Astec Fund Inc
- Assets
- $16.6m
- Revenue
- $4.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Oklahoma City, OK
- Founding
- 10/2014
- Data as of
- 12/2023
- EIN
- 45-5343102
Organization Overview
Astec Fund Inc is located in Oklahoma City, OK. The organization was established in 2014. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Astec Fund Inc 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 12/2023, Astec Fund Inc generated $4.8m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 44.6% each year . All expenses for the organization totaled $559.9k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO BENEFIT, PERFORM THE FUNCTIONS OF, OR CARRY OUT THE PURPOSES OF ASTEC, INC., AN OKLAHOMA NOT-FOR-PROFIT CORPORATION. ASTEC FUND, INC., WILL RAISE FUNDS FROM PUBLIC AND PRIVATE SOURCES AND MANAGE PROPERTY TO SUPPORT EDUCATION PROGRAMS OF ASTEC, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASTEC FUND, INC. OWNS 19.9 ACRES OF LAND IN OKLAHOMA CITY, OK FOR DEVELOPMENT AND USE BY ASTEC, INC, AS A SCHOOL FACILITY. IN 2022, ASTEC ELEMENTARY HAD A YEAR OF IN-SCHOOL INSTRUCTION IN THE NEW BUILDING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Freda Deskin Executive Director | Officer | 3.5 | $0 |
Bradley Jordan Member | Trustee | 1 | $0 |
Donnie Jones Member | Trustee | 1 | $0 |
Clayton Moss Member | Trustee | 1 | $0 |
Rita Moore Member | Trustee | 1 | $0 |
Lou C Kerr Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fsb Architects & Engineers Architecture | 12/30/21 | $293,619 |
Miller-tippens Construction Construction | 12/30/21 | $103,045 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $825,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,349 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $826,349 |
| Total Program Service Revenue | $4,015,629 |
| Investment income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,841,978 |
| 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 | $13,145 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $70 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $473,533 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $73,150 |
| All other expenses | $0 |
| Total functional expenses | $559,898 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,020,243 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $12,566,252 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,586,495 |
| Accounts payable and accrued expenses | $0 |
| 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 | $8,695,784 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $8,695,784 |
| Net assets without donor restrictions | $7,890,711 |
| Net assets with donor restrictions | $0 |
| 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 | $16,586,495 |