Spes Development Corporation

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EIN 81-3137293 Unknown exempt organization Methuen, MA

Form 990 (PDF)

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Revenue & expenses by yearFY2020–FY2021

Revenue

$42K

FY2021▲ +36%

Expenses

$113K

FY2021▲ +50%

Spes Development Corporation EIN 81-3137293 Form 990 (PDF) Claim this org

Form 990 (PDF) Claim this org

Form 990 for the fiscal year ending December 2021 (IRS tax year 2021).

Provides humanitarian aid and education to reduce poverty and discrimination. For fiscal year 2021 it reported $42K in revenue, $113K in expenses, and $214K in net assets.Pt I

Type: Unknown exempt organization · Nonprofit
Location: Methuen, MA
Website: melitafarms.com
Filings: 2 on file (2020–2021)

Revenue

$42KFY2021

Expenses

$113K

Net assets

$214K

People

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Provided by the organization

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Size

<$100K

What they do

Provides humanitarian aid and education to reduce poverty and discrimination.

Leadership

Adriana Avalo · Director

Money in and out

$42K revenue, $113K expenses

Bottom line

-170% surplus margin

What Funders Ask

6 questions, answered from this org's own filings

Will my donation be tax-deductible?

NEUTRAL

Not on file

IRS deductibility code is not on file for this EIN. See detail →

Can I donate to this org right now?

GOOD

Yes — exemption reinstated (2019-05-15)

The IRS auto-revocation list shows this EIN's exemption reinstated. See detail →

Is this organization up to date?

CRITICAL

No filing since FY2021 — 5 yrs

Most recent Form 990 on file is for fiscal year 2021 (5 years ago). See detail →

Is it receiving grants from reputable foundations?

GOOD

1 funder — Eastern Bank Charitable Foundation

1 distinct foundation funder(s) on file, $1K received in the most recent year with grants. See detail →

How is the money spent?

GOOD

70% to programs

70% of total functional expenses went to program services in the most recent filing (Form 990 Part IX); the rest is overhead and fundraising. See detail →

What's its financial size and trend?

