American Friends of the Louvre Inc

Analysis

American Friends of the Louvre Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in December 2002, 24 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 June 2023, American Friends of the Louvre Inc reported income of $2.8m and spending of $2.8m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.4m to $2.8m (+16%), an average of +3.9% a year. The sharpest change came in the year to June 2021, when income rose by 55%. Over the whole period it spent 76% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, American Friends of the Louvre Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 85th percentile within NY. Charities of a similar size with the same main cause include Brazosport Fine Arts Council Inc ($2.8m), Bay Area Disruptor and Startup Support Labs ($2.8m) and Catskill Mountain Foundation Inc ($2.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 64% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $257k (9.2% of expenses). Other salaries and wages came to $192k. At year end it held assets of $12.7m against liabilities of $625k, net assets of $12.0m. It reported 6 employees.