MUSEUM OF WESTERN COLORADO 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

1966

Legal Domicile

Principal Officer

KAIA MICHAELIS

Phone

9702420971

Tax Period

2023-01-01 to 2023-12-31

MUSEUM OF WESTERN COLORADO INC, founded in 1966, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.1M in total revenue in fiscal year 2023. Revenue decreased 20% compared to the prior year. Expenses of $1.2M exceeded revenue, resulting in a 13% operating deficit.

Mission

THE MUSEUM OF WESTERN COLORADO IS AN EDUCATIONAL INSTITUTION THAT COLLECTS, PRESERVES, AND INTERPRETS ARTIFACTS, SPECIMENS, AND INFORMATION CONCERNING THE CULTURAL AND NATURAL HISTORY OF WESTERN COLORADO AND THE CONTIGUOUS AREA. WE ENHANCE THE QUALITY OF LIFE FOR THE PUBLIC WE SERVE THROUGH RESEARCH, PROGRAMS, AND EXHIBITS TO PROMOTE AWARENESS, UNDERSTANDING, APPRECIATION AND PRESERVATION OF THE PAST AND PRESENT.

Program Service Accomplishments

Program 1

Expenses: $732,785 Revenue: $292,431

EXHIBITS - EXHIBITS AND EVENTS ASSOCIATED WITH THE MUSEUM OF THE WEST, CROSS ORCHARD AND DINOSAUR JOURNEY. ALL EXHIBITS ARE OF A HISTORICAL NATURE AND COMPLIMENT THE MUSEUM'S GOAL OF PROMOTING AND...

EXHIBITS - EXHIBITS AND EVENTS ASSOCIATED WITH THE MUSEUM OF THE WEST, CROSS ORCHARD AND DINOSAUR JOURNEY. ALL EXHIBITS ARE OF A HISTORICAL NATURE AND COMPLIMENT THE MUSEUM'S GOAL OF PROMOTING AND PRESERVING THE HISTORY OF WESTERN COLORADO FROM PREHISTORIC TIMES TO PRESENT.

Program 2

Expenses: $52,936 Revenue: $21,125

CURATORIAL - THE SELECTION, STUDY AND PRESERVATION OF HISTORICAL ARTIFACTS. THIS COVERS THE STUDY AND PROMOTION OF THE HISTORY OF WESTERN COLORADO FROM PREHISTORIC TIMES TO PRESENT. THIS ALSO...

CURATORIAL - THE SELECTION, STUDY AND PRESERVATION OF HISTORICAL ARTIFACTS. THIS COVERS THE STUDY AND PROMOTION OF THE HISTORY OF WESTERN COLORADO FROM PREHISTORIC TIMES TO PRESENT. THIS ALSO INCLUDES THE DESIGN AND DIRECTION OF THE MUSEUM AND ITS EXHIBITS.

Program 3

Expenses: $240,996 Revenue: $96,174

EDUCATIONAL - THESE PROGRAMS PROMOTE THE EDUCATION ASPECTS ASSOCIATED WITH OUR CORE PROGRAMS AT MUSEUM OF THE WEST, CROSS ORCHARD AND DINOSAUR JOURNEY. THE GOAL OF THESE PROGRAMS IS TO EDUCATE...

EDUCATIONAL - THESE PROGRAMS PROMOTE THE EDUCATION ASPECTS ASSOCIATED WITH OUR CORE PROGRAMS AT MUSEUM OF THE WEST, CROSS ORCHARD AND DINOSAUR JOURNEY. THE GOAL OF THESE PROGRAMS IS TO EDUCATE MEMBERS OF THE COMMUNITY AND OTHER INTERESTED PARTIES ON THE HISTORY OF WESTERN COLORADO FROM PREHISTORIC TIMES TO PRESENT. THE MUSEUM'S EDUCATIONAL PROGRAMS COMPLIMENT OUR CURATORIAL AND EXHIBIT PROGRAMS.

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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 $509,177

Program Service Revenue $409,730

Investment Income $32,643

Other Revenue $148,804

TOTAL REVENUE $1,100,354

Expense Breakdown

Grants Paid $0

Salaries & Benefits $710,993

Fundraising Expenses $35,632

Program Expenses $1,026,717

Other Expenses $527,936

TOTAL EXPENSES $1,238,929

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,100,354	$1,369,589	-0.2%
Expenses	$1,238,929	$1,056,221	+0.2%
Net Income	$-138,575	$313,368	-1.4%

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

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

$67,878

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KAIA MICHAELIS	PAST ED	40.00	Officer	$67,878	$0	$67,878
BRADY BLACKMER	DIRECTOR	2.00	Director	$0	$0	$0
BARB BOWMAN	DIRECTOR	2.00	Director	$0	$0	$0
BRYAN CAREI	DIRECTOR	2.00	Director	$0	$0	$0
CODY DAVIS	MESA CNTY RE	2.00	Director	$0	$0	$0
EDWARD GARDNER	EMERITUS	2.00	Director	$0	$0	$0
AARON HANCY	CITY OF FRUI	2.00	Director	$0	$0	$0
CHRISTINA HARNEY	VP & SECRETA	2.00	Director	$0	$0	$0
ERIKA JACKSON	DIRECTOR	2.00	Director	$0	$0	$0
CODY KENNEDY	CITY OF GJ R	2.00	Director	$0	$0	$0
KRISTY LINDQUIST	TREASURER	2.00	Director	$0	$0	$0
TOM OLIVER	PRESIDENT	2.00	Director	$0	$0	$0
REBECCA PETERSEN	DIRECTOR	2.00	Director	$0	$0	$0
STEVE SCROGGINS	DIRECTOR	2.00	Director	$0	$0	$0
SHENNA HYDEN	EXECUTIVE DI	40.00	Officer	$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	$1,100,354	$1,238,929	$5,586,978	$-138,575
2022	$1,369,589	$1,056,221	$5,591,945	$313,368
2021	$1,916,272	$1,037,927	$5,482,954	$878,345
2020	$947,814	$1,135,584	$4,702,983	$-187,770
2019	$1,347,524	$1,546,744	$4,536,377	$-199,220
2018	$1,423,533	$1,531,099	$4,693,282	$-107,566