Civic Intelligence

The American Chestnut Foundation

990 • Fiscal year 2018 • EIN 41-1483019

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 26, 2018

50 N Merrimon Ave Ste 115Asheville, NC 28804

(828) 281-0047

Siviq Scores

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

Liabilities / Assets

38th percentile

0.08x

Higher debt load relative to assets than 38% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

55th percentile

0.20x

Higher debt load relative to revenue than 55% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

12th percentile

-20%

Higher net margin than 12% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

69th percentile

$173,810

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 7.5% of source-year revenue.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Asset Growth

36th percentile

-1.5%

Faster asset growth than 36% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

8th percentile

-32%

Faster revenue growth than 8% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Assets

Down

$5,988,915

Down $88,831 (-1.5%) from 2017

Net Assets

Down

$5,520,658

Down $166,839 (-2.9%) from 2017

Liabilities

Up

$468,257

Up $78,008 (+20%) from 2017

Revenue

Down

$2,311,814

Down $1,107,564 (-32%) from 2017

Expenses

Up

$2,775,163

Up $261,368 (+10%) from 2017

Net Income

Down

-$463,349

Down $1,368,932 (-151%) from 2017

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0Assets 2011: $4,494,984Liabilities 2011: $684,118Net Assets 2011: $3,810,8662011Assets 2012: $4,362,744Liabilities 2012: $794,416Net Assets 2012: $3,568,3282012Assets 2013: $4,508,596Liabilities 2013: $728,995Net Assets 2013: $3,779,6012013Assets 2014: $5,929,483Liabilities 2014: $891,304Net Assets 2014: $5,038,1792014Assets 2015: $5,994,475Liabilities 2015: $836,307Net Assets 2015: $5,158,1682015Assets 2016: $5,156,601Liabilities 2016: $493,310Net Assets 2016: $4,663,2912016Assets 2017: $6,077,746Liabilities 2017: $390,249Net Assets 2017: $5,687,4972017Assets 2018: $5,988,915Liabilities 2018: $468,257Net Assets 2018: $5,520,6582018Assets 2019: $6,535,930Liabilities 2019: $384,688Net Assets 2019: $6,151,2422019Assets 2020: $6,713,833Liabilities 2020: $625,820Net Assets 2020: $6,088,0132020Assets 2021: $8,708,682Liabilities 2021: $425,077Net Assets 2021: $8,283,6052021Assets 2022: $8,303,421Liabilities 2022: $526,204Net Assets 2022: $7,777,2172022Assets 2023: $9,203,547Liabilities 2023: $550,500Net Assets 2023: $8,653,0472023Assets 2024: $9,943,661Liabilities 2024: $690,015Net Assets 2024: $9,253,6462024

Highlighted filing

2018

Assets$5,988,915
Liabilities$468,257
Net Assets$5,520,658

Operations Trend

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

$4.0M$2.0M$0-$2.0MExpenses 2011: $1,885,5442011Expenses 2012: $2,317,8492012Revenue 2013: $2,313,356Expenses 2013: $2,407,863Net Income 2013: -$94,5072013Revenue 2014: $3,380,654Expenses 2014: $2,262,159Net Income 2014: $1,118,4952014Revenue 2015: $2,769,183Expenses 2015: $2,482,370Net Income 2015: $286,8132015Revenue 2016: $2,728,005Expenses 2016: $2,952,785Net Income 2016: -$224,7802016Revenue 2017: $3,419,378Expenses 2017: $2,513,795Net Income 2017: $905,5832017Revenue 2018: $2,311,814Expenses 2018: $2,775,163Net Income 2018: -$463,3492018Revenue 2019: $3,076,971Expenses 2019: $2,501,208Net Income 2019: $575,7632019Revenue 2020: $2,763,779Expenses 2020: $2,693,808Net Income 2020: $69,9712020Revenue 2021: $3,733,256Expenses 2021: $2,388,877Net Income 2021: $1,344,3792021Revenue 2022: $2,958,588Expenses 2022: $2,869,965Net Income 2022: $88,6232022Revenue 2023: $3,707,009Expenses 2023: $3,418,320Net Income 2023: $288,6892023Revenue 2024: $3,367,085Expenses 2024: $3,683,761Net Income 2024: -$316,6762024

Highlighted filing

2018

Revenue$2,311,814
Expenses$2,775,163
Net Income-$463,349
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 26, 2018
Return Version
2017v2.3
Gross Receipts
$3,202,090
Mission and Program Overview

