Smithsonian Institute
- Assets
- $6.1b
- Revenue
- $1.6b
- Investments
- $1.8b
- Employees
- 6,829
- Location
- Washington, DC
- Founding
- 01/1924
- Data as of
- 09/2020
- 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 09/2021, Smithsonian Institute employed 6,829 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 09/2020, Smithsonian Institute generated $1.6b in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $1.4b during the year ending 09/2020. While expenses have increased by 1.1% per year over the past 6 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 79 individual grants totaling $1,794,967. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
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:
Part 3 - Line 4a
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 |
|---|---|---|---|
Mr Lonnie G Bunch III Secretary Of The Smithsonian | Officer | 50 | $726,156 |
Amy Chen Chief Investment Officer | Officer | 50 | $673,679 |
Jeffrey Smith Investment Officer | 50 | $615,259 | |
Michael Giovenco Investment Officer | 50 | $530,390 | |
Carol Leblanc President, Smithsonian Enterprises | Officer | 50 | $501,299 |
Ryan Dotson Investment Officer | 50 | $472,123 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Clarksmootconsigli A Joint Venture Construction | 9/29/21 | $94,129,726 |
Universal Protection Service Lp Security | 9/29/21 | $15,447,446 |
Tc Pennsy Drive Llc Real Estate | 9/29/21 | $8,599,481 |
100 Discovery Park De Llc Real Estate | 9/29/21 | $5,355,337 |
Huang-cfm Joint Venture 5601n General Construction | 9/29/21 | $4,452,145 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,308,610,079 |
| Investment income | $12,136,585 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $16,839,860 |
| Net Rental Income | $4,209,900 |
| Net Gain/Loss on Asset Sales | $126,794,238 |
| Net Income from Fundraising Events | -$1,983,062 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $16,465,002 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,561,599,985 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $10,796,566 |
| Grants and other assistance to Foreign Orgs/Individuals | $4,829,115 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $5,238,154 |
| Compensation to disqualified persons | $3,251,556 |
| Other salaries and wages | $560,012,694 |
| Pension plan accruals and contributions | $82,341,544 |
| Other employee benefits | $50,957,381 |
| Payroll taxes | $38,208,598 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $870,200 |
| Fees for services: Accounting | $1,046,210 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $2,351,761 |
| Fees for services: Investment Management | $2,236,898 |
| Fees for services: Other | $111,217,358 |
| Advertising and promotion | $3,451,800 |
| Office expenses | $42,664,800 |
| Information technology | $57,706,379 |
| Royalties | $242,908 |
| Occupancy | $120,395,914 |
| Travel | $6,390,076 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,765,315 |
| Interest | $3,114,275 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $198,403,751 |
| Insurance | $2,011,215 |
| All other expenses | $0 |
| Total functional expenses | $1,394,014,893 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $886,734,458 |
| Savings and temporary cash investments | $132,486,826 |
| Pledges and grants receivable | $174,700,566 |
| Accounts receivable, net | $35,118,164 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $12,284,919 |
| Prepaid expenses and deferred charges | $7,827,545 |
| Investments—publicly traded securities | $296,159,722 |
| Investments—other securities | $1,751,236,768 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,042,720 |
| Total assets | $6,053,364,633 |
| Accounts payable and accrued expenses | $295,826,945 |
| Grants payable | $0 |
| Deferred revenue | $677,540,432 |
| Tax-exempt bond liabilities | $94,604,197 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $296,744,908 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $51,668,648 |
| Total liabilities | $1,416,385,130 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $4,636,979,503 |
Grants Awarded
Over the last fiscal year, Smithsonian Institute has awarded $234,535 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
OLD DOMINION UNIVERSITY PURPOSE: ACADEMIC APPT. STIPENDS | $55,000 |
Flushing, NY PURPOSE: ACADEMIC APPT. STIPENDS | $35,000 |
Columbus, OH PURPOSE: ACADEMIC APPT. STIPENDS | $27,550 |
UNIVERSITY OF MARYLAND AT COLL PURPOSE: ACADEMIC APPT. STIPENDS | $27,351 |
CALDWELL COUNTY SCHOOLS PURPOSE: ACADEMIC APPT. STIPENDS | $20,950 |
MARLBORO COUNTY SCHOOL DISTRIC PURPOSE: ACADEMIC APPT. STIPENDS | $15,500 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Smithsonian Institute has recieved totaling $70,614.
| Awarding Organization | Amount |
|---|---|
Millennium Evergreen Charitable Fund Owings Mills, MD PURPOSE: GENERAL SUPPORT | $50,000 |
The Foundation For Enhancing Communities Harrisburg, PA PURPOSE: TO BE USED FOR GENERAL SUPPORT | $15,604 |
The Robert L James And Anne K James Foundation Albany, NY PURPOSE: GENERAL CHARITABLE PURPOSES | $5,000 |
Lois A Kania Charitable Foundation Ltd Green Bay, WI PURPOSE: TO SUPPORT GENERAL OPERATIONS | $10 |
Endowment Analysis
| Beg. Balance | $1,937,754,681 |
| Earnings | $626,775,984 |
| Admin Expense | $3,047,189 |
| Net Contributions | $50,779,878 |
| Other Expense | $79,750,157 |
| Ending Balance | $2,532,513,197 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
International Spy Museum Washington, DC | $139,621,736 | $22,140,962 |
Mariners Museum Newport News, VA | $159,780,245 | $10,021,200 |
Chesapeake Bay Maritime Museum Inc Saint Michaels, MD | $39,670,845 | $11,802,090 |
Science Museum Of Virginia Foundation Incorporated Richmond, VA | $31,752,161 | $5,835,880 |
National Building Museum Washington, DC | $8,920,603 | $4,582,435 |
Annapolis Maritime Museum Inc Annapolis, MD | $6,274,722 | $3,173,631 |
The Hermitage Museum And Gardens Norfolk, VA | $905,671 | $1,858,618 |
Keystone Tractor Museum Inc Colonial Heights, VA | $22,360,643 | $1,038,052 |
International Arts And Artists Inc Washington, DC | $3,217,504 | $1,902,138 |
The Black History Museum And Cultural Center Inc Richmond, VA | $8,478,867 | $745,690 |
Military Aviation Museum Virginia Beach, VA | $1,953,725 | $1,982,680 |
Old Dominion University Museum Foundation Norfolk, VA | $8,337,804 | $1,813,062 |