2025-05-14T15:41:55-05:00 2024-06-30 991856619 GRANT THORNTON ADVISORS LLC 757 Third Avenue 3rd Floor New York NY 100172013 990 2023-07-01 131624100 Museum of Modern Art MUSE 2127089400 11 West 53rd Street New York NY 10019 JAN POSTMA Deputy COO/CFO 2127089400 2025-05-13 1 0 Daniel Romano P00504182 2125990100 2023 2025-03-06 01:10:19Z Glenn Lowry 11 West 53rd Street New York NY 10019 633476608 0 X www.moma.org X 1929 NY The Museum of Modern Art connects people from around the world (Continued in Schedule O) 53 53 1209 0 11552850 1971246 108016214 122024717 37165583 42086903 54497171 116008935 37001753 44619067 236680721 324739622 2596572 2086820 0 0 106647849 122150484 0 0 14134579 171425088 174736570 280669509 298973874 -43988788 25765748 2490307043 2603472413 376132235 357572409 2114174808 2245900004 X The Museum of Modern Art is a private, non-profit institution chartered by the State of New York Department of Education in 1929 to foster public awareness of modern and contemporary art. (Continued in Schedule O) 0 0 144408117 2086820 75516756 Museum Operations - Curatorial and curatorial support departments include conservation, learning and engagement programming, exhibitions, creative, publications, library and archives. The Museum was founded in 1929 as an educational institution and maintains a vast breadth of educational programming, which increased in the years after the openings of the renovations and expansions in 2004, 2006, and 2019. (Continued in Schedule O) 19788805 0 2176898 In FY 2024, approximately 431 works were added to this collection, both by donation and by purchase. 52702912 0 0 Security, operations, and maintenance of exhibition galleries and art collection. 216899834 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 0 0 1 0 1 1 0 0 0 1 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 827 0 1 1209 1 1 1 0 0 0 0 1 1 0 0 0 0 1 0 X 53 53 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AL AK AR CA CO CT FL GA HI IL KS KY MA MD ME MI MN MS NC NH NJ NM NY OH OK OR PA RI SC TN VA VT WA WI WV X X Karen Stewart 2127089801 11 West 53rd Street NEW YORK NY 10019 X Ronald S Lauder Honorary Chair/Trustee 1.00 0.50 X X 0 0 0 Jerry I Speyer Chairman Emeritus/Trustee 1.00 0.00 X X 0 0 0 Agnes Gund President Emerita/Trustee 0.50 0.50 X X 0 0 0 Marie-Josee Kravis Chair/Trustee 5.00 0.00 X X 0 0 0 Maja Oeri Vice Chair/Trustee 1.00 0.00 X X 0 0 0 Ronnie Heyman President/Trustee 5.00 0.00 X X 0 0 0 Sid R Bass Vice Chairman/Trustee 1.00 0.00 X X 0 0 0 Mimi Haas Vice Chair/Trustee 1.00 0.00 X X 0 0 0 Marlene Hess Vice Chair/Trustee 1.00 0.00 X X 0 0 0 Edgar Wachenheim III Treasurer/Trustee 1.00 0.00 X X 0 0 0 Sarah Arison Trustee 1.00 0.00 X 0 0 0 Alexandre Arnault Trustee 1.00 0.00 X 0 0 0 Scott Belsky Trustee (Beg 12/23) 1.00 0.00 X 0 0 0 Lawrence B Benenson Trustee 1.00 0.00 X 0 0 0 David Booth Trustee 1.00 0.00 X 0 0 0 Leon D Black Trustee 1.00 0.00 X 0 0 0 Clarissa Alcock Bronfman Trustee 1.00 0.00 X 0 0 0 Patricia Phelps de Cisneros Trustee 1.00 0.00 X 0 0 0 Edith Cooper Trustee 1.00 0.00 X 0 0 0 Paula Crown Trustee 1.00 0.00 X 0 0 0 Steven Cohen Trustee 1.00 0.00 X 0 0 0 David Dechman Trustee 1.00 0.00 X 0 0 0 Anne Dias Griffin Trustee 1.00 0.00 X 0 0 0 Glenn Dubin Trustee 1.00 0.00 X 0 0 0 Lonti Ebers Trustee 1.00 0.00 X 0 0 0 Joel S Ehrenkranz Trustee 1.00 0.00 X 0 0 0 John Elkann Trustee 1.00 0.00 X 0 0 0 Laurence D Fink Trustee 1.00 0.00 X 0 0 0 Glenn Fuhrman Trustee 1.00 0.00 X 0 0 0 Kathleen Fuld Trustee 1.00 0.00 X 0 0 0 AC Hudgins Trustee 1.00 0.00 X 0 0 0 Barbara