ROCKFORD ART MUSEUM

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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

1913

Legal Domicile

Principal Officer

DON ZWIEFELHOFER

Phone

8159682787

Tax Period

2023-01-01 to 2023-12-31

ROCKFORD ART MUSEUM, founded in 1913, is a small nonprofit in the Arts, Culture & Humanities sector that reported $765K in total revenue in fiscal year 2023. Revenue surged 71% from the prior year, signaling strong growth momentum. The organization ran a surplus of $193K, a strong 25% operating margin.

Mission

TO ENRICH THE QUALITY OF LIFE FOR PEOPLE OF ALL AGES BY COMMUNICATING THE PLEASURE, APPRECIATION AND MEANING OF VISUAL ARTS THROUGH PROGRAMS OF COLLECTION, EXHIBITION AND EDUCATION.

Program Service Accomplishments

Program 1

Expenses: $226,578

COLLECTS AND MAINTAINS ARTIFACTS FOR THE CULTURAL ENRICHMENT OF THE COMMUNITY. OFFERS A COMPREHENSIVE EXHIBITION PROGRAM OF HISTORICAL AND CONTEMPORARY ART. OFFERS LECTURES, GALLERY WALKS IN...

COLLECTS AND MAINTAINS ARTIFACTS FOR THE CULTURAL ENRICHMENT OF THE COMMUNITY. OFFERS A COMPREHENSIVE EXHIBITION PROGRAM OF HISTORICAL AND CONTEMPORARY ART. OFFERS LECTURES, GALLERY WALKS IN CONJUNCTION WITH CHANGING EXHIBITIONS, AND CLASSES TO EDUCATE THE PUBLIC IN VARIOUS ART MEDIA. THE MUSEUM HAS INITIATED SUCH UNIQUE PROGRAMS AS TERRIFIC TUESDAYS, FABULOUS FINE ARTS FRIDAY, CAMP COLLAGE AND THE ONGOING ARTIST-IN-RESIDENCE PROGRAM DESIGNED TO SUPPORT THE STRONG PARTNERSHIP BETWEEN THE MUSEUM AND THE AREA'S HOME SCHOOLED AND EDUCATIONAL INSTITUTIONS. TOTAL ATTENDANCE FOR 2023 WAS APPROXIMATELY 14,535.

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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 $595,806

Program Service Revenue $10,416

Investment Income $127,564

Other Revenue $30,863

TOTAL REVENUE $764,649

Expense Breakdown

Grants Paid $0

Salaries & Benefits $242,900

Fundraising Expenses $50,290

Program Expenses $226,578

Other Expenses $328,250

TOTAL EXPENSES $571,150

Year-over-Year Comparison

	2023	2022	Change
Revenue	$764,649	$447,367	+0.7%
Expenses	$571,150	$656,654	-0.1%
Net Income	$193,499	$-209,287	-1.9%

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

250

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

$98,336

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CARRIE JOHNSON	EXECUTIVE DI	40.00	Officer	$87,768	$10,568	$98,336
RICHARD BEHR	TRUSTEE EMER	1.00	Director	$0	$0	$0
KERI BENHOFF	PRESIDENT	2.00	Officer Director	$0	$0	$0
JIM BENNETT	TRUSTEE	1.00	Director	$0	$0	$0
ANNE BOCCIGNONE	SUPPORT GROU	1.00	Director	$0	$0	$0
DAVID BOCCIGNONE	PAST PRESIDE	1.00	Officer Director	$0	$0	$0
STEVE BOIS	TRUSTEE	1.00	Director	$0	$0	$0
JORDAN CALGARO	TRUSTEE	1.00	Director	$0	$0	$0
TODD FISCHER-FREE	TRUSTEE	1.00	Director	$0	$0	$0
ROB FUNDERBURG	TRUSTEE EMER	1.00	Director	$0	$0	$0
GREG HARLAN	TREASURER	2.00	Officer Director	$0	$0	$0
MATT HERBIG	TRUSTEE	1.00	Director	$0	$0	$0
JOHN HOLEVAS	TRUSTEE	1.00	Director	$0	$0	$0
JERRY KORTMAN	TRUSTEE	1.00	Director	$0	$0	$0
LISA LINDMAN	TRUSTEE	1.00	Director	$0	$0	$0
DANA MARTIN	TRUSTEE	1.00	Director	$0	$0	$0
STEVE PITKIN	TRUSTEE	1.00	Director	$0	$0	$0
DANIEL G SAAVEDRA	TRUSTEE	1.00	Director	$0	$0	$0
HOLLY SQUICCIARINI	SECRETARY	2.00	Officer Director	$0	$0	$0
JACK WHEELER	TRUSTEE	1.00	Director	$0	$0	$0
DON ZWIEFELHOFER	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
2024	No data	No data	No data	No data
2023	$764,649	$571,150	$10,810,377	$193,499
2022	$447,367	$656,654	$4,156,947	$-209,287
2021	$671,531	$581,568	$4,858,361	$89,963
2020	$613,339	$600,261	$4,443,312	$13,078
2019	$827,404	$721,692	$4,136,546	$105,712
2018	$611,110	$709,570	$3,646,686	$-98,460