RACINE ART MUSEUM ASSOCIATION INC (EIN 391018155) - 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

1939

Legal Domicile

Principal Officer

JOHN CRIMMINGS

Phone

2626388300

Tax Period

2024-01-01 to 2024-12-31

RACINE ART MUSEUM ASSOCIATION INC, founded in 1939, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.0M in total revenue in fiscal year 2024. Revenue fell 30% from the prior year — a significant decline worth monitoring. Expenses of $2.5M exceeded revenue, resulting in a 26% operating deficit.

Mission

THE MISSION IS TO EXHIBIT, COLLECT, PRESERVE, AND EDUCATE IN THE CONTEMPORARY VISUAL ARTS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $1,184,846

Program Service Revenue $216,208

Investment Income $493,457

Other Revenue $85,407

TOTAL REVENUE $1,979,918

Expense Breakdown

Grants Paid $1,222

Salaries & Benefits $1,381,445

Fundraising Expenses $276,154

Program Expenses $1,735,233

Other Expenses $1,108,457

TOTAL EXPENSES $2,491,124

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,979,918	$2,823,820	-0.3%
Expenses	$2,491,124	$2,264,920	+0.1%
Net Income	$-511,206	$558,900	-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

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

$208,064

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRUCE PEPICH	EXECUTIVE DIR.	40.00	Officer	$193,369	$14,695	$208,064
JOHN CRIMMINGS	PRESIDENT	1.00	Officer Director	$0	$0	$0
DEBRA KARP	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
JUSTIN PETERMAN	TREASURER	1.00	Officer Director	$0	$0	$0
CLAIR HOLLAND	SECRETARY	1.00	Officer Director	$0	$0	$0
ERIC MEIER	DIRECTOR	1.00	Director	$0	$0	$0
TONY MAY	DIRECTOR	1.00	Director	$0	$0	$0
LAURA MAASKE	DIRECTOR	1.00	Director	$0	$0	$0
JANET POBAR	DIRECTOR	1.00	Director	$0	$0	$0
MARK JANIUK	DIRECTOR	1.00	Director	$0	$0	$0
VINCENT VENEGAS	DIRECTOR	1.00	Director	$0	$0	$0
LORETTA OLSEN	DIRECTOR	1.00	Director	$0	$0	$0
LAURA MILLION	DIRECTOR	1.00	Director	$0	$0	$0
JAMES C SMALL	DIRECTOR	1.00	Director	$0	$0	$0
DALE ZIERTEN	DIRECTOR	1.00	Director	$0	$0	$0
CARL HIPP	DIRECTOR	1.00	Director	$0	$0	$0
NANCY WHEELER	DIRECTOR	1.00	Director	$0	$0	$0
NICHOLE ELCANO	DIRECTOR	1.00	Director	$0	$0	$0
SUSAN BOLAND	DIRECTOR	1.00	Director	$0	$0	$0
LISA MARIE BARBER	DIRECTOR	1.00	Director	$0	$0	$0
LINEA ANTHONY	DIRECTOR	1.00	Director	$0	$0	$0
JAMES WALKER	DIRECTOR	1.00	Director	$0	$0	$0
NICOLE FARBO	DIRECTOR	1.00	Director	$0	$0	$0
DENISE ROBERTS MCKEE	DIRECTOR	1.00	Director	$0	$0	$0
JULIA OAS	DIRECTOR	1.00	Director	$0	$0	$0
TOBY SIMPKINS	DIRECTOR	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	$1,979,918	$2,491,124	$12,492,523	$-511,206
2023	$2,823,820	$2,264,920	$12,898,528	$558,900
2022	$2,118,021	$2,200,688	$11,889,290	$-82,667
2021	$1,971,714	$1,946,092	$13,099,169	$25,622
2020	$1,465,725	$1,832,166	$12,408,720	$-366,441
2019	$1,985,211	$1,924,334	$12,662,826	$60,877
2018	$2,454,747	$1,932,443	$11,839,792	$522,304

RACINE ART MUSEUM ASSOCIATION INC