Midwest Museum of American Art Foundation Inc

Nonprofit profile at a glance

EIN
310937828
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Elkhart, IN, USA
Phone
5742936660
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Art Museums

Reported finances

Revenue
$1,059,142
Expenses
$296,032
Assets
$12,281,786
Liabilities
$110

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

Leadership & pay

5 people listed

People named in this filing

  • DR DANIEL BURNS (TRUSTEE)
  • TIMOTHY BURNS (TRUSTEE)
  • DR RICHARD D BURNS JR (TRUSTEE)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Our mission is to collect, preserve and present american art and to inspire a love for the arts through education, diversity, history and culture.

What it reported doing in 2024

Youth art: an exhibition in collaboration with the elkhart community high schools to exhibit choice samples of works of art of juniors and seniors that encourages improvement in skills.

Operating model

Revenue model
Donor-supported. 89% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 52
  • Transparency & Controls: 92
  • Accountability: 82
  • Sustainability: 94
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 25.5%; rating input score 25
  • Program expense ratio: 86.9%; rating input score 87
  • Fundraising efficiency: $60.3 raised per $1 spent on fundraising; rating input score 81; 81st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 72%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 41.49; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 83; 83rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 4.5% per year; rating input score 100; 40th percentile among comparable filings
  • Revenue growth: 7.9% per year; rating input score 100; 58th percentile among comparable filings
  • Asset growth: 4.4% per year; rating input score 100; 36th percentile among comparable filings

Details

  • Where the money goes: 25.5% of revenue deployed · 86.9% of spending went to programs
  • Governance: 5 of 5 board members independent · 4 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $257K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Financial Efficiency: Mission deployment rate scored 25/100.
  • Review — Accountability: Governance controls: 2 of 6 not reported.