2025-11-10T18:23:31-08:00 2024-06-30 920143182 ALTMAN ROGERS & CO 3000 C ST STE 201 ANCHORAGE AK 99503 990 2023-07-01 920076696 Assets Inc ASSE 9073348622 2330 Nichols St Anchorage AK 99508 Amber Campbell Finance Director 2025-11-10 true true Sterling Gillon CPA P02428406 9072742992 2023 2025-03-06 01:10:19Z X Matthew Jones 2330 Nichols St Anchorage AK 99508 17984289 false X www.assetsinc.org X 1980 AK Assets, Inc. (the Organization) is a not-for-profit corporation organized for the purpose of providing services that promote the independence of Anchorage area individuals who, due to the nature and severity of their disabilities, need support to live and work in the community. The company provides vocational training, supported living, and employment services conductive to this purpose, including assessment, community employment, and ongoing support services. 7 7 361 7 0 54249 95423 13813829 12552113 204868 157725 591005 14025803 13443409 0 0 10739276 11957705 0 0 3095926 2760764 13835202 14718469 190601 -1275060 12418078 10662988 113016 1670487 12305062 8992501 X Assets, Inc. (the Organization) is a not-for-profit corporation organized for the purpose of providing services that promote the independence of Anchorage area individuals who, due to the nature and severity of their disabilities, need support to live and work in the community. The company provides vocational training, supported living, and employment services conductive to this purpose, including assessment, community employment, and ongoing support services. false true 6886332 7289518 Contract Services - Assets has achieved the employment of approximately 150 individuals with cognitive or intellectual disabilities by directly employing persons with disabilities to provide the operations of several federal, state, and private contracts the organization operates within the community. 4480411 5853600 Supported Employment - assists individuals to obtain and retain employment within local businesses. Currently works with over 40 local employers.Supported Living Services - skill building, coaching, and resource coordination to assist individuals to live in their own homes. 11366743 true true false false false false false false false false true false false false true true true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 22 0 true 361 true false false false false false false false 0 false false false false false false false false false false X 7 7 false false false false false false false true true false false false true false true true true true true false X Amber Campbell 9073348686 2330 Nichols St Anchorage AK 99508 Matthew Jones CEO 40.00 0.00 X 148532 0 0 Chuck Almasy COO 40.00 0.00 X 133961 0 0 Martha J Romero Director of Behavi 40.00 0.00 132555 0 0 Renee Behrendt Finance Dir 40.00 0.00 X 79110 0 0 Amber Campbell Finance Dir 40.00 0.00 X 71882 0 0 Travers Gee Chairman 2.00 0.00 X X 0 0 0 Brenda Duty Vice Chair 2.00 0.00 X X 0 0 0 Faith Myers Secretary 2.00 0.00 X X 0 0 0 Michael Ashmore Board Member 1.00 0.00 X 0 0 0 Kelley Clouser Board Member 1.00 0.00 X 0 0 0 Wallace Jenkins Treasurer 1.00 0.00 X X 0 0 0 Lisa Pinkston Board Member 1.00 0.00 X 0 0 0 566040 3 false false false Denali Services of Alaska LLC PO Box 212846 Anchorage AK 99521 Snow Removal Services 159106 1 76679 18744 95423 Assisted Living 623990 124223 124223 Enclave Contracts 721000 7289518 7289518 Home and Comm. Service 621400 1889661 1889661 Mental Health Medicaid 623000 2637842 2637842 Printing 323100 610869 610869 12552113 376120 376120 0 0 0 4369628 4540880 -171252 -171252 -171252 0 0 0 Other Revenue 900099 591005 591005 591005 13443409 13143118 204868 0 0 0 0 482285 376182 106103 0 8524065 6648771 1875294 54728 42688 12040 2213171 1726274 486897 683456 533095 150361 0 0 0 0 0 38155 38155 666800 520104 146696 695 542 153 0 328625 256327 72298 0 278186 216985 61201 106164 82808 23356 0 0 0 0 114040 88951 25089 221747 221747 Foster Care 404831 404831 Supplies 250605 195471 55134 Utilities 230442 179745 50697 Dues and Fees 34235 26703 7532 86239 67266 18973 14718469 11366743 3351726 0 3082929 1296296 82357 304261 5255 1435549 1868327 0 0 0 109928 98598 343398 50554 1866673 997986 1331220 868687 6032697 5870673 0 0 0 300337 12418078 10662988 113016 1543817 126670 113016 1670487 X 12305062 8992501 12305062 8992501 12418078 10662988 -1275060 219560 -2257061 X false true X true true false X 24990 769905 223004 54249 95423 1167571 14343311 14591637 13731212 13813829 12552113 69032102 0 0 0 14368301 15361542 13954216 13868078 12647536 70199673 0 0 70199673 296840 545971 376120 1218931 0 