WALKER ART CENTER

EIN: 410693929 501(c)(3) Arts, Culture & Humanities

MINNEAPOLIS, MN

Total Revenue
$53,518,372
Total Expenses
$31,784,326
Total Assets
$448,999,396
Net Assets
$444,801,229
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1946
Legal Domicile
MN
Principal Officer
MARY CERUTI
Phone
6123757600
Tax Period
2024-07-01 to 2025-06-30

WALKER ART CENTER, founded in 1946, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $53.5M in total revenue in fiscal year 2024. Revenue decreased 12% compared to the prior year. The organization ran a surplus of $21.7M, a strong 41% operating margin.

Mission

EMPOWERING PEOPLE TO EXPERIENCE THE ART AND IDEAS OF OUR TIME AND TO IMAGINE THE WORLD IN NEW WAYS.

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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 $24,833,875
Program Service Revenue $2,609,886
Investment Income $26,074,727
Other Revenue $-116
TOTAL REVENUE $53,518,372

Expense Breakdown

Grants Paid $0
Salaries & Benefits $13,858,840
Fundraising Expenses $1,771,559
Program Expenses $21,213,418
Other Expenses $17,825,109
TOTAL EXPENSES $31,784,326

Year-over-Year Comparison

2024 2023 Change
Revenue $53,518,372 $60,699,292 -0.1%
Expenses $31,784,326 $29,161,653 +0.1%
Net Income $21,734,046 $31,537,639 -0.3%
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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Governance

Voting Members
49
Independent Members
49
Employees
243
Volunteers
94

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
$766,595
Total Directors
51
$0
Key Employees
3
$687,532
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ELLEN WILSON PRESIDENT 1.00
Officer Director
$0 $0 $0
MARK ADDICKS VICE-PRESIDENT 1.00
Officer Director
$0 $0 $0
SARAH OQUIST VICE-PRESIDENT 1.00
Officer Director
$0 $0 $0
GREG STENMOE SECRETARY 1.00
Officer Director
$0 $0 $0
MARK GREENE TREASURER 1.00
Officer Director
$0 $0 $0
TODD ACKERMAN PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
SIMONE AHUJA PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
ELLIE ANDERSON PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
KATHIE CAFESJIAN BARADARAN PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
JAN BREYER PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
JOHN CHRISTAKOS PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
CHAD DAYTON PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
ANDREW DUFF PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
DAYNA FRANK PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
SIMA GRIFFITH PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
DANIEL GROSSMAN PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
LILI HALL PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
CHRIS HAQQ PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
JOHN HIGGINS PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
SEENA HODGES PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
ANDREW HUMPHREY PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
RITA GARNETT KHAN PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
DAVID KRISTAL PUBLIC TRUSTEE (UNTIL 8/2/24) 1.00
Director
$0 $0 $0
ANNE LABOVITZ PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
ROBERT LILLIGREN PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
MARTHA MACMILLAN PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
JENNIFER MARTIN PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
JO CHRISTINE MILES PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
DAVE MOORE JR PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
VIKESH NEMANI PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
JOAN NOLAN PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
PILAR OPPEDISANO PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
MICHAEL PETERMAN PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
CHARLIE POHLAD PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
TERESA RASMUSSEN PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
PETER REMES PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
BRIAN RICE PUBLIC TRUSTEE (UNTIL 1/28/25) 1.00
Director
$0 $0 $0
KEITH RIVERS PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
JOEL RONNING PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
PHIL ROSENBLOOM PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
DAVID STRAUSS PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
JEFFREY SWINTON PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
CARLO BRONZINI VENDER PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
CHRISTINE WALKER PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
JOHN WHALEY PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
SUSAN WHITE PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
ROBIN WRIGHT PUBLIC TRUSTEE 1.00
Director
$0 $0 $0
ANN CADWALADER WALKER FAMILY TRUSTEE 1.00
Director
$0 $0 $0
CAROLYN WALKER WALKER FAMILY TRUSTEE 1.00
Director
$0 $0 $0
JEAN K WALKER LOWELL WALKER FAMILY TRUSTEE 1.00
Director
$0 $0 $0
LANCE WALKER WALKER FAMILY TRUSTEE 1.00
Director
$0 $0 $0
MARY CERUTI EXECUTIVE DIRECTOR 35.00
Officer
$472,047 $53,428 $525,475
KIM HOLLINGSWORTH TAYLOR CHIEF FINANCIAL OFFICER 35.00
Officer
$228,546 $12,574 $241,120
CHRISTOPHER STEVENS CHIEF OF ADVANCEMENT 35.00
Key Emp
$247,567 $24,721 $272,288
HENRIETTE HULDISCH CHIEF CURATOR 35.00
Key Emp
$213,365 $22,374 $235,739
AMANDA HUNT HEAD OF PUB ENGAGEMENT, LEARNING, AND IMPACT 35.00
Key Emp
$159,906 $19,599 $179,505
PHILIP BITHER SR CURATOR, PA 35.00
Highest
$208,769 $19,238 $228,007
SIRI ENGBERG SR CURATOR, VA 35.00
Highest
$135,705 $18,510 $154,215
ASLI ALTAY HEAD OF DESIGN, CONTENT, AND COMM. 35.00
Highest
$193,552 $12,959 $206,511
KEITH PARKER HEAD OF OPERATIONS 35.00
Highest
$146,411 $15,181 $161,592
FELICIA O'BRIEN DIRECTOR OF BUSINESS DEVELOPMENT 35.00
Highest
$130,295 $16,700 $146,995
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 $53,518,372 $31,784,326 $448,999,396 $21,734,046
2024 $60,699,292 $29,161,653 $409,711,271 $31,537,639
2023 $34,091,695 $30,039,127 $365,106,394 $4,052,568
2022 $20,987,778 $24,867,914 $355,494,582 $-3,880,136
2021 $50,426,261 $23,288,485 $379,213,744 $27,137,776
2020 $9,380,363 $22,729,866 $308,117,431 $-13,349,503
2019 $17,740,184 $25,272,831 $315,379,486 $-7,532,647
2018 $25,453,022 $26,808,114 $313,028,978 $-1,355,092
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