Spanish American Merchants Association

Analysis

Spanish American Merchants Association is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in November 1994, 32 years ago. 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, Spanish American Merchants Association reported income of $1.4m and spending of $1.2m, spending 81% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.0m to $1.4m (+42%), an average of +9.1% a year. The sharpest change came in the year to December 2023, when income rose by 22%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Spanish American Merchants Association sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 81st percentile within CT. Charities of a similar size with the same main cause include Merrill Park Civic Association of Springfield Gardens Inc ($1.4m), Oak Lane Child Care Center of Pleasantville Inc ($1.4m) and National Wheelchair Basketball Association ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $199k (17% of expenses). Other salaries and wages came to $602k. At year end it held assets of $585k against liabilities of $200k, net assets of $384k. It reported 8 employees.