Civic Intelligence

Astec Fund Inc.

990 • Fiscal year 2019 • EIN 45-5343102

Jan 01, 2019 to Dec 31, 2019 • Filed on Apr 21, 2022

Organization ProfileWWW.ASTECCHARTERSCHOOLS.COM/OUR-FOUNDATION
2401 NW 23rd St No 39AOklahoma City, OK 73107-2442

(405) 947-6272

Siviq Scores

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

Liabilities / Assets

74th percentile

0.33x

Higher debt load relative to assets than 74% of similar nonprofits.

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

Liabilities / Revenue

83rd percentile

0.73x

Higher debt load relative to revenue than 83% of similar nonprofits.

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

Net Margin

99th percentile

98%

Higher net margin than 99% of similar nonprofits.

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

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2019

Asset Growth

92nd percentile

57%

Faster asset growth than 92% of similar nonprofits.

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

Revenue Growth

95th percentile

123%

Faster revenue growth than 95% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets74th percentile

Assets

Up

$1,711,892

Up $622,493 (+57%) from 2018

Net Assets

Up

$1,154,355

Up $358,609 (+45%) from 2018

Liabilities

Up

$557,537

Up $263,884 (+90%) from 2018

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin99th percentile

Revenue

Up

$765,139

Up $421,455 (+123%) from 2018

Expenses

Down

$15,388

Down $108,639 (-88%) from 2018

Net Income

Up

$749,751

Up $530,094 (+241%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth92nd percentile

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

$30M$20M$10M$0Assets 2013: $839,045Liabilities 2013: $557,537Net Assets 2013: $281,5082013Assets 2014: $779,289Liabilities 2014: $557,537Net Assets 2014: $221,7522014Assets 2015: $837,404Liabilities 2015: $557,537Net Assets 2015: $279,8672015Assets 2016: $886,722Liabilities 2016: $557,538Net Assets 2016: $329,1852016Assets 2017: $912,019Liabilities 2017: $363,293Net Assets 2017: $548,7262017Assets 2018: $1,089,399Liabilities 2018: $293,653Net Assets 2018: $795,7462018Assets 2019: $1,711,892Liabilities 2019: $557,537Net Assets 2019: $1,154,3552019Assets 2020: $9,346,977Liabilities 2020: $7,990,890Net Assets 2020: $1,356,0872020Assets 2021: $10,902,009Liabilities 2021: $8,670,266Net Assets 2021: $2,231,7432021Assets 2022: $12,017,575Liabilities 2022: $8,408,944Net Assets 2022: $3,608,6312022Assets 2023: $16,586,495Liabilities 2023: $8,695,784Net Assets 2023: $7,890,7112023Assets 2024: $21,788,098Liabilities 2024: $8,195,784Net Assets 2024: $13,592,3142024

Highlighted filing

2019

Assets$1,711,892
Liabilities$557,537
Net Assets$1,154,355
Open 2019 Filing

Operations Trend

Revenue Growth95th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2013: $206,253Expenses 2013: $377,682Net Income 2013: -$171,4292013Revenue 2014: $275,929Expenses 2014: $335,685Net Income 2014: -$59,7562014Revenue 2015: $576,138Expenses 2015: $534,289Net Income 2015: $41,8492015Revenue 2016: $288,892Expenses 2016: $70,183Net Income 2016: $218,7092016Revenue 2017: $279,152Expenses 2017: $242,926Net Income 2017: $36,2262017Revenue 2018: $343,684Expenses 2018: $124,027Net Income 2018: $219,6572018Revenue 2019: $765,139Expenses 2019: $15,388Net Income 2019: $749,7512019Revenue 2020: $214,369Expenses 2020: $12,637Net Income 2020: $201,7322020Revenue 2021: $934,572Expenses 2021: $58,916Net Income 2021: $875,6562021Revenue 2022: $1,841,987Expenses 2022: $465,099Net Income 2022: $1,376,8882022Revenue 2023: $4,841,978Expenses 2023: $559,898Net Income 2023: $4,282,0802023Revenue 2024: $5,985,065Expenses 2024: $283,462Net Income 2024: $5,701,6032024

Highlighted filing

2019

Revenue$765,139
Expenses$15,388
Net Income$749,751
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Apr 21, 2022
Return Version
2019v5.2
Gross Receipts
$765,139
Mission and Program Overview

Mission

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.

