The Charleston Museum (EIN 576000318) - 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

1915

Legal Domicile

Principal Officer

Carl Borick CPA

Phone

8437222996

Tax Period

2024-01-01 to 2024-12-31

The Charleston Museum, founded in 1915, is a community nonprofit in the Arts, Culture & Humanities sector that reported $3.8M in total revenue in fiscal year 2024. Revenue grew 17% year-over-year, indicating healthy expansion. The organization ran a surplus of $753K, a strong 20% operating margin.

Mission

To educate Charleston area residents and visitors about the natural and cultural history of the South Carolina Lowcountry through collections, exhibitions, preservation, conservation, research and related programming.

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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 $1,253,813

Program Service Revenue $1,536,176

Investment Income $752,255

Other Revenue $209,530

TOTAL REVENUE $3,751,774

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,845,341

Fundraising Expenses $27,319

Program Expenses $2,703,400

Other Expenses $1,153,827

TOTAL EXPENSES $2,999,168

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,751,774	$3,205,136	+0.2%
Expenses	$2,999,168	$2,708,637	+0.1%
Net Income	$752,606	$496,499	+0.5%

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

$194,366

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Horry Parker	President	1.00	Officer Director	$0	$0	$0
Julie Armstrong	Vice President	1.00	Officer Director	$0	$0	$0
Robert Hollings III	Treasurer	1.00	Officer Director	$0	$0	$0
Juliana Falk	Secretary	1.00	Officer Director	$0	$0	$0
Alphonso Brown	Trustee	1.00	Director	$0	$0	$0
Elizabeth Carroll	Trustee	1.00	Director	$0	$0	$0
Jeanne Clement	Trustee	1.00	Director	$0	$0	$0
Lydia Cotton	Trustee	1.00	Director	$0	$0	$0
Travis Folk	Trustee	1.00	Director	$0	$0	$0
Michele Johnson	Trustee	1.00	Director	$0	$0	$0
Roy Maybank	Trustee	1.00	Director	$0	$0	$0
Clements Ripley	Trustee	1.00	Director	$0	$0	$0
Tiffany R Silverman	Trustee	1.00	Director	$0	$0	$0
Phillip Smith	Trustee	1.00	Director	$0	$0	$0
Joan McDonald	treasurer	1.00	Director	$0	$0	$0
Anne Moise Term Ended	President	1.00	Officer Director	$0	$0	$0
Carl Borick CPA	Executive Director	40.00	Officer	$144,210	$50,156	$194,366

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	$3,751,774	$2,999,168	$24,450,272	$752,606
2023	$3,205,136	$2,708,637	$22,836,122	$496,499
2022	$2,899,011	$2,472,930	$21,029,699	$426,081
2021	$2,871,325	$2,158,481	$22,919,139	$712,844
2020	$2,118,595	$2,049,422	$21,566,497	$69,173
2019	$2,496,196	$2,312,357	$20,200,051	$183,839
2018	$2,716,491	$2,189,123	$18,860,618	$527,368

The Charleston Museum