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 06/2022, Museum Of Fine Arts employed 747 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 06/2021, Museum Of Fine Arts generated $137.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $128.2m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE MUSEUM OF FINE ARTS HOUSES AND PRESERVES PREEMINENT COLLECTIONS AND ASPIRES TO SERVE A WIDE VARIETY OF PEOPLE THROUGH DIRECT ENCOUNTERS WITH WORKS OF ART IN ORDER TO ENCOURAGE INQUIRY AND TO HEIGHTEN PUBLIC UNDERSTANDING AND APPRECIATION OF THE VISUAL WORLD.

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 2022, THE MUSEUM PRESENTED 18 EXHIBITIONS. SOME HIGHLIGHTS INCLUDE: NEW LIGHT: ENCOUNTERS AND CONNECTIONS; PAPER STORIES, LAYERED DREAMS; FABRIC OF NATION; HELINA METAFERUCA: GENERATIONS; TATTOOS IN JAPANESE PRINTS; FROM PARIS TO HOLLYWOOD: CLAUDETTE COLBERT'S STARFISH BROOCH; DAWOUD BEY: BIGHT COMING TENDERLY; REAL PHOTO POSTCARDS: PICTURES FROM A CHANGING NATION; WENG FAMILY COLLECTION OF CHINESE PAINTING: ART ROCKS; TURNER'S MODERN WORLD; PHILIP GUSTON NOW; STORIES ARTISTS TELL: ART OF THE AMERICAS, THE 20TH CENTURY; TOUCHING ROOTS: BLACK ANCESTRAL LEGACIES IN THE AMERICAS; COMMUNITY ARTS INITIATIVE: EMPOWERED FACES; THE BANNER PROJECT: DIEDRICK BRACKENS; INCOMPARABLE IMPRESSIONISM FROM THE MFA AT MFA HOUSTON; THE HEROES CHRONICLES OF THE WARRIORS: JAPANESE SWORDS X UKIYO-E AT MORI ARTS CENTER GALLERY IN TOKYO, JAPAN AND THE NIIGATA BANDAIJIMA ART MUSEUM IN NIIGATA, JAPAN.


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
Us Art Company
Art Shipping And Storage
$1,933,261
Connelly Partners Llc
Marketing
$1,451,032
C&w Facility Services Inc
Cleaning Services
$1,254,520
Wise Construction Corp
Construction
$1,119,409
Allied Universal
Security
$910,619
View All Vendors

Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$62,410,288
Investment income $6,165,745
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $5,280,955
Net Gain/Loss on Asset Sales $45,181,786
Net Income from Fundraising Events $18,175
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $880,549
Miscellaneous Revenue$0
Total Revenue $137,057,905

Peer Organizations

Organization NameAssets
The Metropolitan Museum Of Art
New York, NY
$761,527,826
Museum Of Modern Art
New York, NY
$265,321,760
Museum Of Fine Arts
Boston, MA
$137,057,905
Whitney Museum Of American Art
New York, NY
$110,055,900
Solomon R Guggenheim Foundation
New York, NY
$75,933,810
Brooklyn Institute Of Arts And Sciences
Brooklyn, NY
$88,940,575
Sterling & Francine Clark Art Inst
Williamstown, MA
$10,724,599
Buffalo Fine Arts Academy
Buffalo, NY
$19,629,613
Frick Collection
New York, NY
$67,471,378
Isabella Stewart Gardner Museum Inc
Boston, MA
$30,352,820
New Museum Of Contemporary Art
New York, NY
$22,785,608
Neue Galerie New York
New York, NY
$14,693,129
Wadsworth Atheneum Museum Of Art
Hartford, CT
$10,944,489
Doris Duke Foundation For Islamic Art
New York, NY
$17,225,453
Institute Of Contemporary Art
Boston, MA
$26,427,567
Museum Of Arts And Design
New York, NY
$12,286,366
International Center Of Photography
New York, NY
$11,859,344
Worcester Art Museum
Worcester, MA
$15,255,766
Ps1 Contemporary Art Center Inc
Long Island City, NY
$9,702,873
Isamu Noguchi Foundation And Garden Museum
Long Island City, NY
$11,920,545
Storm King Art Center
New Windsor, NY
$8,437,388
Poster House Inc
New York, NY
$8,842,575
Currier Museum Of Art
Manchester, NH
$12,269,054
Queens Museum Of Art New York City Building
Queens, NY
$6,381,652
Fellowship For The Performing Arts Inc
New York, NY
$10,839,922

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