Spectrum Inc

Analysis

Spectrum Inc is a registered charity in United States, based in Burlington, VT. It received its IRS tax-exemption ruling in November 1973, 53 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 September 2023, Spectrum Inc reported income of $8.7m and spending of $8.5m, spending 97% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $5.6m to $8.7m (+56%), an average of +12% a year. The sharpest change came in the year to September 2022, when income rose by 35%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Spectrum Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within VT. Charities of a similar size with the same main cause include Western Kentucky Refugee Mutual Assistance Society Inc ($8.7m), Heritage Human Services Inc ($8.8m) and Tolentine Zeiser Community Life Center Inc ($8.7m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 86% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $200k (2.4% of expenses). Other salaries and wages came to $3.8m. At year end it held assets of $11.3m against liabilities of $987k, net assets of $10.3m. It reported 120 employees.