Civic Intelligence

The Pierpont Morgan Library

EIN 13-1624146 • 501(c)3 • New York, NY

View Organization Page

Profile

The mission of the Morgan Library & Museum is to preserve, build, study, present, and interpret a collection of extraordinary quality, in order to stimulate enjoyment, excite the imagination, advance learning, and nurture creativity.

Refreshing map…

225 Madison AvenueNew York, NY 10016

www.themorgan.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

16th percentile

0.05x

Higher debt load relative to assets than 16% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2025

Liabilities / Revenue

41st percentile

0.37x

Higher debt load relative to revenue than 41% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2025

Net Margin

82nd percentile

23%

Higher net margin than 82% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2025

Top Officer Pay

61st percentile

$896,039

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 1.6% of source-year revenue.

501(c)3 • $250M-$1B nonprofits • Source year 2025

Asset Growth

59th percentile

7.4%

Faster asset growth than 59% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2025

Revenue Growth

92nd percentile

52%

Faster revenue growth than 92% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2025

Balance Sheet
Liabilities / Assets16th percentile

Assets

Up

$445,845,749

Up $10,180,778 (+2.3%) from 2024

Liabilities

Up

$20,139,906

Up $334,431 (+1.7%) from 2024

Net Assets

Up

$425,705,843

Up $9,846,347 (+2.4%) from 2024

Operations
Liabilities / Revenue41st percentileNet Margin82nd percentile

Revenue

Down

$55,087,598

Down $3,585,130 (-6.1%) from 2024

Expenses

Up

$42,662,741

Up $8,270,187 (+24%) from 2024

Net Income

Down

$12,424,857

Down $11,855,317 (-49%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth59th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$600M$400M$200M$0Assets 2010: $290,398,162Liabilities 2010: $23,420,374Net Assets 2010: $266,977,7882010Assets 2011: $304,880,803Liabilities 2011: $26,868,621Net Assets 2011: $278,012,1822011Assets 2012: $297,935,326Liabilities 2012: $22,909,036Net Assets 2012: $275,026,2902012Assets 2013: $312,792,308Liabilities 2013: $24,421,240Net Assets 2013: $288,371,0682013Assets 2014: $336,019,343Liabilities 2014: $23,117,153Net Assets 2014: $312,902,1902014Assets 2015: $342,659,099Liabilities 2015: $23,311,544Net Assets 2015: $319,347,5552015Assets 2016: $330,453,611Liabilities 2016: $18,659,148Net Assets 2016: $311,794,4632016Assets 2017: $348,319,163Liabilities 2017: $19,549,734Net Assets 2017: $328,769,4292017Assets 2018: $367,845,999Liabilities 2018: $18,846,222Net Assets 2018: $348,999,7772018Assets 2019: $370,490,806Liabilities 2019: $19,833,066Net Assets 2019: $350,657,7402019Assets 2020: $345,611,294Liabilities 2020: $18,982,265Net Assets 2020: $326,629,0292020Assets 2021: $418,437,020Liabilities 2021: $21,758,802Net Assets 2021: $396,678,2182021Assets 2022: $416,332,166Liabilities 2022: $20,772,782Net Assets 2022: $395,559,3842022Assets 2023: $386,483,637Liabilities 2023: $19,462,902Net Assets 2023: $367,020,7352023Assets 2024: $435,664,971Liabilities 2024: $19,805,475Net Assets 2024: $415,859,4962024Assets 2025: $445,845,749Liabilities 2025: $20,139,906Net Assets 2025: $425,705,8432025

Highlighted filing

2025

Assets$445,845,749
Liabilities$20,139,906
Net Assets$425,705,843
Open 2025 Filing

