Civic Intelligence

Uaspire Inc.

990 • Fiscal year 2020 • EIN 46-1314848

Jul 01, 2019 to Jun 30, 2020 • Filed on May 03, 2021

31 Milk Street No 900Boston, MA 02109

(617) 778-7195

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

54th percentile

0.26x

Higher debt load relative to assets than 54% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

34th percentile

0.16x

Higher debt load relative to revenue than 34% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

82nd percentile

28%

Higher net margin than 82% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

58th percentile

$196,843

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 1.7% of source-year revenue.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

96th percentile

109%

Faster asset growth than 96% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

81st percentile

25%

Faster revenue growth than 81% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Assets

Up

$7,088,035

Up $3,699,931 (+109%) from 2019

Net Assets

Up

$5,211,008

Up $3,203,184 (+160%) from 2019

Liabilities

Up

$1,877,027

Up $496,747 (+36%) from 2019

Revenue

Up

$11,477,969

Up $2,274,325 (+25%) from 2019

Expenses

Down

$8,257,779

Down $175,312 (-2.1%) from 2019

Net Income

Up

$3,220,190

Up $2,449,637 (+318%) from 2019

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$20M$15M$10M$5.0M$0Assets 2014: $1,465,670Liabilities 2014: $288,879Net Assets 2014: $1,176,7912014Assets 2015: $1,442,025Liabilities 2015: $247,684Net Assets 2015: $1,194,3412015Assets 2016: $2,454,648Liabilities 2016: $428,330Net Assets 2016: $2,026,3182016Assets 2017: $3,161,625Liabilities 2017: $574,794Net Assets 2017: $2,586,8312017Assets 2018: $2,207,791Liabilities 2018: $962,531Net Assets 2018: $1,245,2602018Assets 2019: $3,388,104Liabilities 2019: $1,380,280Net Assets 2019: $2,007,8242019Assets 2020: $7,088,035Liabilities 2020: $1,877,027Net Assets 2020: $5,211,0082020Assets 2021: $8,161,176Liabilities 2021: $1,717,942Net Assets 2021: $6,443,2342021Assets 2022: $9,973,087Liabilities 2022: $717,706Net Assets 2022: $9,255,3812022Assets 2023: $13,772,012Liabilities 2023: $1,087,280Net Assets 2023: $12,684,7322023Assets 2024: $17,046,751Liabilities 2024: $806,122Net Assets 2024: $16,240,6292024

Highlighted filing

2020

Assets$7,088,035
Liabilities$1,877,027
Net Assets$5,211,008

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MRevenue 2014: $3,503,261Expenses 2014: $2,334,246Net Income 2014: $1,169,0152014Revenue 2015: $5,378,107Expenses 2015: $5,345,327Net Income 2015: $32,7802015Revenue 2016: $7,386,728Expenses 2016: $6,514,840Net Income 2016: $871,8882016Revenue 2017: $7,963,712Expenses 2017: $7,428,968Net Income 2017: $534,7442017Revenue 2018: $7,115,847Expenses 2018: $8,472,569Net Income 2018: -$1,356,7222018Revenue 2019: $9,203,644Expenses 2019: $8,433,091Net Income 2019: $770,5532019Revenue 2020: $11,477,969Expenses 2020: $8,257,779Net Income 2020: $3,220,1902020Revenue 2021: $8,929,537Expenses 2021: $7,860,385Net Income 2021: $1,069,1522021Revenue 2022: $11,001,635Expenses 2022: $7,683,195Net Income 2022: $3,318,4402022Revenue 2023: $12,347,124Expenses 2023: $9,116,787Net Income 2023: $3,230,3372023Revenue 2024: $11,091,810Expenses 2024: $9,433,373Net Income 2024: $1,658,4372024

Highlighted filing

2020

Revenue$11,477,969
Expenses$8,257,779
Net Income$3,220,190
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 3, 2021
Return Version
2019v5.2
Gross Receipts
$11,477,969
Mission and Program Overview

Mission

Uaspire works to ensure that all young people have the financial information and resources necessary to find an affordable path to - and through - a postsecondary education.

