Pierpont Morgan Library, operating under the name The Morgan Library & Museum, is located in New York, NY. The organization was established in 1925. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. As of 03/2022, Morgan Library & Museum employed 199 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Morgan Library & Museum 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 03/2022, Morgan Library & Museum generated $59.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $26.1m during the year ending 03/2022. While expenses have increased by 0.9% 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
MUSEUM AND INDEPENDENT RESEARCH LIBRARY (SEE SCHEDULE O)HOME TO ONE OF THE WORLD'S FOREMOST COLLECTIONS OF MANUSCRIPTS, RARE BOOKS, MUSIC, DRAWINGS, AND ANCIENT AND OTHER WORKS OF ART, THE MORGAN LIBRARY & MUSEUM OFFERS VISITORS A STIMULATING RANGE OF EXHIBITIONS AND PUBLIC PROGRAMS WHILE PROVIDING RESEARCHERS WITH ACCESS TO ITS COLLECTION, BOTH ON SITE AND ELECTRONICALLY.
Describe the Organization's Program Activity:
CURATORIAL: THE MORGAN LIBRARY & MUSEUM ("THE MORGAN") OCCUPIES A MIDTOWN MANHATTAN CAMPUS COMPRISED OF THREE LANDMARKED BUILDINGS THAT ARE JOINED BY PAVILIONS CONSTRUCTED OF STEEL-AND-GLASS PANELS DESIGNED BY RENOWNED ARCHITECT RENZO PIANO. THE MORGAN HOUSES ONE OF THE WORLD'S GREATEST COLLECTIONS OF ARTISTIC, LITERARY, MUSICAL, AND HISTORICAL WORKS. INCLUDED IN ITS HOLDINGS ARE ORIGINAL SCORES OF MOZART AND BEETHOVEN, DRAWINGS BY REMBRANDT AND RUBENS, MEDIEVAL AND RENAISSANCE WORKS, THREE GUTENBERG BIBLES, LITERARY MANUSCRIPTS BY DICKENS AND TWAIN, AND FIVE-THOUSAND-YEAR-OLD CARVINGS FROM THE COUNTRIES OF ANCIENT WESTERN ASIA. THE MORGAN RECORDED 140,093 VISITORS OVER THE FISCAL YEAR, PRIMARILY FOR A WIDE VARIETY OF CHANGING EXHIBITIONS (CONTINUED ON SCHEDULE O)ENCOMPASSING WORKS FROM THE MORGAN'S PERMANENT COLLECTION AND FROM OTHER MUSEUMS AND LIBRARIES IN THE U.S. AND ABROAD. EXHIBITIONS DURING FISCAL YEAR 2022 INCLUDED "WOODY GUTHRIE: PEOPLE ARE THE SONG," "ONE HUNDRED YEARS OF JAMES JOYCE'S ULYSSES, AND "SHE WHO WROTE: ENHEDUANNA AND WOMEN OF MESOPOTAMIA, CA. 3400-2000 B.C." . THE MORGAN'S CURATORS PLAN THE EXHIBITIONS, OVERSEE THE PERMANENT COLLECTION, PREPARE EXHIBITION AND COLLECTION-RELATED CATALOGS, ORGANIZE SYMPOSIA, HOST GRADUATE SEMINARS, AND PROVIDE RESEARCH AND OTHER SERVICES TO THE SCHOLARLY COMMUNITY.THE EXTRAORDINARY GROUP OF MEDIEVAL AND RENAISSANCE MANUSCRIPTS; PRINTED BOOKS AND BINDINGS; LITERARY, HISTORICAL, AND MUSIC MANUSCRIPTS; DRAWINGS AND PRINTS; AND ANCIENT CYLINDER SEALS THAT J. PIERPONT MORGAN BROUGHT TOGETHER WERE AMONG THE FIRST IMPORTANT COLLECTIONS OF THEIR KIND IN AMERICA AND FORM WHAT IS TODAY THE CORE OF THE MORGAN'S HOLDINGS. (THE COLLECTION NOW INCLUDES PHOTOGRAPHY AND MODERN AND CONTEMPORARY DRAWINGS AS WELL.) IN OVERALL QUALITY AND IMPORTANCE, THESE COLLECTIONS ARE AMONG THE FINEST IN THE WORLD, DISTINGUISHED BY THE HIGH PERCENTAGE OF ITEMS THAT ARE UNIQUE OR EXCEPTIONALLY RARE. ONE OF ONLY A HANDFUL OF AMERICAN INSTITUTIONS DEVOTED TO THESE SPECIALIZED AREAS, THE MORGAN MAINTAINS AN ACTIVE ACQUISITIONS PROGRAM AND NOW HOLDS SEVERAL HUNDRED THOUSAND ITEMS IN ITS COLLECTION. THE MORGAN'S DRAWING INSTITUTE IS DEVOTED TO THE INTERPRETATION, CONSERVATION, AND THEORY OF OLD MASTER AND MODERN DRAWING WITH THE GOAL OF STIMULATING NEW LINES OF INVESTIGATION AND DISCOURSE. THE DRAWING INSTITUTE SUPPORTS RESEARCH THROUGH ANNUAL FELLOWSHIPS; PUBLICATIONS; SMALL, FOCUSED EXHIBITIONS; AND AN ONGOING SERIES OF SYMPOSIA, SEMINARS, AND LECTURES.
