MUSEUM OF CONTEMPORARY ART CLEVELAND (EIN 341148828) - 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

1968

Legal Domicile

Principal Officer

STEPHEN G SOKANY

Phone

2164218671

Tax Period

2023-08-01 to 2024-07-31

MUSEUM OF CONTEMPORARY ART CLEVELAND, founded in 1968, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.8M in total revenue in fiscal year 2023. Revenue fell 29% from the prior year — a significant decline worth monitoring. Expenses of $3.7M exceeded revenue, resulting in a 32% operating deficit.

Mission

THE MUSUEM OF CONTEMPORARY ART CLEVELAND IS A UNIQUE AND DYNAMIC PLACE FOR THE VISUAL ART OF OUR TIME. WE CHALLENGE, INSPIRE, AND TEACH A WIDE RANGE OF AUDIENCES. OUR PURPOSE IS TO PUSH THE BOUNDARIES OF INNOVATION, CREATIVITY, AND EXPLORATION THROUGH EXHIBITIONS, PUBLICATIONS, EDUCATION, AND OUTREACH PROGRAMS.

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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 $2,179,393

Program Service Revenue $32,125

Investment Income $507,618

Other Revenue $81,036

TOTAL REVENUE $2,800,172

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,643,886

Fundraising Expenses $698,969

Program Expenses $2,554,064

Other Expenses $2,064,282

TOTAL EXPENSES $3,708,168

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,800,172	$3,922,500	-0.3%
Expenses	$3,708,168	$3,705,683	+0.0%
Net Income	$-907,996	$216,817	-5.2%

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

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

$184,888

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEPHEN G SOKANY	PRESIDENT	2.00	Director	$0	$0	$0
MARCELLA BROWN	VICE-PRESIDENT	2.00	Director	$0	$0	$0
NADYA HAIDER	SECRETARY	1.00	Director	$0	$0	$0
NICHOLAS REIF	TREASURER	1.00	Director	$0	$0	$0
KUMAR ARORA	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT BOGARD	DIRECTOR	1.00	Director	$0	$0	$0
F ALLEN BOSEMAN JR	DIRECTOR	1.00	Director	$0	$0	$0
TIM BOYLE	DIRECTOR	1.00	Director	$0	$0	$0
DICK CAHOON	DIRECTOR	1.00	Director	$0	$0	$0
JOANNE COHEN	DIRECTOR	1.00	Director	$0	$0	$0
GROSVIE COOLEY	DIRECTOR	1.00	Director	$0	$0	$0
LESLIE DUNN	DIRECTOR	1.00	Director	$0	$0	$0
KATY DIX BRAHLER	DIRECTOR	1.00	Director	$0	$0	$0
LESLIE DINOVI	DIRECTOR	1.00	Director	$0	$0	$0
NICOLE FINLEY	DIRECTOR	1.00	Director	$0	$0	$0
JOSEPH M GRUNFELD	DIRECTOR	1.00	Director	$0	$0	$0
J BENNETT GUESS	DIRECTOR	1.00	Director	$0	$0	$0
KAREN HILLENBRAND	DIRECTOR	1.00	Director	$0	$0	$0
DONALD INSUL	DIRECTOR	1.00	Director	$0	$0	$0
MICHELLE SHAN JESCHELNIG	DIRECTOR	1.00	Director	$0	$0	$0
AUDRA T JONES	DIRECTOR	1.00	Director	$0	$0	$0
PAUL KATZ	DIRECTOR	1.00	Director	$0	$0	$0
JONATHAN KURTZ	DIRECTOR	1.00	Director	$0	$0	$0
DAVID LAMB	DIRECTOR	1.00	Director	$0	$0	$0
CASEY MONDA	DIRECTOR	1.00	Director	$0	$0	$0
LARRY OSCAR	DIRECTOR	1.00	Director	$0	$0	$0
JAMES STONE	DIRECTOR	1.00	Director	$0	$0	$0
HARRIET WARM	DIRECTOR	1.00	Director	$0	$0	$0
MEGAN L LYKINS REICH	EXECUTIVE DIRECTOR	50.00	Officer	$184,888	$0	$184,888

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	$2,800,172	$3,708,168	$24,776,964	$-907,996
2023	$3,922,500	$3,705,683	$26,326,355	$216,817
2022	$3,139,780	$3,253,029	$25,994,553	$-113,249
2021	$2,174,653	$3,372,605	$27,997,238	$-1,197,952
2020	$2,584,887	$4,491,881	$28,257,119	$-1,906,994
2019	$4,371,888	$3,645,757	$37,874,533	$726,131
2018	$11,758,204	$4,137,343	$38,166,984	$7,620,861

MUSEUM OF CONTEMPORARY ART CLEVELAND