The Spero Project Inc

Nonprofit profile at a glance

EIN
264035530
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Oklahoma City, OK, USA
Phone
4053126705
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Employment Procurement Assistance

Reported finances

Revenue
$8,617,037
Expenses
$8,206,165
Assets
$2,556,126
Liabilities
$1,322,079

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • BRAD BANDY (CO-EXECUTIVE DIRECTOR)
  • KIM BANDY (CO-EXECUTIVE DIRECTOR)
  • ADAM KLUNZINGER (BOARD PRESIDENT)
  • TRISHA HEDDLESTEN (BOARD VICE PRESIDENT)

Highest reported compensation

  • KIM BANDY (CO-EXECUTIVE DIRECTOR): $158,222 total reported compensation
  • BRAD BANDY (CO-EXECUTIVE DIRECTOR): $91,856 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide supportive services to resettled refugees and asylum seekers in Oklahoma city. Educating the broader community about issues impacting refugees and asylum seekers. Develop partnerships betwee the refugee, asylum-seeking communities and organizations.

What it reported doing in 2024

471 individuals served through employment support services, 1425 individuals served through medical and mental health navigation and support including assistance with translation, transportation, and scheduling support, 371 individuals participating in wellness / adjustment groups, 283 individuals active in adult education classes including english language and employment/life skills classes, 45 students in citizenship education classes, 260 students participating in student support programming including after school programs and educational summer programs, 123 children participating in early childhood education programming, 116 youth participating in youth mentoring programming. 207 individuals resettled through usraps reception and placement program, 2,701 individuals supported through community navigation programs.

Operating model

Revenue model
Grant-funded. 84% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 92% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - 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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 90
  • Transparency & Controls: 75
  • Accountability: 90
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.4%; rating input score 88
  • Program expense ratio: 92.8%; rating input score 93
  • Fundraising efficiency: $254.85 raised per $1 spent on fundraising; rating input score 93; 93rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 4.8%; rating input score 50; 50th percentile among comparable filings
  • Total-asset coverage ratio: 0.31; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: 0.52; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 3%; rating input score 68; 68th percentile among comparable filings

Growth

  • Program expense growth: 28.7% per year; rating input score 100; 92nd percentile among comparable filings
  • Revenue growth: 29.6% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 24.9% per year; rating input score 100; 89th percentile among comparable filings

Details

  • Where the money goes: 88.4% of revenue deployed · 92.8% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $7.6M in reported program spending
  • Leadership: top reported pay $158K · 9 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.
  • Review — Sustainability: Operating margin scored 50/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.