Operations Trend

Revenue Growth92nd percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$60M$40M$20M$0-$20MExpenses 2010: $20,456,0412010Expenses 2011: $22,917,0452011Expenses 2012: $23,171,9272012Revenue 2013: $23,177,157Expenses 2013: $22,444,658Net Income 2013: $732,4992013Revenue 2014: $41,530,000Expenses 2014: $23,801,608Net Income 2014: $17,728,3922014Revenue 2015: $28,313,804Expenses 2015: $23,917,548Net Income 2015: $4,396,2562015Revenue 2016: $32,170,193Expenses 2016: $24,575,232Net Income 2016: $7,594,9612016Revenue 2017: $26,414,603Expenses 2017: $25,933,283Net Income 2017: $481,3202017Revenue 2018: $43,314,751Expenses 2018: $26,070,973Net Income 2018: $17,243,7782018Revenue 2019: $35,929,819Expenses 2019: $27,775,744Net Income 2019: $8,154,0752019Revenue 2020: $30,703,871Expenses 2020: $28,143,549Net Income 2020: $2,560,3222020Revenue 2021: $25,823,209Expenses 2021: $22,832,553Net Income 2021: $2,990,6562021Revenue 2022: $59,153,120Expenses 2022: $26,123,983Net Income 2022: $33,029,1372022Revenue 2023: $23,737,274Expenses 2023: $31,437,927Net Income 2023: -$7,700,6532023Revenue 2024: $58,672,728Expenses 2024: $34,392,554Net Income 2024: $24,280,1742024Revenue 2025: $55,087,598Expenses 2025: $42,662,741Net Income 2025: $12,424,8572025

Highlighted filing

2025

Revenue$55,087,598
Expenses$42,662,741
Net Income$12,424,857
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$445,845,749
Liabilities
$20,139,906
Net assets
$425,705,843
Revenue
$55,087,598
Expenses
$42,662,741
Net income
$12,424,857
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$446$20.1$426$55.1$42.7$12.4
2024Detailed filing. Detailed filing data is available for this year.$436$19.8$416$58.7$34.4$24.3
2023Detailed filing. Detailed filing data is available for this year.$386$19.5$367$23.7$31.4$7.70
2022Detailed filing. Detailed filing data is available for this year.$416$20.8$396$59.2$26.1$33.0
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$418$21.8$397$25.8$22.8$2.99
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$346$19.0$327$30.7$28.1$2.56
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$370$19.8$351$35.9$27.8$8.15
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$368$18.8$349$43.3$26.1$17.2
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$348$19.5$329$26.4$25.9$0.48
2016Detailed filing. Detailed filing data is available for this year.$330$18.7$312$32.2$24.6$7.59
2015Detailed filing. Detailed filing data is available for this year.$343$23.3$319$28.3$23.9$4.40
2014Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$336$23.1$313$41.5$23.8$17.7
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$313$24.4$288$23.2$22.4$0.73
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$298$22.9$275$23.2
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$305$26.9$278$22.9
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$290$23.4$267$20.5
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Apr 1, 2024 to Mar 31, 2025
Signed
Mar 15, 2025
Return Version
2024v5.5
Gross Receipts
$98,552,488
Mission and Program Overview

Mission

The mission of the Morgan Library & Museum is to preserve, build, study, present, and interpret a collection of extraordinary quality, in order to stimulate enjoyment, excite the imagination, advance learning, and nurture creativity.

