Mint Museum of Art Inc

What it reported doing in 2024

For the majority of fy25, the mint museum continued its core activities, including expanding its permanent collections through important acquisitions; launching new exhibitions comprising works from the permanent collections and on loan; engaging visitors of all ages and backgrounds through education and outreach initiatives; and implementing new communication strategies, technologies, and methods to reach and engage new audiences. The museum presented an exciting roster of major mint organized and special loan exhibitions in fy25: whitfield lovell: passages was the most comprehensive exhibition of the artist's work to date. Whitfield lovell is renowned for his masterful conte crayon portraits and multi-sensory installations that focus on aspects of african american history, while raising universal questions about identity, memory, and america's collective heritage. Organized by the american federation of arts, it brought together, for the first time, two of lovell's major installations, deep river and visitation: the richmond project. Photographs of african americans taken between the emancipation proclamation and the civil rights movement inspired his exquisite drawings created on paper or, as part of his tableaux, rendered on salvaged wooden boards.southern/modern organized by the mint museum was the first exhibition to provide a comprehensive survey of progressive art created in the american south during the first half of the twentieth century. The exhibition took a broad view of the south, considering artists working in the states below the mason-dixon line and as far west as those bordering the Mississippi river. It also examined the significant role played by women artists and artists of color into the various thematic sections of the exhibition rather than examining them in isolation, providing a fuller, richer, and more accurate overview of the artistic activity in the region than has been previously presented. The mint once again partnered with its affiliate group, the young affiliates of the mint, to present coined in the south. This juried show continues to bridge the gap between the museum, the gallery, and the studio by highlighting thought-provoking works produced by contemporary southeastern artists and innovators.finally, annie leibovitz / work introduced an exciting and diverse body of new work in this major traveling exhibition organized by the crystal bridges museum of american art. In 1973, at the age of 23, leibovitz was named rolling stone magazine's chief photographer. In 2000 she was designated a library of congress living legend. For these new images, leibovitz turned her lens toward more than 50 leaders in the arts, sports, politics, and business spheres to shine a light on luminaries such as beyonce and jay z, elon musk, ketanji brown jackson, yayoi kusama, and others. Presented via large format digital displays, these works were accompanied by perspectives from the sitters. Additionally, the mint continues to present its constellationclt series. This initiative has positioned the museum as a key player in, and supporter of, the rapidly expanding charlotte artist community.the mint continued to successfully host community engagement programs, to build on the deep relationships made with both partners and participants, such as mint to move, wild wednesdays, bilingual stories and music, wednesday night live, and drop in art at mint museum randolph. Additionally, we continued to distribute free art kits - fun and easy activities, complete with supplies, to create art at home. The monthly free art kit corresponds to an exhibition on view or a piece from the mint's permanent collection. Typically, about five hundred kits are handed out to the public each month. Finally, the last sunday of each month is party in the park at mint museum randolph. Fy25 exhibitions also allowed the mint to recognize the following: demonstrate diversity of voices in exhibitions; engage local and regional artists as co-support

Financial Efficiency

• Mission deployment rate: 87.3%; rating input score 87
• Program expense ratio: 80.6%; rating input score 81
• Fundraising efficiency: $8.5 raised per $1 spent on fundraising; rating input score 34; 34th 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: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Pass
  • 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: 8 of 9 controls in place; rating input score 89
  • 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: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -5.6%; rating input score 16; 16th percentile among comparable filings
• Total-asset coverage ratio: 6.64; rating input score 88; 88th percentile among comparable filings
• Liabilities to assets ratio: 0.02; rating input score 89; 89th percentile among comparable filings
• Officer compensation ratio: 8.3%; rating input score 28; 28th percentile among comparable filings

Growth

• Program expense growth: 5.5% per year; rating input score 100; 45th percentile among comparable filings
• Revenue growth: -8.7% per year; rating input score 0; 1st percentile among comparable filings
• Asset growth: -0.1% per year; rating input score 0; 10th percentile among comparable filings