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Arts, Culture, Humanities : Museums

The Minneapolis Institute of Arts

Inspiring wonder through the power of art

four stars

90.17

2400 Third Avenue South Minneapolis, MN 55404
tel: (888) 642-2787   Web Site
EIN: 41-0693915

Board Leadership
David Wilson
Board Chair

CEO
Patricia Grazzini
Interim Director

  Score
(out of 100)
Rating
Overall Score & Rating 90.17 four stars
  Financial 91.52 four stars
  Accountability & Transparency 89.00 three stars
This rating was published 09/03/2019 and includes data from FY2018, the most recent 990 received at that time.

The Minneapolis Institute of Arts (MIA) enriches the community by collecting, preserving, and making accessible outstanding works of art from the world's diverse cultures. The MIA is one of the leading comprehensive fine art museums in the country. In a beautiful landmark building near downtown Minneapolis, the museum houses more than 80,000 works of arts, representing more than 5,000 years of world art and culture. The MIA offers visitors a broad range of artistic experiences from special exhibitions, classes and workshops to the historic Purcell-Cutts House - a masterpiece of Prairie School design. Central to the museum's values is a fundamental belief in accessibility. For this reason, the museum maintains a free general admission policy, annually welcoming approximately 500,000 visitors and serving more than 200,000 K-12 students.

The Minneapolis Institute of Arts (MIA) enriches the community by collecting, preserving, and making accessible outstanding works of art from the world's diverse cultures. The MIA is one of the leading comprehensive fine art museums in the country. In a beautiful landmark building near downtown Minneapolis, the museum houses more than 80,000 works of arts, representing more than 5,000 years of world art and culture. The MIA offers visitors a broad range of artistic experiences from special exhibitions, classes and workshops to the historic Purcell-Cutts House - a masterpiece of Prairie School design. Central to the museum's values is a fundamental belief in accessibility. For this reason, the museum maintains a free general admission policy, annually welcoming approximately 500,000 visitors and serving more than 200,000 K-12 students.

Impact Information

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Financial

four stars

91.52

Accountability & Transparency

three stars

89.00

This rating was published 09/03/2019 and includes data from FY2018, the most recent 990 received at that time.
Overall Rating Chart
  Program Expenses
(Percent of the charity's total expenses spent on the programs
and services it delivers)
81.1%
  Administrative Expenses 13.6%
  Fundraising Expenses 5.1%
  Fundraising Efficiency $0.08
  Working Capital Ratio (years) 3.63
  Program Expenses Growth 0.1%
  Liabilities to Assets 3.5%
All data for Financial Performance Metrics calculations was provided by The Minneapolis Institute of Arts on recent 990s filed with the IRS.
All data for Financial Performance Metrics calculations was provided by The Minneapolis Institute of Arts on recent 990s filed with the IRS.

Highly Rated

Charity Name & State Overall Score Overall Rating
The Minneapolis Institute of Arts (MN) 90.17 four stars
Timken Museum of Art (CA) 87.69 three stars
Washington County Museum of Fine Arts (MD) 91.69 four stars
National Gallery of Art (DC) 88.54 three stars
The Baltimore Museum of Art (MD) 89.36 three stars

Compare These Charities (Highly Rated)

REVENUE  
Contributions  
   Contributions, Gifts & Grants $12,219,772
   Federated Campaigns $0
   Membership Dues $1,618,856
   Fundraising Events $1,019,022
   Related Organizations $0
   Government Grants $12,673,686
Total Contributions $27,531,336
   Program Service Revenue $2,955,680
Total Primary Revenue $30,487,016
   Other Revenue $15,015,219
TOTAL REVENUE $45,502,235
   
EXPENSES  
   Program Expenses $34,954,930
   Administrative Expenses $5,896,073
   Fundraising Expenses $2,116,235
TOTAL FUNCTIONAL EXPENSES $42,967,238
   
Payments to Affiliates $0
Excess (or Deficit) for the year $2,534,997
   
Net Assets $327,901,324

Program names and associated costs are listed for the top programs as reported on the charity's most recently filed Form 990. The top programs displayed will include the largest three programs, or those programs covering at least 60% of the charity's total expenses, whichever comes first.

