Civic Intelligence

Ashby Legacy Fund

990 • Fiscal year 2020 • EIN 83-2211346

Jan 01, 2020 to Dec 31, 2020 • Filed on Jul 20, 2021

Organization ProfileASHBYLEGACYFUND.ORG
PO Box 301Ashby, MN 56309

(612) 367-8800

Siviq Scores

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

Liabilities / Assets

27th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

27th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

83rd percentile

36%

Higher net margin than 83% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

57th percentile

$24,000

Higher top officer pay than 57% of similar nonprofits.

Top officer pay equals 6.3% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

74th percentile

27%

Faster asset growth than 74% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

10th percentile

-50%

Faster revenue growth than 10% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets27th percentile

Assets

Up

$903,980

Up $194,602 (+27%) from 2019

Net Assets

Up

$903,980

Up $194,602 (+27%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin83rd percentile

Revenue

Down

$383,422

Down $381,712 (-50%) from 2019

Expenses

Up

$247,222

Up $171,016 (+224%) from 2019

Net Income

Down

$136,200

Down $552,728 (-80%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth74th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2019: $709,378Liabilities 2019: $0Net Assets 2019: $709,3782019Assets 2020: $903,980Liabilities 2020: $0Net Assets 2020: $903,9802020Assets 2021: $1,186,410Liabilities 2021: $0Net Assets 2021: $1,186,4102021Assets 2022: $1,287,320Liabilities 2022: $0Net Assets 2022: $1,287,3202022Assets 2023: $1,497,622Liabilities 2023: $0Net Assets 2023: $1,497,6222023Assets 2024: $1,800,019Liabilities 2024: $41,650Net Assets 2024: $1,758,3692024

Highlighted filing

2020

Assets$903,980
Liabilities$0
Net Assets$903,980
Open 2020 Filing

Operations Trend

Revenue Growth10th percentile

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

$800K$600K$400K$200K$0Revenue 2019: $765,134Expenses 2019: $76,206Net Income 2019: $688,9282019Revenue 2020: $383,422Expenses 2020: $247,222Net Income 2020: $136,2002020Revenue 2021: $287,750Expenses 2021: $207,207Net Income 2021: $80,5432021Revenue 2022: $526,586Expenses 2022: $263,935Net Income 2022: $262,6512022Revenue 2023: $324,652Expenses 2023: $245,591Net Income 2023: $79,0612023Revenue 2024: $365,388Expenses 2024: $163,285Net Income 2024: $202,1032024

Highlighted filing

2020

Revenue$383,422
Expenses$247,222
Net Income$136,200
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jul 20, 2021
Return Version
2020v4.1
Gross Receipts
$455,672
Mission and Program Overview

Mission

Alf is a community-led organization that invests in the preservation of ashby as a special place to live for generations to come. The specific purpose of the corporation is educational and charitable.

The specific purpose of the corporation is educational and charitable.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$709,378$903,980▲ $194,602
Investments in Publicly Traded Securities$566,704$882,042▲ $315,338
Cash and Non-Interest-Bearing Accounts$142,674$21,938▼ $120,736
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$709,378$903,980▲ $194,602
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$709,378$903,980▲ $194,602
Total Liabilities and Net Assets / Fund Balance$709,378$903,980▲ $194,602
Compensation and Service Providers
Top Officer Pay57th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Heidi HoffDirector/secretaryPT$24,000$24,000

Board Members and Trustees

NameTitle
Robert NelsonDirector/board Chair
Al NiemannDirector
Dwight WalvatneDirector
Erin PetersonDirector
Greg SmedsrudDirector
John KentDirector
Nick OlsonDirector
Renee MelbyDirector
Suzanne WingDirector
Dallas RylanderDirector/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$381,645
Program Service Revenue
$0
Investment Income
$17,870
Other Revenue
$-16,093
All Other Contributions
$347,102
Change in Net Assets
$136,200
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$196,540
Other Expenses$50,682
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$118,732--$118,732
Grants to Domestic Individuals$77,808--$77,808
Fees for Services Management$12,000$12,000-$24,000
Information Technology$9,503--$9,503
Travel$6,444--$6,444
Fees for Services Other$2,303--$2,303
Office Expenses$1,731--$1,731
Insurance$1,597--$1,597
Fees for Services Legal-$1,184-$1,184
Advertising$573--$573
Other Expenses$1,479$25-$25
Total Functional Expenses$232,170$15,052$0$247,222
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Ashby Public SchoolAshby, MN-To Provide Funding for Equipment, Curriculum and School Programs.$44,288
Ashby Senior CenterAshby, MN-Provided Funding for Much Needed Renovation Projects at the Senior Center$12,579
JC'S GROCERYAshby, MN-Covid Relief Grant Assistance$7,220
T&B'S SHORT STOPAshby, MN-Covid Relief Grant Assistance$6,045
Ashby Hardware HankAshby, MN-Covid Relief Grant Assistance$5,625
City RestaurantAshby, MN-Covid Relief Grant Assistance$5,170
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$16,093
Fundraising Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fall Fundraiser$34,543-$8,613-
Total Events$34,543-$16,093$-16,093
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
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

“No review will be conducted.”

