Spectrios Institute for Low Vision

Analysis

Spectrios Institute for Low Vision is a registered charity in United States, based in Wheaton, IL. It received its IRS tax-exemption ruling in February 1980, 46 years ago. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Spectrios Institute for Low Vision reported income of $1.0m and spending of $1.3m, spending 129% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.1m to $1.0m (-9.7%), an average of -2.5% a year. The sharpest change came in the year to December 2022, when income rose by 61%. Over the whole period it spent 89% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Spectrios Institute for Low Vision sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 79th percentile within IL. Charities of a similar size with the same main cause include A Safe Place ($1.0m), WM L Wetzel Memorial Osteopathic Educational & Research Foundation ($1.0m) and Child Evangelism Fellowship Inc ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 53% and program service revenue 28% of the total. Compensation of current officers, directors and key employees was $178k (14% of expenses). Other salaries and wages came to $574k. At year end it held assets of $2.7m against liabilities of $126k, net assets of $2.6m. It reported 16 employees.