philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Spes Development Corporation

Methuen, MAUnknown exempt organization EIN 81-3137293Revenue $42K in FY2021Latest filing we have: 2021. Newer ones may not be in our data yet. Filed since? Tell us.

On file with the IRSmelitafarms.comMethuen, MA

Claim this org

(tell your story, add context, and more) Claim it free, then get the verified mark for $100 a year.

How does your 990 look to donors? Take the 10-Question Audit

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 elimination or prejudice and discriminaton. The reduction of neighborhood tensions, and combat community tensions. 2. The corporation's programs and activities are designed to improve the living standard of all economicaly, educationally, and socially disadvantaged individuals including members of the minority community, unemployed, underemployed and low-moderate income persons on a national and global level regardless of their race, ethnicity, or religion.

Form 990 Part I, line 1, FY2021. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 81-3137293) · Dispute this line
70¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2021
latest Form 990
The latest return is for FY2021, 5 tax years back.
IRS e-file · Filing history
Surplus or deficit
0 of 2
filings with a surplus
Average deficit $58K a year · 159% of revenue · last 2 filings
A surplus in 0 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
70%
of spending
70% of spending went to programs.
Pt IX · Ln 25 · col B
Cash reserves
1.6 mo
of spending, in cash
1.6 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $1K
1 funder names it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$603K
74% of total assets
Liabilities are 74% of assets.
Pt X · Ln 26
Independent board members
14
of 14 voting members
14 of 14 voting members are independent.
Pt VI · Ln 1a–1b
In line with peersDifferent from peersFar from peersNo peer rangeNo data yetTap a box for the reason.
Revenue
$42K
+36% vs prior year
Spent
$113K
To programs
70%
Net assets
$214K
By yearFY2020–FY2021
Revenue
$42K
FY2021▲ +36%
Tap a bar for its year
Revenue by fiscal year
FY2020$31K
FY2021$42K
Expenses
$113K
FY2021▲ +50%
Tap a bar for its year
Expenses by fiscal year
FY2020$75K
FY2021$113K
Net assets
$214K
FY2021▼ -15%
Tap a bar for its year
Net assets by fiscal year
FY2020$251K
FY2021$214K

From the FY2021 Form 990 · see the original

Visit site Follow Claim

Is it real?

Yes. Exemption reinstated (2019-05-15). Per the IRS revocation list. Latest filing we have: FY2021.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

70 cents of each dollar spent went to programs.

Program services 70% · $79K Management & general 30% · $34K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

14 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Mayra Colon
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Paul Lopez
Director
$0Pt VII · Sec A
See Spes Development Corporation executive salaries →

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 15aNo

Programs and updates

Provides humanitarian aid and education to reduce poverty and discrimination.

Questions for Spes Development Corporation

Tap to ask. Spes Development Corporation sees how many people are interested.

Your first name shows with your question. Spes Development Corporation answers here, for everyone.

1 program · $19K · in their own filed words · FY2021
01

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…

Form 990 Part III, line 4, FY2021. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 81-3137293) · Dispute this line
$19Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2021
Eastern Bank Charitable FoundationFY2021$1K
Total grants receivedfrom 1 funder$1K

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$42K
Ln 12
Fees for servicesLn 2g$28K
Gifts and grantsLn 1h$14K
Money outPt IX
$113K
Ln 25
Programscol B$79K
Managementcol C$34K
Owns and owesPt X
$214K
net assets · Ln 32
Cash and savingsLn 1–2$15K
Total assetsLn 16$817K
LiabilitiesLn 26$603K
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$14K
Government grantsLn 1e$14K
Fees for servicesLn 2g$28K
Total revenueLn 12$42K
Assets in detailPt X, end of year
CashLn 1$15K
Cash and savings togetherLn 1–2$15K
Land, buildings, equipmentLn 10c$802K
Total assetsLn 16$817K
LiabilitiesLn 26$603K
Net assetsLn 32$214K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$14K$15K
Land, buildings, equipmentLn 10c$836K$802K
Total assetsLn 16$851K$817K
LiabilitiesLn 26$600K$603K
Net assetsLn 32$251K$214K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other fees for servicesLn 11g$23K$19K$5K
Office expensesLn 13$318$159$159
OccupancyLn 16$5K$5K
InterestLn 20$7K$7K
Depreciation, depletion and amortizationLn 22$70K$40K$29K
InsuranceLn 23$473$473
Other expenses (24a–d)Ln 24$8K$8K
Total functional expensesLn 25$113K$79K$34K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest ViewingFiled with the IRS Nov 15, 2022 $42K$113K−$71K$214K 990 PDF
FY2020Filed with the IRS Sep 16, 2021 $31K$75K−$44K$251K 990 PDF

Schedules filed Part IV

I · Grants O · Explanations
See the full FY2021 990
Part I · Summary $41,974 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $30,920$14,300
I-9 Program service revenue$27,674
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $30,920$41,974
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $6$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $75,357$113,310
I-18 Total expensesPrior year $75,363$113,310
I-19 Revenue less expensesPrior year −$44,443−$71,336
Part VI · Governance 14 of 14 board members independent, 4 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $41,974 across 5 lines filed
VIII-1a Federated campaigns$700
VIII-1e Government grants$13,600
VIII-1h Total contributions, gifts and grants$14,300
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $27,674$27,674
VIII-12 Total revenueRelated to mission $27,674$41,974
Part IX · Statement of functional expenses $113,310 across 7 lines filed
IX-11g Other fees for servicesPrograms $18,609 · Management $4,575$23,184
IX-13 Office expensesPrograms $159 · Management $159$318
IX-16 OccupancyPrograms $4,803$4,803
IX-20 InterestPrograms $6,767$6,767
IX-22 Depreciation, depletion and amortizationPrograms $40,350 · Management $29,193$69,543
IX-23 InsuranceManagement $473$473
IX-24 Other expenses (24a–d)Programs $8,222$8,222
IX-25 Total functional expensesPrograms $78,910 · Management $34,400 · Fundraising $0$113,310
Part X · Balance sheet $816,991 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $14,174$15,344
X-10c Land, buildings and equipment, netStart of year $836,379$801,647
X-16 Total assetsStart of year $850,553$816,991
X-17 Accounts payable and accrued expensesStart of year $600,000$602,963
X-26 Total liabilitiesStart of year $600,000$602,963
X-31 Retained earnings or endowmentStart of year $250,553$214,028
X-32 Total net assets or fund balancesStart of year $250,553$214,028
X-33 Total liabilities and net assetsStart of year $850,553$816,991
Part XI · Reconciliation of net assets $214,028 net assets at year end
XI-1 Total revenue$41,974
XI-2 Total expenses$113,310
XI-3 Revenue less expenses−$71,336
XI-4 Net assets at start of year$250,553
XI-9 Other changes in net assets$34,811
XI-10 Net assets at end of year$214,028

Form 990 e-file FY2021 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

The names, titles, and financial information shown on this page are reproduced from IRS Form 990 filings, which are public records. More

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown. A filing can only be corrected by the organization filing an amended return with the IRS; the corrected information appears here at our next update.

We publish only information contained in the public IRS filing, and less than the filing contains. Our pages do not display home addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, contact the filing organization or the IRS directly.

All figures come from public IRS Form 990 filings. Comparisons are computed from the filing against similar orgs. They are not a rating.