Spencer Industries Foundation is located in Spencer, IA. The organization was established in 1965. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spencer Industries Foundation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 09/2023, Spencer Industries Foundation generated $9.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (32.7%) each year. All expenses for the organization totaled $196.5k during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
TO PROMOTE AND ASSIST THE GROWTH AND DEVELOPMENT OF BUSINESS CONCERNS IN SPENCER, IOWA AND SURROUNDING AREAS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Philip Ramstack President | 1 | $0 | |
Clark Cunningham Director | 1 | $0 | |
Kent Nelson Vice President | 1 | $0 | |
Mike Bryan Director | 1 | $0 | |
Jason Warren Secretary | 1 | $0 | |
Loren Reit Director | 1 | $0 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $9,726 |
Total Program Service Revenue | $0 |
Membership dues | $0 |
Investment income | $133 |
Gain or Loss | $0 |
Net Income from Gaming & Fundraising | $0 |
Other Revenue | $0 |
Total Revenue | $9,859 |
Statement of Expenses | |
---|---|
Grants and similar amounts paid | $0 |
Benefits paid to or for members | $0 |
Salaries, other compensation, and employee benefits | $0 |
Professional fees and other payments to independent contractors | $3,626 |
Occupancy, rent, utilities, and maintenance | $0 |
Printing, publications, postage, and shipping | $0 |
Other expenses | $192,862 |
Total expenses | $196,488 |
Balance Sheet | |
---|---|
Cash, savings, and investments | $130,902 |
Other assets | $0 |
Total assets | $342,348 |
Total liabilities | $30,851 |
Net assets or fund balances | $311,497 |