Spirit of Harmony Foundation

Analysis

Spirit of Harmony Foundation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in June 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 (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, Spirit of Harmony Foundation reported income of $100k and spending of $80k, spending 80% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $62k to $100k (+63%), an average of +28% a year. The sharpest change came in the year to December 2022, when income rose by 49%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Spirit of Harmony Foundation sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 38th percentile within IL. Charities of a similar size with the same main cause include Cedar Basin Jazz Festival Inc ($100k), Friends of Calligraphy Inc ($100k) and North Bay Letterpress Arts ($100k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $60k (75% of expenses). At year end it held assets of $186k against liabilities of $71k, net assets of $115k. It reported 2 employees.