Spirito

Analysis

Spirito is a registered charity in United States, based in Oak Brook, IL. It received its IRS tax-exemption ruling in August 2008, 18 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Spirito reported income of $215k and spending of $284k, spending 132% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $513k to $215k (-58%), an average of -20% a year. The sharpest change came in the year to June 2021, when income dropped by 39%. Over the whole period it spent 107% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Spirito sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 56th percentile within IL. Charities of a similar size with the same main cause include Musicians Incorporated ($215k), Dreamality Inc ($215k) and Brick Studio RP Inc ($215k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 20% and program service revenue 63% of the total. Compensation of current officers, directors and key employees was $54k (19% of expenses). Other salaries and wages came to $101k. At year end it held assets of $76k against liabilities of $27k, net assets of $49k. It reported 5 employees.