Spence School
Spence School maintains substantial assets despite fluctuating annual revenues and occasional operating deficits.
EIN: 131635286 · New York, NY · NTEE: B200 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $65.3M |
| Total Expenses | $68.3M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $400 |
| Net Assets | $327.7M |
| Transparency Score | 80/100 |
Is Spence School Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Spence School directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Spence School
Spence School (EIN: 131635286) is a nonprofit organization based in New York, NY, classified under NTEE code B200. The organization reported total revenue of $65.3M and total assets of $397.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Spence School's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Spence School is a major nonprofit that has been operating for 84 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -4.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $58.1M |
| Total Expenses | $68.3M |
| Surplus / Deficit | $-10,214,406 |
| Total Assets | $386.7M |
| Total Liabilities | $59.0M |
| Net Assets | $327.7M |
| Operating Margin | -17.6% |
| Debt-to-Asset Ratio | 15.3% |
| Months of Reserves | 68.0 months |
Financial Health Grade: B
In 2023, Spence School reported a deficit of $10.2M with expenses exceeding revenue, holds 68.0 months of operating reserves (strong position), has a debt-to-asset ratio of 15.3% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Spence School's revenue has declined at a compound annual growth rate (CAGR) of -4.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -8.0% | +6.5% | -1.5% |
| 2022 | -13.6% | +9.0% | -5.7% |
| 2021 | +0.4% | +11.3% | +23.7% |
| 2020 | +45.5% | +0.6% | +5.3% |
| 2019 | -8.1% | +2.4% | +1.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1942 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Spence School with a Mission Score of 80 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Spence School allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $10.2M, with expenses exceeding revenue.
- Debt-to-asset ratio: 15.3%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's officers are not directly compensated, which is highly unusual for an organization of this size with assets nearing $400 million.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Spence School's IRS 990 filings:
- Consistent reporting of 0% officer compensation for an organization of this size, which warrants further investigation into how leadership is compensated or structured.
- Operating deficits in recent years (e.g., $10.2 million in 2023 and $1.0 million in 2022) indicate that expenses are exceeding revenues, which is not sustainable long-term without drawing from reserves.
Strengths
The following positive indicators were identified for Spence School:
- Substantial and growing asset base, reaching $396,968,006, providing financial stability and long-term capacity.
- Consistent filing of IRS Form 990s over 13 periods, demonstrating a commitment to transparency.
- Strong historical revenue generation, with several years showing significant surpluses (e.g., $14.1 million in 2021).
Frequently Asked Questions about Spence School
Is Spence School a legitimate charity?
Spence School (EIN: 131635286) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 80/100. It has 13 years of IRS 990 filings on record. Total revenue: $65.3M. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does Spence School spend its money?
Spence School directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Spence School tax-deductible?
Spence School is registered as a tax-exempt nonprofit (EIN: 131635286). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Spence School CEO make?
Spence School's highest-compensated officer earns $400 annually. The organization reported $65.3M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Spence School's spending goes to programs?
Spence School directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Spence School compare to similar nonprofits?
With a transparency score of 80/100 (Excellent), Spence School is above average for NTEE category B200 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Spence School located?
Spence School is headquartered in New York, New York and files with the IRS under EIN 131635286. It is classified under NTEE code B200.
How many years of IRS 990 filings does Spence School have?
Spence School has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $65.3M in total revenue.
How does Spence School manage its operating deficits, such as the $10.2 million deficit in 2023?
The school likely covers operating deficits through its substantial asset base, which includes an endowment, or through other non-operating income sources not detailed in the provided revenue figures.
What is the source of the significant revenue fluctuations, such as the drop from $72.9 million in 2021 to $58.0 million in 2023?
Revenue fluctuations could be attributed to varying levels of donations, investment returns, or changes in tuition income, which are common for educational institutions.
Given the 0% officer compensation, how are the school's top leadership compensated, if at all?
The 0% officer compensation reported on the 990s suggests that the individuals serving as officers may be uncompensated volunteers, or their compensation is reported under different categories not explicitly labeled as 'officer compensation' on the summary data provided.
Filing History
IRS 990 filing history for Spence School showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Spence School's revenue has declined by 41.2%, moving from $98.7M to $58.1M. Total assets increased by 52.9% over the same period, from $252.9M to $386.7M. Total functional expenses rose by 96%, from $34.8M to $68.3M. In its most recent filing year (2023), Spence School reported a deficit of $10.2M, with expenses exceeding revenue. The organization holds $59.0M in liabilities against $386.7M in assets (debt-to-asset ratio: 15.3%), resulting in net assets of $327.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $58.1M | $68.3M | $386.7M | $59.0M | — | View 990 |
| 2022 | $63.1M | $64.1M | $392.6M | $58.4M | — | View 990 |
| 2021 | $73.0M | $58.8M | $416.5M | $68.2M | — | View 990 |
| 2020 | $72.7M | $52.9M | $336.7M | $24.9M | — | View 990 |
| 2019 | $49.9M | $52.5M | $319.6M | $26.9M | — | View 990 |
| 2018 | $54.4M | $51.3M | $316.4M | $23.3M | — | View 990 |
| 2017 | $56.9M | $48.7M | $312.4M | $21.8M | — | View 990 |
| 2016 | $62.1M | $46.5M | $316.7M | $29.6M | — | View 990 |
| 2015 | $47.1M | $44.2M | $307.1M | $30.7M | — | View 990 |
| 2014 | $45.1M | $42.3M | $301.7M | $27.5M | — | View 990 |
| 2013 | $66.7M | $40.1M | $287.1M | $21.3M | — | View 990 |
| 2012 | $42.7M | $37.2M | $254.3M | $22.4M | — | View 990 |
| 2011 | $98.7M | $34.8M | $252.9M | $21.5M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $58.1M, expenses of $68.3M, and assets of $386.7M (revenue -8.0% year-over-year).
- 2022: Revenue of $63.1M, expenses of $64.1M, and assets of $392.6M (revenue -13.6% year-over-year).
- 2021: Revenue of $73.0M, expenses of $58.8M, and assets of $416.5M (revenue +0.4% year-over-year).
- 2020: Revenue of $72.7M, expenses of $52.9M, and assets of $336.7M (revenue +45.5% year-over-year).
- 2019: Revenue of $49.9M, expenses of $52.5M, and assets of $319.6M (revenue -8.1% year-over-year).
- 2018: Revenue of $54.4M, expenses of $51.3M, and assets of $316.4M (revenue -4.5% year-over-year).
- 2017: Revenue of $56.9M, expenses of $48.7M, and assets of $312.4M (revenue -8.4% year-over-year).
- 2016: Revenue of $62.1M, expenses of $46.5M, and assets of $316.7M (revenue +31.8% year-over-year).
- 2015: Revenue of $47.1M, expenses of $44.2M, and assets of $307.1M (revenue +4.5% year-over-year).
- 2014: Revenue of $45.1M, expenses of $42.3M, and assets of $301.7M (revenue -32.3% year-over-year).
- 2013: Revenue of $66.7M, expenses of $40.1M, and assets of $287.1M (revenue +56.3% year-over-year).
- 2012: Revenue of $42.7M, expenses of $37.2M, and assets of $254.3M (revenue -56.8% year-over-year).
- 2011: Revenue of $98.7M, expenses of $34.8M, and assets of $252.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Spence School:
Data Sources and Methodology
This transparency report for Spence School is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.