Generations College Inc

Analysis

Generations College Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in June 1967, 59 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, Generations College Inc reported income of $5.3m and spending of $5.5m, spending 103% of its income. Across the 4 years on record, from June 2020 to June 2023, income fell from $8.0m to $5.3m (-34%), an average of -13% a year. The sharpest change came in the year to June 2022, when income rose by 46%. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Generations College Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within IL. Charities of a similar size with the same main cause include The Co-Op School ($5.3m), Headquarters of National Sales Network of African American Sales ($5.3m) and Julia Morgan School for Girls ($5.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 9.4% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $411k (7.5% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $6.9m against liabilities of $3.2m, net assets of $3.6m. It reported 50 employees.