THE ROYAL ACADEMY OF ARTS
On 1 September 2009, all the assets, net liabilities and undertakings of the Royal Academy of Arts, charity number 212798, were transfered to The Royal Academy of Arts, charity number 1125383, company number 6298947.From 1 September 2009 therefore, the activities of The Royal Academy of Arts, charity number 1125383, are the promotion of Arts of Design through exhibitions and education.
Objects
1. THE PROMOTION OF THE ARTS OF DESIGN.2. THE EDUCATION OF THE PUBLIC IN THE CREATION, ENJOYMENT, APPRECIATION AND UNDERSTANDING OF THE ARTS, THROUGH EXHIBITIONS, EDUCATIONAL PROGRAMMES AND DEBATE BY ALL CHARITABLE MEANS AS THE MEMBERS OF COUNCIL MAY THINK FIT.
Financial health, per its FY2025 accounts
The accounts state that the charity reported a net expenditure of £4.1m for core activities, an improvement from the prior year's £10.9m, driven by cost savings and a restructure. However, the trustees report that free reserves are in a deficit of £5.3m, which is below the stated policy target of £4.5m. Despite this deficit, the trustees confirm sufficient funding and liquidity for the foreseeable future, noting that committed credit facilities were not utilised.
What the accounts disclose
“the trustees consider that an appropriate level of free reserves would be in the order of £ 4.5m to be held by way of operating contingency at all times” — page 24
“The Royal Academy has three wholly owned trading subsidiaries: R.A. Enterprises Limited (company no. 1666333) , Burlington House Limited (company no. 2216104) , and RA (Arts) Limited (company no. 2836364).” — page 7
Policies the charity declares
- Bullying and harassment policy and procedures
- Campaigns and political activity policy and procedures
- Complaints handling
- Complaints policy and procedures
- Conflicting interests
- Engaging external speakers at charity events policy and procedures
- Financial reserves policy and procedures
- Internal charity financial controls policy and procedures
- Internal risk management policy and procedures
- Investing charity funds policy and procedures
- Investment
- Paying staff
- Risk management
- Safeguarding policy and procedures
- Safeguarding vulnerable beneficiaries
- Serious incident reporting policy and procedures
- Social media policy and procedures
- Trustee conflicts of interest policy and procedures
- Trustee expenses policy and procedures
- Volunteer management
From the charity’s annual return (Part A, self-declared)
Self-declared on the annual return for the financial year ending 31/08/2025
- Employees paid over £60,000: 34 (£60,001–£70,000: 11; £70,001–£80,000: 8; £80,001–£90,000: 5; £90,001–£100,000: 1; £100,001–£110,000: 2; £120,001–£130,000: 2; £130,001–£140,000: 1; £150,001–£200,000: 2; £200,001–£250,000: 2)
- Has a trading subsidiary
Self-declared on the annual return for the financial year ending 31/08/2024
- Volunteers: 8
- Employees paid over £60,000: 30 (£60,001–£70,000: 11; £70,001–£80,000: 6; £80,001–£90,000: 4; £90,001–£100,000: 2; £100,001–£110,000: 3; £130,001–£140,000: 2; £150,001–£200,000: 1; £200,001–£250,000: 1)
- Has a trading subsidiary
Self-declared on the annual return for the financial year ending 31/08/2023
- Volunteers: 6
- Employees paid over £60,000: 26 (£60,001–£70,000: 11; £70,001–£80,000: 6; £80,001–£90,000: 1; £90,001–£100,000: 3; £100,001–£110,000: 1; £130,001–£140,000: 2; £140,001–£150,000: 1; £200,001–£250,000: 1)
- Has a trading subsidiary
In the news
- Peggy Guggenheim exhibition at the Royal Academy of Arts, London
- A Soft, Bright Moment: Painting the French Riviera at the Royal Academy of Arts
- Princess Margaret’s Grandson Makes a Rare Solo Appearance at the Royal Academy of Arts
- Princess Margaret’s Grandson Makes a Rare Solo Appearance at the Royal Academy of Arts
- 2 for 1 tickets to Painting the French Riviera at the Royal Academy of Arts
- NEWS: Royal Academy of Arts Announces 2027 Exhibition Programme
- NEWS: Royal Academy of Arts Announces 2027 Exhibition Programme
- Cristina Iglesias Creates a Site-Specific Work for the Royal Academy of Arts
Property (HM Land Registry)
Structured financials (annual return, FY ending 31/08/2025)
Register events
- Received assets from another charity (20/12/2024)
- Received assets from another charity (30/08/2022)
Trustees
- Alice Black
- Alistair Summers
- Anthony Engi Meacock
- Anthony Lewis Cohen
- Eileen Cooper
- Elsie Owusu
- Fiona Banner RA
- Hew Donald Joseph Locke OBE
- Hurvin Linton Anderson
- Katherine Fiona Jones RA
- Michael Landy
- Professor Farshid Moussavi
- Rebecca Salter PRA
- Ryan Gander RA
- Sir Christopher Mark Le Brun
- Stephen Lyon Chambers
- Wolfgang Tillmans
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/08/2025 | £37.1m | £40.7m |
| 31/08/2024 | £38.1m | £46.6m |
| 31/08/2023 | £43.8m | £36.7m |
| 31/08/2022 | £43.4m | £33.2m |
| 31/08/2021 | £36.7m | £30.8m |
Common questions
Is THE ROYAL ACADEMY OF ARTS financially healthy?
