CLEVELAND, OH
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)CLEVELAND MUSEUM OF ART, founded in 1913, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $84.4M in total revenue in fiscal year 2024. Revenue fell 35% from the prior year — a significant decline worth monitoring. Expenses of $106.9M exceeded revenue, resulting in a 27% operating deficit.
THE MISSION OF THE CLEVELAND MUSEUM OF ART (CMA) IS TO FULFILL ITS DUAL ROLES AS ONE OF THE WORLD'S MOST DISTINGUISHED COMPREHENSIVE ART MUSEUMS AND AS ONE OF NORTHEASTERN OHIO'S PRINCIPAL CIVIC AND CULTURAL INSTITUTIONS. THE MUSEUM, ESTABLISHED IN 1913 "FOR THE BENEFIT OF ALL THE PEOPLE FOREVER," * SEEKS TO BRING THE PLEASURE AND MEANING OF ART TO THE BROADEST POSSIBLE AUDIENCE IN ACCORDANCE WITH THE HIGHEST AESTHETIC, INTELLECTUAL AND PROFESSIONAL STANDARDS. TOWARD THIS END THE MUSEUM AUGMENTS, PRESERVES, EXHIBITS AND FOSTERS UNDERSTANDING OF THE OUTSTANDING COLLECTIONS OF WORLD ART IT HOLDS IN TRUST FOR THE PUBLIC AND PRESENTS COMPLEMENTARY EXHIBITIONS AND PROGRAMS. THE CLEVELAND MUSEUM OF ART EMBRACES ITS LEADERSHIP ROLE IN COLLECTING, SCHOLARSHIP, EDUCATION AND COMMUNITY SERVICE. (* J.H. WADE II, ACT OF CONVEYANCE OF LAND TO BE USED FOR THE CMA.)
ART ACQUISITIONS (SEE SCHEDULE O).
CURATORIAL, CONSERVATION, REGISTRAR AND LIBRARY (SEE SCHEDULE O).
SPECIAL EXHIBITIONS THE MUSEUM IS A SIGNIFICANT INTERNATIONAL FORUM FOR EXHIBITS. THE IMPROVED AND EXPANDED SPECIAL EXHIBITION SPACES MAKES CLEVELAND A DESIRABLE DESTINATION FOR PREEMINENT LOAN...
SPECIAL EXHIBITIONS THE MUSEUM IS A SIGNIFICANT INTERNATIONAL FORUM FOR EXHIBITS. THE IMPROVED AND EXPANDED SPECIAL EXHIBITION SPACES MAKES CLEVELAND A DESIRABLE DESTINATION FOR PREEMINENT LOAN EXHIBITIONS, BRINGING THE BEST ART FROM AROUND THE WORLD TO THE PEOPLE OF THE REGION. HISTORICALLY, THE MUSEUM HAS SHOWCASED BETWEEN 13 AND 17 SPECIAL EXHIBITIONS PER YEAR, STAGING TEMPORARY EXHIBITIONS THAT DRAW FROM ITS PERMANENT COLLECTION AS WELL AS SHOWCASING INTERNATIONAL LOAN SHOWS.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $84,403,647 | $129,112,072 | -0.3% |
| Expenses | $106,901,249 | $82,988,778 | +0.3% |
| Net Income | $-22,497,602 | $46,123,294 | -1.5% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| ELLEN STIRN MAVEC | CHAIR & BOARD MEMBER | 1.0 |
Officer
Director
|
$0 | $0 | $0 |
| JAMES A RATNER | VICE CHAIR & BOARD MEMBER | 1.0 |
Officer
Director
|
$0 | $0 | $0 |
| MICHELLE JESCHELNIG | SECRETARY & BOARD MEMBER | 1.0 |
Officer
Director
|
$0 | $0 | $0 |
| VIRGINIA N BARBATO | VICE CHAIR & BOARD MEMBER | 1.0 |
Officer
Director
|
$0 | $0 | $0 |
| WILLIAM M GRISWOLD | DIR & PRESIDENT | 40.0 |
Officer
Director
|
$1,690,196 | $28,693 | $1,718,889 |
| AGNES GUND | BOARD MEMBER (END 9/2025) | 1.0 |
Director
|
$0 | $0 | $0 |
| CHRISTOPHER GORMAN | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| DANIEL P WALSH JR | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| DOMINIC OZANNE | BOARD MEMBER (END 9/2024) | 1.0 |
Director
|
$0 | $0 | $0 |
| DOUGLAS KERN | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| EDWARD HEMMELGARN | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| FELTON THOMAS | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| FREDERICK E BIDWELL | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| HELEN FORBES FIELDS | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| JOHN SAUERLAND | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| JOHN WALTON | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| JON H OUTCALT | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| JULIA POLLOCK | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| KASHIM SKEETE | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| KATHERINE TEMPLETON O'NEILL | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| LAUREN RICH FINE | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| LEIGH HAYES CARTER | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| LOYAL M WILSON | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| MANISHA SETHI | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| MICHAEL NOVAK | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| MILTON MALTZ | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| NANCY F KEITHLEY | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| PAUL E WESTLAKE JR | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| PETER E RASKIND | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| R STEVEN KESTNER | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| REBECCA CARMI | BOARD MEMBER (BEGIN 9/2024) | 1.0 |
Director
|
$0 | $0 | $0 |
| REBECCA HELLER | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| REV JAWANZA K COLVIN | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| RICHARD P STOVSKY | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| SALLY GRIES | BOARD MEMBER (BEGIN 12/2024) | 1.0 |
Director
|
$0 | $0 | $0 |
| SARAH NASH | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| SARAH S CUTLER | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| SCOTT C MUELLER | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| STEPHEN E MYERS | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| STEPHEN W BAILEY | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| WILLIAM LITZLER | BOARD MEMBER | 1.0 |
Director
|
$0 | $0 | $0 |
| ANNAPURNA VALLURI PHD | TREASURER & CFO | 40.0 |
Officer
|
$230,192 | $11,902 | $242,094 |
| RUSSELL J KLIMCZUK | ASST TREASURER & DIR FINANCE | 40.0 |
Officer
|
$129,669 | $28,886 | $158,555 |
| STEPHEN J KNERLY JR | ASSISTANT SECRETARY | 1.0 |
Officer
|
$0 | $0 | $0 |
| BRUCE LOESSIN | CHIEF PHILANTHROPY OFFICER | 40.0 |
Key Emp
|
$373,224 | $34,130 | $407,354 |
| HEATHER L BROWN | DD & CHIEF CURATOR (END 04/2024) | 40.0 |
Key Emp
|
$168,604 | $37,379 | $205,983 |
| HEIDI STREAN | DIR EXHIBITIONS & PUBLICATIONS | 40.0 |
Key Emp
|
$181,271 | $44,070 | $225,341 |
| JANE C ALEXANDER | CHIEF INFORMATION OFFICER | 40.0 |
Key Emp
|
$223,024 | $25,350 | $248,374 |
| LISA S CODISPOTI | CHIEF OPERATING & PEOPLE OFFICER | 40.0 |
Key Emp
|
$288,122 | $35,975 | $324,097 |
| SARAH L SCATURRO | INTERIM CO-CHIEF CURATOR | 40.0 |
Key Emp
|
$259,056 | $22,716 | $281,772 |
| SETH PEVNICK | INTERIM CO-CHIEF CURATOR | 40.0 |
Key Emp
|
$180,695 | $10,079 | $190,774 |
| TODD C MESEK | CHIEF MARKETING OFFICER | 40.0 |
Key Emp
|
$228,888 | $12,386 | $241,274 |
| CARRIE M TOLLEFSON | DIR OF MAJOR & PLANNED GIVING | 40.0 |
Highest
|
$176,663 | $28,604 | $205,267 |
| CLARISSA GRAFIN VON SPEE | CURATOR CHINESE ART | 40.0 |
Highest
|
$136,097 | $18,893 | $154,990 |
| DENISE D GRCEVICH | SR DIR STRATEGIC PHILAN | 40.0 |
Highest
|
$141,494 | $32,347 | $173,841 |
| JACQUELYN SAWYER | CHIEF LEARNING OFFICER (BEGIN 6/2024) | 40.0 |
Highest
|
$131,552 | $11,887 | $143,439 |
| PAUL B KRENISKY | DIRECTOR OF FACILITIES | 40.0 |
Highest
|
$128,033 | $36,889 | $164,922 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2025 | $84,403,647 | $106,901,249 | $1,442,466,569 | $-22,497,602 |
| 2024 | $129,112,072 | $82,988,778 | $1,371,445,046 | $46,123,294 |
| 2023 | $102,901,148 | $68,669,220 | $1,247,808,743 | $34,231,928 |
| 2022 | $74,298,172 | $68,033,512 | $1,170,073,993 | $6,264,660 |
| 2021 | $90,038,138 | $62,388,046 | $1,319,088,329 | $27,650,092 |
| 2020 | $68,797,597 | $64,202,417 | $1,135,564,267 | $4,595,180 |
| 2019 | $64,181,102 | $71,901,495 | $1,178,228,331 | $-7,720,393 |
| 2018 | $63,828,650 | $64,766,517 | $1,194,370,696 | $-937,867 |
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