Program Name Amount Spent % of Program Expenses
Exhibitions $19,439,252 55.6%
Attendance $5,838,274 16.7%
Acquisitions $5,783,541 16.5%

Ratings History
The Minneapolis Institute of Arts has received 4 consecutive 4-star ratings from Charity Navigator.

Form 990 FYE Date Published Overall Score Overall Rating
CN 2.1
2018-06 09/03/2019 90.17 four stars
2017-06 02/01/2019 92.05 four stars
2016-06 04/01/2018 91.57 four stars
2015-06 12/01/2016 91.45 four stars
2014-06 06/01/2016 88.91 three stars
 
CN 2.0
2014-06 11/01/2015 86.93 three stars
2013-06 12/22/2014 88.46 three stars
2012-06 11/01/2013 88.32 three stars
2011-06 10/01/2012 92.25 four stars
2010-06 09/20/2011 91.94 four stars
 
CN 1.0
2009-06 11/24/2010 79.41 two stars
2008-06 11/01/2009 80.89 three stars
2007-06 05/01/2009 80.89 three stars
2006-06 05/01/2008 87.76 three stars
2005-06 07/01/2006 86.64 three stars
2004-06 11/01/2005 88.14 three stars
2003-06 08/01/2004 89.52 three stars
2002-06 06/09/2003 98.37 four stars
2001-06 10/15/2002 94.06 four stars

The data displayed on this tab is provided by the IRS in the form of Publication 78 and the Business Master File (BMF).

EIN 41-0693915
Name in IRS Master File MINNEAPOLIS SOCIETY OF FINE ARTS
NTEE Code A51
NTEE Classification Art Museums
NTEE Type Arts, Culture and Humanities
Classification Charitable Organization
Subsection 501(c)(3)  (View the list of codes)
Activities (46) Private school
(30) School, college, trade school, etc.
(59) Other school related activities
Foundation Status Organization that normally receives no more than one-third of its support from gross investment income and unrelated business income and at the same time more than one-third of its support from contributions, fees, and gross receipts related to exempt purposes.  509(a)(2)
Deductibility Contributions are deductible
Affiliation Independent - the organization is an independent organization or an independent auxiliary (i.e., not affiliated with a National, Regional, or Geographic grouping of organizations).
Group Name [Not Applicable]
Ruling Date December, 1967
Filing Requirement 990 (all other) or 990EZ return
Fiscal Year End June
IRS Forms 990
(provided courtesy of Foundation Center)
(Log In or Register Now to View Forms 990!)
  • June, 2017
  • June, 2016
  • June, 2015
  • June, 2014
  • June, 2013
Compensation % of Expenses Paid to Title
$577,484 1.34% Kaywin Feldman President
Other Salaries of Note
$845,617 1.96% Patricia Grazzini Assistant Treasurer

Highly Rated

Charity Name & State Overall Score Overall Rating
The Minneapolis Institute of Arts (MN) 90.17 four stars
Santa Barbara Museum of Art (CA) 93.82 four stars
Reynolda House Museum of American Art (NC) 89.12 three stars
The Cleveland Museum of Art (OH) 88.50 three stars
San Antonio Museum of Art (TX) 88.54 three stars

Compare These Charities (Highly Rated)

This charity has an official representative registered with Charity Navigator.

Charity Contact Info

The Minneapolis Institute of Arts
2400 Third Avenue South
Minneapolis, MN 55404
tel: (888) 642-2787
fax: (612) 870-3004
EIN: 41-0693915

Visit Web Site

Board Leadership

David Wilson
Board Chair

CEO

Patricia Grazzini
Interim Director

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