Forward Momentum Chicago NFP

Analysis

Forward Momentum Chicago NFP is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in July 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 June 2023, Forward Momentum Chicago NFP reported income of $1.1m and spending of $1.4m, spending 121% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $861k to $1.1m (+32%), an average of +7.2% a year. The sharpest change came in the year to June 2022, when income rose by 46%. Over the whole period it spent 89% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Forward Momentum Chicago NFP sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 80th percentile within IL. Charities of a similar size with the same main cause include Project Invent ($1.1m), Urban Art Gallery ($1.1m) and 42nd Street Moon ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 45% and program service revenue 54% of the total. Compensation of current officers, directors and key employees was $140k (10% of expenses). Other salaries and wages came to $475k. At year end it held assets of $1.4m against liabilities of $194k, net assets of $1.2m. It reported 12 employees.