Inspiring Minds

Analysis

Inspiring Minds is a registered charity in United States, based in Warren, OH. It received its IRS tax-exemption ruling in February 2011, 15 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Inspiring Minds reported income of $2.8m and spending of $1.7m, leaving 38% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.3m to $2.8m (+118%), an average of +21% a year. The sharpest change came in the year to December 2023, when income rose by 66%. Over the whole period it spent 71% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Inspiring Minds sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within OH. Charities of a similar size with the same main cause include Jackson Hole Ski Club ($2.8m), The Exceptional Foundation ($2.8m) and Jaeb Center Research Trust Inc ($2.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% of the total. Compensation of current officers, directors and key employees was $181k (11% of expenses). Other salaries and wages came to $738k. At year end it held assets of $5.3m against liabilities of $1.6m, net assets of $3.7m. It reported 77 employees.