The Chrysler Museum Incorporated
Nonprofit profile at a glance
- EIN
- 510243196
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Norfolk, VA, USA
- Phone
- 7576646200
- Rating
- 85
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Art Museums
Reported finances
- Revenue
- $16,549,844
- Expenses
- $18,908,535
- Assets
- $140,044,379
- Liabilities
- $1,238,910
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
33 people listed
Executive titles in this filing
- ERIK H NEIL (EXECUTIVE DIRECTOR)
Highest reported compensation
- ERIK H NEIL (EXECUTIVE DIRECTOR): $334,600 total reported compensation
- DANA FUQUA (DEPUTY DIRECTOR FOR OPERATIONS/CFO): $180,210 total reported compensation
- RENEE DUVAL FAIRCHILD (CHIEF DEVELOPMENT OFFICER): $165,451 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The chrysler museum of art welcomes you to connect with art, creativity, and our shared humanity.
What it reported doing in 2024
The chrysler museum of art is an educational institution that is free and open to the public. The museum presents changing exhibitions as well as a broad permanent collection from a wide array of cultures and times. To this end, the museum collects, preserves, displays and interprets original works of art for the enjoyment and education of a diverse constituency. The museum also operates a glass making studio adjacent to its main building. The glass studio offers a full program of public demonstrations and classes as well as a robust set of educational partnerships with regional colleges and universities and a dynamic visiting artist program. Studio programming is designed to complement and enrich the public's understanding and appreciation of the museum's outstanding collection of historical glass.
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.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 88
- Transparency & Controls: 79
- Accountability: 95
- Sustainability: 46
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 86.5%; rating input score 86
- Fundraising efficiency: $7.55 raised per $1 spent on fundraising; rating input score 31; 31st percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- 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: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- 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: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -14.3%; rating input score 7; 7th percentile among comparable filings
- Total-asset coverage ratio: 7.41; rating input score 89; 89th percentile among comparable filings
- Liabilities to assets ratio: 0.01; rating input score 93; 93rd percentile among comparable filings
- Officer compensation ratio: 5.7%; rating input score 45; 45th percentile among comparable filings
Growth
- Program expense growth: 7.6% per year; rating input score 100; 59th percentile among comparable filings
- Revenue growth: 3.6% per year; rating input score 100; 30th percentile among comparable filings
- Asset growth: 5.1% per year; rating input score 100; 36th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 86.5% of spending went to programs
- Governance: 27 of 27 board members independent · 8 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $16.4M in reported program spending
- Leadership: top reported pay $335K · 33 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 4 contractors listed · $5.5M reported
- Consistency: 34 of 34 current checks pass
- Schedules: 6 filed schedules · includes major donors and executive pay
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 6 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.
- Moderate — Financial Efficiency: Fundraising efficiency scored 31/100.
- High — Sustainability: Operating margin scored 7/100.
- Review — Accountability: Governance controls: Other executive compensation review process not reported.
- Moderate — Sustainability: Officer compensation ratio scored 45/100.