MUSEUM CENTER PARK INC

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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

2015

Legal Domicile

Principal Officer

MARCELLE POLEDNIK

Phone

4142243200

Tax Period

2023-09-01 to 2024-08-31

MUSEUM CENTER PARK INC, founded in 2015, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $2.3M in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $2.1M left a modest 8% surplus.

Mission

TO LESSEN THE BURDENS OF GOVERNMENT BY ASSUMING IMMEDIATE AND LONG-TERM MAINTENANCE OBLIGATIONS TO PLAZAS, PAVILIONS AND PARKING FACILITIES LOCATED IN O'DONNELL PARK (THE "PARK").TO OPERATE AS AN INTEGRAL PART OF MILWAUKEE ART MUSEUM, INC. (MAM) IN FURTHERANCE OF ITS PURPOSE OF WORKING IN COOPERATION WITH PUBLIC ENTITIES TO PRESERVE, PROTECT AND MAINTAIN COUNTY-OWNED BUILDINGS, CITY PROPERTY AND LAKEFRONT LANDS.TO SUPPORT MAM'S PURPOSE OF ENHANCING THE LOCAL ARTISTIC CULTURAL IDENTITY OF THE GREATER MILWAUKEE AREA BY PROVIDING ADEQUATE PARKING TO PATRONS OF NEARBY CULTURAL INSTITUTIONS, INCLUDING THE MILWAUKEE ART MUSEUM, THE WAR MEMORIAL CENTER AND THE BETTY BRINN CHILDREN'S MUSEUM.TO IMPROVE THE ENVIRONMENT AND SAFETY OF THE PARK AND SURROUNDING AREAS BY RENOVATING AND MAINTAINING THE PARK'S PARKING STRUCTURE FOR THE BENEFIT OF THE COMMUNITY.TO SUPPORT MILWAUKEE COUNTY'S LONG-TERM PLANS OF PROVIDING GREATER PUBLIC ACCESS TO THE LAKE MICHIGAN LAKEFRONT.

Program Service Accomplishments

Program 1

Expenses: $2,032,758 Revenue: $2,090,628

TO LESSEN THE BURDENS OF GOVERNMENT, MUSEUM CENTER PARK INC. (MCP) OPERATES, MAINTAINS AND ACTS AS LESSOR FOR THE PLAZAS, PAVILIONS AND PARKING FACILITIES LOCATED AT O'DONNELL PARK. MCP ENHANCES THE LOCAL ARTISTIC CULTURAL IDENTITY OF THE GREATER MILWAUKEE AREA BY PROVIDING ADEQUATE PARKING IN THE AREA, PROVIDES GREATER PUBLIC ACCESS TO THE LAKE MICHIGAN LAKEFRONT AND SURROUNDING AREAS BY MAINTAINING THE PARK FOR THE PUBLIC'S USE AND ENJOYMENT, AND CONTINUES MILWAUKEE COUNTY'S PREVIOUSLY CONDUCTED ACTIVITIES OF PROVIDING PARKING FACILITIES TO THE GENERAL PUBLIC AND RENTAL SPACE TO LOCAL ORGANIZATIONS.

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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 $0

Program Service Revenue $2,089,362

Investment Income $7,816

Other Revenue $155,815

TOTAL REVENUE $2,252,993

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $2,032,758

Other Expenses $2,077,892

TOTAL EXPENSES $2,077,892

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,252,993	$1,913,369	+0.2%
Expenses	$2,077,892	$1,914,517	+0.1%
Net Income	$175,101	$-1,148	-153.5%

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

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

$804,706

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOEL QUADRACCI	PRESIDENT	1.00	Officer Director	$0	$0	$0
PETER DAMSGAARD	SECRETARY	1.00	Officer Director	$0	$0	$0
KATHY THORNTON-BIAS	TREASURER	1.00	Officer Director	$0	$0	$0
MARCELLE POLEDNIK	BAUMGARTNER DIRECTOR OF MA	1.00	Officer	$0	$30,475	$589,518
ALISSA KARL	CFO OF MAM	10.00	Officer	$0	$6,713	$215,188
DANIEL SOMERS	FACILITIES DIRECTOR	10.00	Highest	$0	$17,657	$144,312

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	No data	No data	No data	No data
2024	$2,252,993	$2,077,892	$13,611,063	$175,101
2023	$1,913,369	$1,914,517	$13,487,413	$-1,148
2022	$1,759,615	$2,003,677	$13,979,898	$-244,062
2021	$755,411	$1,611,758	$14,365,502	$-856,347
2020	$1,523,243	$1,969,023	$15,409,666	$-445,780
2019	$1,976,447	$2,086,549	$16,152,686	$-110,102
2018	$1,258,053	$1,504,022	$15,590,767	$-245,969