Smithsonian Institute
- Assets
- $7.1b
- Revenue
- $1.8b
- Investments
- $2.8b
- Employees
- 7,170
- Location
- Washington, DC
- Founding
- 01/1924
- Data as of
- 09/2021
- EIN
- 53-0206027
Organization Overview
Smithsonian Institute is located in Washington, DC. The organization was established in 1924. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 09/2023, Smithsonian Institute employed 7,170 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Smithsonian Institute 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 09/2021, Smithsonian Institute generated $1.8b in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $1.4b during the year ending 09/2021. While expenses have increased by 1.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Smithsonian Institute has awarded 127 individual grants totaling $2,914,745. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
"INCREASE AND DIFFUSION OF KNOWLEDGE" IS THE MISSION SET FORTH BY JAMES SMITHSON.
Describe the Organization's Program Activity:
EDUCATION, PUBLIC PROGRAMS AND EXHIBITIONS (SEE SCHEDULE O)
RESEARCH AND COLLECTIONS (SEE SCHEDULE O)
MEMBERSHIP (SEE SCHEDULE O)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Honorable John G Roberts Jr Regent | Trustee | 2 | $0 |
Honorable Kamala D Harris Regent | Trustee | 2 | $0 |
Honorable John Boozman Regent | Trustee | 2 | $0 |
Honorable Catherine Cortez Masto Regent | Trustee | 2 | $0 |
Honorable Doris Matsui Regent | Trustee | 2 | $0 |
Honorable Adrian Smith Regent | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Clarksmootconsigli A Joint Venture Construction | 9/29/23 | $98,893,155 |
Universal Protection Service Lp Security | 9/29/23 | $20,885,621 |
Dell Marketing Lp Marketing | 9/29/23 | $5,608,467 |
100 Discovery Park De Llc Real Estate | 9/29/23 | $4,652,746 |
Tc Pennsy Drive Llc Real Estate | 9/29/23 | $7,904,344 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,527,783,787 |
| Investment income | $11,187,982 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $12,307,816 |
| Net Rental Income | $853,626 |
| Net Gain/Loss on Asset Sales | $162,723,358 |
| Net Income from Fundraising Events | -$139,987 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $6,721,533 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,804,763,983 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $11,810,520 |
| Grants and other assistance to Foreign Orgs/Individuals | $2,951,560 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $7,699,235 |
| Compensation to disqualified persons | $1,616,163 |
| Other salaries and wages | $540,853,399 |
| Pension plan accruals and contributions | $74,093,777 |
| Other employee benefits | $72,622,988 |
| Payroll taxes | $38,615,581 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $347,534 |
| Fees for services: Accounting | $1,246,043 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $1,928,096 |
| Fees for services: Investment Management | $3,234,653 |
| Fees for services: Other | $120,594,318 |
| Advertising and promotion | $2,378,654 |
| Office expenses | $42,414,848 |
| Information technology | $43,791,018 |
| Royalties | $360,282 |
| Occupancy | $157,695,520 |
| Travel | $3,415,554 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,177,002 |
| Interest | $6,911,571 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $168,501,285 |
| Insurance | $1,898,731 |
| All other expenses | $0 |
| Total functional expenses | $1,416,120,138 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $844,451,216 |
| Savings and temporary cash investments | $63,712,426 |
| Pledges and grants receivable | $384,207,924 |
| Accounts receivable, net | $14,015,641 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $10,864,725 |
| Prepaid expenses and deferred charges | $5,422,180 |
| Investments—publicly traded securities | $14,017,884 |
| Investments—other securities | $2,834,308,164 |
| Investments—program-related | $0 |
| Intangible assets | $110,422,301 |
| Other assets | $9,441,268 |
| Total assets | $7,059,162,886 |
| Accounts payable and accrued expenses | $272,879,396 |
| Grants payable | $0 |
| Deferred revenue | $730,285,978 |
| Tax-exempt bond liabilities | $92,743,241 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $419,570,713 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $47,720,399 |
| Total liabilities | $1,563,199,727 |
| Net assets without donor restrictions | $2,805,038,537 |
| Net assets with donor restrictions | $2,690,924,622 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $5,495,963,159 |
Grants Awarded
Over the last fiscal year, Smithsonian Institute has awarded $599,528 in support to 26 organizations.
| Grant Recipient | Amount |
|---|---|
CLARK ATLANTA UNIVERSITY INC PURPOSE: ACADEMIC APPT. STIPENDS | $31,850 |
JACKSON STATE UNIVERSITY PURPOSE: ACADEMIC APPT. STIPENDS | $52,050 |
FLORIDA A&M UNIVERSITY PURPOSE: ACADEMIC APPT. STIPENDS | $31,850 |
UNIVERSITY OF MARYLAND PURPOSE: ACADEMIC APPT. STIPENDS | $6,810 |
TEXAS SOUTHERN UNIVERSITY PURPOSE: ACADEMIC APPT. STIPENDS | $31,850 |
UNIVERSITY OF MARYLAND AT COLLEGE PARK PURPOSE: ACADEMIC APPT. STIPENDS | $35,000 |