Free Lunch Academy

Analysis

Free Lunch Academy is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in January 2015, 11 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 December 2023, Free Lunch Academy reported income of $455k and spending of $296k, leaving 35% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income fell from $885k to $455k (-49%), an average of -20% a year. The sharpest change came in the year to December 2023, when income rose by 403%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Free Lunch Academy sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 68th percentile within IL. Charities of a similar size with the same main cause include Advocacy Inc ($455k), LA Compagnia de Colombari Inc ($455k) and Carnegie Museum Foundation of Jefferson County ($455k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 62% and program service revenue 38% of the total. Other salaries and wages came to $31k. At year end it held assets of $275k against liabilities of $2,848, net assets of $272k. It reported 6 employees.