The Baltimore Museum of Industry
Legal name: Baltimore Museum of Industry Inc
Nonprofit profile at a glance
- EIN
- 521205675
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Baltimore, MD, US
- Phone
- 410.727.4808
- Rating
- 81
- Verdict
- STRONG
- Rating confidence
- Standard
- Sector
- History Museums
Reported finances
- Revenue
- $2,496,121
- Expenses
- $2,730,275
- Assets
- $4,186,093
- Liabilities
- $3,105,769
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
25 people listed
Executive titles in this filing
- ANITA KASSOF (EXECUTIVE DIRECTOR)
Highest reported compensation
- ANITA KASSOF (EXECUTIVE DIRECTOR): $144,999 total reported compensation
- DEBORAH CADIN (DIRECTOR OF DEVELOPMENT): $118,170 total reported compensation
- PAULA HANKINS (DIRECTOR OF OPERATIONS & FINANCE): $105,752 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The Baltimore Museum of Industry interprets the diverse and significant human stories behind labor and innovation in Baltimore, cultivating a sense of belonging and inspiring visitors to think critically about the intersection of work and society.
What it reported doing in 2024
Public programming: through its public programming and campus activation in fy25, the bmi continues to find ways to create a welcoming environment for all community members. The monthly networking series, industry social club, featured rotating panels of experts in a variety of industries that power baltimore and fuel connection. Labor + innovation sought to explore the intersection of art and industry. The seasonal farmers market is an important gathering space for neighbors and a point of connection for local artisans and growers. In addition to those who took part in our public offerings, over 80,000 guests to the museum enjoyed our educational and immersive exhibits that grant a peek into the rich industrial history of baltimore.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Direct operator. The filing allocates 100% 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
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 73
- Transparency & Controls: 90
- Accountability: 100
- Sustainability: 25
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 84.5%; rating input score 84
- Program expense ratio: 76%; rating input score 76
- Fundraising efficiency: $3.47 raised per $1 spent on fundraising; rating input score 10; 10th percentile among comparable filings
Transparency & Controls
- Consistency checks: 87.5%; rating input score 88; 2nd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -9.4%; rating input score 14; 14th percentile among comparable filings
- Total-asset coverage ratio: 1.53; rating input score 52; 52nd percentile among comparable filings
- Liabilities to assets ratio: 0.74; rating input score 12; 12th percentile among comparable filings
- Officer compensation ratio: 15.3%; rating input score 18; 18th percentile among comparable filings
Growth
- Program expense growth: 5.7% per year; rating input score 100; 43rd percentile among comparable filings
- Revenue growth: 4.4% per year; rating input score 100; 37th percentile among comparable filings
- Asset growth: -0.5% per year; rating input score 0; 11th percentile among comparable filings
Details
- What they do: 5 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 84.5% of revenue deployed · 76% of spending went to programs
- Governance: 21 of 21 board members independent · 9 of 9 filing controls reported
- Programs: 3 filed program accomplishments · $2.1M in reported program spending
- Leadership: top reported pay $145K · 25 people listed
- Consistency: 31 of 33 current checks pass · 2 findings to review
- Schedules: 6 filed schedules · includes major donors
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 4 filed money-flow records
- Related organizations: 1 filed related-organization link
- 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Fundraising efficiency scored 10/100.
- High — Sustainability: Operating margin scored 14/100.
- High — Growth: Asset growth scored 0/100.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
- Review — Sustainability: Total-asset coverage ratio scored 52/100.
- High — Sustainability: Liabilities to assets ratio scored 12/100.
- High — Sustainability: Officer compensation ratio scored 18/100.