Museum and independent research library (see Schedule O)located in the heart of New York City, the Morgan Library & Museum began as the personal library of financier, collector, and cultural benefactor J. Pierpont Morgan (1837-1913). The Morgan offers the public close encounters with great works of human accomplishment in a setting treasured for its intimate scale and historic significance. Its collections of manuscripts, rare books, music, drawings, and other works of art comprise a unique record of civilization, as well as an incomparable repository of ideas and the creative process.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$178,969,440$198,956,677▲ $19,987,237
Investments in Publicly Traded Securities$126,137,383$117,273,385▼ $8,863,998
Land, Buildings, and Equipment, Net$93,646,204$90,283,214▼ $3,362,990
Pledges and Grants Receivable$16,442,515$14,836,029▼ $1,606,486
Savings and Temporary Cash Investments$14,176,709$13,557,353▼ $619,356
Cash and Non-Interest-Bearing Accounts$2,082,924$7,591,479▲ $5,508,555
Prepaid Expenses and Deferred Charges$1,262,085$631,570▼ $630,515
Accounts Receivable$916,498$438,428▼ $478,070
Inventories for Sale or Use$268,999$382,191▲ $113,192
Total Assets$435,664,971$445,845,749▲ $10,180,778
Other Assets Total$1,762,214$1,895,423▲ $133,209
Liabilities
Tax Exempt Bond Liabilities$14,732,939$14,760,098▲ $27,159
Other Liabilities$2,984,187$2,923,539▼ $60,648
Accounts Payable and Accrued Expenses$1,681,370$2,046,773▲ $365,403
Deferred Revenue$406,979$409,496▲ $2,517
Total Liabilities$19,805,475$20,139,906▲ $334,431
Net Assets / Fund Balance
Net Assets With Donor Restrictions$307,961,520$325,169,745▲ $17,208,225
Net Assets Without Donor Restrictions$107,897,976$100,536,098▼ $7,361,878
Total Net Assets Fund Balance$415,859,496$425,705,843▲ $9,846,347
Total Liabilities and Net Assets / Fund Balance$435,664,971$445,845,749▲ $10,180,778

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$73,576,583$77,389,781$150,966,364
Land$15,192,414-$15,192,414
Equipment$1,514,217$6,648,172$8,162,389
Other Securities$16,354,285--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$307,695,090$4,531,743▲ $15,708,898$13,184,142$314,751,589
2023$272,166,907$11,501,000▲ $38,637,682$14,610,499$307,695,090
2022$299,139,807$102,000▼ $13,259,209$13,815,691$272,166,907
2021$299,100,018$3,003,000▲ $8,110,937$11,074,148$299,139,807
2020$229,226,001$1,103,000▲ $79,843,037$11,072,020$299,100,018
Compensation and Service Providers
Top Officer Pay61st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Colin B BaileyDirectorFT$772,730$123,309$896,039
Kristina W StillmanDirector of Fin./Adm & Asst. TreasurerFT$345,857$75,844$421,701
Jessica B LudwigDeputy Dir.& Asst.SecretaryFT$286,561$48,686$335,247
Lauren Stakias to 102024Director of Institutional AdvancementFT$243,799$24,967$268,766
Mary SchlitzerControllerFT$197,744$48,944$246,688
John J MarciariDirector of Curatorial AffairsFT$203,203$35,832$239,035
Maria FredericksSherman Fairchild Head of Thaw CTR.FT$169,460$46,223$215,683
Gilbert ParillaEngineerFT$169,805$13,652$183,457

Board Members and Trustees

NameTitle
G Scott ClemonsCo-President
Robert King SteelCo-President
Clement C Moore IIVice President
Martha McGarry MillerVice President
Allison BinnsTrustee
Alyce Williams ToonkTrustee
Annette de la RentaTrustee
Donna Perret RosenTrustee
Eric L MotleyTrustee
Frederick J IsemanTrustee
Jerker M JohanssonTrustee
Joshua W SommerTrustee
Karen B CohenTrustee
Katharine J RaynerTrustee
Martha J FleischmanTrustee
Mohit AssomullTrustee
Peter PennoyerTrustee
Rachel R SternTrustee
Susanna BorgheseTrustee
Patricia MortonSecretary
George L K FrelinghuysenTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Sotheby'sAuction Commissions and Services945 Madison Avenue, New York, NY 10021$1,527,720
AKA NYC LimitedAdvertising and Marketing fees321 West 44th Street Suite 401, New York, NY 10036$788,193
Allied Security Holdings LLCSecurity OfficersPO Box 828854, Philadelphia, PA 19182$606,082
John O'Hara Company IncConstruction Services25 Kearney Street, East Orange, NJ 07017$494,819
Restaurant AssociatesFood service provider132 West 31st Street Suite 601, New York, NY 10001$462,417
Revenue and Support

Revenue Composition

Contributions and Grants
$29,030,601
Program Service Revenue
$5,459,427
Investment Income
$19,657,249
Other Revenue
$940,321
All Other Contributions
$25,610,116
Change in Net Assets
$12,424,857

