Aspire Inc

Analysis

Aspire Inc is a registered charity in United States, based in Aberdeen, SD. It received its IRS tax-exemption ruling in May 1989, 37 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 June 2023, Aspire Inc reported income of $10.1m and spending of $9.0m, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $6.1m to $10.1m (+64%), an average of +13% a year. The sharpest change came in the year to June 2021, when income rose by 45%. Over the whole period it spent 88% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Aspire Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within SD. Charities of a similar size with the same main cause include Living Opportunities Inc ($10.1m), Opportunity Works Inc ($10.1m) and Downtown Detroit Partnership Inc ($10.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 16% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $259k (2.9% of expenses). Other salaries and wages came to $5.8m. At year end it held assets of $8.7m against liabilities of $1.5m, net assets of $7.2m. It reported 156 employees.