Civic Intelligence

Assets Incorporated

990 • Fiscal year 2022 • EIN 92-0076696

Jul 01, 2021 to Jun 30, 2022 • Filed on May 15, 2023

Organization Profilewww.assetsinc.org

View Organization Page

2330 Nichols StAnchorage, AK 99508

(907) 334-8622

Siviq Scores

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

Liabilities / Assets

10th percentile

0.00x

Higher debt load relative to assets than 10% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

6th percentile

0.00x

Higher debt load relative to revenue than 6% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

29th percentile

-0.6%

Higher net margin than 29% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

41st percentile

$153,360

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

2nd percentile

-33%

Faster asset growth than 2% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

25th percentile

-11%

Faster revenue growth than 25% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets10th percentile

Assets

Down

$12,175,098

Down $6,080,919 (-33%) from 2021

Net Assets

Up

$12,143,829

Up $178,671 (+1.5%) from 2021

Liabilities

Down

$31,269

Down $6,259,590 (-100%) from 2021

Revenue And Expenses
Liabilities / Revenue6th percentileNet Margin29th percentile

Revenue

Down

$14,279,627

Down $1,837,005 (-11%) from 2021

Expenses

Down

$14,372,015

Down $473,618 (-3.2%) from 2021

Net Income

Down

-$92,388

Down $1,363,387 (-107%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

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

$20M$15M$10M$5.0M$0Assets 2010: $10,127,719Liabilities 2010: $1,120,206Net Assets 2010: $9,007,5132010Assets 2011: $10,848,747Liabilities 2011: $1,110,534Net Assets 2011: $9,738,2132011Assets 2012: $11,587,625Liabilities 2012: $1,036,375Net Assets 2012: $10,551,2502012Assets 2013: $12,415,312Liabilities 2013: $1,284,694Net Assets 2013: $11,130,6182013Assets 2014: $13,368,689Liabilities 2014: $1,318,824Net Assets 2014: $12,049,8652014Assets 2015: $13,575,617Liabilities 2015: $1,419,596Net Assets 2015: $12,156,0212015Assets 2016: $13,387,735Liabilities 2016: $1,909,365Net Assets 2016: $11,478,3702016Assets 2017: $12,888,690Liabilities 2017: $1,140,731Net Assets 2017: $11,747,9592017Assets 2018: $13,782,686Liabilities 2018: $3,560,570Net Assets 2018: $10,222,1162018Assets 2019: $12,820,835Liabilities 2019: $1,323,774Net Assets 2019: $11,497,0612019Assets 2020: $13,411,219Liabilities 2020: $3,130,840Net Assets 2020: $10,280,3792020Assets 2021: $18,256,017Liabilities 2021: $6,290,859Net Assets 2021: $11,965,1582021Assets 2022: $12,175,098Liabilities 2022: $31,269Net Assets 2022: $12,143,8292022Assets 2023: $12,418,078Liabilities 2023: $113,016Net Assets 2023: $12,305,0622023Assets 2024: $10,762,526Liabilities 2024: $1,795,089Net Assets 2024: $8,967,4372024Assets 2025: $9,353,254Liabilities 2025: $1,359,223Net Assets 2025: $7,994,0312025

Highlighted filing

2022

Assets$12,175,098
Liabilities$31,269
Net Assets$12,143,829
Open 2022 Filing

Operations Trend

Revenue Growth25th percentile

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

$20M$10M$0-$10MExpenses 2010: $15,711,0502010Expenses 2011: $16,740,6612011Expenses 2012: $16,223,2342012Expenses 2013: $16,821,6102013Revenue 2014: $18,288,568Expenses 2014: $17,482,072Net Income 2014: $806,4962014Revenue 2015: $18,920,714Expenses 2015: $18,636,562Net Income 2015: $284,1522015Revenue 2016: $18,347,972Expenses 2016: $18,940,996Net Income 2016: -$593,0242016Revenue 2017: $18,378,071Expenses 2017: $18,108,482Net Income 2017: $269,5892017Revenue 2018: $15,836,970Expenses 2018: $16,562,813Net Income 2018: -$725,8432018Revenue 2019: $16,811,335Expenses 2019: $15,675,145Net Income 2019: $1,136,1902019Revenue 2020: $14,714,298Expenses 2020: $15,992,996Net Income 2020: -$1,278,6982020Revenue 2021: $16,116,632Expenses 2021: $14,845,633Net Income 2021: $1,270,9992021Revenue 2022: $14,279,627Expenses 2022: $14,372,015Net Income 2022: -$92,3882022Revenue 2023: $14,025,803Expenses 2023: $13,835,202Net Income 2023: $190,6012023Revenue 2024: $13,596,141Expenses 2024: $14,896,262Net Income 2024: -$1,300,1212024Revenue 2025: $14,504,489Expenses 2025: $15,465,397Net Income 2025: -$960,9082025