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded35$4,337,529Quoted Market Price
Total Noncash Contributions35$4,337,529-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$26,175,421
Salaries, Compensation, and Employee Benefits$16,379,272
Total Fundraising Expense$3,240,636
Grants and Similar Amounts Paid$108,048
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$8,853,756$1,314,472$1,121,489$11,289,717
Depreciation Depletion$3,607,364$451,145$322,106$4,380,615
Fees for Services Other$778,966$1,300,626$370,243$2,449,835
Current Officers, Directors, Trustees, and Key Employees$1,032,577$466,506$402,799$1,901,882
Other Employee Benefits$1,179,345$431,039$172,970$1,783,354
Payroll Taxes$492,182$222,339$76,548$791,069
Interest$586,018$112,558$52,326$750,902
All Other Expenses$590,050$64,674$61,237$715,961
Advertising$572,592$63,743-$636,335
Pension Plan Contributions$405,547$148,223$59,480$613,250
Fees for Service Investment Mgmnt Fees-$524,615-$524,615
Office Expenses$171,674$154,232$90,795$416,701
Travel$93,648$72,535$239,257$405,440
Information Technology$247,552$54,154$58,458$360,164
Insurance$262,165$25,079$17,959$305,203
Other Expenses$290,108$458,632$194,969$290,108
Fees for Services Legal-$110,211-$110,211
Grants to Domestic Individuals$108,048--$108,048
Fees for Services Accounting-$79,067-$79,067
Total Functional Expenses$33,368,255$6,053,850$3,240,636$42,662,741
International Activity

International Summary

Offices
0
Employees
0
Spending
$75,130,466

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanINVESTMENTS - Form 990, Part X, Line 12-00$75,130,466
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$180,117
Fundraising Gross Income$180,117
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$712,709$109,131$42,183$66,948
Luncheon$311,371$70,986$18,868$52,118
Total Events$1,024,080$180,117$180,117$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Section 457(b) Retirement Plan Liability$1,895,423
Accrued Post-Retirement Health Benefits$1,028,116

Bond Issues

BondIssuerIssuedIssue PricePurpose
AThe Trust for Cultural Resources of The City of New York2004-01-22$50,000,000Construction, renovation, and equipping a portion of the Morgan's facility.

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$50,000,000-$35,000,000$828,776

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
Yes
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 1A

“The By-Laws provide for an Executive Committee that shall have the powers of the Board of Trustees, with certain exceptions, and the ability to exercise its powers between meetings of the Board of Trustees. The Executive Committee shall consist of three or more members of the Board of Trustees, including the Co-Presidents and the Director. As of March 31, 2025, there were nine such Trustee members.”

Form 990, Part VI, Section A, line 2

“John A. Morgan and Peter M. Pennoyer have a family relationship.”

Form 990, Part VI, Section B, line 11B

“The Form 990 was reviewed by the Director of Finance and Administration/CFO, the Director, and the Audit Committee, and was made available to all voting members of the Board of Trustees prior to filing.”

Form 990, Part VI, Section B, line 12C

“Disclosure forms are distributed annually to officers, members of the Board, and key employees. Disclosures are reviewed by a designated member of the Audit Committee, who periodically updates the Chair of the Audit Committee regarding compliance with disclosure requirements. The conflict of interest policy establishes a procedure under which the Audit Committee reviews, addresses, and documents its determination regarding a potential conflict of interest.”

Form 990, Part VI, Section B, line 15

“The Compensation Committee of the Board of Trustees reviews and determines compensation for employees who serve as officers, utilizing comparable data from sources they deem appropriate.”

Form 990, Part VI, Section C, line 19

“Requests for copies of the Morgan's governing documents, conflict of interest policy, and financial statements are evaluated on a case-by-case basis.”

