Spektrum Health

Analysis

Spektrum Health is a registered charity in United States, based in Orlando, FL. It received its IRS tax-exemption ruling in November 2018, 8 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 June 2024, Spektrum Health reported income of $1.5m and spending of $1.6m, spending 107% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $276k to $1.5m (+452%), an average of +53% a year. The sharpest change came in the year to June 2021, when income rose by 295%. Over the whole period it spent 101% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Spektrum Health sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within FL. Charities of a similar size with the same main cause include Thoreau Navajo Outreach Incorporated ($1.5m), Todays Hope ($1.5m) and Breathe California Sacramento Region ($1.5m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 4.6% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $163k (10% of expenses). Other salaries and wages came to $393k. At year end it held assets of $117k against liabilities of $191k, net assets of -$74k. It reported 17 employees.