Assets Inc
Nonprofit profile at a glance
- EIN
- 920076696
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Anchorage, AK, USA
- Phone
- 9073348622
- Rating
- 77
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Employment Procurement Assistance
Reported finances
- Revenue
- $14,504,489
- Expenses
- $15,465,397
- Assets
- $9,353,254
- Liabilities
- $1,359,223
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
11 people listed
Executive titles in this filing
- Matthew Jones (CEO)
Highest reported compensation
- Matthew Jones (CEO): $148,141 total reported compensation
- Chuck Almasy (COO): $133,014 total reported compensation
- Martha J Romero (Director of Behavi): $121,737 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
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.
What it reported doing in 2024
Contract Services - Assets has achieved the employment of approximately 150 individuals with cognitive or intellectual disabilities by directly employing persons with disabilities to provide the operations of several federal, state, and private contracts the organization operates within the community.
Operating model
- Revenue model
- Earned-program. 94% of the money available for current operations came from fees and other program revenue.
- 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and program spending has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 71
- Transparency & Controls: 92
- Accountability: 95
- Sustainability: 28
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 81.4%; rating input score 81
- Program expense ratio: 77.9%; rating input score 78
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd 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; 66th 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: Pass
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -6.6%; rating input score 14; 14th percentile among comparable filings
- Total-asset coverage ratio: 0.6; rating input score 20; 20th percentile among comparable filings
- Liabilities to assets ratio: 0.15; rating input score 66; 66th percentile among comparable filings
- Officer compensation ratio: 3.3%; rating input score 66; 66th percentile among comparable filings
Growth
- Program expense growth: -4.2% per year; rating input score 0; 4th percentile among comparable filings
- Revenue growth: -1.8% per year; rating input score 0; 5th percentile among comparable filings
- Asset growth: 0.3% per year; rating input score 100; 11th percentile among comparable filings
Details
- Where the money goes: 81.4% of revenue deployed · 77.9% of spending went to programs
- Governance: 7 of 7 board members independent · 8 of 9 filing controls reported
- Programs: 2 filed program accomplishments · $12M in reported program spending
- Leadership: top reported pay $148K · 11 people listed
- Highest-paid contractors: 1 contractor listed · $105K reported
- Consistency: 30 of 30 current checks pass
- Schedules: 4 filed schedules · includes major donors
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 4 filed money-flow records
- Related organizations: Filed and resolved organization relationships.
- 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.
- High — Sustainability: Operating margin scored 14/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 20/100.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.