THE PHILLIPS COLLECTION (EIN 530204620) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1921

Legal Domicile

Principal Officer

JOHN DESPRES

Phone

2023872151

Tax Period

2023-08-01 to 2024-07-31

THE PHILLIPS COLLECTION, founded in 1921, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $13.7M in total revenue in fiscal year 2023. Revenue fell 36% from the prior year — a significant decline worth monitoring. Expenses of $17.3M exceeded revenue, resulting in a 27% operating deficit.

Mission

THE PHILLIPS COLLECTION IS THE OLDEST MUSEUM OF MODERN AND CONTEMPORARY ART IN THE U.S.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $7,507,678

Program Service Revenue $1,942,599

Investment Income $3,783,554

Other Revenue $462,165

TOTAL REVENUE $13,695,996

Expense Breakdown

Grants Paid $0

Salaries & Benefits $9,236,088

Fundraising Expenses $2,182,653

Program Expenses $13,131,640

Other Expenses $8,055,699

TOTAL EXPENSES $17,349,802

Year-over-Year Comparison

	2023	2022	Change
Revenue	$13,695,996	$21,268,355	-0.4%
Expenses	$17,349,802	$16,615,354	+0.0%
Net Income	$-3,653,806	$4,653,001	-1.8%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

242

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

$704,226

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN DESPRES	CHAIR	3.00	Officer Director	$0	$0	$0
BARBARA HALL	VICE CHAIR	2.00	Officer Director	$0	$0	$0
SALA PATTERSON	VICE CHAIR	2.00	Officer Director	$0	$0	$0
JUDY POMERANZ	SECRETARY	2.00	Officer Director	$0	$0	$0
ROBERT DRUMHELLER	TREASURER	2.00	Officer Director	$0	$0	$0
PATTY ALPER-COHN	TRUSTEE	1.00	Director	$0	$0	$0
DOUGLAS BENNETT	TRUSTEE	1.00	Director	$0	$0	$0
BEATRIZ BOLTON	TRUSTEE	1.00	Director	$0	$0	$0
BARBARA BERISH BROWN	TRUSTEE	1.00	Director	$0	$0	$0
NINA CHUNG DWYER	TRUSTEE	1.00	Director	$0	$0	$0
JOSH EASTRIGHT	TRUSTEE	1.00	Director	$0	$0	$0
TODD GALAIDA	TRUSTEE	1.00	Director	$0	$0	$0
JULIE GARCIA	TRUSTEE	1.00	Director	$0	$0	$0
PAMELA GWALTNEY	TRUSTEE	1.00	Director	$0	$0	$0
BONNIE BURKE HIMMELMAN	TRUSTEE	1.00	Director	$0	$0	$0
LYNNE N HORNING	TRUSTEE	1.00	Director	$0	$0	$0
BENNIE F JOHNSON	TRUSTEE	1.00	Director	$0	$0	$0
PAMELA KAPLAN	TRUSTEE	1.00	Director	$0	$0	$0
PAUL KILLIAN	TRUSTEE	1.00	Director	$0	$0	$0
GAIL LIONE	TRUSTEE	1.00	Director	$0	$0	$0
JANE LOLE	TRUSTEE	1.00	Director	$0	$0	$0
B THOMAS MANSBACH	TRUSTEE	1.00	Director	$0	$0	$0
JUANITA MOORE	TRUSTEE	1.00	Director	$0	$0	$0
LIZA PHILLIPS	TRUSTEE	1.00	Director	$0	$0	$0
ERIC RICHTER	TRUSTEE	1.00	Director	$0	$0	$0
MARK ROSMAN	TRUSTEE	1.00	Director	$0	$0	$0
LESLIE WHEELOCK	TRUSTEE	1.00	Director	$0	$0	$0
BETSY WILLIAMS	TRUSTEE	1.00	Director	$0	$0	$0
JONATHAN BINSTOCK	VRADENBURG DIRECTOR & CEO	60.00	Officer	$301,894	$53,243	$355,137
CHERYL NICHOLS	CFO	45.00	Officer	$187,502	$50,652	$238,154
MICHELE WINKLER THOMAS	DEP. DIR. OF STRAT. & COO(END 09/23)	45.00	Officer	$107,719	$3,216	$110,935
EARL RICHARDS	CONTROLLER	45.00	Highest	$109,727	$14,807	$124,534
YUMA I TOMES	HORNING CHAIR FOR DEAI	45.00	Highest	$130,617	$21,473	$152,090
ELSA SMITHGALL	CHIEF CURATOR	45.00	Highest	$123,341	$29,723	$153,064
ANGELA GILLESPIE	DIR. OF HUMAN RESOURCES	45.00	Highest	$116,080	$52,815	$168,895
VESELA SRETENOVIC	DIR. OF CONT. ART INIT. (END 12/23)	45.00	Highest	$136,242	$13,527	$149,769
DOROTHY KOSINSKI	FORMER OFFICER	0.00		$366,781	$36,585	$403,366

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	$13,695,996	$17,349,802	$128,931,106	$-3,653,806
2023	$21,268,355	$16,615,354	$127,766,198	$4,653,001
2022	$15,615,081	$16,089,293	$125,952,725	$-474,212
2021	$17,753,788	$13,060,797	$133,843,436	$4,692,991
2020	$10,501,207	$13,934,451	$115,569,748	$-3,433,244
2019	$21,813,601	$14,555,535	$116,986,965	$7,258,066
2018	$13,932,391	$13,801,859	$112,230,667	$130,532

THE PHILLIPS COLLECTION