Aspire Foundation
- Assets
- $69.4m
- Revenue
- $3.4m
- Investments
- $39.9m
- Employees
- 0
- Location
- Clinton, TN
- Founding
- Data as of
- 02/2023
- EIN
- 83-4048199
Organization Overview
Aspire Foundation is located in Clinton, TN. According to its NTEE Classification (N32) the organization is classified as: Parks & Playgrounds, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Aspire Foundation 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 02/2023, Aspire Foundation generated $3.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (39.8%) each year. All expenses for the organization totaled $849.8k during the year ending 02/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE YEAR ENDING 2/28/2023, ASPIRE FOUNDATION CONTINUED CONSTRUCTION OF A PUBLIC PARK AND RECREATIONAL AREA IN ANDERSON COUNTY, TENNESSEE. OVER 25 MILLION HAS BEEN SPENT TO DATE ON THE PROJECT. TRAILS, A PUMP TRACK, A BOAT LAUNCH, THE PARK MONUMENT, THE MAINTENANCE BUILDING, AND THE XCHANGE PAVILLION, AS WELL AS A SIGNIFICANT PORTION OF THE LANDSCAPING WERE LARGELY COMPLETED BY THE END OF THE YEAR. THE ONWARD AND UPWARD CENTER AND THE DOG BARK PARK WERE IN THE EARLY STAGES OF CONSTRUCTION. THE FOUNDATION HOPES TO OPEN THE PARK TO THE PUBLIC BY LATE SPRING OR EARLY SUMMER OF 2024.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph A Hollingsworth Jr President | 20 | $0 | |
Amanda Fritts Secretary | 25 | $0 | |
Mike Wallace Executive Di | 35 | $0 | |
Lauren Nicole Hollingsworth Director | 1 | $0 | |
Robert Baird Director | 1 | $0 | |
Richard S Matlock Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $918,928 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,643,628 |
| Net Rental Income | $230,871 |
| Net Gain on Sale of Assets | $616,936 |
| Capital Gain Net Income | $616,936 |
| Net ST Capital Gain | $701,560 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $3,413,609 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $95,166 |
| Pension plans, employee benefits | $7,155 |
| Interest | $9,668 |
| Taxes | $391,312 |
| Depreciation | $14,846 |
| Occupancy | $9,583 |
| Travel, conferences, and meetings | $17,944 |
| Printing and publications | $0 |
| Other expenses | $84,991 |
| Total operating and administrative expenses | $849,772 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $849,772 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $869,300 |
| Savings and temporary cash investments | $144,063 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $2,737,997 |
| Other assets | $25,742,707 |
| Total assets | $69,430,621 |
| Accounts payable and accrued expenses | $10,131,606 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $42,625 |
| Total liabilities | $10,174,231 |