Assets Incorporated

Analysis

Assets Incorporated is a registered charity in United States, based in Anchorage, AK. It received its IRS tax-exemption ruling in March 1982, 44 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Assets Incorporated reported income of $14.0m and spending of $13.8m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $16.8m to $14.0m (-17%), an average of -4.4% a year. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Assets Incorporated sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within AK. Charities of a similar size with the same main cause include Shift Work Forward Inc ($14.0m), Micro Enterprise Services of Oregon ($14.1m) and Northwest Youth Corps ($14.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.4% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $415k (3.0% of expenses). Other salaries and wages came to $8.0m. At year end it held assets of $12.4m against liabilities of $113k, net assets of $12.3m. It reported 351 employees.