Honolulu Museum of Art

What it reported doing in 2024

The essential character of the honolulu museum of art has always been grounded in three foundational elements: art of the highest quality, a firm belief in the power of art education, and a commitment to accessibility. Art of the highest quality knows no geographic boundaries or time parameters-it emerges from places both familiar and unfamiliar, and it can be found in the present moment and the distant past. Regardless of their origins, art works of the highest quality are united in that they embody incredible craftsmanship and express themes and ideas that are both timely to the moment in which they are created and convey a universal and lasting relevance. Similarly, art education does not have one mode of expression but is multi-faceted and dynamic; it spans a spectrum of engagement which ranges from the cerebral to the hands-on. Homa's long standing championship of art education has always sought to acknowledge and facilitate the broad range of ways that people are drawn into a life that is enriched by the arts and creativity, whether that be through intellectual engagement or hands-on art making. A commitment to accessibility is also a core characteristic that defines homa, and carries with it an inherent embrace of community and a celebration of diversity and inclusion. This commitment to accessibility has been with the museum in one form or another since its founding. During the fiscal year ended 2024, around 69,000 people visited homa to; view art in the galleries, participate in studio classes, attend a tour, watch a film, watch a performance, or engage in a variety of programming activities, which included workshops and panel discussions.the honolulu museum of art possesses an encyclopedic collection of works ranging from eastern and western antiquities up through contemporary 21st century artwork, with a special emphasis on works of art that reflect the diverse communities that call Hawaii home. The considerable collection includes the third largest collection of japanese woodblock prints in the united states, a textile collection ranging from ethnographic objects through contemporary clothing and costumes, and western art by some of the most influential modern masters and artistic movements: picasso, matisse, gauguin, van gogh, monet, seurat, whistler, and cassatt, to name a few. Homa has an active exhibition program that is culturally diverse and relevant to local, national, and international audiences. With exhibitions spanning time and place, the museum has strived to engage current conversations and narratives through visual language. The museum has worked with institutions, artists, and lenders both domestically and abroad to present exhibitions that are comprehensive and promote thought and dialogue. In 2024, homa presented the following exhibitions. Salman toor: no ordinary love (july 13 - oct 8, 2023)transformation: japanese modern art (july 27-oct. 15, 2023)david hockney: perspective should be reversed (nov. 18 - march 10, 2024)fashioning aloha (april - july 2024)rebecca louise law: awakening (through sept. 2023)a'aru//field of reeds (through sept. 2023)the exquisite corpses of takayanagi yutaka (through dec. 2023)lauren hana chai: the five senses (aug. 2023 - jan 2024)shining prince: the tale of genji (dec 2023 - april 2024)kapulani landgraf: 'au'a (jan - sept 2024)forward together: african american prints from the jan and robert steele collection (jan - sept 2024)ke kumu aupuni: the foundation of hawaiian nationhood (feb - aug 2024)miyabi: renaissance of court culture (april - july 2024)a commitment to accessibility has been part of the honolulu museum of art since its founding. The museum's charter described an institution where all people, regardless of background, can feel celebrated and immersed in creativity, and where, moreover, they are invited to partake in the celebration and creativity of others as well. If accessibility is the aim, art education is the key that unlocks that door, and it begins

Financial Efficiency

• Mission deployment rate: 88.3%; rating input score 88
• Program expense ratio: 63.3%; rating input score 63
• Fundraising efficiency: $5.24 raised per $1 spent on fundraising; rating input score 21; 21st 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: 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; 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: -16.1%; rating input score 6; 6th percentile among comparable filings
• Total-asset coverage ratio: 7.5; rating input score 89; 89th percentile among comparable filings
• Liabilities to assets ratio: 0.02; rating input score 90; 90th percentile among comparable filings
• Officer compensation ratio: 9.3%; rating input score 23; 23rd percentile among comparable filings

Growth

• Program expense growth: 0.3% per year; rating input score 100; 12th percentile among comparable filings
• Revenue growth: -0.1% per year; rating input score 0; 8th percentile among comparable filings
• Asset growth: 1.3% per year; rating input score 100; 15th percentile among comparable filings