LIBRARY AND MUSEUM SERVICES: THE MORGAN LIBRARY & MUSEUM IS ONE OF NINETEEN INDEPENDENT RESEARCH LIBRARIES IN THE UNITED STATES AND, AS SUCH, MAKES ITS COLLECTIONS AVAILABLE TO QUALIFIED RESEARCHERS FOR STUDY ON-SITE IN THE SHERMAN FAIRCHILD READING ROOM AND THE DRAWING STUDY CENTER. AN ONLINE CATALOG OF THE COLLECTIONS IS ACCESSIBLE AT WWW.THEMORGAN.ORG AND ASSISTS RESEARCHERS BOTH ON-AND OFF-SITE. ACTIVE DIGITIZATION AND PUBLICATION PROGRAMS HELP TO EXTEND THE REACH OF THE MORGAN'S SCHOLARLY SERVICES AND SUPPORT STUDY OF THE COLLECTIONS.THE MORGAN HAS HAD PROFESSIONAL PAPER AND BOOK CONSERVATION FACILITIES SINCE THE 1950S, WHEN THEY WERE AMONG THE FIRST SUCH LABS IN THE UNITED STATES. (CONTINUED ON SCHEDULE O)THE MORGAN'S CONSERVATION FACILITIES WERE DRAMATICALLY ENHANCED WITH THE 2002 COMPLETION OF THE THAW CONSERVATION CENTER. THE MORGAN'S CONSERVATORS OVERSEE THE PRESERVATION OF THE COLLECTIONS AND ALSO UNDERTAKE SURVEYS AND TREATMENT PROJECTS OF DISCRETE COLLECTION AREAS. THE COLLECTIONS CONSIST ALMOST ENTIRELY OF WORKS ON PAPER AND RELATED POROUS SUPPORTS (VELLUM, PARCHMENT, PAPYRI), AND THE CONSERVATORS HAVE DEVELOPED SPECIAL EXPERTISE IN THE CONSERVATION, RESTORATION, AND REPAIR OF SUCH OBJECTS. BOTH A WORKING AND TEACHING FACILITY, THE THAW CENTER RECEIVES REQUESTS FOR ASSISTANCE FROM INSTITUTIONS IN THE UNITED STATES AND ABROAD. IT OFFERS FELLOWSHIPS IN CONSERVATION TECHNIQUES AND PRACTICES.
PUBLIC PROGRAMS: IN FISCAL YEAR 2022, 4,718 PEOPLE ATTENDED A RANGE OF VIRTUAL AND IN-PERSON LECTURES, FAMILY PROGRAMS, COLLEGE PROGRAMS, AND WORKSHOPS, MANY BY RENOWNED ARTISTS AND EXPERTS IN THEIR FIELD. THIS ACTIVE PROGRAM OF LECTURES AND GALLERY TALKS FOCUSED ON THE MORGAN'S COLLECTIONS AND EXHIBITIONS. AN ADDITIONAL 6,045 PEOPLE VIEWED WORLD CLASS PERFORMERS IN IN-PERSON AND STREAMING CONCERTS PRESENTED BY THE MORGAN. DOCENTS GAVE VIRTUAL PRESENTATIONS THAT REACHED OVER 2,049 PARTICIPANTS. THE MORGAN'S SCHOOL PROGRAMS SERVED 2,940 K-12 STUDENTS OF DIVERSE COMMUNITIES.
