Inspiring Minds

EIN: 261429323 501(c)(3) Recreation & Sports

Warren, OH

Total Revenue
$2,759,726
Total Expenses
$1,716,076
Total Assets
$5,261,963
Net Assets
$3,660,432
🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Sign In — Free (10 views/day)

Financial Trends

Organization Details

Formation Year
2007
Legal Domicile
OH
Principal Officer
DERYCK TOLES
Phone
3304696729
Tax Period
2023-01-01 to 2023-12-31

Inspiring Minds, founded in 2007, is a community nonprofit in the Recreation & Sports sector that reported $2.8M in total revenue in fiscal year 2023. Revenue surged 66% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.0M, a strong 38% operating margin.

Mission

TO ENGAGE INSPIRE AND EMPOWER YOUTH TO REACH THEIR FULL POTENTIAL THROUGH EDUCATION AND EXPOSURE TO LIFE CHANGING EXPERIENCES

Program Service Accomplishments

Program 1
Expenses: $1,032,837

After school program to inspire youth to reach their full potential through education and real-life experiences. During the 2022-23 school year, 54 high school students, 40 7-8 graders and 70 3-6...

Read more

After school program to inspire youth to reach their full potential through education and real-life experiences. During the 2022-23 school year, 54 high school students, 40 7-8 graders and 70 3-6 graders benefitted from the program.Students in grades 3-12 participate in out-of-school learning focusing on: Education; College & Career Readiness; Health & Wellness, Personal Development; & Exposure to New Experiences. Space is available on a first-come, first-served basis; however high school students are able to participate from acceptance until graduation or if they choose not to continue.Education support improves academic performance, focuses on STEM concepts, reading & comprehension, entrepreneurship, financial literacy, homework completion & tutoring.College & Career Readiness activities include visits to colleges across the country, assistance with applications & scholarships, ACT/SAT prep & FAFSA completion. IM provides professional development & job training through resume building, mock interviews, proper dress etiquette & industry exploration tours.IM promotes Health & Wellness as youth learn about the benefits of leading a healthy, well-rounded lifestyle through physical fitness, nutrition & personal hygiene. Youth participate in physical activities to reduce obesity & improve self-esteem. Youth also learn about gardening & cooking in our onsite garden and training kitchen.Personal Development activities include service-learning projects to developing skills, attitudes & personal qualities that enable students to effectively navigate their environment, work well with others, perform well & achieve their goals.Exposure to New Experiences is designed to demonstrate to students how their dreams can take them anywhere. IM coordinates trips to provide new, eye-opening experiences that embrace culture, arts, hobbies, & interests to expose students to different ways of life & possibilities so they know what is available to them in the future if they set goals, work hard & persevere.To provide ongoing support to recent high school grads & young adults ages 17-25, IM provides Summer Career Development Program, an immersive workforce learning experience for young adults & to retain talent for the area.At the completion of the 2022-23 school year, all students promoted to the next grade level or graduated.To make certain that students are on track, IM programming includes: monitoring academic performance, offering tutoring/interventions for students struggling in one or more subjects, and taking students on college and college-related visits to ignite excitement for their future.During the 2022-23 school year, 200 hours of tutoring has been provided to 22 HS students in the subjects of English, history, algebra, geometry, pre-calculus, chemistry, physics, and general science. During the after-school program students use ProgressBook, a classroom management solution that integrates grade book, lesson plan development, attendance, special education, and parent communication into one comprehensive, web-based system, to review their GPA, assignments and attendance which is then checked by IM staff. Any student with grades of D or F are flagged to receive tutoring. IM mentors also reinforce with the students the concept of staying on target with academics. IM staff has built a relationship with Warren G. Harding High School and is able to participate in students Individualized Education Program (IEP) meetings along with parents to help make sure that students succeed. IM also encourages parents to participate in parent-teacher conferences.In 2023 our college-going seniors have completed FAFSA, ACT/SAT testing, college applications, and scholarship applications as part of their post-high school preparations. Students have toured Kent State University, Penn State Shenango, and attended an HBCU College Fair in Cleveland and the MPower Men of Color Summit at Kent. Students also went on industry tours to: Toyota of Warren, Liberty Steel, Meijer, Staples, and Youngstown Business Incubator. For fun rewards, students got to go to a Cleveland Cavaliers game, bowling, and a YSU football game.This program was also supported during the year by in kind donations of services including classroom use valued at $20,000; transportation services to bring students to the program each day and back home that is valued at $10,000, and training services valued at $3,000, videography services valued at $5,000, Advertising services valued at $2,500 and organizational development services valued at $2,500.