Jakobson Trustee 1.00 0.00 X 0 0 0 Pamela Joyner Trustee 1.00 0.00 X 0 0 0 Jill Kraus Trustee 1.00 0.00 X 0 0 0 Khalil Gibran Muhammad Trustee 1.00 0.00 X 0 0 0 Philip S Niarchos Trustee 1.00 0.00 X 0 0 0 James G Niven Trustee 1.00 0.00 X 0 0 0 Peter Norton Trustee 1.00 0.00 X 0 0 0 Daniel S Och Trustee 1.00 0.00 X 0 0 0 Eyal Ofer Trustee 1.00 0.00 X 0 0 0 Michael S Ovitz Trustee 1.00 0.00 X 0 0 0 Sharon Percy Rockefeller Trustee 1.00 0.00 X 0 0 0 Emily Rauh Pulitzer Trustee 1.00 0.00 X 0 0 0 Richard Roth Trustee 1.00 0.00 X 0 0 0 Richard E Salomon Trustee 1.00 0.00 X X 0 0 0 Anna Marie Shapiro Trustee 1.00 0.00 X 0 0 0 Anna Deavere Smith Trustee 1.00 0.00 X 0 0 0 Robert Soros Trustee (Beg 06/24) 1.00 0.00 X 0 0 0 Jon Stryker Trustee 1.00 0.00 X 0 0 0 Daniel Sundheim Trustee 1.00 0.00 X 0 0 0 Tony Tamer Trustee 1.00 0.00 X 0 0 0 Steve Tananbaum Trustee 1.00 0.00 X 0 0 0 Alice M Tisch Trustee 1.00 0.00 X 0 0 0 Xin Zhang Trustee 1.00 0.00 X 0 0 0 Wallis Annenberg Life Trustee 0.50 0.00 X 0 0 0 David Rockefeller Jr Life Trustee 0.50 0.00 X 0 0 0 Glenn D Lowry Director/Ex-Officio Trustee 50.00 1.00 X 1609386 0 745320 James Gara COO/Assistant Treasurer 50.00 1.00 X 957123 0 171176 James Grooms General Counsel/Secretary 50.00 1.50 X 606707 0 45763 Lou-Alan Fernandes Chief Investment Officer (Beg 01/23) 50.00 0.00 X 1490907 0 44900 Beverly Morgan-Welch Sr. Deputy Dr of External Affairs 50.00 0.00 X 697838 0 48787 Sarah Suzuki Associate Museum Director 50.00 0.00 X 498786 0 111405 Ann Temkin Chief Curator-Painting & Sculpture 50.00 0.00 X 440892 0 165956 Roxana Marcoci Senior Curator- Photography 50.00 0.00 X 328850 0 254328 Christophe Cherix Chief Curator - Drawings and Prints 50.00 0.00 X 433149 0 109355 Jan Postma Chief Financial Officer 50.00 0.00 X 444500 0 89279 Rajendra Roy Chief Curator - Film 50.00 0.00 X 401432 0 91503 Odessa Matsubara Chief Human Resources Officer 50.00 0.00 X 419141 0 63554 Christy Thompson Sr. Deputy Dr of Exhibit. & Collect. 50.00 0.00 X 414903 0 64028 Tunji Adeniji Chief Facilities and Safety Officer 50.00 0.00 X 368404 0 49977 Stuart Comer Chief Curator - Media & Perf. Art 50.00 0.00 X 336673 0 37868 Martino Stierli Chief Curator - Arch. and Design 50.00 0.00 X 306496 0 57461 Michelle Kuo - Chief Curator at Large & Publisher (Beg 01/24) 50.00 0.00 X 225421 0 52719 Gabriel Morrow Managing Director, Investments 50.00 0.00 X 634137 0 98787 Jean Savitsky Dir. Real Estate and Construction 50.00 0.00 X 541755 0 57241 Emmanuel Plat Director, Merchandising 50.00 0.00 X 492426 0 57801 Jesse Goldstine General Manager - Retail 50.00 0.00 X 423993 0 60291 Diana Pan Chief Technology Officer 50.00 0.00 X 378269 0 39624 12451188 0 2517123 252 0 1 0 Radial Inc 935 First Avenue King of Prussia PA 19406 Retail Distrib Center/ Fulfillment Mgm't 7270441 Collins Building Services Inc 24-01 44th Road Long Island City NY 11101 Janitorial Cleaning 4741175 Serino Coyne LLC 1285 Avenue of the Americas 5th fl New York NY 10019 Marketing Agency 2049304 IMEREX Inc 666 Third Street South 102 Naples FL 34102 Advertising 1891072 Forrest Solutions Inc 19 West 44 street 9th floor New York NY 10016 Recruiting Agency 1401698 94 2253987 8745086 111025644 8764656 122024717 Admissions 712100 40556974 40556974 Other Programs 712100 1000929 1000929 Exhibition Tour Income 712100 529000 529000 42086903 36631644 -856296 37487940 23860 23860 342650797 2176898 265450404 0 77200393 2176898 79377291 2176898 968616 76231777 220610 8745086 1955638 -1735028 -1735028 83450899 41330944 42119955 31375780 10744175 Corp. Event