The Metropolitan Museum Of Art is located in New York, NY. The organization was established in 1994. According to its NTEE Classification (A51) the organization is classified as: Art Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2020, Metropolitan Museum Of Art employed 2,458 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 06/2020, Metropolitan Museum Of Art generated $414.7m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (2.6%) each year. All expenses for the organization totaled $421.2m during the year ending 06/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE METROPOLITAN MUSEUM OF ART COLLECTS, STUDIES, CONSERVES, AND PRESENTS SIGNIFICANT WORKS OF ART ACROSS ALL TIMES AND CULTURES; SEE SCHEDULE O FOR MORE DETAILS
Describe the Organization's Program Activity:
Part 3 - Line 4a
CURATORIAL DEPARTMENTS, INCLUDING OPERATION OF THE CLOISTERS OPERATIONS OF BREUER, CONSERVATION, CATALOGUING AND SCHOLARLY PUBLICATIONS (INCLUDES FELLOWSHIP AWARDS AND TRAVEL STIPENDS IN THE AMOUNT OF $2,985,305) - SEE SCHEDULE O FOR MORE INFORMATION
ACQUISITIONS AND SALES OF ART - SEE SCHEDULE O FOR MORE INFORMATION
EDUCATION PROGRAMS AND MUSEUM LIBRARIES - SEE SCHEDULE O FOR MORE INFORMATION
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Lauren A Meserve Svp, Chief Investment Officer | Officer | 35 | $1,329,582 |
Daniel H Weiss President/ceo, Ex-Off. Trustee | OfficerTrustee | 35 | $1,308,182 |
Max Hollein Director/ex-Off. Trustee | OfficerTrustee | 35 | $1,198,363 |
Clyde B Jones III SVP Institutional Advancement | Officer | 35 | $535,140 |
Justin V Reed Investment Officer To 8/20 | 35 | $508,891 | |
Rich Pedott VP & Gnl Mgr Retail To 10/19 | Officer | 35 | $506,164 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Skanska Usa Building Inc Construction Manager | 6/29/20 | $32,091,264 |
Shawmut Design And Construction Construction Manager | 6/29/20 | $3,039,406 |
Masterpiece International Customs Brokerage | 6/29/20 | $4,179,699 |
H L Electric Inc Construction Manager | 6/29/20 | $3,706,836 |
Island Acoustics Llc Construction Manager | 6/29/20 | $2,830,017 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $22,881,625 |
Fundraising events | $9,774,807 |
Related organizations | $0 |
Government grants | $10,560,621 |
All other contributions, gifts, grants, and similar amounts not included above | $201,824,440 |
Noncash contributions included in lines 1a–1f | $16,209,809 |
Total Revenue from Contributions, Gifts, Grants & Similar | $245,041,493 |
Total Program Service Revenue | $5,071,378 |
Investment income | $39,065,456 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $54,479 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $99,104,041 |
Net Income from Fundraising Events | -$1,375,162 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | -$7,824,137 |
Miscellaneous Revenue | $0 |
Total Revenue | $414,668,610 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $2,971,472 |
Grants and other assistance to Foreign Orgs/Individuals | $13,833 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $8,544,477 |
Compensation of current officers, directors, key employees. | $4,216,221 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $140,852,202 |
Pension plan accruals and contributions | $6,922,498 |
Other employee benefits | $57,465,840 |
Payroll taxes | $9,872,184 |
Fees for services: Management | $0 |
Fees for services: Legal | $1,377,715 |
Fees for services: Accounting | $881,683 |
Fees for services: Lobbying | $82,688 |
Fees for services: Fundraising | $137,892 |
Fees for services: Investment Management | $21,166,282 |
Fees for services: Other | $7,551,338 |
Advertising and promotion | $6,893,937 |
Office expenses | $25,273,774 |
Information technology | $4,340,925 |
Royalties | $0 |
Occupancy | $5,989,174 |
Travel | $2,234,564 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $373,710 |
Interest | $13,691,467 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $55,247,456 |
Insurance | $2,111,861 |
All other expenses | $784,623 |
Total functional expenses | $421,209,919 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $107,537,254 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $132,149,424 |
Accounts receivable, net | $8,401,423 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $8,716,108 |
Prepaid expenses and deferred charges | $11,058,394 |
Net Land, buildings, and equipment | $370,204,709 |
Investments—publicly traded securities | $2,713,133,698 |
Investments—other securities | $1,142,402,533 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $37,350,200 |
Total assets | $4,530,953,743 |
Accounts payable and accrued expenses | $74,133,698 |
Grants payable | $0 |
Deferred revenue | $11,006,855 |
Tax-exempt bond liabilities | $180,372,270 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $73,525,714 |
Unsecured mortgages and notes payable | $247,539,041 |
Other liabilities | $266,370,675 |
Total liabilities | $852,948,253 |
Net assets without donor restrictions | $1,002,547,639 |
Net assets with donor restrictions | $2,675,457,851 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $4,530,953,743 |
Over the last fiscal year, we have identified 173 grants that The Metropolitan Museum Of Art has recieved totaling $3,499,227.
Awarding Organization | Amount |
---|---|
Jewish Communal Fund New York, NY PURPOSE: General support | $1,003,020 |
The Richardson Foundation Katonah, NY PURPOSE: GENERAL FUNDING | $235,000 |
Edward John And Patricia Rosenwald Foundation New York, NY PURPOSE: GENERAL SUPPORT | $233,830 |
Winterburn Foundation New York, NY PURPOSE: TO SUSTAIN ITS POSITION IN THE WORLD. | $150,000 |
Winterburn Foundation New York, NY PURPOSE: TO SUSTAIN ITS POSITION IN THE WORLD. | $150,000 |
Francis Nielson Trust B 34985028 Chicago, IL PURPOSE: GENERAL | $139,086 |
Beg. Balance | $3,256,389,064 |
Earnings | $123,776,925 |
Net Contributions | $52,194,550 |
Other Expense | $167,220,065 |
Grants | $3,182,733 |
Ending Balance | $3,261,957,741 |
Organization Name | Assets | Revenue |
---|---|---|
The Metropolitan Museum Of Art New York, NY | $4,530,953,743 | $414,668,610 |
Museum Of Modern Art New York, NY | $2,331,703,503 | $262,144,582 |
Museum Of Fine Arts Boston, MA | $1,234,619,782 | $175,070,799 |
Whitney Museum Of American Art New York, NY | $937,771,000 | $113,143,000 |
Philadelphia Museum Of Art Philadelphia, PA | $1,089,326,303 | $111,793,644 |
Solomon R Guggenheim Foundation New York, NY | $211,321,255 | $84,620,075 |
Brooklyn Institute Of Arts And Sciences Brooklyn, NY | $323,254,347 | $40,602,578 |
Frick Collection New York, NY | $460,985,969 | $72,415,948 |
Sterling & Francine Clark Art Inst Williamstown, MA | $592,810,685 | $26,673,561 |
Barnes Foundation Philadelphia, PA | $214,994,378 | $24,564,152 |
Isabella Stewart Gardner Museum Inc Boston, MA | $300,537,225 | $28,169,713 |
International Center Of Photography New York, NY | $78,791,074 | $13,311,038 |