Friends of the Chicago River

Analysis

Friends of the Chicago River is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in August 1988, 38 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 2023, Friends of the Chicago River reported income of $2.2m and spending of $2.2m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.9m to $2.2m (+15%), an average of +3.5% a year. The sharpest change came in the year to June 2023, when income rose by 21%. Over the whole period it spent 102% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of the Chicago River sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within IL. Charities of a similar size with the same main cause include Holland Tulip Time Festival Inc ($2.2m), Mountainfilm Ltd 01-01-94 ($2.2m) and The Mattress Factory ($2.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% and program service revenue 5.2% of the total. Compensation of current officers, directors and key employees was $233k (10% of expenses). Other salaries and wages came to $952k. At year end it held assets of $3.1m against liabilities of $1.2m, net assets of $1.9m. It reported 22 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.