Financial Report

The consolidated financial statements of the Milwaukee Art Museum (MAM) and its subsidiary, Museum Center Park (MCP), ended fiscal year 2022 with combined net assets of approximately $165 million. At year-end, the total market value of investments was $62.3 million, compared with $69.9 million as of 2021. The majority of the decrease was due to declines in the market. MCP had a debt balance of $1.6 million as of August 31, 2022.

With the ease in the COVID-19 pandemic, the Museum remained open the entire fiscal year, from September 1, 2001, to August 31, 2022, and more people started visiting again. The Museum welcomed 168,376 guests throughout the year. School tours and in-person programming resumed, and the Museum Café reopened. The result: Attendance and earned revenue more than doubled from the prior year.

Looking forward to fiscal 2023, the Museum has a balanced budget and, through great discipline, is in a position of financial strength to serve and inspire the Milwaukee community and beyond.