SECONDMUSE FOUNDATION

EIN: 842181021 501(c)(3) Community Improvement

LAKE OSWEGO, OR

Total Revenue
$4,771,822
Total Expenses
$6,958,277
Total Assets
$4,645,845
Net Assets
$3,558,893
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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
2019
Legal Domicile
DE
Principal Officer
NICOLE MCDONALD
Phone
5148068023
Tax Period
2023-01-01 to 2023-12-31

SECONDMUSE FOUNDATION, founded in 2019, is a community nonprofit in the Community Improvement sector that reported $4.8M in total revenue in fiscal year 2023. Revenue decreased 17% compared to the prior year. Expenses of $7.0M exceeded revenue, resulting in a 46% operating deficit.

Mission

THE STATED MISSION OF SECONDMUSE FOUNDATION IS TO FOSTER AND DEVELOP DIVERSE, PARTICIPATORY INNOVATION COMMUNITIES THAT INCUBATE SOLUTIONS TO SOCIAL, ECONOMIC AND ENVIRONMENTAL ISSUES; INCLUDING THROUGH PUBLIC EDUCATION, FACILITATING THE ABILITY OF PRIVATE, COMMERCIAL ACTORS, ENTREPRENEURS AND GOVERNMENTS TO GENERATE SHARED VISIONS AND TAKE COLLECTIVE ACTION IN ADVANCING SOLUTIONS THAT ADDRESS ENVIRONMENTAL ISSUES AND LOCAL ECONOMIES, AND INCUBATING AND FUNDING PROGRAMS AND SOLUTIONS THAT ADVANCE SOCIAL, ENVIRONMENTAL AND/OR ECONOMIC JUSTICE. IT WILL ALSO GENERATE, CODIFY, AND PUBLISH LEARNINGS AND INSIGHTS AND FACILITATE BROADER DISCOURSE TO CATALYZE COMMUNITY DEVELOPMENT ON A LARGER SCALE.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $4,651,957
Program Service Revenue $0
Investment Income $119,865
Other Revenue $0
TOTAL REVENUE $4,771,822

Expense Breakdown

Grants Paid $773,725
Salaries & Benefits $1,395,698
Fundraising Expenses $0
Program Expenses $5,811,109
Other Expenses $4,788,854
TOTAL EXPENSES $6,958,277

Year-over-Year Comparison

2023 2022 Change
Revenue $4,771,822 $5,727,123 -0.2%
Expenses $6,958,277 $6,678,024 +0.0%
Net Income $-2,186,455 $-950,901 +1.3%
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

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Governance

Voting Members
6
Independent Members
4
Employees
15
Volunteers
N/A

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
2
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
NICOLE MCDONALD PRESIDENT 2.00
Officer Director
$0 $0 $0
ERICA BARBOSA TREASURER 2.00
Officer Director
$0 $0 $0
TODD KHOZEIN DIRECTOR 2.00
Director
$0 $0 $0
ANTHONY JEWETT DIRECTOR 2.00
Director
$0 $0 $0
SARAH OWEN DIRECTOR 2.00
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 $4,771,822 $6,958,277 $4,645,845 $-2,186,455
2022 $5,727,123 $6,678,024 $7,411,487 $-950,901
2021 $9,612,757 $4,387,004 $7,771,916 $5,225,753
2020 $2,298,432 $2,134,184 $2,254,621 $164,248
2020 $2,298,432 $2,134,184 $2,254,621 $164,248
2019 $1,699,029 $377,781 $1,679,481 $1,321,248
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