Deep Springs Corporation

Analysis

Deep Springs Corporation is a registered charity in United States, based in Dyer, NV. It received its IRS tax-exemption ruling in August 1966, 60 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Deep Springs Corporation reported income of $4.6m and spending of $3.7m, leaving 20% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $8.1m to $4.6m (-44%), an average of -13% a year. The sharpest change came in the year to June 2022, when income rose by 200%. Over the whole period it spent 74% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Deep Springs Corporation sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within NV. Charities of a similar size with the same main cause include Plumbers and Pipefitters Apprenticeship Fund ($4.6m), Buffalo Collegiate Charter School ($4.6m) and Equality California Institute ($4.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 43% of the total. Compensation of current officers, directors and key employees was $425k (12% of expenses). Other salaries and wages came to $835k. At year end it held assets of $40.8m against liabilities of $179k, net assets of $40.6m. It reported 38 employees.