Mindspec Inc

Analysis

Mindspec Inc is a registered charity in United States, based in McLean, VA. It received its IRS tax-exemption ruling in December 2006, 20 years ago. Its declared purposes cover medical research, 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 December 2023, Mindspec Inc reported income of $757k and spending of $626k, spending 83% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $809k to $757k (-6.4%), an average of -1.6% a year. Over the whole period it spent 88% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Mindspec Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within VA. Charities of a similar size with the same main cause include Minnesota Community Healthcare Network ($757k), Womens Care Center-Northeast Indiana ($757k) and Lakeview Village Inc ($757k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 96% of the total. Compensation of current officers, directors and key employees was $225k (36% of expenses). Other salaries and wages came to $213k. At year end it held assets of $1.1m against liabilities of $2,994, net assets of $1.0m. It reported 8 employees.