Inspiring Minds

Analysis

Inspiring Minds is a registered charity in United States, based in Bismarck, ND. It received its IRS tax-exemption ruling in December 2019, 7 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 December 2023, Inspiring Minds reported income of $400k and spending of $391k, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $237k to $400k (+68%), an average of +14% a year. The sharpest change came in the year to December 2021, when income rose by 24%. Over the whole period it spent 99% 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 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 62nd percentile within ND. Charities of a similar size with the same main cause include Riverside County Office of Education Foundation ($400k), Penfeld Village Nursery School ($400k) and University of Leadership and Ministry Inc ($399k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 8.4% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $72k (18% of expenses). Other salaries and wages came to $218k. At year end it held assets of $31k against liabilities of $8,341, net assets of $22k. It reported 21 employees.