Overview
What is The Detroit Institute Of Arts?
The Detroit Institute of Arts (DIA) is a renowned encyclopedic museum based in Detroit, Michigan, with a US address at 5200 Woodward Avenue in the zip code 48202. Established with a commitment to stewardship, the DIA ensures the long-term care and preservation of its extensive art collection. Through innovative gallery installations, world-class exhibitions, scholarly research, and publications, the DIA provides access to works of art for visitors. The institution enhances its collection by purchasing objects that elevate artistic quality and maintain relevance to its communities, thanks to both restricted funds and donations. In the fiscal year 2022, the DIA made acquisitions worth $5,430,336 and received $1,331,832 in gifts. The DIA's mission is to create immersive experiences that help each visitor discover personal meaning in art and fosters connections between people. As of the provided information, the organization currently employs 418 individuals.
Official website here: www.dia.org
What are the reviews and ratings of this charity?
Charity Navigator rating: 100%, Four-Star out of Four Star rating.
The Detroit Institute of Arts has achieved an impressive Four-Star rating, reflecting its strong performance in accountability and finance, as well as effective leadership and adaptability. With a perfect score in both categories, the organization demonstrates a robust commitment to transparency and responsible financial management. This is underscored by its 100% independent board members and a well-structured audit and oversight committee.
The institute maintains a healthy financial profile, evidenced by a low liabilities-to-assets ratio and a significant program expense ratio, indicating that a large portion of its resources is directed toward its mission-driven programs. Additionally, the organization has established comprehensive policies around conflict of interest, whistleblower protection, and document retention, further reinforcing its commitment to ethical governance.
Despite these strengths, there is a noted opportunity for the Detroit Institute of Arts to enhance its communication about how it has adapted to recent external challenges. By sharing its experiences and adjustments, the organization could provide valuable insights into its resilience and ongoing commitment to serving the community. Overall, the institute stands out as a well-managed nonprofit dedicated to its artistic mission.
This AI summary has been generated from information found on Charity Navigator.
Is The Detroit Institute Of Arts legitimate?
The Detroit Institute Of Arts is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Detroit Institute Of 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: $2,137,015
Professional Fundraising Fees: $0
Other Salaries and Wages: $17,905,350
For more financial information, click here
Official website here: www.dia.org
What is the mission statement of The Detroit Institute Of Arts?
The Detroit Institute of Arts is dedicated to providing meaningful experiences with art for each visitor. Through stewardship, care, access, preservation, and acquisition, the institution is among the top encyclopedic museums in the United States. The DIA ensures the long-term preservation of its collection and provides access to works of art through innovative gallery installations, world-class exhibitions, scholarship, interpretation, and publications. The museum purchases objects that enhance the artistic quality of its collection and are relevant to its communities, with acquisitions totaling $5,430,336 in FY22. Additionally, the DIA acquires art objects through gifts from donors, with gifts totaling $1,331,832 in FY22.
Official website here: www.dia.org
Who is the CEO of The Detroit Institute Of Arts?
Salvador Salort-Pons is the CEO of The Detroit Institute Of Arts The CEO's salary of The Detroit Institute Of Arts is $547,740 and their total compensation is $582,411.
Official website here: www.dia.org
What is the revenue of The Detroit Institute Of Arts?
The Detroit Institute Of Arts's revenue in 2023 was $71,243,439.
Official website here: www.dia.org
Who are the executives of The Detroit Institute Of Arts and what are their salaries?
The average compensation at The Detroit Institute Of Arts during 2023 was $36,979. There are 542 employees and 560 volunteers at The Detroit Institute Of Arts.
Here are 63 key members and their salaries (The Detroit Institute Of Arts's CEO's salary is $547,740 and their total compensation is $582,411):
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Official website here: www.dia.org
Where can I find the form 990 for The Detroit Institute Of Arts?
The Detroit Institute Of Arts's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.dia.org
Learn more at the official website: www.dia.org
Mission Statement of The Detroit Institute Of Arts
The Detroit Institute of Arts (DIA) is committed to creating meaningful experiences for each visitor in the realm of art. This esteemed institution, recognized as one of the top encyclopedic museums in the United States, fosters personal connections to art and encourages engagement among visitors.
At the heart of DIA's endeavors lies the long-term care and preservation of its extensive collection. This commitment to stewardship is demonstrated through innovative gallery installations, world-class exhibitions, groundbreaking scholarship, insightful interpretation, and comprehensive publications. The Detroit Institute of Arts acquires art objects with the intention of enhancing the artistic quality of its collection and maintaining relevance to its communities.
Throughout the fiscal year 2022, DIA made significant acquisitions totaling $5,430,336. These acquisitions were funded by the use of restricted funds raised through donations to the museum. In addition, the museum gratefully accepts gifts from donors, which contributed an impressive $1,331,832 to its collection during the same period. The Detroit Institute of Arts continues to grow its collection, enriching the artistic landscape for its visitors and fostering a deeper appreciation for the world of art.
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Impact
October, 2024
The Detroit Institute of Arts (DIA) profoundly impacts the community and the art world by creating meaningful experiences that connect visitors to art and to one another. As one of the premier encyclopedic museums in the United States, the DIA plays a vital role in the stewardship, preservation, and access to a remarkable collection of artworks. Through innovative gallery installations and world-class exhibitions, the museum enriches the cultural landscape and offers opportunities for personal engagement with art.
The DIA's commitment to care for its collection is evident in its strategic acquisition efforts, which are supported by donations and restricted funds. In fiscal year 2022, the museum invested over $5.4 million in acquiring artworks that enhance its collection and reflect relevance to the community. Additionally, the $1.3 million received in gifts further underscores the importance of community support in broadening the museum's diverse offerings.
By emphasizing scholarship, interpretation, and public outreach, the Detroit Institute of Arts fosters a deep appreciation for the arts. The museum cultivates connections among visitors, helping them discover personal meanings in art and facilitating conversations that enhance cultural understanding. Through these efforts, the DIA not only preserves artistic heritage but also ensures that art remains an accessible and integral part of the community's identity.
This information is meant to be a general summary of The Detroit Institute Of 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 2023.
- Investment Income: $6,337,598
- Program Service Revenue: $5,877,441
- Gross Receipts: $162,447,401
Assets and Liabilities:
- Total Assets: $519,986,739
- Total Liabilities: $12,830,894
- Net Assets: $507,155,845
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LEARNING & AUDIENCE ENGAGEMENT
Revenue
$3,456,266
ENTERPRISE ACTIVITIES
Revenue
$1,291,581
MUSEUM SERVICES
Revenue
$1,035,373
STEWARDSHIP & CARE COLLECTION
Revenue
$94,221
Organization Details
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