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Buffalo Fine Arts Academy

EIN 16-6001555 · Buffalo, NY

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthWeak43 out of 100GovernanceStrong90 out of 100Impact evidenceDescribes programsHow well its results are evidenced

Points to look into

  • It reported loans to or from officers, directors or other insiders.
  • Only 44% of its spending went to programs.

These come from the organization's own tax return. There may be a good explanation; ask the charity.

What it says it does

THE BUFFALO FINE ARTS ACADEMY WAS INCORPORATED IN 1862 TO PROMOTE, CULTIVATE AND GENERALLY FOSTER ART IN ALL ITS BRANCHES. IT IS THE PARENT ORGANIZATION OF THE BUFFALO AKG ART MUSEUM ONE OF THE COUNTRY'S MOST PROMINENT ART MUSEUMS, AS WELL AS AN IMPORTANT CULTURAL AND EDUCATIONAL CENTER IN WESTERN NEW YORK. THE MUSEUM IS DEDICATED TO SERVING BOTH THE LOCAL COMMUNITY AND A WIDER ART AUDIENCE THROUGH A RECOGNIZED AND ACTIVE PROGRAM OF COLLECTING, EDUCATING, EXHIBITING AND INTERPRETING ART WORKS, WITH PARTICULAR EMPHASIS ON THE CREATIVE ACCOMPLISHMENTS OF THE 20TH AND 21ST CENTURY.

Income
$26.6 million
Spending
$27.8 million
Spent on programs
44%
Reserves
-68.6 months of spending
Largest source of income
investment income, 53%
Employees
236
Volunteers
295
Highest pay
$469,113, director

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Weak: 43 out of 100. Higher than 9% of charities in its peer group (arts and culture, $10m to $100m).

  • Reserves

    0 of 35

    Spendable reserves are negative: it owes or has committed more than it holds.

  • Debt

    20 of 20

    It owes 3% of what it owns.

  • Living within its means

    8 of 15

    Spending exceeded income by 5% of income.

  • Income trend

    15 of 15

    Income rose 35% on the year before.

  • Spending floor

    0 of 15

    44% of spending went to programs and raising each dollar of donations cost 30 cents.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 90 out of 100. Higher than 12% of charities in its peer group (arts and culture, $10m to $100m).

  • Independent board

    25 of 25

    36 of 36 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    0 of 10

    Reports at least one of: diversion of assets, excess benefits, loans to insiders.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (4)
  1. $4.3 million spent. PURCHASE AND CONSERVATION OF WORKS OF ART- ART PURCHASED FOR THE PERMANENT COLLECTION AND RELATED CONSERVATION ACTIVITIES.
  2. $904,989 spent. GALLERY OPERATIONS- MAINTENANCE AND SECURITY OF THE COLLECTION AND VARIOUS ACTIVITIES RELATING TO THE PERMANENT COLLECTION.
  3. $4.7 million spent. EXHIBITIONS- EXHIBITIONS OF VARIOUS ARTISTS WORKS WHICH ARE NOT USUALLY INCLUDED IN THE PERMANENT COLLECTION.
  4. $2.3 million spent. EDUCATIONAL PROGRAMS AND AUXILIARY ACTIVITIES INCLUDE TOURS, WORKSHOPS, ART CLASSES, LECTURES, CONCERTS, FILMS, AND COMMUNITY PROGRAMS.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending June 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since December 1940.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.