Aspire Community Capital

Analysis

Aspire Community Capital is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in April 2016, 10 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, Aspire Community Capital reported income of $706k and spending of $654k, spending 93% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $231k to $706k (+205%), an average of +45% a year. The sharpest change came in the year to June 2022, when income rose by 140%. Over the whole period it spent 70% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Aspire Community Capital sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 75th percentile within NC. Charities of a similar size with the same main cause include Benola Inc ($706k), Colaborativopr Inc ($706k) and The Urban Enrichment Institute ($706k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 4.1% of the total. Compensation of current officers, directors and key employees was $96k (15% of expenses). Other salaries and wages came to $129k. At year end it held assets of $840k against liabilities of $166k, net assets of $674k. It reported 3 employees.