Imperial War Museums: where does the money come from?
The Imperial War Museums had income of £79m in the year to March 2026, and 45% of it was government grant-in-aid. It welcomed 2,123,000 visitors.
What does the Imperial War Museums do?
Imperial War Museums runs five branches, including IWM London, IWM Duxford, the Churchill War Rooms and HMS Belfast. Founded in 1917, it records war and conflict involving Britain and the Commonwealth from the First World War onwards; its fifth branch is IWM North in Trafford. It is funded by government grant-in-aid, with free entry at IWM London and IWM North, paid tickets at its other three branches, and trading income and donations.
In brief: national war museum · five branches · mix of free and paid entry · London, Cambridgeshire, Manchester
Source: Spark Intel editorial, checked 27 September 2026. Official website: iwm.org.uk.
Where does the Imperial War Museums' money come from?
Government grant-in-aid brought in £36m, 45% of the total. The rest, £43m, came from what the Imperial War Museums earns and raises itself: admissions, shops and catering, donations and other income.
- Government grant-in-aid £36m 45%
- Admissions and exhibitions £18m 23%
- Shops, catering and commercial £18m 23%
- Donations and legacies £5m 7%
- Other income £1.4m 2%
What did the Imperial War Museums spend, and what is it worth?
| Measure | Mar 2026 | Previous year |
|---|---|---|
| Total income | £79m | £86m |
| Total spending | £80m | |
| Net income before gains | -£1.2m | |
| Staff costs | £31m | |
| Staff | 586 | |
| Net assets | £292m | |
| Cash | £28m | |
| Visitors | 2,123,000 | |
| Income per visitor | £37.22 | |
| Grant-in-aid per visitor | £16.75 |
Net income is before investment gains and property revaluations. For a charity it is the surplus kept for the collection and buildings, not a profit paid out.
- Legal form
- Exempt charity and non-departmental public body sponsored by DCMS
- Sites
- IWM London, IWM North, IWM Duxford, Churchill War Rooms, HMS Belfast
- Trading company
- Imperial War Museum Trading Company Limited (03719634)
- Latest accounts
- Year to 31 March 2026
Imperial War Museums: common questions
How much money does the Imperial War Museums get from the government?
£36m of grant-in-aid in the year to March 2026, 45% of its total income of £79m.
How much does the Imperial War Museums spend?
£80m in the year to March 2026, of which staff costs were £31m.
How many people visit the Imperial War Museums?
2,123,000 in the year to March 2026 (Number of visits to IWM across its five branches, 2025-26, excluding corporate hospitality guests and virtual visitors (performance indicator stated in thousands; 2,239k in 2024-25)), according to its annual report.
Why isn't the Imperial War Museums on the Companies House register?
The Imperial War Museums is exempt charity and non-departmental public body sponsored by DCMS, so it publishes its accounts in an annual report rather than filing them at Companies House. Its trading company, Imperial War Museum Trading Company Limited, does file there.
Spark Intel, “Imperial War Museums: where does the money come from?”, updated 28 September 2026. https://www.spark-intel.co.uk/companies/imperial-war-museums/. Figures from Imperial War Museums' annual report and accounts for the year to 31 March 2026.
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