Civic Intelligence

Local First Foundation

990 • Fiscal year 2023 • EIN 32-0600640

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 14, 2024

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

0.22x

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

83rd percentile

0.11x

Higher debt load relative to revenue than 83% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

88th percentile

43%

Higher net margin than 88% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

84th percentile

43%

Faster asset growth than 84% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

96th percentile

268%

Faster revenue growth than 96% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets85th percentile

Assets

Up

$121,336

Up $36,777 (+43%) from 2022

Net Assets

Up

$95,029

Up $103,354 (+1241%) from 2022

Liabilities

Down

$26,307

Down $66,577 (-72%) from 2022

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin88th percentile

Revenue

Up

$231,339

Up $168,531 (+268%) from 2022

Expenses

Down

$132,736

Down $110,159 (-45%) from 2022

Net Income

Up

$98,603

Up $278,690 (+155%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth84th 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

2023

Assets$121,336
Liabilities$26,307
Net Assets$95,029
Open 2023 Filing

Operations Trend

Revenue Growth96th 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

2023

Revenue$231,339
Expenses$132,736
Net Income$98,603
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 14, 2024
Return Version
2023v5.1
Gross Receipts
$231,339
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$72,859$121,086▲ $48,227
Accounts Receivable$11,250$250▼ $11,000
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$84,559$121,336▲ $36,777
Other Assets Total$450$0▼ $450
Liabilities
Other Liabilities$83,828$26,307▼ $57,521
Accounts Payable and Accrued Expenses$9,056--
Total Liabilities$92,884$26,307▼ $66,577
Net Assets / Fund Balance
Net Assets With Donor Restrictions-$100,000-
Net Assets Without Donor Restrictions$-8,325$-4,971▲ $3,354
Total Net Assets Fund Balance$-8,325$95,029▲ $103,354
Total Liabilities and Net Assets / Fund Balance$84,559$121,336▲ $36,777
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Kip KosoChairman
Jeanne SczechVice Chair
Lauren BerutichExecutive Director
John LopezTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$222,492
Program Service Revenue
$8,620
Investment Income
$227
Other Revenue
$0
All Other Contributions
$194,792
Change in Net Assets
$98,603
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$70,596
Salaries, Compensation, and Employee Benefits$41,140
Grants and Similar Amounts Paid$21,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$31,833$6,393-$38,226
Grants to Domestic Orgs$21,000--$21,000
Fees for Services Accounting$7,162$1,439-$8,601
Office Expenses$3,687$740-$4,427
Payroll Taxes$2,427$487-$2,914
Fees for Services Other$2,078$417-$2,495
Occupancy$1,592$320-$1,912
All Other Expenses$1,109$221-$1,330
Insurance$1,064$214-$1,278
Interest$687$138-$825
Travel$585$117-$702
Other Expenses$502$101-$603
Information Technology$361$72-$433
Advertising$175$35-$210
Total Functional Expenses$114,051$18,685$0$132,736
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Local FirstDurango, CO501(c)(6)Operating$20,000
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
Due to/from LF$26,307
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, Section B, Line 11B

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

Form 990, Part VI, Section B, Line 12C

“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, Section B, Line 15A

“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, Section C, Line 19

“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
Doug McCarthy
Title
Executive Director
Signed
2024-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Doug McCarthy
Formed
2019
Legal Domicile
Co
Voting Board Members
3
Independent Board Members
3
Employees
2

Preparer

Firm
Fredrick Zink & Associates PC
Address
954 E Second Ave Ste 201, Durango, CO 81301
Preparer
John M Lopez
Phone
9702470506
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D

“OTHER PROGRAM SERVICES 4: This includes fiscal sponsorship and support of the Durango Creative District”

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IRS990/ProgSrvcAccomActy3Grp/Desc0Program Development focuses on building a local movement to invest in addressing our communitys most pressing concerns. During 2023, our efforts focused on collaborating with other community nonprofits and government agencies to assess how the community can meet the need for affordable housing and childcare, as well as ongoing efforts to promote local business resilience and continued recovery from the impact of the COVID-19 pandemic.
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt010
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt05
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt03
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0245
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt08620
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt09163
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt07628
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt01166
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt01478
IRS990ScheduleA/OtherIncome170Grp/TotalAmt028055
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.96130
IRS990ScheduleA/PublicSupportTotal170Amt0702843
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0222492
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt052654
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0236534
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0152422
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt038741
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0702843
IRS990ScheduleA/TotalSupportAmt0731143
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt026307
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Due to/from LF
IRS990ScheduleD/TotalLiabilityAmt026307
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt020000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(6)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Operating
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Local First
IRS990ScheduleI/RecipientTable/RecipientEIN0273083017
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0PO Box 2058
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Durango
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0CO
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd081302
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt01
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0OTHER PROGRAM SERVICES 4: This includes fiscal sponsorship and support of the Durango Creative District
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0CO
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt0121336
IRS990/TotalAssetsGrp/BOYAmt084559
IRS990/TotalAssetsGrp/EOYAmt0121336
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0222492
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt018685
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0114051
IRS990/TotalFunctionalExpensesGrp/TotalAmt0132736
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt092884
IRS990/TotalLiabilitiesEOYAmt026307
IRS990/TotalLiabilitiesGrp/BOYAmt092884
IRS990/TotalLiabilitiesGrp/EOYAmt026307
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-8325
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt095029
IRS990/TotalOtherProgSrvcExpenseAmt08621
IRS990/TotalProgramServiceExpensesAmt0114051
IRS990/TotalProgramServiceRevenueAmt08620
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt08847
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0231339
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt084559
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0121336
IRS990/TravelGrp/ManagementAndGeneralAmt0117
IRS990/TravelGrp/ProgramServicesAmt0585
IRS990/TravelGrp/TotalAmt0702
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0[email protected]
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Doug McCarthy
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Local First Foundation
ReturnHeader/Filer/BusinessNameControlTxt0LOCA
ReturnHeader/Filer/EIN0320600640
ReturnHeader/Filer/PhoneNum09707996618
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO Box 2058
ReturnHeader/Filer/USAddress/CityNm0Durango
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CO
ReturnHeader/Filer/USAddress/ZIPCd081302
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0841073179
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Fredrick Zink & Associates PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0954 E Second Ave Ste 201

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$121,336
Liabilities
$26,307
Net assets
$95,029
Revenue
$231,339
Expenses
$132,736
Net income
$98,603
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