Friends of the LSU Museum of Art (EIN 721054884) - 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

Legal Domicile

Phone

2253897200

Tax Period

2024-01-01 to 2024-12-31

Friends of the LSU Museum of Art is a small nonprofit in the Arts, Culture & Humanities sector that reported $210K in total revenue in fiscal year 2024. Revenue fell 29% from the prior year — a significant decline worth monitoring. Expenses of $265K exceeded revenue, resulting in a 26% operating deficit.

Mission

The purpose of the organization is to support the financial well being and advancement of the programs and activities of the LSU Museum of Art.

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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 $208,099

Program Service Revenue $2,000

Investment Income $0

Other Revenue $0

TOTAL REVENUE $210,099

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $257,853

Other Expenses $265,095

TOTAL EXPENSES $265,095

Year-over-Year Comparison

	2024	2023	Change
Revenue	$210,099	$295,149	-0.3%
Expenses	$265,095	$129,623	+1.0%
Net Income	$-54,996	$165,526	-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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Clarke Gernon Jr	President	2.00	Officer Director	$0	$0	$0
Brad Way	Vice Pres	2.00	Officer Director	$0	$0	$0
Jim Fairchild	Sec/Treas	2.00	Officer Director	$0	$0	$0
Brad Borgoyne	Director	2.00	Director	$0	$0	$0
Mandy LeCerte	Director	2.00	Director	$0	$0	$0
Claire Major	Director	2.00	Director	$0	$0	$0
Leone Eliott Jr	Director	2.00	Director	$0	$0	$0
Ann Wilkinson	Director	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
2024	$210,099	$265,095	$238,526	$-54,996
2023	No data	No data	No data	No data

Friends of the LSU Museum of Art