OLD DOMINION UNIVERSITY MUSEUM 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

2016

Legal Domicile

Phone

7576833144

Tax Period

2024-07-01 to 2025-06-30

OLD DOMINION UNIVERSITY MUSEUM FOUNDATION, founded in 2016, is a community nonprofit in the Arts, Culture & Humanities sector that reported $4.4M in total revenue in fiscal year 2024. Revenue fell 51% from the prior year — a significant decline worth monitoring. Expenses of $5.2M exceeded revenue, resulting in a 19% operating deficit.

Mission

THE BARRY ART MUSEUM IS A CULTURAL HUB AT OLD DOMINION UNIVERSITY THAT ADVANCES THE UNDERSTANDING OF ART IN ITS MANY DIVERSE FORMS THROUGH COLLECTING, DISPLAY, INTERPRETATION, AND RESEARCH. IT STRIVES TO COMMUNICATE THE RESULTS OF THESE ENDEAVORS TO THE WIDEST POSSIBLE AUDIENCE THROUGH PUBLICATION, EXHIBITION, EDUCATIONAL PROGRAMS, AND COLLECTIONS STEWARDSHIP.

Program Service Accomplishments

Program 1

Expenses: $4,980,859 Revenue: $21,588

FINANCIALLY AID AND SUPPORT THE ARTS PROGRAMS OF OLD DOMINION UNIVERSITY AND STRENGTHEN AND SUPPORT EDUCATION PURPOSES IN ACCORDANCE WITH THE RULES AND REGULATIONS OF OLD DOMINION UNIVERSITY.

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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 $4,253,780

Program Service Revenue $0

Investment Income $89,627

Other Revenue $21,588

TOTAL REVENUE $4,364,995

Expense Breakdown

Grants Paid $4,043,353

Salaries & Benefits $0

Fundraising Expenses $79,961

Program Expenses $4,980,859

Other Expenses $1,161,947

TOTAL EXPENSES $5,205,300

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,364,995	$8,993,448	-0.5%
Expenses	$5,205,300	$3,832,022	+0.4%
Net Income	$-840,305	$5,161,426	-1.2%

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

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

$806,271

Total Directors

$1,258,765

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LEWIS W WEBB III	PRESIDENT	2.0	Officer Director	$0	$0	$0
MICHELLE B WARDEN	SECRETARY	1.0	Officer Director	$0	$0	$0
ROBERT WOJTOWICZ	INTERIM EXEC DIR (EFF. 11/24.) EX-OFFICIO FROM 7/1 TO 10/24)	40.0	Officer Director	$0	$50,810	$296,008
W LLOYD TALIAFERRO	TREASURER	1.0	Officer Director	$0	$0	$0
YVONNE T ALLMOND	VICE PRESIDENT	2.0	Officer Director	$0	$0	$0
BRIAN O HEMPHILL	EX-OFFICIO	0.1	Director	$0	$71,094	$962,757
CAROLYN K BARRY	DIRECTOR	1.0	Director	$0	$0	$0
DAVID R GOODE	DIRECTOR	1.0	Director	$0	$0	$0
HARRY T LESTER	DIRECTOR	1.0	Director	$0	$0	$0
JOHN R BRODERICK	DIRECTOR EMERITUS	N/A	Director	$0	$0	$0
KATHLEEN A BRODERICK	DIRECTOR EMERITUS	N/A	Director	$0	$0	$0
RICHARD F BARRY III	DIRECTOR	2.0	Director	$0	$0	$0
CHARLOTTTE P KASIC	EXECUTIVE DIRECTOR (7/1 TO 10/2024)	40.0	Officer	$0	$35,202	$173,722
LINDA CAGNEY HIRTZ	ASSISTANT SECRETARY	40.0	Officer	$0	$27,696	$95,183
MICHAEL S LAROCK	ASSISTANT TREASURER	5.0	Officer	$0	$38,368	$241,358

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	$4,364,995	$5,205,300	$12,365,503	$-840,305
2024	$8,993,448	$3,832,022	$12,993,400	$5,161,426
2023	$724,703	$1,177,514	$7,881,425	$-452,811
2022	$1,813,062	$1,072,069	$8,337,804	$740,993
2021	$355,534	$775,740	$7,551,637	$-420,206
2020	$1,377,015	$740,685	$7,959,862	$636,330

OLD DOMINION UNIVERSITY MUSEUM FOUNDATION