The Art Institute of Chicago
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$493,800,993
Program Services
52%
Other
23%
Contributions
17%
Investments
4%
Membership Dues
3%
Government Grants
1%
Fundraising Events
<1%
Expenses in 2024
$348,160,383
Salaries & Benefits
43%
Grants
16%
Offices, Occupancy & IT
13%
Other
12%
Fees to Service Providers
7%
Depreciation
7%
Interest
1%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$29,849,432
$85,701,388
+187%
Government Grants
$7,471,701
$6,531,770
-13%
Fundraising Events
$425,357
$429,819
+1%
Program Services
$217,491,387
$255,278,479
+17%
Membership Dues
$14,111,880
$14,076,386
0%
Investments
$21,945,605
$18,712,117
-15%
Other
$68,214,240
$113,071,034
+66%
Total Revenues
$359,509,602
$493,800,993
+37%
Expenses
2023
2024
Change
Grants
$54,554,069
$54,763,306
+0%
Benefits to Members
$0
$0
-
Salaries & Benefits
$140,184,386
$151,280,032
+8%
Fees to Service Providers
$21,524,830
$25,199,436
+17%
Advertising & Promotion
$2,674,795
$2,463,849
-8%
Offices, Occupancy & IT
$42,190,761
$45,154,109
+7%
Interest
$4,482,611
$4,607,600
+3%
Depreciation
$22,668,379
$22,737,404
+0%
Other
$51,679,692
$41,954,647
-19%
Total Expenses
$339,959,523
$348,160,383
+2%
Net income
2023
2024
Change
Net income
+$19,550,079
+$145,640,610
+645%
Functional Expenses
Summary
2023
2024
Change
Program
$301,999,163
$306,542,770
+2%
Admin
$27,925,641
$29,580,361
+6%
Fundraising
$10,034,719
$12,037,252
+20%
Total Expenses
$339,959,523
$348,160,383
+2%
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