Revenue 900099 2726568 2030213 696355 Museum Restaurants 722310 1404639 1404639 Tax refund 930000 79073 79073 4210280 324739622 77693654 11552850 113468401 2086820 2086820 14968311 4139415 10082271 746625 77809541 58628863 13130871 6049807 8042541 5441131 2012255 589155 14811880 10020885 3705952 1085043 6518211 4409855 1630865 477491 1672361 1672361 578443 578443 60000 60000 12713051 12713051 22469378 13592151 6464734 2412493 8912303 7629837 1282466 15532461 14028136 1154137 350188 1875365 1875365 100000 100000 18246523 13607013 4291565 347945 3728347 3039051 268159 421137 157429 63531 91359 2539 8333081 8333081 42149093 35931019 6218074 3164879 3164879 ART ACQUISITION 19788805 19788805 EXHIBITION RELATED EXPE 5607213 5607213 TAX EXPENSE 2070205 2070205 DUES & SUBSCRIPTIONS 964526 736730 189444 38352 6613107 4481214 1800555 331338 298973874 216899834 67939461 14134579 8078607 6903227 129232436 128390955 34966847 28337225 7047799 9014859 18812118 17819245 11292735 12125461 1163667219 553973823 627797041 609693396 733635097 926602047 816984000 818821000 0 102460363 45764998 2490307043 2603472413 39184924 37679759 1304970 1994228 181898907 179183448 100000000 100000000 53743434 38714974 376132235 357572409 X 1206403497 1227463816 907771311 1018436188 2114174808 2245900004 2490307043 2603472413 X 25765748 95513481 10445967 X 0 1 X 1 1 1 X 166781071 98780348 94737177 108016214 122024717 590339527 166781071 98780348 94737177 108016214 122024717 590339527 145107617 445231910 17307903 19608122 20488548 23546519 37511800 118462892 944398 467421 413801 2725772 1971246 6522638 2916116 247566 1741496 1785847 1704322 8395347 723720404 251782508 0.61520 0.52580 X Schedule A, Part II, Line 10, Explanation of Other Income: Other Income - 2019 Amount: $ 2,916,116. 2020 Amount: $ 247,566. 2021 Amount: $ 1,741,496. 2022 Amount: $ 1,785,847. 2023 Amount: $ 1,704,322. Schedule A, Part II, Line 10: General Explanation - Other income includes gross income from fundraising and corporate events, ancillary revenue from the restaurant operations, and tax refunds received. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 60000 0 60000 0 216839833 0 284839294 0 1000000 0 250000 0 0 0 1000000 1000000 1000000 1000000 4000000 6000000 51150 51000 55800 60000 217950 250000 250000 250000 250000 1000000 1500000 X X X X 0 1080493857 79205431 112339292 75578621 1196459959 1011156858 64043215 79541671 74247887 1080493857 1086633813 54586579 -67233393 62830141 1011156858 891045788 64703512 211937510 81052997 1086633813 1198064000 131036416 15568915 453623543 891045788 0.15570 0.56260 0.28170 0 0 98499947 98499947 832924483 450675252 382249231 4919245 4199816 719429 196983320 99098755 97884565 30340224 30340224 609693396 Private Equity Securities 535702000 F Credit Securities 94364000 F Multi-Strat & Other 166555000 F Real Estate Securities 22200000 F 818821000 Pension and post investment retirement benefits 19663291 Lease Liability 19051683 38714974 Part III, Line 1a: The Museum's collections, acquired through purchase and contributions, are not recognized as assets on the consolidated statements of financial position. Purchases of collection items are recorded in the year in which the items were acquired as decreases in net assets without donor restrictions. Contributed collection items are not reflected in the consolidated financial statements. Proceeds from sale of works of art, which are reflected as increases in net assets with donor restrictions, are used primarily to acquire other items for the collection. Devoting Museum