Spedd Inc

Analysis

Spedd Inc is a registered charity in United States, based in Vandergrift, PA. It received its IRS tax-exemption ruling in January 1971, 55 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Spedd Inc reported income of $3.0m and spending of $2.8m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $4.0m to $3.0m (-24%), an average of -6.5% a year. The sharpest change came in the year to June 2023, when income dropped by 25%. Over the whole period it spent 78% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Spedd Inc sits at the 89th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 88th percentile within PA. Charities of a similar size with the same main cause include Generation US ($3.0m), Thread Capital ($3.0m) and Lafayette Industries North Inc ($3.0m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 94% of the total. Compensation of current officers, directors and key employees was $342k (12% of expenses). At year end it held assets of $28.7m against liabilities of $14.8m, net assets of $13.9m. It reported 3 employees.