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Arts, Culture, Humanities : Museums

The Minneapolis Institute of Arts

Inspiring wonder through the power of art

89.51

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

Board Leadership
Mary Ingebrand-Pohlad
Board Chair

CEO
Katie Luber
Director and President

Charity Navigator

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  Score
(out of 100)
Rating
Overall Score & Rating 89.51
  Financial 90.05
  Accountability & Transparency 89.00
This rating was published 03/01/2022 and includes data from FY2020, 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.

Financial

90.05

Accountability & Transparency

89.00

This rating was published 03/01/2022 and includes data from FY2020, 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)
80.2%
  Administrative Expenses 14.6%
  Fundraising Expenses 5.1%
  Fundraising Efficiency $0.08
  Working Capital Ratio (years) 4.46
  Program Expenses Growth -2.1%
  Liabilities to Assets 3.6%
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) 89.51
Museum of Wisconsin Art (WI) 89.76
The Cummer Museum of Art & Gardens (FL) 91.43
Washington County Museum of Fine Arts (MD) 91.89
Newfields (IN) 90.43

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REVENUE  
Contributions  
   Contributions, Gifts & Grants $9,872,481
   Federated Campaigns $0
   Membership Dues $1,561,443
   Fundraising Events $468,170
   Related Organizations $0
   Government Grants $14,539,755
Total Contributions $26,441,849
   Program Service Revenue $3,028,366
Total Primary Revenue $29,470,215
   Other Revenue $3,917,581
TOTAL REVENUE $33,387,796
   
EXPENSES  
   Program Expenses $31,831,289
   Administrative Expenses $6,259,507
   Fundraising Expenses $2,317,116
TOTAL FUNCTIONAL EXPENSES $40,407,912
   
Payments to Affiliates $0
Excess (or Deficit) for the year $-7,020,116
   
Net Assets $316,542,565

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 $18,999,082 59.7%
Attendance $6,158,612 19.3%
Educational Outreach and Public Programs $3,979,157 12.5%

Ratings History

Form 990 FYE Date Published Overall Score Overall Rating
CN 2.1
2020-06 03/01/2022 89.51
2019-06 05/01/2021 92.19
2018-06 09/03/2019 90.17
2017-06 02/01/2019 92.05
2016-06 04/01/2018 91.57
2015-06 12/01/2016 91.45
2014-06 06/01/2016 88.91
 
CN 2.0
2014-06 11/01/2015 86.93
2013-06 12/22/2014 88.46
2012-06 11/01/2013 88.32
2011-06 10/01/2012 92.25
2010-06 09/20/2011 91.94
 
CN 1.0
2009-06 11/24/2010 79.41
2008-06 11/01/2009 80.89
2007-06 05/01/2009 80.89
2006-06 05/01/2008 87.76
2005-06 07/01/2006 86.64
2004-06 11/01/2005 88.14
2003-06 08/01/2004 89.52
2002-06 06/09/2003 98.37

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
$513,864 1.27% Patricia Grazzini Interim Director, Deputy Director

Highly Rated

Charity Name & State Overall Score Overall Rating
The Minneapolis Institute of Arts (MN) 89.51
Catalina Island Museum (CA) 92.74
The Museum of Fine Arts, Houston (TX) 90.09
San Diego Museum of Art (CA) 85.04
Mattatuck Museum (CT) 90.87

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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

Mary Ingebrand-Pohlad
Board Chair

CEO

Katie Luber
Director and President

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