National Corvette Museum Foundation Inc

What it reported doing in 2024

Plant tours: helps further the mission of the museum to educate world-wide audiences about the corvette and how it is produced.driven by design, the museum's design and engineering exhibition illustrates how automobile design progresses from sketches to clay models, with a scale clay model corvette on display as an example of the early design process. One exhibit highlights the female interior design team of the late 1950s, nicknamed the "damsels of design." since opening in 2016, the sinkhole experience exhibition has documented the 2014 sinkhole collapse inside the museumwhy it happened, how the buried cars were recovered, how the building was repaired, and what karst and cave landforms are.stingray grill/corvette store: the stingray grill offers lunch options for the convenience of museum guests, and catering options for events at the museum, school group visits and community events. The corvette store offers a wide selection of unique gifts and apparel that tell the corvette story, while corvette accessories allow visitors to customize their corvette. Museum marketing and communication efforts include america's sports car magazine, a quarterly publication mailed to 25,000 households, clubs and businesses that educates readers on events at the national corvette museum and corvette history, including articles on specific exhibits to inform those that cannot physically come to the museum. Museum channels on facebook, x, linkedin, tiktok, instagram, and youtube highlight the history of the corvette while also bringing attention to our mission and educational programs, along with digital advertising aimed at reaching the next generation of guests. Email marketing includes corvette campus connection, a monthly email distributed to more than 120,000 subscribers, which highlights programs at the museum for those unable to visit in person. The museum website provides historical information and detailed stories about the corvette and the personalities who have shaped its 72-year history. Library & archives resource center: the resource center is the repository for all materials documenting the past, present and future of corvette, corvette enthusiasts and the corvette museum. The material managed and preserved includes audio and visual media - both digital (dvds) and magnetic (vhs and beta tapes), periodicals, books, drawings, paintings, posters, memorabilia and documents including some important historical memorabilia plus build sheets. Most materials have been donated to the national corvette museum from individual enthusiasts, publishing companies, print media, aftermarket suppliers, clubs and organizations such as ncrs, and from gm/chevrolet.other national corvette museum program services include educational instruction, such as multiple steam workshops for students, field trips, community school outreach and relationship building. Educational programming also extends virtually through corvettemuseum.org, featuring high-profile storytelling with national corvette museum members, inclusion in the museum's quarterly magazine, america's sports car, and participation in car shows across the country.the gateway gallery tells the story of the corvette's creation, exploring the influence of european sports cars imported by wwii veterans, small american manufacturers building low-production sports cars, and the development of the corvette name. The exhibition highlights harley earl's role at general motors in bringing these elements together to create the corvette, america's sports car.

Financial Efficiency

• Mission deployment rate: 73.3%; rating input score 73
• Program expense ratio: 61.2%; rating input score 61
• Fundraising efficiency: $8.96 raised per $1 spent on fundraising; rating input score 35; 35th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • 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: Yes; rating input score 100

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: 12.8%; rating input score 73; 73rd percentile among comparable filings
• Total-asset coverage ratio: 4.91; rating input score 84; 84th percentile among comparable filings
• Liabilities to assets ratio: 0.05; rating input score 83; 83rd percentile among comparable filings
• Officer compensation ratio: 8.7%; rating input score 26; 26th percentile among comparable filings

Growth

• Program expense growth: 7.5% per year; rating input score 100; 58th percentile among comparable filings
• Revenue growth: 6.4% per year; rating input score 100; 55th percentile among comparable filings
• Asset growth: 7.6% per year; rating input score 100; 52nd percentile among comparable filings