THE HERMITAGE MUSEUM AND GARDENS

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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

JEN DUNCAN

Phone

7574232052

Tax Period

2023-01-01 to 2023-12-31

THE HERMITAGE MUSEUM AND GARDENS, founded in 2016, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.4M in total revenue in fiscal year 2023. Revenue fell 39% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $484K, a strong 20% operating margin.

Mission

THE HERMITAGE MUSEUM AND GARDENS PRESERVES THE DISTINCT BEAUTY OF ITS NATURAL ENVIRONMENT; CONSERVES AND SHARES ITS MULTI-CULTURAL COLLECTION; PROMOTES AND EDUCATES TO INSPIRE AN APPRECIATION FOR ART AND NATURE; AND CULTIVATES A SPIRIT OF STEWARDSHIP WHILE PAYING TRIBUTE TO ITS RICH LEGACY.

Program Service Accomplishments

Program 1

Expenses: $108,187 Revenue: $139,815

CURATORIAL & INTERPRETATIONS INCLUDES EXHIBITIONS OF THE COLLECTION AS WELL AS CURATED EXHIBITIONS BY WELL-KNOWN ARTISTS.

Program 2

Expenses: $314,546 Revenue: $203,623

MUSEUM PROGRAMS INCLUDES PUBLIC EVENTS SUCH AS THE SUNSETS ON THE RIVER CONCERT SERIES, INSTRUMENTAL RECITALS, THEATRE PERFORMANCES IN THE MUSEUM, ROAST & TOAST, GYMKHANA, THE HERMITAGE HANDMADE...

MUSEUM PROGRAMS INCLUDES PUBLIC EVENTS SUCH AS THE SUNSETS ON THE RIVER CONCERT SERIES, INSTRUMENTAL RECITALS, THEATRE PERFORMANCES IN THE MUSEUM, ROAST & TOAST, GYMKHANA, THE HERMITAGE HANDMADE FESTIVAL AND THE PLANT SALE.

Program 3

Expenses: $1,096,617 Revenue: $6,830

ADDITIONAL PROGRAMS TO SUPPORT OPERATION AND MAINTENANCE OF AN ART MUSEUM, HISTORIC HOUSE, AND GARDENS FOR THE EDUCATION AND ENJOYMENT OF THE PUBLIC, INCLUDING ART PROGRAMS AND INSTRUCTION.

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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 $1,845,171

Program Service Revenue $343,438

Investment Income $0

Other Revenue $197,701

TOTAL REVENUE $2,386,310

Expense Breakdown

Grants Paid $0

Salaries & Benefits $923,219

Fundraising Expenses $0

Program Expenses $1,519,350

Other Expenses $979,064

TOTAL EXPENSES $1,902,283

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,386,310	$3,885,276	-0.4%
Expenses	$1,902,283	$1,547,623	+0.2%
Net Income	$484,027	$2,337,653	-0.8%

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

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

$145,582

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JANET AGUILAR	DIRECTOR	5.00	Director	$0	$0	$0
MICHAEL HULL	DIRECTOR	5.00	Director	$0	$0	$0
KAY STINE	SECRETARY	5.00	Officer Director	$0	$0	$0
RICHARD DIAMONSTEIN	OFFICER	5.00	Officer Director	$0	$0	$0
SEAN FLYNN	DIRECTOR	5.00	Director	$0	$0	$0
CHRISTIE THOMAS	DIRECTOR	5.00	Director	$0	$0	$0
CHRISTINA GOODE	DIRECTOR	5.00	Director	$0	$0	$0
IAN HOLDER	DIRECTOR	5.00	Director	$0	$0	$0
SOLOMON ISEKEIJE	VICE CHAIRMAN	5.00	Officer Director	$0	$0	$0
MICHELLE KASTNER	DIRECTOR	5.00	Director	$0	$0	$0
LINDA LAIBSTAIN	DIRECTOR	5.00	Director	$0	$0	$0
ROBERT W MCFARLAND	DIRECTOR	5.00	Director	$0	$0	$0
JANE CADY RATHBONE	DIRECTOR	5.00	Director	$0	$0	$0
ANN STOKES	CHAIRMAN	5.00	Officer Director	$0	$0	$0
LAURA UNGERMAN	DIRECTOR	5.00	Director	$0	$0	$0
MARGUERITE KNOX VAIL	DIRECTOR	5.00	Director	$0	$0	$0
JASON WALLACE	TREASURER	5.00	Officer Director	$0	$0	$0
JEN DUNCAN	EXECUTIVE DIRECTOR	40.00	Director	$145,582	$0	$145,582
SHIRLEY BALDWIN	DIRECTOR	5.00	Director	$0	$0	$0
THOM WHITE	DIRECTOR	5.00	Director	$0	$0	$0
TED ENRIGHT	DIRECTOR	5.00	Director	$0	$0	$0
DARTHAN KANE	DIRECTOR	5.00	Director	$0	$0	$0
PHILIP SHERRILL	DIRECTOR	5.00	Director	$0	$0	$0
PAM COMBS	DIRECTOR	5.00	Director	$0	$0	$0
CLAYTON SINGLETON	DIRECTOR	5.00	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	No data	No data	No data	No data
2023	$2,386,310	$1,902,283	$6,019,256	$484,027
2022	$3,885,276	$1,547,623	$3,194,251	$2,337,653
2021	$1,858,618	$1,614,738	$905,671	$243,880
2020	$1,381,915	$1,355,709	$730,399	$26,206
2019	$1,452,823	$1,475,453	$486,869	$-22,630
2018	$1,406,373	$1,383,734	$440,771	$22,639