FILTER PHOTO NFP
Mission Statement
Filter Photo’s mission is two-fold: first, to serve and support the photographic communities of Chicago and the Midwest; and second, to highlight Chicago as a vital center of the national photographic community. Since 2009 Filter Photo has organized the annual Filter Photo Festival, a multi-day celebration of photography that includes workshops, lectures, exhibition receptions, artist talks, and other diverse programming. A primary component of the Festival is the portfolio reviews, through which photographers are able to connect with national and international curators, gallery directors, editors, and other elite professionals. In 2015 Filter Photo opened Filter Space, a permanent gallery and project space located in Chicago’s West Town neighborhood at 1821 West Hubbard Street, Suite 207. Filter Space hosts regular social, educational, and professional development activities, including exhibitions, workshops, and lectures.
Financial Overview — FY 2025
Compared with Peers
FY 2025| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
61.6% | 81.9% |
P10P90
|
Bottom quarter |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
36.0% | 13.7% |
P10P90
|
Bottom quarter |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
2.4% | 0.0% |
P10P90
|
Below median |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
3.2 mo | 9.4 mo |
P10P90
|
Bottom quarter |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
0.6% | 1.5% |
P10P90
|
Above median |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
51.4% | 77.2% |
P10P90
|
Top quarter |
|
Revenue growth
Year over year revenue growth
|
8.5% | 6.7% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
8.3% | 5.9% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
3.6% | 2.4% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2025 | $243K | $234K | $62K | 61.6% | 4 |
| 2024 | $224K | $216K | $53K | 61.7% | 5 |
| 2023 | $176K | $195K | $45K | 53.6% | — |
| 2022 | $176K | $185K | $65K | 56.8% | — |
| 2021 | $257K | $169K | N/A | — | 1 |
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