THE FLORENCE MUSEUM

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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

1936

Legal Domicile

Principal Officer

JEFF MURRIE

Phone

8436657727

Tax Period

2024-07-01 to 2025-06-30

THE FLORENCE MUSEUM, founded in 1936, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $31K in total revenue in fiscal year 2024. Expenses of $37K exceeded revenue, resulting in a 19% operating deficit.

Mission

TO PROVIDE HISTORICAL AND ART EXHIBITS AND EDUCATION FOR CHILDREN AND ADULTS.

Program Service Accomplishments

Program 1

Expenses: $32,883

GENERAL SUPPORT OF THE FLORENCE COUNTY MUSEUM OPERATION SERVING A POPULATION OF 100,000 PEOPLE. PROMOTES PUBLIC USE OF FACILITY AS WELL AS HAVING EXHIBITIONS BY LOCAL ARTISTS (ADULTS AND CHILDREN)...

GENERAL SUPPORT OF THE FLORENCE COUNTY MUSEUM OPERATION SERVING A POPULATION OF 100,000 PEOPLE. PROMOTES PUBLIC USE OF FACILITY AS WELL AS HAVING EXHIBITIONS BY LOCAL ARTISTS (ADULTS AND CHILDREN), HOSTORICAL EXHIBITS, AND PROVIDING ART. THE MUSEUM WAS CLOSED DUE TO COVID SO THE 2020 EXPENSES WERE RESTRICTED TO FIXED COSTS RELATIVE TO 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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $31,194

Other Revenue $0

TOTAL REVENUE $31,194

Expense Breakdown

Grants Paid $23,342

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $32,883

Other Expenses $13,700

TOTAL EXPENSES $37,042

Year-over-Year Comparison

	2024	2023	Change
Revenue	$31,194	$29,986	+0.0%
Expenses	$37,042	$90,272	-0.6%
Net Income	$-5,848	$-60,286	-0.9%

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

N/A

Volunteers

N/A

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEFF MURRIE	PRESIDENT	2.00	Officer Director	$0	$0	$0
CARLA GRAHAM	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
TONY STARKS	SECRETARY	2.00	Officer Director	$0	$0	$0
BRIANNE JACKSON	TREASURER	4.00	Officer Director	$0	$0	$0
RUFUS BRATTON	BOARD MEMBER	1.00	Director	$0	$0	$0
CATHERINE LOVE	BOARD MEMBER	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	$31,194	$37,042	$1,118,081	$-5,848
2024	$29,986	$90,272	$1,074,105	$-60,286
2023	$74,990	$65,033	$1,088,782	$9,957
2022	$19,332	$18,816	$1,054,696	$516