Aspiration

Analysis

Aspiration is a registered charity in United States, based in San Francisco, CA. It received its IRS tax-exemption ruling in August 2018, 8 years ago. Its declared purposes cover community improvement and capacity building, 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 December 2023, Aspiration reported income of $9.3m and spending of $7.8m, spending 84% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.8m to $9.3m (+411%), an average of +50% a year. The sharpest change came in the year to December 2022, when income rose by 109%. 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, Aspiration sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within CA. Charities of a similar size with the same main cause include Southwest Mississippi Planning and Development District Inc ($9.3m), The Columbus Partnership ($9.4m) and North Lawndale Employment Network ($9.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 74% and program service revenue 25% of the total. Compensation of current officers, directors and key employees was $360k (4.6% of expenses). Other salaries and wages came to $721k. At year end it held assets of $6.5m against liabilities of $697k, net assets of $5.8m. It reported 7 employees.