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THE ROYAL ACADEMY OF ARTS

Registered charity 1125383 · accounts filings on the Charity Commission register

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.

Causes: Education/training · The Prevention Or Relief Of Poverty · Arts/culture/heritage/science · website · Get email alerts

Latest income
£37.1m
Latest spending
£40.7m
Registered
2008
Accounts read
FY2025

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.

Automated summary of the FY2025 accounts; the evidenced findings below carry the verbatim passages.

What the accounts disclose

Reserves policy: £4.5m (held: £-5.3m)
“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
Per its FY2025 accounts as filed with the Charity Commission.
Trading subsidiary: R.A. Enterprises Limited, Burlington House Limited, RA (Arts) Limited
“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
Per its FY2025 accounts as filed with the Charity Commission.

Accounts audited by Crowe UK LLP. Discloses 5 of 6 completeness components.

In the news

Recent coverage mentioning this charity by name (automated match; headlines belong to their publishers).

Property (HM Land Registry)

4 registered titles in England and Wales held by the charity’s company or corporate body (2 freehold); recorded price paid £1.6m. All charity-held property. Contains HM Land Registry data © Crown copyright, OGL v3.0.

Structured financials (annual return, FY ending 31/08/2025)

Total income
£37.1m
Total spending
£40.7m
Cost of raising funds
£11.1m
Reserves (reported)
£0
Employees
334

Reported reserves equal ~0.0 months of spending — in the bottom quarter for charities its size (median 4.6 months; benchmarks).

Per its annual return, largest income source: Donations and legacies (48% of income) — components as reported reconcile to the return’s total income; not from the accounts narrative.

Per its annual return, cost of raising funds: 29.9% of total income — in the top quarter for charities its size (median 3.8%) (benchmarks).

Register events

Trustees · trustee networks

Trustee list from the Charity Commission register (current, not historical).

Operates in: Throughout England And Wales

Income and spending

Financial year endIncomeSpending
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, THE JOHN R. MURRAY CHARITABLE TRUST, GARFIELD WESTON FOUNDATION, THE ROTHSCHILD FOUNDATION.

Shared trustees with funders

Register facts shown side by side: a person serves as trustee of both this charity and a funder whose accounts record grants to it. Shared trusteeship is lawful and common; well-run charities manage it through declared-interest procedures.

Known funders

Grants to this charity found in funders’ own accounts filings.

