Civic Intelligence

Ase Incorporated

990 • Fiscal year 2021 • EIN 20-4106910

Jan 01, 2021 to Dec 31, 2021 • Filed on May 12, 2022

146 E Bell CourtLexington, KY 40508

(859) 509-7072

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

73rd percentile

0.05x

Higher debt load relative to assets than 73% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

78th percentile

0.09x

Higher debt load relative to revenue than 78% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

87th percentile

52%

Higher net margin than 87% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

78th percentile

42%

Faster asset growth than 78% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

11th percentile

-69%

Faster revenue growth than 11% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Assets

Up

$205,097

Up $60,409 (+42%) from 2020

Net Assets

Up

$195,701

Up $54,398 (+38%) from 2020

Liabilities

Up

$9,396

Up $6,011 (+178%) from 2020

Revenue

Down

$104,457

Down $227,916 (-69%) from 2020

Expenses

Down

$50,059

Down $233,659 (-82%) from 2020

Net Income

Up

$54,398

Up $5,743 (+12%) from 2020

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600K$400K$200K$0-$200KAssets 2011: $50,495Liabilities 2011: $28,8602011Assets 2012: $71,054Liabilities 2012: $27,500Net Assets 2012: $43,5542012Assets 2013: $36,366Liabilities 2013: $52,500Net Assets 2013: -$16,1342013Assets 2014: $54,213Liabilities 2014: $43,773Net Assets 2014: $10,4402014Assets 2015: $49,251Liabilities 2015: $41,500Net Assets 2015: $7,7512015Assets 2016: $41,018Liabilities 2016: $23,657Net Assets 2016: $17,3612016Assets 2017: $52,826Liabilities 2017: $46,475Net Assets 2017: $6,3512017Assets 2018: $98,212Liabilities 2018: $55,282Net Assets 2018: $42,9302018Assets 2019: $143,244Liabilities 2019: $50,596Net Assets 2019: $92,6482019Assets 2020: $144,688Liabilities 2020: $3,385Net Assets 2020: $141,3032020Assets 2021: $205,097Liabilities 2021: $9,396Net Assets 2021: $195,7012021Assets 2022: $247,704Liabilities 2022: $13,169Net Assets 2022: $234,5352022Assets 2023: $299,464Liabilities 2023: $10,200Net Assets 2023: $289,2642023Assets 2024: $426,235Liabilities 2024: $21,800Net Assets 2024: $404,4352024

Highlighted filing

2021

Assets$205,097
Liabilities$9,396
Net Assets$195,701

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400K$200K$0-$200KRevenue 2011: $176,735Expenses 2011: $165,126Net Income 2011: $11,6092011Revenue 2012: $210,291Expenses 2012: $188,372Net Income 2012: $21,9192012Revenue 2013: $204,354Expenses 2013: $264,042Net Income 2013: -$59,6882013Revenue 2014: $201,206Expenses 2014: $174,632Net Income 2014: $26,5742014Revenue 2015: $137,209Expenses 2015: $139,898Net Income 2015: -$2,6892015Revenue 2016: $261,925Expenses 2016: $252,315Net Income 2016: $9,6102016Revenue 2017: $90,783Expenses 2017: $101,793Net Income 2017: -$11,0102017Revenue 2018: $198,177Expenses 2018: $161,598Net Income 2018: $36,5792018Revenue 2019: $214,609Expenses 2019: $164,891Net Income 2019: $49,7182019Revenue 2020: $332,373Expenses 2020: $283,718Net Income 2020: $48,6552020Revenue 2021: $104,457Expenses 2021: $50,059Net Income 2021: $54,3982021Revenue 2022: $313,914Expenses 2022: $275,080Net Income 2022: $38,8342022Revenue 2023: $285,515Expenses 2023: $230,786Net Income 2023: $54,7292023Revenue 2024: $394,519Expenses 2024: $279,348Net Income 2024: $115,1712024

Highlighted filing

2021

Revenue$104,457
Expenses$50,059
Net Income$54,398
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 12, 2022
Return Version
2021v4.0
Gross Receipts
$104,697
Mission and Program Overview