MUSEUM PUBLICATIONS AND RETAIL: THE MORGAN MAINTAINS AN ACTIVE PUBLICATIONS PROGRAM, PRODUCING CATALOGUES RELATED TO ITS EXHIBITIONS AND ITEMS IN ITS PERMANENT COLLECTIONS. THESE CATALOGUES ARE MADE AVAILABLE TO THE PUBLIC, ALONG WITH OTHER EXHIBITION AND COLLECTION-RELATED MERCHANDISE, THROUGH THE MORGAN'S ON-SITE RETAIL SHOP AND THROUGH THE MORGAN'S WEBSITE.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Colin B Bailey Director | OfficerTrustee | 35 | $620,070 |
Kristina W Stillman Dir. Of Fin./adm & Asst. Treasurer | Officer | 35 | $289,653 |
Jessica B Ludwig Deputy Dir.& Asst.secretary | Officer | 35 | $232,636 |
Lauren Stakias Dir. Of Institutional Advancement | 35 | $231,413 | |
Mary Schlitzer Controller | 35 | $169,958 | |
John J Marciari Charles W Engelhard Curator & Dept.head | 35 | $163,757 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Sciame Construction Llc Construction Services | 3/30/22 | $2,346,315 |
Allied Security Holdings Llc Security Officers | 3/30/22 | $326,275 |
John O'hara Company Inc Construction Services | 3/30/22 | $2,258,851 |
Masterpiece International Ltd Fine Art Transporter | 3/30/22 | $193,121 |
Laplaca Cohen Advertising Inc Advertising And Marketing | 3/30/22 | $406,386 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $2,011,906 |
Fundraising events | $845,953 |
Related organizations | $0 |
Government grants | $2,158,381 |
All other contributions, gifts, grants, and similar amounts not included above | $8,726,104 |
Noncash contributions included in lines 1a–1f | $1,280,982 |
Total Revenue from Contributions, Gifts, Grants & Similar | $13,742,344 |
Total Program Service Revenue | $2,153,988 |
Investment income | $17,252,450 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $4,250 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $25,602,364 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $397,724 |
Miscellaneous Revenue | $0 |
Total Revenue | $59,153,120 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $376,384 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $1,634,537 |
Compensation of current officers, directors, key employees. | $399,559 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $8,910,586 |
Pension plan accruals and contributions | $600,494 |
Other employee benefits | $1,386,590 |
Payroll taxes | $634,653 |
Fees for services: Management | $0 |
Fees for services: Legal | $102,547 |
Fees for services: Accounting | $64,348 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $595,906 |
Fees for services: Other | $369,875 |
Advertising and promotion | $398,792 |
Office expenses | $277,222 |
Information technology | $201,346 |
Royalties | $0 |
Occupancy | $0 |
Travel | $97,255 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $261,968 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $3,468,071 |
Insurance | $275,497 |
All other expenses | $496,137 |
Total functional expenses | $26,123,983 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $2,931,438 |
Savings and temporary cash investments | $8,549,328 |
Pledges and grants receivable | $1,748,165 |
Accounts receivable, net | $252,696 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $261,246 |
Prepaid expenses and deferred charges | $13,142,467 |
Net Land, buildings, and equipment | $86,467,679 |
Investments—publicly traded securities | $126,996,482 |
Investments—other securities | $174,341,842 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $1,640,823 |
Total assets | $416,332,166 |
Accounts payable and accrued expenses | $2,692,909 |
Grants payable | $0 |
Deferred revenue | $356,353 |
Tax-exempt bond liabilities | $14,678,622 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $3,044,898 |
Total liabilities | $20,772,782 |
Net assets without donor restrictions | $95,477,326 |
Net assets with donor restrictions | $300,082,058 |
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 | $416,332,166 |
Over the last fiscal year, we have identified 14 grants that Pierpont Morgan Library has recieved totaling $212,669.
Awarding Organization | Amount |
---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $95,550 |
Berger Collection Education Tr Denver, CO PURPOSE: GRANT FOR SUPPORT | $30,000 |
The Annenberg Foundation Conshohocken, PA PURPOSE: GENERAL OPERATING SUPPORT | $20,000 |
Jewish Communal Fund New York, NY PURPOSE: GENERAL SUPPORT | $18,900 |
S & L Marx Foundation Inc Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $12,500 |
Edward John And Patricia Rosenwald Foundation New York, NY PURPOSE: GENERAL SUPPORT | $10,000 |
Beg. Balance | $299,100,018 |
Earnings | $8,110,937 |
Net Contributions | $3,003,000 |
Other Expense | $11,074,148 |
Ending Balance | $299,139,807 |
Organization Name | Assets | Revenue |
---|---|---|
Carnegie Library Of Pittsburgh Pittsburgh, PA | $129,763,715 | $43,541,952 |
Pierpont Morgan Library New York, NY | $416,332,166 | $59,153,120 |
Rochester Public Library Rochester, NY | $13,709,813 | $21,920,405 |
Suffolk Cooperative Library System Bellport, NY | $18,374,423 | $17,112,722 |
Smithtown Library Nesconset, NY | $38,994,883 | $15,642,317 |
Allegheny County Library Assoc Pittsburgh, PA | $1,615,297 | $12,970,956 |
Buffalo & Erie County Public Library Buffalo, NY | $4,920,940 | $11,835,935 |
The Free Library Of Philadelphia Philadelphia, PA | $55,485,474 | $14,690,366 |
Massachusetts Library System Inc Marlborough, MA | $7,404,141 | $11,793,761 |
Ferguson Library Stamford, CT | $21,910,876 | $11,228,846 |
Proprietors Of The Boston Athenaeum Boston, MA | $130,203,809 | $11,281,803 |
Nassau Library System Uniondale, NY | $13,078,101 | $10,576,238 |