Civic Intelligence

Louise Wells Cameron Art Museum

EIN 56-0812213 • 501(c)3 • Wilmington, NC

Profile

Art education including lecture series, demonstration workshops, exhibitions, concerts and school programs.

3201 South 17th StreetWilmington, NC 28412

www.cameronartmuseum.com

Siviq Scores

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

Liabilities / Assets

19th percentile

0.01x

Higher debt load relative to assets than 19% of similar nonprofits.

NTEE A • $10M-$25M nonprofits • Source year 2025

Liabilities / Revenue

23rd percentile

0.04x

Higher debt load relative to revenue than 23% of similar nonprofits.

NTEE A • $10M-$25M nonprofits • Source year 2025

Net Margin

32nd percentile

-8.4%

Higher net margin than 32% of similar nonprofits.

NTEE A • $10M-$25M nonprofits • Source year 2025

Top Officer Pay

29th percentile

$105,000

Higher top officer pay than 29% of similar nonprofits.

Top officer pay equals 3.6% of source-year revenue.

NTEE A • $10M-$25M nonprofits • Source year 2025

Asset Growth

51st percentile

3.4%

Faster asset growth than 51% of similar nonprofits.

NTEE A • $10M-$25M nonprofits • Annualized from 2024 to 2025

Revenue Growth

52nd percentile

14%

Faster revenue growth than 52% of similar nonprofits.

NTEE A • $10M-$25M nonprofits • Annualized from 2024 to 2025

Assets

Up

$21,678,309

Up $710,784 (+3.4%) from 2024

Liabilities

Down

$109,478

Down $3,316 (-2.9%) from 2024

Net Assets

Up

$21,568,831

Up $714,100 (+3.4%) from 2024

Revenue

Up

$2,944,465

Up $358,501 (+14%) from 2024

Expenses

Up

$3,192,965

Up $400,752 (+14%) from 2024

Net Income

Down

-$248,500

Down $42,251 (-20%) from 2024

Trend Graphs

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2011: $18,515,560Liabilities 2011: $81,916Net Assets 2011: $18,433,6442011Assets 2012: $17,812,516Liabilities 2012: $94,337Net Assets 2012: $17,718,1792012Assets 2013: $17,927,433Liabilities 2013: $81,051Net Assets 2013: $17,846,3822013Assets 2014: $18,600,715Liabilities 2014: $56,840Net Assets 2014: $18,543,8752014Assets 2015: $18,443,216Liabilities 2015: $80,572Net Assets 2015: $18,362,6442015Assets 2016: $17,487,582Liabilities 2016: $60,197Net Assets 2016: $17,427,3852016Assets 2017: $17,633,077Liabilities 2017: $62,861Net Assets 2017: $17,570,2162017Assets 2018: $19,556,876Liabilities 2018: $46,733Net Assets 2018: $19,510,1432018Assets 2019: $20,141,315Liabilities 2019: $83,249Net Assets 2019: $20,058,0662019Assets 2020: $19,973,802Liabilities 2020: $186,375Net Assets 2020: $19,787,4272020Assets 2021: $22,313,581Liabilities 2021: $341,774Net Assets 2021: $21,971,8072021Assets 2022: $20,155,749Liabilities 2022: $198,853Net Assets 2022: $19,956,8962022Assets 2023: $20,086,582Liabilities 2023: $199,693Net Assets 2023: $19,886,8892023Assets 2024: $20,967,525Liabilities 2024: $112,794Net Assets 2024: $20,854,7312024Assets 2025: $21,678,309Liabilities 2025: $109,478Net Assets 2025: $21,568,8312025

Highlighted filing

2025

Assets$21,678,309
Liabilities$109,478
Net Assets$21,568,831

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $1,581,0132011Expenses 2012: $1,938,5002012Expenses 2013: $2,065,9912013Revenue 2014: $2,881,431Expenses 2014: $2,507,879Net Income 2014: $373,5522014Revenue 2015: $3,037,782Expenses 2015: $2,621,600Net Income 2015: $416,1822015Revenue 2016: $1,666,484Expenses 2016: $2,538,350Net Income 2016: -$871,8662016Revenue 2017: $2,392,252Expenses 2017: $2,399,511Net Income 2017: -$7,2592017Revenue 2018: $4,328,323Expenses 2018: $2,493,249Net Income 2018: $1,835,0742018Revenue 2019: $2,855,964Expenses 2019: $2,826,436Net Income 2019: $29,5282019Revenue 2020: $2,047,746Expenses 2020: $2,420,734Net Income 2020: -$372,9882020Revenue 2021: $1,904,557Expenses 2021: $2,181,295Net Income 2021: -$276,7382021Revenue 2022: $2,062,415Expenses 2022: $2,618,140Net Income 2022: -$555,7252022Revenue 2023: $2,352,193Expenses 2023: $2,806,105Net Income 2023: -$453,9122023Revenue 2024: $2,585,964Expenses 2024: $2,792,213Net Income 2024: -$206,2492024Revenue 2025: $2,944,465Expenses 2025: $3,192,965Net Income 2025: -$248,5002025

