The Illinois Patrons of the Arts in the Vatican Museums

Analysis

The Illinois Patrons of the Arts in the Vatican Museums is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in March 1946, 80 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, The Illinois Patrons of the Arts in the Vatican Museums reported income of $121k and spending of $105k, spending 87% of its income. Across the 4 years on record, from June 2020 to June 2023, income fell from $129k to $121k (-6.3%), an average of -2.1% a year. The sharpest change came in the year to June 2023, when income rose by 56%. Over the whole period it spent 113% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Illinois Patrons of the Arts in the Vatican Museums sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 43rd percentile within IL. Charities of a similar size with the same main cause include Madison Educational Assistance Fund Inc ($121k), PTA California Congress of Parents Teachers & Students Inc ($121k) and Moosehead Historical Society Inc ($121k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 87% and program service revenue 8.3% of the total. Other salaries and wages came to $23k. At year end it held assets of $150k against liabilities of $660, net assets of $149k.