Civic Intelligence

Aglaunch Initiative

990 • Fiscal year 2022 • EIN 83-0995119

Jul 01, 2021 to Jun 30, 2022 • Filed on Nov 29, 2023

Organization ProfileWWW.AGLAUNCH.COM
1319 Heistan PlaceMemphis, TN 38104

(901) 443-6463

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$1,599,569

Down $169,528 (-9.6%) from 2021

Net Assets

Up

$671,555

Up $261,510 (+64%) from 2021

Liabilities

Down

$928,014

Down $431,038 (-32%) from 2021

Revenue And Expenses

Revenue

Up

$2,674,780

Up $1,296,685 (+94%) from 2021

Expenses

Up

$2,413,270

Up $1,233,826 (+105%) from 2021

Net Income

Up

$261,510

Up $62,859 (+32%) from 2021

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 2022: $1,599,569Liabilities 2022: $928,014Net Assets 2022: $671,5552022Assets 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

2022

Assets$1,599,569
Liabilities$928,014
Net Assets$671,555
Open 2022 Filing

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 2022: $2,674,780Expenses 2022: $2,413,270Net Income 2022: $261,5102022Revenue 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

2022

Revenue$2,674,780
Expenses$2,413,270
Net Income$261,510
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Nov 29, 2023
Return Version
2021v4.2
Gross Receipts
$2,674,780
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
Cash and Non-Interest-Bearing Accounts$1,481,331$938,372▼ $542,959
Pledges and Grants Receivable$246,266$589,697▲ $343,431
Other Notes and Loans Receivable, Net$40,000$69,000▲ $29,000
Total Assets$1,769,097$1,599,569▼ $169,528
Other Assets Total$1,500$2,500▲ $1,000
Liabilities
Deferred Revenue$1,310,256$819,700▼ $490,556
Accounts Payable and Accrued Expenses$48,796$99,592▲ $50,796
Mortgage Notes Payable Secured by Investment Property-$8,722-
Total Liabilities$1,359,052$928,014▼ $431,038
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$410,045$671,555▲ $261,510
Total Net Assets Fund Balance$410,045$671,555▲ $261,510
Total Liabilities and Net Assets / Fund Balance$1,769,097$1,599,569▼ $169,528
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Peter a NelsonExecutive DirectorFT$161,494$17,919$179,413
Rebecca KaufmanSenior DirectorFT$122,344-$122,344
Connie BowenDirector Innovation & InveFT$105,175-$105,175
Jade ClarkDirector of TalentFT$105,175-$105,175

Board Members and Trustees

NameTitle
Andy MccarrollDirector
Carolyn HardyDirector
Corinne GouldDirector
Fayre CrossleyDirector
Karen LavertDirector
Rhedona RoseDirector
Samuel BrownSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$2,674,383
Program Service Revenue
$0
Investment Income
$397
Other Revenue
$0
Change in Net Assets
$261,510
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,169,366
Other Expenses$956,038
Grants and Similar Amounts Paid$287,866
Total Fundraising Expense$78,624
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$652,173$147,242$52,307$851,722
Fees for Services Other$628,552$18,019$1,250$647,821
Grants to Domestic Orgs$282,866--$282,866
Current Officers, Directors, Trustees, and Key Employees$124,350$27,454$9,690$161,494
Payroll Taxes$61,334$13,520$4,448$79,302
Travel$71,449$6,302$279$78,030
Other Employee Benefits$43,442$1,610$3,351$48,403
Pension Plan Contributions$23,108$3,602$1,735$28,445
Fees for Services Accounting-$21,812-$21,812
Occupancy-$18,000-$18,000
Conferences and Meetings$16,405--$16,405
Fees for Services Legal$8,512$6,559-$15,071
Information Technology-$12,373-$12,373
Office Expenses$9,268$2,224$15$11,507
Other Expenses$9,250$20,760$136$9,250
All Other Expenses$552$7,103-$7,655
Advertising$6,422$901-$7,323
Fees for Services Lobbying--$5,413$5,413
Grants to Domestic Individuals$5,000--$5,000
Insurance-$2,817-$2,817
Interest-$2,650-$2,650
Total Functional Expenses$2,021,036$313,610$78,624$2,413,270
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The Seam LLCMemphis, TN-Agriculture Pilot Program$187,386
Mississippi State UniversityMississippi State, MS-Agriculture Pilot Program$60,924
Winrock SolutionsLittle Rock, AR-Agriculture Pilot Program$34,555
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
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

“The 990 was reviewed by the executive director and the vice president of operations 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 is present.”