Highlighted filing

2022

Revenue$14,279,627
Expenses$14,372,015
Net Income-$92,388
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2023
Return Version
2021v4.1
Gross Receipts
$14,279,627
Mission and Program Overview

Mission

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$6,701,773$6,077,948▼ $623,825
Cash and Non-Interest-Bearing Accounts$9,624,261$3,627,689▼ $5,996,572
Land, Buildings, and Equipment, Net$1,479,763$1,364,680▼ $115,083
Accounts Receivable-$632,125-
Prepaid Expenses and Deferred Charges$150,428$369,667▲ $219,239
Inventories for Sale or Use$65,047$93,469▲ $28,422
Savings and Temporary Cash Investments$234,745$9,519▼ $225,226
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Total Assets$18,256,017$12,175,098▼ $6,080,919
Other Assets Total-$1-
Liabilities
Other Liabilities$173,495--
Accounts Payable and Accrued Expenses$6,117,364$31,269▼ $6,086,095
Total Liabilities$6,290,859$31,269▼ $6,259,590
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$11,965,158$12,143,829▲ $178,671
Total Net Assets Fund Balance$11,965,158$12,143,829▲ $178,671
Total Liabilities and Net Assets / Fund Balance$18,256,017$12,175,098▼ $6,080,919

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,543,046-$1,543,046
Other Land Buildings$-178,366$178,366-
Compensation and Service Providers
Top Officer Pay41st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Matthew JonesCEOFT$145,610$7,750$153,360
Chuck AlmasyCOOFT$139,362$11,405$150,767
Martha J RomeroDirector of BehaviFT$121,824$9,325$131,149
Renee BehrendtFinance DirectorFT$70,732$306$71,038

Board Members and Trustees

NameTitle
Travers GeeChairman
Brenda DutyVice Chair
Gina BastianBoard Member
Kelly ClouserBoard Member
Micheal AshmoreBoard Member
Faith MeyersSecretary
Wallace JenkinsTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Denali Services of Alaska LLCSnow Removal ServicesPO Box 212846, Anchorage, AK 99521$146,221
Revenue and Support

Revenue Composition

Contributions and Grants
$223,004
Program Service Revenue
$13,731,212
Investment Income
$0
Other Revenue
$325,411
All Other Contributions
$4,160
Change in Net Assets
$-92,388

Audited Revenue Reconciliation

Revenue per Audited Statements
$14,279,627
Revenue Not Reported on Form 990
$-337,457
Total Revenue per Audited Statements
$13,942,170
Total Revenue per Form 990
$14,279,627
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$11,223,124
Other Expenses$3,148,848
Grants and Similar Amounts Paid$43
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,448,561$1,523,578-$7,972,139
Other Employee Benefits$2,313,621$546,631-$2,860,252
Occupancy$339,682$80,256-$419,938
Information Technology$329,538$77,859-$407,397
Current Officers, Directors, Trustees, and Key Employees$316,059$74,674-$390,733
Fees for Services Other$228,171$53,909-$282,080
Other Expenses$135,351$31,979-$167,330
Insurance$123,883$29,270-$153,153
All Other Expenses$117,931$27,873-$145,804
Depreciation Depletion$111,036$26,234-$137,270
Travel$44,636$10,546-$55,182
Office Expenses$13,591$3,211-$16,802
Fees for Services Accounting$12,302$2,906-$15,208
Advertising$473$112-$585
Grants to Domestic Orgs$43--$43
Total Functional Expenses$11,625,338$2,746,677$0$14,372,015

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$14,372,015
Total Expenses per Audited Statements$14,372,015
Total Expenses per Form 990$14,372,015
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

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
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
Yes
Other officer compensation reviewed
Yes
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, Line 11B: Form 990 Review Process

“The finance director reconciles the numbers on the form 990 to the audited financial statements and reviews the narrative for accuracy.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“When an item comes before the board of directors in which a director, a member of a director's immediate family, the director's employer, and/or any organization with which the director is associated has a direct private or business interest, the affected director shall so state and shall refrain from voting and participating in the board of director's discussion on the matter. The director's abstention from voting and the stated reason shall be recorded in the minutes. A director who knowingly fails to state a conflict of interest and fails to abstain from voting shall be subject to removal from the board in accordance with the provisions of the conflict of interest policy. A director unsure of a conflict of interest may state his or her apparent conflict and ask for a discussion and a vote on the question of the conflict by the other members of the board of directors. If the vote is unanimous, the director may proceed to participate in the discussion and vote on the matter in question.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“Assets utilizes a 360 degree evaluation of employees and peers, reviews strategic plan objective accomplishments, and utilizes a compensation plan developed by a consultant and based on state and national benchmarks. Compensation levels were evaluated for all positions within the company utilizing these tools. The executive Director's compensation was last evaluated in 2014. In 2008 assets hired a compensation consultant to review all job descriptions and create a pay range structure based on job description and market survey data. All employees are compensated within the range which was established for their position. The executive director determines compensation for key employees within the ranges based on performance and company budget. The executive director consults with the HR director (performance) and the finance director (budget) to help decide the appropriateness of increases . The most recent reviews and changes in compensation based on merit were in 2014.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“Assets utilizes a 360 degree evaluation of employees and peers, reviews strategic plan objective accomplishments, and utilizes a compensation plan developed by a consultant and based on state and national benchmarks. Compensation levels were evaluated for all positions within the company utilizing these tools. The executive Director's compensation was last evaluated in 2014. In 2008 assets hired a compensation consultant to review all job descriptions and create a pay range structure based on job description and market survey data. All employees are compensated within the range which was established for their position. The executive director determines compensation for key employees within the ranges based on performance and company budget. The executive director consults with the HR director (performance) and the finance director (budget) to help decide the appropriateness of increases . The most recent reviews and changes in compensation based on merit were in 2014.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The organization makes its governing documents available upon request.”

