Aspiring Scholars

Analysis

Aspiring Scholars is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in March 1946, 80 years ago. 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, Aspiring Scholars reported income of $749k and spending of $326k, leaving 56% of income unspent that year. Across the 3 years on record, from June 2021 to June 2023, income grew from $427k to $749k (+75%), an average of +32% a year. The sharpest change came in the year to June 2023, when income rose by 34%. Over the whole period it spent 47% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Aspiring Scholars sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 74th percentile within LA. Charities of a similar size with the same main cause include The Alternative Programs Inc ($749k), Angel Island Immigration Station Foundation ($749k) and People Food & Land Foundation ($749k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $943k against liabilities of $15k, net assets of $928k.