MINT MUSEUM OF ART INC

EIN: 560670666 501(c)(3) Arts, Culture & Humanities

CHARLOTTE, NC

Total Revenue
$14,644,029
Total Expenses
$15,458,557
Total Assets
$102,652,411
Net Assets
$100,332,680
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Financial Trends

Organization Details

Formation Year
1936
Legal Domicile
NC
Principal Officer
DR TODD A HERMAN
Phone
7043372000
Tax Period
2024-07-01 to 2025-06-30

MINT MUSEUM OF ART INC, founded in 1936, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $14.6M in total revenue in fiscal year 2024. Revenue surged 63% from the prior year, signaling strong growth momentum. Net assets of $100.3M represent 82 months of operating reserves.

Mission

THE MINT MUSEUM WELCOMES ALL TO BE INSPIRED AND TRANSFORMED THROUGH THE POWER OF ART AND CREATIVITY.

Program Service Accomplishments

Program 1
Expenses: $12,458,367 Revenue: $1,082,403

FOR THE MAJORITY OF FY25, THE MINT MUSEUM CONTINUED ITS CORE ACTIVITIES, INCLUDING EXPANDING ITS PERMANENT COLLECTIONS THROUGH IMPORTANT ACQUISITIONS; LAUNCHING NEW EXHIBITIONS COMPRISING WORKS FROM...

