Pioneer Works Art Foundation

Analysis

Pioneer Works Art Foundation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in March 2013, 13 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, Pioneer Works Art Foundation reported income of $13.4m and spending of $10.6m, leaving 21% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $14.2m to $13.4m (-5.8%), an average of -1.5% a year. The sharpest change came in the year to December 2022, when income rose by 48%. Over the whole period it spent 71% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Pioneer Works Art 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 96th percentile, and in the 94th percentile within NY. Charities of a similar size with the same main cause include Kimmel Center Inc ($13.4m), Particle Foundation ($13.4m) and American Philosophical Society ($13.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% and program service revenue 7.2% of the total. Compensation of current officers, directors and key employees was $606k (5.7% of expenses). Other salaries and wages came to $3.7m. At year end it held assets of $23.5m against liabilities of $5.6m, net assets of $17.9m. It reported 100 employees.