Latitude Inc NFP

Analysis

Latitude Inc NFP is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in October 2014, 12 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 January 2024, Latitude Inc NFP reported income of $465k and spending of $473k, spending 102% of its income. Across the 5 years on record, from January 2020 to January 2024, income grew from $278k to $465k (+67%), an average of +14% a year. The sharpest change came in the year to January 2023, when income rose by 52%. Over the whole period it spent 107% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Latitude Inc NFP sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 69th percentile within IL. Charities of a similar size with the same main cause include A Magical Journey Thru Stages Inc ($465k), San Jose Multicultural Artists Guild Inc ($465k) and Association for Visual Artists ($465k).

On its Form 990 for the period ending January 2024, revenue came from contributions and grants 52% and program service revenue 48% of the total. Compensation of current officers, directors and key employees was $200k (42% of expenses). At year end it held assets of $241k against liabilities of $99k, net assets of $142k. It reported 8 employees.

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.