Aspermont Small Business Development Center Inc

Analysis

Aspermont Small Business Development Center Inc is a registered charity in United States, based in Aspermont, TX. It received its IRS tax-exemption ruling in November 1966, 60 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 February 2024, Aspermont Small Business Development Center Inc reported income of $3.7m and spending of $3.3m, spending 89% of its income. Across the 5 years on record, from February 2020 to February 2024, income grew from $2.8m to $3.7m (+29%), an average of +6.6% a year. The sharpest change came in the year to February 2023, when income rose by 32%. Over the whole period it spent 91% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Aspermont Small Business Development Center Inc 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 90th percentile, and in the 93rd percentile within TX. Charities of a similar size with the same main cause include Circles of Care ($3.7m), Ephrata Re-Uzit Stores ($3.7m) and Community Connections of Ny Inc ($3.7m).

On its Form 990 for the period ending February 2024, revenue came from contributions and grants 98% and program service revenue 1.2% of the total. Compensation of current officers, directors and key employees was $70k (2.2% of expenses). Other salaries and wages came to $754k. At year end it held assets of $2.6m against liabilities of $32k, net assets of $2.6m. It reported 27 employees.