Spectrum Biobank Inc

Analysis

Spectrum Biobank Inc is a registered charity in United States, based in Portola Vally, CA. It received its IRS tax-exemption ruling in May 2020, 6 years ago. Its declared purposes cover medical research, 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 December 2023, Spectrum Biobank Inc reported income of $273k and spending of $327k, spending 120% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $468k to $273k (-42%), an average of -24% a year. The sharpest change came in the year to December 2022, when income dropped by 36%. Over the whole period it spent 65% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Spectrum Biobank 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 60th percentile, and in the 62nd percentile within CA. Charities of a similar size with the same main cause include Living Scripture Institute ($273k), Care Net Pregnancy Medical Center ($273k) and SEND Me St Louis ($273k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $140k. At year end it held assets of $368k against liabilities of $92, net assets of $368k. It reported 2 employees.