resources to the direct care of the works in the collection is essential to safeguard and preserve the quality of the works and extend their lifespan. Direct care of the collection may include, but is not limited to, providing specialized safe, secure and climate controlled storage and galleries spaces, protecting the works which require it from heat, humidity, theft, visitor handling, fire, dust, excessive lighting, water, pests, physical forces and other elements, as well as providing expert conservation, registration, cataloguing, audio visual, imaging, framing and documentation services. Part III, Line 4: The Museum is chartered as an educational institution whose collection of modern and contemporary art is made available to the public to encourage an ever-deeper understanding and enjoyment of such art by the broad local, national, and international audiences that it serves. In pursuit of this goal, the Museum has collected over 200,000 works of painting, sculpture, drawing, prints, illustrated books, photography, film, performance art, media, architecture, and industrial and graphic design. Through the leadership of its Board of Trustees and staff, the Museum strives to establish, preserve, and document a collection of the highest order that reflects the vitality, complexity and unfolding patterns of modern and contemporary art; present exhibitions and educational programs of unparalleled significance; sustain a library, archives and conservation laboratory that are recognized as international centers of research; and support scholarship and publications of preeminent intellectual merit. Part V, Line 4: The Museum's endowment funds consist of approximately 157 individual funds established for a variety of purposes, including art acquisitions, exhibitions, publications, educational and operating support. Its endowment includes both donor restricted endowment funds and funds designated by the Board to function as endowments. As required by Generally Accepted Accounting Principles, net assets associated with endowments funds, including funds designated by the Board to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions. The long term focus of the Museum's investment portfolio is to support the Museum's mission by providing a reliable source of funds for current and future use. The value of the Museum's investments have and will fluctuate in response to changing market conditions. Central America and the Caribbean Investment 292201831 Europe (Including Iceland & Greenland) Investment 70046607 0 0 0 0 0 0 362248438 0 362248438 1 0 1 1 1 0 Part I, Line 2: The Museum of Modern Art invests in domestic and foreign limited partnerships that may own an interest in a foreign corporation, passive foreign investment company, or foreign partnership. Nevertheless, the Museum's investment activities may not reach the thresholds required for filing the Forms 926, 5471, 8621 or 8865. To the extent such a form was completed, it has been filed with the Museum's Form 990-T. David Rockefeller Award Luncheon 2193469 2176069 17400 68127 0 82342 Party in the Garden 5447077 5270267 176810 316395 109220 961087 2 1325150 1298750 26400 125316 23749 269402 8965696 8745086 220610 509838 132968 1312831 1955637 -1735027 1 MoMA PS1 Contemporary Art Center Inc 46-01 23RD Street Long Island City NY 11101 237379091 501(c)(3) 2086820 0 Operating Support 1 Part I, Line 2: The Museum is the sole member of PS1 Contemporary Art Center, Inc (DBA MoMA PS1). In 2000 MoMA PS1 and the Museum entered into an affiliation to promote the