ILLINOIS STATE MUSEUM SOCIETY

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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

1952

Legal Domicile

Principal Officer

BRYAN FINN

Phone

2177826092

Tax Period

2023-07-01 to 2024-06-30

ILLINOIS STATE MUSEUM SOCIETY, founded in 1952, is a small nonprofit in the Arts, Culture & Humanities sector that reported $550K in total revenue in fiscal year 2023. Revenue fell 28% from the prior year — a significant decline worth monitoring. Expenses of $773K exceeded revenue, resulting in a 40% operating deficit.

Mission

THE ILLINOIS STATE MUSEUM SOCIETY, ESTABLISHED IN 1952, IS A CHARITABLE ORGANIZATION RECOGNIZED AS A 501(C)(3) NONPROFIT. IT PLAYS A CRUCIAL ROLE IN SUPPORTING THE ILLINOIS STATE MUSEUM BY PROVIDING FINANCIAL RESOURCES AND ADVOCATING FOR ITS PROGRAMS, EXHIBITIONS, AND OPERATIONS. THE SOCIETY ALSO OFFERS OPPORTUNITIES FOR INDIVIDUALS AND ORGANIZATIONS INTERESTED IN EXPLORING AND RESEARCHING ILLINOIS' CULTURAL AND NATURAL HERITAGE.

Program Service Accomplishments

Program 1

Expenses: $405,447 Revenue: $35,764

THE SOCIETY HAS DEVELOPED A STRONG PARTNERSHIP WITH THE ILLINOIS STATE MUSEUM AND ITS COMMUNITY PARTNERS. IT RUNS A MEMBERSHIP PROGRAM AND BOTH ONLINE AND PHYSICAL RETAIL OPERATIONS. ADDITIONALLY...

THE SOCIETY HAS DEVELOPED A STRONG PARTNERSHIP WITH THE ILLINOIS STATE MUSEUM AND ITS COMMUNITY PARTNERS. IT RUNS A MEMBERSHIP PROGRAM AND BOTH ONLINE AND PHYSICAL RETAIL OPERATIONS. ADDITIONALLY, FUNDING FROM THE SOCIETY SUPPORTS CURATION, DIGITIZATION, EDUCATIONAL PROGRAMMING, AND THE PROMOTION OF THE ILLINOIS STATE MUSEUM SYSTEM.FUNDING FROM GRANTS, FUNDRAISERS, AND INDIVIDUAL DONORS ALLOWS THE MUSEUM TO CREATE NEW EXHIBITIONS EACH YEAR AND HOST COMMUNITY EVENTS LIKE THE ANNUAL DA DE LOS MUERTOS FAMILY DAY AND NOIR ART SHOW. TOGETHER, WE SECURE SIGNIFICANT GRANTS FOR TRANSFORMATIVE PROJECTS, INCLUDING THE 1908 FOOTPRINT AT THE SPRINGFIELD-SANGAMON COUNTY TRANSPORTATION HUB.

Program 2

Expenses: $130,407 Revenue: $30,966

THE SOCIETY MANAGES THE MEMBERSHIP PROGRAM FOR THE ILLINOIS STATE MUSEUM, PROVIDING INDIVIDUALS AND FAMILIES WITH THE OPPORTUNITY TO ENGAGE WITH ILLINOIS' RICH NATURAL AND CULTURAL HERITAGE. MEMBERS RECEIVE INVITATIONS TO EXHIBITION OPENINGS AND SPECIAL EVENTS, ALLOWING THEM TO INTERACT WITH CURATORS, JOIN FIELD TRIPS, AND ENJOY BEHIND-THE-SCENES TOURS FOR A MORE IN-DEPTH EXPLORATION AND UNDERSTANDING OF ILLINOIS' HISTORY.

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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 $423,932

Program Service Revenue $34,902

Investment Income $63,042

Other Revenue $28,045

TOTAL REVENUE $549,921

Expense Breakdown

Grants Paid $0

Salaries & Benefits $454,327

Fundraising Expenses $24,893

Program Expenses $535,854

Other Expenses $318,222

TOTAL EXPENSES $772,549

Year-over-Year Comparison

	2023	2022	Change
Revenue	$549,921	$760,471	-0.3%
Expenses	$772,549	$852,451	-0.1%
Net Income	$-222,628	$-91,980	+1.4%

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

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

$91,875

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRYAN FINN	CHAIR	10.00	Officer Director	$0	$0	$0
LISA STEVENSON	TREASURER	10.00	Officer Director	$0	$0	$0
MATT BERRY	VICE CHAIR	10.00	Officer Director	$0	$0	$0
DR LYNN FISHER	SECRETARY	10.00	Officer Director	$0	$0	$0
ERICA AUSTIN	BOARD MEMBER	2.00	Director	$0	$0	$0
JACOB THORNTON	BOARD MEMBER	2.00	Director	$0	$0	$0
AVA CARPENTER-MCPIKE	BOARD MEMBER	2.00	Director	$0	$0	$0
CANDICE TREES	BOARD MEMBER	2.00	Director	$0	$0	$0
AMBER LOZZI	BOARD MEMBER	2.00	Director	$0	$0	$0
MICHAEL WIANT	BOARD MEMBER	2.00	Director	$0	$0	$0
ASHLEY NIPPERT-YOGGERST	BOARD MEMBER	2.00	Director	$0	$0	$0
LAUREN YOGGERST	BOARD MEMBER	2.00	Director	$0	$0	$0
CATHY POPOVITCH	BOARD MEMBER	2.00	Director	$0	$0	$0
JENNIFER EDGINTON	BOARD MEMBER	2.00	Director	$0	$0	$0
JAMILA WICKS	EXECUTIVE DIRECTOR	40.00	Officer	$82,119	$9,756	$91,875

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	No data	No data	No data	No data
2024	$549,921	$772,549	$3,283,102	$-222,628
2023	$760,471	$852,451	$3,345,314	$-91,980
2022	$705,961	$798,481	$3,157,505	$-92,520
2021	$482,996	$642,844	$3,889,913	$-159,848
2020	$902,356	$443,510	$3,447,790	$458,846
2019	$1,047,594	$300,943	$3,194,573	$746,651
2018	$471,233	$336,494	$2,328,004	$134,739