Cedar Rapids Museum of Art

Nonprofit profile at a glance

EIN
420680248
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Cedar Rapids, IA, USA
Phone
3193667503
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Art Museums

Official website

Reported finances

Revenue
$1,063,232
Expenses
$1,417,766
Assets
$11,225,411
Liabilities
$208,399

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

Leadership & pay

25 people listed

Executive titles in this filing

  • JONES SAM (PRESIDENT)
  • RINGS RANDY (VICE PRESIDENT)
  • ULMER SEAN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ULMER SEAN (EXECUTIVE DIRECTOR): $143,231 total reported compensation

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

Overview

Mission

To excite, engage and educate through the arts.

What it reported doing in 2024

The cedar rapids museum of art (crma) maintains and operates an art museum with a permanent collection of approximately 8,000 works of art. Crma has sixteen galleries in which it organizes a dozen or more exhibitions annually. Crma is open six days a week and receives more than 30,000 visitors annually, including several thousand children. Many educational programs are held at the museum and at offsite locations, including public libraries. Crma also owns the original grant wood studio, a nearby historic house property where the american artist lived from 1924-1935. The studio is open for free tours on most weekends april through december.

Operating model

Revenue model
Donor-supported. 64% of the money available for current operations came from contributions and gifts.
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: 86
  • Transparency & Controls: 92
  • Accountability: 95
  • Sustainability: 40
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 78%; rating input score 78
  • Fundraising efficiency: $9.65 raised per $1 spent on fundraising; rating input score 37; 37th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -33.3%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 7.92; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 63; 63rd percentile among comparable filings
  • Officer compensation ratio: 10.1%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: 3.9% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: -4% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: -6.6% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 78% of spending went to programs
  • Governance: 24 of 24 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $143K · 25 people listed
  • Consistency: 34 of 34 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 37/100.
  • High — Sustainability: Operating margin scored 5/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.