Civic Intelligence

Accelerating Circularity Inc

EIN 84-3906295 • 501(c)3 • Middle Town, NY

Profile

To establish systems that will use the embedded value and resources in existing textiles for new products, reducing the millions of tons of textile waste annually going into landfills and thereby supporting the reduction of the industry's ghg emissions.

22 E Main St 1006Middle Town, NY 10940

www.acceleratingcircularity.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

43rd percentile

0.04x

Higher debt load relative to assets than 43% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

54th percentile

0.10x

Higher debt load relative to revenue than 54% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

4th percentile

-76%

Higher net margin than 4% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

8th percentile

-23%

Faster asset growth than 8% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

3rd percentile

-65%

Faster revenue growth than 3% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Down

$2,333,264

Down $707,121 (-23%) from 2023

Liabilities

Down

$85,449

Down $72,106 (-46%) from 2023

Net Assets

Down

$2,247,815

Down $635,015 (-22%) from 2023

Revenue

Down

$835,976

Down $1,531,423 (-65%) from 2023

Expenses

Up

$1,470,991

Up $180,843 (+14%) from 2023

Net Income

Down

-$635,015

Down $1,712,266 (-159%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0Assets 2020: $1,352,002Liabilities 2020: $4,800Net Assets 2020: $1,347,2022020Assets 2021: $1,543,837Liabilities 2021: $0Net Assets 2021: $1,543,8372021Assets 2022: $1,850,579Liabilities 2022: $45,000Net Assets 2022: $1,805,5792022Assets 2023: $3,040,385Liabilities 2023: $157,555Net Assets 2023: $2,882,8302023Assets 2024: $2,333,264Liabilities 2024: $85,449Net Assets 2024: $2,247,8152024

Highlighted filing

2024

Assets$2,333,264
Liabilities$85,449
Net Assets$2,247,815

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2020: $1,668,390Expenses 2020: $346,662Net Income 2020: $1,321,7282020Revenue 2021: $784,623Expenses 2021: $587,988Net Income 2021: $196,6352021Revenue 2022: $1,085,091Expenses 2022: $823,349Net Income 2022: $261,7422022Revenue 2023: $2,367,399Expenses 2023: $1,290,148Net Income 2023: $1,077,2512023Revenue 2024: $835,976Expenses 2024: $1,470,991Net Income 2024: -$635,0152024

Highlighted filing

2024

Revenue$835,976
Expenses$1,470,991
Net Income-$635,015

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Jul 10, 2025
Return Version
2024v5.2
Gross Receipts
$835,976
Mission and Program Overview

Mission

To establish systems that will use the embedded value and resources in existing textiles for new products, reducing the millions of tons of textile waste annually going into landfills and thereby supporting the reduction of the industry's ghg emissions.

Operates for the charitable, education and scientific purposes of transforming textile supply chains from linear to circular, thereby reducing textile waste and helping the environment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,889,053$2,195,956▼ $693,097
Accounts Receivable$109,944$137,308▲ $27,364
Pledges and Grants Receivable$40,721$0▼ $40,721
Total Assets$3,040,385$2,333,264▼ $707,121
Other Assets Total$667$0▼ $667
Liabilities
Accounts Payable and Accrued Expenses$157,555$85,449▼ $72,106
Total Liabilities$157,555$85,449▼ $72,106
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,504,081$1,129,839▼ $374,242
Net Assets Without Donor Restrictions$1,378,749$1,117,976▼ $260,773
Total Net Assets Fund Balance$2,882,830$2,247,815▼ $635,015
Total Liabilities and Net Assets / Fund Balance$3,040,385$2,333,264▼ $707,121
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Karla MagruderPresidentFT$225,000$225,000
Shelly GottschamerVice PresidentFT$160,000$160,000

Board Members and Trustees

NameTitle
Alice HartleyDirector
Eileen MockusDirector
Steven BethellDirector
Tricia CareySecretary
Edward DenesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$15,000
Program Service Revenue
$748,252
Investment Income
$72,088
Other Revenue
$636
All Other Contributions
$15,000
Change in Net Assets
$-635,015
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$774,020
Other Expenses$696,971
Total Fundraising Expense$133,058
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons$250,250$77,000$57,750$385,000
Fees for Services Other$346,223--$346,223
Other Salaries and Wages$200,630$61,732$46,299$308,661
Travel$71,605$22,032$16,524$110,161
Other Employee Benefits$31,427$9,670$7,252$48,349
Payroll Taxes$20,806$6,402$4,802$32,010
Fees for Services Accounting-$26,989-$26,989
Fees for Services Legal$10,499--$10,499
Office Expenses-$10,166-$10,166
Insurance-$5,573-$5,573
Other Expenses$1,866$574$431$2,871
Total Functional Expenses$1,078,364$259,569$133,058$1,470,991
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
Yes
Annual disclosure for covered persons
Yes
Audit committee
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, Part VI, Section B, Line 11B

Line 11a explanation - each director was provided a copy of the form 990 prior to filing. The president and independent cpa were available to answer any questions.

Form 990, Part VI, Section B, Line 12C

Officers and trustees are required to sign a conflict of interest statement annually. Officers and trustees are also required to disclose at board meetings any change since signing the disclosure statement.

