Uaspire Inc
- Assets
- $8.2m
- Revenue
- $8.9m
- Investments
- $0.0
- Employees
- 78
- Location
- Boston, MA
- Founding
- 05/2013
- Data as of
- 06/2021
- EIN
- 46-1314848
Organization Overview
Uaspire Inc is located in Boston, MA. The organization was established in 2013. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2021, Uaspire Inc employed 78 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Uaspire Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Uaspire Inc generated $8.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $7.9m during the year ending 06/2021. While expenses have increased by 3.2% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
UASPIRE WORKS TO REMOVE FINANCIAL BARRIERS TO A POSTSECONDARY DEGREE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WORKING IN COORDINATION WITH GUIDANCE COUNSELORS, UASPIRE PROVIDES IN-SCHOOL COLLEGE FINANCIAL AID ADVISING TO THOUSANDS OF HIGH SCHOOL SENIORS IN BOSTON, CAMBRIDGE, SOMERVILLE, MALDEN, AND FALL RIVER MASSACHUSETTS AND SAN FRANCISCO AND OAKLAND, CALIFORNIA AND NEW YORK, NEW YORK . STUDENTS ALSO RECEIVE ONGOING COUNSELING THROUGH THEIR TRANSITION TO AND THROUGHOUT THE FIRST TWO YEARS OF THEIR POST-SECONDARY EDUCATION TO HELP SUPPORT MATRICULATION AND PERSISTENCE.
UASPIRE PARTNERS WITH SCHOOL DISTRICTS, CHARTER MANAGEMENT ORGANIZATIONS, AND YOUTH SERVING ORGANIZATIONS ACROSS THE COUNTRY TO PROVIDE THEM WITH THE KNOWLEDGE AND TOOLS NECESSARY TO ENSURE THE STUDENTS THEY SERVE ARE ABLE TO FIND AN AFFORDABLE PATH TO AND THROUGH A POST SECONDARY DEGREE PROGRAM.
BY LEVERAGING FINANCIAL AID EXPERTISE, UASPIRE WORKS TO TRANSFORM FINANCIAL AID AND HIGHER EDUCATION SYSTEMS SO THAT THEY HELP RATHER THAN HINDER THE ATTAINMENT OF AN AFFORDABLE COLLEGE DEGREEE.
OTHER PROGRAM SERVICES CONSIST OF SCHOLARSHIP ADMINISTRATION INCLUSIVE OF DIRECT DISTRIBUTIONS TO STUDENTS AS WELL AS PROGRAM QUALITY AND EVALUATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jaclyn Pinero Co-Chief Executive Officer | Officer | 50 | $183,809 |
Laura Keane Chief Policy Officer | Officer | 50 | $179,006 |
Claire Cosenze Co-Chief Executive Officer | Officer | 50 | $163,299 |
Jermaine Myrie Chief External Affairs Off | Officer | 45 | $160,690 |
Heather Jenkins Chief People & Equity Officer | Officer | 40 | $157,387 |
David Dore Chief Financial & Operating Officer | Officer | 40 | $156,483 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,142,357 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,954,691 |
| Noncash contributions included in lines 1a–1f | $15,689 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,097,048 |
| Total Program Service Revenue | $775,986 |
| Investment income | $56,503 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,929,537 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $505,276 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,161,363 |
| Compensation of current officers, directors, key employees. | $180,011 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,818,671 |
| Pension plan accruals and contributions | $210,558 |
| Other employee benefits | $487,374 |
| Payroll taxes | $361,320 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $23,301 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $369,797 |
| Advertising and promotion | $16,188 |
| Office expenses | $20,841 |
| Information technology | $93,431 |
| Royalties | $0 |
| Occupancy | $427,069 |
| Travel | $2,854 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,282 |
| Insurance | $18,911 |
| All other expenses | $21,224 |
| Total functional expenses | $7,860,385 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,799,086 |
| Savings and temporary cash investments | $46,583 |
| Pledges and grants receivable | $769,011 |
| Accounts receivable, net | $321,508 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $117,881 |
| Net Land, buildings, and equipment | $14,272 |
| Investments—publicly traded securities | $5,081,460 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,375 |
| Total assets | $8,161,176 |
| Accounts payable and accrued expenses | $427,022 |
| Grants payable | $0 |
| Deferred revenue | $8,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $41,981 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,240,939 |
| Total liabilities | $1,717,942 |
| Net assets without donor restrictions | $3,585,941 |
| Net assets with donor restrictions | $2,857,293 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $8,161,176 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Uaspire Inc has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Gray Foundation Cohoes, NY PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION. | $25,000 |
Endowment Analysis
| Beg. Balance | $557,909 |
| Earnings | $24,498 |
| Other Expense | $24,498 |
| Ending Balance | $557,909 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Joan And Irwin Jacobs Technion-Cornell Innovation Instit New York, NY | $205,040,861 | $18,316,542 |
Tikvah Fund New York, NY | $103,047,859 | $6,270,985 |
Catholic Schools Foundation Inc Boston, MA | $110,171,239 | $27,305,892 |
Echoing Green Inc New York, NY | $60,744,468 | $19,754,073 |
Partnership For Ed Advancement Inc New York, NY | $36,194,552 | $41,198,488 |
Alavi Foundation New York, NY | $64,468,510 | $30,201,673 |
Uncommon Lender Inc New York, NY | $174,239,408 | $12,168,791 |
Family Enrichment Network Inc Johnson City, NY | $8,020,609 | $12,621,621 |
Laspau Inc Cambridge, MA | $9,172,350 | $9,862,515 |
Vermont Student Development Fund Inc Winooski, VT | $17,468,961 | $10,359,436 |
The Teagle Foundation Incorporated New York, NY | $172,379,349 | $12,655,674 |
Jackie Robinson Foundation Inc New York, NY | $30,161,175 | $8,662,334 |