Friends of the Vatican

Analysis

Friends of the Vatican is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in May 2019, 7 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Friends of the Vatican reported income of $214k and spending of $652k, spending 304% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income fell from $528k to $214k (-59%), an average of -26% a year. The sharpest change came in the year to December 2021, when income rose by 259%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of the Vatican sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 56th percentile within IL. Charities of a similar size with the same main cause include Washington Crossing Foundation ($214k), Meridian Art Association Inc ($214k) and Hero Theatre Inc ($214k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 0.1% of the total. Other salaries and wages came to $15k. At year end it held assets of $113k against liabilities of $0, net assets of $113k. It reported 1 employees.