Centro Romero

Analysis

Centro Romero is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in October 1987, 39 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, Centro Romero reported income of $3.0m and spending of $3.2m, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.5m to $3.0m (+95%), an average of +18% a year. The sharpest change came in the year to December 2020, when income rose by 74%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Centro Romero sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within IL. Charities of a similar size with the same main cause include Tongva Taraxat Paxaavxa Conservancy ($3.0m), Boys and Girls Clubs of Edinburg Rio Grande Valley Inc ($3.0m) and Mercy Health Foundation Springfield ($3.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 43% and program service revenue 56% of the total. Compensation of current officers, directors and key employees was $71k (2.2% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $1.5m against liabilities of $491k, net assets of $981k. It reported 95 employees.