Wallace Collection: where does the money come from?
The Wallace Collection had income of £8m in the year to March 2025, and 40% of it was government grant-in-aid. It welcomed 526,486 visitors.
What does the Wallace Collection do?
The Wallace Collection is a national museum in Hertford House, Manchester Square, London, showing art collected by the Marquesses of Hertford and Sir Richard Wallace. It holds paintings, sculpture, furniture, porcelain and arms and armour, and was bequeathed to the nation by Lady Wallace in 1897 on condition that it be kept together. It is a public body and charity funded by government grant-in-aid, with free admission, membership, donations and trading income.
In brief: national museum · art in a historic house · free entry · Marylebone, London
Source: the Wallace Collection's own website, retrieved 27 September 2026.
Where does the Wallace Collection's money come from?
Government grant-in-aid brought in £3m, 40% of the total. The rest, £5m, came from what the Wallace Collection earns and raises itself: admissions, shops and catering, donations and other income.
- Government grant-in-aid £3m 40%
- Admissions and exhibitions £0.5m 5%
- Shops, catering and commercial £2m 24%
- Donations and legacies £1.9m 23%
- Other income £0.6m 7%
What did the Wallace Collection spend, and what is it worth?
| Measure | Mar 2025 | Previous year |
|---|---|---|
| Total income | £8m | £9m |
| Total spending | £10m | |
| Net income before gains | -£1.2m | |
| Staff costs | £5m | |
| Staff | 93 | |
| Net assets | £65m | |
| Cash | £4m | |
| Visitors | 526,486 | |
| Income per visitor | £15.79 | |
| Grant-in-aid per visitor | £6.36 |
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 (Declaration of Trust 1899 and Museums and Galleries Act 1992)
- Sites
- Hertford House, Manchester Square, London
- Trading company
- Hertford House Marketing Limited (03183595)
- Latest accounts
- Year to 31 March 2025
Wallace Collection: common questions
How much money does the Wallace Collection get from the government?
£3m of grant-in-aid in the year to March 2025, 40% of its total income of £8m.
How much does the Wallace Collection spend?
£10m in the year to March 2025, of which staff costs were £5m.
How many people visit the Wallace Collection?
526,486 in the year to March 2025 (Number of visits to the museum, Hertford House, 2024-25 (KPI; 455,136 in 2023-24)), according to its annual report.
Why isn't the Wallace Collection on the Companies House register?
The Wallace Collection is exempt charity and non-departmental public body sponsored by DCMS (Declaration of Trust 1899 and Museums and Galleries Act 1992), so it publishes its accounts in an annual report rather than filing them at Companies House. Its trading company, Hertford House Marketing Limited, does file there.
Spark Intel, “Wallace Collection: where does the money come from?”, updated 28 September 2026. https://www.spark-intel.co.uk/companies/wallace-collection/. Figures from Wallace Collection's annual report and accounts for the year to 31 March 2025.
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