Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 1971.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
86 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
3 people listed on the 990; $561K paid to officers and key staff.
Jerome D Lombardi’s $260K as President, C is at the 80th percentile of top reported officer pay among 2832 $1–10M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 5 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Jerome D Lombardi | $259,708 | $259,098 | $226,718 | $194,400 | $194,200 | $194,400 |
| Kimberly Ament | $158,680 | $118,294 | — | — | — | — |
| Elizabeth Martin | $142,435 | $103,487 | $52,678 | $22,269 | — | — |
| Kimberly Dengler | — | — | $62,184 | $55,000 | $47,200 | $45,300 |
| Brenda Schmidt | — | — | — | — | $55,000 | $57,500 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
- Loans to or from officersSch L · Pt II3 listed
Programs and updates
Rehabilitates neglected properties into business incubators, creating jobs and improving neighborhoods.
Questions for Spedd INC
Your first name shows with your question. Spedd INC answers here, for everyone.
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Assist small businesses throughout the region with the creation and retention of jobs through programs which provide them with management assistance, executive recruitment, beneficial below-market leasing structures, business to business networking and procurement of both private and public funding.
By the numbers
The FY2025 990, line by line.
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| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $656K | $182K |
| InvestmentsLn 11–13 | $3.8M | $4.7M |
| Land, buildings, equipmentLn 10c | $22.7M | $22.4M |
| Total assetsLn 16 | $28.6M | $28.8M |
| LiabilitiesLn 26 | $13.6M | $12.5M |
| Net assetsLn 32 | $15.0M | $16.3M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $561K | $325K | $235K | |
| Other salaries and wagesLn 7 | $18K | $18K | ||
| Other employee benefitsLn 9 | $35K | $17K | $16K | $2K |
| Payroll taxesLn 10 | $39K | $20K | $18K | $2K |
| Accounting feesLn 11c | $25K | $25K | ||
| Other fees for servicesLn 11g | $20K | $20K | ||
| Office expensesLn 13 | $11K | $4K | $7K | $445 |
| Information technologyLn 14 | $10K | $10K | ||
| TravelLn 17 | $28K | $28K | ||
| InterestLn 20 | $674K | $674K | ||
| Depreciation, depletion and amortizationLn 22 | $582K | $582K | ||
| InsuranceLn 23 | $212K | $159K | $53K | |
| Other expenses (24a–d)Ln 24 | $602K | $602K | ||
| All other expensesLn 24e | $242K | $237K | $5K | |
| Total functional expensesLn 25 | $3.1M | $2.6M | $413K | $4K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest Viewing | $4.4M | $3.1M | $1.4M | $16.3M | 990 PDF |
| FY2024 | $4.0M | $2.9M | $1.1M | $15.0M | 990 PDF |
| FY2023 | $3.0M | $2.8M | $283K | $13.9M | 990 PDF |
| FY2022 | $4.0M | $2.8M | $1.2M | $13.6M | 990 PDF |
| FY2021 | $4.1M | $2.8M | $1.2M | $12.4M | 990 PDF |
| FY2020 | $3.4M | $2.9M | $488K | $11.2M | 990 PDF |
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Schedules filed Part IV
See the full FY2025 990 (6 parts)
Part I · Summary $4,412,783 revenue, 12 lines filed
Part VI · Governance 3 of 3 board members independent, no flags
Part VIII · Statement of revenue $4,412,783 across 5 lines filed
Part IX · Statement of functional expenses $3,058,775 across 14 lines filed
Part X · Balance sheet $28,788,923 assets, 15 lines filed
Part XI · Reconciliation of net assets $16,338,506 net assets at year end
Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File
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