Asset Inc
Nonprofit profile at a glance
- EIN
- 251742923
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Pittsburgh, PA, USA
- Phone
- 4124817320
- Rating
- 72
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Nonmonetary Support N.E.C.
Reported finances
- Revenue
- $608,819
- Expenses
- $808,662
- Assets
- $241,914
- Liabilities
- $21,975
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
9 people listed
Executive titles in this filing
- TED FRICK (PRESIDENT)
Highest reported compensation
- SARAH TOULOUSE (EXECUTIVE DI): $129,000 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Asset inc, an acronym for achieving student success through excellence in teaching, was founded by industry leaders and community partners in 1994 to improve teaching and learning across science, technology, engineering, and math (stem).the organization provides educators with rigorous professional learning and coaching to increase student achievement and workforce readiness across the nation.
What it reported doing in 2024
Asset is a national education improvement nonprofit with the mission to advance teaching and learning to engage, inspire, and empower all learners. Asset provides educators with effective tools and strategies to create innovative and relevant learning environments so all students acquire the knowledge and skills needed to work, live, contribute, and lead in a global community. The organization provides highly effective professional development to educators; handson learning experiences for all students prek through career, in and outof school.
Operating model
- Revenue model
- Grant-funded. 86% of the money available for current operations came from government grants.
- 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 a large share of available resources goes toward mission work. A relatively small share of total spending goes to programs and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 68
- Transparency & Controls: 92
- Accountability: 82
- Sustainability: 14
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 78.6%; rating input score 79
- Program expense ratio: 59.2%; rating input score 59
- Fundraising efficiency: $9.63 raised per $1 spent on fundraising; rating input score 37; 37th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 4 of 7 controls in place; rating input score 57
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -32.8%; rating input score 5; 5th percentile among comparable filings
- Total-asset coverage ratio: 0.3; rating input score 14; 14th percentile among comparable filings
- Liabilities to assets ratio: 0.09; rating input score 44; 44th percentile among comparable filings
- Officer compensation ratio: 16%; rating input score 21; 21st percentile among comparable filings
Growth
- Program expense growth: -25.6% per year; rating input score 0; 2nd percentile among comparable filings
- Revenue growth: -21.4% per year; rating input score 0; 1st percentile among comparable filings
- Asset growth: -19.2% per year; rating input score 0; 2nd percentile among comparable filings
Details
- Where the money goes: 78.6% of revenue deployed · 59.2% of spending went to programs
- Governance: 7 of 7 board members independent · 4 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $478K in reported program spending
- Leadership: top reported pay $129K · 9 people listed
- Consistency: 24 of 24 current checks pass
- Schedules: 3 filed schedules · includes major donors
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- Review — Financial Efficiency: Program expense ratio scored 59/100.
- Review — Accountability: Governance controls: 3 of 7 not reported.
- Moderate — Financial Efficiency: Fundraising efficiency scored 37/100.
- High — Sustainability: Operating margin scored 5/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 14/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Officer compensation ratio scored 21/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 44/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.