PORTSMOUTH MUSEUMS FOUNDATION

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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

1992

Legal Domicile

Principal Officer

JENNIFER DAVENA

Phone

7573938983

Tax Period

2024-07-01 to 2025-06-30

PORTSMOUTH MUSEUMS FOUNDATION, founded in 1992, is a small nonprofit in the Arts, Culture & Humanities sector that reported $260K in total revenue in fiscal year 2024. Revenue decreased 10% compared to the prior year. Expenses of $730K exceeded revenue, resulting in a 181% operating deficit.

Mission

TO GENERATE PRIVATE AND PUBLIC FUNDS FOR THE CHILDREN'S MUSEUM OF VIRGINIA, AND TO SERVE AS A RECEIVING AGENT FOR FUNDS BENEFITING ALL OF PORTSMOUTH'S CITY MUSEUMS AND RELATED PROJECTS, IN PARTNERSHIP WITH THE CITY OF PORTSMOUTH.

Program Service Accomplishments

Program 1

Expenses: $699,354

THE RESOURCES OF THE PORTSMOUTH MUSEUMS FOUNDATION WILL BE DIRECTED TO BROADEN THE CULTURAL QUALITY OF LIFE IN HAMPTON ROADS. CITY OF PORTSMOUTH MUSEUMS ATTRACTS PRE-K AND ELEMENTARY STUDENTS AND...

THE RESOURCES OF THE PORTSMOUTH MUSEUMS FOUNDATION WILL BE DIRECTED TO BROADEN THE CULTURAL QUALITY OF LIFE IN HAMPTON ROADS. CITY OF PORTSMOUTH MUSEUMS ATTRACTS PRE-K AND ELEMENTARY STUDENTS AND VISITORS FROM EVERY MUNICIPALITY IN HAMPTON ROADS, NEIGHBORING CITIES AND COUNTIES, AND ALL FIFTY STATES, THE MUSEUMS ARE AN EDUCATIONAL AND ECONOMIC ASSET FOR THE ENTIRE REGION.

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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 $206,776

Program Service Revenue $0

Investment Income $48,188

Other Revenue $5,042

TOTAL REVENUE $260,006

Expense Breakdown

Grants Paid $0

Salaries & Benefits $40,000

Fundraising Expenses $7,679

Program Expenses $699,354

Other Expenses $686,723

TOTAL EXPENSES $729,723

Year-over-Year Comparison

	2024	2023	Change
Revenue	$260,006	$290,118	-0.1%
Expenses	$729,723	$172,706	+3.2%
Net Income	$-469,717	$117,412	-5.0%

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

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

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

Total Directors

$26,667

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CAMERON HUNTER	EXECUTIVE DIRECTOR	20.00	Director	$26,667	$0	$26,667
BRIDGET HOST	PRESIDENT	2.00	Officer Director	$0	$0	$0
MEREDITH LEWIS	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
JENNIFER DAVENA	TREASURER	1.00	Officer Director	$0	$0	$0
MAUREEN MIZELLE	SECRETARY	1.00	Officer Director	$0	$0	$0
LAURA LEWIN	MEMBER	0.50	Director	$0	$0	$0
FRAN TAYLOR	MEMBER	0.50	Director	$0	$0	$0
KRISTEN SMITH	MEMBER	0.50	Director	$0	$0	$0
LYNN PERKINSON	MEMBER	0.50	Director	$0	$0	$0
KATHLEEN CULLEN	MEMBER	0.50	Director	$0	$0	$0
JOHN GARRIS	MEMBER	0.50	Director	$0	$0	$0
CHAD CHERRY	MEMBER	0.50	Director	$0	$0	$0
WILLIAM S HARGROVES	MEMBER	0.50	Director	$0	$0	$0
RON GREEN	MEMBER	0.50	Director	$0	$0	$0
PAULA GLOVER	MEMBER	0.50	Director	$0	$0	$0
VANESSA EVANS	MEMBER	0.50	Director	$0	$0	$0
MALLORY TUTTLE	MEMBER	0.50	Director	$0	$0	$0
NANCY PERRY	FORMER INTERIM EXECUTIVE DIRECTOR	20.00		$20,140	$0	$20,140

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	$260,006	$729,723	$4,161,466	$-469,717
2024	$290,118	$172,706	$4,517,850	$117,412
2023	$246,821	$151,029	$4,289,103	$95,792
2022	$1,242,042	$506,473	$4,167,029	$735,569
2021	$597,091	$410,026	$3,561,606	$187,065
2020	$222,018	$424,354	$3,118,468	$-202,336
2019	$265,498	$567,495	$3,339,440	$-301,997