Chicagoland Entrepreneurial Center

Analysis

Chicagoland Entrepreneurial Center is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in December 2007, 19 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Chicagoland Entrepreneurial Center reported income of $6.2m and spending of $9.5m, spending 152% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $8.5m to $6.2m (-26%), an average of -7.4% a year. The sharpest change came in the year to June 2023, when income dropped by 31%. Over the whole period it spent 119% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Chicagoland Entrepreneurial Center sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within IL. Charities of a similar size with the same main cause include National Council of Jewish Women Incorporated ($6.2m), Citizens Development Center ($6.2m) and Greater Lafayette Commerce Community & Economic Development F ($6.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 49% and program service revenue 51% of the total. Compensation of current officers, directors and key employees was $833k (8.8% of expenses). Other salaries and wages came to $3.3m. At year end it held assets of $20.7m against liabilities of $26.3m, net assets of -$5.6m. It reported 35 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.