study, knowledge, enjoyment and appreciation of modern and contemporary art through a collaborative program of exhibitions, research, special projects and other educational and curatorial activities. MoMA PS1 retained its separate corporate status and is a support corporation of the Museum with the Museum as its sole corporate member. The Museum has the right to appoint all members of the MoMA PS1 board of directors. MoMA PS1 and the Museum entered into a management assistance and services agreement whereby the Museum provides management assistance and service to MoMA PS1 in certain areas, including accounting and payroll, fundraising and development, coordination of MoMA PS1's information technology, insurance and legal affairs. X X 1 1 X X X X X 0 1 0 0 0 0 0 1 0 Glenn D Lowry Director/Ex-Officio Trustee 1064467 0 541719 0 3200 0 380205 0 365115 0 2354706 0 270860 0 Lou-Alan Fernandes Chief Investment Officer (Beg 01/23) 990326 0 500000 0 581 0 0 0 44900 0 1535807 0 0 0 James Gara COO/Assistant Treasurer 581423 0 350000 0 25700 0 127111 0 44065 0 1128299 0 47500 0 Beverly Morgan-Welch Sr. Deputy Dr of External Affairs 459130 0 212500 0 26208 0 19800 0 28987 0 746625 0 0 0 Gabriel Morrow Managing Director, Investments 436007 0 175000 0 23130 0 69800 0 28987 0 732924 0 50000 0 James Grooms General Counsel/Secretary 585401 0 0 0 21306 0 19800 0 25963 0 652470 0 0 0 Sarah Suzuki Associate Museum Director 475656 0 0 0 23130 0 77858 0 33547 0 610191 0 0 0 Ann Temkin Chief Curator-Painting & Sculpture 438120 0 0 0 2772 0 120365 0 45591 0 606848 0 0 0 Jean Savitsky Dir. Real Estate and Construction 438983 0 100000 0 2772 0 19800 0 37441 0 598996 0 0 0 Roxana Marcoci Senior Curator- Photography 326460 0 0 0 2390 0 213836 0 40492 0 583178 0 0 0 Emmanuel Plat Director, Merchandising 368120 0 100000 0 24306 0 22500 0 35301 0 550227 0 0 0 Christophe Cherix Chief Curator - Drawings and Prints 419183 0 0 0 13966 0 61425 0 47930 0 542504 0 0 0 Jan Postma Chief Financial Officer 443870 0 0 0 630 0 44546 0 44733 0 533779 0 0 0 Rajendra Roy Chief Curator - Film 400470 0 0 0 962 0 51012 0 40491 0 492935 0 0 0 Jesse Goldstine General Manager - Retail 380627 0 25000 0 18366 0 19800 0 40491 0 484284 0 0 0 Odessa Matsubara Chief Human Resources Officer 407847 0 0 0 11294 0 19327 0 44227 0 482695 0 0 0 Christy Thompson Sr. Deputy Dr of Exhibit. & Collect. 413937 0 0 0 966 0 19800 0 44228 0 478931 0 0 0 Tunji Adeniji Chief Facilities and Safety Officer 343359 0 0 0 25045 0 22500 0 27477 0 418381 0 0 0 Diana Pan Chief Technology Officer 354084 0 0 0 24185 0 22500 0 17124 0 417893 0 0 0 Stuart Comer Chief Curator - Media & Perf. Art 335174 0 0 0 1499 0 10215 0 27653 0 374541 0 0 0 Martino Stierli Chief Curator - Arch. and Design 283518 0 0 0 22978 0 18959 0 38502 0 363957 0 0 0 Michelle Kuo - Chief Curator at Large & Publisher (Beg 01/24) 195146 0 30000 0 275 0 12185 0 40534 0 278140 0 0 0 Part I, Line 1a As a condition of employment, the Museum requires the director to reside in the Museum's apartment on the premises in the Museum Tower in furtherance of the Museum's operations and mission and for the convenience of the Museum. Health club membership dues of the director are paid for by the Museum and included in the director's compensation. Part I, Lines 4b: Glenn Lowry received a supplemental retirement plan payment described in comment below. Part I, Line 7 Glenn Lowry - Director full-time employee, officer and ex-officio trustee. In 2023 Glenn Lowry earned $1,064,467 in base compensation. Column B (ii) includes a