ASPIRE DEVELOPMENTAL SERVICES INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1951

Legal Domicile

Principal Officer

Lori Russell

Phone

7815932727

Tax Period

2024-07-01 to 2025-06-30

ASPIRE DEVELOPMENTAL SERVICES INC, founded in 1951, is a mid-sized nonprofit in the Diseases & Disorders sector that reported $12.4M in total revenue in fiscal year 2024. Revenue surged 31% from the prior year, signaling strong growth momentum. Expenses of $11.3M left a modest 9% surplus.

Mission

TO PROVIDE SERVICES TO PEOPLE WITH DISABILITIES

Program Service Accomplishments

Program 1

Expenses: $8,592,909 Revenue: $9,913,906

PROVIDES FAMILY CENTERED HOME BASED SERVICES TO FACILITATE THE DEVELOPMENTAL PROGRESS OF CHILDREN. THIS PROGRAM IS AVAILABLE TO ELIGIBLE CHILDREN, BIRTH TO THREE YEARS OF AGE, WHO HAVE OR ARE AT RISK FOR DEVELOPMENTAL DISABILITIES DUE TO ESTABLISHED BIOLOGICAL OR ENVIRONMENTAL FACTORS. THESE SERVICES ARE PROVIDED IN THE CHILDS NATURAL ENVIRONMENT. ADDITIONALLY, ASPIRE EARLY SUPPORT PROVIDES SERVICES AND SUPPORT TO PREGNANT AND POSTPARTUM WOMEN LIVING IN LYNN AND SALEM, MASSACHUSETTS AND THE SURROUNDING COMMUNITIES WHO HAVE SOCIAL AND ENVIRONMENTAL RISK FACTORS. THE GOAL OF THE PROGRAM IS TO REDUCE INFANT MORTALITY BY EARLY INDENTIFICATION OF MATERNAL AND INFANT RISK AND PROVIDING LINKAGES TO SERVICES AND SUPPORT IN THE COMMUNITY TO PREVENT POOR HEALTH AND/OR DEVELOPMENTAL OUTCOMES.

Program 2

Expenses: $1,600,528 Revenue: $1,773,333

FOR THE OPERATION OF A PRESCHOOL FOR CHILDREN BETWEEN TWO YEARS, NINE MONTHS AND FIVE YEARS OF AGE. THE PROGRAM RECEIVES VOUCHER INCOME NINE MONTHS AND FIVE YEARS OF AGE. THE PROGRAM RECEIVES VOUCHER...

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $643,863

Program Service Revenue $11,687,239

Investment Income $54,396

Other Revenue $20,825

TOTAL REVENUE $12,406,323

Expense Breakdown

Grants Paid $0

Salaries & Benefits $9,682,180

Fundraising Expenses $2,299

Program Expenses $10,193,437

Other Expenses $1,568,277

TOTAL EXPENSES $11,250,457

Year-over-Year Comparison

	2024	2023	Change
Revenue	$12,406,323	$9,498,480	+0.3%
Expenses	$11,250,457	$9,929,742	+0.1%
Net Income	$1,155,866	$-431,262	-3.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

143

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$228,062

Total Directors

Key Employees

$588,357

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	EXECUTIVE DIRECTOR	40.00	Officer Key Emp	$221,878	$6,184	$228,062
N/A	PRESIDENT	0.00	Officer Director	$0	$0	$0
N/A	VICE PRESIDENT	0.00	Officer Director	$0	$0	$0
N/A	TREASURER	0.00	Officer Director	$0	$0	$0
N/A	SECRETARY	0.00	Officer Director	$0	$0	$0
N/A	ASSISTANT SECRETARY	0.00	Director	$0	$0	$0
N/A	DIRECTOR	0.00	Director	$0	$0	$0
N/A	DIRECTOR	0.00	Director	$0	$0	$0
N/A	DIRECTOR	0.00	Director	$0	$0	$0
N/A	DIRECTOR	0.00	Director	$0	$0	$0
ELIZABETH QUINN	DIRECTOR	0.00	Director	$0	$0	$0
LEANNE PALMER	DIRECTOR	0.00	Director	$0	$0	$0
KIMBERLY A MCCARTHY	OPERATIONS DIRECTOR	40.00	Key Emp	$179,539	$5,465	$185,004
CHRISTINE E BROWN	PROGRAM DIRECTOR	40.00	Key Emp	$150,979	$24,312	$175,291
KRISTEN EVANS	CLINICAL DIRECTOR	40.00	Highest	$125,228	$2,945	$128,173
GRETCHEN JULIANO	OCCUPATIONAL THERAPIST	40.00	Highest	$110,263	$23,669	$133,932

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$12,406,323	$11,250,457	$8,562,577	$1,155,866
2024	$9,498,480	$9,929,742	$7,897,286	$-431,262
2023	$9,027,991	$9,009,301	$8,209,012	$18,690
2022	$8,951,245	$7,955,333	$8,440,789	$995,912
2021	$8,647,174	$6,786,647	$7,873,247	$1,860,527
2020	$7,261,462	$7,953,668	$7,203,093	$-692,206
2019	$8,222,241	$7,880,248	$6,828,244	$341,993
2018	$7,218,192	$7,071,877	$6,911,476	$146,315