GOODWOOD MUSEUM AND GARDENS 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

1996

Legal Domicile

Principal Officer

DEBORAH CHAVES

Phone

8508774202

Tax Period

2023-01-01 to 2023-12-31

GOODWOOD MUSEUM AND GARDENS INC, founded in 1996, is a small nonprofit in the Arts, Culture & Humanities sector that reported $562K in total revenue in fiscal year 2023. Revenue fell 29% from the prior year — a significant decline worth monitoring. Net assets of $6.0M represent 129 months of operating reserves.

Mission

GOODWOOD MUSEUM & GARDENS CONNECTS OUR COMMUNITY AS A SETTING WHERE WE PRESERVE AND SHARE OUR HISTORY, ENJOY THE ARTS, AND CELEBRATE SIGNIFICANT EVENTS IN OUR LIVES.

Program Service Accomplishments

Program 1

Expenses: $454,091 Revenue: $73,251

TO PERMIT LOCAL COMMUNITY LEADERS TO PARTICIPATE IN THE OPERATION AND MANAGEMENT OF THE MUSEUM AND TO EDUCATE THE COMMUNITY ABOUT THE HISTORICAL SIGNIFICANCE OF LIFE, HORTICULTURE, ARTWORK AND...

TO PERMIT LOCAL COMMUNITY LEADERS TO PARTICIPATE IN THE OPERATION AND MANAGEMENT OF THE MUSEUM AND TO EDUCATE THE COMMUNITY ABOUT THE HISTORICAL SIGNIFICANCE OF LIFE, HORTICULTURE, ARTWORK AND LITERATURE OF EARLIER ERAS. MAINTAINED THE HOUSE MUSEUM WHICH IS OPEN FOR TOURS 5 DAYS A WEEK (TUESDAY-SATURDAY) MAINTAINED THE GROUND GARDENS WHICH ARE AVAILABLE FOR TOURS 6 DAYS A WEEK.

Program 2

PATHWAYS TO WELLNESS WHICH AIMS TO DEVELOP AND IMPLEMENT ACTIVE DESIGN STRATEGIES TO BUILD A CONNECTION BETWEEN GOODWOOD'S HISTORIC LANDSCAPE AND THE SURROUNDING NEIGHBORHOODS AND MEDICAL DISTRICT...

PATHWAYS TO WELLNESS WHICH AIMS TO DEVELOP AND IMPLEMENT ACTIVE DESIGN STRATEGIES TO BUILD A CONNECTION BETWEEN GOODWOOD'S HISTORIC LANDSCAPE AND THE SURROUNDING NEIGHBORHOODS AND MEDICAL DISTRICT. CAPITALIZE ON WORKSHOP MOMENTUM BY IMPLEMENTING FOUNDATIONAL ELEMENTS OF THAT VISION.

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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 $327,008

Program Service Revenue $73,251

Investment Income $7,469

Other Revenue $154,322

TOTAL REVENUE $562,050

Expense Breakdown

Grants Paid $0

Salaries & Benefits $165,749

Fundraising Expenses $52,609

Program Expenses $454,091

Other Expenses $447,267

TOTAL EXPENSES $613,016

Year-over-Year Comparison

	2023	2022	Change
Revenue	$562,050	$792,627	-0.3%
Expenses	$613,016	$501,366	+0.2%
Net Income	$-50,966	$291,261	-1.2%

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

200

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

$53,769

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARY BEDFORD	CHAIR/INTERI	5.00	Officer Director	$0	$0	$0
NAN O'KELLEY	SECRETARY	5.00	Officer Director	$0	$0	$0
RICHESIN HEITMEYER	DIRECTOR	2.00	Director	$0	$0	$0
NIGEL ALLEN	DIRECTOR	2.00	Director	$0	$0	$0
PHYLLIS ASZTALOS	DIRECTOR	2.00	Director	$0	$0	$0
KEITH BOWERS	DIRECTOR	2.00	Director	$0	$0	$0
PAULA CARROLL	DIRECTOR	2.00	Director	$0	$0	$0
DEBORAH CHAVES	AT LARGE	2.00	Director	$0	$0	$0
ELIZABETH DESLOGE ELLIS	DIRECTOR	2.00	Director	$0	$0	$0
LAVERNE WELLS-BOWIE	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT LOTANE	DIRECTOR	2.00	Director	$0	$0	$0
MAXIM NASAB	DIRECTOR	2.00	Director	$0	$0	$0
GREGG PATTERSON	TREASURER	5.00	Officer Director	$0	$0	$0
WILLIAM WALTER	DIRECTOR	2.00	Director	$0	$0	$0
MELISSA WYLLIE	DIRECTOR	2.00	Director	$0	$0	$0
PAMELA DOFFEK	DIRECTOR	2.00	Director	$0	$0	$0
JENNIFER HUMAYUN	FORMER ED	40.00	Officer	$53,769	$0	$53,769

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	$562,050	$613,016	$7,187,573	$-50,966
2022	$792,627	$501,366	$7,250,441	$291,261
2021	$611,636	$416,256	$6,955,109	$195,380
2020	$481,859	$406,636	$6,744,454	$75,223
2019	$662,937	$512,001	$6,652,156	$150,936
2018	$879,282	$479,769	$6,519,641	$399,513