Muskegon Museum of Art Foundation

What it reported doing in 2024

Below is a summary of the program services administered by mmaf. Collections: the muskegon museum of art through its governing boards, staff, and volunteers, is committed to collecting, preserving, and interpreting its art collections for the benefit of current and future generations. This program service includes curatorial research and oversight, collections management, and acquisition and deacquisition activities, new acquisitions are acquired that enhance both the current make-up of the collection and that advance our mission as established in the vision and mission statements of the institution. Exhibitions: the museum is dedicated to the continual and roating display of the permanent collection and the installation of temporary exhibitions, fearturing both the permanent collections and works from other sources. Exhibitions are developed to celebrate and expand the understanding of the museum's permanent collection by reinforcing its value, building supporting scholarship, and demonstrating its links between the past and present. Education: the educational programs developed by the muskegon museum of art are a critical tool for addressing our mission goals of providing educational opportunities and engagement, building an environmnet for creative expression and stimulation, and contributing to community enrichment. Education programs also facilitate and encourage a strong museum connection with the region, builds membership, increases community involvemnet, and provides accessibility to a wide range of groups, ages, and cultures. It is through programming that the museum is able to connect directly with its audiences, enhancing and building upon the visual experience provided in the galleries. Facilities: the muskegon museum of art is committed to its role as steward and caretaker of the historic 1912 building in which it is located. Program services related to facilities includes custodial and maintenance functions and expenses as well as all security costs associated with protecting both the art and the facility in a safe and protective manner. Gift shop: the muskegon museum of art operates a gift shop that carries artist consignment goods and products and books related to the permanent collection and temporary exhibitions.

Financial Efficiency

• Mission deployment rate: 57.5%; rating input score 58
• Program expense ratio: 79%; rating input score 79
• Fundraising efficiency: $12.63 raised per $1 spent on fundraising; rating input score 45; 45th 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: 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: NotApplicable
  • 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: 30.7%; rating input score 85; 85th percentile among comparable filings
• Total-asset coverage ratio: 8.77; rating input score 90; 90th percentile among comparable filings
• Liabilities to assets ratio: 0.13; rating input score 53; 53rd percentile among comparable filings
• Officer compensation ratio: 4.9%; rating input score 54; 54th percentile among comparable filings

Growth

• Program expense growth: 8.9% per year; rating input score 100; 60th percentile among comparable filings
• Revenue growth: 15.2% per year; rating input score 100; 82nd percentile among comparable filings
• Asset growth: 20.3% per year; rating input score 100; 84th percentile among comparable filings