Form 990, Part VI, Section B, Line 15

“The board of directors is consulted. The executive director'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

“The organization's governing documents, conflict of interest policy, and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Aglaunch Initiative
EIN
83-0995119
Phone
9014436463
Address
1319 HEISTAN PLACE, MEMPHIS, TN 38104

Signing Officer

Name
Peter Nelson
Title
Executive Director
Phone
9014436463
Signed
2023-11-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Peter Nelson
Formed
2018
Legal Domicile
Tn
Voting Board Members
6
Independent Board Members
6
Employees
11
Volunteers
0

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

“Consulting fees: program service expenses 60,250. Management and general expenses 300. Fundraising expenses 0. Total expenses 60,550. Contract labor: program service expenses 568,302. Management and general expenses 17,719. Fundraising expenses 1,250. Total expenses 587,271.”

Part XII, Line 2B

“Due to turnover in the finance department, the audit is still in process and the 990 will be amended if necessary to reflect the changes once the audit has been finalized.”

Amended Return

“The return is being amended to update revenue and balance sheet amounts previously reported.”

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IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt05000
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0395650
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0198651
IRS990/PYSalariesCompEmpBnftPaidAmt0778794
IRS990/PYTotalExpensesAmt01179444
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01378095
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0261510
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt02677565
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt01378095
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt01126122
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt01128796
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt06310578
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0397
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0397
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0397
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0397
IRS990ScheduleA/InvestmentIncomeCYPct00.00010
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt087968
IRS990ScheduleA/OtherIncome509Grp/TotalAmt087968
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.98620
IRS990ScheduleA/PublicSupportPY509Pct00.97640
IRS990ScheduleA/PublicSupportTotal509Amt06310578
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt02677565
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01378095
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01126122
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01128796
IRS990ScheduleA/Total509Grp/TotalAmt06310578
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt02677962
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01378095
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01214090
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01128796
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt06398943
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/DirectContactLegislatorsAmt05413
IRS990ScheduleC/DirectContactLegislatorsInd01
IRS990ScheduleC/GrantsOtherOrganizationsInd00
IRS990ScheduleC/MailingsMembersInd00
IRS990ScheduleC/MediaAdvertisementsInd00
IRS990ScheduleC/NotDescribedSection501c3Ind00
IRS990ScheduleC/OtherActivitiesInd00
IRS990ScheduleC/PaidStaffOrManagementInd01
IRS990ScheduleC/PublicationsOrBroadcastInd00
IRS990ScheduleC/RalliesDemonstrationsInd00
IRS990ScheduleC/TotalLobbyingExpendituresAmt05413
IRS990ScheduleC/VolunteersInd01
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt0187386
IRS990ScheduleI/RecipientTable/CashGrantAmt160924
IRS990ScheduleI/RecipientTable/CashGrantAmt234555
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt20
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0AGRICULTURE PILOT PROGRAM
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1AGRICULTURE PILOT PROGRAM
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2AGRICULTURE PILOT PROGRAM
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0THE SEAM LLC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1MISSISSIPPI STATE UNIVERSITY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2WINROCK SOLUTIONS
IRS990ScheduleI/RecipientTable/RecipientEIN0621826209
IRS990ScheduleI/RecipientTable/RecipientEIN1646000819
IRS990ScheduleI/RecipientTable/RecipientEIN2710603560
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt03400 PLAYERS CLUB PKWY STE 210
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1245 BARR AVE MCARTHUR HALL
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2204 E 4TH ST N
IRS990ScheduleI/RecipientTable/USAddress/CityNm0MEMPHIS
IRS990ScheduleI/RecipientTable/USAddress/CityNm1MISSISSIPPI STATE
IRS990ScheduleI/RecipientTable/USAddress/CityNm2LITTLE ROCK
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0TN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1MS
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2AR
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd038125
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd139762
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd272114
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0IN ADDITION TO FREQUENT MEETINGS AND CHECK-INS, THE ORGANIZATION RECEIVES AND MONITORS PROGRESS REPORTS FROM SUBRECIPIENTS, AND TAKES CORRECTIVE ACTIONS AS NECESSARY.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt01
IRS990ScheduleI/TotalOtherOrgCnt02
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/Form990OfOtherOrganizationsInd0X
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0161494
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,599,569
Liabilities
$928,014
Net assets
$671,555
Revenue
$2,674,780
Expenses
$2,413,270
Net income
$261,510
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.12$0.93$0.19$2.46$2.65$0.18
2023Detailed filing. Detailed filing data is available for this year.$2.13$1.75$0.38$2.43$2.62$0.19
2022Detailed filing. Detailed filing data is available for this year.$1.70$1.12$0.58$2.58$2.41$0.17
2022Detailed filing. Detailed filing data is available for this year.$1.60$0.93$0.67$2.67$2.41$0.26
2021Detailed filing. Detailed filing data is available for this year.$1.77$1.36$0.41$1.38$1.18$0.20
2020Detailed filing. Detailed filing data is available for this year.$0.46$0.25$0.21$1.21$1.23$0.02
2019Detailed filing. Detailed filing data is available for this year.$0.32$0.09$0.23$1.13$0.90$0.23