Civic Intelligence

Asi Freeport Inc.

990 • Fiscal year 2019 • EIN 35-2443990

Apr 01, 2018 to Mar 31, 2019 • Filed on Aug 02, 2019

2550 University Ave West Rm 330NSt Paul, MN 55114-1903

(651) 645-7271

Siviq Scores

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

Liabilities / Assets

29th percentile

0.01x

Higher debt load relative to assets than 29% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

69th percentile

0.25x

Higher debt load relative to revenue than 69% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

6th percentile

-48%

Higher net margin than 6% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

97th percentile

$505,774

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 285.6% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

29th percentile

-2.5%

Faster asset growth than 29% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

48th percentile

3.2%

Faster revenue growth than 48% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Down

$3,687,812

Down $92,952 (-2.5%) from 2018

Net Assets

Down

$3,644,197

Down $85,697 (-2.3%) from 2018

Liabilities

Down

$43,615

Down $7,255 (-14%) from 2018

Revenue

Up

$177,074

Up $5,486 (+3.2%) from 2018

Expenses

Up

$262,771

Up $11,429 (+4.5%) from 2018

Net Income

Down

-$85,697

Down $5,943 (-7.5%) from 2018

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2017: $3,829,968Liabilities 2017: $20,320Net Assets 2017: $3,809,6482017Assets 2018: $3,780,764Liabilities 2018: $50,870Net Assets 2018: $3,729,8942018Assets 2019: $3,687,812Liabilities 2019: $43,615Net Assets 2019: $3,644,1972019Assets 2020: $3,628,864Liabilities 2020: $96,187Net Assets 2020: $3,532,6772020Assets 2021: $3,537,840Liabilities 2021: $140,372Net Assets 2021: $3,397,4682021Assets 2022: $3,441,559Liabilities 2022: $141,765Net Assets 2022: $3,299,7942022Assets 2023: $3,355,999Liabilities 2023: $176,974Net Assets 2023: $3,179,0252023Assets 2024: $3,270,660Liabilities 2024: $202,977Net Assets 2024: $3,067,6832024Assets 2025: $3,207,332Liabilities 2025: $284,473Net Assets 2025: $2,922,8592025

Highlighted filing

2019

Assets$3,687,812
Liabilities$43,615
Net Assets$3,644,197

Operations Trend

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

$400K$200K$0-$200KRevenue 2017: $170,275Expenses 2017: $225,414Net Income 2017: -$55,1392017Revenue 2018: $171,588Expenses 2018: $251,342Net Income 2018: -$79,7542018Revenue 2019: $177,074Expenses 2019: $262,771Net Income 2019: -$85,6972019Revenue 2020: $159,979Expenses 2020: $271,499Net Income 2020: -$111,5202020Revenue 2021: $160,857Expenses 2021: $296,066Net Income 2021: -$135,2092021Revenue 2022: $171,529Expenses 2022: $269,203Net Income 2022: -$97,6742022Revenue 2023: $176,239Expenses 2023: $297,008Net Income 2023: -$120,7692023Revenue 2024: $191,102Expenses 2024: $302,444Net Income 2024: -$111,3422024Revenue 2025: $194,608Expenses 2025: $339,432Net Income 2025: -$144,8242025

Highlighted filing

2019

Revenue$177,074
Expenses$262,771
Net Income-$85,697
Jump To
Filing Snapshot
Filing Period
Apr 1, 2018 to Mar 31, 2019
Signed
Aug 2, 2019
Return Version
2018v3.1
Gross Receipts
$177,074
Mission and Program Overview

Mission

To provide accessible housing for adults with disabilities and seniors. Also to provide supportive care services for adults with traumatic brain injury and mobility impairment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,610,033$3,512,939▼ $97,094
Cash and Non-Interest-Bearing Accounts$1,038$13,422▲ $12,384
Prepaid Expenses and Deferred Charges$4,215$4,215→ $0
Accounts Receivable$52,427$3,351▼ $49,076
Total Assets$3,780,764$3,687,812▼ $92,952
Other Assets Total$113,051$153,885▲ $40,834
Liabilities
Accounts Payable and Accrued Expenses$35,157$38,675▲ $3,518
Other Liabilities$15,713$4,940▼ $10,773
Total Liabilities$50,870$43,615▼ $7,255
Net Assets / Fund Balance
Unrestricted Net Assets$3,729,894$3,644,197▼ $85,697
Total Net Assets Fund Balance$3,729,894$3,644,197▼ $85,697
Total Liabilities and Net Assets / Fund Balance$3,780,764$3,687,812▼ $92,952

