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Art Institute of Chicago

Public charityFed auditsIRS 990990-T FY2023
DBA: % ALEXANDRA HOLT
Other · CHICAGO, IL · EIN 36-2167725

About

The purposes for which The Art Institute of Chicago is formed are: To found, build, maintain and operate museums, schools, and libraries of art and theaters; to provide support facilities in connection therewith; to conduct appropriate activities conducive to the artistic development of the region; and to conduct and participate in activities of national and international significance; To form, conserve, research, publish, and exhibit a permanent collection of objects of art of all kinds, to present temporary exhibitions including loaned objects of art of all kinds, and to cultivate and extend the arts by appropriate means; To establish and conduct comprehensive programs of education, including preparation of visual artists, teachers of art, and designers; to provide education services in written, spoken and media formats; To provide lectures, instruction and entertainment, including dramatic, film and musical performances of all kinds, which complement and further the general purposes of the Institute; To receive in trust property of all kinds and to exercise all necessary powers as trustee for such trust estates whose objects are related to the furtherance of the general purposes of the Institute or for the establishment or maintenance of works of art.

In care of Alexandra HOLT

Donations are tax-deductible
Category
Other
Employees
3,517
Volunteers
147

Financial Snapshot

FY ending 2023-06-30
Revenue
$359.5M
Expenses
$340.0M
Assets
$1.9B
Liabilities
$259.6M

Financial history

$414.9M$207.4M$0
1617181920212223
RevenueExpenses
Latest FY2023: $359.5M · Peak FY2022: $414.9M · Avg: $361.5M

Foreign activity (Schedule F)

Total spent abroad$375.5M
Foreign employees331
Foreign offices0
Foreign partnership interestYes
Foreign trust interestNo
RegionActivitySpent
Central America and the Caribbean
Central America and the Caribbean
East Asia and the Pacific
East Asia and the Pacific
East Asia and the Pacific
East Asia and the Pacific
East Asia and the Pacific
Europe (Including Iceland and Greenland)
Europe (Including Iceland and Greenland)
Europe (Including Iceland and Greenland)
Europe (Including Iceland and Greenland)
Europe (Including Iceland and Greenland)
Europe (Including Iceland and Greenland)
Europe (Including Iceland and Greenland)
Middle East and North Africa
Middle East and North Africa
Middle East and North Africa
Middle East and North Africa
Middle East and North Africa
North America (Canada & Mexico only)
North America (Canada & Mexico only)
North America (Canada & Mexico only)
North America (Canada & Mexico only)
North America (Canada & Mexico only)
North America (Canada & Mexico only)

501(h) election

This 501(c)(3) has NOT elected 501(h) — lobbying is permitted but limited under the vaguer "no substantial part of activities" test.

Political & Grant Activity

Campaign Spending
Lobbying
$5K
Grants Given
$54.7M
ART INSTITUTE OF CHICAGO
Your actions

Address

111 S Michigan AVE
Chicago, IL, 60603-611

Governance

Voting board members63
Independent members63
Conflict-of-interest policyYes
Whistleblower policyYes
Doc-retention policyYes
Audit committeeYes
990 reviewed by boardNo

Compensation practices

Severance paymentsYes
Equity-based compNo
Supplemental retirement planYes
Compensation committeeYes
Used comp surveyYes
Board approved compYes
Initial contract exceptionYes

Financial detail (Schedule D)

Board-designated %38.4%
Permanent endowment %37.1%
Endowment held by related orgNo

Fundraising activity (Schedule G)

Uses professional fundraisersYes
Gross fundraising receipts$1.3M
Net to org$586K
Retained by contractors$727K
ChannelsMail · Phone · Email · In-person · Grant solicitation
Public records
ProPublica Nonprofit Explorer
Full 990 PDFs going back to 2001, plus parsed financial extracts. The easiest place to read actual filings.
IRS Tax Exempt Organization Search
IRS-side authoritative source. Confirms current exempt status and pulls the latest determination letter.
These open in a new tab. AllCiv doesn't host filings directly — these are the authoritative public-record sources.