Form 990, Part VI, Section C, Line 19

All documents are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Accelerating Circularity Inc
EIN
84-3906295
Phone
9174103188
Address
22 E MAIN ST 1006, MIDDLE TOWN, NY 10940

Signing Officer

Name
Karla Magruder
Title
President
Phone
9174103188
Signed
2025-07-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karla Magruder
Formed
2019
Legal Domicile
De
Voting Board Members
7
Independent Board Members
5
Employees
9
Volunteers
0

Preparer

Firm
Schulman Lobel Llp
Address
1001 AVENUE OF THE AMERICAS 2ND, FLOOR, NEW YORK, NY 10018
Preparer
Adam Reiss
Phone
2128685781
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Consulting fees: program service expenses 346,223. Management and general expenses 0. Fundraising expenses 0. Total expenses 346,223.

Financial Statement Notes

Form 990, Part XIII, Line 2

The organization is required to disclose unrecognized tax benefits resulting from uncertain tax positions. At december 31, 2024, the organization did not have any unrecognized tax benefits or liabilities. The organization operates in the united states and in state and local jurisdictions, and the previous three years remain subject to examination by tax authorities. There are presently no ongoing income tax examinations.

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE ORGANIZATION RECEIVED A LARGE DONATION FROM A FOUNDATION IN 2023 AMOUNTING TO $1,500,000 THAT IS NOT EXPECTED TO BE RECEIVED ON AN ANNUAL BASIS. THE SIGNIFICANT FUNDING WAS RECEIVED SOLELY TO SUPPORT THE ORGANIZATION'S KEY PROGRAMMATIC ACTIVITIES OVER A THREE YEAR PERIOD. EXCLUDING THIS UNUSUAL GRANT AMOUNT WOULD RESULT IN A PUBLIC SUPPORT PERCENTAGE FOR 2024 AMOUNTING TO 42.74%. THE ORGANIZATION'S MANAGEMENT AND BOARD OF DIRECTORS HAVE PREVIOUSLY IMPLEMENTED ALL THE REQUIRED GOVERNANCE POLICIES PRIOR TO RAISING ANY FUNDS FROM THE GENERAL PUBLIC. ADDITIONALLY, THE ORGANIZATION'S MANAGEMENT AND BOARD OF DIRECTORS HAVE DEVELOPED A FORMAL PLAN FOR RAISING CONTRIBUTIONS FROM A DIVERSIFIED GROUP OF DONORS ON AN ANNUAL BASIS WITH THE GOAL OF MEETING THE 33 1/3% PUBLIC SUPPORT TEST IN THE FUTURE.
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IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt0831044
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt020100
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt030000
IRS990ScheduleA/OtherIncome170Grp/TotalAmt02474623
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.20480
IRS990ScheduleA/PublicSupportTotal170Amt01379899
IRS990ScheduleA/SubstantialContributorsTotAmt02792011
IRS990ScheduleA/TenPctFactsCrcmstncsTestCYInd0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt015000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01500000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0253997
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0764523
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01638390
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt04171910
IRS990ScheduleA/TotalSupportAmt06738705
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
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS REQUIRED TO DISCLOSE UNRECOGNIZED TAX BENEFITS RESULTING FROM UNCERTAIN TAX POSITIONS. AT DECEMBER 31, 2024, THE ORGANIZATION DID NOT HAVE ANY UNRECOGNIZED TAX BENEFITS OR LIABILITIES. THE ORGANIZATION OPERATES IN THE UNITED STATES AND IN STATE AND LOCAL JURISDICTIONS, AND THE PREVIOUS THREE YEARS REMAIN SUBJECT TO EXAMINATION BY TAX AUTHORITIES. THERE ARE PRESENTLY NO ONGOING INCOME TAX EXAMINATIONS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART XIII, LINE 2
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0225000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1160000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0KARLA MAGRUDER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1SHELLY GOTTSCHAMER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1VICE PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0225000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1160000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt10
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0LINE 11A EXPLANATION - EACH DIRECTOR WAS PROVIDED A COPY OF THE FORM 990 PRIOR TO FILING. THE PRESIDENT AND INDEPENDENT CPA WERE AVAILABLE TO ANSWER ANY QUESTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OFFICERS AND TRUSTEES ARE REQUIRED TO SIGN A CONFLICT OF INTEREST STATEMENT ANNUALLY. OFFICERS AND TRUSTEES ARE ALSO REQUIRED TO DISCLOSE AT BOARD MEETINGS ANY CHANGE SINCE SIGNING THE DISCLOSURE STATEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONSULTING FEES: PROGRAM SERVICE EXPENSES 346,223. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 346,223.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt03040385
IRS990/TotalAssetsEOYAmt02333264
IRS990/TotalAssetsGrp/BOYAmt03040385
IRS990/TotalAssetsGrp/EOYAmt02333264
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt015000
IRS990/TotalEmployeeCnt09
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0133058
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0259569
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01078364
IRS990/TotalFunctionalExpensesGrp/TotalAmt01470991
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0157555
IRS990/TotalLiabilitiesEOYAmt085449
IRS990/TotalLiabilitiesGrp/BOYAmt0157555
IRS990/TotalLiabilitiesGrp/EOYAmt085449
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02882830
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02247815
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01078364
IRS990/TotalProgramServiceRevenueAmt0748252
IRS990/TotalReportableCompFromOrgAmt0385000
IRS990/TotalRevenueGrp/ExclusionAmt072724
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0748252
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0835976
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03040385
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02333264
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/FundraisingAmt016524
IRS990/TravelGrp/ManagementAndGeneralAmt022032
IRS990/TravelGrp/ProgramServicesAmt071605
IRS990/TravelGrp/TotalAmt0110161
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt022 E MAIN ST 1006
IRS990/USAddress/CityNm0MIDDLE TOWN

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