Springs Inc

Analysis

Springs Inc is a registered charity in United States, based in Sand Springs, OK. It received its IRS tax-exemption ruling in July 1986, 40 years ago. 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 June 2023, Springs Inc reported income of $4.5m and spending of $4.9m, spending 107% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $3.6m to $4.5m (+26%), an average of +8.1% a year. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Springs Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within OK. Charities of a similar size with the same main cause include Community Assistance Center Inc ($4.5m), Wendell Holmes Rural Fire Department ($4.5m) and Philanthropy New York Inc ($4.5m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $90k (1.8% of expenses). Other salaries and wages came to $3.1m. At year end it held assets of $2.3m against liabilities of $292k, net assets of $2.0m. It reported 124 employees.