BAINBRIDGE ISLAND MUSEUM OF ART (EIN 270183255) - 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

2009

Legal Domicile

Principal Officer

SHEILA HUGHES

Phone

2068424451

Tax Period

2024-01-01 to 2024-12-31

BAINBRIDGE ISLAND MUSEUM OF ART, founded in 2009, is a community nonprofit in the Arts, Culture & Humanities sector that reported $5.0M in total revenue in fiscal year 2024. Revenue surged 65% from the prior year, signaling strong growth momentum. The organization ran a surplus of $974K, a strong 20% operating margin.

Mission

BAINBRIDGE ISLAND MUSEUM OF ART INSPIRES CURIOSITY, WONDER AND UNDERSTANDING BY CONNECTING PEOPLE WITH THE CONTEMPORARY ART AND CRAFT OF THE PUGET SOUND REGION.

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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 $4,022,072

Program Service Revenue $119,076

Investment Income $735,892

Other Revenue $115,202

TOTAL REVENUE $4,992,242

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,631,732

Fundraising Expenses $677,912

Program Expenses $2,150,274

Other Expenses $1,386,762

TOTAL EXPENSES $4,018,494

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,992,242	$3,031,322	+0.6%
Expenses	$4,018,494	$3,981,102	+0.0%
Net Income	$973,748	$-949,780	-2.0%

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

175

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

$315,539

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SUZANNA DARCY	BOARD PRESIDENT & VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
CHASITY MALATESTA	VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
DANA QUITSLUND	TREASURER	10.00	Officer Director	$0	$0	$0
JOAN WALTERS	SECRETARY	5.00	Officer Director	$0	$0	$0
JOE WILCYNSKI	PRESIDENT (THRU 09/24)	5.00	Officer Director	$0	$0	$0
JANA MOHR LONE	TRUSTEE	5.00	Director	$0	$0	$0
ERICA BEYER	TRUSTEE	5.00	Director	$0	$0	$0
WENDY ORVILLE	TRUSTEE	5.00	Director	$0	$0	$0
CYNTHIA SEARS	TRUSTEE	5.00	Director	$0	$0	$0
KIMI KINOSHITA	TRUSTEE	5.00	Director	$0	$0	$0
MARK LEVINE	TRUSTEE	5.00	Director	$0	$0	$0
KATHY NIBARGER	TRUSTEE	5.00	Director	$0	$0	$0
DAVID LEWIS	TRUSTEE	5.00	Director	$0	$0	$0
RALPH SIEGEL	TRUSTEE	10.00	Director	$0	$0	$0
BRIAN MARKS	TRUSTEE	5.00	Director	$0	$0	$0
LIZ WALTERS	TRUSTEE	5.00	Director	$0	$0	$0
ANN UNDERWOOD	TRUSTEE	5.00	Director	$0	$0	$0
THANGAM CHANDRASEKARAN	TRUSTEE	4.00	Director	$0	$0	$0
CYNTHIA HIBBARD	TRUSTEE	5.00	Director	$0	$0	$0
MICHAEL STEVENSON	TRUSTEE	10.00	Director	$0	$0	$0
KATHERINE DE BRUYN	TRUSTEE	5.00	Director	$0	$0	$0
SHELBY STONER	TRUSTEE	5.00	Director	$0	$0	$0
SHEILA HUGHES	EXECUTIVE DIRECTOR	40.00	Officer	$293,013	$22,526	$315,539
EDEN HALL	DIRECTOR OF BUSINESS AND FINANCE	40.00	Highest	$106,978	$11,022	$118,000
GREG ROBINSON	CHIEF CURATOR	40.00	Highest	$133,687	$16,092	$149,779
KORUM BISCHOFF	DEPUTY DIRECTOR	40.00	Highest	$133,375	$16,119	$149,494

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	$4,992,242	$4,018,494	$24,762,499	$973,748
2023	$3,031,322	$3,981,102	$22,904,079	$-949,780
2022	$5,766,737	$3,600,127	$22,818,029	$2,166,610
2021	$6,953,259	$3,113,696	$22,932,291	$3,839,563
2020	$2,672,018	$2,747,511	$19,171,950	$-75,493
2019	$3,689,495	$3,323,702	$18,799,745	$365,793
2018	$3,379,864	$3,133,848	$18,003,675	$246,016

BAINBRIDGE ISLAND MUSEUM OF ART