NATIONAL ART COLLECTIONS FUND
Latest income
£17.7m
Latest spending
£17.9m
Registered
1962
Accounts read
FY2024
Financial health, per its FY2024 accounts
The accounts state that total income increased to £17.7m in 2024, driven by growth in membership and legacy receipts, while charitable expenditure decreased to £16.6m. The charity recorded a net surplus of £3.5m for the year, resulting in total unrestricted reserves of £43.2m, which the trustees confirm are adequate to maintain liquidity for at least one year.
What the accounts disclose
Highest-paid employee band: £150,001 - £160,000 — above the median for charities its size (£125k)
“£150,001 - £160,000 1”
Per its FY2024 accounts as filed with the Charity Commission.
Reserves policy: three to six months of total unrestricted operating expenditure (held: £43.2m)
“The Trustees of Art Fund have set a target for general funds of between 3-6 months of total unrestricted operating expenditure.” — page 34
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Donations from Trustees
“During the year two Trustees (2023: one) made donations to Art Fund totalling £2,300 (2023: £1,500) of which £1,200 was restricted to the Expanding Horizons appeal, and £1,200 was restricted to the Making Connections appeal.” — page 55
“In 2024 £434,541 (2023: £nil) was donated to Art Fund by American Friends of the Art Fund (AFAF), a US based non-profit organisation. AFAF is a related party as Art Fund’s Director is also a director of AFAF.” — page 55
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Donations from American Friends of the Art Fund (AFAF)
“During the year two Trustees (2023: one) made donations to Art Fund totalling £2,300 (2023: £1,500) of which £1,200 was restricted to the Expanding Horizons appeal, and £1,200 was restricted to the Making Connections appeal.” — page 55
“In 2024 £434,541 (2023: £nil) was donated to Art Fund by American Friends of the Art Fund (AFAF), a US based non-profit organisation. AFAF is a related party as Art Fund’s Director is also a director of AFAF.” — page 55
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Payments to AFAF
“During the year two Trustees (2023: one) made donations to Art Fund totalling £2,300 (2023: £1,500) of which £1,200 was restricted to the Expanding Horizons appeal, and £1,200 was restricted to the Making Connections appeal.” — page 55
“In 2024 £434,541 (2023: £nil) was donated to Art Fund by American Friends of the Art Fund (AFAF), a US based non-profit organisation. AFAF is a related party as Art Fund’s Director is also a director of AFAF.” — page 55
Per its FY2024 accounts as filed with the Charity Commission.
Trading subsidiary: Art Fund Services Limited
“The trading activities of Art Fund are carried out by its service company, Art Fund Services Limited, a company incorporated in England and Wales (registered number 01487654).” — page 33
Per its FY2024 accounts as filed with the Charity Commission.
Year-over-year changes
- Top pay band moved from £140,001 - £150,000 (FY2023) to £150,001 - £160,000 (FY2024).
Structured financials (annual return, FY ending 31/12/2024)
Total income
£17.7m
Total spending
£17.9m
Cost of raising funds
£1.3m
Reserves (reported)
£4.1m
Employees
80
Register events
- Received assets from another charity (25/03/2026)
- Received assets from another charity (20/08/2024)
- Received assets from another charity (10/05/2024)
Trustees
- Alexander Nairne CBEchair
- Anupam Ganguli
- Clare Jennifer Gough
- Desmond Shawe-Taylor
- Dr David Dibosa
- Jeremy Deller
- Katrina Brown
- Madeleine Kennedy
- Monisha Shah
- Professor Caroline Alexandra van Eck
- Satish Padiyar
- Sir Nigel Martyn Carrington
- Stella Abadesi Osunsade
- Susan Rees
- Tessa Jackson
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £17.7m | £17.9m |
| 31/12/2023 | £16.3m | £19.4m |
| 31/12/2022 | £13.9m | £20.9m |
| 31/12/2021 | £17.6m | £16.6m |
| 31/12/2020 | £14.5m | £18.1m |
Common questions
Is NATIONAL ART COLLECTIONS FUND financially healthy?
The accounts state that total income increased to £17.7m in 2024, driven by growth in membership and legacy receipts, while charitable expenditure decreased to £16.6m. The charity recorded a net surplus of £3.5m for the year, resulting in total unrestricted reserves of £43.2m, which the trustees confirm are adequate to maintain liquidity for at least one year. Its FY2024 accounts were audited by Crowe U.K. LLP.
What does the highest-paid employee of NATIONAL ART COLLECTIONS FUND earn?
Per its FY2024 accounts, the highest-paid employee was in the £150,001 - £160,000 band.
Who funds NATIONAL ART COLLECTIONS FUND?
Funders whose own accounts filings name NATIONAL ART COLLECTIONS FUND as a grant recipient include THE FOYLE FOUNDATION, THE MASTER CHARITABLE TRUST, NESTA, THE SIR JOHN RITBLAT FAMILY FOUNDATION, THE MCCORQUODALE CHARITABLE TRUST.
Known funders
| Funder | Year | Amount |
|---|---|---|
| THE FOYLE FOUNDATION | FY2024 | £400k |
| THE FOYLE FOUNDATION | FY2025 | £398k |
| THE MASTER CHARITABLE TRUST | FY2025 | £314k |
| NESTA | FY2024 | £260k |
| NESTA | FY2024 | £64k |
| THE SIR JOHN RITBLAT FAMILY FOUNDATION | FY2024 | £5k |
| THE MCCORQUODALE CHARITABLE TRUST | FY2025 | £4k |
| THE ARDEOLA CHARITABLE TRUST | FY2022 | £2k |
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| The National Lottery Heritage Fund | 29/11/2022 | £3.1m | "#DYC: Going Places (working title)" |
| The National Lottery Heritage Fund | 02/08/2017 | £93k | "Art Happens Phase 2: building skills and resilience for heritage organisations through crowdfunding" |
| The National Lottery Heritage Fund | 22/07/2014 | £5.0m | "Appeal to save the Wedgwood Collection" |
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| THE NGT FOUNDATION | 1 | £6.7m |
| THE ROTHSCHILD FOUNDATION | 1 | £980k |
| S P LOHIA FOUNDATION | 1 | £90k |
| THE VASEPPI TRUST | 1 | £75k |
| THE CHRISTOPHER AND HENRY OLDFIELD TRUST | 1 | £25k |
| THE JOHN BOOTH CHARITABLE FOUNDATION | 1 | £17k |
| THE JOHN R. MURRAY CHARITABLE TRUST | 1 | £8k |
| THE KILROOT FOUNDATION | 1 | £5k |