Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1b · Membership dues

  $2,969,571

• 1c · Fundraising events

  $2,397,100

• 1e · Government grants (contributions)

  $10,939,552

• 1f · All other contributions, gifts and grants

  $22,953,314

• 1g · Noncash contributions included above

  $861,825

• 2a · Program service revenue: ADMIS./PUBLIC AFFAIRS

  total $6,424,741 · related or exempt $6,424,741

• 2b · Program service revenue: EXHIBITION & LOAN FEES

  total $1,933,116 · related or exempt $1,405,530 · excluded $527,586

• 2c · Program service revenue: SPECIAL EXHIBITIONS

  total $268,800 · related or exempt $268,800

• 3 · Investment income

  total $1,527,751 · unrelated business $8,688 · excluded $1,519,063

• 6a · Gross rents

  real property $640,392

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $640,392

• 6d · Net rental income or loss

  total $640,392 · excluded $640,392

• 7a · Gross sales of assets other than inventory

  securities $49,530,858 · other assets $608,637

• 7b · Less cost or other basis and sales expenses

  securities $49,570,232 · other assets $0

• 7c · Gain or loss

  securities -$39,374 · other assets $608,637

• 7d · Net gain or loss

  total $569,263 · excluded $569,263

• 8a · Fundraising events: gross income

  $176,150

• 8a · Fundraising events: contributions included on line 1c

  $2,397,100

• 8b · Fundraising events: direct expenses

  $1,662,746

• 8c · Net income from fundraising events

  total -$1,486,596 · excluded -$1,486,596

• 10a · Gross sales of inventory

  $6,632,560

• 10b · Cost of goods sold

  $5,063,495

• 10c · Net income from sales of inventory

  total $1,569,065 · related or exempt $1,569,065

• 11a · Other revenue: CAFE REVENUE

  total $227,775 · excluded $227,775

• 11b · Other revenue: POP-UP REVENUE

  total $3,349 · excluded $3,349

• 11e · Other revenue, total

  $231,124

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $3,078,906 · program services $2,197,517 · management and general $533,724 · fundraising $347,665

• 6 · Compensation of disqualified persons

  total $9,013 · program services $6,433 · management and general $1,562 · fundraising $1,018

• 7 · Other salaries and wages

  total $24,699,930 · program services $18,157,195 · management and general $4,001,014 · fundraising $2,541,721

• 8 · Pension plan contributions

  total $2,412,550 · program services $602,519 · management and general $1,779,863 · fundraising $30,168

• 9 · Other employee benefits

  total $5,952,085 · program services $1,486,497 · management and general $4,391,162 · fundraising $74,426

• 10 · Payroll taxes

  total $979,505 · program services $579,477 · management and general $256,144 · fundraising $143,884

• 11b · Fees: legal

  total $789,614 · program services $183,813 · management and general $538,292 · fundraising $67,509

• 11c · Fees: accounting

  total $164,384 · management and general $164,384

• 11d · Fees: lobbying

  total $48,900 · program services $48,900

• 11e · Fees: professional fundraising services

  total $255,857 · fundraising $255,857

• 11f · Fees: investment management

  total $911,715 · management and general $911,715

• 11g · Fees: other

  total $4,047,142 · program services $3,160,525 · management and general $861,713 · fundraising $24,904

• 12 · Advertising and promotion

  total $1,042,333 · program services $998,003 · fundraising $44,330

• 13 · Office expenses

  total $4,015,493 · program services $2,130,910 · management and general $107,043 · fundraising $1,777,540

• 14 · Information technology

  total $557,484 · program services $166,775 · management and general $367,006 · fundraising $23,703

• 17 · Travel

  total $851,735 · program services $326,669 · management and general $11,908 · fundraising $513,158

• 19 · Conferences, conventions and meetings

  total $52,161 · program services $20,962 · management and general $28,316 · fundraising $2,883

• 22 · Depreciation, depletion and amortization

  total $6,440,488 · program services $6,122,336 · management and general $266,169 · fundraising $51,983

