Pittsburgh Cultural Trust

Analysis

Pittsburgh Cultural Trust is a registered charity in United States, based in Pittsburgh, PA. It received its IRS tax-exemption ruling in July 1984, 42 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, Pittsburgh Cultural Trust reported income of $89.9m and spending of $71.0m, leaving 21% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $85.1m to $89.9m (+5.7%), an average of +1.4% a year. The sharpest change came in the year to December 2022, when income rose by 89%. Over the whole period it spent 79% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Pittsburgh Cultural Trust 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 Brookings Institution ($89.4m), National September 11 Memorial and Museum at the World Trade Center ($90.3m) and Opas Foundation ($88.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 42% and program service revenue 58% of the total. Compensation of current officers, directors and key employees was $2.1m (3.0% of expenses). Other salaries and wages came to $10.6m. It paid $24k in professional fundraising fees. At year end it held assets of $242.9m against liabilities of $30.6m, net assets of $212.3m. It reported 567 employees.