TAUBMAN MUSEUM OF ART

EIN: 546026841 501(c)(3) Arts, Culture & Humanities

ROANOKE, VA

Total Revenue
$4,482,482
Total Expenses
$6,249,392
Total Assets
$73,735,756
Net Assets
$73,273,668
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Financial Trends

Organization Details

Formation Year
1951
Legal Domicile
VA
Principal Officer
CINDY PETERSEN
Phone
5403425760
Tax Period
2024-07-01 to 2025-06-30

TAUBMAN MUSEUM OF ART, founded in 1951, is a community nonprofit in the Arts, Culture & Humanities sector that reported $3.0M in total revenue in fiscal year 2018. Revenue fell 47% from the prior year — a significant decline worth monitoring. Expenses of $4.2M exceeded revenue, resulting in a 41% operating deficit.

Mission

THE TAUBMAN MUSEUM OF ART'S MISSION IS TO BRING PEOPLE AND ART TOGETHR FOR DISCOVERY, LEARNING, AND ENJOYMENT. SERVING THE DIVERSE COMMUNITIES OF OUR REGION, THE TAUBMAN MUSUEM OF ART ENGAGES ALL AUDIENCES THROUGH THE CELEBRATION AND ENJOYMENT OF THE CREATIVE PROCESS. IT IS COMMITTED TO EXCELLENCE IN ITS COLLECTION, SCHOLARSHIP, EDUCATION, AND CREATIVE ACTIVITIES. OUR EMPHASIS IS ON AMERICAN ART AND REGIONAL CULTURE. THE INSTITUTE OF ART SPECIALIZES IN THE EXHIBITION, EDUCATION, AND SCHOLARSHIP OF 19TH AND 20TH CENTURY AMERICAN ART.

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Trantor Score

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,191,875
Program Service Revenue $734,977
Investment Income $2,235,624
Other Revenue $320,006
TOTAL REVENUE $4,482,482

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,717,629
Fundraising Expenses $491,886
Program Expenses $4,906,542
Other Expenses $3,531,763
TOTAL EXPENSES $6,249,392

Year-over-Year Comparison

2024 2023 Change
Revenue $4,482,482 $4,427,318 +0.0%
Expenses $6,249,392 $6,075,161 +0.0%
Net Income $-1,766,910 $-1,647,843 +0.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
27
Independent Members
23
Employees
50
Volunteers
30

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
6
$365,920
Total Directors
24
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CINDY PETERSEN EXECUTIVE DI 50.00
Officer
$332,615 $33,305 $365,920
JOHN FISHWICK JR CHAIR 2.00
Officer Director
$0 $0 $0
LEON HARRIS VICE CHAIR 2.00
Officer Director
$0 $0 $0
WILLIAM J LEMON SECRETARY 2.00
Officer Director
$0 $0 $0
DAVID WINE TREASURER 2.00
Officer Director
$0 $0 $0
NICK CONTE LEGAL 2.00
Officer Director
$0 $0 $0
BETSY BUMGARNER TRUSTEE 2.00
Director
$0 $0 $0
JOANNE L CASSULLO TRUSTEE 2.00
Director
$0 $0 $0
KATHERIN ELAM TRUSTEE 2.00
Director
$0 $0 $0
RUSS ELLETT TRUSTEE 2.00
Director
$0 $0 $0
TAMMY FINLEY TRUSTEE 2.00
Director
$0 $0 $0
KENT GREENAWALT TRUSTEE 2.00
Director
$0 $0 $0
MARY DYKSTRA HAGMAIER TRUSTEE 2.00
Director
$0 $0 $0
ED C HALL TRUSTEE 2.00
Director
$0 $0 $0
LARRY JACKSON TRUSTEE 2.00
Director
$0 $0 $0
MITCHELL S KANEFF TRUSTEE 2.00
Director
$0 $0 $0
ANNETTE LEWIS TRUSTEE 2.00
Director
$0 $0 $0
SANDRA LOVINGUTH PHD TRUSTEE 2.00
Director
$0 $0 $0
CHARLOTTE PORTERFIELD TRUSTEE 2.00
Director
$0 $0 $0
ELDA STANCO-DOWNEY PHD TRUSTEE 2.00
Director
$0 $0 $0
LUTHERIA SMITH TRUSTEE 2.00
Director
$0 $0 $0
STEVE STRAUSS TRUSTEE 2.00
Director
$0 $0 $0
JENNY TAUBMAN TRUSTEE 2.00
Director
$0 $0 $0
NICK TAUBMAN CHAIR EMERIT 2.00
Director
$0 $0 $0
DR BOB TRESTMAN TRUSTEE 2.00
Director
$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
2025 $4,482,482 $6,249,392 $73,735,756 $-1,766,910
2024 $4,427,318 $6,075,161 $73,398,042 $-1,647,843
2023 $3,235,991 $5,914,255 $68,915,793 $-2,678,264
2022 $4,453,447 $4,949,133 $68,810,995 $-495,686
2021 $3,842,676 $4,354,293 $74,958,525 $-511,617
2020 $13,430,974 $4,546,735 $69,106,113 $8,884,239
2019 $3,006,571 $4,226,341 $59,362,484 $-1,219,770
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