Midwest Art Conservation Center Inc

Nonprofit profile at a glance

EIN
411312834
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Minneapolis, MN, USA
Phone
6128703120
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Historical Societies & Historic Preservation

Official website

Reported finances

Revenue
$2,182,347
Expenses
$2,159,787
Assets
$3,465,416
Liabilities
$745,464

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

Leadership & pay

19 people listed

Executive titles in this filing

  • COLIN TURNER (EXECUTIVE DIRECTOR)

Highest reported compensation

  • COLIN TURNER (EXECUTIVE DIRECTOR): $152,473 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 organization's mission is for the preservation and conservation of art and artifacts; providing treatment, education, and training for museums, historical societies, libraries, other cultural institutions, artists, and the public throughout the midwest region and beyond.

What it reported doing in 2024

Conservation: treatments - encompasses all direct conservation and restoration treatments applied to works of art, artifacts, and historical items. Treatments prevent deterioration, ensure original integrity and enhance exhibition and access to works of art, historical artifacts and documents. Several hundred works of art are conserved through treatment each year.(continued on schedule o)consultation - consists of ongoing dialogues and provisions of written and photographic information to curators, librarians, archivists, collection managers and the general public regarding treatments, discoveries and practices associated with particular items. Conservator's examinations with diagnostics in conjunction with curatorial expertise lead to discoveries in dating, authenticity, structural and aesthetic techniques, shipping, handling and display techniques. Hundreds of institutions rely on macc's consultations each year.

Operating model

Revenue model
Earned-program. 81% of the money available for current operations came from fees and other program revenue.
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: 79
  • Accountability: 100
  • Sustainability: 44
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.7%; rating input score 91
  • Program expense ratio: 88%; rating input score 88
  • Fundraising efficiency: $18.86 raised per $1 spent on fundraising; rating input score 57; 57th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • 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; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 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: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 1.6; rating input score 54; 54th percentile among comparable filings
  • Liabilities to assets ratio: 0.22; rating input score 42; 42nd percentile among comparable filings
  • Officer compensation ratio: 7.1%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: 8.5% per year; rating input score 100; 58th percentile among comparable filings
  • Revenue growth: 6.4% per year; rating input score 100; 50th percentile among comparable filings
  • Asset growth: 12.8% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 90.7% of revenue deployed · 88% of spending went to programs
  • Governance: 14 of 14 board members independent · 8 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $1.9M in reported program spending
  • Leadership: top reported pay $152K · 19 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 14 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.

  • Review — Financial Efficiency: Fundraising efficiency scored 57/100.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • Review — Sustainability: Total-asset coverage ratio scored 54/100.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 42/100.