Insect Asylum Inc

Analysis

Insect Asylum Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in August 2022, 4 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 January 2024, Insect Asylum Inc reported income of $246k and spending of $208k, spending 85% of its income. Across the 2 years on record, from December 2022 to January 2024, income grew from $138k to $246k (+78%), an average of +78% a year. The sharpest change came in the year to January 2024, when income rose by 78%. Over the whole period it spent 92% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Insect Asylum Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 58th percentile within IL. Charities of a similar size with the same main cause include Danielandsomesuperfriends Incorporated ($246k), Associated Artists of Pittsburgh ($246k) and Bread & Roses Missouri ($246k).

On its Form 990 for the period ending January 2024, revenue came from contributions and grants 4.8% and program service revenue 60% of the total. Compensation of current officers, directors and key employees was $13k (6.2% of expenses). At year end it held assets of $65k against liabilities of $22k, net assets of $43k.