Per its FY2025 accounts: The accounts state that the charity reported a net expenditure of £4.1m for core activities, an improvement from the prior year's £10.9m, driven by cost savings and a restructure. However, the trustees report that free reserves are in a deficit of £5.3m, which is below the stated policy target of £4.5m. Despite this deficit, the trustees confirm sufficient funding and liquidity for the foreseeable future, noting that committed credit facilities were not utilised. Its FY2025 accounts were audited by Crowe UK LLP.
Who funds THE ROYAL ACADEMY OF ARTS?
Funders whose own accounts filings name THE ROYAL ACADEMY OF ARTS as a grant recipient include THE MASTER CHARITABLE TRUST, Royal Academy Trust, GARFIELD WESTON FOUNDATION, THE ROTHSCHILD FOUNDATION, THE MANNY AND BRIGITTA DAVIDSON CHARITABLE FOUNDATION.
Shared trustees with funders
- Rebecca Salter PRA — trustee here and at Royal Academy Trust
Known funders
| Funder | Year | Amount | Purpose (as stated by the funder) |
|---|---|---|---|
| THE MASTER CHARITABLE TRUST | FY2022 | £5.0m | |
| Royal Academy Trust | FY2021 | £3.0m | Annual donation and other donations to the Royal Academy for revenue and capital projects |
| THE MASTER CHARITABLE TRUST | FY2021 | £2.5m | |
| Royal Academy Trust | FY2024 | £1.7m | Annual donation |
| THE JOHN R. MURRAY CHARITABLE TRUST | FY2022 | Unverified read£1.5m | Advancement of education |
| Royal Academy Trust | FY2022 | £1.0m | Annual donation and other donations to the Royal Academy for revenue and capital projects |
| GARFIELD WESTON FOUNDATION | FY2023 | £1.0m | Arts |
| THE ROTHSCHILD FOUNDATION | FY2025 | £820k | |
| Royal Academy Trust | FY2025 | £500k | Burlington Project - Phase III |
| Royal Academy Trust | FY2025 | £462k | Royal Academy Schools |
| THE MANNY AND BRIGITTA DAVIDSON CHARITABLE FOUNDATION | FY2024 | £417k | |
| Royal Academy Trust | FY2025 | £400k | Exhibitions programme |
| National Philanthropic Trust UK Limited | FY2021 | £375k | |
| HUO FAMILY FOUNDATION (UK) LIMITED | FY2024 | £317k | |
| HUO FAMILY FOUNDATION (UK) LIMITED | FY2025 | £275k | |
| Royal Academy Trust | FY2024 | £200k | Burlington Project - Phase III |
| Royal Academy Trust | FY2025 | £180k | Heinz Architecture Programme |
| GENESIS AMERICA (UK) LIMITED | FY2025 | £175k | Grants in support of the Genesis Foundation |
| CHK Foundation | FY2022 | £103k | Grants to charitable institutions |
| THE JAGCLIF CHARITABLE TRUST | FY2023 | £89k | donation |
| THE ROTHSCHILD FOUNDATION | FY2022 | £84k | |
| PRISM THE GIFT FUND | FY2024 | £77k | Art and Cultural Heritage |
| THE JOHN R. MURRAY CHARITABLE TRUST | FY2021 | £50k | Advancement of education |
| THE HOTSPUR TRUST | FY2024 | Unverified read£50k | |
| THE RISMAN FOUNDATION | FY2025 | £50k | BAFTA scholarship, exhibition and programme |
| THE ROTHSCHILD FOUNDATION | FY2021 | £50k | Grant paid during the year |
| PAUL SMITH'S FOUNDATION | FY2022 | £48k | |
| THE PHILIP MARSDEN FAMILY CHARITABLE TRUST | FY2025 | £26k | |
| PAUL SMITH'S FOUNDATION | FY2025 | £25k | |
| THE HOTSPUR TRUST | FY2026 | £25k | |
| DREAMCHASING | FY2021 | £25k | Grant for student bursaries |
