Fame Center

Analysis

Fame Center is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in April 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, Fame Center reported income of $478k and spending of $572k, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $95k to $478k (+402%), an average of +50% a year. The sharpest change came in the year to December 2020, when income rose by 155%. Over the whole period it spent 114% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Fame Center sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 69th percentile within IL. Charities of a similar size with the same main cause include Norwalk Seaport Association Inc ($478k), San Diego Chinese Historical Society and Museum ($478k) and Sculpturewalk Inc ($478k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 46% and program service revenue 53% of the total. Compensation of current officers, directors and key employees was $75k (13% of expenses). Other salaries and wages came to $259k. At year end it held assets of $197k against liabilities of $286k, net assets of -$89k. It reported 34 employees.