Overview
What is Museum Of Fine Arts?
The Museum of Fine Arts in Boston, Massachusetts, is a nonprofit institution renowned for preserving and showcasing esteemed art collections. By providing diverse audiences with opportunities to engage directly with these works of art, the Museum aims to foster curiosity and deepen the public's understanding and appreciation of the visual world. The retail operations contribute to this mission by offering an extensive selection of merchandise related to the Museum's collections and special exhibitions.
Official website here: www.mfa.org
What are the reviews and ratings of this charity?
Charity Navigator rating: 92%, Four-Star out of Four Star rating.
The Museum Of Fine Arts has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and financial health. With a score of 92%, the organization demonstrates well-managed operations, solid governance, and a high level of transparency regarding its financial practices. The majority of its board members are independent, which enhances its oversight and reduces potential conflicts of interest.
Financially, the museum shows a robust program expense ratio of 76.95%, indicating that a significant portion of its budget is allocated towards its core mission rather than administrative costs. Additionally, its fundraising efficiency is commendable at just $0.05 per dollar raised, showcasing effective resource management in fundraising efforts. The organization also maintains a low liabilities to assets ratio of 11.84%, which suggests a stable financial footing.
While the Museum Of Fine Arts displays strong fiscal responsibility and governance, continued vigilance will be essential to maintain and build on this success. Feedback from users and stakeholders typically highlights satisfaction with the museum's programming and access, although there may be occasional mentions of concerns over pricing and accessibility for certain community segments. Overall, the museum is recognized as a trustworthy and effective nonprofit in the arts sector.
This AI summary has been generated from information found on Charity Navigator.
Is Museum Of Fine Arts legitimate?
Museum Of Fine Arts is a legitimate nonprofit organization registered as a 501(c)(3) entity. Museum Of Fine Arts submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $3,809,607
Professional Fundraising Fees: $0
Other Salaries and Wages: $36,070,237
For more financial information, click here
Official website here: www.mfa.org
What is the mission statement of Museum Of Fine Arts?
The Museum of Fine Arts is committed to preserving and showcasing renowned collections of art. It strives to cater to a diverse audience, fostering curiosity and enhancing public comprehension and appreciation of the visual world through direct interactions with artistic pieces. The institution goes beyond just housing these collections; it aims to engage and serve a broad range of people through their encounters with art. The retail operations of the Museum contribute to its educational mission by offering merchandise related to its collections and exhibitions.
Official website here: www.mfa.org
What is the revenue of Museum Of Fine Arts?
Museum Of Fine Arts's revenue in 2024 was $157,680,166.
Official website here: www.mfa.org
Who are the executives of Museum Of Fine Arts and what are their salaries?
The average compensation at Museum Of Fine Arts during 2024 was $48,457. There are 823 employees and 350 volunteers at Museum Of Fine Arts.
Here are 58 key members and their salaries:
- Compensation: $1,037,098
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- Other: $46,415
- Compensation: $445,100
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- Other: $50,374
- Compensation: $446,806
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- Compensation: $382,212
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- Other: $20,344
- Compensation: $263,267
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- Compensation: $224,231
- Related: $0
- Other: $38,238
- Compensation: $213,905
- Related: $0
- Other: $42,439
- Compensation: $218,522
- Related: $0
- Other: $35,782
- Compensation: $227,022
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- Other: $27,213
- Compensation: $211,163
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- Compensation: $219,389
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- Other: $20,364
- Compensation: $203,846
- Related: $0
- Other: $9,036
- Compensation: $137,625
- Related: $0
- Other: $12,001
- Compensation: $96,857
- Related: $0
- Other: $7,529
- Compensation: $48,646
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Official website here: www.mfa.org
Where can I find the form 990 for Museum Of Fine Arts?
Museum Of Fine Arts's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.mfa.org
Learn more at the official website: www.mfa.org
Mission Statement of Museum Of Fine Arts
The Museum of Fine Arts, a renowned cultural institution, is committed to preserving and showcasing preeminent collections of art. It strives to engage a diverse audience by offering direct encounters with artworks, encouraging inquiry, and enhancing public appreciation of the visual world.
Situated in the heart of the art scene, the Museum of Fine Arts houses an extensive collection of art pieces that span various genres, styles, and time periods. The organization's mission is not limited to preservation; it also aspires to serve a wide array of individuals by providing opportunities for unique experiences with art. These encounters can serve as catalysts for deeper understanding and appreciation of the intricacies of the visual world.
The Museum of Fine Arts' retail operations adds an educational dimension to the organization by offering a wide selection of merchandise related to its collections and special exhibitions. These offerings contribute to the Museum's exempt educational purpose, ensuring a comprehensive experience for visitors. Through its collections, programs, and retail operations, the Museum of Fine Arts continues to enrich the lives of countless individuals, fostering a deeper connection to the arts and the world around them.
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Impact
October, 2024
The Museum of Fine Arts serves a vital role in enriching the cultural landscape of Boston and beyond through its extensive collections and commitment to engagement with the public. By housing and preserving renowned artworks, it provides a space where individuals can directly encounter and interact with pieces that span various periods and styles. This fosters an environment of inquiry, encouraging visitors to deepen their understanding and appreciation of the visual arts.
Through exhibitions, educational programs, and community outreach, the Museum actively works to demystify art and make it accessible to a diverse audience. It plays a crucial role in cultural education, offering insights into the historical and social contexts of the artworks. The Museum's retail operations further enhance this experience, providing visitors with tangible connections to the exhibitions and collections, thus supporting the broader mission of educational enrichment.
Moreover, the Museum invites dialogue, reflection, and inspiration, making art a part of everyday life for countless people. Its impact extends beyond the walls of the institution, influencing community engagement, cultural tourism, and the overall appreciation of art as a fundamental aspect of human experience.
This information is meant to be a general summary of Museum Of Fine Arts. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $7,637,178
- Program Service Revenue: $18,243,104
- Gross Receipts: $425,849,579
Assets and Liabilities:
- Total Assets: $1,324,479,765
- Total Liabilities: $150,288,058
- Net Assets: $1,174,191,707
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ADMISSION
Revenue
$10,634,005
OTHER MISC. PROGRAM SERVICES
Revenue
$3,369,537
EDUCATION PROGRAM REVENUE
Revenue
$2,046,673
RESTAURANT FOOD SERVICES
Revenue
$1,760,282
EXHIBITION
Revenue
$432,607
Organization Details
Founding Year
1870
Principal Officer
Catherine Vandenabeele
Website
www.mfa.orgNTEE Category
Code: A510 - Arts
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