Civic Intelligence

Acg Legacy Fund

990 • Fiscal year 2022 • EIN 83-2728556

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 14, 2023

Organization ProfileN/A
316 1st Ave NWAitkin, MN 56431

(218) 927-2172

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

1st percentile

-691%

Higher net margin than 1% of similar nonprofits.

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

Top Officer Pay

59th percentile

$78,242

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 374.4% of source-year revenue.

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

Asset Growth

15th percentile

-13%

Faster asset growth than 15% of similar nonprofits.

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

Revenue Growth

1st percentile

-91%

Faster revenue growth than 1% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets17th percentile

Assets

Down

$1,130,614

Down $163,808 (-13%) from 2021

Net Assets

Down

$1,130,614

Down $163,658 (-13%) from 2021

Liabilities

Down

$0

Down $150 (-100%) from 2021

Revenue And Expenses
Liabilities / Revenue17th percentileNet Margin1st percentile

Revenue

Down

$20,900

Down $213,155 (-91%) from 2021

Expenses

Up

$165,312

Up $156,725 (+1825%) from 2021

Net Income

Down

-$144,412

Down $369,880 (-164%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth15th percentile

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

$3.0M$2.0M$1.0M$0Assets 2018: $1,760,105Liabilities 2018: $0Net Assets 2018: $1,760,1052018Assets 2019: $2,057,266Liabilities 2019: $13,100Net Assets 2019: $2,044,1662019Assets 2020: $1,156,896Liabilities 2020: $0Net Assets 2020: $1,156,8962020Assets 2021: $1,294,422Liabilities 2021: $150Net Assets 2021: $1,294,2722021Assets 2022: $1,130,614Liabilities 2022: $0Net Assets 2022: $1,130,6142022Assets 2023: $760,443Liabilities 2023: $0Net Assets 2023: $760,4432023Assets 2024: $439,643Liabilities 2024: $0Net Assets 2024: $439,6432024

Highlighted filing

2022

Assets$1,130,614
Liabilities$0
Net Assets$1,130,614
Open 2022 Filing

Operations Trend

Revenue Growth1st percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2018: $1,122,399Expenses 2018: $0Net Income 2018: $1,122,3992018Revenue 2019: $234,252Expenses 2019: $66,426Net Income 2019: $167,8262019Revenue 2020: $45,145Expenses 2020: $15,988Net Income 2020: $29,1572020Revenue 2021: $234,055Expenses 2021: $8,587Net Income 2021: $225,4682021Revenue 2022: $20,900Expenses 2022: $165,312Net Income 2022: -$144,4122022Revenue 2023: $513,668Expenses 2023: $960,254Net Income 2023: -$446,5862023Revenue 2024: $18,987Expenses 2024: $349,930Net Income 2024: -$330,9432024

Highlighted filing

2022

Revenue$20,900
Expenses$165,312
Net Income-$144,412
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 14, 2023
Return Version
2022v5.0
Gross Receipts
$20,900
Mission and Program Overview

Mission

To further the purposes of, support, and/or benefit aitkin county growth, inc. And its mission of economic development in aiktin county.

To further the purposes of, support, and/or benefit aitkin county growth, inc. And its mission of economic development in aitkin county.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$1,067,043$863,053▼ $203,990
Savings and Temporary Cash Investments$203,576$264,455▲ $60,879
Other Notes and Loans Receivable, Net$12,954--
Cash and Non-Interest-Bearing Accounts$10,849$3,106▼ $7,743
Total Assets$1,294,422$1,130,614▼ $163,808
Liabilities
Accounts Payable and Accrued Expenses$150--
Total Liabilities$150$0▼ $150
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,294,272$1,130,614▼ $163,658
Total Net Assets Fund Balance$1,294,272$1,130,614▼ $163,658
Total Liabilities and Net Assets / Fund Balance$1,294,422$1,130,614▼ $163,808

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$863,053--
Compensation and Service Providers
Top Officer Pay59th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Stan GustafsonExecutive DiPT$78,242$78,242

Board Members and Trustees

NameTitle
Genevieve FielderBoard Chair
Pat MurphyBoard Chair
Pat MurphyBoard Vice C
Mark JeffersDirector
Mary PoetzDirector
John SloanSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$3,288
Other Revenue
$17,612
Change in Net Assets
$-144,412
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$165,312
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting-$8,384-$8,384
Other Expenses$108--$108
Interest$39--$39
Total Functional Expenses$156,928$8,384$0$165,312
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The chairman of the board reviews and approves the 990 before filing.”

Form 990, Page 6, Part VI, Line 19

“Documents of public record are made available upon reasonable request.”

Filing and Contact Details

Filer

Filer Name
Acg Legacy Fund
EIN
83-2728556
Phone
2189272172
Address
316 1ST AVE NW, AITKIN, MN 56431

Signing Officer

Name
Pat Murphy
Title
Board Chair
Phone
2189272172
Signed
2023-11-14

Organization Details

Principal Officer
Pat Murphy
Formed
2018
Legal Domicile
Mn
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
7

Preparer

Firm
B Johnson & Assoc Ltd
Address
416 S 6TH ST STE 200, BRAINERD, MN 56401-3580
Preparer
Christopher B Ford CPA
Phone
2188293501
Raw XML Appendix374 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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ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0PAT MURPHY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD CHAIR
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ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ACG LEGACY FUND
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ReturnHeader/Filer/PhoneNum02189272172
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BRAINERD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
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ReturnHeader/PreparerPersonGrp/PhoneNum02188293501
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHRISTOPHER B FORD CPA
ReturnHeader/ReturnTs02023-11-15T14:13:34-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0PAT
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MURPHY
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,130,614
Liabilities
$0
Net assets
$1,130,614
Revenue
$20,900
Expenses
$165,312
Net income
-$144,412
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.44$0.00$0.44$0.02$0.35$0.33
2023Detailed filing. Detailed filing data is available for this year.$0.76$0.00$0.76$0.51$0.96$0.45
2022Detailed filing. Detailed filing data is available for this year.$1.13$0.00$1.13$0.02$0.17$0.14
2021Detailed filing. Detailed filing data is available for this year.$1.29$0.00$1.29$0.23$0.01$0.23
2020Detailed filing. Detailed filing data is available for this year.$1.16$0.00$1.16$0.05$0.02$0.03
2019Detailed filing. Detailed filing data is available for this year.$2.06$0.01$2.04$0.23$0.07$0.17
2018Detailed filing. Detailed filing data is available for this year.$1.76$0.00$1.76$1.12$0.00$1.12