Illinois College of Optometry

Analysis

Illinois College of Optometry is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in June 1956, 70 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, Illinois College of Optometry reported income of $38.5m and spending of $36.8m, spending 96% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $36.5m to $38.5m (+5.5%), an average of +1.8% a year. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Illinois College of Optometry 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 98th percentile, and in the 98th percentile within IL. Charities of a similar size with the same main cause include Lees-Mcrae College Incorporated ($38.5m), University School of Milwaukee Corporation ($38.5m) and Palo Alto University Inc ($38.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 8.7% and program service revenue 81% of the total. Compensation of current officers, directors and key employees was $1.9m (5.2% of expenses). Other salaries and wages came to $15.6m. At year end it held assets of $100.2m against liabilities of $33.0m, net assets of $67.2m. It reported 599 employees.