Georgia O'keeffe Museum

What it reported doing in 2024

To inspire all current and future generations, the museum preserves, presents and advances the artistic legacy of Georgia o'keeffe and modernism through innovative public engagement, education and research. The museum accomplishes this by presenting exhibitions nationally and internationally; caring for the permanent collection; providing excellent public programs, cutting-edge conservation techniques, access to the library and archives, and research by outside scholars about modernism; and serving as stewards for two of o'keeffe's historic homes and studios.the museum houses the world's largest collection of artwork by Georgia o'keeffe and provides an overview of her achievements during the eight decades (1901-1984) that she was active as an artist. The collection includes works in charcoal, oil, pastel, pencil, watercolor, and bronze, which represent most of the many subjects o'keeffe addressed in her art. The museum is committed to making its exhibitions and programs available to the broadest possible audience. Its active, changing exhibition schedule includes exhibitions displaying works by o'keeffe, other american modernists, and select living american artists. The museum has organized traveling exhibitions with other museums as well.the museum's multi-disciplinary education and public programs teach diverse constituencies about Georgia o'keeffe and american modernism through on-site programs such as docent training, professional development for educators, adult education, lectures, concerts, weekend family programs and hands-on activities related to current exhibitions. Offsite programs include a full-scholarship program for pre-adolescent girls and boys, arts programming to replace underfunded or eliminated district-funded programs in local public schools, after-school programming at community and local school sites, art-making workshops for adults, statewide education outreach, and workshops for teachers.the museum's research center focuses on interdisciplinary research on american modernism in the fields of art history, architectural history and design, literature, music and photography.the museum's audiences include New Mexico residents and visitors from across the country and around the world.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 75.5%; rating input score 75
• Fundraising efficiency: $1.78 raised per $1 spent on fundraising; rating input score 5; 5th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Scored; rating input score 0
• Grant itemization coverage: Scored; rating input score 0
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 100%; rating input score 100; 66th 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: -0.1%; rating input score 30; 30th percentile among comparable filings
• Total-asset coverage ratio: 12.63; rating input score 93; 93rd percentile among comparable filings
• Liabilities to assets ratio: 0.01; rating input score 92; 92nd percentile among comparable filings
• Officer compensation ratio: 14.7%; rating input score 9; 9th percentile among comparable filings

Growth

• Program expense growth: 6.1% per year; rating input score 100; 50th percentile among comparable filings
• Revenue growth: -0.4% per year; rating input score 0; 7th percentile among comparable filings
• Asset growth: 6.4% per year; rating input score 100; 45th percentile among comparable filings