| PAUL SMITH'S FOUNDATION | FY2021 | £25k | Grants and donations |
| PAUL SMITH'S FOUNDATION | FY2024 | £25k | |
| THE ARCHIE SHERMAN CHARITABLE TRUST | FY2022 | £25k | Arts and culture and general charitable causes |
| THE AMPERSAND FOUNDATION | FY2023 | £25k | |
| THE DORFMAN FOUNDATION | FY2021 | £25k | General charitable purpose donations |
| Royal Academy Trust | FY2025 | £23k | Learning programme |
| THE PAUL MELLON CENTRE FOR STUDIES IN BRITISH ART | FY2023 | £22k | Curatorial Research Grants |
| ATKIN CHARITABLE FOUNDATION | FY2024 | Unverified read£20k | |
| The William Brake Foundation | FY2024 | £20k | |
| THE RISMAN FOUNDATION | FY2024 | £18k | Arts |
| THE ARCHIE SHERMAN CHARITABLE TRUST | FY2025 | £17k | Arts and culture |
| THE ARCHIE SHERMAN CHARITABLE TRUST | FY2024 | £17k | |
| The Marks Family Charitable Trust | FY2026 | £15k | |
| PAUL SMITH'S FOUNDATION | FY2023 | £15k | |
| Royal Academy Trust | FY2025 | £11k | Library |
| GRAFF FOUNDATION | FY2025 | £11k | |
| THE A M CHARITABLE TRUST | FY2025 | £11k | |
| THE IAN & NATALIE LIVINGSTONE CHARITABLE TRUST | FY2025 | £10k | to help preserve the RA collection and support their education and learning programs. |
| ATKIN CHARITABLE FOUNDATION | FY2025 | Unverified read£10k |
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| The National Lottery Heritage Fund | 13/07/2020 | £250k | "COVID-19: Royal Academy of Arts" |
| The National Lottery Heritage Fund | 24/04/2012 | £12.7m | "Revealing, celebrating and exploring the heritage of the Royal Academy of Arts" |
| The National Lottery Heritage Fund | 11/01/2008 | £34k | "J.F. Lewis Drawings Project" |
| The National Lottery Heritage Fund | 13/05/1998 | £4.1m | "Royal Academy of Arts - Galleries & Courtyard Improvements" |
| The National Lottery Heritage Fund | 11/12/1996 | £112k | "Book Collection Conservation, Royal Academy of Arts" |
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| THE D'OYLY CARTE CHARITABLE TRUST | 2 | £20k |
| THE KIRBY LAING FOUNDATION | 2 | £20k |
| THE GATSBY CHARITABLE FOUNDATION | 1 | £6.0m |
| THE THOMPSON FAMILY CHARITABLE TRUST | 1 | £1.3m |
| THE ASSOCIATED BOARD OF THE ROYAL SCHOOLS OF MUSIC | 1 | £1.0m |
| THE LEVERHULME TRUST | 1 | £670k |
| Q CHARITABLE TRUST | 1 | £302k |
| BACKSTAGE TRUST | 1 | £300k |
Charities like this
- THE FRIENDS OF THE ROYAL ACADEMY
- Royal Academy Trust
- THE ROYAL ACADEMY OF DRAMATIC ART
- ROYAL COLLEGE OF ART STUDENTS' UNION
- ROYAL SOCIETY OF BRITISH ARTISTS LIMITED
- ROYAL ACADEMY OF MUSIC
Side by side with its peers
| Charity | Income | Top pay band | Staff >£60k | Reserves vs policy | Fundraising cost | Going concern |
|---|---|---|---|---|---|---|
| THE ROYAL ACADEMY OF ARTS | £37.1m | — | 0 | unclear | — | no doubt |
| THE FRIENDS OF THE ROYAL ACADEMY | £11.4m | — | 0 | above | — | no doubt |
| Royal Academy Trust | £5.4m | — | 0 | unclear | — | no doubt |
| THE ROYAL ACADEMY OF DRAMATIC ART | £16.7m | — | 0 | unclear | — | no doubt |
| ROYAL COLLEGE OF ART STUDENTS' UNION | £644k | — | 0 | above | — | no doubt |
| ROYAL SOCIETY OF BRITISH ARTISTS LIMITED | £45k | — | 0 | unclear | — | no doubt |