Asa Education Foundation Inc

Nonprofit profile at a glance

EIN
362938004
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Itasca, IL, USA
Phone
6304670000
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$1,473,135
Expenses
$1,293,329
Assets
$14,660,447
Liabilities
$178,710

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

20 people listed

Highest reported compensation

  • MICHAEL ADELIZZI (SECRETARY (NON-VOTING)): $418,369 total reported compensation
  • TAYLOR ALBANO (ASA STAFF LIAISON (NON-VOT): $181,701 total reported compensation
  • STEVE EDWARDS (RECRUITMENT MARKETING DIRECTOR): $142,963 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The asa education foundation (asaef) is a self-sustaining organization that serves the phcp/industrial pvf industries by researching the education and training needs of the industry. The asaef will develop, promote and deliver and/or facilitate programs that will satisfy those needs cost-effectively.

What it reported doing in 2024

To foster the educational development of its members, including leadership and management skills, through seminars and publications, and to promote interest in their industry among students.

Operating model

Revenue model
Investment-supported. 64% of the money available for current operations came from recurring investment income.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Fundraising costs are high for each dollar raised and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 71
  • Accountability: 95
  • Sustainability: 71
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60.4%; rating input score 60
  • Program expense ratio: 68.9%; rating input score 69
  • Fundraising efficiency: $0.26 raised per $1 spent on fundraising; rating input score 2; 2nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 12.2%; rating input score 65; 65th percentile among comparable filings
  • Total-asset coverage ratio: 11.34; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 67; 67th percentile among comparable filings
  • Officer compensation ratio: 7.2%; rating input score 46; 46th percentile among comparable filings

Growth

  • Program expense growth: -1.5% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: -9% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 1.7% per year; rating input score 100; 24th percentile among comparable filings

Details

  • Where the money goes: 60.4% of revenue deployed · 68.9% of spending went to programs
  • Governance: 18 of 18 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $891K in reported program spending
  • Leadership: top reported pay $418K · 20 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 2/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 46/100.