Asset Inc
- Assets
- $435.8k
- Revenue
- $596.0k
- Investments
- $0.0
- Employees
- 4
- Location
- Pittsburgh, PA
- Founding
- 01/1995
- Data as of
- 06/2023
- EIN
- 25-1742923
Organization Overview
Asset Inc is located in Pittsburgh, PA. The organization was established in 1995. According to its NTEE Classification (B19) the organization is classified as: Support N.E.C., under the broad grouping of Education and related organizations. As of 06/2023, Asset Inc employed 4 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Asset Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Asset Inc generated $596.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (19.2%) each year. All expenses for the organization totaled $600.6k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (21.9%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSET IS A NATIONAL EDUCATION IMPROVEMENT NONPROFIT WITH THE MISSION TO ADVANCE TEACHING AND LEARNING TO ENGAGE, INSPIRE, AND EMPOWER ALL LEARNERS. ASSET 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; HANDS-ON LEARNING EXPERIENCES FOR ALL STUDENTS - PRE-K THROUGH CAREER, IN AND OUT-OF-SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Ted Frick President | OfficerTrustee | 2 | $0 |
Roberta Ryan Vice President | OfficerTrustee | 2 | $0 |
Jason Maxwell Treasurer | OfficerTrustee | 2 | $0 |
Dr Jack Burgman Director | Trustee | 1 | $0 |
Thomas Faber Director | Trustee | 1 | $0 |
Leigh Pogue Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $275,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $315,570 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $590,570 |
| Total Program Service Revenue | $5,000 |
| Investment income | $442 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $596,012 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $103,394 |
| Compensation of current officers, directors, key employees. | $10,339 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $163,529 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $34,806 |
| Payroll taxes | $22,565 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,105 |
| Fees for services: Accounting | $37,032 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $189,257 |
| Advertising and promotion | $0 |
| Office expenses | $6,472 |
| Information technology | $13,082 |
| Royalties | $0 |
| Occupancy | $6,600 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,499 |
| Insurance | $10,724 |
| All other expenses | $1,842 |
| Total functional expenses | $600,601 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $332,450 |
| Savings and temporary cash investments | $71,015 |
| Pledges and grants receivable | $17,630 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,029 |
| Net Land, buildings, and equipment | $5,247 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,450 |
| Total assets | $435,821 |
| Accounts payable and accrued expenses | $25,358 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $25,358 |
| Net assets without donor restrictions | $65,637 |
| Net assets with donor restrictions | $344,826 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $435,821 |