Academy Foundation

Analysis

Academy Foundation is a registered charity in United States, based in Beverly Hills, CA. It received its IRS tax-exemption ruling in July 1985, 41 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, Academy Foundation reported income of $78.7m and spending of $92.6m, spending 118% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $95.5m to $78.7m (-18%), an average of -4.7% a year. The sharpest change came in the year to June 2022, when income rose by 34%. Over the whole period it spent 105% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Academy Foundation 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 99th percentile, and in the 99th percentile within CA. Charities of a similar size with the same main cause include California Science Center Foundation ($77.5m), American Geophysical Union ($79.0m) and New York City Ballet Inc ($77.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $330k (0.4% of expenses). Other salaries and wages came to $2.3m. At year end it held assets of $79.1m against liabilities of $814k, net assets of $78.2m. It reported 251 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.