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FOR THE MAJORITY OF FY25, THE MINT MUSEUM CONTINUED ITS CORE ACTIVITIES, INCLUDING EXPANDING ITS PERMANENT COLLECTIONS THROUGH IMPORTANT ACQUISITIONS; LAUNCHING NEW EXHIBITIONS COMPRISING WORKS FROM THE PERMANENT COLLECTIONS AND ON LOAN; ENGAGING VISITORS OF ALL AGES AND BACKGROUNDS THROUGH EDUCATION AND OUTREACH INITIATIVES; AND IMPLEMENTING NEW COMMUNICATION STRATEGIES, TECHNOLOGIES, AND METHODS TO REACH AND ENGAGE NEW AUDIENCES. THE MUSEUM PRESENTED AN EXCITING ROSTER OF MAJOR MINT ORGANIZED AND SPECIAL LOAN EXHIBITIONS IN FY25:WHITFIELD LOVELL: PASSAGES WAS THE MOST COMPREHENSIVE EXHIBITION OF THE ARTIST'S WORK TO DATE. WHITFIELD LOVELL IS RENOWNED FOR HIS MASTERFUL CONTE CRAYON PORTRAITS AND MULTI-SENSORY INSTALLATIONS THAT FOCUS ON ASPECTS OF AFRICAN AMERICAN HISTORY, WHILE RAISING UNIVERSAL QUESTIONS ABOUT IDENTITY, MEMORY, AND AMERICA'S COLLECTIVE HERITAGE. ORGANIZED BY THE AMERICAN FEDERATION OF ARTS, IT BROUGHT TOGETHER, FOR THE FIRST TIME, TWO OF LOVELL'S MAJOR INSTALLATIONS, DEEP RIVER AND VISITATION: THE RICHMOND PROJECT. PHOTOGRAPHS OF AFRICAN AMERICANS TAKEN BETWEEN THE EMANCIPATION PROCLAMATION AND THE CIVIL RIGHTS MOVEMENT INSPIRED HIS EXQUISITE DRAWINGS CREATED ON PAPER OR, AS PART OF HIS TABLEAUX, RENDERED ON SALVAGED WOODEN BOARDS.SOUTHERN/MODERN ORGANIZED BY THE MINT MUSEUM WAS THE FIRST EXHIBITION TO PROVIDE A COMPREHENSIVE SURVEY OF PROGRESSIVE ART CREATED IN THE AMERICAN SOUTH DURING THE FIRST HALF OF THE TWENTIETH CENTURY. THE EXHIBITION TOOK A BROAD VIEW OF THE SOUTH, CONSIDERING ARTISTS WORKING IN THE STATES BELOW THE MASON-DIXON LINE AND AS FAR WEST AS THOSE BORDERING THE MISSISSIPPI RIVER. IT ALSO EXAMINED THE SIGNIFICANT ROLE PLAYED BY WOMEN ARTISTS AND ARTISTS OF COLOR INTO THE VARIOUS THEMATIC SECTIONS OF THE EXHIBITION RATHER THAN EXAMINING THEM IN ISOLATION, PROVIDING A FULLER, RICHER, AND MORE ACCURATE OVERVIEW OF THE ARTISTIC ACTIVITY IN THE REGION THAN HAS BEEN PREVIOUSLY PRESENTED. THE MINT ONCE AGAIN PARTNERED WITH ITS AFFILIATE GROUP, THE YOUNG AFFILIATES OF THE MINT, TO PRESENT COINED IN THE SOUTH. THIS JURIED SHOW CONTINUES TO BRIDGE THE GAP BETWEEN THE MUSEUM, THE GALLERY, AND THE STUDIO BY HIGHLIGHTING THOUGHT-PROVOKING WORKS PRODUCED BY CONTEMPORARY SOUTHEASTERN ARTISTS AND INNOVATORS.FINALLY, ANNIE LEIBOVITZ / WORK INTRODUCED AN EXCITING AND DIVERSE BODY OF NEW WORK IN THIS MAJOR TRAVELING EXHIBITION ORGANIZED BY THE CRYSTAL BRIDGES MUSEUM OF AMERICAN ART. IN 1973, AT THE AGE OF 23, LEIBOVITZ WAS NAMED ROLLING STONE MAGAZINE'S CHIEF PHOTOGRAPHER. IN 2000 SHE WAS DESIGNATED A LIBRARY OF CONGRESS LIVING LEGEND. FOR THESE NEW IMAGES, LEIBOVITZ TURNED HER LENS TOWARD MORE THAN 50 LEADERS IN THE ARTS, SPORTS, POLITICS, AND BUSINESS SPHERES TO SHINE A LIGHT ON LUMINARIES SUCH AS BEYONCE AND JAY Z, ELON MUSK, KETANJI BROWN JACKSON, YAYOI KUSAMA, AND OTHERS. PRESENTED VIA LARGE FORMAT DIGITAL DISPLAYS, THESE WORKS WERE ACCOMPANIED BY PERSPECTIVES FROM THE SITTERS. ADDITIONALLY, THE MINT CONTINUES TO PRESENT ITS CONSTELLATIONCLT SERIES. THIS INITIATIVE HAS POSITIONED THE MUSEUM AS A KEY PLAYER IN, AND SUPPORTER OF, THE RAPIDLY EXPANDING CHARLOTTE ARTIST