Florida Association of Museums Foundation Inc

Nonprofit profile at a glance

EIN
593067861
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Tallahassee, FL, USA
Phone
8502226208
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Museum, Museum Activities

Official website

Reported finances

Revenue
$142,057
Expenses
$148,304
Assets
$175,862
Liabilities
$28,539

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

Leadership & pay

12 people listed

Executive titles in this filing

  • MALINDA HORTON (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MALINDA HORTON (EXECUTIVE DIRECTOR): $64,925 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 Florida association of museums is the not-for-profit professional organization for Florida's museums and museum professionals. The mission of the association is to represent and address the needs of the museum community, enhancing the ability of museums to serve the public interest. The association encourages excellence in its members by promoting communication through which its members share information and resources, effect legislation and promote support of museums.

What it reported doing in 2024

Publications, newsletter, and electronic communications to inform approximately 900 individual and 50 affiliate members of various developments concerning Florida museums. Materials distributed include brochures and booklets to inform and educate the public regarding various museum exhibits and projects. Development of a mobile app to enhance the ability of museums to serve the public interest.

Operating model

Revenue model
Grant-funded. 70% of the money available for current operations came from government grants.
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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 31
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.6%; rating input score 84
  • Program expense ratio: 80.1%; rating input score 80
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 5 of 8 controls in place; rating input score 62
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -4.4%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 1.19; rating input score 45; 45th percentile among comparable filings
  • Liabilities to assets ratio: 0.16; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 43.8%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: -4.3% per year; rating input score 0; 18th percentile among comparable filings
  • Revenue growth: -7.4% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: 7% per year; rating input score 100; 55th percentile among comparable filings

Details

  • Where the money goes: 83.6% of revenue deployed · 80.1% of spending went to programs
  • Governance: 11 of 11 board members independent · 5 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $119K in reported program spending
  • Leadership: top reported pay $65K · 12 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

Key Signals

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

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 30/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 45/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.