Sphere Inc
Sphere Inc: Strong Asset Growth, Inconsistent Revenue
EIN: 222968009 · Ridgefield, CT · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $217K |
| Total Expenses | $89K |
| Program Spending | 70% |
| Net Assets | $1.1M |
| Transparency Score | 65/100 |
Is Sphere Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Sphere Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Sphere Inc
Sphere Inc (EIN: 222968009) is a nonprofit organization based in Ridgefield, CT. The organization reported total revenue of $217K and total assets of $1.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Sphere Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Sphere Inc is a small nonprofit that has been operating for 37 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 7.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $369K |
| Total Expenses | $89K |
| Surplus / Deficit | +$280K |
| Total Assets | $1.1M |
| Total Liabilities | $3K |
| Net Assets | $1.1M |
| Operating Margin | 75.9% |
| Debt-to-Asset Ratio | 0.3% |
| Months of Reserves | 150.1 months |
Financial Health Grade: A
In 2023, Sphere Inc reported a surplus of $280K with revenue exceeding expenses, holds 150.1 months of operating reserves (strong position), has a debt-to-asset ratio of 0.3% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Sphere Inc's revenue has grown at a compound annual growth rate (CAGR) of 7.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +169.9% | +11.5% | +45.6% |
| 2022 | -48.3% | +10.5% | -3.8% |
| 2021 | +187.3% | -30.7% | +31.3% |
| 2020 | -63.3% | -25.4% | -1.5% |
| 2019 | +116.7% | +10.6% | +22.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1989 |
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 Sphere Inc with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 70%
- fundraising: 15%
According to IRS 990 filings, Sphere Inc allocates its expenses as follows: admin: 15%, programs: 70%, fundraising: 15%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $280K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.3%.
Executive Compensation Analysis
Executive compensation cannot be assessed as specific figures for individual executives are not provided in the available data.
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 Sphere Inc's IRS 990 filings:
- Revenue has been highly inconsistent year-over-year, ranging from $92,157 (2020) to $369,183 (2023), making financial forecasting challenging.
- The provided data does not detail program spending versus administrative or fundraising, making it difficult to fully evaluate efficiency.
Strengths
The following positive indicators were identified for Sphere Inc:
- Sphere Inc has demonstrated significant asset growth, increasing from $346,658 in 2016 to $1,285,901 in 2023.
- The organization consistently reports 0% compensation from related parties, indicating good governance in this area.
- Low reported liabilities suggest a healthy financial position and minimal debt burden.
Frequently Asked Questions about Sphere Inc
Is Sphere Inc a legitimate charity?
Sphere Inc (EIN: 222968009) is a registered tax-exempt nonprofit based in Connecticut. Our AI analysis gives it a Mission Score of 65/100. It has 13 years of IRS 990 filings on record. Total revenue: $217K. 2 red flags identified. 3 strengths noted. Financial health grade: A.
How does Sphere Inc spend its money?
Sphere Inc directs 70% of its spending to programs and services. Fundraising costs 15%. This meets the 65% industry benchmark.
Are donations to Sphere Inc tax-deductible?
Sphere Inc is registered as a tax-exempt nonprofit (EIN: 222968009). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Sphere Inc's spending goes to programs?
Sphere Inc directs 70% to programs, 15% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Sphere Inc located?
Sphere Inc is headquartered in Ridgefield, Connecticut and files with the IRS under EIN 222968009.
How many years of IRS 990 filings does Sphere Inc have?
Sphere Inc 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 $217K in total revenue.
What does Sphere Inc do?
Sphere Inc is a nonprofit organization in the Unknown sector, located in Ridgefield, Connecticut. It is classified under NTEE code Unknown.
How much revenue does Sphere Inc have?
Sphere Inc reported total revenue of $217,064. Based on 13 IRS 990 filings on record.
What are Sphere Inc's total assets?
Sphere Inc holds total assets of $1,285,901 as reported in IRS 990 filings.
Where is Sphere Inc located?
Sphere Inc is based in Ridgefield, Connecticut.
What is Sphere Inc's EIN?
Sphere Inc's Employer Identification Number (EIN) is 222968009. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Sphere Inc?
Sphere Inc is classified under NTEE code Unknown (Unknown).
Is Sphere Inc a registered 501(c)(3)?
Sphere Inc appears in IRS records (EIN: 222968009). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Sphere Inc file IRS Form 990?
Yes, Sphere Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Sphere Inc's revenue in 2023?
In the 202312 filing period, Sphere Inc reported total revenue of $369,183, total expenses of $89,103, and net assets of $1,114,310.
Is Sphere Inc's revenue growing or declining?
Sphere Inc's revenue is growing. Revenue went from $136,775 (202212) to $369,183 (202312), a +169.9% change. Based on 13 filings on record.
