Whitney Museum of American Art

Analysis

Whitney Museum of American Art is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in June 1936, 90 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, Whitney Museum of American Art reported income of $100.9m and spending of $86.7m, spending 86% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $95.0m to $100.9m (+6.2%), an average of +1.5% a year. The sharpest change came in the year to June 2022, when income rose by 63%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Whitney Museum of American Art 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 99th percentile within NY. Charities of a similar size with the same main cause include Convergent Research Inc ($100.2m), Cleveland Museum of Art ($102.9m) and American Institute of Physics Incorporated ($100.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 60% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $3.8m (4.4% of expenses). Other salaries and wages came to $27.2m. At year end it held assets of $972.8m against liabilities of $125.8m, net assets of $847.0m. It reported 535 employees.