Austin Aspires Inc
- Assets
- $704.4k
- Revenue
- $808.9k
- Investments
- $0.0
- Employees
- 35
- Location
- Austin, MN
- Founding
- 10/2014
- Data as of
- 12/2023
- EIN
- 46-5424422
Organization Overview
Austin Aspires Inc is located in Austin, MN. The organization was established in 2014. According to its NTEE Classification (S03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Austin Aspires Inc employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Austin Aspires Inc 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 12/2023, Austin Aspires Inc generated $808.9k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $820.2k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
AUSTIN ASPIRES INC STRIVES TO DEVELOP A WORLD-CLASS, UNIQUE CITY-WIDE LEARNING CAMPUS LINKING TOGETHER THE ARTS, EDUCATION, SCIENCE AND BUSINESS COMMUNITIES. THIS ENVIRONMENT WILL EMPHASIZE PROGRAMS IN SCIENCE AND TECHNOLOGY, COLLEGE-READINESS, ALTERNATIVE LEARNING AND REAL-LIFE APPLICATION TO PREPARE STUDENTS FOR THE WORK FORCE AND/OR HIGHER EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AUSTIN ASPIRES WILL BRING TOGETHER COMMUNITY RESOURCES AND FAMILIES TO CHALLENGE ALL LEARNERS TO SEEK EXCELLENCE AND EQUIP THEM TO ACHIEVE RESULTS THROUGH SHARED COMMUNITY VISION, EVIDENCE-BASED DECISION MAKING, COLLABORATIVE ACTION, AND INVESTMENT AND SUSTAINABILITY. DURING THE 2022-2023 SCHOOL YEAR, STAFF IN OUR ASPIRES LEADERS OF TOMORROW (ALOT) PROGRAM, WORKED INTENTIONALLY WITH MORE THAN 500 STUDENTS IN GRADES 5-12. OVER 90% OF THESE SCHOLARS WERE STUDENTS OF COLOR AND 83% COME FROM FAMILIES LIVING IN POVERTY. 70 OF THE STUDENTS WE WORKED WITH DURING THE 2022-2023 SCHOOL YEAR WERE SENIORS. 64 OF THE 70 (91%) GRADUATED HIGH SCHOOL, EXCEEDING THE 75.5% GRADUATION RATE FOR THE DISTRICT.
IN EXCESS OF 400 FAMILIES WITH CHILDREN PRENATAL THROUGH AGE 5 RECEIVED SUPPORT THROUGH OUR WEE ASPIREE PROGRAM. IN THIS PROGRAM, FAMILIES ARE CONNECTED TO NEEDED RESOURCES TO ENSURE THEIR CHILD GETS THE BEST EARLY LEARNING EXPERIENCE POSSIBLE. THIS INCLUDES CONNECTION TO CHILDCARE, PRESCHOOL, BASIC NEEDS RESOURCES AND MORE. SOME OF THESE CONNECTIONS HAPPENED THROUGH A RELATIONSHIP WITH MAYO CLINIC HEALTH SYSTEM, IN WHICH OUR EARLY CHILDHOOD NAVIGATOR WORKS COLLABORATIVELY WITH THE MAYO STAFF TO PROVIDE WRAP AROUND SUPPORT TO FAMILIES. THIS MODEL IS NOW BEING SHARED BY MAYO MEDICAL STAFF AT NATIONAL CONFERENCES AS A MODEL TO MEET COMMUNITY NEEDS.
DURING THE 2022-2023 ACADEMIC SCHOOL YEAR, 788 TUTORING WAS PROVIDED TO STUDENTS IN GRADES K-12 AT NO COST TO THE CHILD OR FAMILY. QUALIFIED TUTORS PROVIDED SUPPORT TO THESE SCHOLARS IN PUBLIC SPACES INCLUDING THE YMCA, LIBRARY, THE CHILD'S SCHOOL AND THE ASPIRES' OFFICE. FAMILIES REPORTED THAT THEY SEEN AN INCREASE IN THEIR CHILDREN'S GRADES, COMPLETED WORK TURNED IN, AND ATTITUDE TOWARDS SCHOOL AFTER THEIR CHILD BEGAN WORKING WITH A TUTOR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shelley King President | OfficerTrustee | 3 | $0 |
Thad Kusick Vice President | OfficerTrustee | 2 | $0 |
Sheri Dankert Treasurer | OfficerTrustee | 2 | $0 |
Varinh Van Vugt Secretary | OfficerTrustee | 2 | $0 |
Jill Andrews Director | Trustee | 2 | $0 |
Jennifer Goins Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $98,000 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $345,044 |
| All other contributions, gifts, grants, and similar amounts not included above | $350,452 |
| Noncash contributions included in lines 1a–1f | $82,591 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $793,496 |
| Total Program Service Revenue | $0 |
| Investment income | $11,853 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $808,850 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $115,069 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $367,329 |
| Pension plan accruals and contributions | $1,685 |
| Other employee benefits | $0 |
| Payroll taxes | $55,979 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $26,056 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $134,555 |
| Advertising and promotion | $9,497 |
| Office expenses | $13,926 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,857 |
| Travel | $8,324 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,123 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,436 |
| Insurance | $2,519 |
| All other expenses | $25 |
| Total functional expenses | $820,235 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,644 |
| Savings and temporary cash investments | $407,879 |
| Pledges and grants receivable | $182,394 |
| Accounts receivable, net | $0 |
| 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 | $4,365 |
| Net Land, buildings, and equipment | $76,108 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $704,390 |
| Accounts payable and accrued expenses | $22,184 |
| 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 | $22,184 |
| Net assets without donor restrictions | $532,525 |
| Net assets with donor restrictions | $149,681 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $704,390 |