Cleveland Avenue Foundation for Education Group

Analysis

Cleveland Avenue Foundation for Education Group is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in September 2021, 5 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 December 2023, Cleveland Avenue Foundation for Education Group reported income of $11.5m and spending of $7.2m, leaving 37% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income fell from $15.3m to $11.5m (-25%), an average of -13% a year. The sharpest change came in the year to December 2023, when income rose by 191%. Over the whole period it spent 69% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cleveland Avenue Foundation for Education Group sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within IL. Charities of a similar size with the same main cause include California Pacific Charter Schools ($11.5m), Hephzibah Charter Foundation Inc ($11.5m) and Frederic L Chamberlain Center Inc ($11.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $174k (2.4% of expenses). Other salaries and wages came to $618k. At year end it held assets of $14.8m against liabilities of $5.2m, net assets of $9.6m. It reported 13 employees.