Robert R McCormick Foundation

Analysis

Robert R McCormick Foundation is a registered charity in United States, based in Wheaton, IL. It received its IRS tax-exemption ruling in March 1990, 36 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, Robert R McCormick Foundation reported income of $50.1m and spending of $37.1m, leaving 26% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $63.0m to $50.1m (-21%), an average of -5.6% a year. The sharpest change came in the year to December 2022, when income rose by 118%. Over the whole period it spent 61% of the income it received.

Among 72,936 United States charities whose main cause is other charitable 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 98th percentile within IL. Charities of a similar size with the same main cause include The Chrysalis Center ($50.0m), Interfaith Ministries for Greater Houston ($50.3m) and East Tenn Human Resource Agency Inc ($50.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 56% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $2.8m (7.5% of expenses). Other salaries and wages came to $6.1m. At year end it held assets of $497.8m against liabilities of $68.5m, net assets of $429.3m. It reported 206 employees.