Civic Intelligence

Ashland Legacy Trust

990 • Fiscal year 2020 • EIN 45-6496788

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 09, 2021

Organization ProfileNA
P O Box 384Ashland, OH 44805

(330) 801-0923

Siviq Scores

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

Liabilities / Assets

100th percentile

5.51x

Higher debt load relative to assets than 100% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2020

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

25th percentile

-1.9%

Faster asset growth than 25% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

1st percentile

-100%

Faster revenue growth than 1% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets100th percentile

Assets

Down

$4,048,686

Down $77,024 (-1.9%) from 2019

Net Assets

Down

-$18,242,786

Down $1,718,694 (-10%) from 2019

Liabilities

Up

$22,291,472

Up $1,641,670 (+8.0%) from 2019

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

Down

$0

Down $523,136 (-100%) from 2019

Expenses

Down

$1,718,694

Down $190,341 (-10.0%) from 2019

Net Income

Down

-$1,718,694

Down $332,795 (-24%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth25th percentile

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

$40M$20M$0-$20M-$40MAssets 2018: $4,522,304Liabilities 2018: $19,660,497Net Assets 2018: -$15,138,1932018Assets 2019: $4,125,710Liabilities 2019: $20,649,802Net Assets 2019: -$16,524,0922019Assets 2020: $4,048,686Liabilities 2020: $22,291,472Net Assets 2020: -$18,242,7862020Assets 2021: $4,120,436Liabilities 2021: $24,023,508Net Assets 2021: -$19,903,0722021Assets 2022: $3,909,984Liabilities 2022: $25,202,721Net Assets 2022: -$21,292,7372022Assets 2023: $5,279,745Liabilities 2023: $27,836,462Net Assets 2023: -$22,556,7172023Assets 2024: $3,956,768Liabilities 2024: $24,629,446Net Assets 2024: -$20,672,6782024

Highlighted filing

2020

Assets$4,048,686
Liabilities$22,291,472
Net Assets-$18,242,786
Open 2020 Filing

Operations Trend

Revenue Growth1st percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2018: $520,594Expenses 2018: $1,505,335Net Income 2018: -$984,7412018Revenue 2019: $523,136Expenses 2019: $1,909,035Net Income 2019: -$1,385,8992019Revenue 2020: $0Expenses 2020: $1,718,694Net Income 2020: -$1,718,6942020Revenue 2021: $0Expenses 2021: $1,660,286Net Income 2021: -$1,660,2862021Revenue 2022: $1,147,355Expenses 2022: $2,537,020Net Income 2022: -$1,389,6652022Revenue 2023: $1,518,479Expenses 2023: $2,782,459Net Income 2023: -$1,263,9802023Revenue 2024: $4,073,438Expenses 2024: $2,189,399Net Income 2024: $1,884,0392024

Highlighted filing

2020

Revenue$0
Expenses$1,718,694
Net Income-$1,718,694
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 9, 2021
Return Version
2020v4.0
Gross Receipts
$0
Mission and Program Overview

Mission

The trust will engage in charitable and educational activities focused on supporting the mission and endowment of ashland university. Ashland university is an institution of high education that offers undergraduate, graduate and professional degree programs. The trust will further its exempt purpose by acting primarily as a grant-making organization providing funds to ashland university.

The trust will engage in charitable and educational activities focused on supporting the mission and endowment of ashland university. Ashland university is an institution of higher education that offers undergraduate, graduate and professional degree programs. The trust will further its exempt purpose by acting primarily as a grant-making organization providing funds to ashland university.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$37,073$35,597▼ $1,476
Total Assets$4,125,710$4,048,686▼ $77,024
Other Assets Total$4,088,637$4,013,089▼ $75,548
Liabilities
Other Liabilities$20,649,802$22,291,472▲ $1,641,670
Total Liabilities$20,649,802$22,291,472▲ $1,641,670
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-16,524,092$-18,242,786▼ $1,718,694
Total Net Assets Fund Balance$-16,524,092$-18,242,786▼ $1,718,694
Total Liabilities and Net Assets / Fund Balance$4,125,710$4,048,686▼ $77,024

