Chicagoland Chamber of Commerce Foundation

Analysis

Chicagoland Chamber of Commerce Foundation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in January 1974, 52 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, Chicagoland Chamber of Commerce Foundation reported income of $234k and spending of $307k, spending 131% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $980k to $234k (-76%), an average of -30% a year. The sharpest change came in the year to June 2020, when income dropped by 57%. Over the whole period it spent 116% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Chicagoland Chamber of Commerce Foundation sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 57th percentile within IL. Charities of a similar size with the same main cause include Brooklyn Womens Exchange Inc ($234k), Westlake Elderly Apartments Inc ($234k) and Community Fire Co of Virginville ($234k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 137% of the total. Other salaries and wages came to $129k. At year end it held assets of $179k against liabilities of $175k, net assets of $3,986.

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.