Civic Intelligence

Local First Foundation

990 • Fiscal year 2021 • EIN 32-0600640

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 14, 2022

Organization Profile[email protected]
PO Box 2058Durango, CO 81302

(970) 799-6618

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

85th percentile

0.28x

Higher debt load relative to assets than 85% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

86th percentile

0.26x

Higher debt load relative to revenue than 86% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

86th percentile

50%

Higher net margin than 86% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

91st percentile

$45,426

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 17.8% of source-year revenue.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

92nd percentile

145%

Faster asset growth than 92% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

77th percentile

55%

Faster revenue growth than 77% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets85th percentile

Assets

Up

$239,003

Up $141,578 (+145%) from 2020

Net Assets

Up

$171,762

Up $126,875 (+283%) from 2020

Liabilities

Up

$67,241

Up $14,703 (+28%) from 2020

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin86th percentile

Revenue

Up

$255,396

Up $90,165 (+55%) from 2020

Expenses

Up

$128,521

Up $360 (+0.3%) from 2020

Net Income

Up

$126,875

Up $89,805 (+242%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth92nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300K$200K$100K$0-$100KAssets 2020: $97,425Liabilities 2020: $52,538Net Assets 2020: $44,8872020Assets 2021: $239,003Liabilities 2021: $67,241Net Assets 2021: $171,7622021Assets 2022: $84,559Liabilities 2022: $92,884Net Assets 2022: -$8,3252022Assets 2023: $121,336Liabilities 2023: $26,307Net Assets 2023: $95,0292023Assets 2024: $62,656Liabilities 2024: $0Net Assets 2024: $62,6562024

Highlighted filing

2021

Assets$239,003
Liabilities$67,241
Net Assets$171,762
Open 2021 Filing

Operations Trend

Revenue Growth77th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400K$200K$0-$200KRevenue 2020: $165,231Expenses 2020: $128,161Net Income 2020: $37,0702020Revenue 2021: $255,396Expenses 2021: $128,521Net Income 2021: $126,8752021Revenue 2022: $62,808Expenses 2022: $242,895Net Income 2022: -$180,0872022Revenue 2023: $231,339Expenses 2023: $132,736Net Income 2023: $98,6032023Revenue 2024: $189,601Expenses 2024: $204,833Net Income 2024: -$15,2322024

Highlighted filing

2021

Revenue$255,396
Expenses$128,521
Net Income$126,875
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 14, 2022
Return Version
2021v4.0
Gross Receipts
$255,396
Mission and Program Overview

Mission

The mission of the Local First Foundation is to build self-reliance, sense of place, and well-being for the stakeholders of the La Plata County community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$52,258$138,184▲ $85,926
Accounts Receivable$45,167$100,819▲ $55,652
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$97,425$239,003▲ $141,578
Other Assets Total-$0-
Liabilities
Other Liabilities$52,538$65,314▲ $12,776
Accounts Payable and Accrued Expenses-$1,927-
Total Liabilities$52,538$67,241▲ $14,703
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$44,887$171,762▲ $126,875
Total Net Assets Fund Balance$44,887$171,762▲ $126,875
Total Liabilities and Net Assets / Fund Balance$97,425$239,003▲ $141,578
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Monique DiGiorgioExecutive DirectorPT$45,426$45,426

