Music Institute Of Chicago
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2011 | 8,671,421 | 7,394,991 | 1,276,430 | 16.8 | 59% |
| 2012 | 7,300,968 | 7,487,614 | −186,646 | 16.8 | 60% |
| 2013 | 6,736,384 | 7,250,635 | −514,251 | 16.5 | 59% |
| 2014 | 6,734,765 | 7,072,888 | −338,123 | 16.8 | 60% |
| 2015 | 6,894,651 | 6,850,374 | 44,277 | 17.0 | 61% |
| 2016 | 5,895,099 | 6,572,674 | −677,575 | 16.7 | 57% |
| 2017 | 6,424,899 | 7,096,603 | −671,704 | 14.1 | 55% |
| 2018 | 6,375,620 | 7,215,932 | −840,312 | 12.9 | 58% |
| 2019 | 6,676,662 | 7,182,259 | −505,597 | 11.9 | 59% |
| 2020 | 9,121,839 | 6,908,684 | 2,213,155 | 15.3 | 62% |
| 2021 | 7,011,364 | 6,712,136 | 299,228 | 16.6 | 61% |
| 2022 | 8,335,240 | 7,217,576 | 1,117,664 | 16.5 | 58% |
| 2023 | 6,681,836 | 8,058,706 | −1,376,870 | 12.7 | 57% |
In its most recent public year (2023), this organization spent $1,376,870 more than it brought in. Its reserves stood at about 12.7 months of spending, down from 16.8 in 2011. Staff pay was 57% of spending. $3,261,354 of its net assets are donor-restricted.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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