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Aglaunch Initiative

Tax-deductible

Memphis, TN501(c)(3)Since 2018Community Development EIN 83-0995119Revenue $2.0M in FY2025

On file with the IRSaglaunch.com1350 Concourse Ave Ste 434, 38104-2025 · Memphis, TNTax-exempt since Sep 2019Publicly supported charity — 170(b)(1)(A)(vi)

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Aglaunch attracts, creates and grows agtech startups, facilitates the development of new agriculture and food value-chains, and builds collaborative farmer networks, with a commitment to intentional inclusion.

501(c)(3) charity; gifts are tax-deductible.
83¢ of each $1 spent went to programs.
$414K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $35K a year · 2% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$414K
to officers and key staff · 19% of spending
Top officer’s pay lower than 52% of similar orgs
Fine: pay to officers and key staff is 19% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $200K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$609K
96% of total assets
Concern: liabilities are 96% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.0M
-18% vs prior year
Spent
$2.2M
To programs
83%
Net assets
$27K
By yearFY2021–FY2025
Revenue
$2.0M
FY2025▼ -18%
Tap a bar for its year
Revenue by fiscal year
FY2021$1.4M
FY2022$2.6M
FY2023$2.4M
FY2024$2.5M
FY2025$2.0M
Expenses
$2.2M
FY2025▼ -17%
Tap a bar for its year
Expenses by fiscal year
FY2021$1.2M
FY2022$2.4M
FY2023$2.6M
FY2024$2.6M
FY2025$2.2M
Net assets
$27K
FY2025▼ -86%
Tap a bar for its year
Net assets by fiscal year
FY2021$410K
FY2022$580K
FY2023$375K
FY2024$193K
FY2025$27K

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 2019.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $1.8M Management & general 17% · $372K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990; $414K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Peter a Nelson
Executive Director/Preside
$154,835Pt VII · Sec A
Margaret Oldham
VP of Innovation
$133,380Pt VII · Sec A
Rajah Brown
VP of Operations
$126,100Pt VII · Sec A
Karen Levert
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Corine Gould
Director
$0Pt VII · Sec A

Peter a Nelson’s $155K as Executive Director/Preside is at the 48th percentile of top reported officer pay among 2832 $1–10M 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 · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Peter a Nelson$154,835$167,974$169,300$161,494$145,406
Margaret Oldham$133,380$142,519$132,667——
Rajah Brown$126,100$120,480———
Rebecca Kaufman——$117,508$122,344—
Jade Clark——$108,100$105,175—
Connie Bowen———$105,175—
Paul Kennedy——$101,000——
Samuel Brown————$16,314

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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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Catalyzes regional agriculture and food economy transformation.

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Provided by the organization

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1 program · $1.8M · in their own filed words · FY2024
01

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.

$1.8Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Tennessee Technology Development CorporationFY2024$200K
Total grants receivedfrom 1 funder$200K
Grants paid · 24 grants · $2.0M · 2021–2024
The SeamFY2024$120,313
SedcorOR · FY2024$52,500
Possum TechnologiesFY2024$50,000
North Carolina A&t State UniversityFY2024$43,763
Delta Harvest LLCFY2024$25,575
Hbcu Community Development Action CoalitionFL · FY2024$25,000
Diligence Technologies INCFY2024$10,175
Gillian Ag ResearchFY2024$5,600
Agricenter International INCTN · FY2024$5,355
Ruddenklau Farms LLCFY2024$5,160
The Seam LLCFY2023$559,298
Tennessee State UniversityTN · FY2023$52,593
Mississippi State UniversityMS · FY2023$17,126
Unitemized GrantFY2023$15,000
The Seam LLCFY2022$274,493
Mississippi State UniversityMS · FY2022$81,291
Tennessee State UniversityTN · FY2022$54,499
Unitemized GrantFY2022$12,500
See all 24 grants →

