The Metropolitan Museum Of Art
- Assets
- $5.4b
- Revenue
- $653.5m
- Investments
- $1.8b
- Employees
- 2,079
- Location
- New York, NY
- Founding
- 03/1994
- Data as of
- 06/2022
- EIN
- 13-1624086
Organization Overview
The Metropolitan Museum Of Art is located in New York, NY. The organization was established in 1994. 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, Metropolitan Museum Of Art employed 2,079 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Metropolitan Museum Of 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 06/2022, Metropolitan Museum Of Art generated $653.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $418.8m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE METROPOLITAN MUSEUM OF ART COLLECTS, STUDIES, CONSERVES, AND PRESENTS SIGNIFICANT WORKS OF ART ACROSS ALL TIMES AND CULTURES. PLEASE SEE SCHEDULE O FOR MORE DETAILS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CURATORIAL DEPARTMENTS, INCLUDING OPERATION OF THE CLOISTERS, CONSERVATION, CATALOGUING, AND SCHOLARLY PUBLICATIONS (INCLUDES FELLOWSHIP AWARDS AND TRAVEL STIPENDS IN THE AMOUNT OF $2,561,795) - SEE SCHEDULE O FOR MORE INFORMATION
ACQUISITIONS AND SALES OF ART - SEE SCHEDULE O FOR MORE INFORMATION
EDUCATION PROGRAMS AND MUSEUM LIBRARIES - SEE SCHEDULE O FOR MORE INFORMATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lauren A Meserve SVP & Chief Investment Officer | Officer | 35 | $1,491,038 |
Daniel H Weiss President, Ceo, Ex-Off. Truste | OfficerTrustee | 35 | $1,365,424 |
Max Hollein Marina Kellen French Director | OfficerTrustee | 35 | $1,329,783 |
Clyde B Jones III Svp, Institutional Advancement | Officer | 35 | $567,022 |
Keith R Christiansen Chairman,euro Painting To 7/21 | 35 | $554,555 | |
Jameson Kelleher Svp, Fin & Ops, Cfo, Treasurer | Officer | 35 | $536,881 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Skanska Usa Building Inc Construction Manager | 6/29/22 | $26,866,765 |
Beyer Blinder Belle Architects Architecture Service | 6/29/22 | $4,347,191 |
Shawmut Design And Construction Construction Manager | 6/29/22 | $2,373,182 |
Seibold Security Inc Security Systems | 6/29/22 | $1,278,599 |
Atrium Staffing Llc Temporary Staffing | 6/29/22 | $1,271,691 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $26,169,520 |
| Fundraising events | $41,560,706 |
| Related organizations | $0 |
| Government grants | $21,060,909 |
| All other contributions, gifts, grants, and similar amounts not included above | $218,749,787 |
| Noncash contributions included in lines 1a–1f | $11,629,887 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $307,540,922 |
| Total Program Service Revenue | $11,654,821 |
| Investment income | $54,477,434 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $14,790 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $242,117,830 |
| Net Income from Fundraising Events | -$10,358,291 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$367,469 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $653,501,924 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,011,529 |
| Grants and other assistance to Foreign Orgs/Individuals | $45,251 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $10,221,499 |
| Compensation of current officers, directors, key employees. | $5,969,341 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $121,142,689 |
| Pension plan accruals and contributions | $2,889,396 |
| Other employee benefits | $50,969,237 |
| Payroll taxes | $8,930,395 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,520,064 |
| Fees for services: Accounting | $271,241 |
| Fees for services: Lobbying | $73,962 |
| Fees for services: Fundraising | $120,968 |
| Fees for services: Investment Management | $10,842,868 |
| Fees for services: Other | $12,456,198 |
| Advertising and promotion | $7,073,296 |
| Office expenses | $20,103,692 |
| Information technology | $4,730,253 |
| Royalties | $0 |
| Occupancy | $5,876,225 |
| Travel | $1,499,293 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $332,721 |
| Interest | $13,000,355 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $48,168,753 |
| Insurance | $1,716,189 |
| All other expenses | $1,737,439 |
| Total functional expenses | $418,756,869 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $68,754,668 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $151,726,397 |
| Accounts receivable, net | $6,099,391 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $9,431,661 |
| Prepaid expenses and deferred charges | $5,783,720 |
| Net Land, buildings, and equipment | $379,685,418 |
| Investments—publicly traded securities | $2,893,307,068 |
| Investments—other securities | $1,814,448,391 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $44,663,762 |
| Total assets | $5,373,900,476 |
| Accounts payable and accrued expenses | $90,769,668 |
| Grants payable | $0 |
| Deferred revenue | $6,889,177 |
| Tax-exempt bond liabilities | $150,806,512 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $14,817,156 |
| Unsecured mortgages and notes payable | $247,751,691 |
| Other liabilities | $144,383,507 |
| Total liabilities | $655,417,711 |
| Net assets without donor restrictions | $1,328,483,721 |
| Net assets with donor restrictions | $3,389,999,044 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,373,900,476 |
Grants Recieved
Over the last fiscal year, we have identified 29 grants that The Metropolitan Museum Of Art has recieved totaling $574,440.
