The Richard H Driehaus Museum

Nonprofit profile at a glance

EIN
364339951
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-PF 2022, Form 990-T 2020
Location
Chicago, IL, USA
Phone
3123005612
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Museum, Museum Activities

Official website

Reported finances

Revenue
$5,880,010
Expenses
$7,800,144
Assets
$123,413,021
Liabilities
$18,021,531

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

Leadership & pay

12 people listed

Executive titles in this filing

  • Lisa Key (Executive Director)

Highest reported compensation

  • Lisa Key (Executive Director): $284,795 total reported compensation
  • Nina Yung (Dir of Development & Strategy): $179,426 total reported compensation
  • Sally-Ann Felgenhauer (Dir of Collections & Exhibits): $134,933 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 driehaus museum engages and inspires the global community through exploration and ongoing conversations in art, architecture, and design of the late nineteenth and early twentieth centuries. Its permanent collection and temporary exhibitions are presented in an immersive experience within the restored nickerson mansion, completed in 1883, at the height of the gilded age, and the 1926 murphy auditorium. The museum's collection reflects and is inspired by the collecting interests, vision, and focus of its founder, the late richard h. Driehaus.

What it reported doing in 2024

The Driehaus Museum shares its collection widely with the general public through exhibitions, loans and public programs. In 2024, the Museum presented exhibitions such as "Chicago Collects: Jewelry in Perspective". Also in 2024, the Museum hosted approximately 100 special public events such as lectures, exhibition opening events, a gala, film screenings, performances and public tours. The Museum continues to put its mission into service through its daily activities which are available to all visitors.

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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of total spending goes to programs and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 70
  • Accountability: 100
  • Sustainability: 39
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.5%; rating input score 93
  • Program expense ratio: 57.1%; rating input score 57
  • Fundraising efficiency: $5.6 raised per $1 spent on fundraising; rating input score 20; 20th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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; 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: -32.7%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 15.82; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.15; rating input score 51; 51st percentile among comparable filings
  • Officer compensation ratio: 9.3%; rating input score 32; 32nd percentile among comparable filings

Growth

  • Program expense growth: 27.7% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: 16.4% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: 93.5% of revenue deployed · 57.1% of spending went to programs
  • Governance: 1 of 1 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $4.5M in reported program spending
  • Leadership: top reported pay $285K · 12 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $7.5M reported
  • Consistency: 40 of 40 current checks pass
  • Schedules: 10 filed schedules · includes major donors and executive pay
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 13 filed money-flow records
  • Related organizations: 4 filed related-organization links
  • 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 — Financial Efficiency: Program expense ratio scored 57/100.
  • High — Financial Efficiency: Fundraising efficiency scored 20/100.
  • High — Sustainability: Operating margin scored 4/100.
  • Moderate — Sustainability: Officer compensation ratio scored 32/100.
  • Review — Sustainability: Liabilities to assets ratio scored 51/100.