Asset Services Inc

Nonprofit profile at a glance

EIN
382719235
IRS 990 coverage
2009–2020
Forms available
Form 990 2020
Location
Detroit, MI, USA
Phone
3138418905
Rating confidence
Limited
Sector
Single Organization Support

Reported finances

Revenue
$31,800
Expenses
$17,426
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • JOSEPH M TASSE INTERIM (PRESIDENT/CEO (THROUGH 03/2021))
  • SEAN DE FOUR (PRESIDENT/CEO (EFF. 03/2021))

Highest reported compensation

  • JOSEPH M TASSE INTERIM (PRESIDENT/CEO (THROUGH 03/2021)): $309,600 total reported compensation
  • MICHELLE SHERMAN (TREASURER): $235,373 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Asset services leased facilities and equipment at 1700 waterman, detroit, mi to its affiliate, southwest counseling solutions.

What it reported doing in 2020

Asset services leased facilities and equipment at 1700 waterman, detroit, mi to its affiliate, southwest counseling solutions.asset services ceased conducting program services for the year ended 03/31/2021 as it merged with southwest counseling solutions.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 60
  • Accountability: 43
  • Sustainability: 42
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 33.3%; rating input score 33; 18th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 45.2%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 81.5%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: -17.9% per year; rating input score 0; 27th percentile among comparable filings
  • Revenue growth: -15.7% per year; rating input score 0; 27th percentile among comparable filings
  • Asset growth: -12.1% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 1 of 3 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $17K in reported program spending
  • Leadership: top reported pay $310K · 4 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 8 of 8 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 9 filing years from 2009 to 2020
  • Contacts: How to reach this organization
  • Related organizations: 51 filed related-organization links
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Independent voting board scored 33/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 4/100.