Smithsonian Institute

Analysis

Smithsonian Institute is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in January 1924, 102 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 September 2023, Smithsonian Institute reported income of $1.88bn and spending of $1.60bn, spending 85% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.60bn to $1.88bn (+17%), an average of +4.0% a year. The sharpest change came in the year to September 2021, when income rose by 16%. Over the whole period it spent 84% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Smithsonian 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 100th percentile, and in the 100th percentile within DC. Charities of a similar size with the same main cause include Aerospace Corporation ($1.30bn), The Mitre Corporation ($2.37bn) and Research Triangle Institute ($1.25bn).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 87% and program service revenue 5.9% of the total. Compensation of current officers, directors and key employees was $10.5m (0.7% of expenses). Other salaries and wages came to $590.0m. It paid $1.8m in professional fundraising fees. At year end it held assets of $7.20bn against liabilities of $1.51bn, net assets of $5.69bn. It reported 7,170 employees.