The Parrish Art Museum Inc

Nonprofit profile at a glance

EIN
111782495
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Water Mill, NY, USA
Phone
6312832118
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Art Museums

Official website

Reported finances

Revenue
$14,728,028
Expenses
$7,300,783
Assets
$46,419,677
Liabilities
$2,405,567

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

Leadership & pay

36 people listed

Executive titles in this filing

  • Monica Ramirez-Montagut (Executive Director)
  • Sean Cohan (President)
  • Sandy Perlbinder (Vice President)

Highest reported compensation

  • Monica Ramirez-Montagut (Executive Director): $347,365 total reported compensation
  • Paul Andrews (Dep Dir Princ Gfts): $197,358 total reported compensation
  • Alexandra Robertson (Dir. Finance & Adm): $154,501 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 museum encourages an appreciation of modern and contemporary art through exhibitions, education, and public programs for diverse audiences.inspired by the natural setting and historical artistic community of long island's east end, the parrish art museum celebrates its legacy through a distinctive contemporary lens and socially conscious global context. The parrish illuminates the creative process and how art, architecture, and design transform our experiences and our communities, and how we relate to the world. Access to relevant cultural engagement, artistic inspiration, a natural environment, and architectural ingenuity characterizes the museum experience as unique destination fo the region, the nation, and the world.

What it reported doing in 2024

The parrish art museum, inc., is located in water mill, New York and accredited by the american alliance of museums. The museum was founded in 1897 by samuel longstreth parrish and was chartered by the university of the state of New York education department in 1954. The museum opened its new building designed by swiss architects herzog and de meuron to international acclaim in november 2012 allowing it to exhibit its permanent art collection side-by-side with changing exhibitions throughout 12,000 square feet of gallery space. The parrish presents multiple temporary exhibitions each year, including new installations drawn from our world-class collection of 3,695 works, special exhibitions that reconsider the work of a single artist, and group exhibitions that explore compelling themes. The parrish produces over 40 public programsfilm, music, and talksand offers a year-round schedule of inspiring classes and workshops.

Operating model

Revenue model
Donor-supported. 86% 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 - 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: 52
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 80
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 39.8%; rating input score 40
  • Program expense ratio: 76.3%; rating input score 76
  • Fundraising efficiency: $12.1 raised per $1 spent on fundraising; rating input score 43; 43rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • 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 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: 50.4%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 6.36; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 83; 83rd percentile among comparable filings
  • Officer compensation ratio: 18.4%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: 2.6% per year; rating input score 100; 23rd percentile among comparable filings
  • Revenue growth: 3% per year; rating input score 100; 26th percentile among comparable filings
  • Asset growth: 0.5% per year; rating input score 100; 12th percentile among comparable filings

Details

  • Where the money goes: 39.8% of revenue deployed · 76.3% of spending went to programs
  • Governance: 28 of 28 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $5.6M in reported program spending
  • Leadership: top reported pay $347K · 36 people listed · 6 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $592K reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 11 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 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.
  • 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 40/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 43/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.