Mission

To return the iconic american chestnut to its native range. Rev. Apr 2017

Restoration of the american chestnut tree

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,517,046$2,946,102▲ $429,056
Land, Buildings, and Equipment, Net$1,834,070$1,863,307▲ $29,237
Cash and Non-Interest-Bearing Accounts$1,636,648$1,034,624▼ $602,024
Accounts Receivable$20,707$67,350▲ $46,643
Pledges and Grants Receivable$25,000$25,000→ $0
Prepaid Expenses and Deferred Charges$18,940$18,086▼ $854
Intangible Assets$14,128$13,672▼ $456
Inventories for Sale or Use$11,207$11,207→ $0
Total Assets$6,077,746$5,988,915▼ $88,831
Other Assets Total-$9,567-
Liabilities
Accounts Payable and Accrued Expenses$163,744$241,064▲ $77,320
Escrow Account Liability$213,691$221,431▲ $7,740
Mortgage Notes Payable Secured by Investment Property$11,919$4,447▼ $7,472
Deferred Revenue$895$1,315▲ $420
Total Liabilities$390,249$468,257▲ $78,008
Net Assets / Fund Balance
Unrestricted Net Assets$4,953,875$4,791,581▼ $162,294
Temporarily Rstr Net Assets$704,365$701,399▼ $2,966
Permanently Rstr Net Assets$29,257$27,678▼ $1,579
Total Net Assets Fund Balance$5,687,497$5,520,658▼ $166,839
Total Liabilities and Net Assets / Fund Balance$6,077,746$5,988,915▼ $88,831

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$759,578$127,523$887,101
Land$839,853-$839,853
Equipment$243,608$407,525$651,133
Leasehold Improvements$20,268$135,276$155,544
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lisa ThomsonPresident &FT$159,312$14,498$173,810
Lisa ThomsonPresident & CEO-$159,312$14,498$173,810
Heather NelsonControllerFT$65,544$1,503$67,047
Revenue and Support

Revenue Composition

Contributions and Grants
$2,237,054
Program Service Revenue
$0
Investment Income
$32,127
Other Revenue
$42,633
All Other Contributions
$1,693,384
Change in Net Assets
$-463,349

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,311,814
Revenue Not Reported on Form 990
$216,510
Total Revenue per Audited Statements
$2,528,324
Total Revenue per Form 990
$2,311,814
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,234,298
Other Expenses$838,108
Grants and Similar Amounts Paid$702,757
Total Fundraising Expense$51,230
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$745,997$9,259$14,340$769,596
Grants to Domestic Orgs$697,757--$697,757
Current Officers, Directors, Trustees, and Key Employees$167,623$60,128$8,269$236,020
Fees for Services Other$120,573$915-$121,488
Other Employee Benefits$99,489$3,802$1,787$105,078
Payroll Taxes$93,941$5,884$1,961$101,786
Office Expenses$60,336$30,211$8,058$98,605
Occupancy$38,548$48,849-$87,397
Depreciation Depletion$84,827$1,365$455$86,647
Travel$35,616$34,966$6,750$77,332
Conferences and Meetings$4,208$69,537-$73,745
Advertising$31,806-$7,131$38,937
Other Expenses$30,257--$30,257
Pension Plan Contributions$21,818--$21,818
Fees for Service Investment Mgmnt Fees-$19,493-$19,493
Fees for Services Accounting-$14,517-$14,517
Insurance$9,723$3,638-$13,361
Fees for Services Legal-$8,577-$8,577
Grants to Domestic Individuals$5,000--$5,000
All Other Expenses$311$1,821$2,479$4,611
Interest$467--$467
Total Functional Expenses$2,410,971$312,962$51,230$2,775,163

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,775,163
Total Expenses per Audited Statements$2,775,163
Total Expenses per Form 990$2,775,163
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Esf College Foundation IncSyracuse, NY501c3Research$247,500
Virginia Polytechnic InstituteBlacksburg, VAGovResearch$184,882
Pennsylvania State UniversityUniversity Park, PAGovResearch$70,089
Clemson UniversityClemson, SCGovResearch$67,471
West Virginia UniversityMorgantown, WVGovResearch$45,000
The University of TennesseeKnoxville, TNGovResearch$20,750
University of Notre DameNotre Dame, INGovSequencing Services$14,150
Univ of Georgia Research FoundationAthens, GA501c3Research$12,813
Maryland Chapter of the AcfOlney, MD501c3Chapter Grant$8,942
Vermontnew Hampshire Chapter TacfRye, NH501c3Chapter Grant$5,790
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
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, Page 6, Part VI, Line 1A

The executive committee consists of the officers. A quorum of the executive committee is a simple majority of its members. The committee has and may exercise all powers of the board of directors in the day-to-day management of the business and affairs of the foundation, except that it may not (1) hire or fire employees of the foundation, (2) remove any officer or any elected director, or fill any vacancy on the board of directors, (3) amend or suspend the bylaws, or (4) amend or repeal any resolution or vote of the board.