Mission

Educating, preserving and promoting the american spiritual art form

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$86,758$101,205▲ $14,447
Cash and Non-Interest-Bearing Accounts$27,220$64,578▲ $37,358
Accounts Receivable$13,418$19,276▲ $5,858
Inventories for Sale or Use$8,125$7,885▼ $240
Prepaid Expenses and Deferred Charges-$7,000-
Intangible Assets$8,969$5,125▼ $3,844
Land, Buildings, and Equipment, Net$198$28▼ $170
Total Assets$144,688$205,097▲ $60,409
Liabilities
Other Liabilities-$8,500-
Accounts Payable and Accrued Expenses$3,385$896▼ $2,489
Total Liabilities$3,385$9,396▲ $6,011
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$91,303$145,701▲ $54,398
Net Assets With Donor Restrictions$50,000$50,000→ $0
Total Net Assets Fund Balance$141,303$195,701▲ $54,398
Total Liabilities and Net Assets / Fund Balance$144,688$205,097▲ $60,409

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$28$2,910$2,938
Compensation and Service Providers

Board Members and Trustees

NameTitle
Everett MccorveyPresident
Ann GrundyBoard Member
Mark DavisBoard Member
Peggy StampsBoard Member
Alicia HelmVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$78,793
Program Service Revenue
$20,763
Investment Income
$3,978
Other Revenue
$923
All Other Contributions
$78,793
Change in Net Assets
$54,398
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$50,059
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Travel$11,271--$11,271
Depreciation Depletion$5,964$170-$6,134
Advertising$5,585--$5,585
Occupancy$3,500--$3,500
Fees for Services Accounting-$2,545-$2,545
Fees for Services Legal-$2,000-$2,000
Office Expenses$1,236--$1,236
Fees for Service Investment Mgmnt Fees-$370-$370
Fees for Services Other-$195-$195
Other Expenses$58--$58
Total Functional Expenses$44,779$5,280$0$50,059
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Alicia HelmBoard MemberPerformance FeesNo-
Everett MccorveyBoard MemberPerformance FeesNo-
Peggy StampsBoard MemberProgram AdminNo-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Unearned Concert Revenue$8,500
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

No review was or will be conducted.

Form 990, Page 6, Part VI, Line 19

UPON WRITTEN REQUEST

Filing and Contact Details

Filer

Filer Name
Ase Inc
EIN
20-4106910
Phone
8595097072
Address
146 E BELL COURT, LEXINGTON, KY 40508

Signing Officer

Name
Everett Mccorvey
Title
President
Phone
8595097072
Signed
2022-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Everett Mccorvey
Formed
2001
Legal Domicile
Ky
Voting Board Members
8
Independent Board Members
8
Employees
0

Preparer

Firm
Skw Cpas & Advisors Pllc
Address
183 WALTON AVE, LEXINGTON, KY 40508
Preparer
Donna J Smith CPA
Phone
8597211820
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0EVERETT MCCORVEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08595097072
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ASE INC
ReturnHeader/Filer/BusinessNameControlTxt0ASEI
ReturnHeader/Filer/EIN0204106910
ReturnHeader/Filer/PhoneNum08595097072
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ReturnHeader/ReturnTs02022-05-20T15:09:26-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0EVERETT
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MCCORVEY
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.26$0.22$4.04$3.95$2.79$1.15
2023Detailed filing. Detailed filing data is available for this year.$2.99$0.10$2.89$2.86$2.31$0.55
2022Detailed filing. Detailed filing data is available for this year.$2.48$0.13$2.35$3.14$2.75$0.39
2021Detailed filing. Detailed filing data is available for this year.$2.05$0.09$1.96$1.04$0.50$0.54
2020Detailed filing. Detailed filing data is available for this year.$1.45$0.03$1.41$3.32$2.84$0.49
2019Detailed filing. Detailed filing data is available for this year.$1.43$0.51$0.93$2.15$1.65$0.50
2018Detailed filing. Detailed filing data is available for this year.$0.98$0.55$0.43$1.98$1.62$0.37
2017Detailed filing. Detailed filing data is available for this year.$0.53$0.46$0.06$0.91$1.02$0.11
2016Detailed filing. Detailed filing data is available for this year.$0.41$0.24$0.17$2.62$2.52$0.10
2015Detailed filing. Detailed filing data is available for this year.$0.49$0.42$0.08$1.37$1.40$0.03
2014Detailed filing. Detailed filing data is available for this year.$0.54$0.44$0.10$2.01$1.75$0.27
2013Summary only. Only limited summary data is available for this year.$0.36$0.53$0.16$2.04$2.64$0.60
2012Summary only. Only limited summary data is available for this year.$0.71$0.28$0.44$2.10$1.88$0.22
2011Summary only. Only limited summary data is available for this year.$0.50$0.29$1.77$1.65$0.12