Industrial Council of Nearwest Chicago

Analysis

Industrial Council of Nearwest Chicago is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in March 1985, 41 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 December 2023, Industrial Council of Nearwest Chicago reported income of $8.6m and spending of $9.8m, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.8m to $8.6m (+211%), an average of +33% a year. The sharpest change came in the year to December 2021, when income rose by 78%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Industrial Council of Nearwest Chicago sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within IL. Charities of a similar size with the same main cause include Putnam County Aging Program Inc ($8.6m), YWCA White Plains & Central Westchester Inc ($8.6m) and Valerie Fund ($8.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 23% and program service revenue 76% of the total. Compensation of current officers, directors and key employees was $197k (2.0% of expenses). Other salaries and wages came to $2.4m. At year end it held assets of $32.1m against liabilities of $18.9m, net assets of $13.2m. It reported 54 employees.