Uaspire INC FY2021 filing

Tax-deductible

Boston, MA501(c)(3)Since 2012EducationEIN 46-1314848Revenue $8.9M in FY2021

On file with the IRSuaspire.org6 Liberty Sq, 02109-5800 · Boston, MATax-exempt since May 2013Publicly supported charity — 170(b)(1)(A)(vi)

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Uaspire's mission is to improve the economic mobility of underrepresented students by creating financial solutions to diverse postsecondary pathways.

501(c)(3) charity; gifts are tax-deductible.
65¢ of each $1 spent went to programs.
$1.6M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $1.4M a year · 14% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
65%
of spending
Worth a look: 65% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.6M
to officers and key staff · 20% of spending
Fine: pay to officers and key staff is 20% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Fine: 2.8 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.7M
21% of total assets
Looks good: liabilities are 21% of assets; 50% or less.
Pt X · Ln 26
Independent board members
31
of 31 voting members
Looks good: 31 of 31 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$8.9M
-22% vs prior year
Spent
$7.9M
To programs
65%
Net assets
$6.4M
By yearFY2020–FY2025
Revenue
$8.9M
FY2021▼ -22%
Tap a bar for its year
Revenue by fiscal year
FY2020$11.5M
FY2021$8.9M
FY2022$11.0M
FY2023$12.3M
FY2024$11.1M
FY2025$6.2M
Expenses
$7.9M
FY2021▼ -5%
Tap a bar for its year
Expenses by fiscal year
FY2020$8.3M
FY2021$7.9M
FY2022$7.7M
FY2023$9.1M
FY2024$9.4M
FY2025$10.3M
Net assets
$6.4M
FY2021▲ +24%
Tap a bar for its year
Net assets by fiscal year
FY2020$5.2M
FY2021$6.4M
FY2022$9.3M
FY2023$12.7M
FY2024$16.2M
FY2025$12.5M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 2013.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

65 cents of each dollar spent went to programs.

Program services 65% · $5.1M Management & general 13% · $1.0M Fundraising 23% · $1.8M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

42 people listed on the 990; $1.6M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Co-Chief Executive Officer
$183,809Pt VII · Sec A
Chief Policy Officer
$179,006Pt VII · Sec A
Co-Chief Executive Officer
$163,299Pt VII · Sec A
Chief External Affairs Off
$160,690Pt VII · Sec A
Chief People & Equity Officer
$157,387Pt VII · Sec A
Chief Financial & Operating Officer
$156,483Pt VII · Sec A
Senior VP of Knowledge
$124,489Pt VII · Sec A
$113,321Pt VII · Sec A

Jaclyn Pinero’s $296K as Chief Executive Officer is at the 95th percentile of top reported officer pay among 3395 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Jaclyn Pinero$295,760$218,035$222,804$224,044$183,809$158,600
Valeria Wells$225,665—————
Janeira Forte$218,853$190,757$181,817$162,690——
Holly Morrow$202,492$179,251$172,761$156,498$124,489$125,641
Ayeesha Lane$197,101$170,101$164,730$153,940$110,340—
Robert Giannino—————$189,038
Jermaine Myrie——$185,840$180,623$160,690$152,056
Laura Keane———$155,724$179,006$173,705

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Helps students overcome financial obstacles to earn a college degree.

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Provided by the organization

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3 programs · $4.6M · in their own filed words · FY2020
01

Working in coordination with guidance counselors, uaspire provides in-school college financial aid advising to thousands of high school seniors in boston, cambridge, somerville, malden, and fall river massachusetts and san francisco and oakland, california and new york, new york .

$3.2Mprogram expense
02

Uaspire partners with school districts, charter management organizations, and youth serving organizations across the country to provide them with the knowledge and tools necessary to ensure the students they serve are able to find an affordable path to and through a post secondary degree program.

$826Kprogram expense
03

By leveraging financial aid expertise, uaspire works to transform financial aid and higher education systems so that they help rather than hinder the attainment of an affordable college degreee.

