Spruce Inc

Analysis

Spruce Inc is a registered charity in United States, based in Bayfield, CO. It received its IRS tax-exemption ruling in September 2014, 12 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 2024, Spruce Inc reported income of $302k and spending of $249k, spending 83% of its income. Across the 3 years on record, from June 2022 to June 2024, income grew from $211k to $302k (+43%), an average of +20% a year. The sharpest change came in the year to June 2023, when income rose by 28%. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Spruce 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 62nd percentile, and in the 59th percentile within CO. Charities of a similar size with the same main cause include Cherry Hill Huaxia Chinese School Inc ($302k), Illuminations Center for Dyslexia Inc ($302k) and Hampton Educational Foundation ($301k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 0.5% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $72k (29% of expenses). Other salaries and wages came to $62k. At year end it held assets of $202k against liabilities of $4,589, net assets of $198k. It reported 9 employees.