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Saturday, February 16 , 2019, 6:12 pm | Partly Cloudy 53º

 
 
 
 

SBMA Receives Charity Navigator’s Four-Star Rating

For the second time in consecutive years, the Santa Barbara Museum of Art (SBMA) has been recognized as a “Four Star Charity” by nonprofit evaluator Charity Navigator.

SBMA earned the second highest rating in the country among art museums, as determined by Charity Navigator’s criteria of fiscal efficiency (administrative costs and overhead vs. programs and output) and financial transparency.
 
Achieving a four-star rating in consecutive years is also deemed as highly significant.

In a letter sent to SBMA, Michael Thatcher, Charity Navigator president and CEO, writes: “Only 23% of the charities we evaluate have received at least 2 consecutive 4-star evaluations, indicating that Santa Barbara Museum of Art outperforms most other charities in America.

"This exceptional designation from Charity Navigator sets Santa Barbara Museum of Art apart from its peers and demonstrates to the public its trustworthiness, ” he said.
 
“We are very pleased that the Museum has, once again, achieved this high level of confidence from one of the country’s most respected evaluating organizations, especially as we continue our fundraising efforts during the current renovation project,” said SBMA’s Larry Feinberg.

“We are determined to maintain the same level of fiscal efficiency and transparency so that we will maintain, or even increase, our ranking in the future," said Feinberg, SBMA’s Robert and Mercedes Eichholz director.
 
Founded in 2001, Charity Navigator has become the nation's largest and most-utilized evaluator of charities. Its team of professional analysts has examined tens of thousands of nonprofit financial documents.

The group uses this knowledge to develop an unbiased, objective, numbers-based rating system to assess more than 8,000 of America's best-known and some lesser known, but worthy, charities.
 
Specifically, Charity Navigator's rating system examines two broad areas of a charity's performance: financial health and accountability and transparency.

Ratings show givers how efficiently they believe a charity will use their support today, how well it has sustained its programs and services over time, and their level of commitment to good governance, best practices, and openness with information.

— Katrina Carl for Santa Barbara Museum of Art.

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