FRIENDS OF THE BASS MUSEUM INC (EIN 592017511) - 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

1980

Legal Domicile

Phone

3056737530

Tax Period

2023-10-01 to 2024-09-30

FRIENDS OF THE BASS MUSEUM INC, founded in 1980, is a community nonprofit in the Arts, Culture & Humanities sector that reported $6.0M in total revenue in fiscal year 2023. Revenue grew 14% year-over-year, indicating healthy expansion. Net assets of $13.6M represent 27 months of operating reserves.

Mission

THE BASS, MIAMI BEACH'S CONTEMPORARY ART MUSEUM, SHARES THE POWER OF CONTEMPORARY ART THROUGH EXPERIENCES THAT EXCITE, CHALLENGE AND EDUCATE.

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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 $4,219,065

Program Service Revenue $1,394,570

Investment Income $102,937

Other Revenue $299,146

TOTAL REVENUE $6,015,718

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,262,835

Fundraising Expenses $1,062,014

Program Expenses $4,242,072

Other Expenses $3,781,831

TOTAL EXPENSES $6,044,666

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,015,718	$5,256,127	+0.1%
Expenses	$6,044,666	$6,046,722	0.0%
Net Income	$-28,948	$-790,595	-1.0%

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

$264,379

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CLARA BULLRICH	TREASURER	3.0	Officer Director	$0	$0	$0
DIANE LIEBERMAN	PRESIDENT	3.0	Officer Director	$0	$0	$0
GEORGE LINDEMANN	CHAIRMAN	3.0	Officer Director	$0	$0	$0
LAURA PAREKSY GOULD	SECRETARY	3.0	Officer Director	$0	$0	$0
ALI SCHARF-MATLICK	BOARD MEMBER	2.0	Director	$0	$0	$0
ALINA T HUDAK	BOARD MEMBER (THRU 05/2024)	2.0	Director	$0	$0	$0
ALISA ROMANO	BOARD MEMBER	2.0	Director	$0	$0	$0
ARIEL PENZER MILGROOM	BOARD MEMBER	2.0	Director	$0	$0	$0
BARBARA BECKER	BOARD MEMBER	2.0	Director	$0	$0	$0
BETH DOZORETZ	BOARD MEMBER	2.0	Director	$0	$0	$0
BRIAN EHRLICH	BOARD MEMBER	2.0	Director	$0	$0	$0
CATHY VEDOVI	BOARD MEMBER	2.0	Director	$0	$0	$0
DAN OCH	BOARD MEMBER	2.0	Director	$0	$0	$0
DAVID MARTIN	BOARD MEMBER	2.0	Director	$0	$0	$0
DOUG KIMMELMAN	BOARD MEMBER	2.0	Director	$0	$0	$0
ERIC CARPENTER	BOARD MEMBER (AS OF 05/2024)	2.0	Director	$0	$0	$0
HUGH BUSH	BOARD MEMBER	2.0	Director	$0	$0	$0
IVANA BERENDIKA	BOARD MEMBER	2.0	Director	$0	$0	$0
JEAN-JACQUES MURRAY	BOARD MEMBER	2.0	Director	$0	$0	$0
LISA HEIDEN-KOFFLER	BOARD MEMBER	2.0	Director	$0	$0	$0
LORENA GOMEZ	BOARD MEMBER	2.0	Director	$0	$0	$0
LORI REINSBERG	BOARD MEMBER	2.0	Director	$0	$0	$0
MICHAEL COLLINS	BOARD MEMBER	2.0	Director	$0	$0	$0
MIMI KUPPIN	BOARD MEMBER (AS OF 05/2024)	2.0	Director	$0	$0	$0
OLGA BLAVATNIK	BOARD MEMBER	2.0	Director	$0	$0	$0
OSCAR SEIKALY	BOARD MEMBER	2.0	Director	$0	$0	$0
PAMELA LIEBMAN	BOARD MEMBER	2.0	Director	$0	$0	$0
SIMI AHUJA	BOARD MEMBER	2.0	Director	$0	$0	$0
STEVE NOVENSTEIN	BOARD MEMBER	2.0	Director	$0	$0	$0
THEA MITZMAN	BOARD MEMBER	2.0	Director	$0	$0	$0
THOMAS C MURPHY	BOARD MEMBER	2.0	Director	$0	$0	$0
TODD WHITE	BOARD MEMBER	2.0	Director	$0	$0	$0
TOM HEALY	BOARD MEMBER	2.0	Director	$0	$0	$0
TRACY WILSON MOURNING	BOARD MEMBER	2.0	Director	$0	$0	$0
TRUDY CEJAS	BOARD MEMBER	2.0	Director	$0	$0	$0
JEAN ORTEGA	DEPUTY DIRECTOR	40.0	Officer	$131,308	$10,786	$142,094
SILVIA KARMAN CUBINA	EXECUTIVE DIRECTOR & CHIEF CURATOR	40.0	Officer	$122,285	$0	$122,285
IVA KOSOVIC	DEVELOPMENT DIRECTOR	40.0	Highest	$105,385	$10,008	$115,393
JAMES VOORHIES	CHIEF CURATOR	40.0	Highest	$109,231	$10,124	$119,355

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	$6,015,718	$6,044,666	$14,248,288	$-28,948
2023	$5,256,127	$6,046,722	$14,139,101	$-790,595
2022	$3,807,371	$4,874,158	$14,536,779	$-1,066,787
2021	$3,183,331	$3,710,196	$15,827,665	$-526,865
2020	$4,135,949	$4,229,315	$16,157,339	$-93,366
2019	$5,134,434	$4,824,234	$16,012,891	$310,200
2018	$5,173,449	$4,908,151	$17,176,546	$265,298

FRIENDS OF THE BASS MUSEUM INC