Aspire Academy (EIN 831122214) - Form 990 Financial Analysis & Trantor Score

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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

2019

Legal Domicile

Principal Officer

MOHAMED ADAM

Phone

9522950401

Tax Period

2024-01-01 to 2024-06-30

Aspire Academy, founded in 2019, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $2.8M in total revenue in fiscal year 2024. Revenue surged 160% from the prior year, signaling strong growth momentum.

Mission

ASPIRE IS A COMMUNITY-BASED SCHOOL COMMITTED TO EMPOWER AND EDUCATE ALL STUDENTS TO ATTAIN HIGH ACADEMIC PERFORMANCE WHILE ELIMINATING THE ACHIEVEMENT GAP BY DELIVERING AN ENGAGING STEM CURRICULUM AND MEET THE INDIVIDUAL

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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 $2,820,071

Program Service Revenue $0

Investment Income $0

Other Revenue $3,253

TOTAL REVENUE $2,823,324

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,316,369

Fundraising Expenses $0

Program Expenses $2,810,374

Other Expenses $728,786

TOTAL EXPENSES $3,045,155

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,823,324	$1,086,796	+1.6%
Expenses	$3,045,155	$903,618	+2.4%
Net Income	$-221,831	$183,178	-2.2%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MK Adam MK	Executive Director	040.00	Officer Director	$0	$0	$0
Mustaf Mohamed	Board Chair	002.00	Director	$0	$0	$0
Abdukadir Sheikh Abdi	Vice Chair / Community Member	002.00	Director	$0	$0	$0
Sahra Bashir	Treasurer	002.00	Officer Director	$0	$0	$0
Hussein Haybe	Board Member	002.00	Director	$0	$0	$0
Osman Mohamed	Teacher / Community Member	040.00	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
2025	No data	No data	No data	No data
2024	$2,823,324	$3,045,155	$2,800,152	$-221,831
2023	$1,086,796	$903,618	$275,194	$183,178

Aspire Academy