Hyde Park Art Center

Analysis

Hyde Park Art Center is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in May 1978, 48 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 December 2023, Hyde Park Art Center reported income of $3.7m and spending of $4.0m, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.5m to $3.7m (+48%), an average of +10% a year. The sharpest change came in the year to December 2020, when income rose by 78%. Over the whole period it spent 74% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hyde Park Art Center sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within IL. Charities of a similar size with the same main cause include Ashley for the Arts Ltd ($3.7m), Barnum Museum Foundation Inc ($3.7m) and Cape Arts & Entertainment Inc ($3.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 75% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $335k (8.4% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $11.7m against liabilities of $224k, net assets of $11.5m. It reported 34 employees.