Iit Research Institute

Analysis

Iit Research Institute is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in March 1941, 85 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Iit Research Institute reported income of $27.8m and spending of $26.0m, spending 93% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $23.2m to $27.8m (+20%), an average of +4.6% a year. The sharpest change came in the year to September 2020, when income rose by 16%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Iit Research Institute sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within IL. Charities of a similar size with the same main cause include Dallas Museum of Art ($27.8m), Municipal Theatre Association of St Louis ($27.8m) and Broadway Dallas Inc ($27.8m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $2.8m (11% of expenses). Other salaries and wages came to $6.6m. At year end it held assets of $43.6m against liabilities of $14.7m, net assets of $28.9m. It reported 157 employees.