Uaspire works to remove financial barriers to a postsecondary degree.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$626,911$4,846,751▲ $4,219,840
Pledges and Grants Receivable$1,303,544$1,089,412▼ $214,132
Investments in Publicly Traded Securities$667,001$823,243▲ $156,242
Accounts Receivable$480,818$157,562▼ $323,256
Savings and Temporary Cash Investments$173,866$69,734▼ $104,132
Prepaid Expenses and Deferred Charges$73,539$41,384▼ $32,155
Land, Buildings, and Equipment, Net$49,250$30,554▼ $18,696
Total Assets$3,388,104$7,088,035▲ $3,699,931
Other Assets Total$13,175$29,395▲ $16,220
Liabilities
Other Liabilities$982,297$1,310,654▲ $328,357
Accounts Payable and Accrued Expenses$310,315$388,976▲ $78,661
Escrow Account Liability$66,388$177,397▲ $111,009
Deferred Revenue$21,280--
Total Liabilities$1,380,280$1,877,027▲ $496,747
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,933,525$3,732,831▲ $1,799,306
Net Assets Without Donor Restrictions$74,299$1,478,177▲ $1,403,878
Total Net Assets Fund Balance$2,007,824$5,211,008▲ $3,203,184
Total Liabilities and Net Assets / Fund Balance$3,388,104$7,088,035▲ $3,699,931

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$20,529$42,942$63,471
Leasehold Improvements$10,025$18,004$28,029

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$557,909-▲ $19,648$19,648$557,909
2018$605,033-▲ $41,395$88,519$557,909
2017$601,556-▲ $47,124$43,647$605,033
2016$562,294-▲ $43,647$4,385$601,556
2015$607,931-▲ $4,385$50,022$562,294
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Robert GianninoChief Executive OfficerFT$189,038$7,805$196,843
Jaclyn PineroChief Regional OfficerFT$158,600$24,196$182,796
Laura KeaneChief Policy OfficerFT$173,705$8,685$182,390
David DoreChief Finance & OperationsFT$157,303$23,221$180,524
Heather JenkinsChief of Staff & EquityFT$158,000$22,347$180,347
Claire CosenzeChief Program OfficerFT$145,287$20,914$166,201
Jermaine MyrieChief External Affairs OffFT$152,056$6,321$158,377
Holly MorrowSenior VP of KnowledgeFT$125,641$20,729$146,370
Sage RuthSenior Vice President of Finance & OpsFT$112,229$20,322$132,551
Sarah LassondeSenior Director of Foundation RelationsFT$110,313$6,745$117,058
Leah McleanSenior Director, Development Ops and StrategyFT$104,417$10,330$114,747

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$10,950,535
Program Service Revenue
$486,660
Investment Income
$40,774
Other Revenue
$0
All Other Contributions
$10,950,535
Change in Net Assets
$3,220,190

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded5$30,557Fair Market Value
Total Noncash Contributions5$30,557-

Audited Revenue Reconciliation

Revenue per Audited Statements
$11,472,745
Revenue Not Reported on Financial Statements
$5,224
Revenue Not Reported on Form 990
$271,203
Total Revenue per Audited Statements
$11,743,948
Total Revenue per Form 990
$11,477,969
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$6,321,718
Total Fundraising Expense$2,155,240
Other Expenses$1,632,611
Grants and Similar Amounts Paid$303,450
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,565,471$415,921$1,215,495$4,196,887
Current Officers, Directors, Trustees, and Key Employees$615,893$99,793$292,322$1,008,008
Other Employee Benefits$296,084$53,967$157,787$507,838
Occupancy$307,595$49,863$145,786$503,244
Payroll Taxes$244,444$39,625$115,855$399,924
Grants to Domestic Individuals$303,450--$303,450
Fees for Services Other$230,220$32,283$14,296$276,799
Pension Plan Contributions$121,889$22,217$64,955$209,061
Information Technology$152,749$9,056$26,477$188,282
Travel$101,445-$35,218$136,663
Insurance$51,994$11,102-$63,096
Office Expenses$25,852$5,919$1,100$32,871
All Other Expenses$626$5,413$18,947$24,986
Fees for Services Accounting$19,379$2,717$1,204$23,300
Depreciation Depletion-$18,696-$18,696
Other Expenses$11,217$1,818$5,317$18,352
Advertising$9,914-$1,750$11,664
Total Functional Expenses$5,314,062$788,477$2,155,240$8,257,779

