Spectrum Designs Foundation Ltd

Analysis

Spectrum Designs Foundation Ltd is a registered charity in United States, based in PRT Washingtn, NY. It received its IRS tax-exemption ruling in July 2011, 15 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Spectrum Designs Foundation Ltd reported income of $6.4m and spending of $6.5m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.2m to $6.4m (+53%), an average of +11% a year. The sharpest change came in the year to December 2021, when income rose by 38%. Over the whole period it spent 91% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Spectrum Designs Foundation Ltd sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 91st percentile within NY. Charities of a similar size with the same main cause include Workabilities Inc ($6.4m), North of Market Tenderloin Community Benefit Corporation ($6.4m) and Pacific Northwest Gigapop ($6.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 13% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $279k (4.3% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $6.3m against liabilities of $1.8m, net assets of $4.5m. It reported 96 employees.