The museum has collections of art, artifacts, documents, photographs, tools, clothing and furniture from the almost two-century history of the LDS Church.

[4][5] The museum closed in October 2014 for a year-long refurbishment and remodeling of the first-floor exhibits with a renewed emphasis on Jesus Christ and the faith's founder, Joseph Smith.

[7] The museum also contains the printing press that produced the first edition of the Book of Mormon in 1830 and a chair that carpenter Brigham Young built before joining the Church through baptism in 1832.

The competition is held every 3–4 years for artists worldwide to submit works of art in assorted mediums around specific church and gospel themes.

[10] A ceremony honoring artists whose works were purchased for the permanent collection or earned awards of merit is held as part of each competition.