Fundraising and property management to support astec inc. (astec charter schools)

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$745,715$1,524,360▲ $778,645
Cash and Non-Interest-Bearing Accounts$216,426$187,532▼ $28,894
Total Assets$962,141$1,711,892▲ $749,751
Liabilities
Mortgage Notes Payable Secured by Investment Property$557,537$557,537→ $0
Total Liabilities$557,537$557,537→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$404,604$1,154,355▲ $749,751
Total Net Assets Fund Balance$404,604$1,154,355▲ $749,751
Total Liabilities and Net Assets / Fund Balance$962,141$1,711,892▲ $749,751

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$778,645-$778,645
Land$745,715-$745,715
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Doug FullerChairman
Freda DeskinExecutive Director
Bradley JordanMember
Clayton MossMember
Donnie JonesMember
Jerry BurgerMember
Judy HatfieldMember
Kerry AlexanderMember
Lou C KerrMember
Rita MooreMember
Revenue and Support

Revenue Composition

Contributions and Grants
$572,400
Program Service Revenue
$188,106
Investment Income
$4,633
Other Revenue
$0
All Other Contributions
$572,400
Change in Net Assets
$749,751
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$15,388
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
Other Expenses$10,059--$10,059
Occupancy$5,329--$5,329
Total Functional Expenses$15,388$0$0$15,388
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“Aerospace science and technology education center, inc. ("astec, inc.") is the sole member of astec fund, inc.”

Form 990, Part VI, Section A, Line 7A

“Astec, inc. Has the ability to appoint one less than a majority of the board of directors of astec fund, inc.”

Form 990, Part VI, Section A, Line 8B

“The organization does not have committees with authority to act on behalf of the governing body.”

Form 990, Part VI, Section B, Line 11B

“The organization's form 990 undergoes internal and external reviews. It is prepared by an independent accounting firm and reviewed by the organization's executive director. A final copy is provided to the board of directors prior to filing with the irs.”

Form 990, Part VI, Section B, Line 12C

“Astec fund, inc regularly and consistently monitors and enforces compliance with the conflict of interest policy by requiring all members to sign forms each year.”

Form 990, Part VI, Section B, Line 15

“Astec fund, inc. Did not pay any compensation in 2019.”

Form 990, Part VI, Section C, Line 19

“Pursuant to internal revenue code section 6104, the organization's governing documents, conflict of interest policy, and financial statements are not currently made available to the public.”

Filing and Contact Details

Filer

Filer Name
Astec Fund Inc
EIN
45-5343102
Phone
4059476272
Address
2401 NW 23RD ST NO 39A, OKLAHOMA CITY, OK 73107-2442

Signing Officer

Name
Freda Deskin Phd
Title
Founder & CEO
Phone
4059476272
Signed
2022-04-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Freda Deskin Phd
Formed
2012
Legal Domicile
Ok
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
20

Preparer

Firm
Rsm US Llp
Address
210 PARK AVE SUITE 1725, OKLAHOMA CITY, OK 73102
Preparer
Lauren Nowakowski
Phone
4052397961
Supplemental Narrative

Additional Explanations

FORM 990 ITEM B: EXPLANATION OF AMENDMENT

“The organization is filing this amended 2019 form 990 to reflect revised financial statement information on parts viii through xii, correct the inadvertent omission of officer information on part vii section a, and update the corresponding schedules accordingly.”

