Education
(B20N)
IRS Verified
DX Registered
990 on File
INSPIRING MINDS
Financial strength (30%)
87/100
Reliability (20%)
55/100
Effectiveness (25%)
90/100
Impact (25%)
No data yet
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CharityAI™ Score
Not yet evaluated
Mission Statement
Inspiring Minds, founded in 1963, is a nonprofit education agency dedicated to helping Rhode Island’s underserved students succeed in school and life. Our mission is to empower students to succeed and thrive in school and life by developing trusted relationships with community members who are knowledgeable of the culturally responsive, academic, and socio-emotional needs necessary for student success. We work on our mission through our four programs: In-School Tutoring & Mentoring, workforce development via Explorers, summer learning for rising kindergartners in KidsBridge, and mindfulness education via ResilientKids™.
Financial Overview — FY 2024
N/A
Total Revenue
N/A
Total Expenses
N/A
Net Assets
N/A
Employees
Program Expense Ratio
N/A
Fundraising Efficiency
0.0%
Operating Reserve
N/A
Liability-to-Asset
0.0%
Revenue Diversification
N/A
Compared with Peers
FY 2023
Compared with 21,283 similar organizations
(United States, Education, $100K–$1M in expenses), FY 2023.
This organization
Middle half of peers (P25–P75)
Peer median
| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
70.5% | 88.7% |
P10P90
|
Bottom quarter |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
29.5% | 8.8% |
P10P90
|
Bottom quarter |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
0.0% | 0.0% |
P10P90
|
Top quarter |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
6.4 mo | 9.7 mo |
P10P90
|
Below median |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
13.1% | 0.5% |
P10P90
|
Below median |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
72.2% | 90.2% |
P10P90
|
Above median |
|
Revenue growth
Year over year revenue growth
|
4.7% | 8.6% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
8.7% | 13.1% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
5.5% | 2.3% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2024 | N/A | N/A | N/A | — | — |
| 2023 | $915K | $865K | $461K | 70.5% | 68 |
| 2022 | $874K | $795K | $410K | 70.8% | 66 |
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