Spelman College

Analysis

Spelman College is a registered charity in United States, based in Atl, GA. It received its IRS tax-exemption ruling in July 1942, 84 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 2023, Spelman College reported income of $194.4m and spending of $160.8m, spending 83% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $136.8m to $194.4m (+42%), an average of +9.2% a year. The sharpest change came in the year to June 2020, when income rose by 43%. Over the whole period it spent 73% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Spelman College sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within GA. Charities of a similar size with the same main cause include Wentworth Institute of Technology ($193.5m), Barry University Inc ($195.0m) and University of Indianapolis ($192.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 35% and program service revenue 51% of the total. Compensation of current officers, directors and key employees was $4.0m (2.5% of expenses). Other salaries and wages came to $44.3m. It paid $205k in professional fundraising fees. At year end it held assets of $870.9m against liabilities of $72.0m, net assets of $798.9m. It reported 1,311 employees.