Raw XML AppendixShowing 400 of 426 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0ASTEC FUND INC.'S SUPPORTED ORGANIZATION, AEROSPACE SCIENCE AND TECHNOLOGY EDUCATION CENTER, INC. ("ASTEC, INC.") HAS A SIGNIFICANT VOICE IN THE FUND'S INVESTMENT POLICIES AND DIRECTING THE USE OF ASTEC FUND, INC.'S INCOME AND ASSETS. FIRST, ASTEC, INC. ELECTS ONE LESS THAN A MAJORITY OF THE FUND'S BOARD OF DIRECTORS ("BOARD"). ASTEC, INC. OFFICERS AND DIRECTORS ALSO HOLD NON-VOTING EX-OFFICIO SEATS ON THE BOARD. FURTHER, A QUORUM OF THE BOARD REQUIRES THE PRESENCE OF AT LEAST ONE DIRECTOR APPOINTED BY ASTEC, INC. ACCORDINGLY, WHILE IT DOES NOT HAVE VOTING CONTROL OF THE BOARD, ASTEC, INC. HAS SIGNIFICANT BOARD REPRESENTATION. SECOND, THE CHIEF EXECUTIVE OFFICER OF ASTEC, INC. SERVES ON THE FUND'S EXECUTIVE COMMITTEE, WHICH IS AUTHORIZED TO EXERCISE THE AUTHORITY OF THE BOARD, WITH CERTAIN LIMITATIONS. THIRD, THE BYLAWS OF THE FUND REQUIRE THAT THE TREASURER MUST MAKE ALL FINANCIAL INFORMATION OF THE FUND AVAILABLE TO ANY DIRECTOR (WHETHER EX-OFFICIO OR NOT) UPON REQUEST. THUS, ASTEC, INC. OFFICERS (IN THEIR CAPACITY AS EX-OFFICIO DIRECTORS) HAVE FULL ACCESS TO FINANCIAL INFORMATION AND RECORDS OF THE FUND. LASTLY, THE FUND HOLDS THE MAJORITY OF ASTEC, INC.'S ASSETS. ACCORDINGLY, ASTEC, INC. WILL BE ACTIVELY INVOLVED IN THE INVESTMENT POLICIES AND USE OF THE FUND'S INCOME AND ASSETS. THE ACTIVITIES OF THE FUND ARE VITALLY IMPORTANT TO ASTEC, INC. AND THE RELATIONSHIP BETWEEN THE TWO ENTITIES HAS BEEN STRUCTURED TO ENSURE THAT ASTEC, INC. IS ABLE TO BOTH OBTAIN REGULAR INFORMATION REGARDING SUCH ACTIVITIES AND PROVIDE DIRECTION AND GUIDANCE TO THE FUND.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION C, LINE 1
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
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IRS990ScheduleA/SupportingOrgType2Ind0X
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IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0778645
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01524360
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
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IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0FREDA DESKIN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0161878
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS FILING THIS AMENDED 2019 FORM 990 TO REFLECT REVISED FINANCIAL STATEMENT INFORMATION ON PARTS VIII THROUGH XII, CORRECT THE INADVERTENT OMISSION OF OFFICER INFORMATION ON PART VII SECTION A, AND UPDATE THE CORRESPONDING SCHEDULES ACCORDINGLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AEROSPACE SCIENCE AND TECHNOLOGY EDUCATION CENTER, INC. ("ASTEC, INC.") IS THE SOLE MEMBER OF ASTEC FUND, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ASTEC, INC. HAS THE ABILITY TO APPOINT ONE LESS THAN A MAJORITY OF THE BOARD OF DIRECTORS OF ASTEC FUND, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION DOES NOT HAVE COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S FORM 990 UNDERGOES INTERNAL AND EXTERNAL REVIEWS. IT IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND REVIEWED BY THE ORGANIZATION'S EXECUTIVE DIRECTOR. A FINAL COPY IS PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ASTEC FUND, INC REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY BY REQUIRING ALL MEMBERS TO SIGN FORMS EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ASTEC FUND, INC. DID NOT PAY ANY COMPENSATION IN 2019.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7PURSUANT TO INTERNAL REVENUE CODE SECTION 6104, THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT CURRENTLY MADE AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 ITEM B: EXPLANATION OF AMENDMENT
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0ASTEC INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0731577092
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0OK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0EDUCATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt02
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt02401 NW 23RD ST STE 39A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0OKLAHOMA CITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0OK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd073107
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd01
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
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IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02401 NW 23RD ST NO 39A
IRS990/USAddress/CityNm0OKLAHOMA CITY
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IRS990/USAddress/ZIPCd0731072442
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.ASTECCHARTERSCHOOLS.COM/OUR-FOUNDATION
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,711,892
Liabilities
$557,537
Net assets
$1,154,355
Revenue
$765,139
Expenses
$15,388
Net income
$749,751
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$21.8$8.20$13.6$5.99$0.28$5.70
2023Detailed filing. Detailed filing data is available for this year.$16.6$8.70$7.89$4.84$0.56$4.28
2022Detailed filing. Detailed filing data is available for this year.$12.0$8.41$3.61$1.84$0.47$1.38
2021Detailed filing. Detailed filing data is available for this year.$10.9$8.67$2.23$0.93$0.06$0.88
2020Detailed filing. Detailed filing data is available for this year.$9.35$7.99$1.36$0.21$0.01$0.20
2019Detailed filing. Detailed filing data is available for this year.$1.71$0.56$1.15$0.77$0.02$0.75
2018Summary only. Only limited summary data is available for this year.$1.09$0.29$0.80$0.34$0.12$0.22
2017Summary only. Only limited summary data is available for this year.$0.91$0.36$0.55$0.28$0.24$0.04
2016Summary only. Only limited summary data is available for this year.$0.89$0.56$0.33$0.29$0.07$0.22
2015Summary only. Only limited summary data is available for this year.$0.84$0.56$0.28$0.58$0.53$0.04
2014Summary only. Only limited summary data is available for this year.$0.78$0.56$0.22$0.28$0.34$0.06
2013Summary only. Only limited summary data is available for this year.$0.84$0.56$0.28$0.21$0.38$0.17