Nebraska Art Association

Nonprofit profile at a glance

EIN
476026671
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Lincoln, NE, USA
Phone
4024722461
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$867,394
Expenses
$421,033
Assets
$5,756,252
Liabilities
$30,368

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

Leadership & pay

16 people listed

Executive titles in this filing

  • GEOFFREY CLINE (PRESIDENT)

People named in this filing

  • TAMARA BARBER (TRUSTEE)
  • JASON BOMBECK (TREASURER)
  • KARA BROSTROM (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

Through stewardship of our collection and financial resources, the sheldon art association supports the sheldon museum of arts mission to inspire inquiry and discovery, serving the university of Nebraska, the state, and beyond.

What it reported doing in 2024

Collections. Sheldons collection comprises works of international distinction in diverse media. The collection includes prominent works of nineteenth-century landscape and still life, american impressionism, early modernism, geometric abstraction, abstract expressionism, minimalism, and photography. More than 30 large-scale sculptures are exhibited across the university campus. Care for the collection includes museum storage and conservation activities. The museum acquires works of art that support its mission. Digitization of sheldons collection is expanding online access and extending the museum walls to engage viewers in any geographic location and opens doors to study the collection.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 25
  • Transparency & Controls: 92
  • Accountability: 82
  • Sustainability: 90
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 22.7%; rating input score 23
  • Program expense ratio: 22.1%; rating input score 22
  • Fundraising efficiency: $11.44 raised per $1 spent on fundraising; rating input score 42; 42nd 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: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 51.5%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 13.67; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 73; 73rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -11.7% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: 4.6% per year; rating input score 100; 41st percentile among comparable filings
  • Asset growth: 11.5% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 22.7% of revenue deployed · 22.1% of spending went to programs
  • Governance: 16 of 16 board members independent · 4 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $93K in reported program spending
  • Leadership: top reported pay $0 · 16 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 23/100.
  • High — Financial Efficiency: Program expense ratio scored 22/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 42/100.
  • High — Growth: Program expense growth scored 0/100.