Filing and Contact Details

Filer

Filer Name
The Pierpont Morgan Library
EIN
13-1624146
Phone
2126850008
Address
225 Madison Avenue, New York, NY 10016
Doing Business As
The Morgan Library & Museum

Signing Officer

Name
Colin B Bailey
Title
Director
Phone
2126850008
Signed
2025-03-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Colin B Bailey
Formed
1924
Legal Domicile
Ny
Voting Board Members
22
Independent Board Members
21
Employees
268
Volunteers
46

Preparer

Firm
Lutz and Carr Cpas Llp
Address
551 FIFTH AVENUE SUITE 400, NEW YORK, NY 10176
Preparer
Frederick Martens
Phone
2126972299
Supplemental Narrative

Financial Statement Notes

Part III, Line 1A:

“The Morgan's collections are maintained under curatorial care and are held for research, education and public exhibition. It is the Morgan's policy that any proceeds from the sales of collection items be used for acquisitions for the collections. The Morgan excludes the carrying value of its collections from the statement of financial position. Acquisitions for the collections are reflected as decreases in the Morgan's net assets without donor restrictions in the year in which the items are acquired. Contributed collection items are not reflected in the Morgan's financial statements.”

Part III, Line 4:

“The extraordinary group of medieval and Renaissance manuscripts; printed books and bindings; literary, historical, and music manuscripts; master drawings; and ancient cylinder seals that J. Pierpont Morgan brought together were among the first important collections of their kind in America. From these core holdings, the Morgan's collections have grown to more than 500,000 objects that in their respective fields are among the finest in the world. The Morgan continues to acquire in the fields established by Pierpont Morgan and is one of only a handful of American institutions devoted to collecting and exhibiting in these specialized areas. The collections now also include Photography and Modern & Contemporary Drawings. In addition, the Morgan presents a broad range of public offerings (lectures, concerts, adult and children's educational programs) based on the collections.”

Part V, Line 4:

“The Morgan's endowment consists of numerous individual funds established for a broad range of institutional purposes and includes both donor-restricted endowment funds and funds designated by the Board of Trustees to function as endowments. Endowment funds are classified and reported based on the existence or absence of donor-imposed restrictions.”

Raw XML AppendixShowing 400 of 1,008 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivitiesConductedPrtshpInd00
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IRS990/Desc0Curatorial: The Morgan Library & Museum ("the Morgan") occupies a midtown Manhattan campus comprised of three landmarked buildings that are joined by pavilions constructed of steel-and-glass panels designed by renowned architect Renzo Piano. The Morgan houses one of the world's greatest collections of artistic, literary, musical, and historical works. Included in its holdings are original scores of Mozart and Beethoven, drawings by Rembrandt and Rubens, medieval and Renaissance works, three Gutenberg Bibles, literary manuscripts by Dickens and Twain, and five-thousand-year-old carvings from the countries of ancient Western Asia. The Morgan recorded 308,582 visitors over the fiscal year, primarily for a wide variety of changing exhibitions encompassing (continued on Schedule O)works from the Morgan's permanent collection and from other museums and libraries in the U.S. and abroad. Exhibitions during fiscal year 2025 included "Beatrix Potter: Drawn to Nature;" "Walton Ford: Animal Studies and Sketches;" "Belle da Costa Greene: A Librarian's Legacy; and "Franz Kafka." The Morgan's curators plan the exhibitions, oversee the permanent collection, prepare exhibition and collection-related catalogs, organize symposia, host graduate seminars, and provide research and other services to the scholarly community.The extraordinary group of medieval and Renaissance manuscripts; printed books and bindings; literary, historical, and music manuscripts; drawings and prints; and ancient cylinder seals that J. Pierpont Morgan brought together were among the first important collections of their kind in America and form what is today the core of the Morgan's holdings. (The collection now includes photography and modern and contemporary drawings as well.) In overall quality and importance, these collections are among the finest in the world, distinguished by the high percentage of items that are unique or exceptionally rare. One of only a handful of American institutions devoted to these specialized areas, the Morgan maintains an active acquisitions program and now holds several hundred thousand items in its collection.The Morgan's Drawing Institute is devoted to the interpretation, conservation, and theory of old master and modern drawing with the goal of stimulating new lines of investigation and discourse. The Drawing Institute supports research through annual fellowships; publications; small, focused exhibitions; and an ongoing series of symposia, seminars, and lectures.
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