FunderYearAmountPurpose (as stated by the funder)
THE MASTER CHARITABLE TRUSTFY2022£5.0m
Royal Academy TrustFY2024£1.7mAnnual donation
THE JOHN R. MURRAY CHARITABLE TRUSTFY2022£1.5mAdvancement of education
Royal Academy TrustFY2022£1.0mAnnual donation and other donations to the Royal Academy for revenue and capital projects
GARFIELD WESTON FOUNDATIONFY2023£1.0mArts
THE ROTHSCHILD FOUNDATIONFY2025£820k
Royal Academy TrustFY2025£500kBurlington Project - Phase III
Royal Academy TrustFY2025£462kRoyal Academy Schools
THE MANNY AND BRIGITTA DAVIDSON CHARITABLE FOUNDATIONFY2024£417k
Royal Academy TrustFY2025£400kExhibitions programme
HUO FAMILY FOUNDATION (UK) LIMITEDFY2024£317k
Royal Academy TrustFY2024£200kBurlington Project - Phase III
Royal Academy TrustFY2025£180kHeinz Architecture Programme
GENESIS AMERICA (UK) LIMITEDFY2025£175kGrants in support of the Genesis Foundation
THE JAGCLIF CHARITABLE TRUSTFY2023£89kdonation
THE ROTHSCHILD FOUNDATIONFY2022£84k
PRISM THE GIFT FUNDFY2024£77kArt and Cultural Heritage
THE RISMAN FOUNDATIONFY2025£50kBAFTA scholarship, exhibition and programme
THE JOHN R. MURRAY CHARITABLE TRUSTFY2021£50kAdvancement of education
PAUL SMITH'S FOUNDATIONFY2022£48k
THE PHILIP MARSDEN FAMILY CHARITABLE TRUSTFY2025£26k
THE AMPERSAND FOUNDATIONFY2023£25k
THE ARCHIE SHERMAN CHARITABLE TRUSTFY2022£25kArts and culture and general charitable causes
PAUL SMITH'S FOUNDATIONFY2025£25k
PAUL SMITH'S FOUNDATIONFY2024£25k
Royal Academy TrustFY2025£23kLearning programme
THE PAUL MELLON CENTRE FOR STUDIES IN BRITISH ARTFY2023£22kCuratorial Research Grants
ATKIN CHARITABLE FOUNDATIONFY2024£20k
The William Brake FoundationFY2024£20k
THE RISMAN FOUNDATIONFY2024£18kArts
THE ARCHIE SHERMAN CHARITABLE TRUSTFY2025£17kArts and culture
THE ARCHIE SHERMAN CHARITABLE TRUSTFY2024£17k
PAUL SMITH'S FOUNDATIONFY2023£15k
Royal Academy TrustFY2025£11kLibrary
GRAFF FOUNDATIONFY2025£11k
THE A M CHARITABLE TRUSTFY2025£11k
CHK FoundationFY2024£10k
THE MCCORQUODALE CHARITABLE TRUSTFY2025£10k
CHK FoundationFY2023£10k
THE JOHN S COHEN FOUNDATIONFY2025£10kEducation & Academic
NORMANBY CHARITABLE TRUSTFY2022£10k
THE HAROLD HYAM WINGATE FOUNDATIONFY2023£10k
THE JOHN S COHEN FOUNDATIONFY2023£10kEducation & Academic
THE JOHN S COHEN FOUNDATIONFY2022£10kEducation & Academic
THE RORY AND ELIZABETH BROOKS FOUNDATIONFY2025£10k
THE IAN & NATALIE LIVINGSTONE CHARITABLE TRUSTFY2025£10kto help preserve the RA collection and support their education and learning programs.
ATKIN CHARITABLE FOUNDATIONFY2025£10k
THE JAGCLIF CHARITABLE TRUSTFY2024£10k
THE JOHN BOOTH CHARITABLE FOUNDATIONFY2023£8k
The Marks Family Charitable TrustFY2025£8k

Government & lottery funding

Grants to this charity published as open data by government and lottery funders (360Giving).

FunderDateAmountPurpose
The National Lottery Heritage Fund13/07/2020£250k"COVID-19: Royal Academy of Arts"
The National Lottery Heritage Fund24/04/2012£12.7m"Revealing, celebrating and exploring the heritage of the Royal Academy of Arts"
The National Lottery Heritage Fund11/01/2008£34k"J.F. Lewis Drawings Project"
The National Lottery Heritage Fund13/05/1998£4.1m"Royal Academy of Arts - Galleries & Courtyard Improvements"
The National Lottery Heritage Fund11/12/1996£112k"Book Collection Conservation, Royal Academy of Arts"

Funders of similar charities

Funders whose accounts show grants to charities similar to this one (and no recorded grant to this charity) — a starting list for fundraisers.

FunderSimilar charities fundedAmount to them
THE CHAMPNISS FOUNDATION1—
THE LONDON WOMEN'S CLINIC FOUNDATION1—
THE GATSBY CHARITABLE FOUNDATION1£6.0m
THE THOMPSON FAMILY CHARITABLE TRUST1£1.3m
MARIA BJORNSON MEMORIAL FUND1£830k
THE LEVERHULME TRUST1£670k
BACKSTAGE TRUST1£300k
THE DORFMAN FOUNDATION1£193k

Charities like this

Semantically similar by activities and financial character, from our analysed corpus. Compare with Royal Academy Trust.

Side by side with its peers

CharityIncomeTop pay bandStaff >£60kReserves vs policyFundraising costGoing concern
THE ROYAL ACADEMY OF ARTS£37.1m—0unclear—no doubt
Royal Academy Trust FY2025£5.4m—0unclear—no doubt
THE FRIENDS OF THE ROYAL ACADEMY FY2025£11.4m—0above—no doubt
ROYAL CAMBRIAN ACADEMY OF ART FY2024£153k—0above—no doubt
ROYAL SOCIETY OF PAINTER-PRINTMAKERS FY2024£123k—0unclear—no doubt
ROYAL ACADEMY OF MUSIC FY2025£33.2m——unclear14.3%no doubt

Each row is that charity’s latest analysed filing; every value is quote-backed on its own page.