Local First EIN 27-3083017

Local First FY2020 filing

EIN  27-3083017 Business league / trade association Durango, CO
Form 990 (PDF)
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Helps local businesses and organizations thrive to build a better economy.
Leadership
Monique Digiorgio · Former Managing Director · $38K
Money in and out
$1.5M revenue, $1.4M expenses
Bottom line
+3% operating surplus

Helps local businesses and organizations thrive to build a better economy. For fiscal year 2020 it reported $1.5M in revenue, $1.4M in expenses, and $69K in net assets.Pt I

Membership & operating revenue · FY2020
Total revenue
$1.5M
Pt VIII · Ln 12
Total expenses
$1.4M
Pt IX · Ln 25
Net assets
$69K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $41K
Operating surplus
+3%
revenue over expenses
Earned revenue
16%
of revenue from program services & dues
Payroll share
13%
of spending is salaries & benefits

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Revenue
$1.5M
FY2020
Expenses
$1.4M
FY2020
Total assets
$191K
FY2020
Total liabilities
$121K
FY2020
Total revenue
$1.5M
Pt VIII · Ln 12
Total expenses
$1.4M
Pt IX · Ln 25
Net assets
$69K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$41K
Total assetsPt X · Ln 16$191K
Program-expense ratioPt IX · col B0%
Voting members of governing bodyPt I · Ln 310
Independent voting membersPt I · Ln 410
Mission & Programs · Part III

Where the work happens

3 program services account for $243K of program spending, described in the organization's own filed words · FY2020.
01

The American Independent Business Alliance (AMIBA) based in Bozeman, MT was chosen to receive $355,843 from the USDA through the Local Food Promotion Program of the Agricultural Marketing Service. Local First was one of the main administers of the funds locally.

$148Kprogram expense
02

Local First partnered with La Plata County Colorado to administer Small BusinessRelief Program (Senate Bill 20B-001) in order to provide direct relief payments toeligible small businesses and non-profits located in La Plata County in operation since March 16, 2020 with 50 FTE employees or fewer.

$58Kprogram expense
03

Be Local Book

Annual publication and business support program to promote supporting local businesses and educate about local economies. Our theme for 2020/2021 was "Look Local".

$37Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CLocal First
EINHdr · item D27-3083017
Principal addressHdr · item CDurango, CO
WebsiteHdr · item Jwww.local-first.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MCO
Exempt statusHdr · item I501(c)(6) · active
NTEE classificationIRS BMFCommunity Development (S02)
Ruling yearIRS BMFAug 2010

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a10
Independent voting membersPt VI · Ln 1b10
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Former Managing Director
$37,957Pt VII · Sec A
Former Managing Director
$17,044Pt VII · Sec A
Managing Dir
$13,058Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Douglas McCarthy’s $81K as Executive Director is at the 57th percentile of top reported officer pay among 1710 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2024FY2023FY2021FY2020
Lauren Berutich$87,800
Douglas McCarthy$80,692
Emily Bell$51,126$13,058
Monique Digiorgio$37,957
Kyrie Hooton$17,044

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants$1.2M · 84%
Program service revenue$229K · 16%
Contributions & grants84%$1.2M
Program service revenue16%$229K
Investment income$2
Other revenue$1K
— government grantsLn 1e$1.2M
Total revenueLn 12$1.5M

Balance Sheet

Part X · end of year
CashLn 1$95K
Total assetsLn 16$191K
Total liabilitiesLn 26$121K
Total net assetsLn 32$69K
Months of cash on handcomputed0.8

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $95K · Operating expenses/yr $1.4M
0.8 months
Where the money goes
Program services
Program services $0 · Total expenses $1.4M
not reported
Management & General
Management & general $0 · Total expenses $1.4M
not reported
Fundraising
Fundraising $0 · Total expenses $1.4M
not reported
Cost to raise $1
Fundraising expense $0 · Solicited contributions $23K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $1.2M · Total revenue $1.5M
84%
Government reliance
Government grants $1.2M · Total revenue $1.5M
83%
Earned-income share
Program service revenue $229K · Total revenue $1.5M
16%
Investment reliance
Investment income $2 · Total revenue $1.5M
0%
Program self-sufficiency
Program service revenue $229K · Total expenses $1.4M
16%
Growth & trend
Revenue growth (YoY)
This year $1.5M · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $69K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.5M · Expenses $1.4M
+3%
Liabilities-to-Assets
Total liabilities — · Total assets $191K
Net-asset ratio
Net assets $69K · Total assets $191K
36%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $191K
0%
People & payroll
Highest Reported Total Compensation
Individual Emily Bell · Reported title Managing Dir · Highest reported compensation $13K · Total expenses $1.4M
1%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $189K · Total expenses $1.4M
13%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Overhead ratio 0%
Fundraising cost ratio 0%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 0%
Fundraising fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$2K
Grants paid · 2 grants · $1.5M · 2020–2021
Various - See AttachedFY2021$426,000
Various - See AttachedFY2020$1,077,832

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$191K revenue · ⤓ 990 PDF
FY2023$159K revenue · ⤓ 990 PDF
FY2022$168K revenue · ⤓ 990 PDF
FY2021$767K revenue · ⤓ 990 PDF
FY2020$1.5M revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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