Form 990, Part VI, Section C, Line 19

“Ashby legacy fund makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Ashby Legacy Fund
EIN
83-2211346
Phone
6123678800
Address
PO BOX 301, ASHBY, MN 56309

Signing Officer

Name
Robert Nelson
Title
Director
Phone
6123678800
Signed
2021-07-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert D Nelson
Formed
2018
Legal Domicile
Mn
Voting Board Members
11
Independent Board Members
10
Employees
0
Volunteers
30

Preparer

Firm
Northrock Partners Tax Services LLC
Address
225 SOUTH SIXTH STREET SUITE 1400, MINNEAPOLIS, MN 55402
Preparer
Matthew B Olson
Phone
6123678800
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IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0381645
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0752538
IRS990ScheduleA/Total509Grp/TotalAmt01134183
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0399515
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0765134
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01164649
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
IRS990ScheduleG/FundraisingEventInformationGrp/CashPrizesEvent1Amt05950
IRS990ScheduleG/FundraisingEventInformationGrp/CashPrizesTotalEventsAmt05950
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt034543
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt034543
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt016093
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0FALL FUNDRAISER
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt034543
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt034543
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0-16093
IRS990ScheduleG/FundraisingEventInformationGrp/NonCashPrizesEvent1Amt01530
IRS990ScheduleG/FundraisingEventInformationGrp/NonCashPrizesTotalEventsAmt01530
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt08613
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt08613
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt06300
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt169750
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt21758
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1TORNADO RELIEF
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt2COMMUNITY INITIATIVES
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt04
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt19
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt24
IRS990ScheduleI/RecipientTable/CashGrantAmt044288
IRS990ScheduleI/RecipientTable/CashGrantAmt17220
IRS990ScheduleI/RecipientTable/CashGrantAmt25170
IRS990ScheduleI/RecipientTable/CashGrantAmt36045
IRS990ScheduleI/RecipientTable/CashGrantAmt45625
IRS990ScheduleI/RecipientTable/CashGrantAmt512579
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO PROVIDE FUNDING FOR EQUIPMENT, CURRICULUM AND SCHOOL PROGRAMS.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1COVID RELIEF GRANT ASSISTANCE
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2COVID RELIEF GRANT ASSISTANCE
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3COVID RELIEF GRANT ASSISTANCE
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4COVID RELIEF GRANT ASSISTANCE
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5PROVIDED FUNDING FOR MUCH NEEDED RENOVATION PROJECTS AT THE SENIOR CENTER
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0ASHBY PUBLIC SCHOOL
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1JC'S GROCERY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2CITY RESTAURANT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3T&B'S SHORT STOP
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4ASHBY HARDWARE HANK
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5ASHBY SENIOR CENTER
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0300 BIRCH AVE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1117 MAIN ST
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2108 MAIN STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt3201 COUNTY HWY 82
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt4102 MELBY AVE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt5102 MAIN STREET
IRS990ScheduleI/RecipientTable/USAddress/CityNm0ASHBY
IRS990ScheduleI/RecipientTable/USAddress/CityNm1ASHBY
IRS990ScheduleI/RecipientTable/USAddress/CityNm2ASHBY
IRS990ScheduleI/RecipientTable/USAddress/CityNm3ASHBY
IRS990ScheduleI/RecipientTable/USAddress/CityNm4ASHBY
IRS990ScheduleI/RecipientTable/USAddress/CityNm5ASHBY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1MN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2MN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3MN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd4MN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd5MN
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd056309
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd156309
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd256309
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd356309
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd456309
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd556309
IRS990ScheduleI/Total501c3OrgCnt01
IRS990ScheduleI/TotalOtherOrgCnt05
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO REVIEW WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ASHBY LEGACY FUND MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0709378
IRS990/TotalAssetsEOYAmt0903980
IRS990/TotalAssetsGrp/BOYAmt0709378
IRS990/TotalAssetsGrp/EOYAmt0903980
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0381645
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt015052
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0232170
IRS990/TotalFunctionalExpensesGrp/TotalAmt0247222
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0709378
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0903980

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$903,980
Liabilities
$0
Net assets
$903,980
Revenue
$383,422
Expenses
$247,222
Net income
$136,200
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.80$0.04$1.76$0.37$0.16$0.20
2023Detailed filing. Detailed filing data is available for this year.$1.50$0.00$1.50$0.32$0.25$0.08
2022Detailed filing. Detailed filing data is available for this year.$1.29$0.00$1.29$0.53$0.26$0.26
2021Detailed filing. Detailed filing data is available for this year.$1.19$0.00$1.19$0.29$0.21$0.08
2020Detailed filing. Detailed filing data is available for this year.$0.90$0.00$0.90$0.38$0.25$0.14
2019Detailed filing. Detailed filing data is available for this year.$0.71$0.00$0.71$0.77$0.08$0.69