Wheaton 2024: Midwest Shelter for Homeless Veterans Inc. leads in largest year-over-year increase in government grant revenue

In Wheaton, Illinois, for the 2024 tax year as compared to 2023, Midwest Shelter for Homeless Veterans Inc. recorded the largest year-over-year increase in government grant revenue. The organization reported $3,308,059 in government grant revenue, up from $1,057,278 the prior year—an absolute increase of $2,250,781, which represents a 212.9% rise.

The ranking reflects non-profits with available IRS Form 990-series government grant revenue data for both the tax year shown and the immediately preceding year, and may not include every non-profit in the city. The figures are reported historical amounts; a large percentage increase can reflect a small prior-year base.

The ranking is based on IRS Form 990 filings, the annual information returns most tax-exempt organizations file with the IRS. The form includes reported revenue, expenses, assets, governance information and compensation paid to certain people, making it a public source for comparing large tax-exempt organizations' finances.

The figures reflect what each organization reported for its filing year, including total revenue, contributions, government grants, compensation, the number of employees and assets at the start and end of the year. Because nonprofits can differ by mission, structure and accounting period, the totals are best read as reported financial measures, not as a direct measure of local charitable activity.

Midwest Shelter for Homeless Veterans Inc. reported that government grants represented 72.0% of its total revenue for 2024. The organization's total revenue increased to $4,592,841 from $2,206,325 in 2023, a change of $2,386,516 or 108.2%.

In addition to grant revenue, Midwest Shelter for Homeless Veterans Inc. received $4,472,251 in total contributions for the year. The organization’s assets declined by 7.3%, from $3,659,907 at the beginning of the year to $3,391,047 at year end.

Tax-exempt organizations include a wide range of groups, such as charities, foundations, educational institutions and other mission-driven organizations. Under IRS rules, 501(c)(3) organizations must be organized and operated for exempt purposes, and their earnings cannot benefit private shareholders or individuals.