Civic Intelligence

Accelerating Circularity Inc.

990 • Fiscal year 2022 • EIN 84-3906295

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 07, 2023

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

46th percentile

0.02x

Higher debt load relative to assets than 46% of similar nonprofits.

2022 filings • NTEE C • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

45th percentile

0.04x

Higher debt load relative to revenue than 45% of similar nonprofits.

2022 filings • NTEE C • $1M-$5M nonprofits • Source year 2022

Net Margin

64th percentile

24%

Higher net margin than 64% of similar nonprofits.

2022 filings • NTEE C • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

87th percentile

$150,000

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 13.8% of source-year revenue.

2022 filings • NTEE C • $1M-$5M nonprofits • Source year 2022

Asset Growth

70th percentile

20%

Faster asset growth than 70% of similar nonprofits.

2022 filings • NTEE C • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

69th percentile

38%

Faster revenue growth than 69% of similar nonprofits.

2022 filings • NTEE C • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets46th percentile

Assets

Up

$1,850,579

Up $306,742 (+20%) from 2021

Net Assets

Up

$1,805,579

Up $261,742 (+17%) from 2021

Liabilities

Up

$45,000

Up $45,000 from 2021

Revenue And Expenses
Liabilities / Revenue45th percentileNet Margin64th percentile

Revenue

Up

$1,085,091

Up $300,468 (+38%) from 2021

Expenses

Up

$823,349

Up $235,361 (+40%) from 2021

Net Income

Up

$261,742

Up $65,107 (+33%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth70th 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

2022

Assets$1,850,579
Liabilities$45,000
Net Assets$1,805,579
Open 2022 Filing

Operations Trend

Revenue Growth69th 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

2022

Revenue$1,085,091
Expenses$823,349
Net Income$261,742
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 7, 2023
Return Version
2022v5.0
Gross Receipts
$1,085,091
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$1,145,070$1,455,631▲ $310,561
Accounts Receivable-$272,118-
Pledges and Grants Receivable$398,767$122,163▼ $276,604
Total Assets$1,543,837$1,850,579▲ $306,742
Other Assets Total-$667-
Liabilities
Accounts Payable and Accrued Expenses-$45,000-
Total Liabilities$0$45,000▲ $45,000
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,072,046$1,242,686▲ $170,640
Net Assets Without Donor Restrictions$471,791$562,893▲ $91,102
Total Net Assets Fund Balance$1,543,837$1,805,579▲ $261,742
Total Liabilities and Net Assets / Fund Balance$1,543,837$1,850,579▲ $306,742
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Karla MagruderPresidentFT$150,000$150,000

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$253,997
Program Service Revenue
$831,044
Investment Income
$50
Other Revenue
$0
All Other Contributions
$253,997
Change in Net Assets
$261,742

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,085,091
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,085,091
Total Revenue per Form 990
$1,085,091
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$508,176
Other Expenses$315,173
Total Fundraising Expense$82,966
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$225,343$69,336$52,002$346,681
Fees for Services Other$212,589--$212,589
Payroll Taxes$102,957$31,679$23,759$158,395
Travel$27,921$8,591$6,443$42,955
Fees for Services Accounting-$10,000-$10,000
Office Expenses-$4,600-$4,600
Fees for Services Legal-$3,565-$3,565
Other Employee Benefits$2,015$620$465$3,100
Insurance-$2,241-$2,241
Other Expenses$1,288$396$297$1,981
All Other Expenses-$96-$96
Total Functional Expenses$605,864$134,519$82,966$823,349

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$823,349
Total Expenses per Audited Statements$823,349
Total Expenses per Form 990$823,349
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 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
32 BRIAR BROOK LANE, CAMPBELL HALL, NY 10916

Signing Officer

Name
Karla Magruder
Title
President
Phone
9174103188
Signed
2023-11-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karla Magruder
Formed
2019
Legal Domicile
De
Voting Board Members
7
Independent Board Members
6
Employees
8
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 212,589. Management and general expenses 0. Fundraising expenses 0. Total expenses 212,589.”

Form 990, Part IX, Line 24E

“Marketing and communications: program service expenses 0. Management and general expenses 96. Fundraising expenses 0. Total expenses 96.”

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, 2022, 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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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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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0823349
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01085091
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS REQUIRED TO DISCLOSE UNRECOGNIZED TAX BENEFITS RESULTING FROM UNCERTAIN TAX POSITIONS. AT DECEMBER 31, 2022, 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
IRS990ScheduleD/TotalExpensesPerForm990Amt0823349
IRS990ScheduleD/TotalRevenuePerForm990Amt01085091
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01085091
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0823349
IRS990/ScheduleJRequiredInd00
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 212,589. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 212,589.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4MARKETING AND COMMUNICATIONS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 96. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 96.
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 24E
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01543837
IRS990/TotalAssetsEOYAmt01850579
IRS990/TotalAssetsGrp/BOYAmt01543837
IRS990/TotalAssetsGrp/EOYAmt01850579
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0253997
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt082966
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0134519
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0605864
IRS990/TotalFunctionalExpensesGrp/TotalAmt0823349
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt045000
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt045000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01543837
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01805579
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0605864
IRS990/TotalProgramServiceRevenueAmt0831044
IRS990/TotalReportableCompFromOrgAmt0150000
IRS990/TotalRevenueGrp/ExclusionAmt050
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0831044
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01085091
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01543837
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01850579
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/FundraisingAmt06443
IRS990/TravelGrp/ManagementAndGeneralAmt08591
IRS990/TravelGrp/ProgramServicesAmt027921
IRS990/TravelGrp/TotalAmt042955
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt032 BRIAR BROOK LANE
IRS990/USAddress/CityNm0CAMPBELL HALL
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010916
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.ACCELERATINGCIRCULARITY.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KARLA MAGRUDER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09174103188
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ACCELERATING CIRCULARITY INC
ReturnHeader/Filer/BusinessNameControlTxt0ACCE
ReturnHeader/Filer/EIN0843906295
ReturnHeader/Filer/PhoneNum09174103188
ReturnHeader/Filer/USAddress/AddressLine1Txt032 BRIAR BROOK LANE
ReturnHeader/Filer/USAddress/CityNm0CAMPBELL HALL
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010916
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0223840651
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SCHULMAN LOBEL LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01001 AVENUE OF THE AMERICAS 2ND
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/ReturnTs02023-11-10T08:28:18-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KARLA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MAGRUDER
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$1,850,579
Liabilities
$45,000
Net assets
$1,805,579
Revenue
$1,085,091
Expenses
$823,349
Net income
$261,742
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
2022Detailed filing. Detailed filing data is available for this year.$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
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