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,344,647$433,438$3,778,085
Land$158,236-$158,236
Other Land Buildings$10,056-$10,056
Compensation and Service Providers

Employees

NameTitleOtherTotal
Stephen Vander SchaafPresident/tr$505,774$505,774
Bradley FullerVP/secretary$111,786$111,786

Board Members and Trustees

NameTitle
Stephen Vander SchaafPresident/treasurer
John Adams MbaDirector
Kay KnutsonDirector
Mark Hamel EsqDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$108,079
Program Service Revenue
$67,493
Investment Income
$85
Other Revenue
$1,417
Change in Net Assets
$-85,697

Audited Revenue Reconciliation

Revenue per Audited Statements
$177,074
Total Revenue per Audited Statements
$177,074
Total Revenue per Form 990
$177,074
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$206,380
Salaries, Compensation, and Employee Benefits$56,391
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$97,094--$97,094
Other Salaries and Wages$44,646--$44,646
Occupancy$14,859--$14,859
All Other Expenses$14,063--$14,063
Fees for Services Accounting$6,900$5,400-$12,300
Office Expenses$12,197--$12,197
Other Employee Benefits$7,350--$7,350
Other Expenses$6,280--$6,280
Payroll Taxes$4,395--$4,395
Total Functional Expenses$257,371$5,400$0$262,771

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$262,771
Total Expenses per Audited Statements$262,771
Total Expenses per Form 990$262,771
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$4,940
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

MEMBERS

Form 990, Page 6, Part VI, Line 7A

Section 2.2 of the organization's bylaws provides that "the board of directors shall be selected by the vote of a majority of the members."

Form 990, Page 6, Part VI, Line 8B

No committee with authority to act on behalf of the governing body.

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

The form 990 was reviewed by the accounting and finance department and signed by the president.

Form 990, Page 6, Part VI, Line 12C

The organization regularly and consistently monitors and enforces the compliance of the conflict of interest policy which was adopted for all entities related to accessible space, inc.

Form 990, Page 6, Part VI, Line 19

All governing documents of the organization, including federal form 990, conflict of interest policy and financial statements can be reviewed by contacting: accessible space, inc at 2550 university ave west, suite 330n, st.paul, mn 55114-1903

Filing and Contact Details

Filer

Filer Name
Asi Freeport Inc
EIN
35-2443990
Phone
6516457271
Address
2550 UNIVERSITY AVE WEST RM 330N, ST PAUL, MN 55114-1903

Signing Officer

Name
Stephen Vander Schaaf
Title
President/treasurer
Phone
6516457271
Signed
2019-08-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen Vander Schaaf
Formed
2014
Legal Domicile
Il
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Hinrichs & Associates Ltd
Address
1000 SHELARD PARKWAY SUITE 110, MINNEAPOLIS, MN 55426
Preparer
Anthony J Hinrichs
Phone
9525428010
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1SECTION 2.2 OF THE ORGANIZATION'S BYLAWS PROVIDES THAT "THE BOARD OF DIRECTORS SHALL BE SELECTED BY THE VOTE OF A MAJORITY OF THE MEMBERS."
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 WAS REVIEWED BY THE ACCOUNTING AND FINANCE DEPARTMENT AND SIGNED BY THE PRESIDENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES THE COMPLIANCE OF THE CONFLICT OF INTEREST POLICY WHICH WAS ADOPTED FOR ALL ENTITIES RELATED TO ACCESSIBLE SPACE, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ALL GOVERNING DOCUMENTS OF THE ORGANIZATION, INCLUDING FEDERAL FORM 990, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS CAN BE REVIEWED BY CONTACTING: ACCESSIBLE SPACE, INC AT 2550 UNIVERSITY AVE WEST, SUITE 330N, ST.PAUL, MN 55114-1903
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BuildTS02019-02-21 02:37:17Z
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/TREASURER
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ReturnHeader/BusinessOfficerGrp/SignatureDt02019-08-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ASI FREEPORT INC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0C/O ACCESSIBLE SPACE INC
ReturnHeader/Filer/BusinessNameControlTxt0ASIF
ReturnHeader/Filer/EIN0352443990
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