Spencer Agric Assoc Inc

Analysis

Spencer Agric Assoc Inc is a registered charity in United States, based in Spencer, MA. It received its IRS tax-exemption ruling in May 2020, 6 years ago. Its declared purposes cover food, agriculture and nutrition, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending October 2023, Spencer Agric Assoc Inc reported income of $655k and spending of $632k, spending 97% of its income. Across the 5 years on record, from October 2019 to October 2023, income grew from $496k to $655k (+32%), an average of +7.2% a year. The sharpest change came in the year to October 2021, when income rose by 701%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Spencer Agric Assoc Inc 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 74th percentile, and in the 74th percentile within MA. Charities of a similar size with the same main cause include Pregnancy Caring Center of Gallatin Valley Inc ($655k), St Teresa Center for Works of Mercy ($655k) and Rise of a Fallen Angel Inc ($655k).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 8.4% and program service revenue 92% of the total. Other salaries and wages came to $78k. At year end it held assets of $649k against liabilities of $0, net assets of $649k. It reported 79 employees.