Spectrum 360 a New Jersey Nonprofit Corporation

Analysis

Spectrum 360 a New Jersey Nonprofit Corporation is a registered charity in United States, based in Verona, NJ. It received its IRS tax-exemption ruling in May 1941, 85 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Spectrum 360 a New Jersey Nonprofit Corporation reported income of $36.4m and spending of $35.8m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $26.4m to $36.4m (+38%), an average of +8.3% a year. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Spectrum 360 a New Jersey Nonprofit Corporation sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within NJ. Charities of a similar size with the same main cause include Pomfret School Incorporated ($36.3m), Kingswood Oxford School Inc ($36.4m) and Management Leadership for Tomorrow ($36.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.5% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $317k (0.9% of expenses). Other salaries and wages came to $19.5m. At year end it held assets of $34.8m against liabilities of $23.8m, net assets of $11.1m. It reported 547 employees.