Gap Community Center

Analysis

Gap Community Center is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in February 2018, 8 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 2024, Gap Community Center reported income of $929k and spending of $683k, leaving 26% of income unspent that year. Across the 4 years on record, from June 2021 to June 2024, income grew from $444k to $929k (+109%), an average of +28% a year. The sharpest change came in the year to June 2024, when income rose by 126%. Over the whole period it spent 89% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Gap Community Center sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within IL. Charities of a similar size with the same main cause include Association of Alaska Housing Authorities ($928k), MRC Housing Development Fund Company Inc ($929k) and Seal Beach Shores Inc ($928k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $50k (7.4% of expenses). Other salaries and wages came to $160k. At year end it held assets of $277k against liabilities of $0, net assets of $277k. It reported 8 employees.