KMAC MUSEUM (EIN 610985312) - 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

1981

Legal Domicile

Phone

5025890102

Tax Period

2024-07-01 to 2025-06-30

KMAC MUSEUM, founded in 1981, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.2M in total revenue in fiscal year 2024. Expenses of $1.6M exceeded revenue, resulting in a 34% operating deficit.

Mission

KMAC IS LOUISVILLES PREMIER CONTEMPORARY ART MUSEUM IN DOWNTOWN LOUISVILLE ON MUSEUM ROW. THROUGH EXHIBITIONS, EDUCATION, AND OUTREACH, KMAC WORKS TO CONNECT PEOPLE TO ART AND CREATIVE PRACTICE.

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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 $861,413

Program Service Revenue $100,627

Investment Income $127,956

Other Revenue $100,235

TOTAL REVENUE $1,190,231

Expense Breakdown

Grants Paid $0

Salaries & Benefits $832,285

Fundraising Expenses $84,246

Program Expenses $1,200,987

Other Expenses $758,724

TOTAL EXPENSES $1,591,009

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,190,231	$1,205,828	0.0%
Expenses	$1,591,009	$1,716,863	-0.1%
Net Income	$-400,778	$-511,035	-0.2%

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

210

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

$78,083

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHELLE STAGGS	EXECUTIVE DIRECTOR	0.00	Highest	$106,733	$0	$106,733
JOEY YATES	CURITORIAL DIRECTOR	0.00	Key Emp	$78,083	$0	$78,083

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	$1,190,231	$1,591,009	$5,307,840	$-400,778
2024	$1,205,828	$1,716,863	$5,541,970	$-511,035
2023	$1,480,077	$1,660,227	$6,139,102	$-180,150
2022	$2,758,645	$1,343,192	$7,413,702	$1,415,453
2021	$857,618	$1,009,360	$6,171,593	$-151,742
2020	$1,086,379	$1,366,348	$6,172,712	$-279,969
2018	$1,171,141	$1,167,334	$6,727,170	$3,807

KMAC MUSEUM