Spes Development Corporation
Nonprofit profile at a glance
- EIN
- 813137293
- IRS 990 coverage
- 2020–2020
- Forms available
- Form 990 2020
- Location
- Methuen, MA, USA
- Phone
- 9543913730
- Rating
- 74
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Low-Income & Subsidized Rental Housing
Reported finances
- Revenue
- $30,920
- Expenses
- $75,357
- Assets
- $850,553
- Liabilities
- $600,000
Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.
Leadership & pay
14 people listed
Executive titles in this filing
- OCTAVIEN A SPANNER (PRESIDENT)
People named in this filing
- ADRIANA AVALO (DIRECTOR)
- MAYRA COLON (DIRECTOR)
- PATRICIA A ENCINA (CHAIRMAN)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
1. To be operated exclusively as a nonprofit public benefit corporation, safeguarding the dignity of all persons by engaging in sustainable humanitarian activities and intervention strategies encompassing economic, social, educational, cultural, scientific, and technological projects for the prevention and eradication of poverty, the elimination or prejudice and discriminaton. The reduction of neighborhood tensions, and combat community tensions. 2. The corporation's programs and activities are designed to improve the living standard of all economicaly, educationally, and socially disadvantaged individuals including members of the minority community, unemployed, underemployed and low-moderate income persons on a national and global level regardless of their race, ethnicity, or religion.
What it reported doing in 2020
1. To be operated exclusively as a nonprofit public benefit corporation, safeguarding the dignity of all persons by engaging in sustainable humanitarian activities and intervention strategies encompassing economic, social, educational, cultural, scientific, and technological projects for the prevention and eradication of poverty, the elimination or prejudice and discriminaton. The reduction of neighborhood tensions, and combat community tensions.
Operating model
- Revenue model
- Grant-funded. 79% of the money available for current operations came from government grants.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 81
- Transparency & Controls: 90
- Accountability: 64
- Sustainability: 36
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 75.5%; rating input score 76
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 1 of 7 controls in place; rating input score 14
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -143.7%; rating input score 17; 17th percentile among comparable filings
- Total-asset coverage ratio: 11.29; rating input score 66; 66th percentile among comparable filings
- Liabilities to assets ratio: 0.71; rating input score 9; 9th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 100% of revenue deployed · 75.5% of spending went to programs
- Governance: 14 of 14 board members independent · 1 of 7 filing controls reported
- Programs: 2 filed program accomplishments · $57K in reported program spending
- Leadership: top reported pay $0 · 14 people listed
- Consistency: 16 of 16 current checks pass
- Schedules: 3 filed schedules
- Contacts: How to reach this organization
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Accountability: Governance controls: 5 of 6 not reported.
- High — Sustainability: Operating margin scored 17/100.
- High — Sustainability: Liabilities to assets ratio scored 9/100.