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$8,540,764
Expenses per Audited Statements$8,257,779
Total Expenses per Form 990$8,257,779
Expenses Not Reported on Form 990$282,985
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Paycheck Protection Program Loan$1,142,357
Deferred Rent$150,864
Other Liabilities$17,433
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 4

During the year ended june 30, 2020, the organization amended and restated its by-laws.

Form 990, Part VI, Section B, Line 11B

The form 990 is reviewed by the chief financial and operating officer and chief executive officer prior to filing. In addition, it is reviewed by at least one member of the board of directors, who is also a member of the finance committee.

Form 990, Part VI, Section B, Line 12C

The existence of any issues that could give rise to conflicts is reviewed periodically by the chief financial and operating officer and the chief executive officer to ascertain whether any director, board member or employee might conceivably have an interest which could give rise to a conflict. All members of the organization are aware of the conflict of interest policy and are required to discuss with the chief executive officer or directly with the board, should they feel there are any conflicts as defined by the policy.

Form 990, Part VI, Section B, Line 15A

The organization engaged the services of an independent compensation consulting firm to perform a study of executive compensation based on comparable organizations and similar sized companies, with an emphasis on the chief executive officer. The chief executive officer's salary was within the range suggested by the consulting firm and was approved by the personnel committee of the organization, which reported its conclusion and process to the entire board of directors. There have been subsequent annual adjustments to the chief executive officer's compensation that have been established by the board of directors. The chief executive officer does not participate in this process.

Form 990, Part VI, Section C, Line 18

Upon request, the organization will make available to the public its governing documents, and its conflict of interest policy.

Form 990, Part VI, Section C, Line 19

The financial statements of the organization are attached to the form pc filed with the massachusetts division of public charities and are available for public inspection on the attorney general's website. The organization's governing documents and conflict of interest policies are not posted to such website, but are available for inspection by the public upon request.

Filing and Contact Details

Filer

Filer Name
Uaspire Inc
EIN
46-1314848
Phone
6177787195
Address
31 MILK STREET NO 900, BOSTON, MA 02109

Signing Officer

Name
Jaclyn Pinero
Title
Chief Executive Officer
Phone
6177787195
Signed
2021-05-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jaclyn Pinero
Formed
2012
Legal Domicile
Ma
Voting Board Members
35
Independent Board Members
35
Employees
95
Volunteers
29

Preparer

Firm
Samet & Company Pc
Address
1330 BOYLSTON STREET, CHESTNUT HILL, MA 02467-2111
Preparer
Paul Ford CPA
Phone
6177311222
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Donated services and use of facilities (expense) -282,985.

FORM 990, PART XII, LINE 2C:

There has not been a change in this process from the prior tax year.

Financial Statement Notes

PART IV, LINE 2B:

The organization received grants on behalf of various organizations. The ending balance represents funds not yet distributed.

PART V, LINE 4:

The permanent endowment consists of investment accounts. The board of directors intend to preserve the fair value of the original gift as explicitly stipulated by the donor.

PART X, LINE 2:

The financial accounting standards board ("fasb") has issued a standard that clarifies the accounting and recognition of income tax positions taken or expected to be taken in the organization's income tax returns. The organization has analyzed tax positions taken for filing with the internal revenue service and all state jurisdictions where it operates. The organization believes that income tax positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse effect on the organization's financial condition, results of operations or cash flows. Accordingly, the organization has not recorded any reserves or related accruals for interest and penalties for uncertain income tax positions. If the organization incurs interest or penalties as a result of unrecognized tax positions the policy is to classify interest accrued with interest expense and penalties thereon with operating expenses. The organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The organization's federal and state income tax returns are generally open for examination for the past three years.

