THE PAUL MELLON CENTRE FOR STUDIES IN BRITISH ART
Financial health, per its FY2025 accounts
The accounts state that unrestricted reserves totalled £13,246,231, with free reserves of £9,480,605, which the trustees consider broadly in line with the annual operating budget as per their reserves policy. The charity relies heavily on endowment income from Yale University, which provides financial stability but exposes the organisation to USD:GBP exchange rate fluctuations and changes in endowment tax rates. The trustees and auditors confirm that the charity has adequate resources to continue its activities for the foreseeable future with no material uncertainties.
What the accounts disclose
“The PMC maintains a reserve held in GBP that is equivalent to the current year’s operating budget.” — page 22
“Acting in their academic capacity, one trustee, Professor Timothy Barringer was paid £1,055 (£2024:£nil) relating to publication royalties, and the Centre paid for meeting subsistence expenses for two trustees totalling £31 (2024: £nil).” — page 46
“During the year the charity received income of £7,791,537 (2024: £7,150,698) from Yale University, the entity responsible for establishing the charity. The University releases endowment monies to the charity from monies originally received from alumnus, Mr Paul Mellon.” — page 47
“During the year the charity received £175,482 (2024: £165,255 ) from Yale University Press, in relation to revenue share and publishing royalties. Yale University Press is a subsidiary of Yale University, the entity responsible for establishing the charity.” — page 47
“During the year the charity received income of £7,791,537 (2024: £7,150,698) from Yale University, the entity responsible for establishing the charity. The University releases endowment monies to the charity from monies originally received from alumnus, Mr Paul Mellon.” — page 47
“During the year the charity received £175,482 (2024: £165,255 ) from Yale University Press, in relation to revenue share and publishing royalties. Yale University Press is a subsidiary of Yale University, the entity responsible for establishing the charity.” — page 47
“During the year the charity received income of £7,791,537 (2024: £7,150,698) from Yale University, the entity responsible for establishing the charity. The University releases endowment monies to the charity from monies originally received from alumnus, Mr Paul Mellon.” — page 47
“During the year the charity received £175,482 (2024: £165,255 ) from Yale University Press, in relation to revenue share and publishing royalties. Yale University Press is a subsidiary of Yale University, the entity responsible for establishing the charity.” — page 47
Structured financials (annual return, FY ending 30/06/2025)
Trustees
- Alexander Robert Nairne
- Dr Martina Droth
- Dr Susan Gibbons
- Edward Cooke Jr
- Professor Pericles Samuel Bruce Lewis
- Professor Steven Ian Wilkinson
- Professor Timothy John Barringer
- Russell Andrew Martin Epstein
- Sarah Georgia Kemp
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 30/06/2025 | £8.3m | £6.9m |
| 30/06/2024 | £7.4m | £6.4m |
| 30/06/2023 | £7.2m | £6.4m |
| 30/06/2022 | £5.8m | £5.5m |
| 30/06/2021 | £5.6m | £4.8m |
Common questions
Is THE PAUL MELLON CENTRE FOR STUDIES IN BRITISH ART financially healthy?
The accounts state that unrestricted reserves totalled £13,246,231, with free reserves of £9,480,605, which the trustees consider broadly in line with the annual operating budget as per their reserves policy. The charity relies heavily on endowment income from Yale University, which provides financial stability but exposes the organisation to USD:GBP exchange rate fluctuations and changes in endowment tax rates. The trustees and auditors confirm that the charity has adequate resources to continue its activities for the foreseeable future with no material uncertainties. Its FY2025 accounts were audited by Sayer Vincent LLP.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| HUO FAMILY FOUNDATION (UK) LIMITED | 1 | £2.3m |
| THE FOYLE FOUNDATION | 1 | £119k |
| THE STEVENSON FAMILY'S CHARITABLE TRUST | 1 | £25k |
| THE ALBERT DAWSON EDUCATIONAL TRUST | 1 | £23k |
| LLOYD'S REGISTER FOUNDATION | 1 | £10k |