Civic Intelligence

Aspire Academy

990 • Fiscal year 2023 • EIN 83-1122214

Jan 01, 2023 to Dec 31, 2023 • Filed on Dec 04, 2024

Organization Profileaspireacademyschools.org
1210 Shakopee Town SquareShakopee, MN 55379

(952) 295-0401

Siviq Scores

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

Liabilities / Assets

95th percentile

0.30x

Higher debt load relative to assets than 95% of similar nonprofits.

2023 filings • NTEE T • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

87th percentile

0.07x

Higher debt load relative to revenue than 87% of similar nonprofits.

2023 filings • NTEE T • $1M-$5M nonprofits • Source year 2023

Net Margin

64th percentile

17%

Higher net margin than 64% of similar nonprofits.

2023 filings • NTEE T • $1M-$5M nonprofits • Source year 2023

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.

2023 filings • NTEE T • $1M-$5M nonprofits • Source year 2023

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Balance Sheet
Liabilities / Assets95th percentile

Assets

$275,194

No earlier filing loaded for comparison.

Net Assets

$193,770

No earlier filing loaded for comparison.

Liabilities

$81,424

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin64th percentile

Revenue

$1,086,796

No earlier filing loaded for comparison.

Expenses

$903,618

No earlier filing loaded for comparison.

Net Income

$183,178

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$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

2023

Assets$275,194
Liabilities$81,424
Net Assets$193,770
Open 2023 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this 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

2023

Revenue$1,086,796
Expenses$903,618
Net Income$183,178
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Dec 4, 2024
Return Version
2023v5.1
Gross Receipts
$1,086,796
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

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 individua

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$64,433$222,648▲ $158,215
Accounts Receivable-$52,546-
Total Assets$65,976$275,194▲ $209,218
Other Assets Total$1,543--
Liabilities
Accounts Payable and Accrued Expenses$133,386$81,424▼ $51,962
Total Liabilities$133,386$81,424▼ $51,962
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-67,410$193,770▲ $261,180
Total Net Assets Fund Balance$-67,410$193,770▲ $261,180
Total Liabilities and Net Assets / Fund Balance$65,976$275,194▲ $209,218

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$1,058,854$1,058,854
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
$1,085,480
Program Service Revenue
$0
Investment Income
$866
Other Revenue
$450
All Other Contributions
$2,760
Change in Net Assets
$183,178

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,086,796
Total Revenue per Audited Statements
$1,086,796
Total Revenue per Form 990
$1,086,796
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$504,786
Other Expenses$398,832
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$454,307$50,479-$504,786
Other Expenses$145,000$16,111-$161,111
Occupancy$68,212$7,579-$75,791
Travel$44,339$4,927-$49,266
Office Expenses$26,598$2,955-$29,553
All Other Expenses$9,559$1,062-$10,621
Insurance$1,648$183-$1,831
Total Functional Expenses$817,323$86,295$0$903,618

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$903,618
Total Expenses per Audited Statements$903,618
Total Expenses per Form 990$903,618
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
Federal income taxes-
Deferred Revenue-
Other Liabilities-
Deferred Tax Liability-
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
2024-12-04
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 & Company 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”

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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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IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0https://aspireacademyschools.org/
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0MOHAMED ADAM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09522950401
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-12-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Aspire Academy
ReturnHeader/Filer/BusinessNameControlTxt0ASPI
ReturnHeader/Filer/EIN0831122214
ReturnHeader/Filer/PhoneNum09522950401
ReturnHeader/Filer/USAddress/AddressLine1Txt01210 Shakopee Town Square
ReturnHeader/Filer/USAddress/CityNm0Shakopee
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055379
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0753125446
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0THOMAS & COMPANY 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/PreparationDt02024-12-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROBY J THOMAS
ReturnHeader/ReturnTs02024-12-04T02:15:43-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$275,194
Liabilities
$81,424
Net assets
$193,770
Revenue
$1,086,796
Expenses
$903,618
Net income
$183,178
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