Uaspire Inc

Nonprofit profile at a glance

EIN
461314848
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Boston, MA, USA
Phone
8573440770
Rating
84
Verdict
STRONG
Rating confidence
Standard
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$6,168,715
Expenses
$10,299,635
Assets
$16,281,677
Liabilities
$3,806,569

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

27 people listed

Executive titles in this filing

  • JACLYN PINERO (CHIEF EXECUTIVE OFFICER)
  • ANIKA VAN EATON (VICE PRESIDENT OF POLICY)
  • BRENDAN WILLIAMS (VICE PRESIDENT OF KNOWLEDGE)

Highest reported compensation

  • JACLYN PINERO (CHIEF EXECUTIVE OFFICER): $342,227 total reported compensation
  • HOLLY MORROW (CHIEF KNOWLEDGE OFFICER): $241,788 total reported compensation
  • VALERIA WELLS (CHIEF DEVELOPMENT OFFICER): $238,272 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

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

What it reported doing in 2024

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. Uaspire provides postsecondary financial aid advising to 10,000 students in locations across Massachusetts (boston, cambridge, somerville, malden, and fall river) and the san francisco bay area (san francisco, oakland, and hayward) and New York, New York. Uaspire's high school advising program, afford, delivers robust, individualized support in their high schools and over text messaging to apply for financial aid, make financially informed college decisions, and successfully enroll. Uaspire's postsecondary advising program, succeed, supports students to maintain/secure financial aid and manage college costs to persist and ultimately complete their degrees. Uaspire advisors supplement high school counselors and other community-based organizations who depend on uaspire to help with the financial issues related to affrodability, matriculation and persistence to a certificate or degree.

Operating model

Revenue model
Donor-supported. 74% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 99% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 88
  • Accountability: 100
  • Sustainability: 22
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 68.6%; rating input score 69
  • Fundraising efficiency: $4.14 raised per $1 spent on fundraising; rating input score 13; 13th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -67%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 1.58; rating input score 54; 54th percentile among comparable filings
  • Liabilities to assets ratio: 0.23; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 19.9%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 6.3% per year; rating input score 100; 47th percentile among comparable filings
  • Revenue growth: 5.7% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: 21.3% per year; rating input score 100; 86th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 68.6% of spending went to programs
  • Governance: 19 of 19 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $7.1M in reported program spending
  • Leadership: top reported pay $342K · 27 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $536K reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 13/100.
  • High — Sustainability: Operating margin scored 1/100.
  • Review — Sustainability: Total-asset coverage ratio scored 54/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.