Inspiring Minds
- Assets
- $352.4k
- Revenue
- $481.8k
- Investments
- $0.0
- Employees
- 32
- Location
- Providence, RI
- Founding
- 10/1990
- Data as of
- 06/2021
- EIN
- 05-0310175
Organization Overview
Inspiring Minds is located in Providence, RI. The organization was established in 1990. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2021, Inspiring Minds employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Inspiring Minds 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, Inspiring Minds generated $481.8k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $426.7k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (5.8%) per year over the past 7 years. 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
TO PROVIDE TUTORING, MENTORING AND EDUCATIONAL SERVICES TO STUDENTS WITHIN PROVIDENCE, RI.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MENTORING, TUTORIAL AND EDUCATIONAL SERVICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melissa Emidy Executive Director | Officer | 40 | $80,002 |
Kimberly Bright Chairman | OfficerTrustee | 1 | $0 |
Raman Shah Vice Chair | OfficerTrustee | 1 | $0 |
Jen Linton Secretary | OfficerTrustee | 1 | $0 |
Rothel DE La Cruz Treasurer | OfficerTrustee | 1 | $0 |
Daryl D Wright Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $480,016 |
| Investment income | $315 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $1,500 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $481,831 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $80,002 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $106,561 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,518 |
| Payroll taxes | $19,629 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $38,603 |
| Advertising and promotion | $0 |
| Office expenses | $6,799 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,636 |
| Travel | $535 |
| 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 | $158 |
| Insurance | $16,671 |
| All other expenses | $0 |
| Total functional expenses | $426,745 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $230,200 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $114,098 |
| 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 | $8,080 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $352,378 |
| Accounts payable and accrued expenses | $19,955 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| 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 | $0 |
| Total liabilities | $19,955 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $332,423 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Inspiring Minds has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
The Harry M Miriam C & William C Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Milton Academy Milton, MA | $512,730,465 | $105,004,685 |
Brunswick School Inc Greenwich, CT | $416,319,503 | $63,510,846 |
Buckingham Browne And Nichols School Cambridge, MA | $184,959,090 | $58,711,322 |
Greenwich Academy Inc Greenwich, CT | $313,417,197 | $56,728,095 |
Greens Farms Academy Inc Greens Farms, CT | $154,608,768 | $42,085,410 |
King School Incorporated Stamford, CT | $114,064,346 | $37,308,932 |
Winsor School Inc Boston, MA | $217,305,625 | $31,356,069 |
Fessenden School West Newton, MA | $138,609,682 | $33,180,214 |
Worcester Academy Worcester, MA | $109,627,128 | $31,140,946 |
New Canaan Country School Inc New Canaan, CT | $109,420,608 | $39,886,665 |
Fay School Inc Southborough, MA | $107,158,040 | $28,014,225 |
Park School Corporation Brookline, MA | $111,847,022 | $33,906,318 |