Filing and Contact Details

Filer

Filer Name
Assets Inc
EIN
92-0076696
Phone
9073348622
Address
2330 Nichols St, Anchorage, AK 99508

Signing Officer

Name
Renee Behrendt
Title
Finance Director
Signed
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matthew Jones
Formed
1980
Legal Domicile
Ak
Voting Board Members
7
Independent Board Members
7
Employees
371
Volunteers
7

Preparer

Firm
Altman Rogers & Co
Address
3000 C ST STE 201, ANCHORAGE, AK 99503
Preparer
Ryan T Johns CPA
Phone
9072742992
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 3: Explain Why No Required Audit

“As of the date this return was filed, the organization has scheduled but not completed the audit of its financial statements.”

Financial Statement Notes

Part X : FIN48 Footnote

“Assets, Inc. is a nonprofit corporation exempt from income taxation under Section 501(c)(3) of the Internal Revenue Code. Although the Organization is exempt from federal income taxes, any income derived from unrelated business activities is subject to the requirement of filing Federal Income Tax Form 990-T and a tax liability may be determined on these activities. The Organization had no income derived from unrelated business activities as of June 30, 2022 or 2021.The organization believes it is in compliance with all applicable laws; however upon audit by a taxing authority, if amounts are found due, the company may be liable for such taxes. Management has analyzed the companys tax positions taken on Federal income tax returns for all open tax years and has concluded that, as of June 30, 2022, no liabilities are required to be recorded in connection with such tax positions in the organizations financial statements. The fiscal 2019 through 2021 tax years remain open for examination by the taxing authorities. The organization is not under examination by the internal revenue service for any open tax years.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt5Treasurer
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IRS990/MissionDesc0Assets, 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.
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IRS990/OtherExpensesGrp/Desc3Repairs and Maintenance
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt182193
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt250661
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt331979
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IRS990/OtherExpensesGrp/ProgramServicesAmt1347883
IRS990/OtherExpensesGrp/ProgramServicesAmt2214422
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IRS990/OtherExpensesGrp/TotalAmt1430076
IRS990/OtherExpensesGrp/TotalAmt2265083
IRS990/OtherExpensesGrp/TotalAmt3167330
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IRS990/OtherRevenueTotalAmt0160908
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0150428
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0369667
IRS990/PrincipalOfficerNm0Matthew Jones
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt15206621
IRS990/ProgSrvcAccomActy2Grp/Desc0Supported Living Services - skill building, coaching, and resource coordination to assist individuals to live in their own homes.
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IRS990/ProgSrvcAccomActy2Grp/GrantAmt043
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt04013184
IRS990/ProgSrvcAccomActy3Grp/Desc0Supported Employment - assists individuals to obtain and retain employment within local businesses. Currently works with over 40 local employers.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0696727
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt0499928
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Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$12,175,098
Liabilities
$31,269
Net assets
$12,143,829
Revenue
$14,279,627
Expenses
$14,372,015
Net income
-$92,388
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$9.35$1.36$7.99$14.5$15.5$0.96
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.8$1.80$8.97$13.6$14.9$1.30
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.4$0.11$12.3$14.0$13.8$0.19
2022Detailed filing. Detailed filing data is available for this year.$12.2$0.03$12.1$14.3$14.4$0.09
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.3$6.29$12.0$16.1$14.8$1.27
2020Detailed filing. Detailed filing data is available for this year.$13.4$3.13$10.3$14.7$16.0$1.28
2019Detailed filing. Detailed filing data is available for this year.$12.8$1.32$11.5$16.8$15.7$1.14
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.8$3.56$10.2$15.8$16.6$0.73
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.9$1.14$11.7$18.4$18.1$0.27
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.4$1.91$11.5$18.3$18.9$0.59
2015Detailed filing. Detailed filing data is available for this year.$13.6$1.42$12.2$18.9$18.6$0.28
2014Detailed filing. Detailed filing data is available for this year.$13.4$1.32$12.0$18.3$17.5$0.81
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.4$1.28$11.1$16.8
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.6$1.04$10.6$16.2
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.8$1.11$9.74$16.7
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.1$1.12$9.01$15.7