FORNEY MUSEUM

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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

1955

Legal Domicile

Principal Officer

CHRISTOF W KHEIM

Phone

3032971113

Tax Period

2023-01-01 to 2023-12-31

FORNEY MUSEUM, founded in 1955, is a small nonprofit in the Arts, Culture & Humanities sector that reported $695K in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year. Expenses of $1.1M exceeded revenue, resulting in a 52% operating deficit.

Mission

ANTIQUE TRANSPORTATION MUSEUM

Program Service Accomplishments

Program 1

Expenses: $712,289 Revenue: $268,105

THE MUSEUM OPERATES AS AN EDUCATIONAL INSTITUTION TO COLLECT AND PRESERVE ARTIFACTS RELATED TO HISTORY AND TECHNOLOGY OF ALL FORMS OF TRANSPORTATION. THE MUSEUM BOASTS A ONE- OF-A-KIND COLLECTION OF MORE THAN 600 ARTIFACTS RELATED TO HISTORICAL TRANSPORTATION. THE MUSEUM IS OPEN TO THE GENERAL PUBLIC, AND PEOPLE CAN EXPERIENCE EXHIBITS FEATURING ANTIQUE AUTOMOBILES FROM 1899 TO 1986, INCLUDING AMELIA EARHART'S KISSEL CAR, CARRIAGES, BICYCLES, MOTORCYCLES, FARM MACHINERY, ONE OF THE WORLD'S LARGEST STEAM LOCOMOTIVES, UNION PACIFIC'S "BIG BOY", AND MUCH MORE.

Program 2

THE FORNEY MUSEUM GIFT SHOP OFFERS A VARIETY OF ITEMS SURE TO PLEASE HISTORIC TRANSPORTATION FANS OF ALL AGES AND INTERESTS. PROCEEDS FROM THE MUSEUM GIFT SHOP SUPPORT THE ACTIVITIES AND EXHIBITS OF...

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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 $81,422

Program Service Revenue $268,105

Investment Income $26,341

Other Revenue $319,385

TOTAL REVENUE $695,253

Expense Breakdown

Grants Paid $0

Salaries & Benefits $308,543

Fundraising Expenses $16,419

Program Expenses $712,289

Other Expenses $748,688

TOTAL EXPENSES $1,058,031

Year-over-Year Comparison

	2023	2022	Change
Revenue	$695,253	$742,235	-0.1%
Expenses	$1,058,031	$1,066,413	0.0%
Net Income	$-362,778	$-324,178	+0.1%

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

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

$60,500

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRISTOF W KHEIM	EXECUTIVE DI	40.00	Officer	$60,500	$0	$60,500
CHRIS HILDENBRAND	PRESIDENT	2.50	Officer Director	$0	$0	$0
DR BRIAN CANADA	VICE PRESIDE	2.50	Officer Director	$0	$0	$0
CHERYL KLINKER	SECRETARY	2.00	Officer Director	$0	$0	$0
JAMES AMOS	TREASURER	3.00	Officer Director	$0	$0	$0
STEVE ANDERSON	DIRECTOR	1.00	Director	$0	$0	$0
PATRICIA FORNEY	DIRECTOR EME	0.50	Director	$0	$0	$0
DAVID FISHER	DIRECTOR	1.00	Director	$0	$0	$0
GEORGE A MALESICH	DIRECTOR EME	1.50	Director	$0	$0	$0
MICHAEL MURPHY	DIRECTOR EME	1.50	Director	$0	$0	$0
RAY PETROS	DIRECTOR	1.00	Director	$0	$0	$0
SHARON ROBINSON	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAM SANDER	DIRECTOR	1.00	Director	$0	$0	$0
RON WENGER	DIRECTOR	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	No data	No data	No data	No data
2023	$695,253	$1,058,031	$4,166,453	$-362,778
2022	$742,235	$1,066,413	$4,455,183	$-324,178
2021	$758,948	$874,231	$4,841,737	$-115,283
2020	$474,874	$765,017	$4,912,202	$-290,143
2019	$749,363	$868,796	$5,029,422	$-119,433
2018	$721,816	$771,930	$5,179,894	$-50,114