The Pierpont Morgan Library

EIN: 131624146 501(c)(3) Education

New York, NY

Total Revenue
$55,087,598
Total Expenses
$41,926,115
Total Assets
$446,582,375
Net Assets
$426,442,469
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Financial Trends

Organization Details

Formation Year
1924
Legal Domicile
NY
Principal Officer
Colin B Bailey
Phone
2126850008
Tax Period
2024-04-01 to 2025-03-31

The Pierpont Morgan Library, founded in 1924, is a mid-sized nonprofit in the Education sector that reported $55.1M in total revenue in fiscal year 2024. Revenue decreased 6% compared to the prior year. The organization ran a surplus of $13.2M, a strong 24% operating margin.

Mission

The Morgan Library & Museum celebrates and shares the history and process of human creativity from antiquity to the present day through the preservation, study, and interpretation of a dynamic and growing collection.

Program Service Accomplishments

Program 1
Expenses: $21,321,690 Revenue: $4,706,479

Curatorial: The Morgan Library & Museum ("the Morgan") occupies a midtown Manhattan campus comprised of three landmarked buildings that are joined by pavilions constructed of steel-and-glass panels...

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Curatorial: The Morgan Library & Museum ("the Morgan") occupies a midtown Manhattan campus comprised of three landmarked buildings that are joined by pavilions constructed of steel-and-glass panels designed by renowned architect Renzo Piano. The Morgan houses one of the world's greatest collections of artistic, literary, musical, and historical works. Included in its holdings are original scores of Mozart and Beethoven, drawings by Rembrandt and Rubens, medieval and Renaissance works, three Gutenberg Bibles, literary manuscripts by Dickens and Twain, and five-thousand-year-old carvings from the countries of ancient Western Asia. The Morgan recorded 308,582 visitors over the fiscal year, primarily for a wide variety of changing exhibitions encompassing (continued on Schedule O)works from the Morgan's permanent collection and from other museums and libraries in the U.S. and abroad. Exhibitions during fiscal year 2025 included "Beatrix Potter: Drawn to Nature;" "Walton Ford: Animal Studies and Sketches;" "Belle da Costa Greene: A Librarian's Legacy; and "Franz Kafka." The Morgan's curators plan the exhibitions, oversee the permanent collection, prepare exhibition and collection-related catalogs, organize symposia, host graduate seminars, and provide research and other services to the scholarly community.The extraordinary group of medieval and Renaissance manuscripts; printed books and bindings; literary, historical, and music manuscripts; drawings and prints; and ancient cylinder seals that J. Pierpont Morgan brought together were among the first important collections of their kind in America and form what is today the core of the Morgan's holdings. (The collection now includes photography and modern and contemporary drawings as well.) In overall quality and importance, these collections are among the finest in the world, distinguished by the high percentage of items that are unique or exceptionally rare. One of only a handful of American institutions devoted to these specialized areas, the Morgan maintains an active acquisitions program and now holds several hundred thousand items in its collection.The Morgan's Drawing Institute is devoted to the interpretation, conservation, and theory of old master and modern drawing with the goal of stimulating new lines of investigation and discourse. The Drawing Institute supports research through annual fellowships; publications; small, focused exhibitions; and an ongoing series of symposia, seminars, and lectures.

Program 2
Expenses: $5,090,493 Revenue: $289,702

Library and Museum Services: The Morgan Library & Museum is one of nineteen independent research libraries in the United States and, as such, makes its collections available to qualified researchers...

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Library and Museum Services: The Morgan Library & Museum is one of nineteen independent research libraries in the United States and, as such, makes its collections available to qualified researchers for study on-site in the Sherman Fairchild Reading Room and the Drawing Study Center. An online catalog of the collections is accessible at www.themorgan.org and assists researchers both on-and off-site. Active digitization and publication programs help to extend the reach of the Morgan's scholarly services and support study of the collections.The Morgan has had professional paper and book conservation facilities since the 1950s, when they were among the first such labs in the United States. The Morgan's conservation facilities (continued on Schedule O) were dramatically enhanced with the 2002 completion of the Thaw Conservation Center. The Morgan's conservators oversee the preservation of the collections and also undertake surveys and treatment projects of discrete collection areas. The collections consist almost entirely of works on paper and related porous supports (vellum, parchment, papyri), and the conservators have developed special expertise in the conservation, restoration, and repair of such objects. Both a working and teaching facility, the Thaw Center receives requests for assistance from institutions in the United States and abroad. It offers fellowships in conservation techniques and practices.

Program 3
Expenses: $4,510,900 Revenue: $173,730

Public Programs: During fiscal year 2025, the Morgan offered a variety of programs to both onsite and online visitors. This included 44 programs for adults onsite, attracting 5,571 attendees to a...