annual bonus of $469,719, a previously scheduled payment of a multi-year supplemental retirement plan, dating to 2014, of $72,000, for a total of $541,719. These amounts compare to $992,121 of base compensation and a annual bonus of $456,037 in 2022. Column C includes a 2024 accrual of $36,000 under the supplemental retirement plan to be paid next year. The following individuals listed received a bonus in calendar year 2023 based on meeting certain objective performance criteria/metrics or service requirements. These bonuses were authorized by management. The following individuals had no input into the awarding of their own bonuses: James Gara (Chief Operating Officer and Assistant Treasurer), Lou-Alan Fernandes (Chief Investment Officer), Gabriel Morrow (Managing Director, Investments), Jean Savitsky (Director of Real Estate and Construction), Jesse Goldstine (General Manager Retail), and Emmanuel Platt (Director Merchandising), Beverly Morgan-Welch (Senior Deputy Director of External Affairs), and Michelle Kuo (Chief Curator at Large & Publisher) Part II, Column (C): Amounts reported as deferred compensation, to the extent they include evaluation increases, are based on actuarial calculations done for June 30, 2024 as opposed to calendar year 2023. Compensation Reporting Generally: All compensation reported on Form 990 in Part VII and Schedule J, including bonuses, are based on calendar year 2023, pursuant to employee contracts with the persons listed. A The Trust for Cultural Resources of City of New York Series 2016 911882413 649717TE5 2016-08-02 330117210 Finance new money project and refund prior issues 0 0 0 A 110725000 332389580 1723748 152227251 178403305 35277 2019 0 1 1 1 A 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 A 1 Schedule K, Part I, Column e: The difference between Part I(e) and Part II, Line 3 is due to interest earnings on bond proceeds. Schedule K, Part I, Column f: The bonds refunded the Borrower's Series 2008-One-A (issued 7/23/08) and Series 2012-One-D (issued 5/1/12). Schedule K, Part III, Line 4: The refunding portion of the bonds refunded prior bonds issued before January 1, 2003. The new money portion of the bonds financed a new money project, which was placed in service in fiscal year 2020. The bonds did not finance any private uses. Schedule K, Part III, Line 7: As provided in treasury regulation section 1.141-4(c)(2)(i)(b), the amount of private payments taken into account under the private payment test may not exceed the amount of private business use and/or unrelated trade or business use. Accordingly, the amount of private payments for the reporting period does not exceed the amount stated in Part III, Line 6. The organization has not undertaken an analysis of the private security test with respect to the bonds, as the level of private business use and/or unrelated trade or business reported in Part III, Line 6, is not in excess of amounts permitted under section 145 of the code. Schedule K, Column A, Part IV, Line 2c: The rebate computation for series 2016-One-E was completed on June 6, 2022. X 204 0 Not Applicable X 161 8764656 Selling Price 15 0 1 1 Part I, Column (b): Nonmonetary contributions are recorded at estimated fair value at date of receipt if the Museum received certain goods and services that meet criteria under generally accepted accounting principles for recognition as contributions. In accordance with accounting standards codification, the Museum does not treat donations of art as revenue or record these artworks on the statement of