Institute of Cultural Affairs

Analysis

Institute of Cultural Affairs is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in September 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 December 2023, Institute of Cultural Affairs reported income of $1.7m and spending of $1.7m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $716k to $1.7m (+137%), an average of +24% a year. The sharpest change came in the year to December 2021, when income rose by 181%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Institute of Cultural Affairs sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 84th percentile within IL. Charities of a similar size with the same main cause include Living Free Non-Profit Animal Sanctuary ($1.7m), Charles Towne Montessori School ($1.7m) and Blackstone Health Inc ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 24% and program service revenue 76% of the total. Other salaries and wages came to $208k. At year end it held assets of $469k against liabilities of $347k, net assets of $122k. It reported 6 employees.