Spectrum Building Company

Analysis

Spectrum Building Company is a registered charity in United States, based in Elk River, MN. It received its IRS tax-exemption ruling in October 2012, 14 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Spectrum Building Company reported income of $1.8m and spending of $1.5m, spending 83% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.3m to $1.8m (+35%), an average of +7.8% a year. The sharpest change came in the year to June 2023, when income rose by 30%. Over the whole period it spent 101% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Spectrum Building Company sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 84th percentile within MN. Charities of a similar size with the same main cause include Mira Education ($1.8m), Montgomery Education Foundation ($1.8m) and Lexington Institute ($1.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 6.4% and program service revenue 90% of the total. At year end it held assets of $19.3m against liabilities of $22.6m, net assets of -$3.2m.