Civic Intelligence

Acg Legacy Fund

990 • Fiscal year 2023 • EIN 83-2728556

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 15, 2024

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

32nd percentile

0.00x

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

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

32nd percentile

0.00x

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

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

4th percentile

-87%

Higher net margin than 4% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

81st percentile

$80,529

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 15.7% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

6th percentile

-33%

Faster asset growth than 6% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

100th percentile

2358%

Faster revenue growth than 100% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Down

$760,443

Down $370,171 (-33%) from 2022

Net Assets

Down

$760,443

Down $370,171 (-33%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue32nd percentileNet Margin4th percentile

Revenue

Up

$513,668

Up $492,768 (+2358%) from 2022

Expenses

Up

$960,254

Up $794,942 (+481%) from 2022

Net Income

Down

-$446,586

Down $302,174 (-209%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth6th 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

2023

Assets$760,443
Liabilities$0
Net Assets$760,443
Open 2023 Filing

Operations Trend

Revenue Growth100th 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

2023

Revenue$513,668
Expenses$960,254
Net Income-$446,586
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 15, 2024
Return Version
2023v5.0
Gross Receipts
$513,668
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
Savings and Temporary Cash Investments$264,455$685,843▲ $421,388
Investments Program Related$863,053$74,202▼ $788,851
Cash and Non-Interest-Bearing Accounts$3,106$398▼ $2,708
Total Assets$1,130,614$760,443▼ $370,171
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,130,614$760,443▼ $370,171
Total Net Assets Fund Balance$1,130,614$760,443▼ $370,171
Total Liabilities and Net Assets / Fund Balance$1,130,614$760,443▼ $370,171

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$74,202--
Compensation and Service Providers
Top Officer Pay81st percentile

Employees

NameTitleFull / Part TimeOtherTotal
Stan GustafsonExecutive DiPT$80,529$80,529

Board Members and Trustees

NameTitle
Skye FiedlerBoard Chair
Pat MurphyBoard Vice C
Gary TibbittsDirector
Mark BalounDirector
Mark JeffersDirector
Mary PoetzSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$17,611
Other Revenue
$496,057
Change in Net Assets
$-446,586
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$960,254
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
Other Expenses$119,000--$119,000
Fees for Services Accounting-$7,714-$7,714
Total Functional Expenses$952,540$7,714$0$960,254
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
Stan Gustafson
Title
Executive Director
Phone
2189272172
Signed
2024-11-15

Organization Details

Principal Officer
Skye Fiedler
Formed
2018
Legal Domicile
Mn
Voting Board Members
7
Independent Board Members
7
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 Appendix358 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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IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01130614
IRS990/TotalAssetsEOYAmt0760443
IRS990/TotalAssetsGrp/BOYAmt01130614
IRS990/TotalAssetsGrp/EOYAmt0760443
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt07714
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0952540
IRS990/TotalFunctionalExpensesGrp/TotalAmt0960254
IRS990/TotalGrossUBIAmt0525000
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01130614
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0760443
IRS990/TotalProgramServiceExpensesAmt0952540
IRS990/TotalRevenueGrp/ExclusionAmt0-14115
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02783
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0513668
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0525000
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01130614
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0760443
IRS990/TotReportableCompRltdOrgAmt080529
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0STAN GUSTAFSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum02189272172
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ACG LEGACY FUND
ReturnHeader/Filer/BusinessNameControlTxt0ACGL
ReturnHeader/Filer/EIN0832728556
ReturnHeader/Filer/PhoneNum02189272172
ReturnHeader/Filer/USAddress/AddressLine1Txt0316 1ST AVE NW
ReturnHeader/Filer/USAddress/CityNm0AITKIN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd056431
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411927189
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0B JOHNSON & ASSOC LTD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0416 S 6TH ST STE 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BRAINERD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0564013580
ReturnHeader/PreparerPersonGrp/PhoneNum02188293501
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHRISTOPHER B FORD CPA
ReturnHeader/ReturnTs02024-11-15T12:01:03-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$760,443
Liabilities
$0
Net assets
$760,443
Revenue
$513,668
Expenses
$960,254
Net income
-$446,586
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