VIRGINIA MUSEUM OF CONTEMPORARY ART

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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

1952

Principal Officer

NICOLE NAIDYHORSKI

Phone

7574250000

Tax Period

2024-07-01 to 2025-06-30

VIRGINIA MUSEUM OF CONTEMPORARY ART, founded in 1952, is a community nonprofit in the Arts, Culture & Humanities sector that reported $7.0M in total revenue in fiscal year 2024. Revenue surged 139% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.1M, a strong 59% operating margin.

Mission

THE VIRGINIA MUSEUM OF CONTEMPORARY ART (VIRGINIA MOCA) IS A NON-PROFIT INSTITUTION WHICH EXISTS TO FOSTER AWARENESS, EXPLORATION, AND UNDERSTANDING OF THE SIGNIFICANT ART OF OUR TIME. ACCREDITED BY THE AMERICAN ALLIANCE OF MUSEUMS, VIRGINIA MOCA'S INTEGRATION OF ITS FOUR PRIMARY ACTIVITIES-GALLERY EXHIBITIONS, STUDIO ART CLASSES, EDUCATIONAL PROGRAMS, AND THE BOARDWALK ART SHOW - VIRGINIA MOCA ENGAGES A DIVERSE REGIONAL PUBLIC IN THE RICH AND ACTIVE LANGUAGE OF CONTEMPORARY VISUAL ART. ITS ANNUAL ATTENDANCE ACROSS ALL EVENTS, INCLUDING THE RENOWNED ANNUAL BOARDWALK ART SHOW, IS MORE THAN 300,000.

Program Service Accomplishments

Program 1

Expenses: $1,554,857 Revenue: $24,681

EXHIBITIONS: VIRGINIA MOCA,AN AAM-ACCREDITED, NON-COLLECTING MUSEUM, IS DEDICATED TO SHOWCASING EXCEPTIONAL CONTEMPORARY ART THAT RESONATES BOTH LOCALLY AND NATIONALLY, REFLECTING OUR SHARED HUMAN...

EXHIBITIONS: VIRGINIA MOCA,AN AAM-ACCREDITED, NON-COLLECTING MUSEUM, IS DEDICATED TO SHOWCASING EXCEPTIONAL CONTEMPORARY ART THAT RESONATES BOTH LOCALLY AND NATIONALLY, REFLECTING OUR SHARED HUMAN EXPERIENCE. THE MUSEUM'S FOUR EXHIBITION SPACES HOST APPROXIMATELY 20 EXHIBITIONS ANNUALLY, WITH MAJOR SHOWS FEATURED IN THE MAIN GALLERY UP TO THREE TIMES PER YEAR. RECENT PAST EXHIBITIONS HAVE INCLUDED THE WORK OF MARK DION AND ALEXIS ROCKMAN. VIRGINIA MOCA IS COMMITTED TO ACCESSIBILITY, OFFERING FREE ADMISSION TO ALL EXHIBITIONS.

Program 2

Expenses: $381,495 Revenue: $93,865

EDUCATION: CLOSE LOOKING AND INQUIRY-BASED EXPLORATION ANCHOR EDUCATION FOR YOUTH, STUDENTS, FAMILIES, TEACHERS, AND ADULTS AT VMOCA. COUPLED WITH UNDERSTANDING THE IDEAS BEHIND THE WORK IS MATERIALS AND METHODS INSTRUCTION. PROGRAMS INCLUDE SCHOOL TOURS (ON SITE AND VIRTUAL), ARTIST- IN-RESIDENCE PROGRAMS IN THE MUSEUM ATRIUM SPACE, REGULAR AND FREE FAMILY FEST DAYS; YOUTH AND ADULT STUDIO CLASSES; MASTER CLASSES WITH PRESENTING ARTISTS; LECTURES IN THE GALLERIES; PRESENTATION AND CELEBRATIONS OF STUDENT WORK; SUMMER ART CAMPS, AND CONTINUING EDUCATION FOR TEACHERS. MANY EDUCATION PROGRAMS ARE FREE, AND FOR THOSE THAT ARE NOT, SCHOLARSHIP FUNDING IS AVAILABLE.

