National Gallery of Art

Analysis

National Gallery of Art is a registered charity in United States, based in Landover, MD. It received its IRS tax-exemption ruling in December 1965, 61 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, National Gallery of Art reported income of $250.9m and spending of $247.6m, spending 99% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $226.2m to $250.9m (+11%), an average of +2.6% a year. The sharpest change came in the year to September 2023, when income rose by 62%. Over the whole period it spent 87% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, National Gallery of Art 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 MD. Charities of a similar size with the same main cause include Educational Media Foundation ($242.2m), Cold Spring Harbor Laboratory ($258.0m) and Museum of Modern Art ($236.7m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 81% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $7.1m (2.9% of expenses). Other salaries and wages came to $85.7m. At year end it held assets of $1.68bn against liabilities of $152.1m, net assets of $1.52bn. It reported 942 employees.