The Spero Project Inc

Analysis

The Spero Project Inc is a registered charity in United States, based in Okc, OK. It received its IRS tax-exemption ruling in May 2009, 17 years ago. Its declared purposes cover employment, 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 December 2023, The Spero Project Inc reported income of $3.4m and spending of $3.7m, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $702k to $3.4m (+377%), an average of +48% a year. The sharpest change came in the year to December 2021, when income rose by 137%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, The Spero Project Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within OK. Charities of a similar size with the same main cause include Stark Economic Development Board Inc ($3.4m), Choice Unlimited ($3.4m) and Hudson Yards Hells Kitchen Business Improvement District Inc ($3.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $126k (3.4% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $1.3m against liabilities of $448k, net assets of $823k. It reported 80 employees.