Sherlake Cultural Center

Analysis

Sherlake Cultural Center is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in January 2019, 7 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Sherlake Cultural Center reported income of $355k and spending of $326k, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $300k to $355k (+18%), an average of +4.3% a year. The sharpest change came in the year to December 2021, when income rose by 452%. Over the whole period it spent 56% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Sherlake Cultural Center sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 65th percentile within IL. Charities of a similar size with the same main cause include A Plus Reading Inc ($355k), Missouri School Plant Managers Association ($355k) and Nevada Center for Civic Engagement ($355k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 42% and program service revenue 58% of the total. Compensation of current officers, directors and key employees was $37k (11% of expenses). Other salaries and wages came to $32k. At year end it held assets of $1.3m against liabilities of $215k, net assets of $1.1m. It reported 4 employees.