Illinois Restaurant Association Educational Foundation Inc

Analysis

Illinois Restaurant Association Educational Foundation Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in May 1984, 42 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 publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Illinois Restaurant Association Educational Foundation Inc reported income of $488k and spending of $422k, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $440k to $488k (+11%), an average of +2.6% a year. The sharpest change came in the year to December 2020, when income rose by 92%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Illinois Restaurant Association Educational Foundation Inc sits at the 77th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 70th percentile within IL. Charities of a similar size with the same main cause include Oakland Theater Project ($488k), Pittsburgh International Folk Arts Institute ($488k) and Music Academy NFP ($487k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 50% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $118k (28% of expenses). Other salaries and wages came to $76k. At year end it held assets of $1.4m against liabilities of $36k, net assets of $1.4m.