Springfield Technical Community College Foundation Inc
Springfield Technical Community College Foundation: Strong Asset Growth, Volatile Revenue
EIN: 222612044 · Springfield, MA · NTEE: B41Z · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $3.3M |
| Total Expenses | $356K |
| Program Spending | 70% |
| Net Assets | $6.0M |
| Transparency Score | 75/100 |
Is Springfield Technical Community College Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Springfield Technical Community College Foundation Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Springfield Technical Community College Foundation Inc
Springfield Technical Community College Foundation Inc (EIN: 222612044) is a nonprofit organization based in Springfield, MA, classified under NTEE code B41Z. The organization reported total revenue of $3.3M and total assets of $8.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Springfield Technical Community College Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Springfield Technical Community College Foundation Inc is a mid-size nonprofit that has been operating for 41 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 7.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $680K |
| Total Expenses | $356K |
| Surplus / Deficit | +$324K |
| Total Assets | $6.0M |
| Net Assets | $6.0M |
| Operating Margin | 47.7% |
| Months of Reserves | 203.5 months |
Financial Health Grade: A
In 2023, Springfield Technical Community College Foundation Inc reported a surplus of $324K with revenue exceeding expenses, holds 203.5 months of operating reserves (strong position).
Financial Trends
Over 12 years of filings (2012–2023), Springfield Technical Community College Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 7.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +7965.8% | -29.8% | +8.7% |
| 2022 | -99.1% | -21.7% | -12.3% |
| 2021 | +148.4% | -28.4% | +12.9% |
| 2020 | -16.4% | -33.8% | -9.0% |
| 2019 | -55.9% | +29.4% | -14.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 1985 |
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 Springfield Technical Community College Foundation Inc with a Mission Score of 75 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, Springfield Technical Community College Foundation 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 $324K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation details are not explicitly provided in the summary data, preventing a specific assessment of individual salaries.
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 Springfield Technical Community College Foundation Inc's IRS 990 filings:
- Significant revenue volatility, with a drastic drop to $8,426 in 2022 before a rebound to $3.3M in 2023, warrants further investigation into funding sources and stability.
- Lack of specific executive compensation figures makes it difficult to assess financial stewardship in this area.
Strengths
The following positive indicators were identified for Springfield Technical Community College Foundation Inc:
- Consistent growth in assets over the past seven years, indicating strong financial management and investment.
- The foundation successfully rebounded with substantial revenue ($3.3M) in 2023 after a very low year in 2022, demonstrating resilience.
- Clear and consistent filing of financial data (Form 990s) over multiple years.
Frequently Asked Questions about Springfield Technical Community College Foundation Inc
Is Springfield Technical Community College Foundation Inc a legitimate charity?
Springfield Technical Community College Foundation Inc (EIN: 222612044) is a registered tax-exempt nonprofit based in Massachusetts. Our AI analysis gives it a Mission Score of 75/100. It has 12 years of IRS 990 filings on record. Total revenue: $3.3M. 2 red flags identified. 3 strengths noted. Financial health grade: A.
How does Springfield Technical Community College Foundation Inc spend its money?
Springfield Technical Community College Foundation Inc directs 70% of its spending to programs and services. Fundraising costs 15%. This meets the 65% industry benchmark.
Are donations to Springfield Technical Community College Foundation Inc tax-deductible?
Springfield Technical Community College Foundation Inc is registered as a tax-exempt nonprofit (EIN: 222612044). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Springfield Technical Community College Foundation Inc's spending goes to programs?
Springfield Technical Community College Foundation Inc directs 70% to programs, 15% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Springfield Technical Community College Foundation Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Springfield Technical Community College Foundation Inc is above average for NTEE category B41Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Springfield Technical Community College Foundation Inc located?
Springfield Technical Community College Foundation Inc is headquartered in Springfield, Massachusetts and files with the IRS under EIN 222612044. It is classified under NTEE code B41Z.
How many years of IRS 990 filings does Springfield Technical Community College Foundation Inc have?
Springfield Technical Community College Foundation Inc has 12 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 $3.3M in total revenue.
What does Springfield Technical Community College Foundation Inc do?
Springfield Technical Community College Foundation Inc is a nonprofit organization in the Education sector, located in Springfield, Massachusetts. It is classified under NTEE code B41Z.
How much revenue does Springfield Technical Community College Foundation Inc have?
Springfield Technical Community College Foundation Inc reported total revenue of $3,333,044. Based on 12 IRS 990 filings on record.
What are Springfield Technical Community College Foundation Inc's total assets?
Springfield Technical Community College Foundation Inc holds total assets of $8,114,557 as reported in IRS 990 filings.
Where is Springfield Technical Community College Foundation Inc located?
Springfield Technical Community College Foundation Inc is based in Springfield, Massachusetts.
What is Springfield Technical Community College Foundation Inc's EIN?
Springfield Technical Community College Foundation Inc's Employer Identification Number (EIN) is 222612044. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Springfield Technical Community College Foundation Inc?
Springfield Technical Community College Foundation Inc is classified under NTEE code B41Z (Education).
Is Springfield Technical Community College Foundation Inc a registered 501(c)(3)?
Yes, Springfield Technical Community College Foundation Inc is recognized as a tax-exempt organization by the IRS. EIN: 222612044.
Does Springfield Technical Community College Foundation Inc file IRS Form 990?
Yes, Springfield Technical Community College Foundation Inc has 12 IRS Form 990 filings on record. The most recent covers tax period 202306.
