FRIENDS OF THE MUSEUMS INC

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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

1982

Legal Domicile

Principal Officer

ERIN AUGENSTEIN

Phone

7403733750

Tax Period

2023-07-01 to 2024-06-30

FRIENDS OF THE MUSEUMS INC, founded in 1982, is a small nonprofit that reported $371K in total revenue in fiscal year 2023. Revenue fell 28% from the prior year — a significant decline worth monitoring. Expenses of $349K left a modest 6% surplus.

Mission

THE ORGANIZATION MAINTAINS THE OPERATIONS OF THE CAMPUS MARTIUS AND OHIO RIVER MUSEUMS FOR THE OHIO HISTORY CONNECTION. OPERATION OF THE MUSEUMS INCLUDES EDUCATIONAL PROGRAMS, CHANGING/UPDATING EXHIBITS, FINANCING TRANSPORTATION FOR SCHOOL GROUPS AND TRAINING DOCENTS AND ADMINISTRATIVE STAFF.

Program Service Accomplishments

Program 1

Expenses: $183,272 Revenue: $318,944

THE ORGANIZATION MAINTAINS THE OPERATIONS OF THE CAMPUS MARTIUS AND OHIO RIVER MUSEUMS FOR THE OHIO HISTORY CONNECTION. OPERATION OF THE MUSEUMS INCLUDES EDUCATIONAL PROGRAMS, CHANGING/UPDATING...

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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 $42,490

Program Service Revenue $66,463

Investment Income $8,689

Other Revenue $253,106

TOTAL REVENUE $370,748

Expense Breakdown

Grants Paid $0

Salaries & Benefits $216,787

Fundraising Expenses $0

Program Expenses $183,272

Other Expenses $131,869

TOTAL EXPENSES $348,656

Year-over-Year Comparison

	2023	2022	Change
Revenue	$370,748	$512,349	-0.3%
Expenses	$348,656	$388,145	-0.1%
Net Income	$22,092	$124,204	-0.8%

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

Volunteers

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

$60,500

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ADAM SCHWENDEMAN	SECOND VICE CHAIR	5.00	Officer Director	$0	$0	$0
KEVIN RITTER	MUSEUM CHAIR	2.50	Officer Director	$0	$0	$0
LARRY CLAYMAN	TREASURER	2.50	Officer Director	$0	$0	$0
CHERYL COOK	SECRETARY	4.00	Officer Director	$0	$0	$0
CHARLOTTE KEIM	1ST VICE CHAIR	1.30	Officer Director	$0	$0	$0
JARED PERRY	BOARD MEMBER	1.30	Director	$0	$0	$0
JJ SANDS	BOARD MEMBER	1.30	Director	$0	$0	$0
KELLI LEWIS	BOARD MEMBER	1.30	Director	$0	$0	$0
PHILIP SCHAFFER	BOARD MEMBER	1.30	Director	$0	$0	$0
RICK DOSTAL	BOARD MEMBER	1.30	Director	$0	$0	$0
CATHY MOWRER WINDLAND	BOARD MEMBER	1.30	Director	$0	$0	$0
AGGIE RUPP	BOARD MEMBER	1.30	Director	$0	$0	$0
ERIN AUGENSTEIN	EXECUTIVE DIRECTOR	40.00	Officer	$60,500	$0	$60,500

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	No data	No data	No data	No data
2024	$370,748	$348,656	$480,029	$22,092
2023	$512,349	$388,145	$452,633	$124,204
2022	$416,927	$329,165	$332,108	$87,762
2021	$300,372	$292,286	$334,008	$8,086
2020	$274,143	$276,048	$307,272	$-1,905
2019	$325,744	$302,794	$270,213	$22,950
2018	$272,526	$281,465	$226,053	$-8,939