THE FRANKLIN G BURROUGHS SIMEON B CHAPIN ART MUSEUM (EIN 570896049) - Form 990 Financial Analysis & Trantor Score

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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

1994

Legal Domicile

Principal Officer

VERN HEARL

Phone

8432382510

Tax Period

2023-01-01 to 2023-12-31

THE FRANKLIN G BURROUGHS SIMEON B CHAPIN ART MUSEUM, founded in 1994, is a small nonprofit in the Arts, Culture & Humanities sector that reported $607K in total revenue in fiscal year 2023. Revenue fell 24% from the prior year — a significant decline worth monitoring. Expenses of $732K exceeded revenue, resulting in a 20% operating deficit.

Mission

THE ART MUSEUM IS DEDICATED TO BEING ONE OF THE FINEST VISUAL ARTS MUSEUMS IN THE CAROLINAS. WE STRIVE TO ENGAGE OUR COMMUNITY AND OUR VISITORS THROUGH UNIQUE EXHIBITIONS AND INTERACTIVE, EDUCATIONAL AND CREATIVE PROGRAMS FOR PEOPLE OF ALL AGES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $508,151

Program Service Revenue $80,100

Investment Income $88

Other Revenue $19,025

TOTAL REVENUE $607,364

Expense Breakdown

Grants Paid $0

Salaries & Benefits $411,354

Fundraising Expenses $25,502

Program Expenses $613,587

Other Expenses $320,189

TOTAL EXPENSES $731,543

Year-over-Year Comparison

	2023	2022	Change
Revenue	$607,364	$803,654	-0.2%
Expenses	$731,543	$746,911	0.0%
Net Income	$-124,179	$56,743	-3.2%

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

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

$85,615

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LINETA PRICHARD	DIRECTOR	5.00	Director	$0	$0	$0
PATRICIA GOODWIN	DIRECTOR	40.00	Director	$85,615	$0	$85,615
BRIAN RUTENBERG	HONORARY DIRECTOR	5.00	Director	$0	$0	$0
TIFFANY ANDREWS	DIRECTOR	5.00	Director	$0	$0	$0
MIRIAM BERROUET	DIRECTOR	5.00	Director	$0	$0	$0
CLAUDIA BORNHOLDT	DIRECTOR	5.00	Director	$0	$0	$0
STEVE CARTER	DIRECTOR	5.00	Director	$0	$0	$0
GEORGE DURANT	DIRECTOR	5.00	Director	$0	$0	$0
KYLE JOHNSON	DIRECTOR	5.00	Director	$0	$0	$0
JAMES NEWTON	DIRECTOR	5.00	Director	$0	$0	$0
SUSAN SEAGROVES	DIRECTOR	5.00	Director	$0	$0	$0
JODI SIMS	DIRECTOR	5.00	Director	$0	$0	$0
BRETT YATES	DIRECTOR	5.00	Director	$0	$0	$0
NANCY CAVE	EMERITA	5.00	Director	$0	$0	$0
ELIZABETH BENTON	PAST CHAIR	5.00	Director	$0	$0	$0
VERN HEARL	CHAIR	5.00	Officer	$0	$0	$0
ERIN PATE	VICE CHAIR	5.00	Officer	$0	$0	$0
NORA BATTLE	SECRETARY	5.00	Officer	$0	$0	$0
ADAM JOHNSON	TREASURER	5.00	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
2024	No data	No data	No data	No data
2023	$607,364	$731,543	$508,228	$-124,179
2022	$803,654	$746,911	$632,407	$56,743
2021	$696,860	$539,700	$645,664	$157,160
2020	$473,310	$550,095	$489,804	$-76,785
2019	$665,537	$631,157	$495,289	$34,380
2018	$894,326	$627,198	$460,909	$267,128

THE FRANKLIN G BURROUGHS SIMEON B CHAPIN ART MUSEUM