$620Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$5K
Grants paid · 11 grants · $1.5M · 2019–2024
Unitemized GrantFY2024$73,912
Unitemized GrantFY2024$13,917
Unitemized GrantFY2023$48,500
Unitemized GrantFY2023$27,678
Unitemized GrantFY2022$174,725
Unitemized GrantFY2022$126,764
Unitemized GrantFY2021$161,583
Unitemized GrantFY2021$37,950
Unitemized GrantFY2020$370,325
Unitemized GrantFY2020$134,951
Unitemized GrantFY2019$303,450

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$8.9M
Ln 12
Gifts and grantsLn 1h$8.1M
Fees for servicesLn 2g$776K
Investment incomeLn 3$57K
Money outPt IX
$7.9M
Ln 25
Programscol B$5.1M
Managementcol C$1.0M
Fundraisingcol D$1.8M
Owns and owesPt X
$6.4M
net assets · Ln 32
Cash and savingsLn 1–2$1.8M
Total assetsLn 16$8.2M
LiabilitiesLn 26$1.7M
PeoplePt VI, VII
42
listed · VII A
PaidVII A11
Voting boardVI 1a31
IndependentVI 1b31
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$8.1M
Government grantsLn 1e$1.1M
Noncash giftsLn 1g$16K
Fees for servicesLn 2g$776K
Investment incomeLn 3$57K
Total revenueLn 12$8.9M
Assets in detailPt X, end of year
CashLn 1$1.8M
SavingsLn 2$47K
Cash and savings togetherLn 1–2$1.8M
InvestmentsLn 11–13$5.1M
Land, buildings, equipmentLn 10c$14K
Other assetsLn 15$11K
Total assetsLn 16$8.2M
LiabilitiesLn 26$1.7M
Net assetsLn 32$6.4M
OperationsPt I, VI
EmployeesI 588
VolunteersI 619
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$4.9M$1.8M
InvestmentsLn 11–13$823K$5.1M
Land, buildings, equipmentLn 10c$31K$14K
Total assetsLn 16$7.1M$8.2M
LiabilitiesLn 26$1.9M$1.7M
Net assetsLn 32$5.2M$6.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$505K$505K
Pay of current officers, directors and key staffLn 5$1.2M$660K$180K$322K
Other salaries and wagesLn 7$3.8M$2.2M$592K$1.1M
Pension plan contributionsLn 8$211K$211K
Other employee benefitsLn 9$487K$487K
Payroll taxesLn 10$361K$205K$56K$100K
Accounting feesLn 11c$23K$16K$3K$4K
Other fees for servicesLn 11g$370K$259K$40K$70K
Advertising and promotionLn 12$16K$16K
Office expensesLn 13$21K$12K$3K$6K
Information technologyLn 14$93K$60K$12K$21K
OccupancyLn 16$427K$241K$67K$119K
TravelLn 17$3K$3K
Depreciation, depletion and amortizationLn 22$16K$16K
InsuranceLn 23$19K$19K
Other expenses (24a–d)Ln 24$306K$215K$29K$63K
All other expensesLn 24e$21K$7K$3K$12K
Total functional expensesLn 25$7.9M$5.1M$1.0M$1.8M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $6.2M$10.3M−$4.1M$12.5M 990 PDF
FY2024 $11.1M$9.4M$1.7M$16.2M 990 PDF
FY2023 $12.3M$9.1M$3.2M$12.7M 990 PDF
FY2022 $11.0M$7.7M$3.3M$9.3M 990 PDF
FY2021 Viewing $8.9M$7.9M$1.1M$6.4M 990 PDF
FY2020 $11.5M$8.3M$3.2M$5.2M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $8,929,537 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $10,950,535$8,097,048
I-9 Program service revenuePrior year $486,660$775,986
I-10 Investment incomePrior year $40,774$56,503
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $11,477,969$8,929,537
I-13 Grants and similar amounts paidPrior year $303,450$505,276
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $6,321,718$6,039,286
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,632,611$1,315,823
I-18 Total expensesPrior year $8,257,779$7,860,385
I-19 Revenue less expensesPrior year $3,220,190$1,069,152
Part VI · Governance 31 of 31 board members independent, no flags
VI-1a Voting members of the governing body31
VI-1b Independent voting members31
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $8,929,537 across 7 lines filed
Lines not itemized here account for $41,100 of total revenue; see the IRS return.
VIII-1e Government grants$1,142,357
