Robert R McCormick Foundation

Analysis

Robert R McCormick Foundation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in March 1990, 36 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Robert R McCormick Foundation reported income of $97.6m and spending of $78.2m, spending 80% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $64.5m to $97.6m (+51%), an average of +11% a year. The sharpest change came in the year to December 2021, when income rose by 146%. Over the whole period it spent 108% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Robert R McCormick Foundation sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within IL. Charities of a similar size with the same main cause include Greater Miami Jewish Federation ($95.7m), Eric and Kelly Schwartz Charitable Trust ($99.7m) and The United Methodist Retirement Homes Inc ($95.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 15% of the total. Compensation of current officers, directors and key employees was $2.0m (2.6% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $1.64bn against liabilities of $40.6m, net assets of $1.60bn. It reported 17 employees.