Chicago Scholars Foundation

Analysis

Chicago Scholars Foundation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in March 1997, 29 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Chicago Scholars Foundation reported income of $6.9m and spending of $7.8m, spending 114% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.1m to $6.9m (+66%), an average of +14% a year. The sharpest change came in the year to June 2021, when income rose by 47%. Over the whole period it spent 107% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Chicago Scholars Foundation sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within IL. Charities of a similar size with the same main cause include Shining Star Foundation ($6.9m), Kings University ($6.9m) and Central Institute for the Deaf ($6.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 5.8% of the total. Compensation of current officers, directors and key employees was $1.0m (13% of expenses). Other salaries and wages came to $3.4m. At year end it held assets of $10.4m against liabilities of $1.5m, net assets of $8.9m. It reported 125 employees.