Classical Music Chicago

Analysis

Classical Music Chicago is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in February 1981, 45 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 June 2024, Classical Music Chicago reported income of $446k and spending of $639k, spending 143% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $2.3m to $446k (-80%), an average of -28% a year. The sharpest change came in the year to June 2020, when income dropped by 76%. Over the whole period it spent 68% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Classical Music Chicago sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 68th percentile within IL. Charities of a similar size with the same main cause include Dada NMTC 1 Inc ($446k), Burlesque Hall of Fame Inc ($446k) and Duluth Childrens Museum Inc ($446k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 81% of the total. Compensation of current officers, directors and key employees was $126k (20% of expenses). Other salaries and wages came to $167k. At year end it held assets of $2.8m against liabilities of $15k, net assets of $2.8m. It reported 4 employees.