Highlighted filing

2025

Revenue$2,944,465
Expenses$3,192,965
Net Income-$248,500

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.7$0.11$21.6$2.94$3.19$0.25
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$21.0$0.11$20.9$2.59$2.79$0.21
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$20.1$0.20$19.9$2.35$2.81$0.45
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.2$0.20$20.0$2.06$2.62$0.56
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$22.3$0.34$22.0$1.90$2.18$0.28
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$20.0$0.19$19.8$2.05$2.42$0.37
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.1$0.08$20.1$2.86$2.83$0.03
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.6$0.05$19.5$4.33$2.49$1.84
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.6$0.06$17.6$2.39$2.40$0.01
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.5$0.06$17.4$1.67$2.54$0.87
2015Detailed filing. Detailed filing data is available for this year.$18.4$0.08$18.4$3.04$2.62$0.42
2014Detailed filing. Detailed filing data is available for this year.$18.6$0.06$18.5$2.88$2.51$0.37
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.9$0.08$17.8$2.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.8$0.09$17.7$1.94
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.5$0.08$18.4$1.58
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Dec 15, 2025
Return Version
2024v5.2
Gross Receipts
$3,552,563
Mission and Program Overview

Mission

Art education including lecture series, demonstration workshops, exhibitions, concerts and school programs.

The Cameron Art Museum provides a cultural gathering place that enriches the lives of museum visitors and the community through high-quality exhibitions, lifelong learning in the arts, dynamic public programs, and stewardship and interpretation of the collection.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$13,433,758$14,203,507▲ $769,749
Land, Buildings, and Equipment, Net$6,719,485$6,481,706▼ $237,779
Cash and Non-Interest-Bearing Accounts$756,071$917,376▲ $161,305
Accounts Receivable$9,662$42,051▲ $32,389
Inventories for Sale or Use$35,870$33,669▼ $2,201
Prepaid Expenses and Deferred Charges$12,679$0▼ $12,679
Total Assets$20,967,525$21,678,309▲ $710,784
Liabilities
Accounts Payable and Accrued Expenses$56,933$84,634▲ $27,701
Other Liabilities$43,511$17,444▼ $26,067
Deferred Revenue$12,350$7,400▼ $4,950
Total Liabilities$112,794$109,478▼ $3,316
Net Assets / Fund Balance
Net Assets With Donor Restrictions$13,433,758$14,228,507▲ $794,749
Net Assets Without Donor Restrictions$7,420,973$7,340,324▼ $80,649
Total Net Assets Fund Balance$20,854,731$21,568,831▲ $714,100
Total Liabilities and Net Assets / Fund Balance$20,967,525$21,678,309▲ $710,784

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,728,062$5,417,397$9,145,459
Land$2,420,000-$2,420,000
Equipment$255,151$1,326,457$1,581,607
Leasehold Improvements$74,852$378,418$453,271
Other Land Buildings$3,641$245,637$249,278

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$13,433,760---$14,203,507
2023$12,495,307---$13,433,760
2022$12,117,617-▲ $1,020,590$572,758$12,495,307
2021$14,112,992-▼ $1,357,549$555,188$12,117,617
2020$11,930,771-▲ $2,649,806$396,172$14,112,992
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Heather WilsonExecutive DirectorFT$105,000$105,000
Kenda WalterCFOFT$80,000$80,000
Revenue and Support

Revenue Composition

Contributions and Grants
$1,524,162
Program Service Revenue
$754,357
Investment Income
$317,144
Other Revenue
$348,802
All Other Contributions
$1,524,162
Change in Net Assets
$-248,500

