Latin School of Chicago

Analysis

Latin School of Chicago is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in October 1954, 72 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Latin School of Chicago reported income of $54.2m and spending of $56.4m, spending 104% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $50.0m to $54.2m (+8.4%), an average of +2.0% a year. Over the whole period it spent 103% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Latin School of Chicago sits at the 98th percentile: it is larger than about 98% of them. 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 Montreat College ($54.0m), University of Northern Iowa Foundation ($54.3m) and University of Maryland Baltimore Foundation Inc ($53.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 7.9% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $1.7m (3.0% of expenses). Other salaries and wages came to $25.0m. At year end it held assets of $154.2m against liabilities of $43.2m, net assets of $111.0m. It reported 659 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.