Diamond Kut Charities

Analysis

Diamond Kut Charities is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in June 2020, 6 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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, Diamond Kut Charities reported income of $107k and spending of $62k, leaving 42% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $49k to $107k (+119%), an average of +119% a year. The sharpest change came in the year to December 2023, when income rose by 119%. Over the whole period it spent 64% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Diamond Kut Charities sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 40th percentile within IL. Charities of a similar size with the same main cause include Hui International ($107k), Orcas Island Lions Club Foundation ($107k) and Carnegie Community Development Corporation ($107k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $658k against liabilities of $5,500, net assets of $652k.