Hope Ignites Chicago

Analysis

Hope Ignites Chicago is a registered charity in United States, based in Wilmette, IL. It received its IRS tax-exemption ruling in December 1979, 47 years ago. 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, Hope Ignites Chicago reported income of $2.2m and spending of $2.3m, spending 104% of its income. Across the 3 years on record, from June 2021 to June 2023, income fell from $2.8m to $2.2m (-21%), an average of -11% a year. The sharpest change came in the year to June 2023, when income dropped by 31%. Over the whole period it spent 78% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hope Ignites Chicago 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 87th percentile, and in the 86th percentile within IL. Charities of a similar size with the same main cause include BBB Wise Giving Alliance ($2.2m), Presbyterian & Reformed Publishing Co ($2.2m) and Olive Glen Foundation Inc ($2.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 75% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $138k (6.0% of expenses). Other salaries and wages came to $835k. At year end it held assets of $8.5m against liabilities of $163k, net assets of $8.4m. It reported 25 employees.