THE MONTCLAIR ART MUSEUM

EIN: 221487582 501(c)(3) Arts, Culture & Humanities

MONTCLAIR, NJ

Total Revenue
$4,647,997
Total Expenses
$6,105,391
Total Assets
$21,279,769
Net Assets
$18,737,972
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1914
Legal Domicile
NJ
Principal Officer
IRA WAGNER
Phone
9737465555
Tax Period
2024-07-01 to 2025-06-30

THE MONTCLAIR ART MUSEUM, founded in 1914, is a community nonprofit in the Arts, Culture & Humanities sector that reported $4.6M in total revenue in fiscal year 2024. Expenses of $6.1M exceeded revenue, resulting in a 31% operating deficit.

Mission

THE COLLECTIONS, WHICH WERE ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE MUSEUM'S INCEPTION, ARE NOT RECOGNIZED AS ASSETS ON THE STATEMENT OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED OR AS NET ASSETS WITH DONOR RESTRICTIONS IF THE ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS. CONTRIBUTED COLLECTION ITEMS ARE NOT REFLECTED ON THE FINANCIAL STATEMENTS. PROCEEDS FROM DEACCESSIONS OR INSURANCE RECOVERIES ARE REFLECTED AS INCREASES IN THE APPROPRIATE NET ASSET CLASSES. THE MUSEUM'S POLICY FOR THE USE OF FUNDS RECEIVED FROM THE DISPOSAL OF A DEACCESSIONED WORK OF ART INCLUDING ANY EARNINGS AND APPRECIATION THEREON, MAY BE USED ONLY FOR THE ACQUISITION OF WORKS OF ART IN A MANNER CONSISTENT WITH THE MUSEUM'S POLICY ON THE USE OF RESTRICTED ACQUISITION FUNDS OR FOR DIRECT CARE OF WORKS OF ART.

Program Service Accomplishments

Program 1
Expenses: $2,163,122 Revenue: $797

CURATORIAL:THE MONTCLAIR ART MUSEUM INSPIRES AND ENRICHES THE LIVES OF OVER 81,000 VISITORS (81,196 IN-PERSON AND 150 VIRTUAL) THROUGH EXHIBITIONS HELD AT THE MUSEUM OR SELF-ORGANIZED NATIONALLY...

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CURATORIAL:THE MONTCLAIR ART MUSEUM INSPIRES AND ENRICHES THE LIVES OF OVER 81,000 VISITORS (81,196 IN-PERSON AND 150 VIRTUAL) THROUGH EXHIBITIONS HELD AT THE MUSEUM OR SELF-ORGANIZED NATIONALLY TRAVELING SPECIAL EXHIBITIONS. THE MUSEUM'S PUBLICATIONS OFTEN ACCOMPANY THESE EXHIBITIONS. THE DEPARTMENT ALSO MANAGES THE DISPLAY, PRESERVATION, AND GROWTH OF THE MUSEUM'S PERMANENT COLLECTION OF OVER 12,000 AMERICAN AND NATIVE AMERICAN WORKS OF ART, AS WELL AS LOANS OF SELECTED WORKS TO EXHIBITIONS IN THE UNITED STATES AND ABROAD.

Program 2
Expenses: $2,130,488 Revenue: $894,030

EDUCATION:THE MUSEUM OFFERS A DIVERSE SCHEDULE OF PROGRAMS DESIGNED TO ENGAGE A BROAD RANGE OF AUDIENCES. THROUGH AN ACTIVE SCHEDULE OF LECTURES, SCHOOL PARTNERSHIPS, COMMUNITY PARTNERSHIPS, TOURS...

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EDUCATION:THE MUSEUM OFFERS A DIVERSE SCHEDULE OF PROGRAMS DESIGNED TO ENGAGE A BROAD RANGE OF AUDIENCES. THROUGH AN ACTIVE SCHEDULE OF LECTURES, SCHOOL PARTNERSHIPS, COMMUNITY PARTNERSHIPS, TOURS AND EVENTS, THE MUSEUM PROVIDES VISITORS WITH ACCESSIBLE AND UNIQUE OPPORTUNITIES TO LEARN AND ENGAGE WITH THE ARTS. THE MUSEUM ALSO OFFERS A VARIETY OF ART CLASSES, CAMPS AND STUDIO WORKSHOPS WHERE PARTICIPANTS CREATE VARIOUS TYPES OF ART WHICH ARE OFTEN RELEVANT TO THE MUSEUM'S CURRENT EXHIBITIONS.

Program 3
Expenses: $503,961 Revenue: $56,900

MEMBERSHIP:THE MONTCLAIR ART MUSEUM INCLUDES MORE THAN 2,500-MEMBER HOUSEHOLDS. MEMBERS HAVE ACCESS TO EXCLUSIVE PROGRAMS AND EVENTS, DISCOUNTS ON ART CLASSES AND STORE PURCHASES, AND FREE ACCESS TO...

