National Gallery of Art (EIN 536001666) - Form 990 Financial Analysis & Trantor Score

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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

1937

Legal Domicile

Principal Officer

Kaywin Feldman

Phone

2027374215

Tax Period

2023-10-01 to 2024-09-30

National Gallery of Art, founded in 1937, is a major nonprofit in the Arts, Culture & Humanities sector that reported $315.5M in total revenue in fiscal year 2023. Revenue surged 26% from the prior year, signaling strong growth momentum. The organization ran a surplus of $71.8M, a strong 23% operating margin.

Mission

The National Gallery of Art serves the nation by welcoming all people to explore and experience art, creativity, and our shared humanity.

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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 (2023)

Revenue Breakdown

Contributions & Grants $211,777,177

Program Service Revenue $124,831

Investment Income $101,644,219

Other Revenue $1,944,144

TOTAL REVENUE $315,490,371

Expense Breakdown

Grants Paid $1,638,637

Salaries & Benefits $131,410,825

Fundraising Expenses $7,502,518

Program Expenses $171,207,396

Other Expenses $110,622,061

TOTAL EXPENSES $243,671,523

Year-over-Year Comparison

	2023	2022	Change
Revenue	$315,490,371	$250,942,541	+0.3%
Expenses	$243,671,523	$247,574,955	0.0%
Net Income	$71,818,848	$3,367,586	+20.3%

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

Governance

Voting Members

Independent Members

Employees

944

Volunteers

352

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

$5,789,159

Total Directors

Key Employees

$1,504,912

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Darren Walker	President of the Board	1.00	Director	$0	$0	$0
David M Rubenstein	Chairman of the Board	1.00	Director	$0	$0	$0
Laura Arrillaga-Andreessen	Trustee	1.00	Director	$0	$0	$0
Indra Nooyi	Trustee	1.00	Director	$0	$0	$0
Mitchell P Rales	Trustee	1.00	Director	$0	$0	$0
Chief Justice of the US	Ex-officio Trustee	0.00	Director	$0	$0	$0
Secretary of State	Ex-officio Trustee	0.00	Director	$0	$0	$0
Sec'y of the US Treasury	Ex-Officio Trustee	0.00	Director	$0	$0	$0
Sec'y of the Smithsonian	Ex-Officio Trustee	0.00	Director	$0	$0	$0
Kaywin Feldman	Director	40.00	Officer	$1,105,640	$454,093	$1,559,733
William W McClure	Treasurer	40.00	Officer	$617,136	$194,734	$811,870
Steven Nelson	Dean, CASVA	40.00	Officer	$510,161	$145,683	$655,844
Kate Haw-Collections	Exhibitions & Programs Off	40.00	Officer	$455,960	$129,537	$585,497
Eric Motley - Deputy	Director	40.00	Officer	$580,105	$171,109	$751,214
E Carmen Ramos-Curatorial	Conservation Officer	40.00	Officer	$391,979	$131,997	$523,976
Luis Baquedano Secretary	General Counsel	40.00	Officer	$476,338	$162,147	$638,485
Laura Lott	COO (effective 7/2/23)	40.00	Officer	$202,851	$59,689	$262,540
Sheila McDaniel	Administrator (through 7/1/23)	40.00	Key Emp	$266,980	$53,480	$320,460
Robert Stein	CIO	40.00	Key Emp	$243,198	$69,945	$313,143
Susan B Wertheim-Deputy Admin	Capital Projects/Chief Architect	40.00	Key Emp	$248,683	$76,745	$325,428
Alan Dirican	Chief of Facilities Manage	40.00	Key Emp	$233,058	$70,456	$303,514
Genia Reaves - Chief of	Protection Services	40.00	Key Emp	$200,641	$41,726	$242,367
Franklin W Kelly	Senior Curator	40.00	Highest	$278,371	$89,504	$367,875
Nicholas Sharp	Chief Digital Officer	40.00	Highest	$270,358	$75,194	$345,552
Christine Kelleher	Chief of Investments	40.00	Highest	$277,686	$62,048	$339,734
Michele Nichols	Chief of Staff	40.00	Highest	$265,447	$65,733	$331,180
Elizabeth Pochter-Admin for	Policy & Prgms (through 10/31/23)	40.00	Highest	$270,398	$66,952	$337,350

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	$315,490,371	$243,671,523	$1,934,331,657	$71,818,848
2023	$250,942,541	$247,574,955	$1,676,083,893	$3,367,586
2022	$155,074,162	$218,742,716	$1,530,551,073	$-63,668,554
2021	$361,600,225	$219,034,269	$1,849,020,278	$142,565,956
2020	$274,186,840	$210,174,591	$1,564,479,385	$64,012,249
2019	$226,167,201	$208,958,620	$1,452,364,541	$17,208,581
2018	$277,316,441	$199,390,648	$1,438,384,394	$77,925,793

National Gallery of Art