Apparel Industry Foundation Inc

Analysis

Apparel Industry Foundation Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in April 1989, 37 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Apparel Industry Foundation Inc reported income of $207k and spending of $178k, spending 86% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $26k to $207k (+693%), an average of +693% a year. The sharpest change came in the year to December 2023, when income rose by 693%. Over the whole period it spent 85% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Apparel Industry Foundation Inc sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 55th percentile within IL. Charities of a similar size with the same main cause include Dallas Claims Assoc ($207k), Hug It Forward Inc ($208k) and Canteen District Inc ($207k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 3.6% of the total. Compensation of current officers, directors and key employees was $42k (23% of expenses). Other salaries and wages came to $31k. At year end it held assets of $112k against liabilities of $119k, net assets of -$6,527. It reported 2 employees.