Civic Intelligence

The Richard H Driehaus Museum

EIN 36-4339951 • 501(c)3 • Chicago, IL

Profile

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.

50 East Erie StreetChicago, IL 60611

www.driehausmuseum.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

35th percentile

0.15x

Higher debt load relative to assets than 35% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

88th percentile

3.06x

Higher debt load relative to revenue than 88% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Net Margin

6th percentile

-33%

Higher net margin than 6% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

60th percentile

$184,740

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 4.3% of source-year revenue.

$100M-$250M nonprofits • Source year 2022

Asset Growth

46th percentile

5.0%

Faster asset growth than 46% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2022 to 2024

Revenue Growth

73rd percentile

18%

Faster revenue growth than 73% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2022 to 2024

Assets

Up

$123,413,021

Up $5,023,600 (+4.2%) from 2023

Liabilities

Up

$18,021,531

Up $877,437 (+5.1%) from 2023

Net Assets

Up

$105,391,490

Up $4,146,163 (+4.1%) from 2023

Revenue

Up

$5,880,010

Up $890,275 (+18%) from 2023

Expenses

Up

$7,800,144

Up $1,601,789 (+26%) from 2023

Net Income

Down

-$1,920,134

Down $711,514 (-59%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$150M$100M$50M$0Assets 2016: $38,344,736Liabilities 2016: $16,261,115Net Assets 2016: $22,083,6212016Assets 2020: $49,922,124Liabilities 2020: $16,148,815Net Assets 2020: $33,773,3092020Assets 2021: $116,468,245Liabilities 2021: $16,255,582Net Assets 2021: $100,212,6632021Assets 2022: $111,963,635Liabilities 2022: $16,325,002Net Assets 2022: $95,638,6332022Assets 2023: $118,389,421Liabilities 2023: $17,144,094Net Assets 2023: $101,245,3272023Assets 2024: $123,413,021Liabilities 2024: $18,021,531Net Assets 2024: $105,391,4902024

Highlighted filing

2024

Assets$123,413,021
Liabilities$18,021,531
Net Assets$105,391,490

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$80M$60M$40M$20M$0-$20MRevenue 2016: $5,587,725Expenses 2016: $5,720,765Net Income 2016: -$133,0402016Revenue 2020: $2,202,980Expenses 2020: $3,525,009Net Income 2020: -$1,322,0292020Revenue 2021: $74,810,944Expenses 2021: $3,128,790Net Income 2021: $71,682,1542021Revenue 2022: $4,257,153Expenses 2022: $4,292,094Net Income 2022: -$34,9412022Revenue 2023: $4,989,735Expenses 2023: $6,198,355Net Income 2023: -$1,208,6202023Revenue 2024: $5,880,010Expenses 2024: $7,800,144Net Income 2024: -$1,920,1342024

Highlighted filing

2024

Revenue$5,880,010
Expenses$7,800,144
Net Income-$1,920,134

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 15, 2025
Return Version
2024v5.2
Gross Receipts
$23,168,286
Mission and Program 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.

To engage and inspire the global community through exploration and ongoing conversations in art, architecture, and design of the late 19th & early 20th centuries

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$76,072,299$74,275,638▼ $1,796,661
Land, Buildings, and Equipment, Net$38,247,077$43,493,225▲ $5,246,148
Investments Other Securities$2,966,758$4,469,036▲ $1,502,278
Prepaid Expenses and Deferred Charges$363,922$509,745▲ $145,823
Cash and Non-Interest-Bearing Accounts$500,723$400,021▼ $100,702
Inventories for Sale or Use$220,880$253,758▲ $32,878
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$118,389,421$123,413,021▲ $5,023,600
Other Assets Total$17,762$11,598▼ $6,164
Liabilities
Tax Exempt Bond Liabilities$15,783,707$15,794,199▲ $10,492
Other Liabilities$0$1,439,162▲ $1,439,162
Accounts Payable and Accrued Expenses$1,330,502$752,292▼ $578,210
Deferred Revenue$29,885$35,878▲ $5,993
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$17,144,094$18,021,531▲ $877,437
Net Assets / Fund Balance
Net Assets With Donor Restrictions$71,381,538$77,287,633▲ $5,906,095
Net Assets Without Donor Restrictions$29,863,789$28,103,857▼ $1,759,932
Total Net Assets Fund Balance$101,245,327$105,391,490▲ $4,146,163
Total Liabilities and Net Assets / Fund Balance$118,389,421$123,413,021▲ $5,023,600

