Minneapolis College of Art & Design
2501 Stevens Ave, Minneapolis, MN · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $40,585,478 | $46,504,971 | $81,674,155 |
| FY2024 | $45,829,228 | $44,299,244 | $80,034,729 |
| FY2023 | $36,079,383 | $42,699,410 | $74,677,927 |
| FY2022 | $41,322,391 | $41,458,343 | $81,439,728 |
| FY2021 | $37,306,489 | $36,426,772 | $89,394,330 |
| FY2020 | $37,447,640 | $36,707,484 | $78,147,211 |
| FY2019 | $36,897,761 | $35,685,405 | $77,535,492 |
| FY2018 | $36,922,051 | $33,802,600 | $78,386,106 |
| FY2017 | $34,379,744 | $32,774,560 | $74,855,197 |
| FY2016 | $32,750,181 | $30,881,172 | $68,676,644 |
| FY2015 | $50,977,097 | $28,840,079 | $69,323,250 |
| FY2014 | $30,752,672 | $27,890,066 | $65,601,311 |
| FY2013 | $28,544,476 | $26,422,545 | $56,348,936 |
| FY2012 | $27,256,061 | $25,966,808 | $46,641,364 |
Form 990 filings
The returns filed by Minneapolis College of Art & Design (EIN 41-1607453), 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 listed sources |
|---|---|---|
| Contributions & grants | $2,119,088 | 5% |
| Program service revenue | $38,811,523 | 95% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $37,525,203 | 81% |
| Management & general | $8,244,343 | 18% |
| Fundraising | $735,425 | 2% |
What the numbers show
- Program service revenue was the largest of the listed revenue sources in FY2025.
- Program services accounted for 81% of functional expenses, management & general 18%, and fundraising 2%.
- 81% of functional expenses went to program services in FY2025. That is higher than 21.9% of 73 Education organizations in MN.
- Net assets covered about 21.1 months of expenses at the end of the reporting year. That puts it in the 63rd percentile among 1313 Education organizations in MN.
- Total revenue was higher than 98% of 1323 Education organizations in MN.
- Total revenue rose from $27,256,061 in FY2012 to $40,585,478 in FY2025. Revenue increased in 8 and decreased in 5 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 3 of 14 reported years (FY2022, FY2023, FY2025).
- The highest revenue on record here is $50,977,097 in FY2015.
- Net assets grew from $46,641,364 to $81,674,155 between FY2012 and FY2025.
- Contributions and grants made up 18% of revenue in FY2012 and 5% in 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
EMBOLDEN CREATIVE LEADERS TO TRANSFORM SOCIETY THROUGH EQUITY, EMPATHY, & IMAGINATION.
IRS status
| Ruling year | 1988 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | B430 — Education (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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