Montreal Museum Of Fine Arts
Montreal, QC H3G 1J5
Executive Director: Nathalie Bondil
Board Chair: Brian Levitt
Charitable Reg. #: 11904 9526 RR0001
Grade: B+The grade is based on the charity's public reporting of the work it does and the results it achieves.
Need for Funding
Cents to The Cause
Full-time staff #157
Avg. Compensation $78,488
Top 10 Staff Salary Range
|$300k - $350k||0|
|$250k - $300k||2|
|$200k - $250k||1|
|$160k - $200k||0|
|$120k - $160k||3|
|$80k - $120k||4|
|$40k - $80k||0|
About Montreal Museum Of Fine Arts:
The Montreal Museum of Fine Arts (MMFA) was founded in 1860. Its mission is to reach the widest and most diverse public possible, providing them with full access to the world’s artistic heritage. The MMFA’s exhibitions and collections grew in F2015, which was a record year for acquisitions. The 670 works acquired during the year brought the permanent collection up to 41,332 works. The Museum also offers many educational and art therapy programs for schools, families and the community.
The Montreal Museum of Fine Arts welcomed 1,086,900 visitors in F2015, making it the largest art museum in Canada. The Museum also had 306,844 participants in its educational and cultural activities during the year. This represented a 32% increase in the number of participants. In F2015, the MMFA sent four travelling exhibitions to six cities, attracting almost 500,000 visitors. The revenue from the travelling exhibitions is used to increase efficiency by decreasing the net cost of the exhibitions.
In F2015, the MMFA conducted an analysis in conjunction with McKinsey & Company on the museum’s ongoing performance and its impact on the economy and tourism. The study found that the museum influences more than 100,000 tourists in choosing their destinations. A third of the MMFA’s visitors are tourists spending at least one night in Montreal. The report also showed that the MMFA generates $100m in annual benefits for Québec.
The consolidated Montreal Museum of Fine Arts and MMFA Foundation is a big charity, with $13.6m in donations in F2015. The MMFA also receives $15.8m (30% of its total revenues) from government funding. Its administrative costs are 16% of revenues, falling within a reasonable range. The MMFA did not report its fundraising costs in its audited financial statements. Using reported CRA data, the MMFA’s fundraising costs were 7% of donations in F2015, falling from 12% in F2013. The consolidated charity has funding reserves of $25m, of which $2m of the MMFA Foundation’s reserves are donor-endowed. No breakdown is provided for the MMFA’s donor-endowed funds.
This charity report is an update that is being reviewed by the Montreal Museum of Fine Arts. Changes and edits may be forthcoming.
Updated on May 10, 2016 by Lynn Tay.
Financial RatiosFiscal year ending March
|Administrative costs as % of revenues||16.0%||9.9%||16.2%|
|Fundraising costs as % of donations||6.7%||5.8%||12.4%|
|Program cost coverage (%)||92.8%||71.3%||27.0%|
Summary Financial StatementsAll figures in $000s
|Goods in kind||5,825||29,174||18,436|
|Fees for service||8,828||9,349||5,873|
|Business activities (net)||1,438||1,391||1,373|
|Cash flow from operations||17,967||44,840||23,528|