• 23 · Insurance

  total $723,431 · program services $400,069 · management and general $323,162 · fundraising $200

• 24a · Other expenses: ART ACQUISITION

  total $1,278,825 · program services $1,278,825

• 24b · Other expenses: FOOD AND ENTERTAINMENT

  total $671,600 · program services $572,878 · management and general $98,722

• 24c · Other expenses: CRATING/SHIPPING

  total $209,085 · program services $209,085

• 24d · Other expenses: RESEARCH & CURATORIAL

  total $157,719 · program services $139,250 · management and general $17,852 · fundraising $617

• 24e · All other expenses

  total $2,766,259 · program services $2,305,142 · management and general $461,117

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,881,740 · end of year $11,775,915

• 2 · Savings and temporary cash investments

  beginning of year $13,259,659 · end of year $8,252,782

• 3 · Pledges and grants receivable

  beginning of year $8,781,615 · end of year $13,689,306

• 4 · Accounts receivable

  beginning of year $2,016,652 · end of year $1,176,950

• 8 · Inventories for sale or use

  beginning of year $2,137,427 · end of year $992,743

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,746,454 · end of year $1,896,132

• 10a · Land, buildings and equipment: cost or other basis

  $238,292,139

• 10b · Land, buildings and equipment: accumulated depreciation

  $90,299,011

• 10c · Land, buildings and equipment, net

  beginning of year $150,019,580 · end of year $147,993,128

• 11 · Investments: publicly traded securities

  beginning of year $40,326,941 · end of year $43,937,053

• 12 · Investments: other securities

  beginning of year $144,916,228 · end of year $146,216,999

• 15 · Other assets

  beginning of year $1,271,000 · end of year $2,177,239

• 17 · Accounts payable and accrued expenses

  beginning of year $6,029,437 · end of year $4,776,043

• 19 · Deferred revenue

  beginning of year $4,122,687 · end of year $3,798,522

• 25 · Other liabilities

  beginning of year $30,393,924 · end of year $30,610,646

• 27 · Net assets without donor restrictions

  beginning of year $194,488,676 · end of year $183,823,559

• 28 · Net assets with donor restrictions

  beginning of year $133,322,572 · end of year $155,099,477

The filer's explanations (Part III)

PART I, LINE 7

THE MUSEUM ISSUED A DISCRETIONARY RETENTION BONUS TO HARDAT RAYWAT, DIRECTOR OF ENGINEERING AND FACILITIES MANAGEMENT, IN RECOGNITION OF EXCELLENT WORK PERFORMANCE IN CALENDAR YEAR 2022. THIS AMOUNT IS REPORTED IN SCHEDULE J, PART II, COLUMN (B)(II).

SCHEDULE J COMPENSATION REPORTING FOR THE MUSEUM'S DIRECTOR

AS A RESULT OF ANNE PASTERNAK TAKING A VOLUNTARY REDUCTION IN COMPENSATION DURING THE COVID-19 PANDEMIC TO SUPPORT THE MUSEUM DURING A CHALLENGING FINANCIAL PERIOD, THE MUSEUM MADE A ONE-TIME CATCH-UP PAYMENT OF $55,000 IN CALENDAR YEAR 2022. LIKEWISE, TO HELP OUT THE MUSEUM DURING A DIFFICULT FINANCIAL PERIOD, ANNE PASTERNAK HAD DEFERRED FIVE YEARS OF CONTRACTUAL ANNUAL BONUSES IN RECOGNITION OF HER OUTSTANDING PERFORMANCE. THE BOARD THEREFORE ISSUED AS A LUMP SUM ONE-TIME PAYMENT IN CALENDAR YEAR 2022 OF $330,000 TO MAKE HER SALARY WHOLE. AFTER FIVE YEARS OF SERVICE, IN LIEU OF A RAISE, ANNE PASTERNAK ASKED AND RECEIVED A HOUSING ALLOWANCE OF $100,000 IN CALENDAR YEAR 2022. THIS AMOUNT IS REFLECTED IN SCHEDULE J, PART II, COLUMN (B)(II).