FIT MUSEUM OF ART INC (EIN 591804524) - 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

1978

Legal Domicile

Principal Officer

MR ROBERT KING

Phone

3216747297

Tax Period

2021-07-01 to 2022-06-30

FIT MUSEUM OF ART INC, founded in 1978, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2021. Revenue surged 170891% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.2M, a strong 98% operating margin.

Mission

THE FIT MUSEUM OF ART, INC. ENHANCES AND ENRICHES THE QUALITY OF LIFE OF THE COMMUNITY AND ITS VISITORS WITH AN ENDURING APPRECIATION OF ART THROUGH EXHIBITIONS, COLLECTIONS AND EDUCATIONAL PROGRAMS WHICH ENLIGHTEN AND INSPIRE THE HUMAN CREATIVE SPIRIT.

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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 (2021)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $1,249,942

Other Revenue $0

TOTAL REVENUE $1,249,942

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $25,979

Other Expenses $27,842

TOTAL EXPENSES $27,842

Year-over-Year Comparison

	2021	2020	Change
Revenue	$1,249,942	$731	+1708.9%
Expenses	$27,842	$193,503	-0.9%
Net Income	$1,222,100	$-192,772	-7.3%

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

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

$785,783

Total Directors

$785,783

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
T DWAYNE MCCAY	PRESIDENT/ C	2.00	Officer Director	$0	$26,000	$785,783
DR RAYMOND A ARMSTRONG	TRUSTEE EMER	2.00	Director	$0	$0	$0
DR RICHARD N BANEY	TRUSTEE EMER	2.00	Director	$0	$0	$0
MR JOSEPH CARUSO	TRUSTEE	2.00	Director	$0	$0	$0
MR BRIAN CRANE	TRUSTEE	2.00	Director	$0	$0	$0
MR DALE DETMER	TRUSTEE	2.00	Director	$0	$0	$0
MS KRISTEN DREGGORS	TRUSTEE	2.00	Director	$0	$0	$0
GE ANN DUNWOODY	TRUSTEE	2.00	Director	$0	$0	$0
MS BOBBIE DYER	TRUSTEE	2.00	Director	$0	$0	$0
MR JOSEPH M FLAMMIO	TRUSTEE EMER	2.00	Director	$0	$0	$0
MR DOUG FLUTIE	TRUSTEE	2.00	Director	$0	$0	$0
MR THOMAS FOLLIARD	TRUSTEE	2.00	Director	$0	$0	$0
MR STEVEN FREEMAN	TRUSTEE	2.00	Director	$0	$0	$0
DR SVAFA GRONFELDT	TRUSTEE	2.00	Director	$0	$0	$0
MR JOHN R HEWITT	TRUSTEE	2.00	Director	$0	$0	$0
MR ERIK E JOH	TRUSTEE EMER	2.00	Director	$0	$0	$0
MS DANA KILBOURNE	TRUSTEE	2.00	Director	$0	$0	$0
MR RICHARD P MCNEIGHT	TRUSTEE	2.00	Director	$0	$0	$0
MR KENDALL T MOORE	TRUSTEE	2.00	Director	$0	$0	$0
MR WILLIAM R MUNS	TRUSTEE	2.00	Director	$0	$0	$0
MR JAMES L FISHER PHD	TRUSTEE EMER	2.00	Director	$0	$0	$0
MR ROBERT L PHEBUS	TRUSTEE	2.00	Director	$0	$0	$0
MR RICHARD R PORTER	TRUSTEE	2.00	Director	$0	$0	$0
MR WILLIAM C POTTER	TRUSTEE EMER	2.00	Director	$0	$0	$0
MR ALAN L PRESTWOOD	TRUSTEE	2.00	Director	$0	$0	$0
MR D TRAVIS PROCTOR	TRUSTEE	2.00	Director	$0	$0	$0
MR JAMES E PRUITT	TRUSTEE EMER	2.00	Director	$0	$0	$0
MR MICHAEL SCAFATI	TRUSTEE	2.00	Director	$0	$0	$0
MR SCOTT J SEYMOUR	TRUSTEE	2.00	Director	$0	$0	$0
MR MAHESH SHAH	TRUSTEE	2.00	Director	$0	$0	$0
MR F ALAN SMITH	TRUSTEE	2.00	Director	$0	$0	$0
MRS ELIZABETH J SWANN	TRUSTEE	2.00	Director	$0	$0	$0
MR VIKRAM VERMA	TRUSTEE	2.00	Director	$0	$0	$0
MR TIM WAKEFIELD	TRUSTEE	2.00	Director	$0	$0	$0
MR DAVID WELDON	TRUSTEE	2.00	Director	$0	$0	$0
MR JAMES WONG	TRUSTEE	2.00	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
2022	$1,249,942	$27,842	No data	$1,222,100
2020	$212,614	$310,312	$324,177	$-97,698
2019	$273,154	$321,440	$348,616	$-48,286
2018	$808,194	$434,339	$389,204	$373,855

FIT MUSEUM OF ART INC