Carnegie Institute

Analysis

Carnegie Institute is a registered charity in United States, based in Pittsburgh, PA. It received its IRS tax-exemption ruling in February 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 December 2023, Carnegie Institute reported income of $73.2m and spending of $84.2m, spending 115% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $71.4m to $73.2m (+2.5%), an average of +0.6% a year. The sharpest change came in the year to December 2021, when income rose by 34%. Over the whole period it spent 83% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Carnegie Institute 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 PA. Charities of a similar size with the same main cause include The Carnegie Hall Corporation ($72.8m), Waterford Institute Inc ($73.5m) and Wolf Trap Foundation for the Performing Arts ($72.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 47% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $2.8m (3.3% of expenses). Other salaries and wages came to $29.8m. At year end it held assets of $593.0m against liabilities of $24.5m, net assets of $568.4m. It reported 1,102 employees.