Ashby Legacy Fund

Tax-deductible

Ashby, MN501(c)(3)EducationEIN 83-2211346Revenue $365K in FY2024

On file with the IRSashbylegacyfund.orgPo Box 301, 56309-0301 · Ashby, MNTax-exempt since Mar 2019Publicly supported — 509(a)(2)

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The specific purpose of the corporation is educational and charitable.

501(c)(3) charity; gifts are tax-deductible.
75¢ of each $1 spent went to programs.
Run by 30 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $152K a year · 40% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
75%
of spending
Fine: 75% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$24K
to officers and key staff · 15% of spending
Top officer’s pay lower than 83% of similar orgs
Looks good: pay to officers and key staff is 15% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $206K
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$42K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 11 voting members
Looks good: 9 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$365K
+13% vs prior year
Spent
$163K
To programs
75%
Net assets
$1.8M
By yearFY2020–FY2024
Revenue
$365K
FY2024▲ +13%
Tap a bar for its year
Revenue by fiscal year
FY2020$383K
FY2021$288K
FY2022$527K
FY2023$325K
FY2024$365K
Expenses
$163K
FY2024▼ -34%
Tap a bar for its year
Expenses by fiscal year
FY2020$247K
FY2021$207K
FY2022$264K
FY2023$246K
FY2024$163K
Net assets
$1.8M
FY2024▲ +17%
Tap a bar for its year
Net assets by fiscal year
FY2020$904K
FY2021$1.2M
FY2022$1.3M
FY2023$1.5M
FY2024$1.8M

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2019.

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

Where the money goes

75 cents of each dollar spent went to programs.

Program services 75% · $122K Management & general 24% · $39K Fundraising 1% · $2K

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

Something off? The org can add a note here. Request edit privileges.

Who runs it and what they're paid

12 people listed on the 990; $24K paid to officers and key staff.

Part VII, Section A · reportable compensation
President
$24,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Heidi Hoff’s $24K as President is at the 17th percentile of top reported officer pay among 1613 $100K–1M education 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 · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Heidi Hoff$24,000$24,000$24,000$24,000$24,000

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.

See Ashby Legacy Fund executive salaries →

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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 15aNo

Programs and updates

Educates and provides charitable services to the community.

Provided by the organization

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2 programs · $122K · in their own filed words · FY2024
01

School programming, partnering with teachers and the school community to provide funding for equipment, curriculum and school PROGRAMS.SCHOLARSHIP program, providing a school-wide opportunity that reaches and impacts every ashby student in grades 1-12.COMMUNITY initiatives, investing in the progression and development of ashby.

$102Kprogram expense
02

Alf contributed to the ashby public school to provide funding for equipment, curriculum and school programs.

