Friends of Spero Academy II

Analysis

Friends of Spero Academy II is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in July 2020, 6 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Friends of Spero Academy II reported income of $901k and spending of $1.8m, spending 195% of what it took in. The sharpest change came in the year to June 2023, when income rose by 29948%. Over the whole period it spent 354% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of Spero Academy II sits at the 75th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 77th percentile within MN. Charities of a similar size with the same main cause include U-Turn ($901k), Granite Bay High Boosters Association ($901k) and Orangeburg Christian Academy Inc ($901k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 87% of the total. At year end it held assets of $25.3m against liabilities of $27.6m, net assets of -$2.3m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.