Chicago Community Loan Fund

Analysis

Chicago Community Loan Fund is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in July 1991, 35 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, Chicago Community Loan Fund reported income of $15.7m and spending of $10.2m, leaving 35% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $8.9m to $15.7m (+77%), an average of +15% a year. The sharpest change came in the year to December 2021, when income rose by 51%. Over the whole period it spent 63% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Chicago Community Loan Fund 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 96th percentile, and in the 96th percentile within IL. Charities of a similar size with the same main cause include Jasa Corporation ($15.7m), Lifestyles for the Disabled Inc ($15.7m) and Will County Center for Community Concerns Inc ($15.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 44% and program service revenue 48% of the total. Compensation of current officers, directors and key employees was $961k (9.4% of expenses). Other salaries and wages came to $2.7m. At year end it held assets of $180.0m against liabilities of $127.4m, net assets of $52.6m. It reported 29 employees.