Wichita Art Museum Inc

Nonprofit profile at a glance

EIN
481157680
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Wichita, KS, USA
Phone
3162684921
Rating
71
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Arts, Cultural Organizations - Multipurpose

Official website

Reported finances

Revenue
$7,649,976
Expenses
$7,021,758
Assets
$23,360,202
Liabilities
$13,770

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

Leadership & pay

32 people listed

Executive titles in this filing

  • Matt Cortez (President)
  • Molly McFerson (Chief Executive Officer)

Highest reported compensation

  • Molly McFerson (Chief Executive Officer): $107,266 total reported compensation

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

Overview

Mission

To provide a safe and acclimatized environment for the storage, conservation and respectful display of the permanent collection of the museum as well as borrowed or loaned works of art.

What it reported doing in 2024

The Wichita Art Museum, Inc operates and manages numerous activities, exhibitions and programs for the City of Wichita.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 51% for direct work, and 49% for grants.
  • 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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 66
  • Accountability: 81
  • Sustainability: 70
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72%; rating input score 72
  • Program expense ratio: 72.6%; rating input score 73
  • Fundraising efficiency: $6.08 raised per $1 spent on fundraising; rating input score 22; 22nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 83.3%; rating input score 83; 1st percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 92.5%; rating input score 93; 28th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 93.5%; rating input score 94; 24th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 8.2%; rating input score 59; 59th percentile among comparable filings
  • Total-asset coverage ratio: 3.33; rating input score 76; 76th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 93; 93rd percentile among comparable filings
  • Officer compensation ratio: 1.5%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: 20.8% per year; rating input score 100; 86th percentile among comparable filings
  • Revenue growth: 20.2% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 23.7% per year; rating input score 100; 88th percentile among comparable filings

Details

  • Where the money goes: 72% of revenue deployed · 72.6% of spending went to programs
  • Governance: 29 of 31 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $5.1M in reported program spending
  • Leadership: top reported pay $107K · 32 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 21 of 23 current checks pass · 2 findings to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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: Pay-setting controls scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 22/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Review — Sustainability: Operating margin scored 59/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.