Civic Intelligence

Astec Fund Inc.

990 • Fiscal year 2020 • EIN 45-5343102

Jan 01, 2020 to Dec 31, 2020 • Filed on Apr 29, 2022

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

88th percentile

0.85x

Higher debt load relative to assets than 88% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

99th percentile

37.28x

Higher debt load relative to revenue than 99% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

98th percentile

94%

Higher net margin than 98% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

66th percentile

$159,224

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 74.3% of source-year revenue.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

99th percentile

446%

Faster asset growth than 99% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

3rd percentile

-72%

Faster revenue growth than 3% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Assets

Up

$9,346,977

Up $7,635,085 (+446%) from 2019

Net Assets

Up

$1,356,087

Up $201,732 (+17%) from 2019

Liabilities

Up

$7,990,890

Up $7,433,353 (+1333%) from 2019

Revenue

Down

$214,369

Down $550,770 (-72%) from 2019

Expenses

Down

$12,637

Down $2,751 (-18%) from 2019

Net Income

Down

$201,732

Down $548,019 (-73%) from 2019

Historical Trend

Balance Sheet Trend

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

2020

Assets$9,346,977
Liabilities$7,990,890
Net Assets$1,356,087

Operations Trend

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

2020

Revenue$214,369
Expenses$12,637
Net Income$201,732
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Apr 29, 2022
Return Version
2020v4.2
Gross Receipts
$214,369
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$1,524,360$9,096,959▲ $7,572,599
Cash and Non-Interest-Bearing Accounts$187,532$250,018▲ $62,486
Total Assets$1,711,892$9,346,977▲ $7,635,085
Liabilities
Mortgage Notes Payable Secured by Investment Property$557,537$7,990,890▲ $7,433,353
Total Liabilities$557,537$7,990,890▲ $7,433,353
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,154,355$1,356,087▲ $201,732
Total Net Assets Fund Balance$1,154,355$1,356,087▲ $201,732
Total Liabilities and Net Assets / Fund Balance$1,711,892$9,346,977▲ $7,635,085

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$8,351,244-$8,351,244
Land$745,715-$745,715
Compensation and Service Providers

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

Highest Paid Contractors

ContractorServicesLocationCompensation
Miller-tippens ConstructionConstruction45 NE 52ND ST, Oklahoma City, OK 73105$7,090,489
Fsb Architects & EngineersArchitecture5801 BROADWAY EXTENSION HWY SUITE 5, Oklahoma City, OK 73118$127,670
Revenue and Support

Revenue Composition

Contributions and Grants
$1,350
Program Service Revenue
$212,183
Investment Income
$836
Other Revenue
$0
All Other Contributions
$1,350
Change in Net Assets
$201,732
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$12,637
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
Occupancy$12,637--$12,637
Total Functional Expenses$12,637$0$0$12,637
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 monitor and enforce compliance with the conflict of interest policy by requiring all members to sing forms each year.

Form 990, Part VI, Section B, Line 15

Astec fund, inc. Did not pay any compensation in 2020.

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
2022-04-29
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
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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
IRS990ScheduleA/IRSWrittenDeterminationInd0X
IRS990ScheduleA/MajorityDirTrstSupportedOrgInd00
IRS990ScheduleA/OtherSupportSumAmt00
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IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd02
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0ASTEC INC
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IRS990ScheduleA/SupportingOrgType2Ind0X
IRS990ScheduleA/SupportSumAmt00
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/LandGrp/BookValueAmt0745715
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0745715
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IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt08351244
IRS990ScheduleD/TotalBookValueLandBuildingsAmt09096959
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt015720
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0FREDA DESKIN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0159224
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0AEROSPACE SCIENCE AND TECHNOLOGY EDUCATION CENTER, INC. ("ASTEC, INC.") IS THE SOLE MEMBER OF ASTEC FUND, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ASTEC, INC. HAS THE ABILITY TO APPOINT ONE LESS THAN A MAJORITY OF THE BOARD OF DIRECTORS OF ASTEC FUND, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION DOES NOT HAVE COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE 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/ExplanationTxt4ASTEC FUND, INC REGULARLY AND CONSISTENTLY MONITOR AND ENFORCE COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY BY REQUIRING ALL MEMBERS TO SING FORMS EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ASTEC FUND, INC. DID NOT PAY ANY COMPENSATION IN 2020.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6PURSUANT 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, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 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)
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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
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0OK
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsEOYAmt09346977
IRS990/TotalAssetsGrp/BOYAmt01711892
IRS990/TotalAssetsGrp/EOYAmt09346977
IRS990/TotalCompGreaterThan150KInd01
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
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IRS990/TotalFunctionalExpensesGrp/TotalAmt012637
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt07990890
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01356087
IRS990/TotalOtherCompensationAmt07391
IRS990/TotalProgramServiceExpensesAmt012637
IRS990/TotalProgramServiceRevenueAmt0212183
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0213019
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0214369
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt020
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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/WebsiteAddressTxt0WWW.ASTECCHARTERSCHOOLS.COM/OUR-FOUNDATION
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1

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