Inspiritec Inc

Analysis

Inspiritec Inc is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in October 2000, 26 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Inspiritec Inc reported income of $70.7m and spending of $63.6m, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $40.3m to $70.7m (+75%), an average of +15% a year. The sharpest change came in the year to June 2021, when income rose by 58%. Over the whole period it spent 87% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Inspiritec Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within PA. Charities of a similar size with the same main cause include Hanover College Trustees ($70.6m), Episcopal Academy ($70.7m) and Marietta College ($70.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $809k (1.3% of expenses). Other salaries and wages came to $33.0m. At year end it held assets of $74.4m against liabilities of $6.8m, net assets of $67.5m. It reported 1,496 employees.