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Asac Foundation EIN 85-0463051

Asac Foundation

EIN  85-0463051 Public charity (501(c)(3)) N Chesterfld, VA
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Size
<$100K
What they do
Provides charitable, educational, and literary services.
Leadership
Stephen Andrews · Director
Money in and out
$39K revenue, $50K expenses
Bottom line
73% program efficiency

Provides charitable, educational, and literary services. For fiscal year 2024 it reported $39K in revenue, $50K in expenses, and $1.5M in net assets.Pt I

Where the money goes · FY2024
Total revenue
$39K
Pt VIII · Ln 12
Total expenses
$50K
Pt IX · Ln 25
Net assets
$1.5M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$12K
Where spending went · Part IX cols B–D
Program services $0.73 Management & general $0.27
Program efficiency
73%
of spending reaches programs▲ +8% vs prior filing year
Operating runway
355.9mo
months of highly liquid reserves at operating expense rate▼ -33% vs prior filing year
Surplus margin
-31%
revenue over expenses, this year▼ -180% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$39K
FY2024▼ -21%
Expenses
$50K
FY2024▲ +68%
Total assets
$1.5M
FY2024▲ +13%
Total liabilities
$0
FY2024
Total revenue
$39K
Pt VIII · Ln 12
Total expenses
$50K
Pt IX · Ln 25
Net assets
$1.5M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$12K
Total assetsPt X · Ln 16$1.5M
Program-expense ratioPt IX · col B73%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47
Mission & Programs · Part III

Where the work happens

1 program service account for $37K of program spending, described in the organization's own filed words · FY2024.
01

To further the study and preservation of guns and arms

$37Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CAsac Foundation
EINHdr · item D85-0463051
Principal addressHdr · item CN Chesterfld, VA
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MVA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHuman Services (P99)
Ruling yearIRS BMFAug 2004

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Craig D Bell
President
$0Pt VII · Sec A
Allan D Cors
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Investment income$28K · 73%
Contributions & grants$11K · 27%
Investment income73%$28K
Contributions & grants27%$11K
Total revenueLn 12$39K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.73 Management & general $0.27
Program services73%$37K
Management & general27%$14K
Total functional expensesLn 25$50K

Balance Sheet

Part X · end of year
CashLn 1$42K
Total assetsLn 16$1.5M
Total liabilitiesLn 26$0
Total net assetsLn 32$1.5M
Months of cash on handcomputed10.0

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.5M · Operating expenses/yr $50K
355.9 months
Where the money goes
Program services
Program services $37K · Total expenses $50K
73%
Management & General
Management & general $14K · Total expenses $50K
27%
Fundraising
Fundraising $0 · Total expenses $50K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $17K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $11K · Total revenue $39K
27%
Government reliance
Government grants — · Total revenue $39K
—
Earned-income share
Program service revenue $0 · Total revenue $39K
0%
Investment reliance
Investment income $28K · Total revenue $39K
+73%
Program self-sufficiency
Program service revenue $0 · Total expenses $50K
0%
Growth & trend
Revenue growth (YoY)
This year $39K · Prior year $49K
-21%
Net-asset trend (YoY)
End of year $1.5M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $39K · Expenses $50K
-31%
Liabilities-to-Assets
Total liabilities — · Total assets $1.5M
—
Net-asset ratio
Net assets $1.5M · Total assets $1.5M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $1.5M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.5M
97%
People & payroll
Highest Reported Total Compensation
Individual Stephen Andrews · Reported title DIRECTOR · Highest reported compensation $0 · Total expenses $50K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $50K
—
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 73%——
Overhead ratio 27%——
Fundraising cost ratio 0%——
Revenue growth -21%——
Investment management fee ratio 1%——
Accounting fee ratio 4%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Ralph Landau FoundationFY2024$8K
Total grants receivedfrom 1 funder$8K
Grants paid · 12 grants · $107K · 2021–2024
Jeremy ReevesFY2024$10,000
American Society of Arms CollectorsGA · FY2024$10,000
Unitemized GrantFY2024$9,594
Marina ViallonFY2024$7,000
Unitemized GrantFY2023$10,229
American Society of Arms CollectorsGA · FY2023$10,000
Unitemized GrantFY2022$11,718
American Society of Arms CollectorsGA · FY2022$10,000
William King Museum of ArtVA · FY2022$7,000
Alan BoydFY2022$5,335
American Society of Arms CollectorsGA · FY2021$10,000
Unitemized GrantFY2021$5,960

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$39K revenue · viewing · ⤓ 990 PDF
FY2023$49K revenue · ⤓ 990 PDF
FY2022$34K revenue · ⤓ 990 PDF
FY2021$33K revenue · ⤓ 990 PDF
FY2020$20K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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