Ase Incorporated
- Assets
- $205.1k
- Revenue
- $104.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Lexington, KY
- Founding
- 07/2007
- Data as of
- 12/2021
- EIN
- 20-4106910
Organization Overview
Ase Incorporated is located in Lexington, KY. The organization was established in 2007. According to its NTEE Classification (A68) the organization is classified as: Music, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ase Incorporated is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Ase Incorporated generated $104.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.8%) each year. All expenses for the organization totaled $50.1k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (13.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATING, PRESERVING AND PROMOTING THE AMERICAN SPIRITUAL ART FORM
Describe the Organization's Program Activity:
Part 3 - Line 4a
MUSICAL PERFORMANCES, MASTER CLASS TEACHING, AND SALE OF CDS FOR THE PURPOSE OF EDUCATING ABOUT AND APPRECIATION FOR THE AMERICAN SPIRITUAL ART FORM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Everett Mccorvey President | OfficerTrustee | 5 | $0 |
Alicia Helm Vice Preside | OfficerTrustee | 0.5 | $0 |
Ann Grundy Board Member | Trustee | 0.5 | $0 |
Peggy Stamps Board Member | Trustee | 4 | $0 |
Mark Davis Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $78,793 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $78,793 |
| Total Program Service Revenue | $20,763 |
| Investment income | $3,978 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $923 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $104,457 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,000 |
| Fees for services: Accounting | $2,545 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $370 |
| Fees for services: Other | $195 |
| Advertising and promotion | $5,585 |
| Office expenses | $1,236 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,500 |
| Travel | $11,271 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,134 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $50,059 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $64,578 |
| Savings and temporary cash investments | $101,205 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $19,276 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $7,885 |
| Prepaid expenses and deferred charges | $7,000 |
| Net Land, buildings, and equipment | $28 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $5,125 |
| Other assets | $0 |
| Total assets | $205,097 |
| Accounts payable and accrued expenses | $896 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,500 |
| Total liabilities | $9,396 |
| Net assets without donor restrictions | $145,701 |
| Net assets with donor restrictions | $50,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $205,097 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Ase Incorporated has recieved totaling $15,527.
| Awarding Organization | Amount |
|---|---|
Raymond James Charitable Endowment Fund St Petersberg, FL PURPOSE: GENERAL SUPPORT | $10,000 |
Blue Grass Community Foundation Inc Lexington, KY PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION | $5,527 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Grant Park Orchestral Association Chicago, IL | $15,259,948 | $7,547,765 |
Jazz St Louis St Louis, MO | $11,818,193 | $2,884,733 |
Birthplace Of Country Music Alliance Bristol, TN | $15,699,295 | $2,559,665 |
Musicians On Call Inc Nashville, TN | $3,633,934 | $3,486,106 |
Chicago Sinfonietta Inc Chicago, IL | $3,675,444 | $3,506,738 |
Ragtag Film Society Columbia, MO | $1,382,564 | $1,866,748 |
Percussive Arts Society Inc Indianapolis, IN | $5,047,679 | $2,367,696 |
Rainey Institute Cleveland, OH | $11,251,048 | $1,722,143 |
Musical Arts Assn Orch End Fd Brooklyn, OH | $16,962,824 | $1,881,945 |
Music Of The Baroque Concert Series Inc Chicago, IL | $2,610,285 | $1,900,263 |
Radio Arts Foundation Clayton, MO | $3,517,540 | $1,458,263 |
Garth Newel Music Center Foundation Corp Warm Springs, VA | $11,030,155 | $3,286,449 |