Lighthouse Foundation of Chicagoland

Analysis

Lighthouse Foundation of Chicagoland is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in October 2022, 4 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, Lighthouse Foundation of Chicagoland reported income of $1.0m and spending of $731k, leaving 29% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $169k to $1.0m (+506%), an average of +146% a year. The sharpest change came in the year to December 2022, when income rose by 220%. Over the whole period it spent 81% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lighthouse Foundation of Chicagoland sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 79th percentile within IL. Charities of a similar size with the same main cause include The American Classical Orchestra Inc ($1.0m), True Concord Voices and Orchestra Inc ($1.0m) and Morris Thomspon Cultural & Visitors Center ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $155k (21% of expenses). Other salaries and wages came to $337k. At year end it held assets of $477k against liabilities of $140k, net assets of $336k. It reported 4 employees.