Spectrum Inc
- Assets
- $11.3m
- Revenue
- $8.7m
- Investments
- $0.0
- Employees
- 120
- Location
- Burlington, VT
- Founding
- 11/1973
- Data as of
- 09/2023
- EIN
- 03-0253232
Organization Overview
Spectrum Inc is located in Burlington, VT. The organization was established in 1973. According to its NTEE Classification (P40) the organization is classified as: Family Services, under the broad grouping of Human Services and related organizations. As of 09/2023, Spectrum Inc employed 120 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spectrum Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2023, Spectrum Inc generated $8.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.4% each year . All expenses for the organization totaled $8.5m during the year ending 09/2023. While expenses have increased by 13.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Spectrum Inc has awarded 38 individual grants totaling $3,438,489. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO EMPOWER TEENAGERS, YOUNG ADULTS, AND THEIR FAMILIES TO MAKE AND SUSTAIN POSTIVE CHANGES THROUGH PREVENTION, INTERVENTION, AND LIFE SKILLS SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESIDENTIAL PROGRAMS INCLUDE THREE RESIDENTIAL FACILITIES AND AN EMERGENCY SHELTER PROVIDING SERVICES TO HELP YOUTH TRANSITION TO INDEPENDENT LIVING. IN FY23, SPECTRUM PROVIDED TRANSITIONAL HOUSING TO 13 INDIVIDUALS, SHORT- TERM HOUSING TO 29 INDIVIDUALS, AND WARMING SHELTER SERVICES TO 26 INDIVIDUALS.
DETAIL WORKS GIVES YOUTH PROGRESSIVE, ON-THE-JOB EXPERIENCE, WITH AN EMPHASIS ON ATTENTION, COMMUNICATION, AND ACCOUNTABILITY, AND GIVES YOUTH A CHANCE TO TRY OUT THESE SKILLS IN A SAFE ENVIRONMENT. OTHER PROGRAMS FOCUS ON INDIVIDUALIZED SERVICES FOR YOUTH, OFFERING INDEPENDENT LIVING SKILLS, JOB TRAINING AND DEVELOPMENT AND SUBSTANCE ABUSE EDUCATION, AND IDENTIFYING ADDITIONAL PROGRAMS TO HELP YOUTH BECOME CONTRIBUTING MEMBERS OF THE COMMUNITY.
THE COUNSELING PROGRAM IS NATIONALLY RECOGNIZED AND SPECIALIZES IN THE ASSESSMENT AND TREATMENT OF MENTAL HEALTH AND SUBSTANCE USE CONCERNS FOR ADOLESCENTS AND YOUNG ADULTS. IN FY23, SPECTRUM'S COUNSELING PROGRAM PROVIDED SERVICES TO 426 INDIVIDUALS.
THE OUTREACH/DROP IN CENTERS HELPS YOUTH WITH BASIC NEEDS (SUCH AS FOOD AND CLOTHING) AND OFFERS JOB TRAINING CLASSES, DRIVER EDUCATION AND OTHER SERVICES. IN FY23, SPECTRUM'S DROP-IN CENTERS PROVIDED SERVICES TO 445 INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cate Maclachlan President | OfficerTrustee | 2 | $0 |
Mary M Lee Vice Preside | OfficerTrustee | 2 | $0 |
Tom Clavelle Treasurer | OfficerTrustee | 2 | $0 |
Michelle Miller Secretary | OfficerTrustee | 2 | $0 |
Shap Smith Board Member | Trustee | 2 | $0 |
Matt Frazee Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cultural Research Solutions Llc Program Mgmt | 9/29/21 | $370,009 |
Rose Computers It Services | 9/29/21 | $142,197 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $363,945 |
| Related organizations | $0 |
| Government grants | $3,096,855 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,105,416 |
| Noncash contributions included in lines 1a–1f | $60,559 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,566,216 |
| Total Program Service Revenue | $1,015,686 |
| Investment income | $102,438 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $15,844 |
| Net Gain/Loss on Asset Sales | $52,960 |
| Net Income from Fundraising Events | -$5,558 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,747,586 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $367,624 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $199,926 |
| Compensation of current officers, directors, key employees. | $123,954 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,822,067 |
| Pension plan accruals and contributions | $65,324 |
| Other employee benefits | $780,228 |
| Payroll taxes | $301,649 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,189 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $41,459 |
| Fees for services: Other | $1,003,433 |
| Advertising and promotion | $17,720 |
| Office expenses | $75,930 |
| Information technology | $290,831 |
| Royalties | $0 |
| Occupancy | $422,013 |
| Travel | $50,317 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,694 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $155,164 |
| Insurance | $85,815 |
| All other expenses | $18,027 |
| Total functional expenses | $8,494,856 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $109,852 |
| Savings and temporary cash investments | $389,247 |
| Pledges and grants receivable | $1,463,132 |
| Accounts receivable, net | $1,311,756 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $62,302 |
| Net Land, buildings, and equipment | $3,017,590 |
| Investments—publicly traded securities | $4,684,274 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $257,324 |
| Total assets | $11,295,477 |
| Accounts payable and accrued expenses | $643,641 |
| Grants payable | $0 |
| Deferred revenue | $90,700 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $252,410 |
| Total liabilities | $986,751 |
| Net assets without donor restrictions | $6,550,123 |
| Net assets with donor restrictions | $3,758,603 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $11,295,477 |
Grants Awarded
Over the last fiscal year, Spectrum Inc has awarded $367,624 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
NORTHWESTERN MEDICAL CENTER PURPOSE: RESEARCH | $63,665 |
THE JANET S MUNT FAMILY ROOM PURPOSE: RESEARCH | $20,000 |
MIDDLEBURY COLLEGE PURPOSE: RESEARCH | $65,454 |
CHAMPLAIN COLLEGE PURPOSE: RESEARCH | $70,407 |
ST MICHAEL'S COLLEGE PURPOSE: RESEARCH | $97,873 |
CASTLETON UNIVERSITY PURPOSE: RESEARCH | $50,225 |