Athenaeum Center for Thought & Culture

Analysis

Athenaeum Center for Thought & Culture is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in May 2021, 5 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 December 2023, Athenaeum Center for Thought & Culture reported income of $3.9m and spending of $3.4m, spending 88% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $1.3m to $3.9m (+207%), an average of +75% a year. The sharpest change came in the year to December 2022, when income rose by 580%. Over the whole period it spent 46% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Athenaeum Center for Thought & Culture sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within IL. Charities of a similar size with the same main cause include Bluecoats Drum and Bugle Corps ($3.9m), City Theatre Company Inc ($3.9m) and American Craft Council ($3.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 39% and program service revenue 53% of the total. Compensation of current officers, directors and key employees was $242k (7.0% of expenses). Other salaries and wages came to $524k. At year end it held assets of $7.5m against liabilities of $34k, net assets of $7.5m. It reported 33 employees.