Illinois Business Financial Services

Analysis

Illinois Business Financial Services is a registered charity in United States, based in Peoria, IL. It received its IRS tax-exemption ruling in April 1982, 44 years ago. 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 September 2023, Illinois Business Financial Services reported income of $514k and spending of $544k, spending 106% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $369k to $514k (+39%), an average of +8.6% a year. The sharpest change came in the year to September 2022, when income rose by 82%. Over the whole period it spent 88% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Illinois Business Financial Services sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 70th percentile within IL. Charities of a similar size with the same main cause include The Bernard Osher Jewish Philanthropies Foundation ($513k), North Texas State Soccer Association Inc ($514k) and Madison Family Medicine Residency Corporation ($513k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 79% of the total. Compensation of current officers, directors and key employees was $100k (18% of expenses). Other salaries and wages came to $27k. At year end it held assets of $377k against liabilities of $72k, net assets of $305k. It reported 3 employees.