Specially Fit Foundation Corporation

Analysis

Specially Fit Foundation Corporation is a registered charity in United States, based in Norway. It received its IRS tax-exemption ruling in March 2022, 4 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 December 2023, Specially Fit Foundation Corporation reported income of $2.4m and spending of $2.3m, spending 92% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $562k to $2.4m (+335%), an average of +109% a year. The sharpest change came in the year to December 2022, when income rose by 247%. Over the whole period it spent 81% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Specially Fit Foundation Corporation sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile. Charities of a similar size with the same main cause include Multicultural Neurobehavioral Rehabilitation Center Inc ($2.4m), Coordinadora Paz Para LA Mujer Inc ($2.4m) and Life Styles Supports Inc ($2.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.7% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $60k (2.7% of expenses). Other salaries and wages came to $556k. At year end it held assets of $1.9m against liabilities of $847k, net assets of $1.1m. It reported 20 employees.