Owensboro Museum of Fine Art Inc

Nonprofit profile at a glance

EIN
310896672
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Owensboro, KY, USA
Phone
2706853181
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Art Museums

Official website

Reported finances

Revenue
$607,434
Expenses
$616,195
Assets
$8,702,098
Liabilities
$196,501

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

Leadership & pay

15 people listed

Executive titles in this filing

  • MARY BRYAN HOOD (PRESIDENT/DIRECTOR (THRU 11/2024))
  • JASON HAYDEN (EXECUTIVE DIRECTOR (SINCE 11/2024))

Highest reported compensation

  • JASON HAYDEN (EXECUTIVE DIRECTOR (SINCE 11/2024)): $99,937 total reported compensation
  • MARY BRYAN HOOD (PRESIDENT/DIRECTOR (THRU 11/2024)): $93,457 total reported compensation

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

Overview

Mission

Operate and maintain an art museum located in owensboro, Kentucky and to actively assist and support the visual arts in owensboro and the surrounding areas.

What it reported doing in 2024

Owensboro museum of fine art expands and enhances the cultural environment of the region through a permanent collection of american, european and asian fine and decorative arts dating from the 15th century to the present. Programs include major traveling exhibitions; visual and performing arts; interpretive events and educational programs for children and adults occur throughout the year.

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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 92
  • Accountability: 77
  • Sustainability: 51
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73.4%; rating input score 73
  • Program expense ratio: 72.4%; rating input score 72
  • Fundraising efficiency: $12.85 raised per $1 spent on fundraising; rating input score 46; 46th 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: 86.7%; rating input score 87; 21st percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1.4%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 14.12; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 61; 61st percentile among comparable filings
  • Officer compensation ratio: 25.2%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 6.9% per year; rating input score 100; 51st percentile among comparable filings
  • Revenue growth: 7.8% per year; rating input score 100; 58th percentile among comparable filings
  • Asset growth: 12.9% per year; rating input score 100; 67th percentile among comparable filings

Details

  • Where the money goes: 73.4% of revenue deployed · 72.4% of spending went to programs
  • Governance: 13 of 15 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $446K in reported program spending
  • Leadership: top reported pay $100K · 15 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 46/100.
  • Moderate — Sustainability: Operating margin scored 31/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.