Form 990, Page 6, Part VI, Line 6

Per article ii, sec 1 of the foundation's bylaws: for any purpose for which a corporate membership may be required, the members of the board of directors of the foundation from time to time shall be deemed to be the members of the foundation, and the meetings of, resolutions enacted by, and actions taken by the board of directors of this foundation shall in every respect be deemed to constitute the meetings of, resolutions enacted by, and actions taken by the members of the foundation.

Form 990, Page 6, Part VI, Line 11B

The return was prepared by an independent accountant with assistance and oversight by management. Upon completion and review, the return was provided to each voting board member at a scheduled meeting prior to submission to the irs.

Form 990, Page 6, Part VI, Line 12C

The foundation has a conflict of interest policy posted on the board of directors' website detailing its purpose, compliance, and other matters. All directors must sign this policy and any issues are brought to attention when relevant at board and committee meetings. The policy is reviewed at least annually.

Form 990, Page 6, Part VI, Line 15A

The board of directors uses a number of methods to determine compensation for the top executive officer, including use of an independent compensation consultant, comparison to the form 990 of similar organizations, written employment contracts, and final approval by the board or an authorized subcommittee of the board. Compensation for the executive director was last reviewed in january 2017.

Form 990, Page 6, Part VI, Line 15B

Various outside sources, including but not limited to consultants and other form 990 filings, are used to determine appropriate compensation

Form 990, Page 6, Part VI, Line 17

Virginia, vermont, west virginia

Form 990, Page 6, Part VI, Line 19

The organization's financial statements, conflict of interest policy, bylaws, and certain other policy documents are available upon request at the organization's administrative offices in asheville, nc. In addition, these documents are available on the organization's website and are made available to the board of directors through electronic communication.

Filing and Contact Details

Filer

Filer Name
The American Chestnut Foundation
EIN
41-1483019
Phone
8282810047
Address
50 N MERRIMON AVE STE 115, ASHEVILLE, NC 28804

Signing Officer

Name
Lisa Thomson
Title
President & CEO
Phone
8282810047
Signed
2018-11-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lisa Thomson
Formed
1983
Legal Domicile
Nc
Voting Board Members
21
Independent Board Members
21
Employees
31
Volunteers
2,500

Preparer

Firm
Carter P C
Address
16 BILTMORE AVE SUITE 200, ASHEVILLE, NC 28001-3617
Preparer
Rufus W Dollar
Phone
8282599900
Supplemental Narrative

Additional Explanations

Form 990, Part XI

Prior period adjustment - during the year ended june 30, 2018, it was discovered that certain amounts were not recognized in the financial statements for the year ended june 30, 2017. As a result, adjustments were made to increase promises to give, contributions, and net assets by 80,000 from amounts previously reported for the year ended june 30, 2017.

Financial Statement Notes

Schedule D, Page 3, Part X

The foundation is exempt from federal income taxes under section 501(c)(3) of the internal revenue code, except on net income derived from unrelated business activities. The foundation believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions material to the financial statements. The foundation's return of organization exempt from income tax (form 990) for the fiscal years ended june 30, 2017, 2016, and 2015 are subject to examination by the irs, generally for three years after they were filed.

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IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.94$0.69$9.25$3.37$3.68$0.32
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.20$0.55$8.65$3.71$3.42$0.29
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.30$0.53$7.78$2.96$2.87$0.09
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.71$0.43$8.28$3.73$2.39$1.34
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.71$0.63$6.09$2.76$2.69$0.07
2019Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$6.54$0.38$6.15$3.08$2.50$0.58
2018Detailed filing. Detailed filing data is available for this year.$5.99$0.47$5.52$2.31$2.78$0.46
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.08$0.39$5.69$3.42$2.51$0.91
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.16$0.49$4.66$2.73$2.95$0.22
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.99$0.84$5.16$2.77$2.48$0.29
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.93$0.89$5.04$3.38$2.26$1.12
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$4.51$0.73$3.78$2.31$2.41$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.36$0.79$3.57$2.32
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.49$0.68$3.81$1.89
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2018 filings • 501(c)3 • $5M-$10M nonprofits