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IRS990/ActivityOrMissionDesc0UASPIRE WORKS TO REMOVE FINANCIAL BARRIERS TO A POSTSECONDARY DEGREE.
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IRS990/Desc0WORKING 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.
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IRS990/Form990PartVIISectionAGrp/PersonNm0MARY JO MEISNER
IRS990/Form990PartVIISectionAGrp/PersonNm1EJ LANDRY
IRS990/Form990PartVIISectionAGrp/PersonNm2BILL MCCLEMENTS
IRS990/Form990PartVIISectionAGrp/PersonNm3HO NAM PRESENT
IRS990/Form990PartVIISectionAGrp/PersonNm4SCOTT ALDSWORTH
IRS990/Form990PartVIISectionAGrp/PersonNm5CYNTHIA RIVERA WEISSBLUM
IRS990/Form990PartVIISectionAGrp/PersonNm6PETER NOVEMBER
IRS990/Form990PartVIISectionAGrp/PersonNm7BOB SHIREMAN
IRS990/Form990PartVIISectionAGrp/PersonNm8JOEL STEINHAUS
IRS990/Form990PartVIISectionAGrp/PersonNm9MICHAEL BOYLE
IRS990/Form990PartVIISectionAGrp/PersonNm10LUIS ECHEVERRI
IRS990/Form990PartVIISectionAGrp/PersonNm11AMIT PATEL
IRS990/Form990PartVIISectionAGrp/PersonNm12PATRICIA BELLINGER
IRS990/Form990PartVIISectionAGrp/PersonNm13ALI EL ABBOUD
IRS990/Form990PartVIISectionAGrp/PersonNm14NADINE DUPLESSY KEARNS
IRS990/Form990PartVIISectionAGrp/PersonNm15MARK ALPER
IRS990/Form990PartVIISectionAGrp/PersonNm16SYDNEY ATKINS
IRS990/Form990PartVIISectionAGrp/PersonNm17MAY BUMAR
IRS990/Form990PartVIISectionAGrp/PersonNm18JONATHAN COX
IRS990/Form990PartVIISectionAGrp/PersonNm19VAL GONCALVES
IRS990/Form990PartVIISectionAGrp/PersonNm20DAVID HADDEN
IRS990/Form990PartVIISectionAGrp/PersonNm21SIMONE HILL
IRS990/Form990PartVIISectionAGrp/PersonNm22JOHN HUDSON
IRS990/Form990PartVIISectionAGrp/PersonNm23JOIE JAGER HYMAN
IRS990/Form990PartVIISectionAGrp/PersonNm24KERRY ANN JAMESS
IRS990/Form990PartVIISectionAGrp/PersonNm25JOHN LEHNER
IRS990/Form990PartVIISectionAGrp/PersonNm26BILL MANDELL
IRS990/Form990PartVIISectionAGrp/PersonNm27JANE NELSON
IRS990/Form990PartVIISectionAGrp/PersonNm28BOB O'SULLIVAN
IRS990/Form990PartVIISectionAGrp/PersonNm29SHARAM PAVRI
IRS990/Form990PartVIISectionAGrp/PersonNm30KATE SCHOX
IRS990/Form990PartVIISectionAGrp/PersonNm31CHARLES SHIRLEY
IRS990/Form990PartVIISectionAGrp/PersonNm32JENN STREDLER
IRS990/Form990PartVIISectionAGrp/PersonNm33BRUCE THOMPSON
IRS990/Form990PartVIISectionAGrp/PersonNm34LAURIE THOMSEN
IRS990/Form990PartVIISectionAGrp/PersonNm35ROBERT GIANNINO
IRS990/Form990PartVIISectionAGrp/PersonNm36DAVID DORE
IRS990/Form990PartVIISectionAGrp/PersonNm37JACLYN PINERO
IRS990/Form990PartVIISectionAGrp/PersonNm38LAURA KEANE
IRS990/Form990PartVIISectionAGrp/PersonNm39JERMAINE MYRIE
IRS990/Form990PartVIISectionAGrp/PersonNm40HEATHER JENKINS
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IRS990/Form990PartVIISectionAGrp/PersonNm45LEAH MCLEAN
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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt27DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt28DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt29DIRECTOR

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