Civic Intelligence

Ashby Legacy Fund

990 • Fiscal year 2022 • EIN 83-2211346

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 13, 2023

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

17th percentile

0.00x

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

17th percentile

0.00x

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

89th percentile

50%

Higher net margin than 89% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

42nd percentile

$24,000

Higher top officer pay than 42% of similar nonprofits.

Top officer pay equals 4.6% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

65th percentile

8.5%

Faster asset growth than 65% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

89th percentile

83%

Faster revenue growth than 89% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets17th percentile

Assets

Up

$1,287,320

Up $100,910 (+8.5%) from 2021

Net Assets

Up

$1,287,320

Up $100,910 (+8.5%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue And Expenses
Liabilities / Revenue17th percentileNet Margin89th percentile

Revenue

Up

$526,586

Up $238,836 (+83%) from 2021

Expenses

Up

$263,935

Up $56,728 (+27%) from 2021

Net Income

Up

$262,651

Up $182,108 (+226%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth65th 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

2022

Assets$1,287,320
Liabilities$0
Net Assets$1,287,320
Open 2022 Filing

Operations Trend

Revenue Growth89th 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

2022

Revenue$526,586
Expenses$263,935
Net Income$262,651
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 13, 2023
Return Version
2022v5.0
Gross Receipts
$883,894
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$1,186,410$1,287,320▲ $100,910
Investments in Publicly Traded Securities$1,154,578$1,235,737▲ $81,159
Cash and Non-Interest-Bearing Accounts$31,752$51,583▲ $19,831
Prepaid Expenses and Deferred Charges$80$0▼ $80
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$1,186,410$1,287,320▲ $100,910
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,186,410$1,287,320▲ $100,910
Total Liabilities and Net Assets / Fund Balance$1,186,410$1,287,320▲ $100,910
Compensation and Service Providers
Top Officer Pay42nd percentile

Employees

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

Board Members and Trustees

NameTitle
Robert NelsonPresident
Al NiemannDirector
Dwight WalvatneDirector
Erin PetersonDirector
Heather DeweyDirector
John KentDirector
Nick OlsonDirector
Renee MelbyDirector
Suzanne WingDirector
Dallas RylanderDirector/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$542,336
Program Service Revenue
$0
Investment Income
$6,236
Other Revenue
$-21,986
All Other Contributions
$489,045
Change in Net Assets
$262,651
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$147,983
Other Expenses$91,952
Salaries, Compensation, and Employee Benefits$24,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$104,157--$104,157
Grants to Domestic Orgs$43,826--$43,826
Current Officers, Directors, Trustees, and Key Employees$12,000$12,000-$24,000
Information Technology$21,388--$21,388
Fees for Services Management$889$12,500-$13,389
Fees for Services Accounting$4,729--$4,729
Advertising$2,891--$2,891
Travel-$2,341-$2,341
Insurance$1,580--$1,580
Office Expenses$813--$813
Other Expenses$44,604$142-$142
Fees for Services Other$75--$75
Total Functional Expenses$236,952$26,983$0$263,935
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Ashby Public SchoolAshby, MN-To Provide Funding for Equipment, Curriculum and School Programs.$38,080
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$21,986
Fundraising Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fall Fundraiser$53,291-$8,466-
Total Events$53,291-$21,986$-21,986
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
2023-11-13
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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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,287,320
Liabilities
$0
Net assets
$1,287,320
Revenue
$526,586
Expenses
$263,935
Net income
$262,651
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