The Institute of Medicine of Chicago

Analysis

The Institute of Medicine of Chicago is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in May 1937, 89 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 December 2023, The Institute of Medicine of Chicago reported income of $174k and spending of $291k, spending 167% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $293k to $174k (-40%), an average of -12% a year. The sharpest change came in the year to December 2022, when income dropped by 55%. 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, The Institute of Medicine of Chicago sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 51st percentile within IL. Charities of a similar size with the same main cause include Four Legged Ranch ($174k), Martin Ministries Integrity Missions ($174k) and Shelter Providers of Southern Nevada Inc ($174k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 61% and program service revenue 30% of the total. At year end it held assets of $528k against liabilities of $18k, net assets of $510k.