Minneapolis Society of Fine Arts
2400 3rd Ave S, Minneapolis, MN · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $57,720,775 | $51,661,467 | $429,768,070 |
| FY2024 | $49,760,749 | $46,956,667 | $405,120,972 |
| FY2023 | $63,903,670 | $50,782,025 | $379,113,695 |
| FY2022 | $54,407,955 | $42,039,033 | $345,559,082 |
| FY2021 | $52,759,804 | $43,096,323 | $383,401,428 |
| FY2020 | $33,387,796 | $40,407,912 | $316,542,565 |
| FY2019 | $48,941,326 | $49,193,754 | $318,891,428 |
| FY2018 | $45,502,235 | $42,967,238 | $327,901,324 |
| FY2017 | $34,931,952 | $41,681,111 | $323,007,838 |
| FY2016 | $36,586,649 | $39,178,897 | $308,211,817 |
| FY2015 | $58,090,964 | $42,814,209 | $324,408,146 |
| FY2014 | $50,518,978 | $35,913,392 | $314,598,473 |
| FY2013 | $38,613,628 | $39,669,187 | $283,715,505 |
| FY2012 | $33,422,323 | $32,888,786 | $271,051,209 |
Form 990 filings
The returns filed by Minneapolis Society of Fine Arts (EIN 41-0693915), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $37,323,816 | 65% |
| Program service revenue | $2,327,607 | 4% |
| Other revenue | $18,069,352 | 31% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $40,693,461 | 79% |
| Management & general | $7,044,535 | 14% |
| Fundraising | $3,923,471 | 8% |
What the numbers show
- Contributions & grants made up 65% of total revenue in FY2025.
- Program services accounted for 79% of functional expenses, management & general 14%, and fundraising 8%.
- 79% of functional expenses went to program services in FY2025. That is higher than 61.9% of 21 Arts, Culture & Humanities organizations in MN.
- Net assets covered about 99.8 months of expenses at the end of the reporting year. That puts it in the 90th percentile among 776 Arts, Culture & Humanities organizations in MN.
- Total revenue was higher than 99.5% of 782 Arts, Culture & Humanities organizations in MN.
- Total revenue rose from $33,422,323 in FY2012 to $57,720,775 in FY2025. Revenue increased in 9 and decreased in 4 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 5 of 14 reported years (FY2013, FY2016, FY2017, FY2019, FY2020).
- The highest revenue on record here is $63,903,670 in FY2023.
- Net assets grew from $271,051,209 to $429,768,070 between FY2012 and FY2025.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
ENRICHING COMMUNITY BY COLLECTING, PRESERVING & MAKING ACCESSIBLE OUTSTANDING WORKS OF ART
IRS status
| Ruling year | 1967 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | A510 — Arts, Culture & Humanities (in MN) |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity). |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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