Illinois Press Foundation Inc

Analysis

Illinois Press Foundation Inc is a registered charity in United States, based in Springfield, IL. It received its IRS tax-exemption ruling in December 1983, 43 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Illinois Press Foundation Inc reported income of $1.0m and spending of $1.0m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $332k to $1.0m (+210%), an average of +33% a year. The sharpest change came in the year to December 2023, when income rose by 111%. Over the whole period it spent 103% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Illinois Press Foundation Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 79th percentile within IL. Charities of a similar size with the same main cause include The Vail Jazz Foundation Inc ($1.0m), North Carolina Folk Festival ($1.0m) and Preserve Rhode Island ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 2.7% of the total. Compensation of current officers, directors and key employees was $76k (7.6% of expenses). Other salaries and wages came to $479k. It paid $15k in professional fundraising fees. At year end it held assets of $2.4m against liabilities of $893k, net assets of $1.5m. It reported 11 employees.