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$124,637--
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

NameTitle
John a VanosdallTrustee
Rick SprengTrustee
Thomas PickeringTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-1,718,694
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,718,694
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Insurance$1,298,744--$1,298,744
Interest$338,510--$338,510
Fees for Services Accounting-$4,220-$4,220
Office Expenses$872--$872
Other Expenses$800--$800
Total Functional Expenses$1,714,474$4,220$0$1,718,694
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Efg Bank Cayman Branch Loan$15,739,235
Ashland University Loan$6,552,237
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
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
No
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, Page 6, Part VI, Line 11B

“Form 990 is provided to the governing body members for review and approval. Prior to filing, questions and comments of the members are responded to and incorporated into the tax filing as necessary.”

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

“The organization promptly evaluates any identified exceptions of its conflict of interest policy.”

Form 990, Page 6, Part VI, Line 19

“Information provided upon request.”

Filing and Contact Details

Filer

Filer Name
Ashland Legacy Trust
EIN
45-6496788
Phone
3308010923
Address
P O BOX 384, ASHLAND, OH 44805

Signing Officer

Name
Thomas Pickering
Title
Trustee
Phone
3308010923
Signed
2021-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Thomas Pickering
Formed
2017
Legal Domicile
Oh
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Irwin Financial Associates Inc
Address
2025 CLAREMONT AVE, ASHLAND, OH 44805
Preparer
Steven W Irwin CPA
Phone
4192812811
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The trust will engage in charitable and educational activities focused on supporting the mission and endowment of ashland university. Ashland university is an institution of higher education that offers undergraduate, graduate and professional degree programs. The trust will further its exempt purpose by acting primarily as a grant-making organization providing funds to ashland university.”

Form 990, Part V, Line 4B

“CAYMAN ISLANDS”

Raw XML Appendix284 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE TRUST WILL ENGAGE IN CHARITABLE AND EDUCATIONAL ACTIVITIES FOCUSED ON SUPPORTING THE MISSION AND ENDOWMENT OF ASHLAND UNIVERSITY. ASHLAND UNIVERSITY IS AN INSTITUTION OF HIGHER EDUCATION THAT OFFERS UNDERGRADUATE, GRADUATE AND PROFESSIONAL DEGREE PROGRAMS. THE TRUST WILL FURTHER ITS EXEMPT PURPOSE BY ACTING PRIMARILY AS A GRANT-MAKING ORGANIZATION PROVIDING FUNDS TO ASHLAND UNIVERSITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CAYMAN ISLANDS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS PROVIDED TO THE GOVERNING BODY MEMBERS FOR REVIEW AND APPROVAL. PRIOR TO FILING, QUESTIONS AND COMMENTS OF THE MEMBERS ARE RESPONDED TO AND INCORPORATED INTO THE TAX FILING AS NECESSARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION PROMPTLY EVALUATES ANY IDENTIFIED EXCEPTIONS OF ITS CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4INFORMATION PROVIDED UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART V, LINE 4B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN W IRWIN CPA
ReturnHeader/ReturnTs02021-11-09T13:35:56-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0THOMAS
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0PICKERING
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,048,686
Liabilities
$22,291,472
Net assets
-$18,242,786
Revenue
$0
Expenses
$1,718,694
Net income
-$1,718,694
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.96$24.6$20.7$4.07$2.19$1.88
2023Detailed filing. Detailed filing data is available for this year.$5.28$27.8$22.6$1.52$2.78$1.26
2022Detailed filing. Detailed filing data is available for this year.$3.91$25.2$21.3$1.15$2.54$1.39
2021Detailed filing. Detailed filing data is available for this year.$4.12$24.0$19.9$0.00$1.66$1.66
2020Detailed filing. Detailed filing data is available for this year.$4.05$22.3$18.2$0.00$1.72$1.72
2019Detailed filing. Detailed filing data is available for this year.$4.13$20.6$16.5$0.52$1.91$1.39
2018Detailed filing. Detailed filing data is available for this year.$4.52$19.7$15.1$0.52$1.51$0.98
Peer Organizations

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