THE O'KEEFFE MUSEUM FOUNDATION

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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

2016

Legal Domicile

Principal Officer

JANE BAGWELL

Phone

5059461000

Tax Period

2024-01-01 to 2024-12-31

THE O'KEEFFE MUSEUM FOUNDATION, founded in 2016, is a community nonprofit in the Arts, Culture & Humanities sector that reported $6.5M in total revenue in fiscal year 2024. Revenue fell 39% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $5.5M, a strong 85% operating margin.

Mission

THE ORGANIZATION OPERATES EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF THE GEORGIA O'KEEFFE MUSEUM.

Program Service Accomplishments

Program 1

Expenses: $542,549

TO SUPPORT, PERFORM THE FUNCTIONS OF, OR CARRY OUT THE PURPOSES AND CARE OF THE GEORGIA O'KEEFFE MUSEUM AND ITS COLLECTIONS. THE FOUNDATION IS PLAYING AN INTEGRAL ROLE IN THE DEVELOPMENT OF THE...

TO SUPPORT, PERFORM THE FUNCTIONS OF, OR CARRY OUT THE PURPOSES AND CARE OF THE GEORGIA O'KEEFFE MUSEUM AND ITS COLLECTIONS. THE FOUNDATION IS PLAYING AN INTEGRAL ROLE IN THE DEVELOPMENT OF THE CAPITAL CAMPAIGN FOR A PROPOSED NEW MUSEUM. IN 2021, THE MUSEUM ANNOUNCED THE BOLD AND INCLUSIVE VISION TO CREATE A REIMAGINED WORLD-CLASS MUSEUM FACILITY AND COMMUNITY GREEN SPACE. THE NEW PLANNED MUSEUM BUILDING IS 54,000 SQUARE FEET ON A ONE-ACRE LOT. CONSTRUCTION IS UNDERWAY, AND THE NEW MUSEUM IS SET TO OPEN IN 2027.

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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 $4,331,002

Program Service Revenue $0

Investment Income $2,126,492

Other Revenue $0

TOTAL REVENUE $6,457,494

Expense Breakdown

Grants Paid $0

Salaries & Benefits $199,227

Fundraising Expenses $310,751

Program Expenses $542,549

Other Expenses $644,573

TOTAL EXPENSES $939,800

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,457,494	$10,503,413	-0.4%
Expenses	$939,800	$1,147,250	-0.2%
Net Income	$5,517,694	$9,356,163	-0.4%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JANE BAGWELL	CHAIR	1.00	Officer Director	$0	$0	$0
DAVID WARNOCK	VICE CHAIR	1.00	Officer Director	$0	$0	$0
MICHAEL CANNON	TREASURER/SECRETARY (THRU 12/31/24)	2.30	Officer Director	$0	$0	$0
JACK KINZIE	BOARD MEMBER	1.00	Director	$0	$0	$0
ROXANNE DECYK	BOARD MEMBER	1.00	Director	$0	$0	$0
LYNNE HOHLFELD	BOARD MEMBER	1.00	Director	$0	$0	$0
JAY RALPH	BOARD MEMBER	1.00	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	$6,457,494	$939,800	$82,015,083	$5,517,694
2023	$10,503,413	$1,147,250	$76,300,659	$9,356,163
2022	$27,782,981	$1,342,214	$65,397,533	$26,440,767
2021	$24,399,680	$1,420,429	$37,410,321	$22,979,251
2020	$4,067,002	$111,967	$15,930,835	$3,955,035
2019	$2,600,000	No data	$10,588,155	No data
2018	$7,988,055	No data	$7,988,155	No data