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$28,000,687$10,496,780$38,497,467
Other Land Buildings$14,001,781-$14,001,781
Equipment$490,757$844,417$1,335,174
Land$1,000,000-$1,000,000

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$71,381,538-▲ $8,760,910$2,854,815$77,287,633
2023$64,133,024-▲ $8,389,647$1,141,133$71,381,538
2022$65,000,000-▼ $866,976-$64,133,024
2021$65,000,000---$65,000,000
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lisa KeyExecutive DirectorFT$275,300$9,495$284,795
Nina YungDirector of Development & StrategyFT$173,000$6,426$179,426
Sally-Ann FelgenhauerDirector of Collections & ExhibitsFT$109,414$25,519$134,933
Julie TreumannDirector of MarketingFT$112,832$14,055$126,887

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Bulley Andrews LLCConstruction1755 W Armitage Ave, Chicago, IL 60622$6,119,657
Allied Universal Security ServicesSecurity Services303 E Wacker Dr Suite 1500, Chicago, IL 60601$521,505
Driehaus Enterprise Management INCInvestment Advisory25 EAST ERIE STREET, Chicago, IL 60611$402,291
Continua Interiors of Illinois LLCFurniture Solutions318 N Carpenter St 6th Floor, Chicago, IL 60607$250,920
Antunovich AssociatesArchitecture Design224 W HURON ST, Chicago, IL 60654$249,941
Revenue and Support

Revenue Composition

Contributions and Grants
$1,867,424
Program Service Revenue
$607,233
Investment Income
$2,934,454
Other Revenue
$470,899
All Other Contributions
$1,222,685
Change in Net Assets
$-1,920,134

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeReported AmountValuation Method
Works of Art$85,000appraisal
Total Noncash Contributions$85,000-

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,991,226
Revenue Not Reported on Financial Statements
$-111,216
Revenue Not Reported on Form 990
$6,066,297
Other Revenue Adjustments
$-111,216
Total Revenue per Audited Statements
$12,057,523
Total Revenue per Form 990
$5,880,010
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,733,526
Salaries, Compensation, and Employee Benefits$1,887,486
Total Fundraising Expense$333,731
Professional Fundraising Fees$173,361
Grants and Similar Amounts Paid$5,771

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$1,076,289$163,074$65,230$1,304,593
Occupancy$1,028,572$183,489-$1,212,061
Depreciation Depletion-$870,742-$870,742
Interest-$551,118-$551,118
All Other Expenses$43,479$384,974$891$429,344
Fees for Service Investment Mgmnt Fees$341,947$40,229$20,115$402,291
Other Salaries and Wages$227,123$34,413$13,765$275,301
Advertising$214,588$25,246$12,623$252,457
Insurance-$181,137-$181,137
Fees for Services Professional Fundraising--$173,361$173,361
Office Expenses$32,119$117,843$1,145$151,107
Payroll Taxes$117,617$17,821$7,128$142,566
Other Employee Benefits$114,616$17,366$6,946$138,928
Fees for Services Other$108,648$12,782$6,391$127,821
Other Expenses$349,012$101,342$20,530$101,342
Information Technology-$89,329-$89,329
Fees for Services Accounting$52,275$6,150$3,075$61,500
Travel$36,581--$36,581
Pension Plan Contributions$21,531$3,262$1,305$26,098
Fees for Services Legal$20,849$2,453$1,226$24,528
Grants to Domestic Orgs$5,771--$5,771
Conferences and Meetings-$1,649-$1,649
Total Functional Expenses$4,450,333$3,016,080$333,731$7,800,144

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$7,911,360
Expenses per Audited Statements$7,800,144
Total Expenses per Form 990$7,800,144
Expenses Not Reported on Form 990$111,216
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$173,361
Fundraising Gross Income$40,000
Fundraising Direct Expenses$0
Gaming Direct Expenses$0
Gaming Gross Income$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$340,000$40,000-$40,000
Total Events$340,000$40,000-$40,000
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Driehaus Enterprise Management IncInterested person and organization are under common controlinvestment managementNo$402,291

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Rent$1,439,162

Bond Issues

BondIssuerIssuedIssue PricePurpose
AIllinois Finance Authority2005-02-01$15,900,000Renovation -nickerson mansion, int

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$15,900,000$0$0$308,758
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI, SECTION B, LINE 11B

Review of form 990 was delegated to the employees of the organization. After review a draft copy of form 990 was provided to all voting board members to review.

