Uaspire INC FY2023 filing

Tax-deductible

Boston, MA501(c)(3)Since 2012EducationEIN 46-1314848Revenue $12.3M in FY2023

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.
61¢ of each $1 spent went to programs.
$1.7M 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

FY2023 · 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
61%
of spending
Worth a look: 61% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.7M
to officers and key staff · 18% of spending
Fine: pay to officers and key staff is 18% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.1 months of spending in cash; 3 or more.
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
$1.1M
8% of total assets
Looks good: liabilities are 8% of assets; 50% or less.
Pt X · Ln 26
Independent board members
25
of 25 voting members
Looks good: 25 of 25 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$12.3M
+12% vs prior year
Spent
$9.1M
To programs
61%
Net assets
$12.7M
By yearFY2020–FY2025
Revenue
$12.3M
FY2023▲ +12%
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
$9.1M
FY2023▲ +19%
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
$12.7M
FY2023▲ +37%
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 FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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

61 cents of each dollar spent went to programs.

Program services 61% · $5.5M Management & general 18% · $1.6M Fundraising 21% · $1.9M

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

37 people listed on the 990; $1.7M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Chief Executive Officer
$222,804Pt VII · Sec A
Chief External Affairs Officer
$185,840Pt VII · Sec A
Chief Impact Officer
$181,817Pt VII · Sec A
Chief Knowledge Officer
$172,761Pt VII · Sec A
Chief Financial & Operating Officer
$168,853Pt VII · Sec A
Chief People and Operations Officer
$164,730Pt VII · Sec A
Senior VP of Finance & Operations
$117,903Pt VII · Sec A
VP of External Engagement
$116,666Pt 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 · $5.3M · in their own filed words · FY2022
01

Uaspire guides students, families, and communities to navigate complex financial aid systems in pursuit of equitable access to affordable postsecondary pathways through in-person and virtual advising.

$3.1Mprogram expense
02

Uaspire trains school counselors and program staff to support the students they work with through the financial aid process. Tailored to staff's experience and state context, our online and in-person courses offer best-in-class instruction, action planning, and tools to use with students and families.

$1.4Mprogram expense
03

By leveraging our own and our students' financial aid expertise, uaspire advocates for institutional, state, and federal policy change to transform financial aid and higher education systems.

$724Kprogram 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 FY2023 990, line by line.

1The main four
Money inPt VIII
$12.3M
Ln 12
Gifts and grantsLn 1h$11.0M
Fees for servicesLn 2g$1.1M
Investment incomeLn 3$133K
Money outPt IX
$9.1M
Ln 25
Programscol B$5.5M
Managementcol C$1.6M
Fundraisingcol D$1.9M
Owns and owesPt X
$12.7M
net assets · Ln 32
Cash and savingsLn 1–2$3.1M
Total assetsLn 16$13.8M
LiabilitiesLn 26$1.1M
PeoplePt VI, VII
37
listed · VII A
PaidVII A11
Voting boardVI 1a25
IndependentVI 1b25
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$11.0M
Noncash giftsLn 1g$121K
Fees for servicesLn 2g$1.1M
Investment incomeLn 3$133K
Other incomeLn 4–11$87K
Gains on assetsLn 7−$57K
Total revenueLn 12$12.3M
Assets in detailPt X, end of year
CashLn 1$3.1M
SavingsLn 2$83K
Cash and savings togetherLn 1–2$3.1M
InvestmentsLn 11–13$6.2M
Land, buildings, equipmentLn 10c$1K
Other assetsLn 15$173K
Total assetsLn 16$13.8M
LiabilitiesLn 26$1.1M
Net assetsLn 32$12.7M
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 FY23End FY23
Cash and savingsLn 1–2$4.0M$3.1M
InvestmentsLn 11–13$4.9M$6.2M
Land, buildings, equipmentLn 10c$7K$1K
Total assetsLn 16$10.0M$13.8M
LiabilitiesLn 26$718K$1.1M
Net assetsLn 32$9.3M$12.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$301K$301K
Pay of current officers, directors and key staffLn 5$1.2M$733K$195K$285K
Other salaries and wagesLn 7$4.7M$2.8M$750K$1.1M
Pension plan contributionsLn 8$184K$111K$29K$43K
Other employee benefitsLn 9$578K$350K$93K$136K
Payroll taxesLn 10$426K$257K$68K$100K
Accounting feesLn 11c$32K$32K
Investment management feesLn 11f$43K$43K
Other fees for servicesLn 11g$532K$200K$290K$43K
Advertising and promotionLn 12$33K$26K$7K
Office expensesLn 13$99K$55K$16K$28K
Information technologyLn 14$210K$176K$9K$24K
OccupancyLn 16$394K$239K$63K$92K
TravelLn 17$113K$80K$19K$13K
Conferences, conventions and meetingsLn 19$47K$34K$8K$6K
Depreciation, depletion and amortizationLn 22$6K$3K$886$1K
InsuranceLn 23$14K$8K$2K$3K
Other expenses (24a–d)Ln 24$220K$121K$31K$68K
Total functional expensesLn 25$9.1M$5.5M$1.6M$1.9M

