BROOKLYN ARTS COUNCIL
Mission Statement
BAC’s mission is to act as a coordinating, educational, and service organization to promote and encourage the knowledge, appreciation, and practices of the arts through public educational and cultural activities, and to provide support and services to artists and arts organizations. BAC exists at the center of Brooklyn’s vibrant artistic communities; serves as a vital source of information, expertise, and support; and facilitates access to artistic and cultural resources throughout the borough. We believe that arts and culture are at the heart of vibrant and healthy communities; where artmaking disciplines of all kinds find support and sustenance; where artists are championed at each stage in their careers; where arts and culture education is available to all; where there is freedom and opportunity to celebrate cultural heritage through the arts; where Brooklyn’s diverse ethnicities and art practices - from folk and traditional expressions to avant-garde, genre-busting performances - together make each community stronger.
Financial Overview — FY 2023
Compared with Peers
FY 2023| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
83.2% | 77.9% |
P10P90
|
Above median |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
9.3% | 14.6% |
P10P90
|
Top quarter |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
7.5% | 5.5% |
P10P90
|
Below median |
|
Fundraising efficiency
Fundraising expenses / gross fundraising income
· lower is better
|
499.5% | 251.0% |
P10P90
|
Below median |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
3.3 mo | 16.8 mo |
P10P90
|
Bottom quarter |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
36.0% | 10.7% |
P10P90
|
Bottom quarter |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
96.8% | 74.6% |
P10P90
|
Bottom quarter |
|
Revenue growth
Year over year revenue growth
|
12.4% | 3.5% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
22.8% | 13.1% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
-17.6% | -0.9% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2023 | $4.3M | $5.1M | $1.4M | 83.2% | 90 |
| 2022 | $3.8M | $4.1M | $2.1M | 82.4% | 77 |
| 2021 | $4.2M | $3.0M | N/A | — | 54 |
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