Spencer Educational Foundation Inc

Analysis

Spencer Educational Foundation Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in May 1981, 45 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Spencer Educational Foundation Inc reported income of $2.5m and spending of $2.7m, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.5m to $2.5m (-1.3%), an average of -0.3% a year. The sharpest change came in the year to December 2020, when income dropped by 17%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Spencer Educational Foundation Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 85th percentile within NY. Charities of a similar size with the same main cause include Summit Academy Community School - Warren ($2.5m), Young Visionaries Youth Leadership Academy ($2.5m) and Northwoods Stewardship Center ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% of the total. Compensation of current officers, directors and key employees was $485k (18% of expenses). Other salaries and wages came to $413k. At year end it held assets of $9.5m against liabilities of $419k, net assets of $9.1m.