Spirits Promise Equine Rescue Corp

Analysis

Spirits Promise Equine Rescue Corp is a registered charity in United States, based in Riverhead, NY. It received its IRS tax-exemption ruling in October 2012, 14 years ago. Its declared purposes cover animal-related, which this site groups under animals. 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, Spirits Promise Equine Rescue Corp reported income of $504k and spending of $505k, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $367k to $504k (+37%), an average of +8.3% a year. The sharpest change came in the year to December 2021, when income rose by 44%. Over the whole period it spent 90% of the income it received.

Among 14,470 United States charities whose main cause is animals and that reported income, Spirits Promise Equine Rescue Corp sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 66th percentile within NY. Charities of a similar size with the same main cause include Sierras Haven for New and Used Pets ($503k), A Home 4 Spot Animal Rescue ($504k) and Midatlantic Horse Rescue Inc ($503k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% and program service revenue 9.9% of the total. Compensation of current officers, directors and key employees was $800 (0.2% of expenses). Other salaries and wages came to $145k. At year end it held assets of $274k against liabilities of $25k, net assets of $249k. It reported 11 employees.