Chiarts Foundation

Analysis

Chiarts Foundation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in September 2020, 6 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Chiarts Foundation reported income of $1.9m and spending of $3.3m, spending 172% of what it took in. Across the 2 years on record, from December 2021 to June 2023, income fell from $6.2m to $1.9m (-69%), an average of -69% a year. The sharpest change came in the year to June 2023, when income dropped by 69%. Over the whole period it spent 64% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Chiarts Foundation sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within IL. Charities of a similar size with the same main cause include Economic Development Partnership of Alabama Foundation Inc ($1.9m), Alaska Literacy Program Inc ($1.9m) and Steamboat Institute ($1.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 102% of the total. Compensation of current officers, directors and key employees was $177k (5.4% of expenses). Other salaries and wages came to $386k. At year end it held assets of $2.9m against liabilities of $568k, net assets of $2.3m. It reported 18 employees.