Civic Intelligence

Midcity Accelerator Foundation Inc

990 • Fiscal year 2023 • EIN 85-4102045

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

Organization ProfileN/A
920 Bob Wallace Ave SW 320Huntsville, AL 35801

(256) 489-4157

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

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

42nd percentile

0.6%

Higher net margin than 42% of similar nonprofits.

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

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

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

Asset Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2022 to 2023

Revenue Growth

26th percentile

-9.8%

Faster revenue growth than 26% of similar nonprofits.

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

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

-$4

Down $1,049 (-100%) from 2022

Net Assets

Up

-$4

Up $4,993 (+100%) from 2022

Liabilities

Down

$0

Down $6,042 (-100%) from 2022

Revenue And Expenses
Liabilities / Revenue32nd percentileNet Margin42nd percentile

Revenue

Down

$868,380

Down $94,620 (-9.8%) from 2022

Expenses

Down

$863,387

Down $84,720 (-8.9%) from 2022

Net Income

Down

$4,993

Down $9,900 (-66%) from 2022

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$1.0M$500K$0-$500KAssets 2021: $0Liabilities 2021: $19,890Net Assets 2021: -$19,8902021Assets 2022: $1,045Liabilities 2022: $6,042Net Assets 2022: -$4,9972022Assets 2023: -$4Liabilities 2023: $0Net Assets 2023: -$42023Assets 2024: $816,348Liabilities 2024: $713,401Net Assets 2024: $102,9472024

Highlighted filing

2023

Assets-$4
Liabilities$0
Net Assets-$4
Open 2023 Filing

Operations Trend

Revenue Growth26th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2021: $640,000Expenses 2021: $659,890Net Income 2021: -$19,8902021Revenue 2022: $963,000Expenses 2022: $948,107Net Income 2022: $14,8932022Revenue 2023: $868,380Expenses 2023: $863,387Net Income 2023: $4,9932023Revenue 2024: $1,166,083Expenses 2024: $1,063,132Net Income 2024: $102,9512024

Highlighted filing

2023

Revenue$868,380
Expenses$863,387
Net Income$4,993
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 15, 2024
Return Version
2023v5.0
Gross Receipts
$868,380
Mission and Program Overview

Mission

Midcity accelerator foundation inc. (mcaf) is an alabama economic development organization and 501 c 3 organization established to facilitate community investment and grow local business ecosystems. Mcaf's focus on growing the entrepreneurial ecosystem aims to benefit productivity, innovation and jobs to provide opportunities to all entrepreneurs, regardless of race, place or gender.

Apollo foundation, inc. Is an alabama economic development organization and 501(c)(3) organization established to facilitate community investment and grow local business ecosystems. Apollo foundation, inc.'s focus on growing the entrepreneurial ecosystem aims to benefit productivity, innovation and jobs to provide opportunities to all entrepreneurs, regardless of race, place or gender.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,045$-4▼ $1,049
Total Assets$1,045$-4▼ $1,049
Liabilities
Accounts Payable and Accrued Expenses$6,042--
Total Liabilities$6,042$0▼ $6,042
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-4,997$-4▲ $4,993
Total Net Assets Fund Balance$-4,997$-4▲ $4,993
Total Liabilities and Net Assets / Fund Balance$1,045$-4▼ $1,049
Compensation and Service Providers
Top Officer Pay54th percentile

Board Members and Trustees

NameTitle
Alan DuncanDirector
Maximilian J GrelierDirector
Remy F Gross IiiDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$868,380
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$868,380
Change in Net Assets
$4,993

Audited Revenue Reconciliation

Revenue per Audited Statements
$868,380
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$868,380
Total Revenue per Form 990
$868,380
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$850,000
Other Expenses$13,387
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$850,000--$850,000
Fees for Services Other-$11,874-$11,874
Advertising-$750-$750
Other Expenses-$620-$620
Office Expenses-$143-$143
Total Functional Expenses$850,000$13,387$0$863,387

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$863,387
Total Expenses per Audited Statements$863,387
Total Expenses per Form 990$863,387
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Gener8tor Management LLCMadison, WIN/aTO HELP FACILIATE GENER8TOR'S PROGRAMS$850,000
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 A, Line 2

“Rcp companies and apollo foundation, inc. Directors-the three directors for apollo foundation, inc. Are alan duncan, max grelier and remy gross iii. Alan duncan is the controller for rcp companies (employee of company rex commercial properties, inc.) and has been with the company for approximately 6 years. Max grelier and remy gross, iii are co-founders of rcp companies. Max, remy and alan handle all director duties of apollo foundation, inc. In addition to their responsibilities to rcp companies' operations, etc. All apollo foundation inc.'s matters are handled in accordance with the related bylaws.”

Form 990, Part VI, Section B, Line 11B

“The 990 draft is submitted to the board for review and comments before the return is filed.”

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

“To ensure the organization operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic reviews shall be conducted. The periodic reviews shall, at a minimum, include the following subjects: a. Whether compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arm's length bargaining. B. Whether partnerships, joint ventures, and arrangements with management organizations conform to the organization's written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes and do not result in inurement, impermissible private benefit or in an excess benefit transaction.”