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MEMBERSHIP:THE MONTCLAIR ART MUSEUM INCLUDES MORE THAN 2,500-MEMBER HOUSEHOLDS. MEMBERS HAVE ACCESS TO EXCLUSIVE PROGRAMS AND EVENTS, DISCOUNTS ON ART CLASSES AND STORE PURCHASES, AND FREE ACCESS TO A NATIONAL NETWORK OF PARTICIPATING MUSEUMS. THE MUSEUM ALSO ENJOYS THE ACTIVE SERVICE OF OVER 280 VOLUNTEERS WHO VOLUNTEER AS TRUSTEES, DOCENTS, STUDIO ASSISTANTS AND EVENT GREETERS. TOGETHER, MAM WAS THE BENEFICIARY OF OVER 10,000 HOURS OF VOLUNTEER ASSISTANCE ANNUALLY.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,173,424
Program Service Revenue $1,057,125
Investment Income $1,242,449
Other Revenue $174,999
TOTAL REVENUE $4,647,997

Expense Breakdown

Grants Paid $26,010
Salaries & Benefits $3,335,647
Fundraising Expenses $598,264
Program Expenses $5,028,837
Other Expenses $2,743,734
TOTAL EXPENSES $6,105,391

Year-over-Year Comparison

2024 2023 Change
Revenue $4,647,997 $4,433,875 +0.0%
Expenses $6,105,391 $5,928,160 +0.0%
Net Income $-1,457,394 $-1,494,285 0.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
41
Independent Members
41
Employees
153
Volunteers
208

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
22
$134,579
Total Directors
41
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHRISTINE JAMES PRESIDENT 6.00
Officer Director
$0 $0 $0
FRANK J WALTER III CHAIRMAN 6.00
Officer Director
$0 $0 $0
NEWTON B SCHOTT JR VICE CHAIR & SECRETARY 5.00
Officer Director
$0 $0 $0
JOAN ZIEF TREASURER 4.00
Officer Director
$0 $0 $0
SUSAN BRADY ABADAN VICE PRESIDENT 4.00
Officer Director
$0 $0 $0
LISA AMATO VICE PRESIDENT 3.00
Officer Director
$0 $0 $0
LINDER K ANDLINGER VICE PRESIDENT 3.00
Officer Director
$0 $0 $0
ALEXIS O DAVIS VICE PRESIDENT 3.00
Officer Director
$0 $0 $0
LYNN GLASSER VICE PRESIDENT 3.00
Officer Director
$0 $0 $0
ARTHUR HATZOPOULOS VICE PRESIDENT 3.00
Officer Director
$0 $0 $0
MICHAEL HENINGBURG JR VICE PRESIDENT 3.00
Officer Director
$0 $0 $0
DEBORAH HIRSCH VICE PRESIDENT 3.00
Officer Director
$0 $0 $0
WILLIAM S JIGGETTS VICE PRESIDENT 3.00
Officer Director
$0 $0 $0
JANICE LINAUGH VICE PRESIDENT 3.00
Officer Director
$0 $0 $0
GRETCHEN PRATER VICE PRESIDENT 3.00
Officer Director
$0 $0 $0
LYN B REITER VICE PRESIDENT 3.00
Officer Director
$0 $0 $0
LISA C RUSSMAN VICE PRESIDENT 3.00
Officer Director
$0 $0 $0
ANN SCHAFFER VICE PRESIDENT 3.00
Officer Director
$0 $0 $0
CHERYL SLUTZKY VICE PRESIDENT 3.00
Officer Director
$0 $0 $0
SHARON C TAYLOR VICE PRESIDENT 3.00
Officer Director
$0 $0 $0
ROBERT L TORTORIELLO VICE PRESIDENT 3.00
Officer Director
$0 $0 $0
VALERIE J ABLAZA MD TRUSTEE 1.00
Director
$0 $0 $0
ANGELA BEEKERS-UBEROI TRUSTEE 1.00
Director
$0 $0 $0
HEATHER BENJAMIN TRUSTEE 1.00
Director
$0 $0 $0
SUSAN V BERSHAD MD TRUSTEE 1.00
Director
$0 $0 $0
JAMES BLAKE TRUSTEE 1.00
Director
$0 $0 $0
KIMBERLY Y CHAINEY TRUSTEE 1.00
Director
$0 $0 $0
SYLVIA COHN TRUSTEE 1.00
Director
$0 $0 $0
SUSAN COLE TRUSTEE 1.00
Director
$0 $0 $0
CYNTHIA CORHAN-AITKEN TRUSTEE 1.00
Director
$0 $0 $0
ED GREGORY TRUSTEE 1.00
Director
$0 $0 $0
ROSANNE GUARARRA TRUSTEE 1.00
Director
$0 $0 $0
JONATHAN KOPPELL TRUSTEE 1.00
Director
$0 $0 $0
WENDY LACEY TRUSTEE 1.00
Director
$0 $0 $0
JAMES LEITNER TRUSTEE 1.00
Director
$0 $0 $0
JENNIFER T LEY TRUSTEE 1.00
Director
$0 $0 $0
LANA MASOR TRUSTEE 1.00
Director
$0 $0 $0
MACI PHILITAS TRUSTEE 1.00
Director
$0 $0 $0
RICHARD E POLTON TRUSTEE 1.00
Director
$0 $0 $0
AMY PUTMAN TRUSTEE 1.00
Director
$0 $0 $0
DOUGLAS W TURNBULL TRUSTEE 1.00
Director
$0 $0 $0
IRA WAGNER EXECUTIVE DIRECTOR 39.00
Officer
$119,084 $15,495 $134,579
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 $4,647,997 $6,105,391 $21,279,769 $-1,457,394
2024 $4,433,875 $5,928,160 $22,810,509 $-1,494,285
2023 $5,636,363 $5,539,794 $24,220,081 $96,569
2022 $7,870,896 $5,163,160 $23,752,572 $2,707,736
2021 $4,556,751 $4,558,598 $24,035,266 $-1,847
2020 $4,067,537 $4,526,435 $23,018,765 $-458,898
2019 $4,309,848 $4,929,747 $23,256,331 $-619,899
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