Overview
What is Aglaunch Initiative?
Aglaunch Initiative is a nonprofit organization based in Memphis, Tennessee, specifically at 1319 Heistan Place, TN 38104. Their primary focus is on supporting early-stage agricultural technology companies that aim to solve sustainability issues at the farm level. This support is provided through an accelerator process, which includes various cohort-based approaches and a follow-on mentor program. The initiative's mission is to catalyze the transformation of regional agriculture and food economies. By attracting, creating, and growing agtech startups, developing new agriculture and food value-chains, and building collaborative farmer networks, Aglaunch is committed to fostering intentional inclusion in the agricultural sector. The organization currently employs a team of 11 individuals.
Official website here: www.aglaunch.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars (58%)
The Aglaunch Initiative has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its financial health and accountability. While the organization scores well in areas such as having a majority independent board and maintaining proper documentation, it struggles with financial ratios that are essential for sustainability, such as liabilities to assets and working capital.
The nonprofit demonstrates strengths in governance practices, including a conflict of interest policy and transparency with board meeting minutes. These attributes contribute positively to its overall accountability. However, the low scores in financial ratios suggest that the organization may face challenges in managing its resources effectively.
Overall, while Aglaunch Initiative shows commendable governance and operational practices, the issues reflected in its financial metrics raise concerns about its long-term viability and ability to fulfill its mission effectively. Potential donors and supporters may want to consider these factors when evaluating their engagement with the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Aglaunch Initiative legitimate?
Aglaunch Initiative is a legitimate nonprofit organization registered as a 501(c)(3) entity. Aglaunch Initiative submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $168,300
Professional Fundraising Fees: $0
Other Salaries and Wages: $853,614
For more financial information, click here
Official website here: www.aglaunch.com
What is the mission statement of Aglaunch Initiative?
The Aglaunch Initiative's mission is to catalyze the transformation of regional agriculture and food economies. They achieve this by attracting, creating, and nurturing agtech startups, facilitating the development of new agriculture and food value-chains, and building collaborative farmer networks. This is all done with a commitment to intentional inclusion. The initiative provides support for startup companies that are solving farm-level sustainability problems, working closely with farmers. This support includes various cohort-based approaches, followed by a mentor program.
Official website here: www.aglaunch.com
What is the revenue of Aglaunch Initiative?
Aglaunch Initiative's revenue in 2023 was $2,426,005.
Official website here: www.aglaunch.com
Who are the executives of Aglaunch Initiative and what are their salaries?
The average compensation at Aglaunch Initiative during 2023 was $92,901. There are 11 employees at Aglaunch Initiative.
Here are 13 key members and their salaries:
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- Compensation: $108,100
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- Compensation: $169,300
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- Other: $18,121
- Compensation: $117,508
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- Compensation: $132,667
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- Compensation: $101,000
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- Other: $0
Official website here: www.aglaunch.com
Where can I find the form 990 for Aglaunch Initiative?
Aglaunch Initiative's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.aglaunch.com
Learn more at the official website: www.aglaunch.com
Mission Statement of Aglaunch Initiative
Aglaunch Initiative, as a nonprofit organization, is committed to catalyzing the transformation of regional agriculture and food economies. Their mission is multifaceted, encompassing three key areas. Firstly, Aglaunch attracts, creates, and grows agtech startups that tackle farm-level sustainability challenges, working closely with farmers. Secondly, they facilitate the development of new agriculture and food value-chains, striving to create a collaborative network of farmers. Lastly, Aglaunch is dedicated to intentional inclusion in its initiatives, ensuring that diverse voices and perspectives are represented. Their accelerator processes provide support to these startup companies through several cohort-based approaches, followed by a mentor program.
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Impact
July, 2024
AgLaunch Initiative is making a significant impact by catalyzing the transformation of regional agriculture and food economies. Through its accelerator processes, it provides vital support for startup companies that are addressing farm-level sustainability challenges in collaboration with farmers. By employing cohort-based approaches and offering mentorship programs, AgLaunch Initiative fosters the growth and development of innovative solutions in the agricultural sector. Based in Memphis, TN, AgLaunch Initiative's mission is to attract, create, and nurture agtech startups, promote the establishment of new agriculture and food value-chains, and establish collaborative networks among farmers, all while prioritizing intentional inclusion. Through these efforts, AgLaunch Initiative is actively contributing to community improvement and driving positive change in the agricultural industry.
This information is meant to be a general summary of Aglaunch Initiative. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $1,830
- Gross Receipts: $2,426,005
Assets and Liabilities:
- Total Assets: $1,697,532
- Total Liabilities: $1,117,477
- Net Assets: $580,055
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Organization Details
Founding Year
2018
Principal Officer
Peter Nelson
Website
www.aglaunch.comNTEE Category
Code: S30 - Community improvement
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