Museum of Modern Art

“The Museum's form 990 is prepared by Grant Thornton LLP in coordination with the Museum's controller's office with input from many museum departments. It is then reviewed by Museum senior staff including the Director, the Chief Operating Officer, the Chief Financial Officer, and the General Counsel. The 990 is then presented to the Museum's Audit Committee of the Board of Trustees for review and approval. A copy of the 990 is provided to each member for the Board of Trustees electronically or in printed copy prior to filing the return. The 990 is available to the public through the Museum's website www.moma.org.”

“On an annual basis, the Museum distributes its code of conduct to all trustees and designated employees and requires that conflict of interest questionnaires be completed and returned for initial review by the office of the General Counsel and the Director of Human Resources respectively. Amongst other things, the conflict of interest questionnaire requires the responder: confirm that he or she has read and understands the code of conduct, agree to abide by it, identify whether he or she or a family member has any relationship with the Museum that may represent a conflict of interest as defined by the code and report any knowledge of a transaction which should be reported under the code, etc. When potential employee conflicts of interest are reported or identified, when necessary, an investigation is conducted to determine the facts and circumstances and recommendation of action, if warranted. Such action may include, but is not limited to, prohibiting the individual from participating in deliberations and decisions regarding the transaction in question, or taking disciplinary action, which in appropriate circumstances may include suspension or termination. The employee's supervisor is notified of an employee with identified conflicts and the action to be taken, if any. When potential trustee conflicts of interest are reported or identified, the general counsel's office makes a report to a committee of the Board of Trustees with a recommendation for action, if warranted, including but not limited to disclose to the board of trustees, prohibiting the trustee from participating in and/or voting on the transaction in question, resignation from the Board of Trustees, etc. The code of conduct further provides that the committee make a recommendation to the Chairman of the Board for decision by the board.”

“The process for determining the compensation for the museum director and certain key employees includes reviews and approval by the Board of Trustees' compensation subcommittee of the executive committee (the "committee") of the governing body, consisting of independent trustees, and not including the director or other staff members. In making its determination, the committee obtains and reviews comparability data with respect to compensation levels paid for comparable job positions obtained through the assistance of an expert compensation consultant which, in appropriate instances, includes survey data regarding compensation levels paid by similarly situated organizations for comparable employment positions, form 990 data from other leading Museums and cultural and education institutions, as well as for profit institutions which may be interested in recruiting the Museum staff. The determination, deliberation and decisions made by the committee are contemporaneously substantiated and documented in minutes of the meeting which include the committee members present and participation, the compensation terms approved, the data relied upon and how it was obtained. The committee periodically reviews resolutions and signs-off as they are presented to them. The last resolution was signed on March 7, 2025.”

“The Museum's governing documents are available for review. Conflict of interest policy, code of conduct policy, prior years audited financial statements and prior years 990 are available to the public through the Museum's website https://www.moma.org/about/documents-policies.”

“The hours disclosed for officers, key employees and highly compensated individuals is 50 hours which represents a full-time designated employee. For those listed on Part VII the hours worked, in reality, are significantly more than the standard full-time employee norm.”

“to the art of our time. The Museum aspires to be a catalyst for experimentation, learning, and creativity, a gathering place for all, and a home for artists and their ideas. As part of this mission, the Museum of Modern Art establishes, preserves, and documents a permanent collection of modern and contemporary art, presents exhibitions and educational programs, sustains a library, archives, and conservation laboratory and supports scholarship and publications. The Form 990 is one of several reports the Museum makes available each year. The Museum encourages it to be read with the audited financial statements, which provide additional financial context. These documents as well as previous years reports can be found on moma.org.”

“The Museum's mission is to connect people from around the world to the art of our time. The Museum aspires to be a catalyst for experimentation, learning, and creativity, a gathering place for all, and a home for artists and their ideas. In pursuit of this goal, the Museum has collected approximately 200,000 works of art, including works of painting, sculpture, drawing, prints, illustrated books, photography, film, media, performance art, architecture, and industrial and graphic design. As a central part of its mission, the Museum also operates a scholarly publishing program, conducts an extensive learning and engagement program, and maintains a major library, archives, and conservation laboratory that are recognized as international centers of research. Its exhibitions are circulated nationally and internationally.”

“After over three years of construction, including a planned four-month temporary closure of the Museum to the public in order to complete construction and art re-installation, an expanded new MoMA opened on October 21, 2019, with a reimagined presentation of modern and contemporary art, catalyzed by a 30% increase in overall gallery space and an improved quality of visitor experience through reconceived entrances, circulation, and amenities, concurrent with an increase in public space, including an expanded below-grade store and a new restaurant with terrace on the sixth floor. The expansion, developed by MoMA with architects Diller Scofidio + Renfro, in collaboration with Gensler, added more than 40,000 square feet of gallery spaces and enables the Museum to exhibit significantly more art in new and interdisciplinary ways. In FY 2024, visitors to MoMA had access to or engaged with interpretative offerings including labels, audio content (offered in nine languages), activity packets, and self-guided tour materials. During this time, the Museum continued to build back to pre-pandemic programming levels, including gallery tours, interactive spaces, workshops, visual description tours for the blind and partially sighted, and resources for other individuals with special needs, that had been successfully pivoted to virtual offerings in the previous fiscal year. Additionally, through its partnership with Adobe, over 18,000 students, teachers, and chaperones participated in the Guided School Tour Program for K-12 Students, representing a 50% increase in program attendance from FY 2023.”

“Gifts of artwork are considered by individual item. Form 990, Part VI, Section A, Line 4: In light of discussions regarding the non-voting status of life trustees, certain of whom remain very active in the Museum's affairs and leadership, at the May 29, 2018 annual meeting of the Board of Trustees, a resolution was proposed and approved allowing certain changes to the bylaws such that an Elective Trustee who has reached 75 years of age or older at the expiration of his or her current term may be elected either to continue to serve as an elective trustee, or to serve as a life Trustee; in certain appropriate circumstances the Trustee may also rotate off the Board. In view of the fact that with this amendment, an expanded panel of elective trustees will remain on the board past their 75th birthdays, a change to increase the maximum number of elective trustees from 50 to 70 was also proposed and approved by the Board.”

“The other changes in net assets are related to Defined Benefit Plan changes other than net periodic benefit costs partially offset by organizations that file a separate return. 10,445,967.”