Chicago Friends Of The Elderlyfoundation
Chicago Friends Of The Elderlyfoundation shows volatile financial performance with recent deficits despite substantial assets and no executive compensation.
EIN: 208538729 · Chicago, IL · NTEE: P20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $512K |
| Total Expenses | $1.9M |
| Program Spending | 75% |
| Net Assets | $13.1M |
| Transparency Score | 80/100 |
Is Chicago Friends Of The Elderlyfoundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Chicago Friends Of The Elderlyfoundation directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Chicago Friends Of The Elderlyfoundation
Chicago Friends Of The Elderlyfoundation (EIN: 208538729) is a nonprofit organization based in Chicago, IL, classified under NTEE code P20. The organization reported total revenue of $512K and total assets of $15.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Chicago Friends Of The Elderlyfoundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Chicago Friends Of The Elderlyfoundation is a small nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 7.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $672K |
| Total Expenses | $1.9M |
| Surplus / Deficit | $-1,227,958 |
| Total Assets | $13.1M |
| Net Assets | $13.1M |
| Operating Margin | -182.7% |
| Months of Reserves | 83.0 months |
Financial Health Grade: B
In 2023, Chicago Friends Of The Elderlyfoundation reported a deficit of $1.2M with expenses exceeding revenue, holds 83.0 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Chicago Friends Of The Elderlyfoundation's revenue has grown at a compound annual growth rate (CAGR) of 7.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -57.5% | +44.2% | +1.3% |
| 2022 | +72.4% | +3648.5% | -21.6% |
| 2021 | +103.9% | -53.8% | +26.1% |
| 2020 | -18.7% | -94.6% | +8.3% |
| 2019 | -87.5% | -46.0% | -8.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Chicago Friends Of The Elderlyfoundation with a Mission Score of 80 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Chicago Friends Of The Elderlyfoundation allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $1.2M, with expenses exceeding revenue.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that its leadership serves on a volunteer basis, which is a strong positive for donor confidence and resource allocation.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Chicago Friends Of The Elderlyfoundation's IRS 990 filings:
- Significant revenue and expense volatility across years (e.g., 2023 expenses $1.9M vs. 2021 expenses $35K).
- Substantial operating deficit in 2023 ($1,899,937 expenses vs. $671,979 revenue).
- Lack of detailed expense breakdown in provided data makes it difficult to assess spending efficiency beyond top-line figures.
Strengths
The following positive indicators were identified for Chicago Friends Of The Elderlyfoundation:
- Consistently reports 0% officer compensation, indicating volunteer leadership.
- Maintains zero liabilities across all reported periods, demonstrating strong financial management of debt.
- Possesses a substantial asset base (over $15 million) providing financial stability and capacity.
- Consistent IRS 990 filing history (13 filings) indicates good transparency and compliance.
Frequently Asked Questions about Chicago Friends Of The Elderlyfoundation
Is Chicago Friends Of The Elderlyfoundation a legitimate charity?
Chicago Friends Of The Elderlyfoundation (EIN: 208538729) is a registered tax-exempt nonprofit based in Illinois. Our AI analysis gives it a Mission Score of 80/100. It has 13 years of IRS 990 filings on record. Total revenue: $512K. 3 red flags identified. 4 strengths noted. Financial health grade: B.
How does Chicago Friends Of The Elderlyfoundation spend its money?
Chicago Friends Of The Elderlyfoundation directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Chicago Friends Of The Elderlyfoundation tax-deductible?
Chicago Friends Of The Elderlyfoundation is registered as a tax-exempt nonprofit (EIN: 208538729). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Chicago Friends Of The Elderlyfoundation's spending goes to programs?
Chicago Friends Of The Elderlyfoundation directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Chicago Friends Of The Elderlyfoundation compare to similar nonprofits?
With a transparency score of 80/100 (Excellent), Chicago Friends Of The Elderlyfoundation is above average for NTEE category P20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Chicago Friends Of The Elderlyfoundation located?
Chicago Friends Of The Elderlyfoundation is headquartered in Chicago, Illinois and files with the IRS under EIN 208538729. It is classified under NTEE code P20.
How many years of IRS 990 filings does Chicago Friends Of The Elderlyfoundation have?
Chicago Friends Of The Elderlyfoundation has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $512K in total revenue.
