Spencer Foundation: $81.5M Revenue, $35.1M Program Expenses

Spencer Foundation earns a C on the efficiency rubric — the median bucket on the LakeQuality scale, indicating performance close to the national midpoint across program spending, executive compensation, and financial reserves. Composite score: 63/100.

Spencer Foundation reported $81.5M in 2024 revenue — a mid-sized nonprofit by U.S. standards. Organizations in this bracket typically operate with a small permanent staff, project-based program structures, and modest reserves. Program-spending efficiency is strong: 80% of total expenses flow to program activities, above the 75% benchmark most third-party charity raters use.

Revenue has grown meaningfully across the five-year filing history — a sign of expanding donor base, new grants, or scaling programs. Spencer Foundation reported $81.5M in 2024, up notably from the start of the window. CEO compensation is reported as zero in the filing — typical for nonprofits where the chief executive is paid through a related entity (parent system, university, or foundation) rather than the filing organization itself, or for small organizations whose chief is a volunteer or board member. In the Education category, Spencer Foundation sits alongside universities, K-12 systems, scholarship funds, and education-research organizations. Education-sector nonprofits often hold large endowments, which affects how the reserves-and-revenue ratios should be read.