Illinois Arts Alliance

Analysis

Illinois Arts Alliance is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in June 1982, 44 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 September 2023, Illinois Arts Alliance reported income of $4.0m and spending of $2.3m, leaving 43% of income unspent that year. Across the 6 years on record, from June 2019 to September 2023, income grew from $820k to $4.0m (+385%), an average of +37% a year. The sharpest change came in the year to September 2022, when income rose by 450%. Over the whole period it spent 77% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Illinois Arts Alliance 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 91st percentile, and in the 91st percentile within IL. Charities of a similar size with the same main cause include St Lukes Health Foundation of Sioux City Iowa ($4.0m), Love Has No Limits Inc ($4.0m) and Masonic Home Endowment Fund Inc ($4.0m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 97% and program service revenue 3.2% of the total. Compensation of current officers, directors and key employees was $276k (12% of expenses). Other salaries and wages came to $541k. At year end it held assets of $3.6m against liabilities of $635k, net assets of $3.0m. It reported 16 employees.