Sterling & Francine Clark Art Inst

Analysis

Sterling & Francine Clark Art Inst is a registered charity in United States, based in Williamstown, MA. It received its IRS tax-exemption ruling in September 1951, 75 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Sterling & Francine Clark Art Inst reported income of $10.7m and spending of $31.6m, spending 294% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $26.9m to $10.7m (-60%), an average of -21% a year. The sharpest change came in the year to June 2021, when income dropped by 70%. Over the whole period it spent 183% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Sterling & Francine Clark Art Inst sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within MA. Charities of a similar size with the same main cause include Barnes Foundation ($10.7m), United States Artists Inc ($10.7m) and Geological Society of America Inc ($10.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 72% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $1.1m (3.6% of expenses). Other salaries and wages came to $6.9m. It paid $349k in professional fundraising fees. At year end it held assets of $657.7m against liabilities of $82.7m, net assets of $575.0m. It reported 184 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.