Ingenuity Incorporated Chicago

Analysis

Ingenuity Incorporated Chicago is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in September 2011, 15 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 June 2023, Ingenuity Incorporated Chicago reported income of $1.5m and spending of $2.8m, spending 185% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $3.7m to $1.5m (-60%), an average of -20% a year. The sharpest change came in the year to June 2022, when income rose by 133%. Over the whole period it spent 83% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Ingenuity Incorporated Chicago sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 83rd percentile within IL. Charities of a similar size with the same main cause include Liederkranz Foundation Inc ($1.5m), Charitable Friends of Digamma Building Inc ($1.5m) and Detroit Jewish News Foundation Inc ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 87% and program service revenue 3.5% of the total. Compensation of current officers, directors and key employees was $174k (6.3% of expenses). Other salaries and wages came to $771k. It paid $65k in professional fundraising fees. At year end it held assets of $7.1m against liabilities of $675k, net assets of $6.4m. It reported 16 employees.