BALTIMORE MUSEUM OF ART

EIN: 526000162 501(c)(3) Arts, Culture & Humanities

BALTIMORE, MD

Total Revenue
$26,532,056
Total Expenses
$27,065,544
Total Assets
$205,294,835
Net Assets
$201,384,996
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1914
Legal Domicile
MD
Principal Officer
CHRISTINE DIETZE BONNANO
Phone
4435731849
Tax Period
2023-07-01 to 2024-06-30

BALTIMORE MUSEUM OF ART, founded in 1914, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $26.5M in total revenue in fiscal year 2023. Net assets of $201.4M represent 91 months of operating reserves.

Mission

THE BALTIMORE MUSEUM OF ART CONNECTS ART TO BALTIMORE AND BALTIMORE TO THE WORLD, (SEE SCH. O) EMBODYING A COMMITMENT TO ARTISTIC EXCELLENCE AND SOCIAL EQUITY IN EVERY DECISION FROM ART PRESENTATION, INTERPRETATION, AND COLLECTING, TO THE COMPOSITION OF OUR BOARD OF TRUSTEES, STAFF, AND VOLUNTEERS - CREATING A MUSEUM WELCOMING TO ALL.

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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 $14,467,563
Program Service Revenue $2,331,460
Investment Income $9,472,780
Other Revenue $260,253
TOTAL REVENUE $26,532,056

Expense Breakdown

Grants Paid $0
Salaries & Benefits $13,360,561
Fundraising Expenses $996,563
Program Expenses $22,132,899
Other Expenses $13,704,983
TOTAL EXPENSES $27,065,544

Year-over-Year Comparison

2023 2022 Change
Revenue $26,532,056 $27,636,766 0.0%
Expenses $27,065,544 $41,560,641 -0.3%
Net Income $-533,488 $-13,923,875 -1.0%
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

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Liquidity & Cash Position

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Governance

Voting Members
38
Independent Members
38
Employees
248
Volunteers
45

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
13
$658,296
Total Directors
38
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JAMES THORNTON CHAIR 1.00
Officer Director
$0 $0 $0
CLAIR ZAMOISKI SEGAL IMMEDIATE PAST CHAIR 1.00
Officer Director
$0 $0 $0
DARIUS GRAHAM VICE CHAIR 1.00
Officer Director
$0 $0 $0
ELIZABETH HURWITZ VICE CHAIR 1.00
Officer Director
$0 $0 $0
PAUL OOSTBURG SANZ VICE PRESIDENT AND TREASURER 1.00
Officer Director
$0 $0 $0
FIONA ONG SECRETARY 1.00
Officer Director
$0 $0 $0
DAVID WALLACE VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
JOHN MEYERHOFF VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
ELLEN DAME VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
VIRGINIA ADAMS ASSISTANT VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
AMY GOULD ASSISTANT VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
BEVERLY BENTLEY CARROLL TRUSTEE 1.00
Director
$0 $0 $0
MICHAEL BROWN TRUSTEE 1.00
Director
$0 $0 $0
ADAM BURCH TRUSTEE 1.00
Director
$0 $0 $0
SHARON BUTLER TRUSTEE 1.00
Director
$0 $0 $0
SAM CALLARD TRUSTEE 1.00
Director
$0 $0 $0
AMY ELIAS TRUSTEE 1.00
Director
$0 $0 $0
DENISE GALAMBOS TRUSTEE 1.00
Director
$0 $0 $0
JOANNE GOLD TRUSTEE 1.00
Director
$0 $0 $0
KIM MUMBY GREEN TRUSTEE 1.00
Director
$0 $0 $0
NANCY HACKERMAN TRUSTEE 1.00
Director
$0 $0 $0
PAMELA HOEHN-SARIC TRUSTEE 1.00
Director
$0 $0 $0
SHERRILYN IFILL TRUSTEE 1.00
Director
$0 $0 $0
LORI N JOHNSON TRUSTEE 1.00
Director
$0 $0 $0
PATRICIA LASHER TRUSTEE 1.00
Director
$0 $0 $0
GEORGE MCCULLOCH TRUSTEE 1.00
Director
$0 $0 $0
SHEELA MURTHY TRUSTEE 1.00
Director
$0 $0 $0
NUPUR PAREKH FLYNN TRUSTEE 1.00
Director
$0 $0 $0
GEORGE PETROCHEILOS TRUSTEE 1.00
Director
$0 $0 $0
STEVEN PULIMOOD TRUSTEE 1.00
Director
$0 $0 $0
MARK SAUDEK TRUSTEE 1.00
Director
$0 $0 $0
KATHERINE SCHULZE TRUSTEE 1.00
Director
$0 $0 $0
LYNN SELBY TRUSTEE 1.00
Director
$0 $0 $0
MICHAEL SHERMAN TRUSTEE 1.00
Director
$0 $0 $0
STUART O SIMMS TRUSTEE 1.00
Director
$0 $0 $0
ANNE L STONE TRUSTEE 1.00
Director
$0 $0 $0
JOHN WATERS TRUSTEE 1.00
Director
$0 $0 $0
KWAME WEBB TRUSTEE 1.00
Director
$0 $0 $0
ASMA NAEEM EXECUTIVE DIRECTOR 40.00
Officer
$359,147 $3,835 $362,982
CHRISTINE BONANNO CHIEF OPERATING OFFICER 40.00
Officer
$248,888 $46,426 $295,314
KIMBERLY BOUNTRESS SENIOR DIRECTOR OF HUMAN RESOURCES 40.00
Highest
$139,071 $32,312 $171,383
STACEY HUBBARD SENIOR DIRECTOR OF FINANCE 40.00
Highest
$118,690 $38,576 $157,266
BEYZA AKCAM DIR OF INFO TECHNOLOGY 40.00
Highest
$113,318 $40,233 $153,551
KATHERINE ROTHKOPF DIR, CTR FOR MATISSE STUDIES 40.00
Highest
$116,726 $35,409 $152,135
KEVIN TERVALA CHIEF CURATOR 40.00
Highest
$122,682 $15,629 $138,311
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 $26,532,056 $27,065,544 $205,294,835 $-533,488
2023 $27,636,766 $41,560,641 $190,851,646 $-13,923,875
2022 $36,043,892 $21,677,250 $192,298,973 $14,366,642
2021 $28,167,570 $22,807,781 $215,822,253 $5,359,789
2020 $31,272,929 $18,432,349 $169,284,027 $12,840,580
2019 $34,411,233 $17,423,887 $158,776,163 $16,987,346
2018 $35,361,903 $23,041,108 $137,284,466 $12,320,795
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