Spectrum Growth Inc
- Assets
- $354.0k
- Revenue
- $5.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Lorain, OH
- Founding
- Data as of
- 12/2023
- EIN
- 86-3103724
Organization Overview
Spectrum Growth Inc is located in Lorain, OH. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spectrum Growth 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 12/2023, Spectrum Growth Inc generated $5.5m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 11.5% each year . All expenses for the organization totaled $5.2m during the year ending 12/2023. While expenses have increased by 8.8% per year over the past 2 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AN ENVIRONMENT THAT FOSTERS EXCELLENCE, SOCIAL-EMOTIONAL GROWTH, AND HEALTHY DEVELOPMENT TO ENSURE THAT ALL STUDENTS ARE PREPARED TO TAKE ON THE UNIQUE CHALLENGES OF THE 21ST CENTURY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED EDUCATIONAL SERVICES TO 168 STUDENTS AGED 3 THROUGH 21 YEARS (GRADES PRE-K THROUGH 12) WITH AUTISM SPECTRUM DISORDER (ASD) AND OTHER DISABILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alexander Garrett President | Officer | 0.25 | $375 |
Susan Smith Member | Trustee | 0.25 | $250 |
Susan Horan Member | Trustee | 0.25 | $250 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
United Property Management Co Facilities | 12/30/23 | $440,200 |
Infinity Schools School Management And Staffing | 12/30/23 | $4,114,341 |
Symba And Snap Gourmet Foods Inc Provides Student Meals | 12/30/23 | $118,171 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,431,474 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,431,474 |
| Total Program Service Revenue | $75,848 |
| Investment income | $2 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,522,252 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $4,132,216 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $367 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,507 |
| Advertising and promotion | $5,917 |
| Office expenses | $139,027 |
| Information technology | $10,526 |
| Royalties | $0 |
| Occupancy | $549,867 |
| Travel | $161,848 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $32,406 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $33,553 |
| All other expenses | $3,886 |
| Total functional expenses | $5,238,751 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$6,826 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $296,893 |
| Accounts receivable, net | $17,900 |
| 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 | $46,000 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $353,967 |
| Accounts payable and accrued expenses | $56,732 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $56,732 |
| Net assets without donor restrictions | $297,235 |
| Net assets with donor restrictions | $0 |
| 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 | $353,967 |