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 Viewing $12.3M$9.1M$3.2M$12.7M 990 PDF
FY2022 $11.0M$7.7M$3.3M$9.3M 990 PDF
FY2021 $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 FY2023 990 (6 parts)
Part I · Summary $12,347,124 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $9,327,389$11,024,591
I-9 Program service revenuePrior year $1,435,971$1,101,816
I-10 Investment incomePrior year $238,275$133,498
I-11 Other revenuePrior year $0$87,219
I-12 Total revenuePrior year $11,001,635$12,347,124
I-13 Grants and similar amounts paidPrior year $199,534$301,489
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $5,994,246$7,074,058
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,489,415$1,741,240
I-18 Total expensesPrior year $7,683,195$9,116,787
I-19 Revenue less expensesPrior year $3,318,440$3,230,337
Part VI · Governance 25 of 25 board members independent, no flags
VI-1a Voting members of the governing body25
VI-1b Independent voting members25
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 $12,347,124 across 8 lines filed
VIII-1f All other contributions, gifts and grants$11,024,591
VIII-1g Noncash contributions (included above)$120,692
VIII-1h Total contributions, gifts and grants$11,024,591
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,101,816$1,101,816
VIII-3 Investment incomeExcluded from tax $190,831$190,831
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$57,333−$57,333
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $87,219$87,219
VIII-12 Total revenueRelated to mission $1,189,035 · Unrelated business $0 · Excluded from tax $133,498$12,347,124
Part IX · Statement of functional expenses $9,116,787 across 18 lines filed
IX-2 Grants to domestic individualsPrograms $301,489$301,489
IX-5 Pay of current officers, directors and key staffPrograms $733,267 · Management $194,535 · Fundraising $285,011$1,212,813
IX-7 Other salaries and wagesPrograms $2,825,721 · Management $749,578 · Fundraising $1,098,266$4,673,565
IX-8 Pension plan contributionsPrograms $111,096 · Management $29,473 · Fundraising $43,181$183,750
IX-9 Other employee benefitsPrograms $349,679 · Management $92,757 · Fundraising $135,908$578,344
IX-10 Payroll taxesPrograms $257,316 · Management $68,259 · Fundraising $100,011$425,586
IX-11c Accounting feesManagement $32,500$32,500
IX-11f Investment management feesManagement $42,561$42,561
IX-11g Other fees for servicesPrograms $199,568 · Management $289,586 · Fundraising $42,709$531,863
IX-12 Advertising and promotionPrograms $26,141 · Fundraising $6,535$32,676
IX-13 Office expensesPrograms $54,995 · Management $16,034 · Fundraising $27,787$98,816
IX-14 Information technologyPrograms $176,382 · Management $9,136 · Fundraising $24,028$209,546
IX-16 OccupancyPrograms $238,618 · Management $63,243 · Fundraising $92,468$394,329
IX-17 TravelPrograms $79,934 · Management $19,480 · Fundraising $13,212$112,626
IX-19 Conferences, conventions and meetingsPrograms $33,670 · Management $8,207 · Fundraising $5,565$47,442
IX-22 Depreciation, depletion and amortizationPrograms $3,341 · Management $886 · Fundraising $1,298$5,525
IX-23 InsurancePrograms $8,247 · Management $2,188 · Fundraising $3,206$13,641
IX-24 Other expenses (24a–d)Programs $120,727 · Management $31,310 · Fundraising $67,678$219,715
IX-25 Total functional expensesPrograms $5,520,191 · Management $1,649,733 · Fundraising $1,946,863$9,116,787
Part X · Balance sheet $13,772,012 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $3,910,392$3,063,990
X-2 Savings and temporary cash investmentsStart of year $45,454$83,175
X-3 Pledges and grants receivableStart of year $692,892$3,874,252
X-4 Accounts receivableStart of year $271,494$244,609
X-9 Prepaid expenses and deferred chargesStart of year $108,318$136,325
X-10c Land, buildings and equipment, netStart of year $6,723$1,198
X-11 Publicly traded securitiesStart of year $4,928,114$6,195,608
X-15 Other assetsStart of year $9,700$172,855
X-16 Total assetsStart of year $9,973,087$13,772,012
X-17 Accounts payable and accrued expensesStart of year $544,214$802,167
X-25 Other liabilitiesStart of year $171,892$285,113
X-26 Total liabilitiesStart of year $717,706$1,087,280
X-27 Net assets without donor restrictionsStart of year $5,401,139$7,525,070
X-28 Net assets with donor restrictionsStart of year $3,854,242$5,159,662
X-32 Total net assets or fund balancesStart of year $9,255,381$12,684,732
X-33 Total liabilities and net assetsStart of year $9,973,087$13,772,012
Part XI · Reconciliation of net assets $12,684,732 net assets at year end
XI-1 Total revenue$12,347,124
XI-2 Total expenses$9,116,787
XI-3 Revenue less expenses$3,230,337
XI-4 Net assets at start of year$9,255,381
XI-5 Net unrealized gains (losses) on investments$199,014
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$12,684,732

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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