$20Kprogram 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
See all 6 funders →
Grants paid · 19 grants · $603K · 2020–2024
Unitemized GrantFY2024$45,095
Ashby Public SchoolFY2024$20,387
Unitemized GrantFY2023$103,758
Ashby Public SchoolFY2023$20,891
Unitemized GrantFY2022$104,157
Ashby Public SchoolFY2022$38,080
City of AshbyFY2021$62,444
Ashby Public SchoolFY2021$26,792
Unitemized GrantFY2021$19,585
Unitemized GrantFY2021$3,000
Unitemized GrantFY2020$69,750
Ashby Public SchoolFY2020$44,288
Ashby Senior CenterFY2020$12,579
Individual RecipientFY2020$7,220
Unitemized GrantFY2020$6,300
T&b's Short StopFY2020$6,045
Individual RecipientFY2020$5,625
City RestaurantFY2020$5,170
See all 19 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$365K
Ln 12
Gifts and grantsLn 1h$296K
Investment incomeLn 3$80K
Money outPt IX
$163K
Ln 25
Programscol B$122K
Managementcol C$39K
Fundraisingcol D$2K
Owns and owesPt X
$1.8M
net assets · Ln 32
Cash and savingsLn 1–2$55K
Total assetsLn 16$1.8M
LiabilitiesLn 26$42K
PeoplePt VI, VII
12
listed · VII A
PaidVII A1
Voting boardVI 1a11
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$296K
Fundraising eventsLn 1c$66K
Investment incomeLn 3$80K
Gains on assetsLn 7$30K
Total revenueLn 12$365K
Assets in detailPt X, end of year
CashLn 1$55K
Cash and savings togetherLn 1–2$55K
InvestmentsLn 11–13$1.7M
Total assetsLn 16$1.8M
LiabilitiesLn 26$42K
Net assetsLn 32$1.8M
OperationsPt I, VI
EmployeesI 50
VolunteersI 630
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$60K$55K
InvestmentsLn 11–13$1.4M$1.7M
Total assetsLn 16$1.5M$1.8M
LiabilitiesLn 26$0$42K
Net assetsLn 32$1.5M$1.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$20K$20K
Grants to domestic individualsLn 2$45K$45K
Management feesLn 11a$19K$4K$15K
Other fees for servicesLn 11g$24K$11K$11K$2K
Advertising and promotionLn 12$1K$1K
Office expensesLn 13$988$988
Information technologyLn 14$120$120
TravelLn 17$11K$11K
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$39K$38K$2K
Total functional expensesLn 25$163K$122K$39K$2K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $365K$163K$202K$1.8M 990 PDF
FY2023 $325K$246K$79K$1.5M 990 PDF
FY2022 $527K$264K$263K$1.3M 990 PDF
FY2021 $288K$207K$81K$1.2M 990 PDF
FY2020 $383K$247K$136K$904K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $365,388 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $300,930$295,789
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $35,205$80,179
I-11 Other revenuePrior year −$11,483−$10,580
I-12 Total revenuePrior year $324,652$365,388
I-13 Grants and similar amounts paidPrior year $124,649$65,482
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $24,000$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $96,942$97,803
I-18 Total expensesPrior year $245,591$163,285
I-19 Revenue less expensesPrior year $79,061$202,103
Part VI · Governance 9 of 11 board members independent, 4 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members9
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $365,388 across 7 lines filed
VIII-1c Fundraising events$66,454
VIII-1f All other contributions, gifts and grants$295,789
VIII-1h Total contributions, gifts and grants$295,789
VIII-3 Investment incomeExcluded from tax $50,505$50,505
VIII-7 Net gain or loss on sales of assetsExcluded from tax $29,674$29,674
VIII-8 Net income from fundraising eventsExcluded from tax −$10,580−$10,580
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $69,599$365,388
Part IX · Statement of functional expenses $163,285 across 10 lines filed
IX-1 Grants to domestic organizationsPrograms $20,387$20,387
IX-2 Grants to domestic individualsPrograms $45,095$45,095
IX-11a Management feesPrograms $3,767 · Management $15,000$18,767
IX-11g Other fees for servicesPrograms $11,000 · Management $11,000 · Fundraising $2,000$24,000
IX-12 Advertising and promotionPrograms $1,308$1,308
IX-13 Office expensesPrograms $988$988
IX-14 Information technologyPrograms $120$120
IX-17 TravelManagement $11,438$11,438
IX-23 InsurancePrograms $1,731$1,731
IX-24 Other expenses (24a–d)Programs $37,511 · Management $1,940$39,451
IX-25 Total functional expensesPrograms $121,907 · Management $39,378 · Fundraising $2,000$163,285
Part X · Balance sheet $1,800,019 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $59,592$54,697
X-11 Publicly traded securitiesStart of year $1,438,030$1,745,322
X-16 Total assetsStart of year $1,497,622$1,800,019
X-25 Other liabilitiesStart of year $0$41,650
X-26 Total liabilitiesStart of year $0$41,650
X-32 Total net assets or fund balancesStart of year $1,497,622$1,758,369
X-33 Total liabilities and net assetsStart of year $1,497,622$1,800,019
Part XI · Reconciliation of net assets $1,758,369 net assets at year end
XI-1 Total revenue$365,388
XI-2 Total expenses$163,285
XI-3 Revenue less expenses$202,103
XI-4 Net assets at start of year$1,497,622
XI-5 Net unrealized gains (losses) on investments$58,644
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,758,369

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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