Civic Intelligence

Aspire Academy

EIN 83-1122214 • 501(c)3 • Shakopee, MN

Pub. 78 EligibleNTEE T50

Profile

Aspire is a community-based school committed to empower and educate all students to attain high academic performance while eliminating the achievement gap by delivering an engaging stem curriculum and meet the individual

1210 Shakopee Town SquareShakopee, MN 55379

aspireacademyschools.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

99th percentile

1.15x

Higher debt load relative to assets than 99% of similar nonprofits.

NTEE T • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

97th percentile

1.14x

Higher debt load relative to revenue than 97% of similar nonprofits.

NTEE T • $1M-$5M nonprofits • Source year 2024

Net Margin

33rd percentile

-7.9%

Higher net margin than 33% of similar nonprofits.

NTEE T • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

NTEE T • $1M-$5M nonprofits • Source year 2024

Asset Growth

98th percentile

918%

Faster asset growth than 98% of similar nonprofits.

NTEE T • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

81st percentile

160%

Faster revenue growth than 81% of similar nonprofits.

NTEE T • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets99th percentile

Assets

Up

$2,800,152

Up $2,524,958 (+918%) from 2023

Liabilities

Up

$3,225,354

Up $3,143,930 (+3861%) from 2023

Net Assets

Down

-$425,202

Down $618,972 (-319%) from 2023

Operations
Liabilities / Revenue97th percentileNet Margin33rd percentile

Revenue

Up

$2,823,324

Up $1,736,528 (+160%) from 2023

Expenses

Up

$3,045,155

Up $2,141,537 (+237%) from 2023

Net Income

Down

-$221,831

Down $405,009 (-221%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth98th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MAssets 2023: $275,194Liabilities 2023: $81,424Net Assets 2023: $193,7702023Assets 2024: $2,800,152Liabilities 2024: $3,225,354Net Assets 2024: -$425,2022024

Highlighted filing

2024

Assets$2,800,152
Liabilities$3,225,354
Net Assets-$425,202
Open 2024 Filing

Operations Trend

Revenue Growth81st percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2023: $1,086,796Expenses 2023: $903,618Net Income 2023: $183,1782023Revenue 2024: $2,823,324Expenses 2024: $3,045,155Net Income 2024: -$221,8312024

Highlighted filing

2024

Revenue$2,823,324
Expenses$3,045,155
Net Income-$221,831
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,800,152
Liabilities
$3,225,354
Net assets
-$425,202
Revenue
$2,823,324
Expenses
$3,045,155
Net income
-$221,831
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.80$3.23$0.43$2.82$3.05$0.22
2023Detailed filing. Detailed filing data is available for this year.$0.28$0.08$0.19$1.09$0.90$0.18
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Jun 30, 2024
Signed
Feb 27, 2025
Return Version
2024v5.0
Gross Receipts
$2,823,324
Mission and Program Overview

Mission

Aspire is a community-based school committed to empower and educate all students to attain high academic performance while eliminating the achievement gap by delivering an engaging stem curriculum and meet the individual

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$52,546$297,454▲ $244,908
Cash and Non-Interest-Bearing Accounts$222,648$159,032▼ $63,616
Land, Buildings, and Equipment, Net-$7,332-
Rtn Earn Endowment Incm Other Fnds$193,770$-425,202▼ $618,972
Total Assets$275,194$2,800,152▲ $2,524,958
Other Assets Total-$2,336,334-
Liabilities
Other Liabilities-$2,982,518-
Accounts Payable and Accrued Expenses$81,424$242,836▲ $161,412
Total Liabilities$81,424$3,225,354▲ $3,143,930
Net Assets / Fund Balance
Total Net Assets Fund Balance$193,770$-425,202▼ $618,972
Total Liabilities and Net Assets / Fund Balance$275,194$2,800,152▲ $2,524,958

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$1,058,854$1,058,854
Equipment$7,332$7,622$14,954
Other Assets Org$635,202--
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Mustaf MohamedBoard Chair
Abdukadir Sheikh AbdiVice Chair / Community Member
Hussein HaybeBoard Member
MK Adam MKExecutive Director
Osman MohamedTeacher / Community Member
Sahra BashirTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,820,071
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$3,253
Change in Net Assets
$-221,831

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,823,324
Total Revenue per Audited Statements
$2,823,324
Total Revenue per Form 990
$2,823,324
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,316,369
Other Expenses$728,786
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,932,653$214,739-$2,147,392
Other Employee Benefits$152,079$16,898-$168,977
Other Expenses$18,903$2,067-$20,970
Information Technology$9,692$1,077-$10,769
Insurance$9,145--$9,145
Total Functional Expenses$2,810,374$234,781$0$3,045,155

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,045,155
Total Expenses per Audited Statements$3,045,155
Total Expenses per Form 990$3,045,155
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
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Net Pension Liability$1,911,581
Federal income taxes$742,766
Lease Liability$328,171
Deferred Inflows - Pension Payments-
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
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
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, Line 11B

“Organizations process to review form 990 is reviewed by the Academys Executive Director who is authorized by the board of directors to approve its submission”

Form 990, Part VI, Line 19

“Governing documents are available on request”

Filing and Contact Details

Filer

Filer Name
Aspire Academy
EIN
83-1122214
Phone
9522950401
Address
1210 Shakopee Town Square, Shakopee, MN 55379

Signing Officer

Name
Mohamed Adam
Title
Executive Director
Phone
9522950401
Signed
2025-02-27
Discuss with paid preparer
No

Organization Details

Principal Officer
Mohamed Adam
Formed
2019
Legal Domicile
Mn
Voting Board Members
6
Independent Board Members
6
Employees
33

Preparer

Firm
Thomas & Co CPA Pa
Address
9710 STIRLING RD STE 101, COOPER CITY, FL 33024
Preparer
Roby J Thomas
Phone
9544357272
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 6

“Various duties”

Raw XML Appendix365 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Governing documents are available on request
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part I, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19
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IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0275194
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IRS990/TravelGrp/TotalAmt00
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0MOHAMED ADAM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09522950401
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-02-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Aspire Academy
ReturnHeader/Filer/BusinessNameControlTxt0ASPI
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0THOMAS & CO CPA PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt09710 STIRLING RD STE 101
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0COOPER CITY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd033024
ReturnHeader/PreparerPersonGrp/PhoneNum09544357272
ReturnHeader/PreparerPersonGrp/PreparationDt02025-02-27
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROBY J THOMAS
ReturnHeader/ReturnTs02025-02-27T04:21:16-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02024

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