Puerto Rican Cultural Center

Analysis

Puerto Rican Cultural Center is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in December 1996, 30 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, Puerto Rican Cultural Center reported income of $12.5m and spending of $11.4m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $6.0m to $12.5m (+107%), an average of +20% a year. The sharpest change came in the year to June 2021, when income rose by 42%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Puerto Rican Cultural Center sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within IL. Charities of a similar size with the same main cause include Brevard Music Center Incorporated ($12.5m), Amarillo College Foundation Inc ($12.5m) and Tikvah-Etta & Lazear Israel Center for the Developmentally Disabled ($12.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% and program service revenue 0.8% of the total. Other salaries and wages came to $7.1m. At year end it held assets of $11.2m against liabilities of $5.3m, net assets of $6.0m. It reported 484 employees.