Ase Education Foundation

Analysis

Ase Education Foundation is a registered charity in United States, based in Leesburg, VA. It received its IRS tax-exemption ruling in May 1978, 48 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Ase Education Foundation reported income of $2.2m and spending of $2.8m, spending 127% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.3m to $2.2m (-2.7%), an average of -0.7% a year. The sharpest change came in the year to December 2020, when income dropped by 34%. Over the whole period it spent 110% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Ase Education Foundation sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within VA. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($2.2m), Clean Energy Economy for the Region ($2.2m) and Meals on Wheels of Northeastern Pa Inc ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 58% and program service revenue 41% of the total. Compensation of current officers, directors and key employees was $307k (11% of expenses). Other salaries and wages came to $573k. At year end it held assets of $2.2m against liabilities of $470k, net assets of $1.8m. It reported 10 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.