The Spero Project Inc
- Assets
- $1.2m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 60
- Location
- Oklahoma City, OK
- Founding
- 05/2009
- Data as of
- 12/2022
- EIN
- 26-4035530
Organization Overview
The Spero Project Inc is located in Oklahoma City, OK. The organization was established in 2009. According to its NTEE Classification (J20) the organization is classified as: Employment Preparation & Procurement, under the broad grouping of Employment and related organizations. As of 12/2022, Spero Project Inc employed 60 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spero Project Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Spero Project Inc generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 30.3% each year . All expenses for the organization totaled $2.8m during the year ending 12/2022. While expenses have increased by 26.6% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SUPPORTIVE SERVICES TO RESETTLED REFUGEES AND ASYLUM SEEKERS IN OKLAHOMA CITY. EDUCATING THE BROADER COMMUNITY ABOUT ISSUES IMPACTING REFUGEES AND ASYLUM SEEKERS. DEVELOP PARTNERSHIPS BETWEEN THE REFUGEE, ASYLUM-SEEKING COMMUNITIES AND ORGANIZATIONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
MORE THAN 370 STUDENTS (PRE-K TO 12TH) ENROLLED IN THE SPERO TRANSITIONAL EDUCATION PROGRAM (STEP) FOR FULL-DAY, EDUCATIONAL PROGRAMMING IN A CULTURALLY RESPONSIVE SETTING FOR STUDENTS LIVING IN TEMPORARY HOUSING. PROGRAMMING FOCUSED ON ENGLISH LANGUAGE ACQUISITION, CULTURAL ORIENTATION, AND SCHOOL READINESS. MORE THAN 250 ADULTS TOOK ENGLISH LANGUAGE LEARNING CLASSES ACROSS 6 CLASSROOM SITES.OVER 200 ADULTS PARTICIPATED IN LIFE SKILLS/EMPLOYMENT SKILL PROGRAMMING INCLUDING SEWING, HEALTH EDUCATION, AND CITIZENSHIP CLASSES. STUDENT SUPPORT PROGRAMS HAD 5 SITES AND IN ADDITION TO INDIVIDUALIZED TUTORING, 102 STUDENTS PARTICIPATING IN AFTERSCHOOL PROGRAMS AND 53 STUDENTS PARTICIPATING IN SUMMER PROGRAMS.MORE THAN 1000 RESETTLED INDIVIDUALS WERE PROVIDED COMMUNITY SUPPORT SUCH AS: SOCIAL SERVICES NAVIGATION ASSISTANCE, ACCESS TO MEDICAL AND DENTAL CARE AND VACCINES, MENTAL HEALTH/ADJUSTMENT SUPPORT GROUPS, TRANSPORTATION ASSISTANCE, AND TRANSLATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brad Bandy Director | Officer | 40 | $80,744 |
Kim Bandy Asst Director | Officer | 40 | $45,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,459,182 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,459,182 |
| Total Program Service Revenue | $0 |
| Investment income | $909 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,460,091 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $56,693 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $125,744 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,409,445 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $116,070 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,680 |
| Fees for services: Accounting | $27,525 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $469,751 |
| Advertising and promotion | $0 |
| Office expenses | $22,270 |
| Information technology | $19,591 |
| Royalties | $0 |
| Occupancy | $78,530 |
| Travel | $3,185 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $256 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,223 |
| Insurance | $13,655 |
| All other expenses | $343,098 |
| Total functional expenses | $2,778,539 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $160,584 |
| Savings and temporary cash investments | $1,000,331 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,624 |
| Net Land, buildings, and equipment | $23,609 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,186,148 |
| Accounts payable and accrued expenses | $10,807 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $10,807 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $1,175,341 |
| Total liabilities and net assets/fund balances | $1,186,148 |
Grants Awarded
Over the last fiscal year, The Spero Project Inc has awarded $15,260 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
REGIONAL FOOD BANK | | | $5,260 |
ODYSSEY LEADERSHIP ACADEMY | | | $10,000 |