VIII-1f All other contributions, gifts and grants$6,954,691
VIII-1g Noncash contributions (included above)$15,689
VIII-1h Total contributions, gifts and grants$8,097,048
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $734,886$734,886
VIII-3 Investment incomeExcluded from tax $56,503$56,503
VIII-12 Total revenueRelated to mission $775,986 · Unrelated business $0 · Excluded from tax $56,503$8,929,537
Part IX · Statement of functional expenses $7,860,385 across 17 lines filed
IX-2 Grants to domestic individualsPrograms $505,276$505,276
IX-5 Pay of current officers, directors and key staffPrograms $659,655 · Management $180,011 · Fundraising $321,697$1,161,363
IX-7 Other salaries and wagesPrograms $2,170,401 · Management $591,750 · Fundraising $1,056,520$3,818,671
IX-8 Pension plan contributionsPrograms $210,558$210,558
IX-9 Other employee benefitsPrograms $487,374$487,374
IX-10 Payroll taxesPrograms $205,331 · Management $55,994 · Fundraising $99,995$361,320
IX-11c Accounting feesPrograms $16,350 · Management $2,540 · Fundraising $4,411$23,301
IX-11g Other fees for servicesPrograms $259,472 · Management $40,313 · Fundraising $70,012$369,797
IX-12 Advertising and promotionPrograms $16,188$16,188
IX-13 Office expensesPrograms $11,843 · Management $3,230 · Fundraising $5,768$20,841
IX-14 Information technologyPrograms $60,003 · Management $11,999 · Fundraising $21,429$93,431
IX-16 OccupancyPrograms $240,968 · Management $66,803 · Fundraising $119,298$427,069
IX-17 TravelPrograms $2,854$2,854
IX-22 Depreciation, depletion and amortizationManagement $16,282$16,282
IX-23 InsurancePrograms $18,911$18,911
IX-24 Other expenses (24a–d)Programs $214,706 · Management $28,616 · Fundraising $62,603$305,925
IX-24e All other expensesPrograms $6,900 · Management $2,715 · Fundraising $11,609$21,224
IX-25 Total functional expensesPrograms $5,086,790 · Management $1,000,253 · Fundraising $1,773,342$7,860,385
Part X · Balance sheet $8,161,176 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $4,846,751$1,799,086
X-2 Savings and temporary cash investmentsStart of year $69,734$46,583
X-3 Pledges and grants receivableStart of year $1,089,412$769,011
X-4 Accounts receivableStart of year $157,562$321,508
X-9 Prepaid expenses and deferred chargesStart of year $41,384$117,881
X-10c Land, buildings and equipment, netStart of year $30,554$14,272
X-11 Publicly traded securitiesStart of year $823,243$5,081,460
X-15 Other assetsStart of year $29,395$11,375
X-16 Total assetsStart of year $7,088,035$8,161,176
X-17 Accounts payable and accrued expensesStart of year $388,976$427,022
X-19 Deferred revenue$8,000
X-25 Other liabilitiesStart of year $1,310,654$1,240,939
X-26 Total liabilitiesStart of year $1,877,027$1,717,942
X-27 Net assets without donor restrictionsStart of year $1,478,177$3,585,941
X-28 Net assets with donor restrictionsStart of year $3,732,831$2,857,293
X-32 Total net assets or fund balancesStart of year $5,211,008$6,443,234
X-33 Total liabilities and net assetsStart of year $7,088,035$8,161,176
Part XI · Reconciliation of net assets $6,443,234 net assets at year end
XI-1 Total revenue$8,929,537
XI-2 Total expenses$7,860,385
XI-3 Revenue less expenses$1,069,152
XI-4 Net assets at start of year$5,211,008
XI-5 Net unrealized gains (losses) on investments$166,623
XI-6 Donated services and use of facilities$74,649
XI-7 Investment expenses−$3,549
XI-9 Other changes in net assets−$74,649
XI-10 Net assets at end of year$6,443,234

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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