Friends Of@spero Academy

Analysis

Friends Of@spero Academy is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in July 2017, 9 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation (type iii functionally integrated) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Friends Of@spero Academy reported income of $1.6m and spending of $1.5m, spending 92% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.4m to $1.6m (+20%), an average of +4.7% a year. Over the whole period it spent 110% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends Of@spero Academy sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 84th percentile within MN. Charities of a similar size with the same main cause include Paris Street Community Council Inc ($1.6m), Open Discourse Coalition ($1.6m) and Lowenstine Fund Corporation ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 95% of the total. At year end it held assets of $16.6m against liabilities of $19.0m, net assets of -$2.4m.