[1] What would become MoMA PS1 was founded in 1971 by Alanna Heiss as the Institute for Art and Urban Resources Inc.,[2] an organization with the mission of turning abandoned, underutilized buildings in New York City into artist studios and exhibition spaces.

1 Contemporary Art Center in a deserted Romanesque Revival public school building, significantly increasing the organization's exhibition and studio capacity.

[3] In October 1997, P.S.1 Contemporary Art Center reopened to the public after a three-year, $8.5 million renovation project designed by Los Angeles-based architecture firm Frederick Fisher & Partners.

[4][5][6] The building's facilities were increased from 84,000 to 125,000 square feet (7,800 to 11,600 m2) in order to include a large outdoor gallery, a dramatic entryway, and a two-story project space.

Collaborative programs of exhibitions, educational activities, and special projects allow both institutions to draw on their respective strengths and resources and to continue shaping a cultural discourse.

[16] Following a longer than initially expected closure for the coronavirus pandemic,[17][18] on April 13, 2020, MoMA PS1 told its employees there would be furloughs due to the museum facing its "most serious financial crisis" ever, with impact to be felt "for years to come," according to director Kate Fowle.

[21] For Rooms, the sculptor Alan Saret cut a tiny hole in one wall, creating an almost heavenly aureole of light at one end of the third-floor hallway.

[6] The museum has featured the works of the artists Janet Cardiff, David Hammons, Kimsooja,[22] Hilma af Klint, Donald Lipski, John McCracken, Dennis Oppenheim, Michelangelo Pistoletto, Alan Saret, Katharina Sieverding, Keith Sonnier, Michael Tracy, Franz West, Maria Lassnig, Judy Rifka, and Peter Young.

[24] Many exhibitions organized by MoMA PS1 travel to museums in the United States and abroad, including collaborations with Kunst-Werke Institute for Contemporary Art in Berlin.

Highlights from the series include a notable group of international DJs and live music ensembles: DJ Harvey, Groove Collective, Afrika Bambaataa, Mad Professor, Richie Hawtin, François K, Fischerspooner, Kid Koala, Arto Lindsay, Scissor Sisters, Luke Vibert, Solange, Jamie XX, Grimes, Arca, Black Dice, Four Tet, DJ Premier, Derrick May, Venus X, Cardi B, Lizzo, and many more.

[46] In 2020, an open letter by artists asked the museum to remove Larry Fink and Leon Black from the MoMA PS1 board for their investment history.