Headley-whitney Museum Inc

Nonprofit profile at a glance

EIN
610850306
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Lexington, KY, USA
Phone
8592556653
Rating
58
Verdict
MIXED
Rating confidence
Moderate
Sector
Art Museums

Official website

Reported finances

Revenue
$444,723
Expenses
$353,018
Assets
$5,798,316
Liabilities
$1

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

Leadership & pay

16 people listed

Executive titles in this filing

  • CATHY CLAY NEAL (President)

Highest reported compensation

  • CHRISTINA BELL (Executive Dir.): $85,000 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 museum seeks to connect people with their culture and the culture of others through the collections, interpretation and exhibition of the arts - jewelry, furniture, paintings, photography and textiles.

What it reported doing in 2024

The museum's educational programs inform the public about the significance of objects of their culture and the culture of others. Programs explain technique, design, and recognize the political and economic influences of decorative art and fine art.

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

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

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 92
  • Accountability: 0
  • Sustainability: 71
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 59%; rating input score 59
  • Program expense ratio: 73.3%; rating input score 73
  • Fundraising efficiency: $2.01 raised per $1 spent on fundraising; rating input score 9; 9th percentile among comparable filings

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: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 0 of 7 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 20.6%; rating input score 74; 74th percentile among comparable filings
  • Total-asset coverage ratio: 16.42; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 60; 60th percentile among comparable filings
  • Officer compensation ratio: 24.1%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: 3.9% per year; rating input score 100; 49th percentile among comparable filings
  • Revenue growth: 2.5% per year; rating input score 100; 38th percentile among comparable filings
  • Asset growth: -1.7% per year; rating input score 0; 19th percentile among comparable filings

Details

  • Where the money goes: 59% of revenue deployed · 73.3% of spending went to programs
  • Governance: 0 of 17 board members independent · 0 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $259K in reported program spending
  • Leadership: top reported pay $85K · 16 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 16 filing years from 2009 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.

Key Signals

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

  • High — Accountability: Independent voting board scored 0/100.
  • Review — Financial Efficiency: Mission deployment rate scored 59/100.
  • High — Accountability: Governance controls: 6 of 6 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 9/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.