Spida Inc

Analysis

Spida Inc is a registered charity in United States, based in Dallas, TX. It received its IRS tax-exemption ruling in June 1997, 29 years ago. Its declared purposes cover education, which this site groups under education and training. 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 May 2023, Spida Inc reported income of $2.6m and spending of $1.9m, leaving 27% of income unspent that year. Across the 5 years on record, from May 2019 to May 2023, income grew from $968k to $2.6m (+164%), an average of +28% a year. The sharpest change came in the year to May 2023, when income rose by 48%. Over the whole period it spent 79% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Spida 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 91st percentile within TX. Charities of a similar size with the same main cause include A Continuous Charity Foundation ($2.6m), Codecrew ($2.6m) and Twin Ridges Home Study Charter School ($2.6m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 84% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $375k (20% of expenses). Other salaries and wages came to $608k. It paid $16k in professional fundraising fees. At year end it held assets of $2.0m against liabilities of $166k, net assets of $1.8m. It reported 23 employees.