Sprocket Inc

Analysis

Sprocket Inc is a registered charity in United States, based in Paducah, KY. It received its IRS tax-exemption ruling in October 2017, 9 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 June 2023, Sprocket Inc reported income of $1.0m and spending of $889k, spending 86% of its income. Across the 3 years on record, from June 2021 to June 2023, income grew from $857k to $1.0m (+20%), an average of +9.6% a year. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Sprocket Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 81st percentile within KY. Charities of a similar size with the same main cause include Region IV Head Start Association Inc ($1.0m), Jane Goodall Environmental Middle School ($1.0m) and Anchorpoint Christian School Inc ($1.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 88% and program service revenue 12% of the total. Other salaries and wages came to $160k. At year end it held assets of $2.7m against liabilities of $2.1m, net assets of $690k. It reported 4 employees.