Black United Fund of Illinois Inc

Analysis

Black United Fund of Illinois Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in February 1986, 40 years ago. 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, Black United Fund of Illinois Inc reported income of $2.5m and spending of $2.7m, spending 107% of what it took in. Across the 6 years on record, from December 2017 to December 2023, income grew from $2.2m to $2.5m (+13%), an average of +2.5% a year. The sharpest change came in the year to December 2021, when income dropped by 100%. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Black United Fund of Illinois Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 87th percentile within IL. Charities of a similar size with the same main cause include Hearing Speech & Deaf Center of Greater Cincinnati ($2.5m), Paterson Day Care 100 ($2.5m) and French Academy of Bergen County Inc ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 101% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $121k (4.5% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $1.2m against liabilities of $495k, net assets of $730k. It reported 177 employees.