Aglaunch Initiative
- Assets
- $1.6m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 11
- Location
- Memphis, TN
- Founding
- 09/2019
- Data as of
- 06/2022
- EIN
- 83-0995119
Organization Overview
Aglaunch Initiative is located in Memphis, TN. The organization was established in 2019. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Aglaunch Initiative employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Aglaunch Initiative is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Aglaunch Initiative generated $2.7m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 24.1% each year . All expenses for the organization totaled $2.4m during the year ending 06/2022. While expenses have increased by 28.0% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
AGLAUNCH CATALYZES THE TRANSFORMATION OF REGIONAL AGRICULTURE AND FOOD ECONOMIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACCELERATOR PROCESSES: SUPPORT FOR STARTUP COMPANIES THAT ARE SOLVING FARM LEVEL SUSTAINABILITY PROBLEMS WORKING WITH FARMERS. ACCELERATOR PROCESS INCLUDING SEVERAL COHORT BASED APPROACHES, WITH FOLLOW-ON MENTOR PROGRAM.
ACCELERATOR PROCESSES: SUPPORT FOR STARTUP COMPANIES THAT ARE SOLVING FARM LEVEL SUSTAINABILITY PROBLEMS WORKING WITH FARMERS. ACCELERATOR PROCESS INCLUDING SEVERAL COHORT BASED APPROACHES, WITH FOLLOW-ON MENTOR PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andy Mccarroll Director | Trustee | 1 | $0 |
Carolyn Hardy Director | Trustee | 1 | $0 |
Corinne Gould Director | Trustee | 1 | $0 |
Fayre Crossley Director | Trustee | 1 | $0 |
Karen Lavert Director | Trustee | 1 | $0 |
Rhedona Rose Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,674,383 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,674,383 |
| Total Program Service Revenue | $0 |
| Investment income | $397 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,674,780 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $282,866 |
| Grants and other assistance to domestic individuals. | $5,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $161,494 |
| Compensation of current officers, directors, key employees. | $27,454 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $851,722 |
| Pension plan accruals and contributions | $28,445 |
| Other employee benefits | $48,403 |
| Payroll taxes | $79,302 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,071 |
| Fees for services: Accounting | $21,812 |
| Fees for services: Lobbying | $5,413 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $647,821 |
| Advertising and promotion | $7,323 |
| Office expenses | $11,507 |
| Information technology | $12,373 |
| Royalties | $0 |
| Occupancy | $18,000 |
| Travel | $78,030 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,405 |
| Interest | $2,650 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,817 |
| All other expenses | $7,655 |
| Total functional expenses | $2,413,270 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $938,372 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $589,697 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $69,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,500 |
| Total assets | $1,599,569 |
| Accounts payable and accrued expenses | $99,592 |
| Grants payable | $0 |
| Deferred revenue | $819,700 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $8,722 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $928,014 |
| Net assets without donor restrictions | $671,555 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,599,569 |
Grants Awarded
Over the last fiscal year, Aglaunch Initiative has awarded $565,730 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
THE SEAM LLC PURPOSE: AGRICULTURE PILOT PROGRAM | $187,386 |
MISSISSIPPI STATE UNIVERSITY PURPOSE: AGRICULTURE PILOT PROGRAM | $60,924 |
WINROCK SOLUTIONS PURPOSE: AGRICULTURE PILOT PROGRAM | $34,555 |
THE SEAM LLC PURPOSE: AGRICULTURE PILOT PROGRAM | $187,386 |
MISSISSIPPI STATE UNIVERSITY PURPOSE: AGRICULTURE PILOT PROGRAM | $60,924 |
WINROCK SOLUTIONS PURPOSE: AGRICULTURE PILOT PROGRAM | $34,555 |