Civic Intelligence

Aglaunch Initiative

990 • Fiscal year 2020 • EIN 83-0995119

Jul 01, 2019 to Jun 30, 2020 • Filed on Oct 23, 2020

88 Union AvenueMemphis, TN 38103

(901) 443-6463

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.54x

Higher debt load relative to assets than 82% of similar nonprofits.

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

Liabilities / Revenue

60th percentile

0.21x

Higher debt load relative to revenue than 60% of similar nonprofits.

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

Net Margin

34th percentile

-1.5%

Higher net margin than 34% of similar nonprofits.

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

Top Officer Pay

88th percentile

$179,027

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 14.7% of source-year revenue.

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

Asset Growth

85th percentile

46%

Faster asset growth than 85% of similar nonprofits.

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

Revenue Growth

62nd percentile

7.6%

Faster revenue growth than 62% of similar nonprofits.

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

Assets

Up

$460,883

Up $144,653 (+46%) from 2019

Net Assets

Down

$211,394

Down $18,148 (-7.9%) from 2019

Liabilities

Up

$249,489

Up $162,801 (+188%) from 2019

Revenue

Up

$1,214,090

Up $85,294 (+7.6%) from 2019

Expenses

Up

$1,232,238

Up $332,984 (+37%) from 2019

Net Income

Down

-$18,148

Down $247,690 (-108%) from 2019

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2019: $316,230Liabilities 2019: $86,688Net Assets 2019: $229,5422019Assets 2020: $460,883Liabilities 2020: $249,489Net Assets 2020: $211,3942020Assets 2021: $1,769,097Liabilities 2021: $1,359,052Net Assets 2021: $410,0452021Assets 2022: $1,697,532Liabilities 2022: $1,117,477Net Assets 2022: $580,0552022Assets 2023: $2,129,660Liabilities 2023: $1,754,269Net Assets 2023: $375,3912023Assets 2024: $1,117,960Liabilities 2024: $925,202Net Assets 2024: $192,7582024

Highlighted filing

2020

Assets$460,883
Liabilities$249,489
Net Assets$211,394

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2019: $1,128,796Expenses 2019: $899,254Net Income 2019: $229,5422019Revenue 2020: $1,214,090Expenses 2020: $1,232,238Net Income 2020: -$18,1482020Revenue 2021: $1,378,095Expenses 2021: $1,179,444Net Income 2021: $198,6512021Revenue 2022: $2,583,345Expenses 2022: $2,413,335Net Income 2022: $170,0102022Revenue 2023: $2,426,005Expenses 2023: $2,619,849Net Income 2023: -$193,8442023Revenue 2024: $2,462,523Expenses 2024: $2,645,156Net Income 2024: -$182,6332024

Highlighted filing

2020

Revenue$1,214,090
Expenses$1,232,238
Net Income-$18,148
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Oct 23, 2020
Return Version
2019v5.1
Gross Receipts
$1,214,090
Mission and Program Overview

Mission

Aglaunch attracts, creates and grows agtech startups, facilitates the development of new agriculture and food value-chains, and builds collaborative farmer networks, with a commitment to intentional inclusion.

Aglaunch catalyzes the transformation of regional agriculture and food economies.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$41,667$342,981▲ $301,314
Cash and Non-Interest-Bearing Accounts$146,166$117,902▼ $28,264
Prepaid Expenses and Deferred Charges$3,211--
Total Assets$316,230$460,883▲ $144,653
Other Assets Total$125,186$0▼ $125,186
Liabilities
Accounts Payable and Accrued Expenses$86,688$144,606▲ $57,918
Deferred Revenue-$79,376-
Unsecured Notes Loans Payable-$25,507-
Total Liabilities$86,688$249,489▲ $162,801
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$229,542$211,394▼ $18,148
Total Net Assets Fund Balance$229,542$211,394▼ $18,148
Total Liabilities and Net Assets / Fund Balance$316,230$460,883▲ $144,653
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Peter a NelsonExecutive DirectorFT$165,000$14,027$179,027
Rebecca KaufmanSenior DirectorFT$105,000$1,714$106,714
Samuel BrownSecretaryPT$66,500-$66,500

Board Members and Trustees

NameTitle
Andy MccarrollDirector
Carolyn HardyDirector
Corinne GouldDirector
Dan HatzenbuelerDirector
Dewayne GoldmonDirector
Karen LavertDirector
Rhedona RoseDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$1,126,122
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$87,968
All Other Contributions
$66,500
Change in Net Assets
$-18,148

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,214,090
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,214,090
Total Revenue per Form 990
$1,214,090
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$677,696
Other Expenses$554,542
Total Fundraising Expense$71,366
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$350,903$64,214$5,020$420,137
Fees for Services Other$248,594-$500$249,094
Current Officers, Directors, Trustees, and Key Employees$53,646$52,068$52,068$157,782
Conferences and Meetings$94,346--$94,346
Travel$65,200--$65,200
Payroll Taxes$31,525$8,650$3,798$43,973
Other Employee Benefits$34,739$1,511$3,966$40,216
Advertising$3,912$33,218$2,500$39,630
Fees for Services Lobbying$32,224--$32,224
Occupancy$8,850$8,850-$17,700
Pension Plan Contributions$10,887$3,582$1,119$15,588
Fees for Services Accounting-$12,975-$12,975
All Other Expenses$2,278$4,522$779$7,579
Other Expenses$250$3,234$1,616$4,850
Fees for Services Legal-$4,650-$4,650
Interest-$2,494-$2,494
Insurance-$127-$127
Total Functional Expenses$940,716$220,156$71,366$1,232,238

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,232,238
Total Expenses per Audited Statements$1,232,238
Total Expenses per Form 990$1,232,238
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Yes
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
No
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
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, Part VI, Section B, Line 11B

A copy of the form 990 is provided to the board for their review and approval prior to filing.

