Phillips Collection

Analysis

Phillips Collection is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in October 1963, 63 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 July 2023, Phillips Collection reported income of $21.3m and spending of $16.6m, leaving 22% of income unspent that year. Across the 5 years on record, from July 2019 to July 2023, income fell from $21.8m to $21.3m (-2.5%), an average of -0.6% a year. The sharpest change came in the year to July 2021, when income rose by 69%. Over the whole period it spent 85% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Phillips Collection sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 93rd percentile within DC. Charities of a similar size with the same main cause include Childrens Museum Inc ($21.2m), Independent Television Service Inc ($21.3m) and Ballet West ($21.2m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 73% and program service revenue 6.5% of the total. Compensation of current officers, directors and key employees was $1.2m (7.2% of expenses). Other salaries and wages came to $6.3m. It paid $46k in professional fundraising fees. At year end it held assets of $127.8m against liabilities of $7.3m, net assets of $120.5m. It reported 269 employees.