296840 545971 376120 1218931 0 49157 76004 160908 157725 591005 1034799 14714298 15983517 14115124 14025803 13614661 72453403 0.96890 0.97700 0.01680 0.01650 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 179765 179765 704722 164863 539859 908801 759738 149063 73385 73385 868687 126670 126670 X 13624814 219560 219560 13405254 38155 38155 13443409 14680314 14680314 38155 38155 14718469 Part X : FIN48 Footnote Assets, Inc. is a nonprofit corporation exempt from income taxation under Section 501(c)(3) of the Internal Revenue Code.Although the Organization is exempt from federal income taxes, any income derived from unrelated business activities is subject to the requirement of filing Federal Income Tax Form 990-T and a tax liability may be determined on these activities. The Organization had no income derived from unrelated business activities as of June 30, 2024.The organization believes it is in compliance with all applicable laws; however upon audit by a taxing authority, if amounts are found due, the company may be liable for such taxes. Management has analyzed the companys tax positions taken on federal income tax returns for all open tax years and has concluded that, as of June 30, 2024, no liabilities are required to be recorded in connection with such tax positions in the organizations financial statements. The fiscal 2021 through 2024 tax years remain open for examination by the taxing authorities. The organization is not under examination by the internal revenue service for any open tax years. Form 990, Part III, Line 3 For the purposes of tax reporting the supported employement and supported living programs were consolidated to reflect the audited financial statement reporting. Form 990, Part VI, Section B, Line 11b The finance director reconciles the numbers on the form 990 to the audited financial statements and reviews the narrative for accuracy. Form 990, Part VI, Section B, Line 12c When an item comes before the board of directors in which a director, a member of a director's immediate family, the director's employer, and/or any organization with which the director is associated has a direct private or business interest, the affected director shall so state and shall refrain from voting and participating in the board of director's discussion on the matter. The director's abstention from voting and the stated reason shall be recorded in the minutes. A director who knowingly fails to state a conflict of interest and fails to abstain from voting shall be subject to removal from the board in accordance with the provisions of the conflict of interest policy. A director unsure of a conflict of interest may state his or her apparent conflict and ask for a discussion and a vote on the question of the conflict by the other members of the board of directors. If the vote is unanimous, the director may proceed to participate in the discussion and vote on the matter in question. Form 990, Part VI, Section B, Line 15a Assets utilizes a 360 degree evaluation of employees and peers, reviews strategic plan objective accomplishments, and utilizes a compensation plan developed by a consultant and based on state and national benchmarks. Compensation levels were evaluated for all positions within the company utilizing these tools. The executive Director's compensation was last evaluated in 2014. In 2008 assets hired a compensation consultant to review all job descriptions and create a pay range structure based on job description and market survey data. All employees are compensated within the range which was established for their position. The executive director determines compensation for key employees within the ranges based on performance and company budget. The executive director consults with the HR director (performance) and the finance director (budget) to help decide the appropriateness of increases . The most recent reviews and changes in compensation based on merit were in 2014. Form 990, Part VI, Section B, Line 15b Assets utilizes a 360 degree evaluation of employees and peers, reviews strategic plan objective accomplishments, and utilizes a compensation plan developed by a consultant and based on state and national benchmarks. Compensation levels were evaluated for all positions within the company utilizing these tools. The executive Director's compensation was last evaluated in 2014. In 2008 assets hired a compensation consultant to review all job descriptions and create a pay range structure based on job description and market survey data. All employees are compensated within the range which was established