Form 990, Part VI, Section C, Line 19

“The documents are available for inspection upon request at the office of the organization.”

Filing and Contact Details

Filer

Filer Name
Apollo Foundation Inc
EIN
85-4102045
Phone
2564894157
Address
920 BOB WALLACE AVE SW 320, HUNTSVILLE, AL 35801

Signing Officer

Name
Remy Gross Iii
Title
Director
Phone
2564894157
Signed
2024-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Remy Gross Iii
Formed
2020
Legal Domicile
Al
Voting Board Members
3
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Bmss LLC
Address
1121 RIVERCHASE OFFICE RD, BIRMINGHAM, AL 35244
Preparer
Christie K Russell CPA
Phone
2059825500
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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/ExplanationTxt0RCP COMPANIES AND APOLLO FOUNDATION, INC. DIRECTORS-THE THREE DIRECTORS FOR APOLLO FOUNDATION, INC. ARE ALAN DUNCAN, MAX GRELIER AND REMY GROSS III. ALAN DUNCAN IS THE CONTROLLER FOR RCP COMPANIES (EMPLOYEE OF COMPANY REX COMMERCIAL PROPERTIES, INC.) AND HAS BEEN WITH THE COMPANY FOR APPROXIMATELY 6 YEARS. MAX GRELIER AND REMY GROSS, III ARE CO-FOUNDERS OF RCP COMPANIES. MAX, REMY AND ALAN HANDLE ALL DIRECTOR DUTIES OF APOLLO FOUNDATION, INC. IN ADDITION TO THEIR RESPONSIBILITIES TO RCP COMPANIES' OPERATIONS, ETC. ALL APOLLO FOUNDATION INC.'S MATTERS ARE HANDLED IN ACCORDANCE WITH THE RELATED BYLAWS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 DRAFT IS SUBMITTED TO THE BOARD FOR REVIEW AND COMMENTS BEFORE THE RETURN IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2TO ENSURE THE ORGANIZATION OPERATES IN A MANNER CONSISTENT WITH CHARITABLE PURPOSES AND DOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS TAX-EXEMPT STATUS, PERIODIC REVIEWS SHALL BE CONDUCTED. THE PERIODIC REVIEWS SHALL, AT A MINIMUM, INCLUDE THE FOLLOWING SUBJECTS: A. WHETHER COMPENSATION ARRANGEMENTS AND BENEFITS ARE REASONABLE, BASED ON COMPETENT SURVEY INFORMATION, AND THE RESULT OF ARM'S LENGTH BARGAINING. B. WHETHER PARTNERSHIPS, JOINT VENTURES, AND ARRANGEMENTS WITH MANAGEMENT ORGANIZATIONS CONFORM TO THE ORGANIZATION'S WRITTEN POLICIES, ARE PROPERLY RECORDED, REFLECT REASONABLE INVESTMENT OR PAYMENTS FOR GOODS AND SERVICES, FURTHER CHARITABLE PURPOSES AND DO NOT RESULT IN INUREMENT, IMPERMISSIBLE PRIVATE BENEFIT OR IN AN EXCESS BENEFIT TRANSACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE DOCUMENTS ARE AVAILABLE FOR INSPECTION UPON REQUEST AT THE OFFICE OF THE ORGANIZATION.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
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IRS990/TotalAssetsBOYAmt01045
IRS990/TotalAssetsEOYAmt0-4
IRS990/TotalAssetsGrp/BOYAmt01045
IRS990/TotalAssetsGrp/EOYAmt0-4
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0868380
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt013387
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0850000
IRS990/TotalFunctionalExpensesGrp/TotalAmt0863387
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt06042
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt06042
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-4997
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-4
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0850000
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0868380
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01045
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0-4
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0920 BOB WALLACE AVE SW
IRS990/USAddress/CityNm0HUNTSVILLE
IRS990/USAddress/StateAbbreviationCd0AL
IRS990/USAddress/ZIPCd035801
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0REMY GROSS III
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum02564894157
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0APOLLO FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0MIDC
ReturnHeader/Filer/EIN0854102045
ReturnHeader/Filer/PhoneNum02564894157
ReturnHeader/Filer/USAddress/AddressLine1Txt0920 BOB WALLACE AVE SW 320
ReturnHeader/Filer/USAddress/CityNm0HUNTSVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0AL
ReturnHeader/Filer/USAddress/ZIPCd035801
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0461498870
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BMSS LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01121 RIVERCHASE OFFICE RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BIRMINGHAM
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0AL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd035244
ReturnHeader/PreparerPersonGrp/PhoneNum02059825500
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHRISTIE K RUSSELL CPA
ReturnHeader/ReturnTs02024-08-08T10:30:48-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
-$4
Liabilities
$0
Net assets
-$4
Revenue
$868,380
Expenses
$863,387
Net income
$4,993
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.82$0.71$0.10$1.17$1.06$0.10
2023Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.87$0.86$0.00
2022Detailed filing. Detailed filing data is available for this year.$0.00$0.01$0.00$0.96$0.95$0.01
2021Detailed filing. Detailed filing data is available for this year.$0.00$0.02$0.02$0.64$0.66$0.02