Is Chicago Friends Of The Elderlyfoundation a good charity?
The organization exhibits strong positives like zero officer compensation, zero liabilities, and a substantial asset base. However, the significant volatility in revenue and expenses, particularly the large deficit in 2023 where expenses ($1,899,937) were nearly three times revenue ($671,979), suggests potential financial instability that warrants further investigation into its operational model and funding strategy.
How does the organization manage its large asset base?
With assets consistently over $12 million, reaching $15,647,681 in the latest period, the organization possesses significant financial reserves. While this provides stability, the recent trend of expenses exceeding revenue (e.g., 2023 expenses of $1,899,937 vs. revenue of $671,979) suggests these assets might be used to cover operational shortfalls, which could be unsustainable long-term without a clear strategy.
What caused the significant expense increase in 2023?
In 2023, expenses surged to $1,899,937 from $1,317,758 in 2022, while revenue decreased. Without detailed expense breakdowns, it's unclear if this increase was due to expanded program services, one-time investments, or rising administrative/fundraising costs. This significant jump, coupled with declining revenue, led to a substantial operating deficit for the year.
Filing History
IRS 990 filing history for Chicago Friends Of The Elderlyfoundation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Chicago Friends Of The Elderlyfoundation's revenue has grown by 133.9%, moving from $287K to $672K. Total assets increased by 26% over the same period, from $10.4M to $13.1M. Total functional expenses rose by 1074.5%, from $162K to $1.9M. In its most recent filing year (2023), Chicago Friends Of The Elderlyfoundation reported a deficit of $1.2M, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $672K | $1.9M | $13.1M | $0 | — | View 990 |
| 2022 | $1.6M | $1.3M | $13.0M | $0 | — | View 990 |
| 2021 | $916K | $35K | $16.6M | $0 | — | — |
| 2020 | $449K | $76K | $13.1M | $0 | — | — |
| 2019 | $553K | $1.4M | $12.1M | $0 | — | View 990 |
| 2018 | $4.4M | $2.6M | $13.3M | $0 | — | View 990 |
| 2017 | $576K | $1.1M | $15.0M | $0 | — | View 990 |
| 2016 | $212K | $254K | $14.3M | $0 | — | View 990 |
| 2015 | $358K | $1.6M | $13.3M | $0 | — | View 990 |
| 2014 | $701K | $80K | $15.2M | $0 | — | View 990 |
| 2013 | $365K | $73K | $14.0M | $0 | — | View 990 |
| 2012 | $375K | $65K | $12.5M | $0 | — | View 990 |
| 2011 | $287K | $162K | $10.4M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $672K, expenses of $1.9M, and assets of $13.1M (revenue -57.5% year-over-year).
- 2022: Revenue of $1.6M, expenses of $1.3M, and assets of $13.0M (revenue +72.4% year-over-year).
- 2021: Revenue of $916K, expenses of $35K, and assets of $16.6M (revenue +103.9% year-over-year).
- 2020: Revenue of $449K, expenses of $76K, and assets of $13.1M (revenue -18.7% year-over-year).
- 2019: Revenue of $553K, expenses of $1.4M, and assets of $12.1M (revenue -87.5% year-over-year).
- 2018: Revenue of $4.4M, expenses of $2.6M, and assets of $13.3M (revenue +668.7% year-over-year).
- 2017: Revenue of $576K, expenses of $1.1M, and assets of $15.0M (revenue +172.0% year-over-year).
- 2016: Revenue of $212K, expenses of $254K, and assets of $14.3M (revenue -40.8% year-over-year).
- 2015: Revenue of $358K, expenses of $1.6M, and assets of $13.3M (revenue -48.9% year-over-year).
- 2014: Revenue of $701K, expenses of $80K, and assets of $15.2M (revenue +92.2% year-over-year).
- 2013: Revenue of $365K, expenses of $73K, and assets of $14.0M (revenue -2.7% year-over-year).
- 2012: Revenue of $375K, expenses of $65K, and assets of $12.5M (revenue +30.5% year-over-year).
- 2011: Revenue of $287K, expenses of $162K, and assets of $10.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Chicago Friends Of The Elderlyfoundation:
Data Sources and Methodology
This transparency report for Chicago Friends Of The Elderlyfoundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.