Museum Of Modern Art

Organization Overview

Museum Of Modern Art is located in New York, NY. The organization was established in 1952. 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 06/2021, Museum Of Modern Art employed 1,107 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Museum Of Modern Art is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2021, Museum Of Modern Art generated $251.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (7.8%) each year. All expenses for the organization totaled $236.1m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (0.9%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE MUSEUM OF MODERN ART ESTABLISHES, PRESERVES, AND DOCUMENTS A (CONTINUED IN SCHEDULE O)

Describe the Organization's Program Activity:

MUSEUM OPERATIONS - CURATORIAL AND CURATORIAL SUPPORT DEPARTMENTS INCLUDE CONSERVATION, EDUCATION, EXHIBITIONS, CREATIVE, PUBLICATIONS, LIBRARY AND ARCHIVES. THE MUSEUM WAS FOUNDED IN 1929 AS AN EDUCATIONAL INSTITUTION AND MAINTAINS A VAST BREADTH OF EDUCATIONAL PROGRAMMING, WHICH INCREASED IN THE YEARS AFTER THE OPENINGS OF THE RENOVATIONS AND EXPANSIONS IN 2004, 2006, AND 2019. (CONTINUED IN SCHEDULE O)


IN FY 2021, OVER 841 WORKS WERE ADDED TO THIS COLLECTION, BOTH BY DONATION AND BY PURCHASE.


SECURITY, OPERATIONS, AND MAINTENANCE OF EXHIBITION GALLERIES AND ART COLLECTION.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Imerex Inc
Advertising
$1,291,992
Globalmail Inc
Mailing
$922,029
Collins Building Services Inc
Janitorial Cleaning
$2,884,816
Universal Protection Service Lp
Security
$806,104
Masterpiece International Ltd
Art Transport
$649,486
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$1,451,451
Fundraising events$6,014,100
Related organizations$0
Government grants $20,000
All other contributions, gifts, grants, and similar amounts not included above$91,294,797
Noncash contributions included in lines 1a–1f $25,871,041
Total Revenue from Contributions, Gifts, Grants & Similar$98,780,348
Total Program Service Revenue$5,545,899
Investment income $19,543,719
Tax Exempt Bond Proceeds $0
Royalties $31,003
Net Rental Income $33,399
Net Gain/Loss on Asset Sales $103,926,147
Net Income from Fundraising Events -$355,211
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $23,865,606
Miscellaneous Revenue$0
Total Revenue $251,623,479

Grants Recieved

Over the last fiscal year, we have identified 16 grants that Museum Of Modern Art has recieved totaling $3,688,448.

Awarding OrganizationAmount
Peter Schub Foundation

New York, NY

PURPOSE: PROMOTE PHOTOGRAPHY OF MUSEUM ART

$3,500,000
Louis B Mayer Foundation

New York, NY

PURPOSE: TO PRESERVE THE FILM HERITAGE OF WILLIAM S. HART.

$70,000
A Woodner Fund Inc

New York, NY

PURPOSE: FINE ARTS MUSEUM

$55,000
Epstein Philanthropies

New York, NY

PURPOSE: GENERAL PURPOSES

$40,000
Marc E Leland Foundation

Boston, MA

PURPOSE: UNRESTRICTED

$10,000
Sharon And Lewis Korman Foundation

New York, NY

PURPOSE: FOR OPERATIONS

$5,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$891,045,788
Earnings$211,937,510
Net Contributions$64,703,512
Other Expense$81,052,997
Ending Balance$1,086,633,813

Peer Organizations

Organization NameAssets
The Metropolitan Museum Of Art
New York, NY
$653,501,924
Museum Of Modern Art
New York, NY
$251,623,479
Museum Of Fine Arts
Boston, MA
$175,070,799
Whitney Museum Of American Art
New York, NY
$113,143,000
Philadelphia Museum Of Art
Philadelphia, PA
$116,812,968
Solomon R Guggenheim Foundation
New York, NY
$73,166,662
Brooklyn Institute Of Arts And Sciences
Brooklyn, NY
$82,546,120
Sterling & Francine Clark Art Inst
Williamstown, MA
$8,296,004
Frick Collection
New York, NY
$37,986,909
Barnes Foundation
Philadelphia, PA
$21,249,120
Isabella Stewart Gardner Museum Inc
Boston, MA
$30,352,820
Buffalo Fine Arts Academy
Buffalo, NY
$30,844,940

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