RICHMOND ART MUSEUM

EIN: 356005040 501(c)(3) Arts, Culture & Humanities

RICHMOND, IN

Total Revenue
$670,444
Total Expenses
$506,234
Total Assets
$2,747,380
Net Assets
$2,742,131
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1898
Legal Domicile
IN
Principal Officer
SHAUN DINGWERTH
Phone
7659660256
Tax Period
2024-06-01 to 2025-05-31

RICHMOND ART MUSEUM, founded in 1898, is a small nonprofit in the Arts, Culture & Humanities sector that reported $670K in total revenue in fiscal year 2024. Revenue surged 27% from the prior year, signaling strong growth momentum. The organization ran a surplus of $164K, a strong 24% operating margin.

Mission

PROMOTE ART CULTURE/APPRECIATION

Program Service Accomplishments

Program 1
Expenses: $354,182 Revenue: $114,559

TO PROMOTE ART CULTURE & ENCOURAGE APPRECIATION OF ART AMONG CITIZENS THROUGHOUT THE COMMUNITY, ESPECIALLY YOUNG PEOPLE IN RICHMOND SCHOOLS BY PROVIDING FREE EXHIBITS OF ALL MEDIA OF ART IN THE...

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TO PROMOTE ART CULTURE & ENCOURAGE APPRECIATION OF ART AMONG CITIZENS THROUGHOUT THE COMMUNITY, ESPECIALLY YOUNG PEOPLE IN RICHMOND SCHOOLS BY PROVIDING FREE EXHIBITS OF ALL MEDIA OF ART IN THE GALLERIES OF MCGUIRE HALL. IN ADDITION TO EXHIBITS, THE MUSEUM OFFERS EDUCATIONAL CLASSES, LECTURES, WORKSHOPS, ETC. AND MAINTAINS A PERMANENT COLLECTION OF AMERICAN & FOREIGN ART WORK. APPROX. 12,609 INDIVIDUALS BENEFITED.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $244,929
Program Service Revenue $107,276
Investment Income $232,462
Other Revenue $85,777
TOTAL REVENUE $670,444

Expense Breakdown

Grants Paid $0
Salaries & Benefits $253,264
Fundraising Expenses $43,031
Program Expenses $354,182
Other Expenses $252,970
TOTAL EXPENSES $506,234

Year-over-Year Comparison

2024 2023 Change
Revenue $670,444 $528,388 +0.3%
Expenses $506,234 $506,073 +0.0%
Net Income $164,210 $22,315 +6.4%
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

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Liquidity & Cash Position

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Governance

Voting Members
19
Independent Members
19
Employees
5
Volunteers
73

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
7
$126,506
Total Directors
20
$126,506
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
NICOLE STULTS PRESIDENT 1.00
Officer Director
$0 $0 $0
TOM ALBERTS TRUSTEE EMERITUS 1.00
Director
$0 $0 $0
MARILYN MARTUS TRUSTEE EMERITUS 1.00
Director
$0 $0 $0
JENNIFER LEWIS 1ST VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
BARRY JOHNSTON TRUSTEE EMERITUS 1.00
Director
$0 $0 $0
ROBIN HENRY TREASURER 1.00
Officer Director
$0 $0 $0
ANNA GOLDEN TRUSTEE 1.00
Director
$0 $0 $0
CHERI JETMORE TRUSTEE 1.00
Director
$0 $0 $0
KEVIN MCCURDY TRUSTEE 1.00
Director
$0 $0 $0
BECKY DIMICK-EASTMAN TRUSTEE 1.00
Director
$0 $0 $0
MARY ANN DAVIS SPECIAL ADVISOR 1.00
Officer Director
$0 $0 $0
MARCIA FOSTER 2ND VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
CHRIS EVRARD SECRETARY 1.00
Officer Director
$0 $0 $0
GINGER GRAY TRUSTEE 1.00
Director
$0 $0 $0
ANNETTE WARFEL TRUSTEE 1.00
Director
$0 $0 $0
KATHY GIRTEN TRUSTEE 1.00
Director
$0 $0 $0
KATHY KHAMIS TRUSTEE 1.00
Director
$0 $0 $0
SHAUN DINGWERTH EXECUTIVE DIRECTOR 40.00
Officer Director
$91,731 $34,775 $126,506
SUZANNE COX TRUSTEE 1.00
Director
$0 $0 $0
JENNIFER NORTH TRUSTEE 1.00
Director
$0 $0 $0
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 $670,444 $506,234 $2,747,380 $164,210
2024 $528,388 $506,073 $2,699,368 $22,315
2023 $521,342 $521,421 $2,557,887 $-79
2022 $637,267 $483,509 $2,596,518 $153,758
2021 $562,114 $458,154 $2,874,941 $103,960
2020 $511,869 $501,308 $2,958,894 $10,561
2019 $380,270 $437,307 $2,936,666 $-57,037
2018 $410,878 $392,618 $3,224,936 $18,260
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