Wichita Art Museum Inc

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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

1994

Legal Domicile

Principal Officer

Jan Harper

Phone

3162684921

Tax Period

2024-01-01 to 2024-12-31

Wichita Art Museum Inc, founded in 1994, is a community nonprofit in the Arts, Culture & Humanities sector that reported $7.6M in total revenue in fiscal year 2024. Revenue fell 56% from the prior year — a significant decline worth monitoring. Expenses of $7.0M left a modest 8% surplus.

Mission

To provide a safe and acclimatized environment for the storage, conservation and respectful display of the permanent collection of the museum as well as borrowed or loaned works of art.

Program Service Accomplishments

Program 1

Expenses: $5,094,437 Revenue: $7,649,976

The Wichita Art Museum, Inc operates and manages numerous activities, exhibitions and programs for the City of Wichita.

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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 $6,106,720

Program Service Revenue $0

Investment Income $1,242,818

Other Revenue $300,438

TOTAL REVENUE $7,649,976

Expense Breakdown

Grants Paid $2,500,494

Salaries & Benefits $2,175,697

Fundraising Expenses $1,004,262

Program Expenses $5,094,437

Other Expenses $2,345,567

TOTAL EXPENSES $7,021,758

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,649,976	$17,363,942	-0.6%
Expenses	$7,021,758	$7,140,630	0.0%
Net Income	$628,218	$10,223,312	-0.9%

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

150

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

$107,266

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Prisca Barnes	Trustee	1.00	Director	$0	$0	$0
Robert Layton	Trustee	1.00	Director	$0	$0	$0
Allison Baker	Trustee	1.00	Director	$0	$0	$0
Martie Walker	Honorary Trustee	1.00	Director	$0	$0	$0
Mike Michaelis	Trustee	1.00	Director	$0	$0	$0
Martha Linsner	Immediate Past Chair	1.00	Director	$0	$0	$0
J Eric Engstrom	Honorary Trustee	1.00	Director	$0	$0	$0
Lou Heldman	Chair	1.00	Director	$0	$0	$0
Kate Bastian	Trustee	1.00	Director	$0	$0	$0
Paula Downing	Vice Chair	1.00	Director	$0	$0	$0
Suzy Finn	Trustee	1.00	Director	$0	$0	$0
Luis Burgos	Trustee	1.00	Director	$0	$0	$0
TeOndra Phillips	Treasurer	1.00	Director	$0	$0	$0
Alejo Cabral	Trustee	1.00	Director	$0	$0	$0
Bree Cox	Trustee	1.00	Director	$0	$0	$0
Joey Giblin	Trustee	1.00	Director	$0	$0	$0
Kevin Harrison	Trustee	1.00	Director	$0	$0	$0
Tracy Hoover	Trustee	1.00	Director	$0	$0	$0
Sheila Kinnard	Trustee	1.00	Director	$0	$0	$0
Betsy Redler	Trustee	1.00	Director	$0	$0	$0
Chris Shank	Trustee	1.00	Director	$0	$0	$0
Mayra Ocampo	Secretary	1.00	Director	$0	$0	$0
Darryl Kelly	Trustee	1.00	Director	$0	$0	$0
Rachel Wetta	Trustee	1.00	Director	$0	$0	$0
Diane Post	Trustee	1.00	Director	$0	$0	$0
Lindsay Benacka	Ex Officio	1.00		$0	$0	$0
Matt Cortez	President	1.00		$0	$0	$0
Jan-Maeve Saggerson	Trustee	1.00		$0	$0	$0
Lauren Mercado	Trustee	1.00		$0	$0	$0
Lai-L Daugherty	Trustee	1.00		$0	$0	$0
Molly McFerson	Chief Executive Officer	40.00	Officer Highest	$107,266	$0	$107,266
Jeff Van Sickle	Trustee	1.00		$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	$7,649,976	$7,021,758	$23,360,202	$628,218
2023	$17,363,942	$7,140,630	$21,754,199	$10,223,312
2022	$4,644,027	$6,378,796	No data	$-1,734,769
2021	$5,222,145	$4,490,415	$13,467,107	$731,730
2020	$4,522,280	$4,832,824	$12,198,968	$-310,544