Civic Intelligence

Ashby Legacy Fund

990 • Fiscal year 2023 • EIN 83-2211346

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 11, 2024

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.

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

Liabilities / Revenue

17th percentile

0.00x

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

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

Net Margin

78th percentile

24%

Higher net margin than 78% of similar nonprofits.

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

Top Officer Pay

43rd percentile

$24,000

Higher top officer pay than 43% of similar nonprofits.

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

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

Asset Growth

73rd percentile

16%

Faster asset growth than 73% of similar nonprofits.

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

Revenue Growth

9th percentile

-38%

Faster revenue growth than 9% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets17th percentile

Assets

Up

$1,497,622

Up $210,302 (+16%) from 2022

Net Assets

Up

$1,497,622

Up $210,302 (+16%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue17th percentileNet Margin78th percentile

Revenue

Down

$324,652

Down $201,934 (-38%) from 2022

Expenses

Down

$245,591

Down $18,344 (-7.0%) from 2022

Net Income

Down

$79,061

Down $183,590 (-70%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth73rd 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

2023

Assets$1,497,622
Liabilities$0
Net Assets$1,497,622
Open 2023 Filing

Operations Trend

Revenue Growth9th 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

2023

Revenue$324,652
Expenses$245,591
Net Income$79,061
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 11, 2024
Return Version
2023v5.1
Gross Receipts
$667,379
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$1,287,320$1,497,622▲ $210,302
Investments in Publicly Traded Securities$1,235,737$1,438,030▲ $202,293
Cash and Non-Interest-Bearing Accounts$51,583$59,592▲ $8,009
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$1,287,320$1,497,622▲ $210,302
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,287,320$1,497,622▲ $210,302
Total Liabilities and Net Assets / Fund Balance$1,287,320$1,497,622▲ $210,302
Compensation and Service Providers
Top Officer Pay43rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Heidi HoffExecutive DirectorPT$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
$300,930
Program Service Revenue
$0
Investment Income
$35,205
Other Revenue
$-11,483
All Other Contributions
$241,135
Change in Net Assets
$79,061
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$124,649
Other Expenses$96,942
Salaries, Compensation, and Employee Benefits$24,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$103,758--$103,758
Current Officers, Directors, Trustees, and Key Employees$12,000$12,000-$24,000
Grants to Domestic Orgs$20,891--$20,891
Fees for Services Management$3,096$15,000-$18,096
Travel-$6,945-$6,945
Fees for Services Accounting$3,150--$3,150
Information Technology$2,740--$2,740
Insurance$1,683--$1,683
Other Expenses$62,497$1,612-$1,612
Office Expenses$219--$219
Total Functional Expenses$210,034$35,557$0$245,591
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Ashby Public SchoolAshby, MN-To Provide Funding for Equipment, Curriculum and School Programs.$20,891
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$11,483
Fundraising Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fall Fundraiser$59,795-$1,808-
Total Events$59,795-$11,483$-11,483
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
2024-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert D Nelson
Formed
2018
Legal Domicile
Mn
Voting Board Members
11
Independent Board Members
9
Employees
0
Volunteers
30

Preparer

Firm
Northrock Partners Tax Services LLC
Address
225 SOUTH 6TH STREET SUITE 1400, MINNEAPOLIS, MN 55402
Preparer
Matthew B Olson
Phone
6123678800
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0542336
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0258665
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0381645
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0752538
IRS990ScheduleA/Total509Grp/TotalAmt02236114
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0302942
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0399515
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0765134
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02352297
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IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt059795
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt011483
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IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt01808
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt020
IRS990ScheduleI/RecipientTable/CashGrantAmt020891
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO PROVIDE FUNDING FOR EQUIPMENT, CURRICULUM AND SCHOOL PROGRAMS.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0ASHBY PUBLIC SCHOOL
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0300 BIRCH AVE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0ASHBY
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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
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,497,622
Liabilities
$0
Net assets
$1,497,622
Revenue
$324,652
Expenses
$245,591
Net income
$79,061
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