MILWAUKEE ART MUSEUM INC
Mission Statement
The mission of the Milwaukee Art Museum is to enrich life by advancing the appreciation and understanding of visual arts through collection, preservation, display, research, education, and interpretation. MAM has four primary objectives: - Sustainability of the institution for future generations, both in terms of collection growth and maintenance - Providing temporary exhibitions which add depth and breadth to what is offered through the permanent collection by bringing works of art to Milwaukee that many might not otherwise have the opportunity to see- Diversification of audience through collaborative projects with other arts and educational institutions, targeted marketing efforts, outreach programs and efforts to make art accessible to visitors who might have less exposure to the arts- Educational programming to add context and meaning to the art in the permanent collection and traveling exhibitions, at a multitude of levels to appeal to the full range of visitors
Financial Overview — FY 2025
Compared with Peers
FY 2025| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
71.6% | 79.0% |
P10P90
|
Bottom quarter |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
18.0% | 13.2% |
P10P90
|
Below median |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
10.4% | 6.4% |
P10P90
|
Bottom quarter |
|
Fundraising efficiency
Fundraising expenses / gross fundraising income
· lower is better
|
6437.3% | 754.2% |
P10P90
|
Bottom quarter |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
78.2 mo | 30.7 mo |
P10P90
|
Top quarter |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
2.1% | 13.4% |
P10P90
|
Top quarter |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
61.4% | 66.5% |
P10P90
|
Above median |
|
Revenue growth
Year over year revenue growth
|
37.8% | 8.4% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
8.4% | 4.9% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
16.7% | 5.5% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2025 | $29.8M | $24.8M | $161.4M | 71.6% | 280 |
| 2024 | $21.6M | $22.9M | $153.4M | 71.7% | 330 |
| 2023 | $22.8M | $20.8M | $153.4M | 71.2% | 323 |
| 2022 | $18.7M | $19.0M | $148.2M | 75.3% | 234 |
| 2021 | $17.7M | $16.5M | N/A | — | 286 |
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