Albany Institute of History and Art

Analysis

Albany Institute of History and Art is a registered charity in United States, based in Albany, NY. It received its IRS tax-exemption ruling in January 1942, 84 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 December 2023, Albany Institute of History and Art reported income of $1.2m and spending of $2.2m, spending 181% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.6m to $1.2m (-53%), an average of -17% a year. The sharpest change came in the year to December 2023, when income dropped by 42%. Over the whole period it spent 107% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Albany Institute of History and Art sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 78th percentile within NY. Charities of a similar size with the same main cause include Equalize Health ($1.2m), Center for Educational Media ($1.2m) and Kansas City Friends of Alvin Ailey ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 75% and program service revenue 9.8% of the total. Compensation of current officers, directors and key employees was $177k (8.0% of expenses). Other salaries and wages came to $599k. At year end it held assets of $11.4m against liabilities of $898k, net assets of $10.5m. It reported 27 employees.