Accelerating Circularity Inc
- Assets
- $1.5m
- Revenue
- $784.6k
- Investments
- $0.0
- Employees
- 5
- Location
- Campbell Hall, NY
- Founding
- Data as of
- 12/2021
- EIN
- 84-3906295
Organization Overview
Accelerating Circularity Inc is located in Campbell Hall, NY. According to its NTEE Classification (C05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Environment and related organizations. As of 12/2021, Accelerating Circularity Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Accelerating Circularity Inc 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 12/2021, Accelerating Circularity Inc generated $784.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (31.4%) each year. All expenses for the organization totaled $588.0k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE EXPENSES AS REPORTED IN PART IX WERE INCURRED TO TRANSFORM TEXTILE SUPPLY CHAINS FROM LINEAR TO CIRCULAR, THEREBY REDUCING TEXTILE WASTE AND HELPING THE ENVIRONMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karla Magruder President | OfficerTrustee | 40 | $157,000 |
Edward Denes Treasurer | OfficerTrustee | 0.5 | $0 |
Tricia Carey Secretary | OfficerTrustee | 0.5 | $0 |
Alice Hartley Director | Trustee | 0.5 | $0 |
Kate Kitchener Director | Trustee | 0.5 | $0 |
Eileen Mockus Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $764,523 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $764,523 |
| Total Program Service Revenue | $20,100 |
| Investment income | $0 |
| 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 | $784,623 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $157,000 |
| Compensation of current officers, directors, key employees. | $31,400 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $166,993 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,073 |
| Payroll taxes | $31,090 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,000 |
| Fees for services: Accounting | $3,053 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $202,343 |
| Advertising and promotion | $399 |
| Office expenses | $4,818 |
| Information technology | $681 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,053 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,473 |
| All other expenses | $0 |
| Total functional expenses | $587,988 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,145,070 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $398,767 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| 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 | $0 |
| Total assets | $1,543,837 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $471,791 |
| Net assets with donor restrictions | $1,072,046 |
| 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 | $1,543,837 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Accelerating Circularity Inc has recieved totaling $1,223,750.
| Awarding Organization | Amount |
|---|---|
Wal-Mart Foundation Bentonville, AR PURPOSE: WASTE | $1,223,750 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
350 Org Brooklyn, NY | $16,160,058 | $23,133,635 |
Cary Institute Of Ecosystem Studies Inc Millbrook, NY | $140,518,327 | $15,738,420 |
Ocean Exploration Trust Inc New London, CT | $13,235,771 | $11,787,296 |
Manomet Inc Manomet, MA | $29,230,503 | $4,483,267 |
Center For Coastal Studies Inc Provincetown, MA | $6,273,659 | $5,055,340 |
Specialized Consultative Union For Intergovernmental Organizations In New York, NY | $450 | $4,363,851 |
B Team Headquarters Inc New York, NY | $2,921,981 | $4,389,629 |
Coming Clean Inc Brattleboro, VT | $2,095,168 | $2,728,491 |
Environmental Advocates Ny Inc Albany, NY | $2,612,721 | $2,517,146 |
The Vermont Center For Ecostudies Inc Norwich, VT | $4,694,171 | $4,460,108 |
Coonamessett Farm Foundation Inc East Falmouth, MA | $2,190,667 | $2,045,162 |
Upstate Freshwater Institute Incorporated Syracuse, NY | $1,975,869 | $1,225,312 |