Program 2
Expenses: $462,984

Summer Enrichment Program (SEP) to provide Warren, Ohio, students with a robust educational experience and an opportunity to participate in sports activities, art exploration, community service...

Read more

Summer Enrichment Program (SEP) to provide Warren, Ohio, students with a robust educational experience and an opportunity to participate in sports activities, art exploration, community service, swimming lessons, STEM disciplines, and literacy workshops. In 2023, 50 9-12 graders, 45 7-8 graders, and 233 3-6 graders.The 2023 SEP offered 328 students a robust educational experience. Elementary students participated in: daily health & fitness instruction, a review of the IM Code, which is a set of guidelines to follow to be successful & productive; swimming lessons; arts, culture & music activities; computer labs; board games; college/career readiness research; movies & bowling; different sports; learned about Black inventors; and had all-site competitions with a & track/race day.High school students took a trip to Charleston, S.C. and visited Savannah State University, The Charleston Museum, and Folly Beach, and met Queen Quet while on a tour of the Gullah Geechee culture, to name a few highlights. The summer included financial literacy, physical fitness, summer learning, and arts. Students also began to learn American Sign Language and every student learned to sign their name.College visits included: Notre Dame College, Baldwin Wallace, University of Akron, University of Pittsburgh, Kent State University Trumbull (Youth Expo), and The Ohio State University.Both HS, 7-8, and 3-6 worked with on-site staff from Duke University learning about Artificial Intelligence (AI) concepts. One of the highlights of the summer was the culmination of entrepreneurial lessons when IM held its 2nd Annual outdoor Youth Summer Market in which students showcased their businesses and sold their foods and products. It was well received by the community and students thoroughly enjoyed learning about financial literacy and how to run a business.This program was also supported during the year by in kind donations of services including classroom use valued at $30,000 and transportation services to bring students to the program each day and back home, as well as, field trips that is valued at $40,000.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Sign In — Free (10 views/day)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,593,348
Program Service Revenue $0
Investment Income $36,651
Other Revenue $129,727
TOTAL REVENUE $2,759,726

Expense Breakdown

Grants Paid $105
Salaries & Benefits $1,018,209
Fundraising Expenses $0
Program Expenses $1,495,821
Other Expenses $697,762
TOTAL EXPENSES $1,716,076

Year-over-Year Comparison

2023 2022 Change
Revenue $2,759,726 $1,663,375 +0.7%
Expenses $1,716,076 $1,389,852 +0.2%
Net Income $1,043,650 $273,523 +2.8%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Sign In

Governance

Voting Members
8
Independent Members
8
Employees
77
Volunteers
60

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
5
$181,445
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DERYCK TOLES CEO 40.00
Officer
$171,886 $9,559 $181,445
PASTOR JOSEPH WALKER President 2.00
Officer Director
$0 $0 $0
TRINETTE SIMON CPA Treasurer 2.00
Officer Director
$0 $0 $0
DEAN NOBLE Secretary 2.00
Officer Director
$0 $0 $0
ALICIA MILLER Vice President 2.00
Officer Director
$0 $0 $0
ANGELA MOSS BOARD MEMBER 2.00
Director
$0 $0 $0
CARLA BALDWIN Board Member 2.00
Director
$0 $0 $0
MEGAN WALKER Board Member 2.00
Director
$0 $0 $0
SHERRI BERCHENI BOARD MEMBER 2.00
Director
$0 $0 $0
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
2024 No data No data No data No data
2023 $2,759,726 $1,716,076 $5,261,963 $1,043,650
2022 $1,663,375 $1,389,852 $3,664,959 $273,523
2021 $1,773,478 $1,244,576 $3,657,119 $528,902
2020 $1,534,001 $965,592 $2,670,841 $568,409
2019 $1,268,467 $1,033,605 $1,448,543 $234,862
2018 $1,486,761 $1,007,492 $1,267,500 $479,269
Explore More Nonprofits
Top 100 Nonprofits in Ohio Largest U.S. Nonprofits Best Rated Nonprofits Most Efficient Nonprofits

Compare Inspiring Minds with other nonprofits in Ohio and across the country.