Part VI, Section A, Line 6 and 7A

Driehaus trust company is the sole member of the corporation and has the power to elect or appoint members of the governing body.

Part VI, Section B, Lines 15A and 15B

Members of the board of directors, in consultation with Driehaus Trust Company and Driehaus Enterprise Management, determine compensation for key organization employees.

Filing and Contact Details

Filer

Filer Name
The Richard H Driehaus Museum
EIN
36-4339951
In Care Of
% BRENT OUTINEN
Phone
3123005612
Address
50 East Erie Street, Chicago, IL 60611

Signing Officer

Name
Lisa Key
Title
Executive Director
Phone
3129328675
Signed
2025-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lisa Key
Formed
1999
Legal Domicile
Il
Voting Board Members
1
Independent Board Members
1
Employees
37

Preparer

Firm
Miller Cooper & Co Ltd
Address
3 Parkway North Blvd Suite 200, Deerfield, IL 60015
Preparer
Kathy Kirchschlager
Phone
8472055000
Supplemental Narrative

Financial Statement Notes

Sch D, Part III, Line 4

The Driehaus Museum is dedicated to exploring art, architecture, and design in ways that inspire personal connection and shared discovery. Rooted in the historic Nickerson Mansion and the Murphy Auditorium, the Museum honors the legacy of its founder, Richard H. Driehaus, while expanding the understanding of beauty, craftsmanship, and cultural expression. It seeks to be a place where history and contemporary life meet, and where visitors feel welcomed, inspired, and supported in looking closely and thinking deeply. In 2024, the Museum advanced this work through a dynamic exhibition program that included Sif Itona Westerberg: Twin Flame, Double Ruin, the artist's first U.S. solo museum exhibition; Chicago Collects: Jewelry in Perspective, which brought rare and private collections into public view; and Photographing Frank Lloyd Wright, which explored architectural legacy through the lens of twentieth-century photographers. Across these and all exhibitions, the Museum foregrounds artists, designers, and makers whose work invites reflection on material culture, identity, and social change, using the character of its landmark buildings to create immersive experiences shaped by collaboration, scholarship, curiosity, and community.

Sch D, Part X, Line 2

Text of footnote to organization's audited financial statements regarding the organization's liability for uncertain tax positions under fasb asc 740 us gaap requires management to evaluate tax positions taken by the museum and recognize a tax liability if the museum has taken an uncertain position that more likely than not would not be sustained upon examination by the irs or other applicable taxing authorities. Management has analyzed the tax positions taken by the museum and has concluded that as of december 31, 2024 and 2023, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements. The museum is subject to routine audits by taxing jurisdiction; however, there are currently no audits for any tax periods in progress.

Sch D, Part XI, Line 4B

Cost of Goods Sold expense not deducted from revenue reported in Financial Statements

Sch D, Part XII, Line 2D

COST OF GOODS SOLD INCLUDED IN EXPENSES In financial statements

Raw XML AppendixShowing 400 of 803 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm2Sally-Ann Felgenhauer
IRS990/Form990PartVIISectionAGrp/PersonNm3Julie Treumann
IRS990/Form990PartVIISectionAGrp/PersonNm4Greg Cameron
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IRS990/Form990PartVIISectionAGrp/PersonNm6Meredith Mendes
IRS990/Form990PartVIISectionAGrp/PersonNm7Laura Mandel
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Executive Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt2Dir of Collections & Exhibits
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director of Marketing
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IRS990/MissionDesc0THE 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.
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IRS990/OtherExpensesGrp/Desc0COLLECTIONS & EXHIBITIONS
IRS990/OtherExpensesGrp/Desc1PHOTOGRAPHY & VIDEO
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