Albertine Foundation

Analysis

Albertine Foundation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in June 1956, 70 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Albertine Foundation reported income of $6.9m and spending of $4.5m, leaving 34% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.8m to $6.9m (+278%), an average of +39% a year. The sharpest change came in the year to December 2021, when income rose by 205%. Over the whole period it spent 72% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Albertine Foundation sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 91st percentile within NY. Charities of a similar size with the same main cause include Opera America Inc ($6.9m), Biogenerator ($6.9m) and Virginia Symphony Orchestra ($6.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $117k (2.6% of expenses). Other salaries and wages came to $68k. At year end it held assets of $8.0m against liabilities of $219k, net assets of $7.8m. It reported 2 employees.