Great Books Foundation

Analysis

Great Books Foundation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in November 1948, 78 years ago. 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 June 2023, Great Books Foundation reported income of $4.4m and spending of $3.5m, leaving 20% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.4m to $4.4m (+29%), an average of +6.7% a year. The sharpest change came in the year to June 2021, when income rose by 36%. 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, Great Books Foundation 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 91st percentile, and in the 91st percentile within IL. Charities of a similar size with the same main cause include Myrtle Grove Christian School ($4.4m), Meat Foundation ($4.4m) and University Dental Health Services Inc ($4.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 31% and program service revenue 9.5% of the total. Compensation of current officers, directors and key employees was $333k (9.5% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $2.8m against liabilities of $779k, net assets of $2.0m. It reported 30 employees.