Museum of Modern Art

Analysis

Museum of Modern Art is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in December 1952, 74 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Museum of Modern Art reported income of $236.7m and spending of $280.7m, spending 119% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $444.0m to $236.7m (-47%), an average of -15% a year. The sharpest change came in the year to June 2020, when income dropped by 41%. Over the whole period it spent 89% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Museum of Modern Art sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 99th percentile within NY. Charities of a similar size with the same main cause include Lincoln Center for the Performing Arts Inc ($235.1m), Educational Media Foundation ($242.2m) and The Aspen Institute Inc ($232.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 46% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $13.3m (4.8% of expenses). Other salaries and wages came to $67.1m. At year end it held assets of $2.49bn against liabilities of $376.1m, net assets of $2.11bn. It reported 1,045 employees.