Spirit of Springfield Inc

Analysis

Spirit of Springfield Inc is a registered charity in United States, based in Springfield, MA. It received its IRS tax-exemption ruling in April 1991, 35 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 June 2023, Spirit of Springfield Inc reported income of $1.8m and spending of $1.6m, spending 86% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.4m to $1.8m (+30%), an average of +6.9% a year. The sharpest change came in the year to June 2022, when income rose by 17%. Over the whole period it spent 89% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Spirit of Springfield Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 84th percentile within MA. Charities of a similar size with the same main cause include Neighborhood Resilience Project ($1.8m), Higher Purpose Co ($1.8m) and Root Change ($1.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 39% and program service revenue 57% of the total. Compensation of current officers, directors and key employees was $282k (18% of expenses). Other salaries and wages came to $78k. At year end it held assets of $1.2m against liabilities of $269k, net assets of $974k. It reported 72 employees.