Montgomery Place

Analysis

Montgomery Place is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in December 1988, 38 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 June 2023, Montgomery Place reported income of $19.4m and spending of $20.6m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $17.2m to $19.4m (+12%), an average of +3.0% a year. The sharpest change came in the year to June 2021, when income dropped by 16%. Over the whole period it spent 110% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Montgomery Place sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within IL. Charities of a similar size with the same main cause include Public Policy Institute of California ($19.4m), Colorado Regional Health Information Organization ($19.4m) and Community Development Institute Kansas ($19.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.6% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $649k (3.2% of expenses). Other salaries and wages came to $8.1m. At year end it held assets of $30.9m against liabilities of $62.0m, net assets of -$31.1m. It reported 193 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.