Board Members and Trustees

NameTitle
Ted WrightChairman
Tim WheelerVice Chair
Kiki HootonFormer Managing Director
John LopezTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$236,534
Program Service Revenue
$18,857
Investment Income
$5
Other Revenue
$0
All Other Contributions
$222,755
Change in Net Assets
$126,875
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$79,620
Salaries, Compensation, and Employee Benefits$48,901
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$20,828$24,598-$45,426
Fees for Services Other$1,500$1,985-$3,485
Payroll Taxes$1,212$2,263-$3,475
Occupancy-$2,575-$2,575
All Other Expenses$226$797-$1,023
Insurance-$860-$860
Office Expenses-$774-$774
Advertising-$772-$772
Other Expenses$511$86-$597
Travel$3$23-$26
Total Functional Expenses$90,235$38,286$0$128,521
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Agency funds$65,314
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“A copy of Form 990 is provided to the board for review and approval prior to filing.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“In situations where directors, staff, or agents of corporation, or their extended family members, stand to gain material benefit or suffer material loss from a decision of the corporation, that person shall: a) immediately inform the party charged with making the decision b) help the party making the decision by disclosing any material facts related to the decision c) recusing themselves from the discussion and, if necessary, the casting of votes on the decision.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“Compensation of executive director is determined based on review of compensation for similar organizations in La Plata county; which is then reviewed by the executive committee and presented to the board for approval.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Local First Foundation
EIN
32-0600640
Phone
9707996618
Address
PO Box 2058, Durango, CO 81302

Signing Officer

Name
Tim Wheeler
Title
President
Signed
2022-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tim Wheeler
Formed
2019
Legal Domicile
Co
Voting Board Members
3
Independent Board Members
3
Employees
2

Preparer

Firm
FredrickZink & Associates PC CPAs
Address
954 East 2nd Avenue 201, Durango, CO 81301
Preparer
John M Lopez
Phone
9702470506
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D: Other Program Services Description

“OTHER PROGRAM SERVICES 4: In order to inspire meaningful contributions to the community, local area businesses are committing to giving back 1% of their gross revenues to make a significant impact to the health and well being of the place we call home. In the first year of the Funds existence, a minimum of 25% of the 1% pledge will be pooled and leveraged in order to make movement-building and long-term investments to help alleviate our communitys most pressing concerns. The La Plata Impact Fund seeks to be a change agent, driving funds to where they can make the biggest difference.”

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IRS990/ProgSrvcAccomActy2Grp/Desc0Local First has partnered with the Peak Health Alliance, a healthcare purchasing cooperative with the goal of reducing health care premiums, while maintaining local and high quality care, through the power of community collaboration. You now shop local for healthcare saving approximately 35% on health insurance in La Plata, San Juan, Dolores, and Montezuma Counties.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0OTHER PROGRAM SERVICES 4: In order to inspire meaningful contributions to the community, local area businesses are committing to giving back 1% of their gross revenues to make a significant impact to the health and well being of the place we call home. In the first year of the Funds existence, a minimum of 25% of the 1% pledge will be pooled and leveraged in order to make movement-building and long-term investments to help alleviate our communitys most pressing concerns. The La Plata Impact Fund seeks to be a change agent, driving funds to where they can make the biggest difference.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A copy of Form 990 is provided to the board for review and approval prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2In situations where directors, staff, or agents of corporation, or their extended family members, stand to gain material benefit or suffer material loss from a decision of the corporation, that person shall: a) immediately inform the party charged with making the decision b) help the party making the decision by disclosing any material facts related to the decision c) recusing themselves from the discussion and, if necessary, the casting of votes on the decision.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Compensation of executive director is determined based on review of compensation for similar organizations in La Plata county; which is then reviewed by the executive committee and presented to the board for approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Documents are made available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, Line 4d: Other Program Services Description
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/USAddress/CityNm0Durango
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IRS990/USAddress/ZIPCd081302
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Tim Wheeler
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-14
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FredrickZink & Associates PC CPAs
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0954 East 2nd Avenue 201
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Durango
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CO
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Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$239,003
Liabilities
$67,241
Net assets
$171,762
Revenue
$255,396
Expenses
$128,521
Net income
$126,875
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.63$0.00$0.63$1.90$2.05$0.15
2023Detailed filing. Detailed filing data is available for this year.$1.21$0.26$0.95$2.31$1.33$0.99
2022Detailed filing. Detailed filing data is available for this year.$0.85$0.93$0.08$0.63$2.43$1.80
2021Detailed filing. Detailed filing data is available for this year.$2.39$0.67$1.72$2.55$1.29$1.27
2020Detailed filing. Detailed filing data is available for this year.$0.97$0.53$0.45$1.65$1.28$0.37