Provincetown Art Association and Museum Inc

Nonprofit profile at a glance

EIN
042210747
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Provincetown, MA, USA
Phone
5084871750
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Art Museums

Official website

Reported finances

Revenue
$4,651,470
Expenses
$2,152,356
Assets
$18,709,281
Liabilities
$928,477

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

Leadership & pay

24 people listed

Executive titles in this filing

  • LISE MOTHERWELL (PRESIDENT)
  • KEVIN O'SHEA (VICE PRESIDENT)
  • CHRISTINE MCCARTHY (CEO)

Highest reported compensation

  • CHRISTINE MCCARTHY (CEO): $222,001 total reported compensation

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

Overview

Mission

Maintain & exhibit permanent art collection, school, gallery and special exhibits involving visual arts

What it reported doing in 2024

Museum gallery - exhibitions, displays, shows and general museum activity revolving around the museum art collection.

Operating model

Revenue model
Donor-supported. 77% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 99% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 44
  • Transparency & Controls: 81
  • Accountability: 100
  • Sustainability: 82
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 33.1%; rating input score 33
  • Program expense ratio: 63.5%; rating input score 63
  • Fundraising efficiency: $12.81 raised per $1 spent on fundraising; rating input score 46; 46th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.4%; rating input score 94; 24th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • 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: Pass
    • 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: 53.7%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 8.69; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 70; 70th percentile among comparable filings
  • Officer compensation ratio: 10.3%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: 4.6% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: 17.5% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: 8% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: 33.1% of revenue deployed · 63.5% of spending went to programs
  • Governance: 23 of 23 board members independent · 8 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $1.4M in reported program spending
  • Leadership: top reported pay $222K · 24 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 33 of 34 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 33/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 46/100.
  • High — Sustainability: Officer compensation ratio scored 29/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.