The Morikami Inc

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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

1977

Legal Domicile

Principal Officer

Randal T Baker

Tax Period

2023-10-01 to 2024-09-30

The Morikami Inc, founded in 1977, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.7M in total revenue in fiscal year 2023. Revenue fell 27% from the prior year — a significant decline worth monitoring. Expenses of $3.0M exceeded revenue, resulting in a 75% operating deficit.

Mission

To support and enhance the operation of the Morikami Museum whose purpose is to preserve and provide education regarding japanese customs and culture.

Program Service Accomplishments

Program 1

Expenses: $868,775

Improvements to county-owned museum: Through an agreement with Palm Beach County, The Morikami, Inc. assists financially and operationally with the maintenence, upkeep, and improvements to the 32,000...

Program 2

Expenses: $660,722

Educational and cultural programs regarding japanese culture are offered to different groups and include school field trips and classroom programs.

Program 3

Expenses: $490,914

Sales of japanese household items to educate the public in furtherance of the museums exempt purpose.

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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 $1,608,604

Program Service Revenue $176,436

Investment Income $-979,208

Other Revenue $877,862

TOTAL REVENUE $1,683,694

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,495,568

Fundraising Expenses $370,421

Program Expenses $2,020,411

Other Expenses $1,457,885

TOTAL EXPENSES $2,953,453

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,683,694	$2,313,599	-0.3%
Expenses	$2,953,453	$2,872,941	+0.0%
Net Income	$-1,269,759	$-559,342	+1.3%

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

164

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

$92,976

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Donald Blackman	Controller	40.00	Key Emp	$92,976	$0	$92,976
Bonnie W Lemay	Director	10.00	Director	$0	$0	$0
Robin May	Vice President	1.00	Officer	$0	$0	$0
Rosie Puello Burkman	Second Vice President	1.00	Officer	$0	$0	$0
Randal T Baker	President	1.00	Officer	$0	$0	$0
Christine Carton	SecretaryTreasurer	1.00	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	No data	No data	No data	No data
2024	$1,683,694	$2,953,453	$9,737,003	$-1,269,759
2023	$2,313,599	$2,872,941	$8,976,474	$-559,342
2022	$2,109,171	$2,774,435	$8,394,072	$-665,264
2021	$989,841	$2,435,659	$9,316,867	$-1,445,818
2020	$2,789,845	$3,049,761	$8,248,559	$-259,916
2019	$3,233,793	$3,449,213	$8,254,750	$-215,420