Program 3

Expenses: $147,701 Revenue: $100,084

BOARDWALK ART SHOW: THIS ANNUAL EVENT, NOW IN ITS 69TH YEAR, WAS THE SEED FROM WHICH THE CURRENT MUSEUM SPRUNG. THE MUSEUM CELEBRATES ITS LOCAL AND ARTISTIC COMMUNITIES WITH THIS FREE, 3-DAY OUTDOOR EXHIBITION OF ORIGINAL ARTWORK, ACROSS MEDIA, ON THE ICONIC VIRGINIA BEACH BOARDWALK. CLOSE TO 30,000 VISITORS CONNECT WITH A COUPLE HUNDRED ARTISTS, EXPLORING THEIR WORK, LEARNING ABOUT THEIR PRACTICE, AND BUYING ARTWORK. CORPORATE AND INDIVIDUAL SPONSORS FROM ACROSS THE REGION PROVIDE SUPPORT, WHILE PATRONS MAKE A VISIT TO THE FREE AND EASILY ACCESSIBLE BOARDWALK ART SHOW A YEARLY PILGRIMAGE. THE CITY OF VIRGINIA BEACH CONSIDERS THE VMOCA BOARDWALK ART SHOW A SIGNATURE EVENT FOR THE CITY. THE ART SHOW IS EMBEDDED IN THE DNA OF VIRGINIA BEACH GIVEN THE ART SHOW BEGAN 7 YEARS BEFORE THE CITY OF VIRGINIA BEACH WAS FORMED.

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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 $6,380,460

Program Service Revenue $218,630

Investment Income $20,989

Other Revenue $374,001

TOTAL REVENUE $6,994,080

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,728,283

Fundraising Expenses $307,232

Program Expenses $2,084,053

Other Expenses $1,132,120

TOTAL EXPENSES $2,860,403

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,994,080	$2,925,909	+1.4%
Expenses	$2,860,403	$3,063,809	-0.1%
Net Income	$4,133,677	$-137,900	-31.0%

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

Volunteers

160

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

$140,126

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALISON BYRNE	EXECUTIVE DI	40.00	Officer	$121,595	$18,531	$140,126
NICOLE NAIDYHORSKI	IMMEDIATE PA	1.00	Officer Director	$0	$0	$0
BRUCE BERLIN	CHAIR	1.00	Officer Director	$0	$0	$0
NICK LOURIDAS	TREASURER	1.00	Officer Director	$0	$0	$0
SUSAN COHEN	VICE CHAIR	1.00	Officer Director	$0	$0	$0
SCOTT DUNCAN	TRUSTEE	4.00	Officer Director	$0	$0	$0
JEFFREY FINE	TRUSTEE	1.00	Director	$0	$0	$0
CONNIE O'BRIEN	SECRETARY	1.00	Director	$0	$0	$0
JORDAN ASHER	TRUSTEE	1.00	Director	$0	$0	$0
ANNEMIJN VAN DER BIJL	TRUSTEE	1.00	Director	$0	$0	$0
ANNE FLEDER	TRUSTEE	1.00	Director	$0	$0	$0
MARTHA GOODE	TRUSTEE	1.00	Director	$0	$0	$0
MARIA HILLEBRANDT	TRUSTEE	1.00	Director	$0	$0	$0
JOHN KATSIAS	TRUSTEE	1.00	Director	$0	$0	$0
KIRKLAND KELLEY	TRUSTEE	1.00	Director	$0	$0	$0
VIRGINIA GINNY FOGG	TRUSTEE	1.00	Director	$0	$0	$0
MATTHEW GALUMBECK	TRUSTEE	1.00	Director	$0	$0	$0
MARK NELSON	TRUSTEE	1.00	Director	$0	$0	$0
SUE GRUBE	TRUSTEE	1.00	Director	$0	$0	$0
JOSE MOREY	TRUSTEE	1.00	Director	$0	$0	$0
LAURA WOOD	TRUSTEE	1.00	Director	$0	$0	$0
CASSANDRA NEWBY-ALEXANDER	TRUSTEE	1.00	Director	$0	$0	$0
KIM MCCOY WEBB	TRUSTEE	1.00	Director	$0	$0	$0
MEREDITH RENEGAR	TRUSTEE	1.00	Director	$0	$0	$0

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	$6,994,080	$2,860,403	$6,382,380	$4,133,677
2024	No data	No data	No data	No data
2023	$3,018,435	$3,183,669	$2,435,621	$-165,234
2022	$3,254,466	$2,835,523	$2,164,198	$418,943
2021	$1,961,738	$2,060,617	$2,057,712	$-98,879
2020	$1,695,909	$2,179,854	$2,041,758	$-483,945
2019	$2,059,968	$2,262,363	$2,316,877	$-202,395
2018	$2,308,597	$2,117,354	$2,434,015	$191,243