Asian Improv Arts Midwest

Analysis

Asian Improv Arts Midwest is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in November 1997, 29 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, Asian Improv Arts Midwest reported income of $606k and spending of $465k, leaving 23% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $360k to $606k (+68%), an average of +14% a year. The sharpest change came in the year to December 2021, when income rose by 93%. Over the whole period it spent 78% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Asian Improv Arts Midwest sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 73rd percentile within IL. Charities of a similar size with the same main cause include Boston String Academy Inc ($606k), Ballet Chelsea ($606k) and Arts Center of Cannon County ($606k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $27k (5.8% of expenses). Other salaries and wages came to $54k. At year end it held assets of $1.4m against liabilities of $796k, net assets of $610k. It reported 6 employees.