COMMUNITY.THE MINT CONTINUED TO SUCCESSFULLY HOST COMMUNITY ENGAGEMENT PROGRAMS, TO BUILD ON THE DEEP RELATIONSHIPS MADE WITH BOTH PARTNERS AND PARTICIPANTS, SUCH AS MINT TO MOVE, WILD WEDNESDAYS, BILINGUAL STORIES AND MUSIC, WEDNESDAY NIGHT LIVE, AND DROP IN ART AT MINT MUSEUM RANDOLPH. ADDITIONALLY, WE CONTINUED TO DISTRIBUTE FREE ART KITS - FUN AND EASY ACTIVITIES, COMPLETE WITH SUPPLIES, TO CREATE ART AT HOME. THE MONTHLY FREE ART KIT CORRESPONDS TO AN EXHIBITION ON VIEW OR A PIECE FROM THE MINT'S PERMANENT COLLECTION. TYPICALLY, ABOUT FIVE HUNDRED KITS ARE HANDED OUT TO THE PUBLIC EACH MONTH. FINALLY, THE LAST SUNDAY OF EACH MONTH IS PARTY IN THE PARK AT MINT MUSEUM RANDOLPH. FY25 EXHIBITIONS ALSO ALLOWED THE MINT TO RECOGNIZE THE FOLLOWING: DEMONSTRATE DIVERSITY OF VOICES IN EXHIBITIONS; ENGAGE LOCAL AND REGIONAL ARTISTS AS CO-SUPPORTERS OF OUR CULTURAL ECOSYSTEM; INCREASE ART EDUCATION IMPACT WITH YOUTH THROUGH PROGRAMS IN OUR COMMUNITY; AND BUILD STRONGER RELATIONSHIPS WITH OUR DONORS. THE MINT ACTIVELY ENGAGES LOCAL COMMUNITIES, ARTISTS, ART-EDUCATORS, AND ORGANIZATIONS IN ITS REGULAR PROGRAMMING; AND THOUGHTFULLY REACHES DIVERSE AUDIENCES AND POPULATIONS THROUGH GRASSROOTS EFFORTS LED BY PARTNERING COMMUNITY ORGANIZATIONS AND LEADERS. THROUGH FREE WEDNESDAY EVENINGS AND OUR WEDNESDAY NIGHT LIVE PROGRAMMING WE CREATED A NEW CULTURAL LAYERING OF WHAT IS HAPPENING AT THE MINT, WHILE EXPOSING OUR AUDIENCES TO OTHER GROUPS THAT CONNECT THE MUSEUM MORE DEEPLY WITH THE LOCAL AND REGIONAL ARTS ECOSYSTEM. ANNUALLY, THE MINT PARTNERS WITH NUMEROUS ORGANIZATIONS WITHIN THE COMMUNITY OFFERING A BROAD ARRAY OF PROGRAMMING THAT REACHES AS MANY COMMUNITY MEMBERS AS POSSIBLE. KEY PARTNERS INCLUDE: CHARLOTTE MECKLENBURG SCHOOLS, THE LATIN AMERICAN WOMEN'S ASSOCIATION, LATIN AMERICAN COALITION, ART SI CHARLOTTE, CIRCLE DE LUZ, HARVEY B. GANTT CENTER FOR AFRICAN-AMERICAN ARTS + CULTURE, DANCES OF INDIA, RUMBAO LATIN DANCE COMPANY, SOUTHEASTERN MUSEUM CONFERENCE, PBS AFFILIATE WTVI CHARLOTTE, BECHTLER MUSEUM OF MODERN ART, MCCOLL CENTER FOR VISUAL ART, BLUMENTHAL PERFORMING ARTS CENTER, CHARLOTTE BALLET, OPERA CAROLINA, CHARLOTTE SYMPHONY, CHARLOTTE MECKLENBURG LIBRARY, UNIVERSITIES AND COLLEGES, AND OTHERS. MINT STAFF MEMBERS RELATE TO THEIR PEERS THROUGH VARIOUS NATIONAL GROUPS, INCLUDING THE SOUTHEASTERN MUSEUMS CONFERENCE, THE AMERICAN ALLIANCE OF MUSEUMS, THE COLLEGE ART ASSOCIATION, THE ASSOCIATION OF ART MUSEUM CURATORS, AND THE ASSOCIATION OF FUNDRAISING PROFESSIONALS. THE MINT CONTRIBUTES ANNUALLY TO THE REGIONAL ECONOMY THROUGH EMPLOYMENT, SALES, AND TAXES. SALARIES AND WAGES FOR MINT EMPLOYEES AMOUNT TO APPROXIMATELY $5.1M ANNUALLY, WHILE CONTRACT FEES TOTAL APPROXIMATELY $2.6M. PAID TAXES ARE APPROXIMATELY $600K, WHICH INCLUDE PAYROLL, LOCAL, STATE, AND FEDERAL TAXES. THE MINT'S SPECIAL EVENTS AND SHOPS REVENUE AMOUNTS TO APPROXIMATELY $2.4M ANNUALLY, AND THESE EFFORTS SERVE AS IMPORTANT VENUES FOR LOCAL BUSINESSES (CATERERS, EVENT PLANNERS, VENDORS) TO PARTNER AND THRIVE. FINALLY, 900+ ANNUAL VOLUNTEERS OFFER A KEY RESOURCE, RESULTING IN AN ANNUAL COST SAVINGS OF APPROXIMATELY $115K BASED UPON THE CURRENT HOURLY VOLUNTEER RATE OF $24.50 PER HOUR.

