Industrial Areas Foundation

Analysis

Industrial Areas Foundation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in July 1941, 85 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, Industrial Areas Foundation reported income of $1.6m and spending of $1.5m, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.6m to $1.6m (-1.6%), an average of -0.4% a year. The sharpest change came in the year to December 2020, when income rose by 25%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Industrial Areas Foundation sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within IL. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($1.6m), Teams Elite Synchronized Skating Club ($1.6m) and Trust U/W Amy Lowell 10th Clause Conrad W Oberdorfer TR ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 13% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $428k (29% of expenses). Other salaries and wages came to $20k. At year end it held assets of $1.7m against liabilities of $65k, net assets of $1.6m. It reported 3 employees.