Open Books Ltd

Analysis

Open Books Ltd is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in June 2007, 19 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Open Books Ltd reported income of $3.6m and spending of $3.1m, spending 86% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.4m to $3.6m (+50%), an average of +11% a year. The sharpest change came in the year to June 2023, when income rose by 44%. Over the whole period it spent 88% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Open Books Ltd sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within IL. Charities of a similar size with the same main cause include Intergenerational School ($3.6m), Demedici Corporation II ($3.6m) and Daycroft ($3.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 83% and program service revenue 1.4% of the total. Compensation of current officers, directors and key employees was $148k (4.7% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $4.0m against liabilities of $2.1m, net assets of $2.0m. It reported 30 employees.