Friends of Spannocchia

Analysis

Friends of Spannocchia is a registered charity in United States, based in Portland, ME. It received its IRS tax-exemption ruling in October 2002, 24 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Friends of Spannocchia reported income of $568k and spending of $492k, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $439k to $568k (+29%), an average of +6.7% a year. The sharpest change came in the year to December 2022, when income rose by 105%. Over the whole period it spent 91% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Friends of Spannocchia sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 68th percentile within ME. Charities of a similar size with the same main cause include Yes2jobs ($567k), Alternative Work Concepts Inc ($568k) and Auburn Downtown Partnership Inc ($567k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 36% and program service revenue 62% of the total. Compensation of current officers, directors and key employees was $40k (8.2% of expenses). At year end it held assets of $341k against liabilities of $31k, net assets of $310k. It reported 1 employees.