Spero

Analysis

Spero is a registered charity in United States, based in Owatonna, MN. It received its IRS tax-exemption ruling in June 1972, 54 years ago. 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, Spero reported income of $13.2m and spending of $12.9m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $10.4m to $13.2m (+26%), an average of +6.0% a year. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Spero sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MN. Charities of a similar size with the same main cause include Saint Anne Institute ($13.2m), Behavior Management Systems Inc ($13.2m) and Advanced Home Care Inc ($13.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 12% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $273k (2.1% of expenses). Other salaries and wages came to $7.5m. At year end it held assets of $12.5m against liabilities of $5.9m, net assets of $6.6m. It reported 157 employees.