Assets Incorporated
- Assets
- $12.2m
- Revenue
- $14.3m
- Investments
- $0.0
- Employees
- 371
- Location
- Anchorage, AK
- Founding
- 03/1982
- Data as of
- 06/2022
- EIN
- 92-0076696
Organization Overview
Assets Incorporated is located in Anchorage, AK. The organization was established in 1982. According to its NTEE Classification (J20) the organization is classified as: Employment Preparation & Procurement, under the broad grouping of Employment and related organizations. As of 06/2022, Assets Incorporated employed 371 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Assets 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 06/2022, Assets Incorporated generated $14.3m 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 (3.5%) each year. All expenses for the organization totaled $14.4m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (3.9%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ASSETS, INC. (THE ORGANIZATION) IS A NOT-FOR-PROFIT CORPORATION ORGANIZED FOR THE PURPOSE OF PROVIDING SERVICES THAT PROMOTE THE INDEPENDENCE OF ANCHORAGE AREA INDIVIDUALS WHO, DUE TO THE NATURE AND SEVERITY OF THEIR DISABILITIES, NEED SUPPORT TO LIVE AND WORK IN THE COMMUNITY. THE COMPANY PROVIDES VOCATIONAL TRAINING, SUPPORTED LIVING, AND EMPLOYMENT SERVICES CONDUCTIVE TO THIS PURPOSE, INCLUDING ASSESSMENT, COMMUNITY EMPLOYMENT, AND ONGOING SUPPORT SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTRACT SERVICES - ASSETS HAS ACHIEVED THE EMPLOYMENT OF APPROXIMATELY 150 INDIVIDUALS WITH COGNITIVE OR INTELLECTUAL DISABILITIES BY DIRECTLY EMPLOYING PERSONS WITH DISABILITIES TO PROVIDE THE OPERATIONS OF SEVERAL FEDERAL, STATE, AND PRIVATE CONTRACTS THE ORGANIZATION OPERATES WITHIN THE COMMUNITY.
SUPPORTED LIVING SERVICES - SKILL BUILDING, COACHING, AND RESOURCE COORDINATION TO ASSIST INDIVIDUALS TO LIVE IN THEIR OWN HOMES.
SUPPORTED EMPLOYMENT - ASSISTS INDIVIDUALS TO OBTAIN AND RETAIN EMPLOYMENT WITHIN LOCAL BUSINESSES. CURRENTLY WORKS WITH OVER 40 LOCAL EMPLOYERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Jones CEO | Officer | 40 | $145,610 |
Chuck Almasy COO | Officer | 40 | $139,362 |
Martha J Romero Director Of Behavi | 40 | $121,824 | |
Renee Behrendt Finance Dir | Officer | 40 | $70,732 |
Travers Gee Chairman | OfficerTrustee | 2 | $0 |
Wallace Jenkins Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $218,844 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,160 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $223,004 |
| Total Program Service Revenue | $13,731,212 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $164,503 |
| 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 | $14,279,627 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $43 |
| 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. | $390,733 |
| Compensation of current officers, directors, key employees. | $74,674 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,972,139 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,860,252 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,208 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $282,080 |
| Advertising and promotion | $585 |
| Office expenses | $16,802 |
| Information technology | $407,397 |
| Royalties | $0 |
| Occupancy | $419,938 |
| Travel | $55,182 |
| 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 | $137,270 |
| Insurance | $153,153 |
| All other expenses | $145,804 |
| Total functional expenses | $14,372,015 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,627,689 |
| Savings and temporary cash investments | $9,519 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $632,125 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $93,469 |
| Prepaid expenses and deferred charges | $369,667 |
| Net Land, buildings, and equipment | $1,364,680 |
| Investments—publicly traded securities | $6,077,948 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1 |
| Total assets | $12,175,098 |
| Accounts payable and accrued expenses | $31,269 |
| 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 | $0 |
| Total liabilities | $31,269 |
| Net assets without donor restrictions | $12,143,829 |
| 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 | $12,175,098 |