Civic Intelligence

Aglaunch Initiative

990 • Fiscal year 2023 • EIN 83-0995119

Jul 01, 2022 to Jun 30, 2023 • Filed on May 09, 2024

Organization ProfileWWW.AGLAUNCH.COM

View Organization Page

1319 Heistan PlaceMemphis, TN 38103

(901) 443-6463

Siviq Scores

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

Liabilities / Assets

91st percentile

0.82x

Higher debt load relative to assets than 91% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

85th percentile

0.72x

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

25th percentile

-8.0%

Higher net margin than 25% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

89th percentile

$187,421

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 7.7% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

80th percentile

25%

Faster asset growth than 80% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

29th percentile

-6.1%

Faster revenue growth than 29% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$2,129,660

Up $432,128 (+25%) from 2022

Net Assets

Down

$375,391

Down $204,664 (-35%) from 2022

Liabilities

Up

$1,754,269

Up $636,792 (+57%) from 2022

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin25th percentile

Revenue

Down

$2,426,005

Down $157,340 (-6.1%) from 2022

Expenses

Up

$2,619,849

Up $206,514 (+8.6%) from 2022

Net Income

Down

-$193,844

Down $363,854 (-214%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth80th percentile

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

2023

Assets$2,129,660
Liabilities$1,754,269
Net Assets$375,391
Open 2023 Filing

Operations Trend

Revenue Growth29th percentile

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

2023

Revenue$2,426,005
Expenses$2,619,849
Net Income-$193,844
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 9, 2024
Return Version
2022v5.0
Gross Receipts
$2,426,005
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$938,372$1,541,789▲ $603,417
Pledges and Grants Receivable$589,697$443,175▼ $146,522
Other Notes and Loans Receivable, Net$69,000$142,196▲ $73,196
Total Assets$1,599,569$2,129,660▲ $530,091
Other Assets Total$2,500$2,500→ $0
Liabilities
Deferred Revenue$819,700$1,709,536▲ $889,836
Accounts Payable and Accrued Expenses$99,592$44,733▼ $54,859
Mortgage Notes Payable Secured by Investment Property$8,722--
Total Liabilities$928,014$1,754,269▲ $826,255
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$671,555$375,391▼ $296,164
Total Net Assets Fund Balance$671,555$375,391▼ $296,164
Total Liabilities and Net Assets / Fund Balance$1,599,569$2,129,660▲ $530,091
Compensation and Service Providers
Top Officer Pay89th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Peter a NelsonExecutive Director/presidentFT$169,300$18,121$187,421
Margaret OldhamDirectorFT$132,667-$132,667
Rebecca KaufmanSenior DirectorFT$117,508-$117,508
Jade ClarkDirector of TalentFT$108,100-$108,100
Paul KennedySenior Innovation SpecialistFT$101,000-$101,000

Board Members and Trustees

NameTitle
Andy MccarrollDirector
Arielle MoinesterDirector
Corinne GouldDirector
Fayre CrossleyDirector
Karen LavertDirector
Marcus ColemanDirector
Rhedona RoseDirector
Samuel BrownSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$2,424,175
Program Service Revenue
$0
Investment Income
$1,830
Other Revenue
$0
All Other Contributions
$1,135,854
Change in Net Assets
$-193,844
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,184,100
Other Expenses$1,012,965
Grants and Similar Amounts Paid$422,784
Total Fundraising Expense$30,486
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$597,994$246,364$9,256$853,614
Fees for Services Other$412,548$12,675$320$425,543
Grants to Domestic Orgs$410,284--$410,284
Current Officers, Directors, Trustees, and Key Employees$136,413$31,688$199$168,300
Travel$107,897$12,368$6,443$126,708
Payroll Taxes$57,426$21,742$739$79,907
Other Employee Benefits$37,490$14,743$483$52,716
Fees for Services Accounting-$46,632-$46,632
Conferences and Meetings$42,135$2,349-$44,484
Pension Plan Contributions$21,246$8,044$273$29,563
Occupancy$197$22,400-$22,597
Fees for Services Legal$2,353$19,113-$21,466
Information Technology$-140$17,861-$17,721
Other Expenses$12,054$5,500$3,000$17,554
Grants to Domestic Individuals$12,500--$12,500
All Other Expenses$1,219$10,866$3$12,088
Advertising$1,823$9,743-$11,566
Fees for Services Lobbying--$7,500$7,500
Office Expenses$1,428$4,728$102$6,258
Insurance-$5,907-$5,907
Interest-$91-$91
Total Functional Expenses$2,039,413$549,950$30,486$2,619,849
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The Seam LLCMemphis, TN501(c)(3)Agriculture Pilot Program$274,493
Mississippi State UniversityMississippi State, MS501(c)(3)Agriculture Pilot Program$81,291
Tennessee State UniversityNashville, TN-Agriculture Pilot Program$54,499
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 38103

Signing Officer

Name
Peter Nelson
Title
Executive Director
Phone
9014436463
Signed
2024-05-09
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
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

“Contract labor: program service expenses 391,548. Management and general expenses 12,675. Fundraising expenses 320. Total expenses 404,543. Subcontractor/consultant services: program service expenses 21,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 21,000.”