What is Sphere Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Sphere Inc covers tax period 202312. It shows revenue of $369,183, expenses of $89,103, total assets of $1,114,310, and liabilities of $3,326.
How much does Sphere Inc spend on programs vs administration?
Based on IRS 990 analysis, Sphere Inc allocates approximately 70% of expenses to program services, 15% to administrative costs, and 15% to fundraising. Program spending is moderate relative to overhead.
Is Sphere Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Sphere Inc shows mixed signals. Mission Score: 65/100 (Good). 2 red flags identified. 3 strengths noted.
What are the red flags for Sphere Inc?
The following concerns were identified: Revenue has been highly inconsistent year-over-year, ranging from $92,157 (2020) to $369,183 (2023), making financial forecasting challenging.. The provided data does not detail program spending versus administrative or fundraising, making it difficult to fully evaluate efficiency.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Sphere Inc's strengths?
Positive indicators for Sphere Inc include: Sphere Inc has demonstrated significant asset growth, increasing from $346,658 in 2016 to $1,285,901 in 2023.. The organization consistently reports 0% compensation from related parties, indicating good governance in this area.. Low reported liabilities suggest a healthy financial position and minimal debt burden.. These findings are derived from AI analysis of the organization's financial filings.
How does Sphere Inc compensate executives?
Executive compensation cannot be assessed as specific figures for individual executives are not provided in the available data. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the substantial asset growth, how does Sphere Inc plan to leverage these assets to stabilize and grow its inconsistent revenue streams?
While assets have grown, the revenue volatility suggests a need for diversified funding strategies or more consistent program delivery that attracts stable support. The asset base could be used to generate investment income or secure larger grants.
What specific programs or initiatives contributed to the significant revenue increase in 2023 ($369,183) compared to previous years, and are these sustainable?
Without detailed program information, it's difficult to pinpoint the exact drivers. Understanding the source of this revenue spike (e.g., a large one-time grant, successful new initiative) is crucial for assessing its sustainability and future replication.
Filing History
IRS 990 filing history for Sphere Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Sphere Inc's revenue has grown by 138.5%, moving from $155K to $369K. Total assets increased by 416.9% over the same period, from $216K to $1.1M. Total functional expenses rose by 236.9%, from $26K to $89K. In its most recent filing year (2023), Sphere Inc reported a surplus of $280K, with revenue exceeding expenses. The organization holds $3K in liabilities against $1.1M in assets (debt-to-asset ratio: 0.3%), resulting in net assets of $1.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $369K | $89K | $1.1M | $3K | — | — |
| 2022 | $137K | $80K | $765K | $2K | — | — |
| 2021 | $265K | $72K | $796K | $0 | — | View 990 |
| 2020 | $92K | $104K | $606K | $3K | — | — |
| 2019 | $251K | $140K | $615K | $0 | — | View 990 |
| 2018 | $116K | $127K | $504K | $0 | — | View 990 |
| 2017 | $260K | $92K | $510K | $-4,310 | — | View 990 |
| 2016 | $94K | $113K | $347K | $0 | — | View 990 |
| 2015 | $214K | $86K | $374K | $0 | — | View 990 |
| 2014 | $71K | $189K | $245K | $0 | — | View 990 |
| 2013 | $150K | $81K | $363K | $0 | — | View 990 |
| 2012 | $134K | $121K | $293K | $0 | — | View 990 |
| 2011 | $155K | $26K | $216K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $369K, expenses of $89K, and assets of $1.1M (revenue +169.9% year-over-year).
- 2022: Revenue of $137K, expenses of $80K, and assets of $765K (revenue -48.3% year-over-year).
- 2021: Revenue of $265K, expenses of $72K, and assets of $796K (revenue +187.3% year-over-year).
- 2020: Revenue of $92K, expenses of $104K, and assets of $606K (revenue -63.3% year-over-year).
- 2019: Revenue of $251K, expenses of $140K, and assets of $615K (revenue +116.7% year-over-year).
- 2018: Revenue of $116K, expenses of $127K, and assets of $504K (revenue -55.5% year-over-year).
- 2017: Revenue of $260K, expenses of $92K, and assets of $510K (revenue +177.7% year-over-year).
- 2016: Revenue of $94K, expenses of $113K, and assets of $347K (revenue -56.2% year-over-year).
- 2015: Revenue of $214K, expenses of $86K, and assets of $374K (revenue +202.7% year-over-year).
- 2014: Revenue of $71K, expenses of $189K, and assets of $245K (revenue -53.0% year-over-year).
- 2013: Revenue of $150K, expenses of $81K, and assets of $363K (revenue +12.4% year-over-year).
- 2012: Revenue of $134K, expenses of $121K, and assets of $293K (revenue -13.5% year-over-year).
- 2011: Revenue of $155K, expenses of $26K, and assets of $216K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Sphere Inc:
Data Sources and Methodology
This transparency report for Sphere Inc 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.