Navy Pier Inc

Analysis

Navy Pier Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in July 2011, 15 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, Navy Pier Inc reported income of $66.9m and spending of $74.2m, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $58.5m to $66.9m (+14%), an average of +3.4% a year. The sharpest change came in the year to December 2021, when income rose by 219%. Over the whole period it spent 107% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Navy Pier Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within IL. Charities of a similar size with the same main cause include Denver Center for the Performing Arts ($66.8m), Music and Event Management Inc ($66.9m) and Florida West Coast Symphony Inc ($66.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 7.0% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $1.8m (2.4% of expenses). Other salaries and wages came to $8.6m. At year end it held assets of $187.3m against liabilities of $75.6m, net assets of $111.7m. It reported 466 employees.