Museum Of Fine Arts

Organization Overview

Museum Of Fine Arts is located in Boston, MA. The organization was established in 1965. 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 Fine Arts employed 847 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Museum Of Fine Arts 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 06/2020, Museum Of Fine Arts generated $175.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $122.4m during the year ending 06/2020. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

SEE SCHEDULE O.

Describe the Organization's Program Activity:

Part 3 - Line 4a

EDUCATION PROGRAMS: THE MUSEUM MAINTAINS AN ONGOING SERIES OF EDUCATION PROGRAMS AND ACTIVITIES IN ORDER TO FURTHER THE MISSION OF THE MUSEUM AND PROVIDE EDUCATIONAL OPPORTUNITIES IN ART. EDUCATION PROGRAMS COVER A WIDE SPECTRUM OF TOPICS AND INCLUDE STUDIO ART CLASSES AND WORKSHOPS FOR CHILDREN, TEENS AND ADULTS, LECTURES, FILMS, CONCERTS, A VARIETY OF OTHER COURSES, FREE DEMONSTRATIONS AND TALKS, FREE WORKSHOPS FOR EDUCATORS, SCHOOL GROUP TOURS, PARTNERSHIPS WITH LOCAL AREA SCHOOLS, AFTER-SCHOOL PROGRAMS AND COMMUNITY GROUPS TO ENGAGE YOUTH IN ARTS AND PROGRAMS FOR FAMILY VISITS TO THE MUSEUM.


EXHIBITIONS: WITH A COLLECTION OF NEARLY 500,000 OBJECTS, THE MUSEUM OWNS SOME OF THE RARE AND IMPORTANT ARTISTIC TREASURES IN THE WORLD. SUCH A COLLECTION ENABLES THE MUSEUM TO PRESENT MANY SPECIAL EXHIBITIONS WITH A BALANCE BETWEEN SCHOLARLY PROGRAMS AND THOSE WITH BROAD PUBLIC APPEAL. DURING FISCAL YEAR 2021, THE MUSEUM PRESENTED 20 EXHIBITIONS. SOME HIGHLIGHTS INCLUDE: THE MURAL PROJECT; MURALS FOR THE MOVEMENT; WRITING THE FUTURE: BASQUIAT AND THE HIP-HOP GENERATION; CEZANNE: IN AND OUT OF TIME; COMMUNITY ARTS INITIATIVE: EXCHANGE CODES; MONET AND BOSTON: LASTING IMPRESSION; COLLECTING STORIES: THE INVENTION OF FOLK ART; PAUL CEZANNE: INFLUENCE; WENG FAMILY COLLECTION OF CHINESE PAINTING: TRAVEL AND HOME; RESIST COVID/TAKE 6!; MONET AND BOSTON: LEGACY ILLUMINATED; COMMUNITY ARTS INITIATIVE: PATTERNS OF GREATNESS; THE BANNER PROJECT: LAUREN HALSEY; SAMANTHA NYE: MY HEART'S IN A WHIRL; GARDEN FOR BOSTON; GRACIELA ITURBIDE'S MEXICO AT NATIONAL MUSEUM OF WOMEN IN THE ARTS WASHINGTON DC; ANSEL ADAMS IN OUR TIME AT CRYSTAL BRIDGES MUSEUM OF AMERICAN ART BENTONVILLE, ARKANSAS; NUBIA: TREASURES OF ANCIENT AFRICA AT SAINT LOUIS ART MUSEUM SAINT LOUIS, MISSOURI; ANSEL ADAMS IN OUR TIME AT PORTLAND ART MUSEUM PORTLAND, OREGON; FRENCH IMPRESSIONISM AT NATIONAL GALLERY OF VICTORIA MELBOURNE, AUSTRALIA.


ENTERPRISE: THE MUSEUM'S RETAIL OPERATIONS OFFERS A WIDE VARIETY OF MERCHANDISE RELATED TO THE MUSEUM'S COLLECTIONS AND SPECIAL EXHIBITIONS, WHICH CONTRIBUTE IMPORTANTLY TO THE ACHIEVEMENT OF THE MUSEUM'S EXEMPT EDUCATIONAL PURPOSE BY MAKING WORKS OF ART FAMILIAR TO A BROADER SEGMENT OF THE PUBLIC. OFFERINGS AT SHOP INCLUDE ART BOOKS, POSTERS, CARDS, GLASS, TEXTILES, JEWELRY AND SCULPTURE. MERCHANDISE IS FOR SALE IN THE PHYSICAL SHOPS OR THROUGH RETAIL'S WEB-BASED OUTLET.THE MUSEUM IS EXEMPT AS AN EDUCATIONAL ORGANIZATION ON THE BASIS OF ITS OWNERSHIP, MAINTENANCE, AND EXHIBITION FOR PUBLIC VIEWING OF WORKS OF ART. THE SALES OF SUCH ITEMS CONTRIBUTES IMPORTANTLY TO THE ACHIEVEMENT OF THE MUSEUM'S EXEMPT EDUCATIONAL PURPOSES BY STIMULATING AND ENHANCING PUBLIC AWARENESS, INTEREST, AND APPRECIATION OF ART. MOREOVER, A BROADER SEGMENT OF THE PUBLIC MAY BE ENCOURAGED TO VISIT THE MUSEUM ITSELF TO SHARE IN ITS EDUCATIONAL FUNCTIONS AND PROGRAMS AS A RESULT OF SEEING THE ITEMS SOLD.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Shawmut Woodworking
Construction
$6,801,851
Consigli Construction Co Inc
Construction
$2,955,399
Us Art Company
Art Shipping And Storage
$1,619,609
Foley Hoag Llp
Legal
$826,833
Cambridge Associates Llc
Investment Management
$996,490
View All Vendors

Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$139,956,913
Investment income $4,458,837
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $5,280,961
Net Gain/Loss on Asset Sales $8,459,044
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $1,372,112
Miscellaneous Revenue$0
Total Revenue $175,070,799

Grants Recieved

Over the last fiscal year, we have identified 8 grants that Museum Of Fine Arts has recieved totaling $24,278.

Awarding OrganizationAmount
Alchemy Foundation

Cambridge, MA

PURPOSE: GENERAL SUPPORT

$10,000
Yas Foundation Inc

Boston, MA

PURPOSE: PROGRAM SUPPORT

$6,000
Reamer Family Foundation

Boston, MA

PURPOSE: ARTS & CULTURE

$5,000
Dudley And Constance Godfrey Foundation Inc

Milwaukee, WI

PURPOSE: CULTURAL

$2,000
Max & Sophie Mydans Foundation

Dallas, TX

PURPOSE: UNRESTRICTED GENERAL

$528
Tom & Myrna Frankel Foundation

San Francisco, CA

PURPOSE: UNRESTRICTED

$300
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$616,774,648
Earnings$173,481,226
Admin Expense$12,107,574
Net Contributions$27,970,520
Other Expense$13,312,406
Ending Balance$792,806,414

Peer Organizations

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