Chicago Network Inc

Analysis

Chicago Network Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in April 2015, 11 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 June 2023, Chicago Network Inc reported income of $1.5m and spending of $1.2m, spending 80% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.4m to $1.5m (+5.8%), an average of +1.4% a year. The sharpest change came in the year to June 2021, when income rose by 328%. Over the whole period it spent 93% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Chicago Network Inc sits at the 82nd percentile: it is larger than about 82% 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 The Long Island City Partnership Inc ($1.5m), Orange County Communities Organized for Responsible Development ($1.5m) and Ending Homelessness Group ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $415k (34% of expenses). At year end it held assets of $2.8m against liabilities of $579k, net assets of $2.2m. It reported 4 employees.