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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 $10,578,966
Program Service Revenue $1,082,403
Investment Income $3,099
Other Revenue $2,979,561
TOTAL REVENUE $14,644,029

Expense Breakdown

Grants Paid $0
Salaries & Benefits $6,243,288
Fundraising Expenses $1,244,806
Program Expenses $12,458,367
Other Expenses $9,215,269
TOTAL EXPENSES $15,458,557

Year-over-Year Comparison

2024 2023 Change
Revenue $14,644,029 $8,975,976 +0.6%
Expenses $15,458,557 $14,108,047 +0.1%
Net Income $-814,528 $-5,132,071 -0.8%
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
23
Independent Members
23
Employees
109
Volunteers
900

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
4
$610,961
Total Directors
23
$0
Key Employees
1
$171,957
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DR TODD A HERMAN PRESIDENT & CEO 40.00
Officer
$361,155 $25,328 $386,483
GARY C BLANKEMEYER COO/CFO 40.00
Officer
$212,070 $12,408 $224,478
JENNIFER SUDUL EDWARDS CHIEF CURATOR 40.00
Key Emp
$153,669 $18,288 $171,957
HILLARY COOPER CHIEF ADVANCEMENT OFFICER 40.00
Highest
$138,413 $2,659 $141,072
CLAYTON SEALEY SR DIR, MKTG/COMMUNICATIONS 40.00
Highest
$131,495 $3,280 $134,775
EBONY HOUSE BRADSHAW DIR. OF HUMAN RESOURCES 40.00
Highest
$101,708 $15,930 $117,638
ULANDA BRISTER DIRECTOR OF ACCOUNTING 40.00
Highest
$100,371 $4,648 $105,019
BETH QUARTAPELLA CHAIR 1.00
Officer Director
$0 $0 $0
MILTON PRIME IMMEDIATE PAST CHAIR 1.00
Director
$0 $0 $0
DAVID HOUSTON TREASURER 1.00
Officer Director
$0 $0 $0
CHARLOTTE WICKHAM TRUSTEE 1.00
Director
$0 $0 $0
JESS SIDHOM TRUSTEE 1.00
Director
$0 $0 $0
WESTON ANDRESS TRUSTEE 1.00
Director
$0 $0 $0
JILL KELLY TRUSTEE 1.00
Director
$0 $0 $0
ALICIA BARNES TRUSTEE 1.00
Director
$0 $0 $0
JULIE EISELT TRUSTEE 1.00
Director
$0 $0 $0
LINDSAY MCCULLOUGH TRUSTEE 1.00
Director
$0 $0 $0
EVGENIYA EZHOVA TRUSTEE 1.00
Director
$0 $0 $0
LUCY HARDISON TRUSTEE 1.00
Director
$0 $0 $0
SARAH GORDON TRUSTEE 1.00
Director
$0 $0 $0
POSEY MEALY TRUSTEE 1.00
Director
$0 $0 $0
SIDNEY ECHEVARRIA CHAIR, MMA COLLECTIONS BOA 1.00
Director
$0 $0 $0
MATTHEW MOORE TRUSTEE 1.00
Director
$0 $0 $0
SHANNON SMITH TRUSTEE 1.00
Director
$0 $0 $0
JOHN CLEMONS TRUSTEE 1.00
Director
$0 $0 $0
KATIE HALLAWAY TRUSTEE 1.00
Director
$0 $0 $0
LAUREN HARKEY TRUSTEE 1.00
Director
$0 $0 $0
BETSY ROSEN TRUSTEE 1.00
Director
$0 $0 $0
REX REYNOLDS TRUSTEE 1.00
Director
$0 $0 $0
CHERYL PALMER TRUSTEE 1.00
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 $14,644,029 $15,458,557 $102,652,411 $-814,528
2024 $8,975,976 $14,108,047 $96,370,507 $-5,132,071
2023 $11,062,992 $15,508,423 $79,384,308 $-4,445,431
2022 $10,919,904 $11,957,241 $82,589,737 $-1,037,337
2021 $7,183,468 $9,386,572 $87,046,895 $-2,203,104
2020 $6,923,462 $10,312,038 $80,854,701 $-3,388,576
2019 $7,016,119 $10,394,473 $83,113,681 $-3,378,354
2018 $6,220,994 $9,455,004 $86,275,940 $-3,234,010
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