Springmoor Inc

Analysis

Springmoor Inc is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in September 1985, 41 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Springmoor Inc reported income of $42.5m and spending of $44.7m, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $38.5m to $42.5m (+10%), an average of +2.5% a year. Over the whole period it spent 101% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Springmoor Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within NC. Charities of a similar size with the same main cause include Oak Hammock at the University of Florida Inc ($42.5m), Mississippi Food Network Inc ($42.5m) and Arc Human Service Inc ($42.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.1% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $2,700 (0.0% of expenses). At year end it held assets of $111.8m against liabilities of $136.8m, net assets of -$25.0m.