ADULT SPECIAL EDUCATION PROGRAM INC

EIN: 510203527 501(c)(3)

Wilmington, DE

Total Revenue
$112,979
Total Expenses
$109,250
Total Assets
$6,903
Net Assets
$6,903
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1976
Legal Domicile
DE
Principal Officer
KAREN M SHUMATE
Phone
3027625783
Tax Period
2023-07-01 to 2024-06-30

ADULT SPECIAL EDUCATION PROGRAM INC, founded in 1976, is a small nonprofit that reported $113K in total revenue in fiscal year 2023. Expenses of $109K left a modest 3% surplus.

Mission

ASEP provides individual services to physically, mentally, emotionally and learning disabled individuals. The services include counseling,education,job development,job placement.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $112,979
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $112,979

Expense Breakdown

Grants Paid $0
Salaries & Benefits $60,589
Fundraising Expenses $0
Program Expenses $106,035
Other Expenses $48,661
TOTAL EXPENSES $109,250

Year-over-Year Comparison

2023 2022 Change
Revenue $112,979 $112,969 +0.0%
Expenses $109,250 $109,091 +0.0%
Net Income $3,729 $3,878 0.0%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
5
Independent Members
3
Employees
2
Volunteers
1

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
1
$54,967
Total Directors
0
$0
Key Employees
1
$54,967
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Karen M Shumate Executive Director 40.00
Officer Key Emp
$54,967 $0 $54,967
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $112,979 $109,250 $6,903 $3,729
2023 $112,969 $109,091 $4,000 $3,878
2022 $100,308 $104,062 $1,286 $-3,754
2021 $94,234 $103,071 $5,040 $-8,837
2020 $89,327 $76,598 $12,629 $12,729
2019 $96,407 $100,357 $8,203 $-3,950
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