Filipino American Council of Chicago

Analysis

Filipino American Council of Chicago is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in October 2022, 4 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending April 2024, Filipino American Council of Chicago reported income of $104k and spending of $77k, leaving 26% of income unspent that year. Across the 2 years on record, from April 2023 to April 2024, income grew from $81k to $104k (+29%), an average of +29% a year. The sharpest change came in the year to April 2024, when income rose by 29%. Over the whole period it spent 72% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Filipino American Council of Chicago sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 39th percentile within IL. Charities of a similar size with the same main cause include Luren Singing Society ($104k), Our Steps Inc ($104k) and First Street Gallery Inc ($104k).

On its Form 990-EZ for the period ending April 2024, revenue came from contributions and grants 81% and program service revenue 11% of the total. At year end it held assets of $91k against liabilities of $12k, net assets of $79k.