Aspire Foundation
- Assets
- $59.7m
- Revenue
- $31.3m
- Investments
- $34.6m
- Employees
- 0
- Location
- Clinton, TN
- Founding
- Data as of
- 02/2022
- EIN
- 83-4048199
Organization Overview
Aspire Foundation is located in Clinton, TN. According to its NTEE Classification (N32) the organization is classified as: Parks & Playgrounds, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Aspire Foundation 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 02/2022, Aspire Foundation generated $31.3m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $279.0k during the year ending 02/2022. While expenses have increased by 4.9% per year over the past 3 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE YEAR ENDING 2/28/2022, ASPIRE FOUNDATION CONTINUED CONSTRUCTION OF A PUBLIC PARK AND RECREATIONAL AREA IN ANDERSON COUNTY, TENNESSEE. OVER 16 MILLION HAS BEEN SPENT TO DATE ON THE PROJECT. TRAILS, A PUMP TRACK, A BOAT LAUNCH, THE PARK MONUMENT, THE MAINTENANCE BUILDING, AND THE XCHANGE PAVILLION, AS WELL AS A SIGNIFICANT PORTION OF THE LANDSCAPING WERE LARGELY COMPLETED BY THE END OF THE YEAR. THE ONWARD AND UPWARD CENTER AND THE DOG BARK PARK WERE IN THE EARLY STAGES OF CONSTRUCTION. THE FOUNDATION HOPES TO OPEN THE PARK TO THE PUBLIC BY LATE FALL OF 2023 TO EARLY 2024.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brenda Bice Director | 1 | $0 | |
Mike Wallace Executive Di | 35 | $0 | |
Richard S Matlock Director | 1 | $0 | |
Brenda S Starwalt Director/tre | 5 | $0 | |
Jim Hollingsworth Director | 1 | $0 | |
Amanda Hensley Secretary | 25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,769,291 |
| Interest on Savings | $98 |
| Dividends & Interest | $652,290 |
| Net Rental Income | $975,952 |
| Net Gain on Sale of Assets | $23,872,525 |
| Capital Gain Net Income | $23,872,525 |
| Net ST Capital Gain | $1,007,047 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $31,333,601 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $95 |
| Taxes | $2,040 |
| Depreciation | $64,954 |
| Occupancy | $45,124 |
| Travel, conferences, and meetings | $16,219 |
| Printing and publications | $0 |
| Other expenses | $26,834 |
| Total operating and administrative expenses | $271,035 |
| Contributions, gifts, grants paid | $8,000 |
| Total expenses and disbursements | $279,035 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,490,497 |
| Savings and temporary cash investments | $4,376,392 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $9,325 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $1,774,595 |
| Other assets | $16,434,319 |
| Total assets | $59,669,740 |
| Accounts payable and accrued expenses | $2,977,187 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,977,187 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Aspire Foundation has recieved totaling $10,500.
| Awarding Organization | Amount |
|---|---|
Organization Name not Listed PURPOSE: PROGRAM SUPPORT | | $10,000 |
Valentine Family Foundation Lynchburg, VA PURPOSE: UNRESTRICTED CONTRIBUTION | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Us National Whitewater Center Inc Charlotte, NC | $52,351,525 | $16,921,663 |
21st Century Parks Inc Louisville, KY | $96,568,908 | $4,921,884 |
Lake Ridge Parks & Recreation Association Inc Lake Ridge, VA | $11,873,713 | $7,365,440 |
Lakeshore Park Conservancy Knoxville, TN | $19,542,630 | $6,010,930 |
Shelby Farms Park Conservancy Memphis, TN | $6,955,555 | $6,186,773 |
Park Pride Inc Atlanta, GA | $9,014,464 | $8,316,780 |
Piedmont Park Conservancy Inc Atlanta, GA | $4,575,541 | $3,976,026 |
Friends Of Great Smoky Mountain National Park Inc Kodak, TN | $24,666,709 | $4,762,551 |
Dorothea Dix Park Conservancy Raleigh, NC | $6,442,747 | $1,230,438 |
Gateway Arch Park Foundation St Louis, MO | $74,261,617 | $7,108,944 |
Columbia Memorial Park Inc Arlington, VA | $6,724,392 | $4,421,124 |
Friends Of The Warner Parks Inc Nashville, TN | $7,592,814 | $4,400,427 |