Brooklyn Institute of Arts and Sciences

Analysis

Brooklyn Institute of Arts and Sciences is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in June 1935, 91 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 publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Brooklyn Institute of Arts and Sciences reported income of $50.9m and spending of $62.1m, spending 122% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $46.2m to $50.9m (+10%), an average of +2.5% a year. The sharpest change came in the year to June 2021, when income rose by 103%. Over the whole period it spent 82% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Brooklyn Institute of Arts and Sciences sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within NY. Charities of a similar size with the same main cause include Our Rescue ($50.4m), Cincinnati Symphony Orchestra ($51.1m) and New York Shakespeare Festival ($50.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 77% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $3.1m (5.0% of expenses). Other salaries and wages came to $24.7m. It paid $256k in professional fundraising fees. At year end it held assets of $378.1m against liabilities of $39.2m, net assets of $338.9m. It reported 572 employees.