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.0M
Ln 12
Gifts and grantsLn 1h$2.0M
Investment incomeLn 3$961
Money outPt IX
$2.2M
Ln 25
Programscol B$1.8M
Managementcol C$372K
Owns and owesPt X
$27K
net assets · Ln 32
Cash and savingsLn 1–2$185K
Total assetsLn 16$636K
LiabilitiesLn 26$609K
PeoplePt VI, VII
9
listed · VII A
PaidVII A3
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.0M
Government grantsLn 1e$1.1M
Fundraising eventsLn 1c$14K
Investment incomeLn 3$961
Total revenueLn 12$2.0M
Assets in detailPt X, end of year
CashLn 1$185K
Cash and savings togetherLn 1–2$185K
Other assetsLn 15$2K
Total assetsLn 16$636K
LiabilitiesLn 26$609K
Net assetsLn 32$27K
OperationsPt I, VI
EmployeesI 512
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$568K$185K
Total assetsLn 16$1.1M$636K
LiabilitiesLn 26$925K$609K
Net assetsLn 32$193K$27K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$353K$353K
Grants to domestic individualsLn 2$7K$7K
Pay of current officers, directors and key staffLn 5$445K$401K$45K
Other salaries and wagesLn 7$616K$543K$74K
Payroll taxesLn 10$79K$79K
Legal feesLn 11b$892$892
Accounting feesLn 11c$57K$13K$44K
Other fees for servicesLn 11g$299K$292K$7K
Advertising and promotionLn 12$1K$1K
Office expensesLn 13$2K$764$781
Information technologyLn 14$37K$11K$26K
OccupancyLn 16$36K$7K$28K
TravelLn 17$94K$92K$1K
Conferences, conventions and meetingsLn 19$86K$77K$8K
InterestLn 20$7K$407$7K
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$125K$13K$112K
All other expensesLn 24e−$52K$12K−$64K
Total functional expensesLn 25$2.2M$1.8M$372K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $2.0M$2.2M−$166K$27K 990 PDF
FY2024 $2.5M$2.6M−$183K$193K 990 PDF
FY2023 $2.4M$2.6M−$194K$375K 990 PDF
FY2022 $2.6M$2.4M$170K$580K 990 PDF
FY2021 $1.4M$1.2M$199K$410K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $2,028,882 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,457,573$2,027,921
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $4,950$961
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $2,462,523$2,028,882
I-13 Grants and similar amounts paidPrior year $644,018$359,537
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,295,068$1,140,696
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $706,070$694,287
I-18 Total expensesPrior year $2,645,156$2,194,520
I-19 Revenue less expensesPrior year −$182,633−$165,638
Part VI · Governance 7 of 7 board members independent, 2 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,028,882 across 7 lines filed
VIII-1c Fundraising events$14,500
VIII-1e Government grants$1,140,555
VIII-1f All other contributions, gifts and grants$872,866
VIII-1h Total contributions, gifts and grants$2,027,921
VIII-3 Investment incomeRelated to mission $961$961
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $961 · Unrelated business $0 · Excluded from tax $0$2,028,882
Part IX · Statement of functional expenses $2,194,520 across 18 lines filed
IX-1 Grants to domestic organizationsPrograms $352,737$352,737
IX-2 Grants to domestic individualsPrograms $6,800$6,800
IX-5 Pay of current officers, directors and key staffPrograms $400,889 · Management $44,543$445,432
IX-7 Other salaries and wagesPrograms $542,649 · Management $73,551$616,200
IX-10 Payroll taxesManagement $79,064$79,064
IX-11b Legal feesManagement $892$892
IX-11c Accounting feesPrograms $12,900 · Management $44,500$57,400
IX-11g Other fees for servicesPrograms $291,743 · Management $7,088$298,831
IX-12 Advertising and promotionPrograms $1,090$1,090
IX-13 Office expensesPrograms $764 · Management $781$1,545
IX-14 Information technologyPrograms $10,934 · Management $25,719$36,653
IX-16 OccupancyPrograms $7,020 · Management $28,499$35,519
IX-17 TravelPrograms $92,139 · Management $1,469$93,608
IX-19 Conferences, conventions and meetingsPrograms $77,188 · Management $8,385$85,573
IX-20 InterestPrograms $407 · Management $6,794$7,201
IX-23 InsuranceManagement $3,312$3,312
IX-24 Other expenses (24a–d)Programs $13,139 · Management $111,985$125,124
IX-24e All other expensesPrograms $11,653 · Management −$64,114−$52,461
IX-25 Total functional expensesPrograms $1,822,052 · Management $372,468 · Fundraising $0$2,194,520
Part X · Balance sheet $636,063 assets, 11 lines filed
Asset lines not itemized here account for $146,259; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $568,228$185,096
X-3 Pledges and grants receivableStart of year $441,497$303,208
X-15 Other assetsStart of year $1,500$1,500
X-16 Total assetsStart of year $1,117,960$636,063
X-17 Accounts payable and accrued expensesStart of year $70,917$35,148
X-19 Deferred revenueStart of year $804,285$328,482
X-25 Other liabilitiesStart of year $50,000$245,313
X-26 Total liabilitiesStart of year $925,202$608,943
X-27 Net assets without donor restrictionsStart of year $192,758$27,120
X-32 Total net assets or fund balancesStart of year $192,758$27,120
X-33 Total liabilities and net assetsStart of year $1,117,960$636,063
Part XI · Reconciliation of net assets $27,120 net assets at year end
XI-1 Total revenue$2,028,882
XI-2 Total expenses$2,194,520
XI-3 Revenue less expenses−$165,638
XI-4 Net assets at start of year$192,758
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$27,120

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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