United Way of Spencer

Analysis

United Way of Spencer is a registered charity in United States, based in Spencer, IA. It received its IRS tax-exemption ruling in October 1973, 53 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 March 2023, United Way of Spencer reported income of $1.7m and spending of $521k, leaving 69% of income unspent that year. Across the 3 years on record, from March 2021 to March 2023, income grew from $207k to $1.7m (+703%), an average of +183% a year. The sharpest change came in the year to March 2023, when income rose by 407%. Over the whole period it spent 40% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, United Way of Spencer sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 86th percentile within IA. Charities of a similar size with the same main cause include Corpsgiving Foundation ($1.7m), Fort Recovery Ohio Community Foundation Inc ($1.7m) and Giving USA Foundation Inc ($1.7m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $10k (1.9% of expenses). At year end it held assets of $1.5m against liabilities of $0, net assets of $1.5m. It reported 1 employees.