LOUISE WELLS CAMERON ART MUSEUM

EIN: 560812213 501(c)(3) Arts, Culture & Humanities

Wilmington, NC

Total Revenue
$2,944,465
Total Expenses
$3,192,965
Total Assets
$21,678,309
Net Assets
$21,568,831
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1962
Legal Domicile
NC
Principal Officer
Frances Goodman
Phone
9103955999
Tax Period
2024-07-01 to 2025-06-30

LOUISE WELLS CAMERON ART MUSEUM, founded in 1962, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.9M in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion. Net assets of $21.6M represent 88 months of operating reserves.

Mission

The Cameron Art Museum provides a cultural gathering place that enriches the lives of museum visitors and the community through high-quality exhibitions, lifelong learning in the arts, dynamic public programs, and stewardship and interpretation of the collection.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,524,162
Program Service Revenue $754,357
Investment Income $317,144
Other Revenue $348,802
TOTAL REVENUE $2,944,465

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,503,290
Fundraising Expenses $425,015
Program Expenses $2,131,740
Other Expenses $1,689,675
TOTAL EXPENSES $3,192,965

Year-over-Year Comparison

2024 2023 Change
Revenue $2,944,465 $2,585,964 +0.1%
Expenses $3,192,965 $2,792,213 +0.1%
Net Income $-248,500 $-206,249 +0.2%
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

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Liquidity & Cash Position

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Governance

Voting Members
16
Independent Members
16
Employees
N/A
Volunteers
125

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
$185,000
Total Directors
14
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Ryan Bisplinghoff Director 2.00
Director
$0 $0 $0
Dr Bobbi Fitzsimmons Director 2.00
Director
$0 $0 $0
Mary McLean Evans Director 2.00
Director
$0 $0 $0
Blair Kitrow Director 2.00
Director
$0 $0 $0
Carmel Lapa Director 2.00
Director
$0 $0 $0
Kathy Lindenmayer Director 2.00
Director
$0 $0 $0
Christopher Loutit Director 2.00
Director
$0 $0 $0
Isabela Lujan Director 2.00
Director
$0 $0 $0
Loleta Robinson Director 2.00
Director
$0 $0 $0
Dr Drew Rosen Director 2.00
Director
$0 $0 $0
Jeffrey Schrager Director 2.00
Director
$0 $0 $0
Katharine Sullivan Director 2.00
Director
$0 $0 $0
Scott Sullivan Director 2.00
Director
$0 $0 $0
Jill Webb Director 2.00
Director
$0 $0 $0
Charles Boney Vice Chair 2.00
Officer
$0 $0 $0
Dr Acquenetta Wheeler Secretary 2.00
Officer
$0 $0 $0
Frances Goodman Chair 2.00
Officer
$0 $0 $0
Heather Wilson Executive Director 40.00
Officer
$105,000 $0 $105,000
Kenda Walter CFO 40.00
Officer
$80,000 $0 $80,000
Michael Cain Treasurer 2.00
Officer
$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 $2,944,465 $3,192,965 $21,678,309 $-248,500
2024 $2,585,964 $2,792,213 $20,967,525 $-206,249
2023 $2,352,193 $2,806,105 $20,086,582 $-453,912
2022 $2,062,415 $2,618,140 $20,155,749 $-555,725
2021 $1,904,557 $2,181,295 $22,313,581 $-276,738
2020 $2,047,746 $2,420,734 $19,973,802 $-372,988
2019 $2,855,964 $2,826,436 $20,141,315 $29,528
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