Spectra Health

Analysis

Spectra Health is a registered charity in United States, based in Grand Forks, ND. It received its IRS tax-exemption ruling in July 2003, 23 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 May 2024, Spectra Health reported income of $9.8m and spending of $8.1m, spending 82% of its income. Across the 5 years on record, from May 2020 to May 2024, income grew from $5.7m to $9.8m (+72%), an average of +14% a year. The sharpest change came in the year to May 2021, when income rose by 32%. Over the whole period it spent 87% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Spectra Health sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within ND. Charities of a similar size with the same main cause include Center for Aging and Rehabilitation of Miami Gardens Inc ($9.8m), Deckerville Community Hospital Inc ($9.8m) and Helphopelive Inc ($9.8m).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 29% and program service revenue 70% of the total. Compensation of current officers, directors and key employees was $371k (4.6% of expenses). Other salaries and wages came to $4.7m. At year end it held assets of $11.2m against liabilities of $2.0m, net assets of $9.1m. It reported 110 employees.