McDermott Center

Analysis

McDermott Center is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in March 1976, 50 years ago. 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, McDermott Center reported income of $30.9m and spending of $29.6m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $24.2m to $30.9m (+28%), an average of +6.3% a year. The sharpest change came in the year to June 2021, when income rose by 28%. Over the whole period it spent 86% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, McDermott Center sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within IL. Charities of a similar size with the same main cause include Stony Brook School ($30.8m), Potential Energy Coalition Inc ($30.9m) and Logan Community Resources Inc ($30.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.8% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $1.9m (6.3% of expenses). Other salaries and wages came to $14.3m. At year end it held assets of $58.3m against liabilities of $8.1m, net assets of $50.2m. It reported 302 employees.