Local First EIN 27-3083017

Local First FY2021 filing

EIN  27-3083017 Business league / trade association Durango, CO
Form 990 (PDF)
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Size
$100K–1M
What they do
Helps local businesses and organizations thrive to build a better economy.
Leadership
Emily Bell · Managing Dir · $51K
Money in and out
$767K revenue, $669K expenses
Bottom line
+13% operating surplus

Helps local businesses and organizations thrive to build a better economy. For fiscal year 2021 it reported $767K in revenue, $669K in expenses, and $168K in net assets.Pt I

Membership & operating revenue · FY2021
Total revenue
$767K
Pt VIII · Ln 12
Total expenses
$669K
Pt IX · Ln 25
Net assets
$168K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $99K
Operating surplus
+13%
revenue over expenses
Earned revenue
23%
of revenue from program services & dues
Payroll share
22%
of spending is salaries & benefits

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Revenue
$767K
FY2021▼ -48%
Expenses
$669K
FY2021▼ -53%
Total assets
$289K
FY2021▲ +51%
Total liabilities
$121K
FY2021▼ -1%
Total revenue
$767K
Pt VIII · Ln 12
Total expenses
$669K
Pt IX · Ln 25
Net assets
$168K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$99K
Total assetsPt X · Ln 16$289K
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 $566K of program spending, described in the organization's own filed words · FY2021.
01

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.

$426Kprogram expense
02

Other programs and services to members include consumer targeted campaigns such as outreach and mobilization efforts such as working with businesses on social and environmental best practices through the a variety of programs.

$98Kprogram expense
03

Be Local Book

Annual publication and business support program to promote supporting local businesses and educate about local economies. Our theme for 2021/2022 was "Resilience and Regrowth".

$42Kprogram 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
Managing Dir
$51,126Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Chairman
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$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$586K · 76%
Program service revenue$177K · 23%
Contributions & grants76%$586K
Program service revenue23%$177K
Investment income$7
Other revenue$4K
— government grantsLn 1e$573K
Total revenueLn 12$767K

Balance Sheet

Part X · end of year
CashLn 1$265K
Total assetsLn 16$289K
Total liabilitiesLn 26$121K
Total net assetsLn 32$168K
Months of cash on handcomputed4.7

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $265K · Operating expenses/yr $669K
4.7 months
Where the money goes
Program services
Program services $0 · Total expenses $669K
not reported
Management & General
Management & general $0 · Total expenses $669K
not reported
Fundraising
Fundraising $0 · Total expenses $669K
not reported
Cost to raise $1
Fundraising expense (2-yr avg) $0 · Solicited contributions (2-yr avg) $18K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $586K · Total revenue $767K
76%
Government reliance
Government grants $573K · Total revenue $767K
75%
Earned-income share
Program service revenue $177K · Total revenue $767K
23%
Investment reliance
Investment income $7 · Total revenue $767K
0%
Program self-sufficiency
Program service revenue $177K · Total expenses $669K
26%
Growth & trend
Revenue growth (YoY)
This year $767K · Prior year $1.5M
-48%
Net-asset trend (YoY)
End of year $168K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $767K · Expenses $669K
+13%
Liabilities-to-Assets
Total liabilities — · Total assets $289K
Net-asset ratio
Net assets $168K · Total assets $289K
58%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $289K
0%
People & payroll
Highest Reported Total Compensation
Individual Emily Bell · Reported title Managing Dir · Highest reported compensation $51K · Total expenses $669K
8%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $149K · Total expenses $669K
22%
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%
Revenue growth -48%
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 · viewing · ⤓ 990 PDF
FY2020$1.5M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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