Spectrum School

Analysis

Spectrum School is a registered charity in United States, based in Rockford, IL. It received its IRS tax-exemption ruling in March 1977, 49 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Spectrum School reported income of $889k and spending of $728k, spending 82% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $612k to $889k (+45%), an average of +9.8% a year. The sharpest change came in the year to June 2023, when income rose by 33%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Spectrum School sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 77th percentile within IL. Charities of a similar size with the same main cause include Masonry Society ($889k), Generations Inc ($889k) and BC Corp ($889k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 41% and program service revenue 58% of the total. Compensation of current officers, directors and key employees was $67k (9.2% of expenses). Other salaries and wages came to $376k. At year end it held assets of $390k against liabilities of $233k, net assets of $157k. It reported 26 employees.