What if the secret to saving a mission wasn't a merger but building something big enough to protect it?
In this episode, Ryan Dewey Smith shares how frustration with traditional merger models led him to incorporate Inperium on January 12, 2016, from a firehouse office in Reading, Pennsylvania. What started as a bold experiment in nonprofit consolidation has since grown into a constellation of 34 companies across 20 states, approaching $1 billion in annualized revenue and serving roughly 300,000 people a month. Inperium operates as a behind-the-scenes parent organization providing capital, HR, IT, finance, and general administrative services at scale, driving costs down so that affiliated organizations can invest more into the people they serve.
Ryan honors Jay Depper, his Chief Development Officer and the man whose early belief in the model set the trajectory for Inperium's first five years. Met through a broker just nine months after incorporation, Jay came in as a potential affiliate CEO and stayed as a partner. Their relationship survived a three-year disconnection following a post-COVID disagreement, was restored over four days in Ryan's home, and has since produced four new deals in a single year.
[00:03:46] What Inperium Does and Who It Serves
Aggregator and orchestrator of behavioral health and human service organizations across four primary service areas
Currently 34 companies across 20 states serving roughly 300,000 people a month
Behind-the-scenes parent providing capital, HR, IT, finance, and G&A at scale so affiliated organizations can invest more into the people they serve
[00:05:34] How Ryan Got Into This Work
Started his first company in 1993 in the intellectual and developmental disability space and grew it for nearly two and a half decades to $65M in revenue
Hit a crossroads where rising costs were outpacing their ability to serve their population
Explored traditional mergers and acquisitions in 2014 and 2015; found every option reduced autonomy and stripped organizations of community standing
Created Inperium as an alternative: scale the back office, protect the mission, keep the culture
[00:08:11] Incorporated January 12, 2016
Organizations keep their own boards, cultures, leadership, assets, contracts, and community standing
Philanthropic dollars stay with the organizations rather than being absorbed by a parent
Just over 10 years later: nearly $1 billion in revenues, 34 companies, 20 states
[00:09:04] What Inspires Ryan Most
Every new partner added to the constellation drives costs down for existing partners and brings new subject matter expertise, geography, and service acumen
Serves populations that are in most cases underserved with limited alternatives
Calls it "impact squared" and then some
[00:10:13] Saving Resources for Human Development
Last major transaction closed December 2025: Resources for Human Development, founded 1970, on the brink of insolvency with bank loans called and 1,800 jobs at risk
In six months, Inperium recapitalized the business, retired the debt, and moved it into tax-exempt public municipal markets
Reduced general and administrative costs from nearly 25 cents on the dollar to 9 cents on the dollar
Organization is now solvent, growing, and expanding into new geographies
[00:13:25] The Relationship That Changed Everything: Jay Depper
Met Jay Depper in September 2016, just nine months after incorporation, through broker Kevin Fee
Jay was CEO of Edison Court in Bucks County, PA; affiliated with Inperium and spent the next four years building the model together
Jay's early adoption and belief in the concept set the trajectory for Inperium's first five years of growth
After COVID, the two disagreed on direction and Jay resigned; they disconnected personally and professionally for three years
[00:15:30] Four Days That Rebuilt a Partnership
Over a year ago, Ryan brought Jay to his home for a four-day in-person meeting to unpack everything before agreeing to move forward
Jay returned as full-time Chief Development Officer; together they consummated four deals in the year since his return
Ryan describes their dynamic as "an unstoppable force" in developing Inperium
[00:16:27] Scaling to $2-3 Billion: The Vision
Plan to expand from four to roughly ten total services verticals including higher education and arts
Goal is to drive back office costs to 5 or 6 cents on the dollar at that scale, down from 9 cents today
Agnostic to size, geography, and services; evaluates all comers and starts with yes
[00:20:14] First Deal Outside Pennsylvania
Inperium started Pennsylvania-centric; first out-of-state deal closed in New Jersey, followed by Raleigh, North Carolina
North Carolina was the epiphany: proof of concept beyond the Commonwealth, now operating in 20 states
Nothing preventing expansion to all 50 states; already has 13 companies in Pennsylvania alone collaborating across service spaces
KEY QUOTES
"People are paying attention. People are showing that there's proof in this concept. That was an epiphany for me that this is bigger than just Harrisburg to Philadelphia." - Ryan Dewey Smith
"Our assets remained ours. Our contracts remained ours. Our legacy was insulated from a business combination. That's what I did." - Ryan Dewey Smith
"We start with yes. Our business is built around adding business partners that are accretive to our constellation." - Ryan Dewey Smith
CONNECT WITH RYAN DEWEY SMITH
🌐 Personal Website: https://www.ryandeweysmith.com
🌐 Inperium: http://www.inperium.org
💼 LinkedIn: https://www.linkedin.com/in/ryan-dewey-smith/
Thanks for tuning in!
If you liked my show, please LEAVE A 5-STAR REVIEW, like, and subscribe!
Find me on:
