Luminarts Cultural Foundation at the Union League Club of Chicago

Analysis

Luminarts Cultural Foundation at the Union League Club of Chicago is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in August 1950, 76 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 February 2023, Luminarts Cultural Foundation at the Union League Club of Chicago reported income of $1.9m and spending of $860k, leaving 54% of income unspent that year. Across the 4 years on record, from February 2020 to February 2023, income grew from $630k to $1.9m (+194%), an average of +43% a year. The sharpest change came in the year to February 2023, when income rose by 82%. Over the whole period it spent 70% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Luminarts Cultural Foundation at the Union League Club of Chicago sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within IL. Charities of a similar size with the same main cause include Redwood Empire Public Television ($1.9m), Lakes Region Scholarship Foundation ($1.9m) and Seedlings to Sunflowers ($1.9m).

On its Form 990 for the period ending February 2023, revenue came from contributions and grants 69% of the total. Compensation of current officers, directors and key employees was $191k (22% of expenses). Other salaries and wages came to $151k. At year end it held assets of $3.1m against liabilities of $4,646, net assets of $3.1m. It reported 3 employees.