221487275) - 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

1909

Legal Domicile

Principal Officer

SAYAKA ARAKI

Phone

9735966550

Tax Period

2024-01-01 to 2024-12-31

THE NEWARK MUSEUM ASSOCIATION, founded in 1909, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $23.8M in total revenue in fiscal year 2024. Revenue surged 31% from the prior year, signaling strong growth momentum. Expenses of $20.4M left a modest 14% surplus.

Mission

THE NEWARK MUSEUM OF ART OPERATES FOR THE BENEFIT OF THE PUBLIC AS A MUSEUM OF SERVICE.

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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 $12,203,634

Program Service Revenue $777,502

Investment Income $10,424,694

Other Revenue $344,408

TOTAL REVENUE $23,750,238

Expense Breakdown

Grants Paid $0

Salaries & Benefits $11,105,259

Fundraising Expenses $3,186,198

Program Expenses $14,475,497

Other Expenses $9,278,895

TOTAL EXPENSES $20,384,154

Year-over-Year Comparison

	2024	2023	Change
Revenue	$23,750,238	$18,158,765	+0.3%
Expenses	$20,384,154	$20,058,468	+0.0%
Net Income	$3,366,084	$-1,899,703	-2.8%

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

197

Volunteers

131

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

$859,209

Total Directors

$594,293

Key Employees

$1,062,277

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LINDA C HARRISON DIRECTOR	CEO AND BOARD SECRETARY	50.00	Officer Director	$500,914	$93,379	$594,293
PETER T ENGLOT	CHAIR	15.00	Officer Director	$0	$0	$0
ROBERT H DOHERTY	VICE PRESIDENT	8.00	Officer Director	$0	$0	$0
MARSHALL B MCLEAN	VICE PRESIDENT	8.00	Officer Director	$0	$0	$0
MARC E ANDERSON	TREASURER	10.00	Officer Director	$0	$0	$0
MILES BERGER	TRUSTEE	2.00	Director	$0	$0	$0
JOSEPH L BUCKLEY	TRUSTEE	2.00	Director	$0	$0	$0
ELEONORE K COHEN	TRUSTEE	2.00	Director	$0	$0	$0
LEE ANN DILLON	TRUSTEE	2.00	Director	$0	$0	$0
RODNEY DICKENS	TRUSTEE	2.00	Director	$0	$0	$0
DAHLIA ELSAYED	TRUSTEE	2.00	Director	$0	$0	$0
CHRISTINE C GILFILLAN	TRUSTEE	2.00	Director	$0	$0	$0
MEHA JAIN	TRUSTEE	2.00	Director	$0	$0	$0
CURTIS A JOHNSON ESQ	TRUSTEE	2.00	Director	$0	$0	$0
AFIYA JORDAN	TRUSTEE	2.00	Director	$0	$0	$0
JOSEPH LEE	TRUSTEE	2.00	Director	$0	$0	$0
JUDITH LIEBERMAN	TRUSTEE	2.00	Director	$0	$0	$0
CHRISTINE MASON	TRUSTEE	2.00	Director	$0	$0	$0
RONALD L NORSWORTHY	TRUSTEE THRU MAY 2024	2.00	Director	$0	$0	$0
DR ADRIENNE A PHILLIPS	TRUSTEE	2.00	Director	$0	$0	$0
BLENDA PINTO	TRUSTEE	2.00	Director	$0	$0	$0
OMMEED SATHE	TRUSTEE	2.00	Director	$0	$0	$0
SRIRAM SEKAR	TRUSTEE	2.00	Director	$0	$0	$0
PHILIP K SMITH III	TRUSTEE THRU MAY 2024	2.00	Director	$0	$0	$0
ROGER SMITH	TRUSTEE	2.00	Director	$0	$0	$0
CATHERINE WILSON	TRUSTEE	2.00	Director	$0	$0	$0
SAYAKA ARAKI	CFO	50.00	Officer	$221,838	$43,078	$264,916
CATHERINE EVANS INBUSCH DEPUTY	DIR.,COLLECTIONS/CURATORIAL STRATEGIES	50.00	Key Emp	$215,516	$44,853	$260,369
STEPHANIE LYLES DEPUTY DIR	PEOPLE, CULTURE & OPS. THRU OCT 2024	50.00	Key Emp	$253,881	$39,996	$293,877
SHIRLEY THOMAS	DEPUTY DIR. LEARNING & ENGAGEMENT	50.00	Key Emp	$182,479	$49,617	$232,096
PETER WILDEROTTER DEPUTY DIR	PHILANTHROPY & EXTERNAL RELATIONS	50.00	Key Emp	$231,560	$44,375	$275,935
TIMOTHY WINTEMBERG SR DIR	STRATEGIC INNO. PROJECTS & DESIGN	50.00	Highest	$160,546	$20,229	$180,775
DAVID MAY	SR. DIR., FACILITIES OPERATIONS	50.00	Highest	$148,399	$45,323	$193,722
JIMMY YOO	DIRECTOR, DATA AND TECHNOLOGY	50.00	Highest	$147,870	$30,796	$178,666
MARY DOWD	CHIEF OF STAFF	50.00	Highest	$113,979	$17,344	$131,323
PETER BUMANLAG	DIRECTOR OF SECURITY	50.00	Highest	$112,712	$16,653	$129,365

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	$23,750,238	$20,384,154	$70,405,406	$3,366,084
2023	$18,158,765	$20,058,468	$65,299,415	$-1,899,703
2022	$12,872,611	$25,733,529	$63,384,634	$-12,860,918
2021	$33,964,570	$17,816,141	$83,186,395	$16,148,429
2020	$11,736,749	$15,130,760	$64,370,892	$-3,394,011
2019	$12,081,101	$15,251,382	$63,813,028	$-3,170,281
2018	$21,537,638	$15,286,992	$62,426,494	$6,250,646

THE NEWARK MUSEUM ASSOCIATION