NORTON SIMON MUSEUM OF ART AT PASADENA

EIN: 951644606 501(c)(3) Arts, Culture & Humanities

PASADENA, CA

Total Revenue
$12,912,703
Total Expenses
$8,356,154
Total Assets
$126,962,845
Net Assets
$125,857,682
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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
1924
Legal Domicile
CA
Principal Officer
WALTER W TIMOSHUK
Phone
6264496840
Tax Period
2023-07-01 to 2024-06-30

NORTON SIMON MUSEUM OF ART AT PASADENA, founded in 1924, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $12.9M in total revenue in fiscal year 2023. Revenue surged 59% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.6M, a strong 35% operating margin.

Mission

THE FOLLOWING FOOTNOTE IS INCLUDED IN THE MUSEUM'S AUDITED FINANCIAL STATEMENTS: "IN CONFORMITY WITH ACCOUNTING POLICIES GENERALLY FOLLOWED BY ART MUSEUMS, THE VALUE OF THE MUSEUM'S COLLECTIONS HAS BEEN EXCLUDED FROM THE STATEMENTS OF FINANCIAL POSITION, AND GIFTS OF ART OBJECTS ARE EXCLUDED FROM THE STATEMENTS OF ACTIVITIES. PURCHASES OF ART OBJECTS BY THE MUSEUM WOULD BE SEPARATELY IDENTIFIED AS DECREASES IN NET ASSETS IN THE STATEMENTS OF ACTIVITIES. IT IS THE MUSEUM'S POLICY TO DESIGNATE PROCEEDS FROM THE SALE OF ART FOR THE ACQUISITION OF ART. THE COLLECTIONS ARE MAINTAINED FOR PUBLIC EXHIBITION, EDUCATION, AND RESEARCH IN FURTHERANCE OF PUBLIC SERVICE, RATHER THAN FOR FINANCIAL GAIN."

Program Service Accomplishments

Program 1
Expenses: $6,257,275 Revenue: $1,485,616

OPERATION OF A PUBLIC ART MUSEUM, WHICH IS OPEN FIVE DAYS PER WEEK. HISTORICAL ANNUAL ATTENDANCE IS APPROXIMATELY 160,000. MUSEUM PROGRAMS INCLUDE GUIDED TOURS AND EDUCATIONAL AND FAMILY PROGRAMING...

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OPERATION OF A PUBLIC ART MUSEUM, WHICH IS OPEN FIVE DAYS PER WEEK. HISTORICAL ANNUAL ATTENDANCE IS APPROXIMATELY 160,000. MUSEUM PROGRAMS INCLUDE GUIDED TOURS AND EDUCATIONAL AND FAMILY PROGRAMING CONDUCTED THROUGHOUT THE YEAR BOTH ONLINE AND LIVE AT THE MUSEUM.

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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 $6,515,987
Program Service Revenue $1,242,066
Investment Income $4,911,100
Other Revenue $243,550
TOTAL REVENUE $12,912,703

Expense Breakdown

Grants Paid $0
Salaries & Benefits $5,434,763
Fundraising Expenses $0
Program Expenses $6,257,275
Other Expenses $2,921,391
TOTAL EXPENSES $8,356,154

Year-over-Year Comparison

2023 2022 Change
Revenue $12,912,703 $8,122,339 +0.6%
Expenses $8,356,154 $7,502,686 +0.1%
Net Income $4,556,549 $619,653 +6.4%
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

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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
13
Independent Members
12
Employees
165
Volunteers
12

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
6
$2,360,083
Total Directors
14
$1,065,846
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WALTER W TIMOSHUK PRESIDENT & CEO 30.0
Officer Director
$430,145 $205,556 $1,065,846
RONALD H DYKHUIZEN CFO/VP/TREASURER/ASSISTANT SEC 30.0
Officer
$339,853 $139,186 $818,892
STEPHANIE VILLASENOR SECRETARY & VICE PRESIDENT 12.5
Officer
$61,511 $35,546 $281,588
LESLIE DENK VICE PRESIDENT 12.5
Officer
$36,332 $48,429 $193,757
EMILY TALBOT CHIEF CURATOR 25.0
Highest
$60,953 $34,782 $156,688
JOHN GRISWOLD CONSERVATOR 12.5
Highest
$30,683 $32,629 $155,360
JOHN ARMOUR TRUSTEE 1.0
Director
$0 $0 $0
PAMELA SIMON TRUSTEE 1.0
Director
$0 $0 $0
KERRY C O'NEILL TRUSTEE 1.0
Director
$0 $0 $0
RONALD L OLSON TRUSTEE 1.0
Director
$0 $0 $0
DR MICHAEL E PHELPS TRUSTEE 1.0
Director
$0 $0 $0
DR EARL A POWELL III TRUSTEE (THRU 11/12/2023) 1.0
Director
$0 $0 $0
VICTORIA B ROGERS TRUSTEE 1.0
Director
$0 $0 $0
DOUGLAS SIMON TRUSTEE 1.0
Director
$0 $0 $0
PAUL J WATFORD TRUSTEE 1.0
Director
$0 $0 $0
TOM BROKAW TRUSTEE & VICE CHAIR 1.0
Officer Director
$0 $0 $0
THOMAS L PFISTER TRUSTEE & CHAIR 2.0
Officer Director
$0 $0 $0
STEPHEN W CLARK TRUSTEE (BEG 11/8/2023) 1.0
Director
$0 $0 $0
JUDGE KIM MCLANE WARDLAW TRUSTEE (BEG 11/8/2023) 1.0
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 $12,912,703 $8,356,154 $126,962,845 $4,556,549
2023 $8,122,339 $7,502,686 $115,359,890 $619,653
2022 $8,597,613 $6,639,327 $108,398,977 $1,958,286
2021 $8,241,771 $5,686,210 $122,399,582 $2,555,561
2020 $5,499,014 $6,844,739 $102,922,393 $-1,345,725
2019 $8,104,154 $7,014,802 $101,399,417 $1,089,352
2018 $15,153,891 $6,528,269 $97,065,400 $8,625,622
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