Minnesota Museum of American Art

What it reported doing in 2024

Collections: in this fiscal year, the m added 86 works to the permanent collection it holds in public trust. These recent acquisitions have added depth to the m's permanent collection, providing opportunities to tell stories, learn more about the world we live in, and add fresh perspectives on art, history, and various cultures. The m maintained a tradition of purchasing artwork from the fine arts exhibition at the Minnesota state fair.anonymouswarning twin cities police, 2020screenprint on papergift of mary and bob merskyvarious artistsburlesque of north america print suite, various datesscreenprint on papergift of mary and bob merskyleslie barlowat home (stressed or happy, i just be laying out), 2024oil, acrylic, and quilt on canvaspurchase, state fair fundmarc bellornate investment banker, 2016screenprint on papergift of mary and bob merskyhazel belvorose tree for joe, 1976oil on canvaspurchase, acquisition fundhazel belvopolly and anne, 1972graphite and gold leaf on paperpurchase, acquisition fundhazel belvoafter the manifesto, 1979gold leaf and pencil on papergift of hazel belvokim bensonmatrix hold, 2024oil and metallic leaf on lace and canvaspurchase, funds from bob and mary merskybrown bart babypgalo, rmpalo, tmalo (hit it, break it, take it), 2020screenprint on papergift of mary and bob merskylinda christiansonceramic tray, n.d.ceramicsgift of tom arnesonbroken crowhousing crisis (diptych) john grider and mike fitzsimmons, 2010screenprint on papergift of mary and bob merskyfrank buffalo hydecongenital minotaur # 2, 2021acrylic on canvaspurchase, acquisition fundmike davistools of the trade: video game editionscreenprint on papergift of mary and bob merskymike davisgraffiti action playset, 2020hand-drawing and screenprint on papergift of mary and bob merskybrian frinkthe moon within, 2019oil on canvaspurchase, acquisition funddon getsugthe watkins man, 1961, printed 2024archival pigment printpurchase, funds from bob and mary merskydon getsuggirl with the rope, 1961, printed 2024archival pigment printpurchase, funds from bob and mary merskysam gilliamfrankfurt, 1976monotype on handmade paper gift of andy curriebill gossmancasserole, 2010swood-fired stoneware, glazed on inside onlypurchase, acquisition fundbill gossmanteapot, n.d.wood-fired stoneware, glazed inside and portions of outsidepurchase, acquisition fundbill gossmantown hall brewery growler, c. 2000wood-fired stoneware, glazed on insidepurchase, acquisition fundbill gossmanudu based on traditional nigerian drum, n.d.wood-fired stonewarepurchase, acquisition fundbill gossmansculptural form, 2015glazed wood-fired stonewarepurchase, acquisition fundbill gossmancovered jar, n.d.wood-fired glazed porcelainpurchase, acquisition fundarmando gutierrezstill life, c. 1990s oil on canvasgift of andy curriearmando gutierrezstill life, c. 1990s oil on canvasgift of andy currieandres guzmantelapsare, 2024screenprint on papergift of mary and bob merskymaiya lea hartmanyou brought the sunshine, 2024acrylic and airbrush on panelpurchase, acquisition fundalexa horochowskithe mason, 2024concrete, gypsum, limestone, steelpurchase, funds from bob and mary merskytom jones (ho-chunk)naawahuu/forster nash, 2015digital photograph with glass beads and shell beadspurchase, acquisition fundtom jones (ho-chunk)jim funmaker with grandchild, 1999silver gelatin printpurchase, acquisition fundrachel king (red lake ojibwe)ribbon skirt, shirt, and belt, 2024satin, sequins, 24-carat gold beads, split grain leather (dyed), conchos, cotton, satin ribbons, appliqus (satin and polyester)purchase, acquisition fundwalter labatte, jr.canceg'a cistinna (hand drum), 2024redwood, hide, and paintgift of walter labatte, jr.rochelle lame bulllower sioux pottery (tall beadwork pot), 2024makacega (earthenware)purchase, acquisition fundrochelle lame bulllower sioux pottery (round scratch pot), 2024makacega (earthenware)purchase, acquisition fundsteve and becky lloydsgraffito porcelain vase, c. 2005porcelaingift

Financial Efficiency

• Mission deployment rate: 22.8%; rating input score 23
• Program expense ratio: 75.3%; rating input score 75
• Fundraising efficiency: $22.25 raised per $1 spent on fundraising; rating input score 60; 60th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 2 of 6 controls in place; rating input score 33
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
• Governance controls: 8 of 8 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 70.1%; rating input score 97; 97th percentile among comparable filings
• Total-asset coverage ratio: 5.45; rating input score 86; 86th percentile among comparable filings
• Liabilities to assets ratio: 0.07; rating input score 79; 79th percentile among comparable filings
• Officer compensation ratio: 6.1%; rating input score 42; 42nd percentile among comparable filings

Growth

• Program expense growth: 10.6% per year; rating input score 100; 73rd percentile among comparable filings
• Revenue growth: 10.4% per year; rating input score 100; 75th percentile among comparable filings
• Asset growth: 11.4% per year; rating input score 100; 70th percentile among comparable filings