CARNEGIE INSTITUTE (EIN 250965280) - 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

1926

Legal Domicile

Principal Officer

STEVEN KNAPP

Phone

4126223301

Tax Period

2023-01-01 to 2023-12-31

CARNEGIE INSTITUTE, founded in 1926, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $73.2M in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year. Expenses of $84.2M exceeded revenue, resulting in a 15% operating deficit.

Mission

FOUNDED BY ANDREW CARNEGIE IN 1895, CARNEGIE MUSEUMS OF PITTSBURGH IS A COLLECTION OF FOUR DISTINCTIVE MUSEUMS DEDICATED TO EXPLORATION THROUGH ART AND SCIENCE: CARNEGIE MUSEUM OF ART, CARNEGIE MUSEUM OF NATURAL HISTORY, CARNEGIE SCIENCE CENTER AND THE ANDY WARHOL MUSEUM.IN 2023, THE MUSEUMS REACHED 1,272,422 PEOPLE THROUGH EXHIBITIONS, EDUCATION PROGRAMS, OUTREACH ACTIVITIES, AND SPECIAL EVENTS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $34,215,256

Program Service Revenue $18,721,056

Investment Income $16,368,558

Other Revenue $3,911,481

TOTAL REVENUE $73,216,351

Expense Breakdown

Grants Paid $0

Salaries & Benefits $40,014,144

Fundraising Expenses $7,056,760

Program Expenses $68,160,684

Other Expenses $44,144,600

TOTAL EXPENSES $84,158,744

Year-over-Year Comparison

	2023	2022	Change
Revenue	$73,216,351	$81,329,411	-0.1%
Expenses	$84,158,744	$80,819,110	+0.0%
Net Income	$-10,942,393	$510,301	-22.4%