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,944,465
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$1,057,083
Total Revenue per Audited Statements
$4,001,548
Total Revenue per Form 990
$2,944,465
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,689,675
Salaries, Compensation, and Employee Benefits$1,503,290
Total Fundraising Expense$425,015
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$554,220$290,235$274,485$1,118,940
Depreciation Depletion$243,242$42,925-$286,167
Occupancy$213,862$22,644$15,096$251,602
Fees for Services Other$156,330$45,397-$201,727
Other Employee Benefits$91,019$45,510$45,510$182,039
All Other Expenses$107,658--$107,658
Current Officers, Directors, Trustees, and Key Employees$57,750$15,750$31,500$105,000
Other Expenses$103,721$1,540$23,113$103,721
Payroll Taxes$48,655$24,328$24,328$97,311
Insurance$56,001$667$10,000$66,668
Travel$5,021$5,020-$10,041
Office Expenses$3,608$3,608$983$8,199
Total Functional Expenses$2,131,740$636,210$425,015$3,192,965

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,287,448
Expenses per Audited Statements$3,192,965
Total Expenses per Form 990$3,192,965
Expenses Not Reported on Form 990$94,483
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$301,094
Fundraising Direct Expenses$44,696
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$185,583$185,583$23,193$162,390
Design NC / Art Sales$115,511$115,511$21,503$94,008
Total Events$301,094$301,094$44,696$256,398
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Refundable Advance$15,004
Gift Cards$2,440
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Business relationship with 35% controlled entity
No
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11B

Cpa firm hired to perform audit. Once audit complete cpa firm hired to use audited figures to prepare a draft of the 990. The executive committee and executive director review that draft, and when approved the treasurer signs form 8879, and cpa firm efiles 990.

Form 990, Part VI, Section B, line 12C

Each board member required to disclose conflicts and potential conflicts tothe organization. Conflicted members will leave meeting and decisions whenconflicts arise, and not vote on any matters where there is conflict.

Form 990, Part VI, Section B, line 15

The board delegated responsibility of hiring and setting the currentemployment contract with the executive director to the executive committee.the executive committee is comprised of individuals with sufficientexperience and skill to accomplish the task. They consult various industryprofessionals, periodicals, job listings, past director salaries, and thecurrent rate of pay of the applicants. The current director was hired on acontract that contains cost of living increases annually. Theboard monitors performance.the board approves budget drafted by executive director. Executivedirector hires staff within the directives set in the budget process.

Form 990, Part VI, Section C, line 19

UPON REQUEST ONLY.

Filing and Contact Details

Filer

Filer Name
Louise Wells Cameron Art Museum
EIN
56-0812213
Phone
9103955999
Address
3201 South 17th Street, Wilmington, NC 28412

Signing Officer

Name
Frances Goodman
Title
Board Chair
Phone
9103955999
Signed
2025-12-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Frances Goodman
Formed
1962
Legal Domicile
Nc
Voting Board Members
16
Independent Board Members
16
Employees
0
Volunteers
125

Preparer

Firm
EARNEY Accountants & Advisors PLLC
Address
700 Military Cutoff Road Suite 250, Wilmington, NC 28405
Preparer
Ryan Skuce CPA
Phone
9102569995
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

Collections purchased -94,483.

Financial Statement Notes

Part X, Line 2:

The Museum and Foundation are a not-for-profit corporation as described in Section 501(c)(3) of the Internal Revenue Code. Accordingly, they are exempt from income taxes on related income pursuant to Section 501(a) of the Code and contributions may be deductible to donors. The Museum and Foundation file Form 990 with the Internal Revenue Service (IRS) annually; those forms are generally subject to examination by the IRS for a period of up to three years after they are filed.

Part XII, Line 2D - Other Adjustments:

Collections Purchased 94,483.

Raw XML AppendixShowing 400 of 608 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.

Path#Value
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IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt03201 SOUTH 17TH STREET
IRS990/BooksInCareOfDetail/USAddress/CityNm0WILMINGTON
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IRS990/Form990PartVIISectionAGrp/PersonNm0Ryan Bisplinghoff
IRS990/Form990PartVIISectionAGrp/PersonNm1Dr Bobbi Fitzsimmons
IRS990/Form990PartVIISectionAGrp/PersonNm2Mary McLean Evans
IRS990/Form990PartVIISectionAGrp/PersonNm3Blair Kitrow
IRS990/Form990PartVIISectionAGrp/PersonNm4Carmel Lapa
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IRS990/Form990PartVIISectionAGrp/PersonNm9Dr Drew Rosen
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IRS990/Form990PartVIISectionAGrp/PersonNm15Dr Acquenetta Wheeler
IRS990/Form990PartVIISectionAGrp/PersonNm16Frances Goodman
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