financial position as these artworks are used to support the Museum's educational mission. Proceeds from the deaccession of artwork are used primarily to acquire and maintain other items for the collection. Schedule M, Part I, Line 1: Loans of art work to the Museum. From time to time Trustees of the Museum may loan artworks to the Museum for a limited duration of time for specific exhibitions. Schedule M, Part I, Line 9: Gifts of stock from the same person, on the same trade date, are considered in the aggregate as one gift. Part I, Line 32b: A third party bank is authorized to sell donated securities as soon as possible upon confirmation by the Museum. The Museum also contracts periodically with various auction houses, galleries and other institutions to facilitate approved deaccessioned art work. Form 990, Part I, Line 1, Description of Organization Mission: 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. Form 990, Part III, Line 1: 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. Form 990, Part III, Line 4a: 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. Form 990, Part IV, Line 30: 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. Form 990, Part VI, Section B, line 11b 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. Form 990, Part VI, Section B, line 12c 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. Form 990, Part VI, Section B, line 15 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. Form 990, Part VI, Section C, line 19 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. Form 990, Part VII: 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. Form 990, Part XI, line 9: 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. AFE LLC 11 West 53rd Street New York NY 10019 202379359 Real Estate NY -299881 2243306 Museum of Modern Art Modern and Contemporary Art Support Corp 11 West 53rd Street New York NY 10019 133910972 Receive, acquire & hold title in property DE 501(c)(3) Line 12a, I Museum of Modern Art 1 PS1 Contemporary Art Center Inc 46-01 21st Street New York NY 11101 237379091 Contemporary Art Exhibitions NY 501(c)(3) Line 7 Museum of Modern Art 1 The International Council of The Museum of Modern Art 11 West 53rd Street New York NY 10019 136143744 Support Corporation NY 501(c)(3) Line 12a, I N/A 0 MoMA Auxiliaries 11 West 53rd Street New York NY 10019 133975341 Manage Retail Operation DE 501(c)(3) Line 12a, I Museum of Modern Art 1 Alta Cultura 11 West 53rd Street New York NY 10019 134114902 General Business Corporation DE N/A C 1.00000 1 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 1 1 1 1 The International Council of The Museum of Modern Art C 924520 FMV The International Council of The Museum of Modern Art O 502786 Cost The International Council of The Museum of Modern Art Q 173199 Cost The International Council of The Museum of Modern Art R 360883 Cost PS1 Contemporary Art Center Inc L 788102 Cost PS1 Contemporary Art Center Inc R 1246820 Cost MoMA Auxiliaries P 1995315 Cost PS1 Contemporary Art Center Inc D 2000000 FMV PS1 Contemporary Art Center Inc B 840000 Cost The International Council of The Museum of Modern Art S 74718 Cost Schedule R, Part I: There is a $2 million line of credit guaranteed by MoMA. Schedule R, Part V, Line 1R: The Museum is under an agreement with the International Council of the Museum of Modern Art and MoMA PS1 Contemporary Art Center to invest and manage the Council's and MoMA PS1's endowment funds. The amounts transferred for investment and spending from these endowments are reflected in Part V.