Asset Systems INC: FY2021 Nonprofit Profile & Form 990 (EIN 93-0959411)

Revenue by fiscal year
FY2020	$2.5M
FY2021	$28K
FY2022	$7K
FY2023	$769

Expenses by fiscal year
FY2020	$2.5M
FY2021	$253K
FY2022	$110K
FY2023	$0

Net assets by fiscal year
FY2020	$109K
FY2021	−$116K
FY2022	−$219K
FY2023	$0

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

87 cents of each dollar spent went to programs.

87%

13%

Program services 87% · $220K Management & general 13% · $33K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

2 people listed on the 990.

Part VII, Section A · reportable compensation

Sarah Jensen

President

$0Pt VII · Sec A

Gene Bacon

President

$0Pt VII · Sec A

See Asset Systems INC executive salaries →

On this list? Claim this org

Something off? Claim to add context

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Collects payments for hospital service organizations.

Questions for Asset Systems INC

Tap to ask. Asset Systems INC sees how many people are interested.

Your first name shows with your question. Asset Systems INC answers here, for everyone.

Provided by the organization

Know this org? Add your story

1 program · $220K · in their own filed words · FY2021

01

Collection service provided to hospitals.

$220Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record

Grants received · FY2020

Louis G Clarke and Elizabeth L Clarke EndowmentFY2020$14K

Total grants receivedfrom 1 funder$14K

By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$28K

Ln 12

Fees for servicesLn 2g$28K

Investment incomeLn 3$7

Money outPt IX

$253K

Ln 25

Programscol B$220K

Managementcol C$33K

Owns and owesPt X

−$116K

net assets · Ln 32

Cash and savingsLn 1–2$13K

Total assetsLn 16$104K

LiabilitiesLn 26$220K

PeoplePt VI, VII

2

listed · VII A

PaidVII A0

Voting boardVI 1a2

IndependentVI 1b0

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$28K

Investment incomeLn 3$7

Total revenueLn 12$28K

Assets in detailPt X, end of year

CashLn 1$13K

Cash and savings togetherLn 1–2$13K

Other assetsLn 15$91K

Total assetsLn 16$104K

LiabilitiesLn 26$220K

Net assetsLn 32−$116K

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aNo

Whistleblower policyVI 13No

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$74K	$13K
Total assetsLn 16	$165K	$104K
LiabilitiesLn 26	$56K	$220K
Net assetsLn 32	$109K	−$116K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Other salaries and wagesLn 7	$52K	$52K
Legal feesLn 11b	$107K	$101K	$7K
Office expensesLn 13	$4K		$4K
OccupancyLn 16	$20K		$20K
TravelLn 17	$204		$204
InsuranceLn 23	$20K	$20K
Other expenses (24a–d)Ln 24	$42K	$42K
All other expensesLn 24e	$7K	$6K	$1K
Total functional expensesLn 25	$253K	$220K	$33K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2023 Latest	$769	$0	$769	$0	990 PDF
FY2022	$7K	$110K	−$103K	−$219K	990 PDF
FY2021 Viewing	$28K	$253K	−$225K	−$116K	990 PDF
FY2020	$2.5M	$2.5M	−$91K	$109K	990 PDF

More to add? Claim this org

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations

See the full FY2021 990 (6 parts)

Part I · Summary $27,824 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $2,451,501$27,817

I-10 Investment incomePrior year $441$7

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $2,451,942$27,824

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $520,063$52,000

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $2,022,892$200,829

I-18 Total expensesPrior year $2,542,955$252,829

I-19 Revenue less expensesPrior year −$91,013−$225,005

Part VI · Governance 0 of 2 board members independent, 3 to look at

VI-1a Voting members of the governing body2

VI-1b Independent voting members0

VI-12a Written conflict of interest policyNo

VI-13 Written whistleblower policyNo

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $27,824 across 3 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $27,817$27,817

VIII-3 Investment incomeRelated to mission $7$7

VIII-12 Total revenueRelated to mission $27,824 · Unrelated business $0 · Excluded from tax $0$27,824

Part IX · Statement of functional expenses $252,829 across 8 lines filed

IX-7 Other salaries and wagesPrograms $52,000$52,000

IX-11b Legal feesPrograms $100,874 · Management $6,610$107,484

IX-13 Office expensesManagement $4,323$4,323

IX-16 OccupancyManagement $20,220$20,220

IX-17 TravelManagement $204$204

IX-23 InsurancePrograms $19,702$19,702

IX-24 Other expenses (24a–d)Programs $41,647$41,647

IX-24e All other expensesPrograms $5,972 · Management $1,277$7,249

IX-25 Total functional expensesPrograms $220,195 · Management $32,634 · Fundraising $0$252,829

Part X · Balance sheet $104,278 assets, 7 lines filed

X-1 Cash, non-interest-bearingStart of year $74,038$13,266

X-15 Other assetsStart of year $91,012$91,012

X-16 Total assetsStart of year $165,050$104,278

X-17 Accounts payable and accrued expensesStart of year $56,011$220,244

X-26 Total liabilitiesStart of year $56,011$220,244

X-32 Total net assets or fund balancesStart of year $109,039−$115,966

X-33 Total liabilities and net assetsStart of year $165,050$104,278

Part XI · Reconciliation of net assets −$115,966 net assets at year end

XI-1 Total revenue$27,824

XI-2 Total expenses$252,829

XI-3 Revenue less expenses−$225,005

XI-4 Net assets at start of year$109,039

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year−$115,966

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

Your org? Add context

Made it to the end? Claim this org

Asset Systems INC FY2021 filing

Before you give