Civic Intelligence

Accelerating Circularity Inc.

990 • Fiscal year 2021 • EIN 84-3906295

Jan 01, 2021 to Dec 31, 2021 • Filed on Aug 02, 2022

Organization ProfileWWW.ACCELERATINGCIRCULARITY.ORG
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

16th percentile

0.00x

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

17th percentile

0.00x

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

69th percentile

25%

Higher net margin than 69% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2021

Asset Growth

59th percentile

14%

Faster asset growth than 59% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

4th percentile

-53%

Faster revenue growth than 4% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets16th percentile

Assets

Up

$1,543,837

Up $191,835 (+14%) from 2020

Net Assets

Up

$1,543,837

Up $196,635 (+15%) from 2020

Liabilities

Down

$0

Down $4,800 (-100%) from 2020

Revenue And Expenses
Liabilities / Revenue17th percentileNet Margin69th percentile

Revenue

Down

$784,623

Down $883,767 (-53%) from 2020

Expenses

Up

$587,988

Up $241,326 (+70%) from 2020

Net Income

Down

$196,635

Down $1,125,093 (-85%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth59th percentile

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

2021

Assets$1,543,837
Liabilities$0
Net Assets$1,543,837
Open 2021 Filing

Operations Trend

Revenue Growth4th percentile

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

2021

Revenue$784,623
Expenses$587,988
Net Income$196,635
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Aug 2, 2022
Return Version
2021v4.2
Gross Receipts
$784,623
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$1,145,070▼ $127,932
Pledges and Grants Receivable$79,000$398,767▲ $319,767
Total Assets$1,352,002$1,543,837▲ $191,835
Liabilities
Accounts Payable and Accrued Expenses$4,800$0▼ $4,800
Total Liabilities$4,800$0▼ $4,800
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,223,750$1,072,046▼ $151,704
Net Assets Without Donor Restrictions$123,452$471,791▲ $348,339
Total Net Assets Fund Balance$1,347,202$1,543,837▲ $196,635
Total Liabilities and Net Assets / Fund Balance$1,352,002$1,543,837▲ $191,835
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Karla MagruderPresidentFT$157,000$157,000

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$764,523
Program Service Revenue
$20,100
Investment Income
$0
Other Revenue
$0
All Other Contributions
$764,523
Change in Net Assets
$196,635
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$357,156
Other Expenses$230,832
Total Fundraising Expense$35,767
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$202,343--$202,343
Other Salaries and Wages$116,895$33,399$16,699$166,993
Current Officers, Directors, Trustees, and Key Employees$109,900$31,400$15,700$157,000
Payroll Taxes$21,763$6,218$3,109$31,090
Fees for Services Legal-$10,000-$10,000
Travel$6,053--$6,053
Office Expenses-$4,818-$4,818
Fees for Services Accounting-$3,053-$3,053
Other Employee Benefits$1,451$415$207$2,073
Insurance$1,473--$1,473
Information Technology-$681-$681
Other Expenses$361$103$52$516
Advertising$399--$399
Total Functional Expenses$462,134$90,087$35,767$587,988
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 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
2022-08-02
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
5
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 202,343. Management and general expenses 0. Fundraising expenses 0. Total expenses 202,343.”

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, 2021, 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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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
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 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 202,343. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 202,343.
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
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IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalCompGreaterThan150KInd01
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0462134
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KARLA MAGRUDER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
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ReturnHeader/BusinessOfficerGrp/SignatureDt02022-08-02
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SCHULMAN LOBEL ET AL LLP
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine2Txt0FLOOR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010018
ReturnHeader/PreparerPersonGrp/PhoneNum02128685781
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ADAM REISS
ReturnHeader/ReturnTs02022-08-02T13:14:23-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KARLA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MAGRUDER
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,543,837
Liabilities
$0
Net assets
$1,543,837
Revenue
$784,623
Expenses
$587,988
Net income
$196,635
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
2021Detailed filing. Detailed filing data is available for this year.$1.54$0.00$1.54$0.78$0.59$0.20
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.35$0.00$1.35$1.67$0.35$1.32