What was Springfield Technical Community College Foundation Inc's revenue in 2023?
In the 202306 filing period, Springfield Technical Community College Foundation Inc reported total revenue of $679,623, total expenses of $355,761, and net assets of $6,033,514.
Is Springfield Technical Community College Foundation Inc's revenue growing or declining?
Springfield Technical Community College Foundation Inc's revenue is growing. Revenue went from $8,426 (202206) to $679,623 (202306), a +7965.8% change. Based on 12 filings on record.
What is Springfield Technical Community College Foundation Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Springfield Technical Community College Foundation Inc covers tax period 202306. It shows revenue of $679,623, expenses of $355,761, total assets of $6,033,514, and liabilities of N/A.
How much does Springfield Technical Community College Foundation Inc spend on programs vs administration?
Based on IRS 990 analysis, Springfield Technical Community College Foundation 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 Springfield Technical Community College Foundation Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Springfield Technical Community College Foundation Inc appears trustworthy. Mission Score: 75/100 (Good). 2 red flags identified. 3 strengths noted.
What are the red flags for Springfield Technical Community College Foundation Inc?
The following concerns were identified: Significant revenue volatility, with a drastic drop to $8,426 in 2022 before a rebound to $3.3M in 2023, warrants further investigation into funding sources and stability.. Lack of specific executive compensation figures makes it difficult to assess financial stewardship in this area.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Springfield Technical Community College Foundation Inc's strengths?
Positive indicators for Springfield Technical Community College Foundation Inc include: Consistent growth in assets over the past seven years, indicating strong financial management and investment.. The foundation successfully rebounded with substantial revenue ($3.3M) in 2023 after a very low year in 2022, demonstrating resilience.. Clear and consistent filing of financial data (Form 990s) over multiple years.. These findings are derived from AI analysis of the organization's financial filings.
How does Springfield Technical Community College Foundation Inc compensate executives?
Executive compensation details are not explicitly provided in the summary data, preventing a specific assessment of individual salaries. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
What caused the extreme revenue fluctuation, particularly the drop to $8,426 in 2022 and the subsequent surge to $3,333,044 in 2023?
The provided data does not specify the exact causes. This level of volatility suggests reliance on large, infrequent donations or grants, or significant changes in fundraising strategies. Further investigation into the 2022 and 2023 financial statements would be needed to identify specific revenue streams.
How does the foundation manage its assets to ensure long-term stability and support for Springfield Technical Community College?
With assets growing from $6.9M in 2016 to $8.1M in 2023, the foundation appears to have a strategy for asset accumulation. However, without details on investment policies or endowment management, it's difficult to assess the specific approach to long-term stability beyond the overall growth trend.
Filing History
IRS 990 filing history for Springfield Technical Community College Foundation Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Springfield Technical Community College Foundation Inc's revenue has grown by 113.8%, moving from $318K to $680K. Total assets increased by 10.9% over the same period, from $5.4M to $6.0M. Total functional expenses fell by 45%, from $646K to $356K. In its most recent filing year (2023), Springfield Technical Community College Foundation Inc reported a surplus of $324K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $680K | $356K | $6.0M | $0 | — | View 990 |
| 2022 | $8K | $507K | $5.6M | $5K | — | View 990 |
| 2021 | $916K | $647K | $6.3M | $27K | — | View 990 |
| 2020 | $369K | $904K | $5.6M | $5K | — | View 990 |
| 2019 | $441K | $1.4M | $6.2M | $53K | — | View 990 |
| 2018 | $1.0M | $1.1M | $7.2M | $160K | — | View 990 |
| 2017 | $754K | $733K | $7.1M | $149K | — | View 990 |
| 2016 | $967K | $577K | $6.9M | $183K | — | View 990 |
| 2015 | $670K | $607K | $6.6M | $259K | — | View 990 |
| 2014 | $507K | $462K | $6.6M | $228K | — | View 990 |
| 2013 | $560K | $433K | $5.9M | $3K | — | View 990 |
| 2012 | $318K | $646K | $5.4M | $23K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $680K, expenses of $356K, and assets of $6.0M (revenue +7965.8% year-over-year).
- 2022: Revenue of $8K, expenses of $507K, and assets of $5.6M (revenue -99.1% year-over-year).
- 2021: Revenue of $916K, expenses of $647K, and assets of $6.3M (revenue +148.4% year-over-year).
- 2020: Revenue of $369K, expenses of $904K, and assets of $5.6M (revenue -16.4% year-over-year).
- 2019: Revenue of $441K, expenses of $1.4M, and assets of $6.2M (revenue -55.9% year-over-year).
- 2018: Revenue of $1.0M, expenses of $1.1M, and assets of $7.2M (revenue +32.7% year-over-year).
- 2017: Revenue of $754K, expenses of $733K, and assets of $7.1M (revenue -22.0% year-over-year).
- 2016: Revenue of $967K, expenses of $577K, and assets of $6.9M (revenue +44.5% year-over-year).
- 2015: Revenue of $670K, expenses of $607K, and assets of $6.6M (revenue +32.1% year-over-year).
- 2014: Revenue of $507K, expenses of $462K, and assets of $6.6M (revenue -9.5% year-over-year).
- 2013: Revenue of $560K, expenses of $433K, and assets of $5.9M (revenue +76.2% year-over-year).
- 2012: Revenue of $318K, expenses of $646K, and assets of $5.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Springfield Technical Community College Foundation Inc:
Data Sources and Methodology
This transparency report for Springfield Technical Community College Foundation 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.