for their position. The executive director determines compensation for key employees within the ranges based on performance and company budget. The executive director consults with the HR director (performance) and the finance director (budget) to help decide the appropriateness of increases . The most recent reviews and changes in compensation based on merit were in 2014. Form 990, Part VI, Section C, Line 19 The organization makes its governing documents available upon request. Amended Explanation At the time the 2023 tax return was filed, the organization had not completed its financial statement audit for the year ending 6/30/2024. As a result of these financial statement audits, cummulative net assets were adjusted by $2,257,062.To bring the 2023 return in agreement with the audited financials the followings were adjusted. Part ILine 8 decreased from 119,777 to 95,423.Line 9 decreased from 13,242,840 to 12,552,113.Line 10 increased from 115,561 to 204,868.Line 11 increased from 117,963 to 591,005.Line 12 decreased from 13,596,141 to 13,443,409.Line 15 increased from 11,707,920 to 11,957,705.Line 17 decreased from 3,188,342 to 2,760,764.Line 18 decreased from 14,896,262 to 17,718,469.Line 19 increased from -1,300,121 to -1,275,060.Line 20 decreased from 10,762,526 to 10,662,988.Line 21 decreased from 1,795,089 to 1,670,487.Line 22 increased from 8,967,437 to 8,992,501.Part II signer changed from Ryan Johns to Sterling GillonPart IIIUpdated program accomplishments to reflect audited financial totals. Part IVLines 11a, 11e, 11f, and 12a changed from No to Yes.Part VIIILine 1e decreased from 119,777 to 76,679.Line 1f increased from 0 to 18,744.Line 2 added two new categories of program service revenue, Mental Health Medicaid, and Printing and decreased total line 2g program revenues from 13,242,840 to 12,552,113.Line 3 increased from 286,813 to 376,120.Line 11a and 11e increased from 117,963 to 591,005.Line 12 total revenue decreased from 13,596,141 to 13,443,409.Part IXFunctional prepared to bring into agreement with audited financial statements. Line 25a total expense decreased from 14,896,262 to 14,718,469, Line 25b program expense decreased from 11,988,660 to 11,366,743 and line 25 c management expense increased from 2,907,602 to 3,351,726.Part XLine 1 Increased Cash-non-interest bearing from $1,295,396 to $1,296,296.Line 2 Increased Savings from $93,361 to $304,261 .Line 3 Added $5,255 to grants receivable.Line 4 Increased accounts receivable from $1,872,607 to $1,868,327.Line 8 Decreased inventories from $215,379 to $98,598.Line 9 Increased prepaid expenses from $28,289 to $50,554.Line 10a Increased fixed assets from 1,812,749 to 1,866,673.Line 10b Increased accumulated deprecation from 990,024 to 997,986.Line 11 Decreased Publicly traded securities from $6,434,769 to $5,870,673.Line 15 added $300,337 to other assets.Line 16 Decreased total assets from 10,762,526 to 10,662,988.Line 17 Increased AP from $1,428,476 to $1,543,817.Line 19 Decreased Deferred revenue from $199,784 to $0.Line 24 Decreased Unsecured Notes and loans payable from $166,829 to $0.Line 25 Added $126,670 to Other liabilities.Line 26 Decreased Total Liabilites from 1,795,089 to 1,670,487.Lines 27 and 32 Increased Unrestricted net assets from $8,967,437 to $8,992,501.Line 33 Decreased total liabilities and equity from 10,762,526 to 10,662,988.Part XI Line 1 total revenue decreased from 13,596,141 to 13,443,409.Line 2 total expense decreased from 14,896,262 to 14,718,469.Line 3 revenue less expense increased from -1,300,121 to -1,275,060.Line 5 net unrealized gains increased from 219,558 to 219,560.Line 8 added prior period adjustment of -2,257,061 to bring net assets into agreement with the audited financial statements. Part XIIRemoved memo explaining why the organization did not have an audit performed at the time of filing. Schedule APart III updated to reflect revised income figures.Schedule BDepartment of Health and Social Services contribution decreased from 102,288 to 76,679Schedule DPart VI allocated fixed asset cost basis and accumulated depreciation between Land, Buildings, Equipment, and Other.Added parts XI and XII reconciliations to audited financial statements.Added part X memo for FASB ASC 740 footnote. Form 990 Part XI line 8 At the time the 2023 tax return was filed, the organization had fallen behind on multiple years of audits. The 2023 return recorded a 2,257,061 prior period adjustment to account for multiple years of adjusted balances and bring ending equity to reflect the organization's ending balance on June 30th, 2024.