Ashby Legacy Fund

Nonprofit profile at a glance

EIN
832211346
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-N 2018
Location
Ashby, MN, USA
Phone
6123678800
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$365,388
Expenses
$163,285
Assets
$1,800,019
Liabilities
$41,650

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • HEIDI HOFF (PRESIDENT)

Highest reported compensation

  • HEIDI HOFF (PRESIDENT): $24,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Ashby legacy fund (alf) is a community-led organization that invests in the preservation of ashby as a special place to live for generations to come. The specific purpose of the corporation is educational and charitable.

What it reported doing in 2024

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.

Operating model

Revenue model
Donor-supported. 85% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 46% for direct work, and 54% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 94
  • Accountability: 53
  • Sustainability: 78
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 45.6%; rating input score 46
  • Program expense ratio: 74.7%; rating input score 75
  • Fundraising efficiency: $147.89 raised per $1 spent on fundraising; rating input score 89; 89th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 81.8%; rating input score 82; 22nd percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 55.3%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 11.02; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 14.7%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: 3.7% per year; rating input score 100; 48th percentile among comparable filings
  • Revenue growth: -13% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: 17.1% per year; rating input score 100; 81st percentile among comparable filings

Details

  • Where the money goes: 45.6% of revenue deployed · 74.7% of spending went to programs
  • Governance: 9 of 11 board members independent · 1 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $122K in reported program spending
  • Leadership: top reported pay $24K · 12 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 46/100.
  • High — Accountability: Governance controls: 6 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 24/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.