Institute for Latino Progress

Analysis

Institute for Latino Progress is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in September 1977, 49 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2024, Institute for Latino Progress reported income of $22.2m and spending of $23.6m, spending 106% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $5.5m to $22.2m (+301%), an average of +32% a year. The sharpest change came in the year to June 2022, when income rose by 88%. Over the whole period it spent 107% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Institute for Latino Progress sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within IL. Charities of a similar size with the same main cause include Artman Lutheran Home ($22.2m), Child & Family Resources Inc ($22.2m) and Camden County Partnership for Children Inc ($22.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 99% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $351k (1.5% of expenses). Other salaries and wages came to $10.8m. At year end it held assets of $22.3m against liabilities of $10.7m, net assets of $11.6m. It reported 271 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.