Design Museum of Chicago

EIN: 462120195 501(c)(3) Arts, Culture & Humanities

Chicago, IL

Total Revenue
$614,852
Total Expenses
$666,359
Total Assets
$200,506
Net Assets
$199,845
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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
2013
Legal Domicile
IL
Principal Officer
Tanner Woodford
Phone
3128946263
Tax Period
2023-01-01 to 2023-12-31

Design Museum of Chicago, founded in 2013, is a small nonprofit in the Arts, Culture & Humanities sector that reported $297K in total revenue in fiscal year 2018. Revenue fell 23% from the prior year — a significant decline worth monitoring. Expenses of $334K exceeded revenue, resulting in a 13% operating deficit.

Mission

The Design Museum of Chicago strives to inspire, educate and innovate through design. As a resource for the Chicago design community and beyond, the museum facilitates an open dialogue about contemporary and historical design through limited engagement exhibitions, events, public programs, and digital media. Design is not just a single discipline or process, but rather a persistent element present in our everyday environments and experiences.

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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 (2023)

Revenue Breakdown

Contributions & Grants $159,013
Program Service Revenue $0
Investment Income $0
Other Revenue $455,839
TOTAL REVENUE $614,852

Expense Breakdown

Grants Paid $0
Salaries & Benefits $278,981
Fundraising Expenses $50,527
Program Expenses $554,085
Other Expenses $387,378
TOTAL EXPENSES $666,359

Year-over-Year Comparison

2023 2022 Change
Revenue $614,852 $564,251 +0.1%
Expenses $666,359 $472,158 +0.4%
Net Income $-51,507 $92,093 -1.6%
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
20
Independent Members
20
Employees
4
Volunteers
5

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
4
$0
Total Directors
20
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Rana Komar Vice chair 15.00
Director
$0 $0 $0
Jamie Koval board member 10.00
Director
$0 $0 $0
Sam Landers board member 10.00
Director
$0 $0 $0
Rob McKay board member 10.00
Director
$0 $0 $0
Irv Michaels board member 15.00
Director
$0 $0 $0
Jim Misener board member 10.00
Director
$0 $0 $0
Kate Neisser board member 10.00
Director
$0 $0 $0
Bud Rodecker board member 10.00
Director
$0 $0 $0
Arlene Semel board member 10.00
Director
$0 $0 $0
Tanner Woodford Founder 60.00
Director
$0 $0 $0
William Beach Ex Officio Chr 15.00
Officer Director
$0 $0 $0
Wendy Manning Chair 15.00
Officer Director
$0 $0 $0
Andrea Kramer Secretary 10.00
Officer Director
$0 $0 $0
Eugene Varnado II board member 10.00
Director
$0 $0 $0
Ruth Goran Treasurer 15.00
Officer Director
$0 $0 $0
Charles Adler board member 10.00
Director
$0 $0 $0
Duke Alden board member 10.00
Director
$0 $0 $0
Helyn Goldenberg board member 10.00
Director
$0 $0 $0
Todd Heiser board member 10.00
Director
$0 $0 $0
Richard Wright board member 10.00
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 $614,852 $666,359 $200,506 $-51,507
2022 $564,251 $472,158 $251,601 $92,093
2021 $547,323 $516,561 $234,874 $30,762
2020 $324,495 $324,851 $96,176 $-356
2019 $318,496 $308,794 $72,051 $9,702
2018 $296,582 $334,311 $43,120 $-37,729
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