Spirit of America Foundation

Analysis

Spirit of America Foundation is a registered charity in United States, based in Chattanooga, TN. It received its IRS tax-exemption ruling in April 1993, 33 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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, Spirit of America Foundation reported income of $1.3m and spending of $1.4m, spending 112% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $828k to $1.3m (+52%), an average of +11% a year. The sharpest change came in the year to December 2020, when income rose by 226%. Over the whole period it spent 81% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Spirit of America Foundation sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within TN. Charities of a similar size with the same main cause include Gaming Cxmmunity ($1.3m), C5 Youth Foundation of Georgia Inc ($1.3m) and Boys & Girls Club of the Eastern Panhandle ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $174k (12% of expenses). At year end it held assets of $1.7m against liabilities of $0, net assets of $1.7m. It reported 1 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.