Tacoma Art 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

1935

Legal Domicile

Principal Officer

Andy Maus

Phone

2532724258

Tax Period

2023-07-01 to 2024-06-30

Tacoma Art Museum, founded in 1935, is a community nonprofit in the Arts, Culture & Humanities sector that reported $3.4M in total revenue in fiscal year 2023. Revenue surged 164% from the prior year, signaling strong growth momentum. Expenses of $5.6M exceeded revenue, resulting in a 67% operating deficit.

Mission

Tacoma Art Museum transforms our communities by sharing art that inspires broader perspectives and cultivates a compassionate future.

Program Service Accomplishments

Program 1

Expenses: $1,806,120 Revenue: $290,069

TAM presented 11 total exhibitions during FY24, including Impressionism at TAM, a partnership with Tacoma Arts Live to highlight Impressionism in our collection, always a popular draw among visitors; and Soft Power which used primarily textiles as a medium to express cultural heritage, & amplify social criticism.

Program 2

Expenses: $936,313 Revenue: $144,972

Museum services includes the TAM store, TAM Caf, and visitor services. The store features local artist designed jewelry, ceramics, and books by local authors and reflect current exhibitions. TAM caf offers freshly made entrees and coffee sourced from local roasters. TAM rents museum facilities to local business group meetings, community service organizations, exhibition openings, and private events.

Program 3

Expenses: $302,207 Revenue: $15,627

TAM's education program empowers visitors to find and create meaning with art in order to build an empathetic and collaborative community through programs and tours, in gallery activities and audio tours, art workshops and creative opportunities. During one of TAM's most popular programs, Neighborhood Nights, the museum is free and open to the public every Thursday from 5-8pm.

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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 $1,658,437

Program Service Revenue $450,668

Investment Income $1,116,540

Other Revenue $124,818

TOTAL REVENUE $3,350,463

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,677,673

Fundraising Expenses $527,905

Program Expenses $3,044,640

Other Expenses $2,900,731

TOTAL EXPENSES $5,597,439

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,350,463	$1,269,509	+1.6%
Expenses	$5,597,439	$6,239,359	-0.1%
Net Income	$-2,246,976	$-4,969,850	-0.5%

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

$201,824

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Andy Maus	Executive Dir.	40.00	Officer	$109,950	$17,602	$127,552
Nicole Curtis	Dir. of Finance	40.00	Officer	$68,652	$5,620	$74,272
Pamela Transue	President	2.00	Officer Director	$0	$0	$0
Dona Ponepinto	Vice President	2.00	Officer Director	$0	$0	$0
Kim Parris	Vice President	2.00	Officer Director	$0	$0	$0
Jacqueline Justice	Secretary	2.00	Officer Director	$0	$0	$0
Hoan Tran	Treasurer	2.00	Officer Director	$0	$0	$0
Jeff Williams	Past President	2.00	Officer Director	$0	$0	$0
Bernal Baca	Trustee	2.00	Director	$0	$0	$0
Brooke Benaroya Dickson	Trustee	2.00	Director	$0	$0	$0
Diane Bennion	Trustee	2.00	Director	$0	$0	$0
Klair Ethridge	Trustee	2.00	Director	$0	$0	$0
Addison Gregory	Trustee	2.00	Director	$0	$0	$0
Lori Forte Harnick	Trustee	2.00	Director	$0	$0	$0
Kim Kvaal	Trustee	2.00	Director	$0	$0	$0
Lisa Mansfield	Trustee	2.00	Director	$0	$0	$0
Jemima McCullum	Trustee	2.00	Director	$0	$0	$0
Ali Modarres	Trustee	2.00	Director	$0	$0	$0
Jerry O'Leary	Trustee	2.00	Director	$0	$0	$0
Gary Owen	Trustee	2.00	Director	$0	$0	$0
Neel Parikh	Trustee	2.00	Director	$0	$0	$0
Judy Perry	Trustee	2.00	Director	$0	$0	$0
Manny Santiago	Trustee	2.00	Director	$0	$0	$0
Lisa Sharp	Trustee	2.00	Director	$0	$0	$0
Chris Spadafore	Trustee	2.00	Director	$0	$0	$0
Janet Werner	Trustee	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
2025	No data	No data	No data	No data
2024	$3,350,463	$5,597,439	$58,575,495	$-2,246,976
2023	$1,269,509	$6,239,359	$58,931,631	$-4,969,850
2022	$8,108,662	$7,043,148	$66,150,691	$1,065,514
2021	$4,980,313	$5,125,452	$74,333,248	$-145,139