Barnes Foundation

Analysis

Barnes Foundation is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in February 1923, 103 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 school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Barnes Foundation reported income of $10.7m and spending of $15.2m, spending 142% of what it took in. Across the 5 years on record, from December 2019 to June 2023, income fell from $24.6m to $10.7m (-56%), an average of -19% a year. The sharpest change came in the year to June 2023, when income dropped by 70%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Barnes Foundation 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 PA. Charities of a similar size with the same main cause include Geological Society of America Inc ($10.7m), Sterling & Francine Clark Art Inst ($10.7m) and Public Media NJ Inc ($10.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 44% and program service revenue 28% of the total. Compensation of current officers, directors and key employees was $953k (6.3% of expenses). Other salaries and wages came to $5.5m. It paid $180k in professional fundraising fees. At year end it held assets of $228.1m against liabilities of $2.6m, net assets of $225.5m.