Inspiring Minds

Analysis

Inspiring Minds is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in October 1990, 36 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Inspiring Minds reported income of $915k and spending of $865k, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $306k to $915k (+199%), an average of +32% a year. The sharpest change came in the year to June 2022, when income rose by 81%. Over the whole period it spent 88% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Inspiring Minds sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 74th percentile within RI. Charities of a similar size with the same main cause include Quixote Foundation ($915k), The Literacy Center ($915k) and W B Collins Early Learning Project ($915k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 72% and program service revenue 26% of the total. Other salaries and wages came to $378k. At year end it held assets of $530k against liabilities of $70k, net assets of $461k. It reported 68 employees.