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

The board is asked to submit written conflict documents to determine if a possible conflict was present.

Form 990, Part VI, Section B, Line 15

The board of directors is consulted. The ed's salary was established based on the salary of his previous employment. The salary of key employees is set by the executive director, and disclosed to the board.

Form 990, Part VI, Section C, Line 19

Aglaunch initiative will make available any governing documents, conflict of interest policy, and/or financial statements upon request.

Filing and Contact Details

Filer

Filer Name
Aglaunch Initiative
EIN
83-0995119
Phone
9014436463
Address
88 UNION AVENUE, MEMPHIS, TN 38103

Signing Officer

Name
Peter Nelson
Title
Executive Director
Phone
9014436463
Signed
2020-10-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Peter Nelson
Formed
2018
Legal Domicile
Tn
Voting Board Members
7
Independent Board Members
7
Employees
8
Volunteers
8

Preparer

Firm
Watkins Uiberall Pllc
Address
1661 AARON BRENNER DR STE 300, MEMPHIS, TN 38120
Preparer
Daniel J Moore
Phone
9017612720
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Contract labor: program service expenses 5,400. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,400. Consulting fees: program service expenses 203,194. Management and general expenses 0. Fundraising expenses 500. Total expenses 203,694. Startco fees: program service expenses 40,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 40,000.

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IRS990/ProgSrvcAccomActy3Grp/Desc0ECOSYSTEM: DEVELOPMENT OF INNOVATION PLATFORMS AROUND DATA AND INVESTMENT THAT HELP BOTH FARMERS AND STARTUPS ADD ADDITIONAL VALUE AND PURSUE DISRUPTIVE APPROACHES. THESE INCLUDE A DATA COMMONS FOR AGGREGATING FARMERS' DATA TO HELP DEVELOP NEW PRODUCTS WITH STARTUPS, AND OPEN MARK CONSORTIUM WHICH USES DISTRIBUTED LEDGER TO IDENTIFY VALUE AROUND SPECIAL TRAITS AND CHARACTERISTICS.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0580270
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01128796
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0529539
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0229542
IRS990/PYSalariesCompEmpBnftPaidAmt0369715
IRS990/PYTotalExpensesAmt0899254
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01128796
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-18148
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/First5Years509Ind0X
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt01126122
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt01128796
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt02254918
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt087968
IRS990ScheduleA/OtherIncome509Grp/TotalAmt087968
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportTotal509Amt02254918
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01126122
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01128796
IRS990ScheduleA/Total509Grp/TotalAmt02254918
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01214090
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01128796
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02342886
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleC/DirectContactLegislatorsAmt027000
IRS990ScheduleC/DirectContactLegislatorsInd01
IRS990ScheduleC/GrantsOtherOrganizationsInd00
IRS990ScheduleC/MailingsMembersInd00
IRS990ScheduleC/MediaAdvertisementsInd00
IRS990ScheduleC/NotDescribedSection501c3Ind00
IRS990ScheduleC/OtherActivitiesInd00
IRS990ScheduleC/PaidStaffOrManagementInd01
IRS990ScheduleC/PublicationsOrBroadcastInd00
IRS990ScheduleC/RalliesDemonstrationsInd00
IRS990ScheduleC/TotalLobbyingExpendituresAmt027000
IRS990ScheduleC/VolunteersInd01
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01232238
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01214090
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt01232238
IRS990ScheduleD/TotalRevenuePerForm990Amt01214090
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01214090
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01232238
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/Form990OfOtherOrganizationsInd0X
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0165000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt014027
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0PETER A NELSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0179027
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE FORM 990 IS PROVIDED TO THE BOARD FOR THEIR REVIEW AND APPROVAL PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD IS ASKED TO SUBMIT WRITTEN CONFLICT DOCUMENTS TO DETERMINE IF A POSSIBLE CONFLICT WAS PRESENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS IS CONSULTED. THE ED'S SALARY WAS ESTABLISHED BASED ON THE SALARY OF HIS PREVIOUS EMPLOYMENT. THE SALARY OF KEY EMPLOYEES IS SET BY THE EXECUTIVE DIRECTOR, AND DISCLOSED TO THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AGLAUNCH INITIATIVE WILL MAKE AVAILABLE ANY GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND/OR FINANCIAL STATEMENTS UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONTRACT LABOR: PROGRAM SERVICE EXPENSES 5,400. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,400. CONSULTING FEES: PROGRAM SERVICE EXPENSES 203,194. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 500. TOTAL EXPENSES 203,694. STARTCO FEES: PROGRAM SERVICE EXPENSES 40,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 40,000.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0TN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0316230
IRS990/TotalAssetsEOYAmt0460883
IRS990/TotalAssetsGrp/BOYAmt0316230
IRS990/TotalAssetsGrp/EOYAmt0460883
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt01126122
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt071366
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0220156
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0940716
IRS990/TotalFunctionalExpensesGrp/TotalAmt01232238
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt086688
IRS990/TotalLiabilitiesEOYAmt0249489

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