Newman Foundation at the University of Illinois

Analysis

Newman Foundation at the University of Illinois is a registered charity in United States, based in Champaign, IL. It received its IRS tax-exemption ruling in March 1946, 80 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Newman Foundation at the University of Illinois reported income of $8.6m and spending of $7.3m, spending 84% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $6.6m to $8.6m (+30%), an average of +9.2% a year. The sharpest change came in the year to June 2021, when income rose by 26%. Over the whole period it spent 75% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Newman Foundation at the University of Illinois sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within IL. Charities of a similar size with the same main cause include Shura Inc ($8.6m), Young Mens and Young Womens Hebrew Association of the Bronx ($8.6m) and Ann Arbor YMCA ($8.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.0% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $155k (2.1% of expenses). Other salaries and wages came to $359k. At year end it held assets of $50.3m against liabilities of $20.7m, net assets of $29.5m. It reported 70 employees.