Audrain Automobile Museum

Legal name: Audrain Automobile Museum Inc

Nonprofit profile at a glance

EIN
471918005
IRS 990 coverage
2020–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-T 2024
Location
Newport, RI, US
Phone
(401) 856-4420
Rating
42
Verdict
MIXED
Rating confidence
Standard
Sector
History Museums

Official website

Reported finances

Revenue
$2,925,059
Expenses
$2,803,234
Assets
$5,432,151
Liabilities
$5,372,216

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • NICHOLAS S SCHORSCH (DIRECTOR, PRESIDENT)
  • DAVID DE MUZIO (EXECUTIVE DIRECTOR)

Highest reported compensation

  • DAVID DE MUZIO (EXECUTIVE DIRECTOR): $208,603 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Preserving, Celebrating & Sharing Automotive History

What it reported doing in 2024

The organization, through its wholly owned subsidiary, audrain concours foundation, llc annually produces and hosts the "audrain newport concours and motor week," a car centric experience in newport Rhode Island. This 4 day event includes a fundraising gala, tour d' elegance, concours d' elegance and educational seminars on automobile related topics that celebrate and promote the public's interest in the preservation and presentation of automotive history.

Operating model

Revenue model
Donor-supported. 88% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 87% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 27
  • Transparency & Controls: 72
  • Accountability: 29
  • Sustainability: 49
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 29%; rating input score 29
  • Program expense ratio: 29.9%; rating input score 30
  • Fundraising efficiency: $3.73 raised per $1 spent on fundraising; rating input score 11; 11th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.4%; rating input score 94; 24th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 14.3%; rating input score 14; 6th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 4.2%; rating input score 48; 48th percentile among comparable filings
  • Total-asset coverage ratio: 1.94; rating input score 61; 61st percentile among comparable filings
  • Liabilities to assets ratio: 0.99; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 3.5%; rating input score 65; 65th percentile among comparable filings

Growth

  • Program expense growth: -10.6% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: -2.1% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: 14% per year; rating input score 100; 72nd percentile among comparable filings

Details

  • What they do: 3 programs and campaigns described on the official site · 2 operating locations identified
  • Where the money goes: 29% of revenue deployed · 29.9% of spending went to programs
  • Governance: 1 of 7 board members independent · 4 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $839K in reported program spending
  • Leadership: top reported pay $209K · 8 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 34 of 35 current checks pass · 1 finding to review
  • Schedules: 10 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 11 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 29/100.
  • High — Accountability: Independent voting board scored 14/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 30/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 11/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 48/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.