Spectrum Empowerment Project Inc

Analysis

Spectrum Empowerment Project Inc is a registered charity in United States, based in Fall River, MA. It received its IRS tax-exemption ruling in September 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, Spectrum Empowerment Project Inc reported income of $180k and spending of $179k, spending 99% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $126k to $180k (+44%), an average of +44% a year. The sharpest change came in the year to December 2023, when income rose by 44%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Spectrum Empowerment Project Inc sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 55th percentile within MA. Charities of a similar size with the same main cause include Gray Matters Brain Cancer Foundation Inc ($180k), Eclb ($180k) and Marthas Vineyard Youth Task Force Inc ($180k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 22% and program service revenue 78% of the total. At year end it held assets of $17k against liabilities of $10k, net assets of $7,110.