Illinois Bankers Education Services Inc

Analysis

Illinois Bankers Education Services Inc is a registered charity in United States, based in Springfield, IL. It received its IRS tax-exemption ruling in August 1999, 27 years ago. Its declared purposes cover education, which this site groups under education and training. 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 December 2023, Illinois Bankers Education Services Inc reported income of $1.7m and spending of $1.7m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.5m to $1.7m (+13%), an average of +3.1% a year. The sharpest change came in the year to December 2020, when income dropped by 20%. Over the whole period it spent 100% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Illinois Bankers Education Services Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 84th percentile within IL. Charities of a similar size with the same main cause include Union Bible College Inc ($1.7m), Animation Project Inc ($1.7m) and Blueprint Texas ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.1% and program service revenue 99% of the total. At year end it held assets of $92k against liabilities of $167k, net assets of -$75k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.