The Ark

Analysis

The Ark is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in March 1972, 54 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, The Ark reported income of $11.4m and spending of $9.8m, spending 85% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $9.4m to $11.4m (+22%), an average of +5.0% a year. The sharpest change came in the year to June 2022, when income rose by 65%. Over the whole period it spent 72% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Ark sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within IL. Charities of a similar size with the same main cause include Childrens Hope Alliance ($11.4m), Child Care Council of Westchester Inc ($11.4m) and Samuel and Althea Stroum Jewish Community Center of Greater Seattl ($11.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $256k (2.6% of expenses). Other salaries and wages came to $3.7m. At year end it held assets of $26.0m against liabilities of $3.2m, net assets of $22.7m. It reported 58 employees.