Overview
What is Friends Of Spero Academy Ii?
Friends of Spero Academy II is a nonprofit organization established with the purpose of supporting Spero Academy, a Minnesota-based public charter school. Their main mission is to procure, own, construct, or lease a suitable school building for Spero Academy to utilize. This endeavor aims to provide an adequate educational environment for the students attending the charter school. The organization's activities are centered around this primary exempt purpose, contributing to the educational community in Minnesota.
Official website here: www.spero.academy
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Star rating (Needs Improvement, 69% score)
Friends Of Spero Academy II has received a two-star rating from Charity Navigator, indicating a need for improvement in their operational practices. The organization has strong performance in areas such as having a fully independent board and a high program expense ratio, which suggests a significant focus on their mission-related activities. However, the overall score reflects concerns regarding financial oversight and governance policies.
While the nonprofit has achieved a perfect score for its audit and oversight committee and has no reported issues with material diversion of assets, it lacks essential policies such as a conflict of interest policy, whistleblower policy, and document retention guidelines. Additionally, the organization has not made its tax form available on its website, which raises transparency concerns.
The liabilities to assets ratio is notably high at 109.10%, indicating that the organization may have more liabilities than assets, which could pose financial risks. Overall, while Friends Of Spero Academy II demonstrates commitment to its programs, there are critical areas in governance and financial management that require attention to improve its standing and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Friends Of Spero Academy Ii legitimate?
Friends Of Spero Academy Ii is a legitimate nonprofit organization registered as a 501(c)(3) entity. Friends Of Spero Academy Ii submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.spero.academy
What is the mission statement of Friends Of Spero Academy Ii?
The organization, Friends of Spero Academy II, has a primary objective to support Spero Academy, a Minnesota public charter school. They aim to accomplish this by either purchasing, constructing, or leasing a public schoolhouse for the school's use. The main purpose of Friends of Spero Academy II is to provide a suitable facility for Spero Academy, thereby contributing to the education of its students. This endeavor underscores their commitment to supporting the educational needs of the community. The organization's activities are focused on securing a suitable learning environment for Spero Academy, enhancing the educational experience for its students.
Official website here: www.spero.academy
What is the revenue of Friends Of Spero Academy Ii?
Friends Of Spero Academy Ii's revenue in 2024 was $1,607,935.
Official website here: www.spero.academy
Who are the executives of Friends Of Spero Academy Ii and what are their salaries?
There 3 volunteers at Friends Of Spero Academy Ii.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.spero.academy
Where can I find the form 990 for Friends Of Spero Academy Ii?
Friends Of Spero Academy Ii's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.spero.academy
Learn more at the official website: www.spero.academy
Mission Statement of Friends Of Spero Academy Ii
Friends of Spero Academy II is an organization with a mission to support Spero Academy, a Minnesota public charter school. Specifically, Friends of Spero Academy II aims to purchase, own, construct, or lease a public schoolhouse on real estate that can be leased to Spero Academy. The primary objective of this organization is to provide a suitable facility for the educational institution, thereby contributing to its growth and success. By fulfilling this purpose, Friends of Spero Academy II plays a significant role in supporting the educational needs of the students enrolled in Spero Academy.
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Impact
October, 2024
Friends Of Spero Academy II significantly enhances educational opportunities by providing a dedicated facility for Spero Academy, a public charter school in Minneapolis, MN. By purchasing, constructing, and leasing a schoolhouse, this organization ensures that Spero Academy has a stable and conducive environment for learning. This support directly contributes to the quality of education offered, allowing students to thrive. The focus on infrastructure not only strengthens the school's resources but also fosters a sense of community and collaboration, ultimately impacting the educational landscape in the area. Through its commitment, Friends Of Spero Academy II plays a vital role in shaping the future of its students and supporting their academic journey.
This information is meant to be a general summary of Friends Of Spero Academy Ii. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $140,281
- Program Service Revenue: $1,467,654
- Gross Receipts: $1,607,935
Assets and Liabilities:
- Total Assets: $31,950,836
- Total Liabilities: $33,403,918
- Net Assets: -$1,453,082
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,467,654
Organization Details
Founding Year
2020
Principal Officer
Tony Farah
Website
www.spero.academyNTEE Category
Code: B11 - Education
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