Civic Intelligence

Aglaunch Initiative

990 • Fiscal year 2024 • EIN 83-0995119

Jul 01, 2023 to Jun 30, 2024 • Filed on May 06, 2025

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

92nd percentile

0.83x

Higher debt load relative to assets than 92% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

77th percentile

0.38x

Higher debt load relative to revenue than 77% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

25th percentile

-7.4%

Higher net margin than 25% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

88th percentile

$182,394

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 7.4% of source-year revenue.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

2nd percentile

-48%

Faster asset growth than 2% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

38th percentile

1.5%

Faster revenue growth than 38% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Down

$1,117,960

Down $1,011,700 (-48%) from 2023

Net Assets

Down

$192,758

Down $182,633 (-49%) from 2023

Liabilities

Down

$925,202

Down $829,067 (-47%) from 2023

Revenue

Up

$2,462,523

Up $36,518 (+1.5%) from 2023

Expenses

Up

$2,645,156

Up $25,307 (+1.0%) from 2023

Net Income

Up

-$182,633

Up $11,211 (+5.8%) from 2023

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

2024

Assets$1,117,960
Liabilities$925,202
Net Assets$192,758

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

2024

Revenue$2,462,523
Expenses$2,645,156
Net Income-$182,633
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 6, 2025
Return Version
2023v6.0
Gross Receipts
$2,462,523
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$1,541,789$568,228▼ $973,561
Pledges and Grants Receivable$443,175$441,497▼ $1,678
Other Notes and Loans Receivable, Net$142,196$106,735▼ $35,461
Total Assets$2,129,660$1,117,960▼ $1,011,700
Other Assets Total$2,500$1,500▼ $1,000
Liabilities
Deferred Revenue$1,709,536$804,285▼ $905,251
Accounts Payable and Accrued Expenses$44,733$70,917▲ $26,184
Other Liabilities$0$50,000▲ $50,000
Total Liabilities$1,754,269$925,202▼ $829,067
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$375,391$192,758▼ $182,633
Total Net Assets Fund Balance$375,391$192,758▼ $182,633
Total Liabilities and Net Assets / Fund Balance$2,129,660$1,117,960▼ $1,011,700
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Peter a NelsonExecutive Director/presideFT$167,974$14,420$182,394
Margaret OldhamVP of InnovationFT$142,519$4,562$147,081
Rajah BrownVP of OperationsFT$120,480$2,950$123,430

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$2,457,573
Program Service Revenue
$0
Investment Income
$4,950
Other Revenue
$0
All Other Contributions
$1,282,234
Change in Net Assets
$-182,633
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,295,068
Other Expenses$706,070
Grants and Similar Amounts Paid$644,018
Total Fundraising Expense$12,098
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$630,887$267,579$6,579$905,045
Grants to Domestic Orgs$629,018--$629,018
Fees for Services Other$270,406$16,668-$287,074
Current Officers, Directors, Trustees, and Key Employees$148,607$16,294$3,074$167,975
Other Employee Benefits$66,320$44,652$1,431$112,403
Conferences and Meetings$101,625$8,484-$110,109
Payroll Taxes$57,968$21,947$746$80,661
Fees for Services Accounting$5,539$50,100-$55,639
Information Technology$20,095$33,835-$53,930
Travel$46,244$4,652-$50,896
Pension Plan Contributions$20,830$7,886$268$28,984
Fees for Services Legal-$26,448-$26,448
Occupancy-$23,197-$23,197
Grants to Domestic Individuals$15,000--$15,000
Advertising$8,783$4,209-$12,992
All Other Expenses$1,534$5,722-$7,256
Insurance-$6,154-$6,154
Office Expenses$3,703$2,019-$5,722
Other Expenses$1,324$3,243-$4,567
Total Functional Expenses$2,045,352$587,706$12,098$2,645,156
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The Seam LLCMemphis, TN501(c)(3)Agriculture Pilot Program$559,298
Tennessee State UniversityNashville, TN-Agriculture Pilot Program$52,593
Mississippi State UniversityMississippi State, MS501(c)(3)Agriculture Pilot Program$17,126
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
Line of Credit$50,000
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
2025-05-06
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
13
Volunteers
0

Preparer

Firm
Watkins Uiberall Pllc
Address
1661 AARON BRENNER DR STE 300, MEMPHIS, TN 38120
Preparer
Anne Dixon CPA
Phone
9017612720
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Contractual services: program service expenses 27,700. Management and general expenses 200. Fundraising expenses 0. Total expenses 27,900. Subcontractor/consultant services: program service expenses 242,706. Management and general expenses 16,468. Fundraising expenses 0. Total expenses 259,174.

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IRS990/PYTotalRevenueAmt02426005
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-182633
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt02457573
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt02424175
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt02677565
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt01378095
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt01126122
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt010063530
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt04950
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt01830
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0397
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt07177
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt04950
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt01830
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0397
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt07177
IRS990ScheduleA/InvestmentIncomeCYPct00.00070
IRS990ScheduleA/InvestmentIncomePYPct00.00030
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt087968
IRS990ScheduleA/OtherIncome509Grp/TotalAmt087968
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99060
IRS990ScheduleA/PublicSupportPY509Pct00.98980
IRS990ScheduleA/PublicSupportTotal509Amt010063530
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt02457573
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt02424175
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt02677565
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01378095
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01126122
IRS990ScheduleA/Total509Grp/TotalAmt010063530
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt02462523
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt02426005
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt02677962
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01378095
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01214090
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt010158675
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
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt050000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LINE OF CREDIT
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalLiabilityAmt050000
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt015000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0OPEN MARKET CONSORTIUM CONTRACTING WORK
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt01
IRS990ScheduleI/RecipientTable/CashGrantAmt0559298
IRS990ScheduleI/RecipientTable/CashGrantAmt117126
IRS990ScheduleI/RecipientTable/CashGrantAmt252593
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
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt03400 PLAYERS CLUB PKWY
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1245 BARR AVE MCARTHUR HALL
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt23500 JOHN A MERRITT BLVD
IRS990ScheduleI/RecipientTable/USAddress/CityNm0MEMPHIS
IRS990ScheduleI/RecipientTable/USAddress/CityNm1MISSISSIPPI STATE
IRS990ScheduleI/RecipientTable/USAddress/CityNm2NASHVILLE
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0TN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1MS
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2TN
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd038125
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd139762
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd237209
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/Total501c3OrgCnt03
IRS990ScheduleI/TotalOtherOrgCnt01
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/Form990OfOtherOrganizationsInd0X
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0167974
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt014420
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0PETER A NELSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR/PRESIDE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0182394
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 WAS REVIEWED BY THE EXECUTIVE DIRECTOR AND THE VICE PRESIDENT OF OPERATIONS PRIOR TO FILING.

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