| Awarding Organization | Amount |
|---|---|
Gray Foundation Cohoes, NY PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION. | $200,000 |
William And Lynda Steere Foundation Westport, CT PURPOSE: BUDGET | $150,000 |
Kaplen Brothers Fund Inc New York, NY PURPOSE: FOR METLIVEARTS | $50,000 |
Epstein Philanthropies New York, NY PURPOSE: GENERAL PURPOSES | $50,000 |
Favrot Fund Houston, TX PURPOSE: THE MUSEUM COLLECTS, CONSERVES, AND EXHIBITS THE VISUAL ARTS, SUPPORTS RESEARCH, AND PROMOTES EDUCATION IN VISUAL CULTURES AROUND THE GLOBE AND ACROSS HISTORY. THE PURPOSE OF THE GRANT IS TWOFOLD: (1) $30,000 TO SUPPORT THE METS ACCESS PROGRAMS FOR VISITORS WITH DISABILITIES; AND (2) $15,000 FOR EDUCATIONAL PROGRAMMING IN CONJUNCTION WITH THE LIVES OF THE GODS: DIVINITY IN MAYA ART (NOVEMBER, 2022). | $45,000 |
Hohmann Foundation New York, NY PURPOSE: UNRESTRICTED SUPPORT OF THE ORGANZIATION'S EXEMPT PURPOSE | $12,000 |
Endowment Analysis
| Beg. Balance | $4,348,589,376 |
| Earnings | -$174,720,844 |
| Admin Expense | $5,819,384 |
| Net Contributions | $34,311,991 |
| Other Expense | $131,177,365 |
| Grants | $3,368,476 |
| Ending Balance | $4,067,815,298 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Metropolitan Museum Of Art New York, NY | $5,373,900,476 | $653,501,924 |
Museum Of Modern Art New York, NY | $2,699,458,083 | $251,623,479 |
Museum Of Fine Arts Boston, MA | $1,234,619,782 | $175,070,799 |
Whitney Museum Of American Art New York, NY | $937,771,000 | $113,143,000 |
Philadelphia Museum Of Art Philadelphia, PA | $1,255,022,756 | $116,812,968 |
Solomon R Guggenheim Foundation New York, NY | $240,294,871 | $73,166,662 |
Brooklyn Institute Of Arts And Sciences Brooklyn, NY | $388,418,074 | $82,546,120 |
Sterling & Francine Clark Art Inst Williamstown, MA | $670,367,352 | $8,296,004 |
Frick Collection New York, NY | $548,300,043 | $37,986,909 |
Barnes Foundation Philadelphia, PA | $223,515,679 | $21,249,120 |
Isabella Stewart Gardner Museum Inc Boston, MA | $347,979,013 | $30,352,820 |
Buffalo Fine Arts Academy Buffalo, NY | $293,134,468 | $30,844,940 |