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Public Programs: During fiscal year 2025, the Morgan offered a variety of programs to both onsite and online visitors. This included 44 programs for adults onsite, attracting 5,571 attendees to a diverse array of lectures, concerts, performances, symposia, conversations, workshops, festivals, films, and tours. Additionally, 505 daily highlights and special exhibition tours drew a total of 11,814 people. Online programs continued with 26 programs, attracting 2,547 attendees worldwide to short courses, lectures, and discussions. The Morgan's school programs offered both in-person and virtual activities, engaging 7,855 participants in K-12 student and teacher programs; 3,503 participants in family and 37 teen programs; and 322 college students, spanning diverse communities.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $29,030,601
Program Service Revenue $5,459,427
Investment Income $19,657,249
Other Revenue $940,321
TOTAL REVENUE $55,087,598

Expense Breakdown

Grants Paid $108,048
Salaries & Benefits $16,379,272
Fundraising Expenses $3,240,636
Program Expenses $33,368,255
Other Expenses $25,438,795
TOTAL EXPENSES $41,926,115

Year-over-Year Comparison

2024 2023 Change
Revenue $55,087,598 $58,672,728 -0.1%
Expenses $41,926,115 $34,392,554 +0.2%
Net Income $13,161,483 $24,280,174 -0.5%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
22
Independent Members
21
Employees
268
Volunteers
46

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
9
$1,652,987
Total Directors
22
$896,039
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
G Scott Clemons Co-President 5.00
Officer Director
$0 $0 $0
Robert King Steel Co-President 5.00
Officer Director
$0 $0 $0
Martha McGarry Miller Vice President 3.00
Officer Director
$0 $0 $0
Clement C Moore II Vice President 3.00
Officer Director
$0 $0 $0
George L K Frelinghuysen Treasurer 3.00
Officer Director
$0 $0 $0
Patricia Morton Secretary 3.00
Officer Director
$0 $0 $0
Mohit Assomull Trustee 1.00
Director
$0 $0 $0
Allison Binns Trustee 1.00
Director
$0 $0 $0
Susanna Borghese Trustee 1.00
Director
$0 $0 $0
Karen B Cohen Trustee 1.00
Director
$0 $0 $0
Martha J Fleischman Trustee 1.00
Director
$0 $0 $0
Frederick J Iseman Trustee 1.00
Director
$0 $0 $0
Jerker M Johansson Trustee 1.00
Director
$0 $0 $0
Eric L Motley Trustee 1.00
Director
$0 $0 $0
Peter Pennoyer Trustee 1.00
Director
$0 $0 $0
Katharine J Rayner Trustee 1.00
Director
$0 $0 $0
Annette de la Renta Trustee 1.00
Director
$0 $0 $0
Donna Perret Rosen Trustee 1.00
Director
$0 $0 $0
Joshua W Sommer Trustee 1.00
Director
$0 $0 $0
Rachel R Stern Trustee 1.00
Director
$0 $0 $0
Alyce Williams Toonk Trustee 1.00
Director
$0 $0 $0
Colin B Bailey Director 35.00
Officer Director
$772,730 $123,309 $896,039
Kristina W Stillman Dir. of Fin./Adm & Asst. Treasurer 35.00
Officer
$345,857 $75,844 $421,701
Jessica B Ludwig Deputy Dir.& Asst.Secretary 35.00
Officer
$286,561 $48,686 $335,247
John J Marciari Dir. of Curatorial Affairs 35.00
Highest
$203,203 $35,832 $239,035
Mary Schlitzer Controller 35.00
Highest
$197,744 $48,944 $246,688
Gilbert Parilla Engineer 35.00
Highest
$169,805 $13,652 $183,457
Maria Fredericks Sherman Fairchild Head of Thaw Ctr. 35.00
Highest
$169,460 $46,223 $215,683
Lauren Stakias to 102024 Dir. of Institutional Advancement 35.00
Highest
$243,799 $24,967 $268,766
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $55,087,598 $42,662,741 $445,845,749 $12,424,857
2025 $55,087,598 $41,926,115 $446,582,375 $13,161,483
2024 $58,672,728 $34,392,554 $435,664,971 $24,280,174
2023 $23,737,274 $31,437,927 $386,483,637 $-7,700,653
2022 $59,153,120 $26,123,983 $416,332,166 $33,029,137
2021 $25,823,209 $22,832,553 $418,437,020 $2,990,656
2020 $30,703,871 $28,143,549 $345,611,294 $2,560,322
2019 $35,929,819 $27,775,744 $370,490,806 $8,154,075
2018 $43,314,751 $26,070,973 $367,845,999 $17,243,778
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