Instituto Cervantes of Chicago Inc

Analysis

Instituto Cervantes of Chicago Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in December 1996, 30 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Instituto Cervantes of Chicago Inc reported income of $2.3m and spending of $2.5m, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.6m to $2.3m (-11%), an average of -2.9% a year. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Instituto Cervantes of Chicago Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within IL. Charities of a similar size with the same main cause include Bloomington Theatre and Art Center Dba Artistry ($2.3m), Society of Environmental Toxicology and Chemistry of North America Inc ($2.3m) and American Society of Overseas Research ($2.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 64% and program service revenue 30% of the total. Other salaries and wages came to $710k. At year end it held assets of $4.8m against liabilities of $4.8m, net assets of $70k. It reported 47 employees.