Chicago Tech Academy

Analysis

Chicago Tech Academy is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in July 2014, 12 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Chicago Tech Academy reported income of $7.0m and spending of $6.9m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.4m to $7.0m (+104%), an average of +20% a year. The sharpest change came in the year to June 2021, when income rose by 39%. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Chicago Tech Academy sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within IL. Charities of a similar size with the same main cause include Pride Academy Charter School ($7.0m), Creative Childrens Academy ($7.0m) and Kingdom Advisors Inc ($7.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.5% of the total. Compensation of current officers, directors and key employees was $336k (4.8% of expenses). Other salaries and wages came to $3.1m. At year end it held assets of $2.6m against liabilities of $455k, net assets of $2.1m. It reported 75 employees.