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

1102

Volunteers

859

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

$2,558,715

Total Directors

$553,716

Key Employees

$203,848

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVEN KNAPP	PRESIDENT/CEO	45.00	Officer Director	$500,039	$53,677	$553,716
GEOVETTE E WASHINGTON	TRUSTEE: CHAIRMAN	3.00	Officer Director	$0	$0	$0
KANIKA BLUE CAPEL	TRUSTEE ENTERED 6/15/23	2.00	Director	$0	$0	$0
JOHN A BARBOUR	TRUSTEE	3.00	Director	$0	$0	$0
RAYMOND T BETLER	TRUSTEE	2.00	Director	$0	$0	$0
HELEN M BILLAK	TRUSTEE	3.00	Director	$0	$0	$0
KEVIN L CARTER	TRUSTEE EX OFFICIO	1.00	Director	$0	$0	$0
PATRICK J CATENA	TRUSTEE EX OFFICIO	1.00	Director	$0	$0	$0
LOUIS R CESTELLO	TRUSTEE	2.00	Director	$0	$0	$0
NOLAND J CHEUNG	TRUSTEE	2.00	Director	$0	$0	$0
JEFFER M CHOUDHRY	TRUSTEE ENTERED 6/15/23	2.00	Director	$0	$0	$0
KENYOKEE C CROWELL	TRUSTEE ENTERED 6/15/23	2.00	Director	$0	$0	$0
DEBORAH G DICK	TRUSTEE ENTERED 6/15/23	2.00	Director	$0	$0	$0
CHARLES H DOUGHERTY JR	TRUSTEE	3.00	Director	$0	$0	$0
CAROLYN DURONIO	TRUSTEE	2.00	Director	$0	$0	$0
EVAN S FRAZIER	TRUSTEE	2.00	Director	$0	$0	$0
WILLIAM GENERETT JR ESQUIRE	TRUSTEE	1.00	Director	$0	$0	$0
CINDY AKERS GERBER	TRUSTEE	2.00	Director	$0	$0	$0
JOSEPH C GUYAUX	TRUSTEE	2.00	Director	$0	$0	$0
WILLIAM E HUNT	TRUSTEE	2.00	Director	$0	$0	$0
ELLEN P KESSLER	TRUSTEE	3.00	Director	$0	$0	$0
JENNIFER M LIPTAK	TRUSTEE EX OFFICIO	2.00	Director	$0	$0	$0
LEAH L LIZARONDO	TRUSTEE	1.00	Director	$0	$0	$0
CHRISTOPHER MARTIN	TRUSTEE	2.00	Director	$0	$0	$0
DAVID M MARTIN	TRUSTEE	3.00	Director	$0	$0	$0
ALICE B MITINGER	TRUSTEE	2.00	Director	$0	$0	$0
KENNEDY B NELSON	TRUSTEE	2.00	Director	$0	$0	$0
ALBERT J NEUPAVER	TRUSTEE	2.00	Director	$0	$0	$0
DEMETRIOS T PATRINOS	TRUSTEE	3.00	Director	$0	$0	$0
MARY ELLEN POOLE	TRUSTEE	2.00	Director	$0	$0	$0
MICHAEL K POPPER	TRUSTEE	3.00	Director	$0	$0	$0
DAVID L PORGES	TRUSTEE	3.00	Director	$0	$0	$0
SAM REIMAN	TRUSTEE ENTERED 6/15/23	2.00	Director	$0	$0	$0
JOHN M RUSCETTI CFA	TRUSTEE	2.00	Director	$0	$0	$0
JULIET LEA H SIMONDS	TRUSTEE EXITED 6/15/23	2.00	Director	$0	$0	$0
JANERA SOLOMON	TRUSTEE EX OFFICIO	2.00	Director	$0	$0	$0
JAMES SPENCER	TRUSTEE	3.00	Director	$0	$0	$0
JOAN R STEPHANS	TRUSTEE	1.00	Director	$0	$0	$0
ERICA STRASSBURGER	TRUSTEE EX OFFICIO	2.00	Director	$0	$0	$0
CHRISTINE J TORETTI	TRUSTEE	2.00	Director	$0	$0	$0
WALTER W TURNER	TRUSTEE	2.00	Director	$0	$0	$0
THOMAS L VANKIRK	TRUSTEE	3.00	Director	$0	$0	$0
KEVIN HILES	COO, EXECUTIVE VP	45.00	Officer	$299,121	$47,623	$346,744
GRETCHEN BAKER	DIRECTOR CMNH	45.00	Officer	$263,401	$27,980	$291,381
ERIC CROSBY	HENRY J HEINZ II DIRECTOR	45.00	Officer	$267,710	$17,889	$285,599
JASON BROWN	HENRY BUHL JR DIRECTOR CSC	45.00	Officer	$263,360	$18,820	$282,180
PATRICK MOORE	DIRECTOR AWM	45.00	Officer	$262,370	$29,769	$292,139
FRANK CARDIELLO	TREASURER; VP FINANCE; CFO	45.00	Officer	$236,844	$30,735	$267,579
MARIA BERNIER	SECRETARY; GENERAL COUNSEL	45.00	Officer	$221,028	$18,349	$239,377
EDWARD MOTZNIK	VP TECHNOLOGY	45.00	Key Emp	$187,947	$15,901	$203,848
NICOLE BECHTOLD	ASSOCIATE GENERAL COUNSEL	45.00	Highest	$209,374	$13,127	$222,501
GINA WINSTEAD	VP INCLUSION DIVERSITY EQUITY ACCESSABILITY	45.00	Highest	$213,707	$19,861	$233,568
ANTHONY YOUNG	VP FPO	45.00	Highest	$167,096	$27,400	$194,496
BRIAN HARKINS	VP HUMAN RESOURCES	45.00	Highest	$166,674	$27,689	$194,363
JASON ZELINKO	AVP INSTITUTIONAL PARTNERS	45.00	Highest	$179,136	$5,002	$184,138

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	No data	No data	No data	No data
2023	$73,216,351	$84,158,744	$592,986,844	$-10,942,393
2022	$81,329,411	$80,819,110	$564,046,218	$510,301
2021	$109,965,302	$62,814,028	$648,539,056	$47,151,274
2020	$82,217,609	$56,852,629	$541,460,866	$25,364,980
2019	$71,439,979	$64,092,769	$492,002,435	$7,347,210
2018	$90,369,901	$66,792,946	$450,980,871	$23,576,955

CARNEGIE INSTITUTE