FLORIDA ASSOCIATION OF MUSEUMS FOU… - Form 990 Financial Data

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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

1991

Legal Domicile

Principal Officer

MALINDA HORTON

Phone

8502226208

Tax Period

2023-01-01 to 2023-12-31

FLORIDA ASSOCIATION OF MUSEUMS FOUNDATION INC, founded in 1991, is a small nonprofit in the Arts, Culture & Humanities sector that reported $120K in total revenue in fiscal year 2023. Revenue fell 20% from the prior year — a significant decline worth monitoring. Expenses of $161K exceeded revenue, resulting in a 34% operating deficit.

Mission

THE FLORIDA ASSOCIATION OF MUSEUMS IS THE NOT-FOR-PROFIT PROFESSIONAL ORGANIZATION FOR FLORIDA'S MUSEUMS AND MUSEUM PROFESSIONALS. THE MISSION OF THE ASSOCIATION IS TO REPRESENT AND ADDRESS THE NEEDS OF THE MUSEUM COMMUNITY, ENHANCING THE ABILITY OF MUSEUMS TO SERVE THE PUBLIC INTEREST. THE ASSOCIATION ENCOURAGES EXCELLENCE IN ITS MEMBERS BY PROMOTING COMMUNICATION THROUGH WHICH ITS MEMBERS SHARE INFORMATION AND RESOURCES, EFFECT LEGISLATION AND PROMOTE SUPPORT OF MUSEUMS.

Program Service Accomplishments

Program 1

Expenses: $70,503 Revenue: $68,519

EDUCATIONAL MEETING AND WORKSHOPS ATTENDED BY APPROXIMATELY 250 MUSEUM STAFF PERSONS.

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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 $51,634

Program Service Revenue $68,519

Investment Income $3

Other Revenue $0

TOTAL REVENUE $120,156

Expense Breakdown

Grants Paid $0

Salaries & Benefits $55,650

Fundraising Expenses $0

Program Expenses $128,292

Other Expenses $105,077

TOTAL EXPENSES $160,727

Year-over-Year Comparison

	2023	2022	Change
Revenue	$120,156	$150,961	-0.2%
Expenses	$160,727	$171,192	-0.1%
Net Income	$-40,571	$-20,231	+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

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

$111,300

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TIFFANY LA BRITT	BOARD MEMBER	1.00	Director	$0	$0	$0
SAMUEL JOSEPH	SECRETARY	1.00	Officer Director	$0	$0	$0
MELISSA KENDRICK	TREASURER	1.00	Officer Director	$0	$0	$0
JON HILL	BOARD MEMBER	1.00	Director	$0	$0	$0
LINDSAY HUBAN	CHAIR	1.00	Officer Director	$0	$0	$0
TERRANCE HUNTER	BOARD MEMBER	1.00	Director	$0	$0	$0
TISH SHEESLEY	BOARD MEMBER	1.00	Director	$0	$0	$0
JANET WHITE	BOARD MEMBER	1.00	Director	$0	$0	$0
MALINDA HORTON	EXECUTIVE DIRECTOR	20.00	Officer	$55,650	$0	$111,300

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	$120,156	$160,727	$181,209	$-40,571
2022	$150,961	$171,192	$211,873	$-20,231
2021	$72,399	$59,656	$216,606	$12,743
2020	$55,826	$53,619	$202,129	$2,207
2019	$79,143	$127,579	$199,922	$-48,436
2018	$367,464	$171,588	$248,450	$195,876

FLORIDA ASSOCIATION OF MUSEUMS FOUNDATION INC