Civic Intelligence

Accelerating Circularity Inc.

990 • Fiscal year 2020 • EIN 84-3906295

Jan 01, 2020 to Dec 31, 2020 • Filed on Sep 28, 2021

Organization ProfileWWW.ACCELERATINGCIRCULARITY.ORG

View Organization Page

32 Briar Brook LaneCampbell Hall, NY 10916

(917) 410-3188

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

22nd percentile

0.00x

Higher debt load relative to assets than 22% of similar nonprofits.

2020 filings • NTEE C • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

16th percentile

0.00x

Higher debt load relative to revenue than 16% of similar nonprofits.

2020 filings • NTEE C • $1M-$5M nonprofits • Source year 2020

Net Margin

97th percentile

79%

Higher net margin than 97% of similar nonprofits.

2020 filings • NTEE C • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

87th percentile

$142,644

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 8.5% of source-year revenue.

2020 filings • NTEE C • $1M-$5M nonprofits • Source year 2020

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Balance Sheet
Liabilities / Assets22nd percentile

Assets

$1,352,002

No earlier filing loaded for comparison.

Net Assets

$1,347,202

No earlier filing loaded for comparison.

Liabilities

$4,800

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue16th percentileNet Margin97th percentile

Revenue

$1,668,390

No earlier filing loaded for comparison.

Expenses

$346,662

No earlier filing loaded for comparison.

Net Income

$1,321,728

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$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

2020

Assets$1,352,002
Liabilities$4,800
Net Assets$1,347,202
Open 2020 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this 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

2020

Revenue$1,668,390
Expenses$346,662
Net Income$1,321,728
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Sep 28, 2021
Return Version
2020v4.1
Gross Receipts
$1,668,390
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-$1,273,002-
Pledges and Grants Receivable$25,474$79,000▲ $53,526
Total Assets$25,474$1,352,002▲ $1,326,528
Liabilities
Accounts Payable and Accrued Expenses-$4,800-
Total Liabilities$0$4,800▲ $4,800
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$1,223,750▲ $1,223,750
Net Assets Without Donor Restrictions$25,474$123,452▲ $97,978
Total Net Assets Fund Balance$25,474$1,347,202▲ $1,321,728
Total Liabilities and Net Assets / Fund Balance$25,474$1,352,002▲ $1,326,528
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Karla MagruderPresidentFT$142,644$142,644

Board Members and Trustees

NameTitle
Alice HartleyDirector
Eileen MockusDirector
Kate KitchenerDirector
Tricia CareySecretary
Edward DenesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,638,390
Program Service Revenue
$30,000
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,638,390
Change in Net Assets
$1,321,728

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,668,390
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,668,390
Total Revenue per Form 990
$1,668,390
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$184,989
Other Expenses$161,673
Total Fundraising Expense$27,817
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$92,719$28,529$21,396$142,644
Fees for Services Other$130,433--$130,433
Payroll Taxes$27,072$8,330$6,247$41,649
Fees for Services Legal-$20,320-$20,320
Advertising$3,800--$3,800
Office Expenses-$2,685-$2,685
Insurance$2,346--$2,346
Information Technology-$1,540-$1,540
Other Employee Benefits$452$139$105$696
Other Expenses$300$92$69$461
Travel$88--$88
Total Functional Expenses$257,210$61,635$27,817$346,662

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$346,662
Total Expenses per Audited Statements$346,662
Total Expenses per Form 990$346,662
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
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 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
32 BRIAR BROOK LANE, CAMPBELL HALL, NY 10916

Signing Officer

Name
Karla Magruder
Title
President
Phone
9174103188
Signed
2021-09-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karla Magruder
Formed
2019
Legal Domicile
De
Voting Board Members
6
Independent Board Members
5
Employees
1
Volunteers
0

Preparer

Firm
Schulman Lobel Et Al 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 130,433. Management and general expenses 0. Fundraising expenses 0. Total expenses 130,433.”

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, 2020, 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 examinations.”

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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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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 130,433. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 130,433.
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,352,002
Liabilities
$4,800
Net assets
$1,347,202
Revenue
$1,668,390
Expenses
$346,662
Net income
$1,321,728
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.33$0.09$2.25$0.84$1.47$0.64
2023Summary only. Only limited summary data is available for this year.$3.04$0.16$2.88$2.37$1.29$1.08
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.85$0.05$1.81$1.09$0.82$0.26
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.54$0.00$1.54$0.78$0.59$0.20
2020Detailed filing. Detailed filing data is available for this year.$1.35$0.00$1.35$1.67$0.35$1.32