FORM 990, PART XI, LINE 9:

“1/1/23: interest in aglaunch engine, llc assigned to aglaunch holdings, inc -102,320.”

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 rflect the changes once the audit has been finalized.”

Raw XML AppendixShowing 400 of 595 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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IRS990/OfficeExpensesGrp/ProgramServicesAmt01428
IRS990/OfficeExpensesGrp/TotalAmt06258
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt02500
IRS990/OtherAssetsTotalGrp/EOYAmt02500
IRS990/OtherChangesInNetAssetsAmt0-102320
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt0483
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt014743
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt037490
IRS990/OtherEmployeeBenefitsGrp/TotalAmt052716
IRS990/OtherExpensesGrp/Desc0AGLAUNCH ENGINE
IRS990/OtherExpensesGrp/Desc1PROGRAM SUPPLIES
IRS990/OtherExpensesGrp/Desc2DUES & SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc3SPONSORSHIPS
IRS990/OtherExpensesGrp/FundraisingAmt01984
IRS990/OtherExpensesGrp/FundraisingAmt1184
IRS990/OtherExpensesGrp/FundraisingAmt23000
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt035792
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt19751
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt211593
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt35500
IRS990/OtherExpensesGrp/ProgramServicesAmt0132728
IRS990/OtherExpensesGrp/ProgramServicesAmt135461
IRS990/OtherExpensesGrp/ProgramServicesAmt216357
IRS990/OtherExpensesGrp/ProgramServicesAmt312054
IRS990/OtherExpensesGrp/TotalAmt0170504
IRS990/OtherExpensesGrp/TotalAmt145396
IRS990/OtherExpensesGrp/TotalAmt230950
IRS990/OtherExpensesGrp/TotalAmt317554
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt09256
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0246364
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0597994
IRS990/OtherSalariesAndWagesGrp/TotalAmt0853614
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt069000
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0142196
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt0739
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt021742
IRS990/PayrollTaxesGrp/ProgramServicesAmt057426
IRS990/PayrollTaxesGrp/TotalAmt079907
IRS990/PensionPlanContributionsGrp/FundraisingAmt0273
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt08044
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt021246
IRS990/PensionPlanContributionsGrp/TotalAmt029563
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0589697
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0443175
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0PETER NELSON
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt02674383
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0287866
IRS990/PYInvestmentIncomeAmt0397
IRS990/PYOtherExpensesAmt0956038
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0261510
IRS990/PYSalariesCompEmpBnftPaidAmt01169366
IRS990/PYTotalExpensesAmt02413270
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02674780
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-193844
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt02424175
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt02677565
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt01378095
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt01126122
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt01128796
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt08734753
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt01830
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0397
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt02227
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt01830
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0397
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt02227
IRS990ScheduleA/InvestmentIncomeCYPct00.00030
IRS990ScheduleA/InvestmentIncomePYPct00.00010
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt087968
IRS990ScheduleA/OtherIncome509Grp/TotalAmt087968
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.98980
IRS990ScheduleA/PublicSupportPY509Pct00.98620
IRS990ScheduleA/PublicSupportTotal509Amt08734753
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt02424175
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt02677565
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01378095
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01126122
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01128796
IRS990ScheduleA/Total509Grp/TotalAmt08734753
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt02426005
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt02677962
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01378095
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01214090
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01128796
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt08824948
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/DirectContactLegislatorsAmt07500
IRS990ScheduleC/DirectContactLegislatorsInd01
IRS990ScheduleC/GrantsOtherOrganizationsInd00
IRS990ScheduleC/MailingsMembersInd00
IRS990ScheduleC/MediaAdvertisementsInd00
IRS990ScheduleC/NotDescribedSection501c3Ind00
IRS990ScheduleC/OtherActivitiesInd00
IRS990ScheduleC/PaidStaffOrManagementInd01
IRS990ScheduleC/PublicationsOrBroadcastInd00
IRS990ScheduleC/RalliesDemonstrationsInd00
IRS990ScheduleC/TotalLobbyingExpendituresAmt07500
IRS990ScheduleC/VolunteersInd01
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt012500
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0OPEN MARKET CONSORTIUM CONTRACTING WORK
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt01
IRS990ScheduleI/RecipientTable/CashGrantAmt0274493
IRS990ScheduleI/RecipientTable/CashGrantAmt181291
IRS990ScheduleI/RecipientTable/CashGrantAmt254499
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501(C)(3)
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/BusinessNameLine1Txt2TENNESSEE STATE UNIVERSITY
IRS990ScheduleI/RecipientTable/RecipientEIN0621826209
IRS990ScheduleI/RecipientTable/RecipientEIN1646000819
IRS990ScheduleI/RecipientTable/RecipientEIN2620786119

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$2,129,660
Liabilities
$1,754,269
Net assets
$375,391
Revenue
$2,426,005
Expenses
$2,619,849
Net income
-$193,844
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
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