NEUTRAL

<$100K · ↑ +36% vs prior year

Revenue band <$100K, +36% versus the prior filing year (up). See detail →

Reported financial activity · FY2021

Total revenue

$42K

Pt VIII · Ln 12

Total expenses

$113K

Pt IX · Ln 25

Net assets

$214K

Pt X · Ln 32

Revenue less expenses (Pt I · Ln 19): −$71K

Where spending went · Part IX cols B–D

70%

30%

Program services $0.70 Management & general $0.30

Surplus margin

-170%

revenue over expenses, this year▼ -18% vs prior filing year

Program spending

70%

of expenses reach programs▼ -8% vs prior filing year

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Summary of the Filing

Part I · fiscal year 2021 · Form 990

Total assets

$817K

FY2021▼ -4%

Total liabilities

$603K

FY2021+0.5%

Revenue less expensesPt I · Ln 19−$71K

Total assetsPt X · Ln 16$817K

Program-expense ratioPt IX · col B70%

Voting members of governing bodyPt I · Ln 314

Independent voting membersPt I · Ln 414

Identity & Classification

Form 990 Header · IRS Business Master File

Legal name (IRS)Hdr · item CSpes Development Corporation

EINHdr · item D81-3137293

Principal addressHdr · item CMethuen, MA

WebsiteHdr · item Jmelitafarms.com

Year of formationHdr · item Lpending

State of legal domicileHdr · item MMA

Exempt statusHdr · item I501(c)(3) · active

NTEE classificationIRS BMFNonprofit

Ruling yearIRS BMFpending

Governance & Policies

Part VI

Voting members of the governing bodyPt VI · Ln 1a14

Independent voting membersPt VI · Ln 1b14

Conflict-of-interest policyPt VI · Ln 12aNo

Whistleblower policyPt VI · Ln 13No

Document retention policyPt VI · Ln 14No

CEO/top-official compensation independently reviewedPt VI · Ln 15aNo

Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation

Adriana Avalo

Director

$0Pt VII · Sec A

Mayra Colon

Director

$0Pt VII · Sec A

Patricia a Encina

Chairman

$0Pt VII · Sec A

Kelly M Gallagher

Director

$0Pt VII · Sec A

Maximo Guerrero

Director

$0Pt VII · Sec A

Michele R Harris

Director

$0Pt VII · Sec A

Courtney D Hockman

Director

$0Pt VII · Sec A

Paul Lopez

Director

$0Pt VII · Sec A

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Mission & Programs · Part III

Where the work happens

1 program service account for $19K of program spending, described in the organization's own filed words · FY2021.

1. To be operated exclusively as a nonprofit public benefit corporation, safeguarding the dignity of all persons by engaging in sustainable humanitarian activities and intervention strategies encompassing economic, social, educational, cultural, scientific, and technological projects for the prevention and eradication of poverty, the…

$19Kprogram expense

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Statement of Revenue

Part VIII

Program service revenue$28K · 66%

Contributions & grants$14K · 34%

Program service revenue66%$28K

Contributions & grants34%$14K

— government grantsLn 1e$14K

Total revenueLn 12$42K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising

Allocation · columns B–D

70%

30%

Program services $0.70 Management & general $0.30

Program services70%$79K

Management & general30%$34K

Total functional expensesLn 25$113K

Balance Sheet

Part X · end of year

CashLn 1$15K

Total assetsLn 16$817K

Total liabilitiesLn 26$603K

Total net assetsLn 32$214K

Months of cash on handcomputed1.6

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it

Liquidity & Payout

Operating runway

Highly liquid reserves $15K · Operating expenses/yr $113K

1.6 months

Where the money goes

Program services

Program services $79K · Total expenses $113K

70%

Management & General

Management & general $34K · Total expenses $113K

30%

Fundraising

Fundraising $0 · Total expenses $113K

Cost to raise $1

Fundraising expense (2-yr avg) $0 · Solicited contributions (2-yr avg) $4K

Solicited contributions below reporting floor

Where the money comes from

Contribution dependence

Contributions & grants $14K · Total revenue $42K

34%

Government reliance

Government grants $14K · Total revenue $42K

32%

Earned-income share

Program service revenue $28K · Total revenue $42K

66%

Investment reliance

Investment income $0 · Total revenue $42K

Program self-sufficiency

Program service revenue $28K · Total expenses $113K

24%

Growth & trend

Revenue growth (YoY)

This year $42K · Prior year $31K

+36%

Net-asset trend (YoY)

End of year $214K · Beginning of year —

Beginning net assets not meaningfully positive — showing dollar change

Balance sheet

Surplus Margin

Revenue $42K · Expenses $113K

-170%

Liabilities-to-Assets

Total liabilities — · Total assets $817K

—

Net-asset ratio

Net assets $214K · Total assets $817K

26%

Marketable Investment Share

Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $817K

Excludes program-related investments (Pt X, ln 13)

People & payroll

Highest Reported Total Compensation

Individual Adriana Avalo · Reported title DIRECTOR · Highest reported compensation $0 · Total expenses $113K

Personnel share

Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $113K

—

Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

Metric	This org	Peer median	Percentile
Program ratio	70%	—	—
Overhead ratio	30%	—	—
Fundraising cost ratio	0%	—	—
Revenue growth	36%	—	—

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record

Grants received · FY2021

Eastern Bank Charitable FoundationFY2021$1K

Total grants receivedfrom 1 funder$1K

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Filings & Schedule Manifest

Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

FY2021 (Latest)$42K revenue · viewing · ⤓ 990 PDF

FY2020$31K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings

Form 990 e-file (XML) · FY2021IRS

Classification, formation year, addressIRS Business Master File

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