Jb Speed Art Museum

Nonprofit profile at a glance

EIN
610444823
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Louisville, KY, USA
Phone
5023685893
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Art Museums

Official website

Reported finances

Revenue
$24,226,156
Expenses
$16,302,164
Assets
$151,759,014
Liabilities
$8,729,755

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

Leadership & pay

40 people listed

Executive titles in this filing

  • RAPHAELA PLATOW (EXECUTIVE DIRECTOR (TO 08/25))

Highest reported compensation

  • RAPHAELA PLATOW (EXECUTIVE DIRECTOR (TO 08/25)): $315,740 total reported compensation
  • STACY GORDON-FUNK (CHIEF OF PHILANTHROPY): $176,001 total reported compensation
  • CATHERINE SURRATT (CHIEF OPERATING OFFICER): $161,644 total reported compensation

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

Overview

Mission

At the speed art museum, we invite everyone to celebrate art forever. Whether you're an art aficionado or don't know a dali from a degas, you can find fresh inspiration and meaning at the speed art musuem. With modern architecture, expanded programming, interactive exhibits, and inviting outdoor spaces, the speed offers countless opportunities for everyone to create their own connections and experience art at their own speed. At the speed we're working to make the museum a safe and welcoming place for everyone in our community. Learn more about the speed's commitment to diversity, equity, accessibility, and inclusion.

What it reported doing in 2024

Curatorial initiatives include rotating exhibitions, care for the permanent collection, and scholarly publications. The curatorial staff stewards a collection of 13,000 objects spanning 6,000 years of human history from ancient to contemporary artworks. Curators produce ambitious exhibitions, bringing artwork from around the world to the louisville community and program events to enhance exhibition content.

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 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 57
  • Accountability: 91
  • Sustainability: 84
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.7%; rating input score 82
  • Program expense ratio: 73.9%; rating input score 74
  • Fundraising efficiency: $9.2 raised per $1 spent on fundraising; rating input score 36; 36th 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: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 32.7%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 9.31; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 81; 81st percentile among comparable filings
  • Officer compensation ratio: 4.9%; rating input score 52; 52nd percentile among comparable filings

Growth

  • Program expense growth: 7.8% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: 9% per year; rating input score 100; 70th percentile among comparable filings
  • Asset growth: 0.1% per year; rating input score 100; 11th percentile among comparable filings

Details

  • Where the money goes: 81.7% of revenue deployed · 73.9% of spending went to programs
  • Governance: 35 of 35 board members independent · 7 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $12M in reported program spending
  • Leadership: top reported pay $316K · 40 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $7.4M reported
  • Consistency: 37 of 37 current checks pass
  • Schedules: 9 filed schedules · includes major donors, foreign activity, and executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • 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 — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 36/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Review — Sustainability: Officer compensation ratio scored 52/100.