Overview
What is Asset Systems Inc?
Asset Systems Inc, a not-for-profit corporation headquartered as a cooperative, specializes in collection services exclusively for cooperative hospital service organizations. This organization, named Asset Systems Incorporation (ASI), is uniquely dedicated to serving the needs of not-for-profit hospitals. By requiring exclusivity of placement, they ensure a narrow yet focused approach within the cooperative. In essence, Asset Systems Inc provides essential collection services to support the operations of cooperative hospital service organizations.
Official website here: www.assetcollect.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 0 Stars (48% score)
Asset Systems Inc has received a low rating of 48%, resulting in a Zero-Star out of Four Star rating. This score reflects significant concerns regarding the organization’s accountability and financial practices, particularly the absence of independent board members and multiple missing policies, such as those for conflict of interest and whistleblowing.
Despite these governance issues, the organization does demonstrate a strong commitment to its program expenses, achieving a program expense ratio of 93.29%. This indicates that a large portion of their spending is directed towards their programs rather than administrative costs. Additionally, they have effectively managed the material diversion of assets, receiving full points in this regard.
However, the lack of transparency, highlighted by missing financial documentation on their website and a high liabilities to assets ratio of 311.57%, raises red flags for potential donors. Overall, while Asset Systems Inc shows some strengths in program spending, the organizational governance and financial management issues noted in the rating are significant limitations.
This AI summary has been generated from information found on Charity Navigator.
Is Asset Systems Inc legitimate?
Asset Systems Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Asset Systems Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $29,672
For more financial information, click here
Official website here: www.assetcollect.com
What is the mission statement of Asset Systems Inc?
Asset Systems Inc, a not-for-profit corporation, primarily focuses on providing collection services for cooperative hospital service organizations. Their mission is centered around this specific role, ensuring efficient and effective debt recovery for the cooperative hospitals they partner with. Established as a cooperative, Asset Systems Inc requires exclusivity in placements to participate in this collaborative effort.
Official website here: www.assetcollect.com
Who is the CEO of Asset Systems Inc?
Michael G Schindler is the President of Asset Systems Inc.
Official website here: www.assetcollect.com
What is the revenue of Asset Systems Inc?
Asset Systems Inc's revenue in 2022 was $7,290.
Official website here: www.assetcollect.com
Who are the executives of Asset Systems Inc and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.assetcollect.com
Where can I find the form 990 for Asset Systems Inc?
Asset Systems Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.assetcollect.com
Learn more at the official website: www.assetcollect.com
Mission Statement of Asset Systems Inc
Asset Systems Inc, a not-for-profit cooperative corporation, is dedicated to providing collection services exclusively for cooperative hospital service organizations. This organization's mission is centered around supporting the financial well-being of these hospitals by managing their debt collection processes. By requiring exclusivity of placement to participate in the cooperative, Asset Systems Inc ensures a focused and specialized approach to each hospital's collection needs, ultimately contributing to the overall financial stability of the cooperative hospital service organizations.
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Impact
August, 2024
Asset Systems Inc's impact lies in its crucial role in providing collection services for cooperative hospital service organizations. By specializing in collections for not-for-profit hospitals, Asset Systems Inc contributes to the financial health and stability of these essential healthcare providers. Through its cooperative structure and dedication to exclusivity of placement, Asset Systems Inc helps ensure that hospitals receive the necessary support to manage their finances effectively. Ultimately, Asset Systems Inc plays a vital role in supporting the mission of not-for-profit hospitals to provide quality healthcare services to communities in need.
This information is meant to be a general summary of Asset Systems Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $6
- Program Service Revenue: $7,284
- Gross Receipts: $7,290
Assets and Liabilities:
- Total Assets: $103,524
- Total Liabilities: $322,554
- Net Assets: -$219,030
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
COURT COST
Revenue
$7,195
COLLECTION INCOME
Revenue
$50
COMMISSION INCOME
Revenue
$39
Organization Details
Founding Year
1987
Phone
(503) 230-9522Principal Officer
Michael G Schindler
Main Address
PO BOX 14949, PORTLAND, OR, 972930949
Website
www.assetcollect.comNTEE Category
Code: E22B - Health
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