Chicago Fashion Development NFP

Analysis

Chicago Fashion Development NFP is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in August 2008, 18 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Chicago Fashion Development NFP reported income of $114k and spending of $72k, leaving 37% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $106k to $114k (+8.2%), an average of +8.2% a year. Over the whole period it spent 63% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Chicago Fashion Development NFP sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 41st percentile within IL. Charities of a similar size with the same main cause include Gloatl Inc ($114k), Mexican Heritage Association of West Michigan ($114k) and United Irish Societies ($114k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 70% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $40k (55% of expenses). At year end it held assets of $513k against liabilities of $0, net assets of $513k.