Chicago Hope Academy

Analysis

Chicago Hope Academy is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in April 2000, 26 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Chicago Hope Academy reported income of $9.7m and spending of $6.7m, leaving 31% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.5m to $9.7m (+116%), an average of +21% a year. The sharpest change came in the year to June 2020, when income rose by 389%. Over the whole period it spent 64% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Chicago Hope Academy sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within IL. Charities of a similar size with the same main cause include Bold Charter School ($9.7m), Princeton Charter School Inc ($9.7m) and Bio-Med Science Academy STEM School ($9.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 44% and program service revenue 20% of the total. Other salaries and wages came to $3.0m. It paid $109k in professional fundraising fees. At year end it held assets of $37.8m against liabilities of $6.0m, net assets of $31.8m. It reported 71 employees.