Overview
What is Acg Legacy Fund?
The Acg Legacy Fund is a nonprofit organization situated in Aitkin, Minnesota, with a specific mission to aid in the growth and development of Aitkin County. By providing financial support for their projects and economic development activities, the fund aims to identify and overcome barriers to economic growth in the area. The Acg Legacy Fund seeks to promote start-up and expansion business opportunities within an incubator building, thus contributing to the overall economic development of Aitkin County.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80% (Three-Star out of Four Star rating)
The ACG Legacy Fund has received a Three-Star rating from Charity Navigator, indicating a solid level of performance in accountability and finance. This rating is based solely on the charity's accountability and finance score, which is notably strong at 80%. The organization demonstrates effective governance practices, with 100% of its board members being independent and a clear conflict of interest policy in place.
In terms of financial management, the ACG Legacy Fund excels with a favorable liabilities to assets ratio and a high program expense ratio, showing that a significant portion of its resources are directed towards its charitable missions. The organization has also maintained thorough documentation of board meeting minutes, enhancing transparency and accountability.
However, while the ratings reflect positive attributes, potential donors should consider the overall impact and effectiveness of the programs supported by the ACG Legacy Fund beyond just financial metrics. Continuous monitoring and further insight into program outcomes could provide a more comprehensive understanding of the charity's effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Acg Legacy Fund legitimate?
Acg Legacy Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Acg Legacy Fund 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Acg Legacy Fund?
The Acg Legacy Fund aims to support and reinforce the objectives of Aitkin County Growth, Inc., which is centered around economic development in Aitkin County. The primary mission of the Acg Legacy Fund is to contribute financially to the projects and activities undertaken by Aitkin County Growth, Inc. Additionally, the fund seeks to discover methods to expand opportunities for economic development, particularly for start-up and expanding businesses within an incubator building. Lastly, the Acg Legacy Fund works towards overcoming obstacles that hinder economic growth.
Who is the CEO of Acg Legacy Fund?
Pat Murphy is the Board Chair of Acg Legacy Fund.
What is the revenue of Acg Legacy Fund?
Acg Legacy Fund's revenue in 2022 was $20,900.
Who are the executives of Acg Legacy Fund and what are their salaries?
There 7 volunteers at Acg Legacy Fund.
Here are 7 key members and their salaries:
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- Compensation: $78,242
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Where can I find the form 990 for Acg Legacy Fund?
Acg Legacy Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Acg Legacy Fund
The Acg Legacy Fund is committed to advancing and supporting the objectives of Aitkin County Growth, Inc., an organization dedicated to economic development in Aitkin County. The primary mission of the Acg Legacy Fund is to contribute financially to projects and activities that align with Aitkin County Growth, Inc.'s mission, thereby promoting economic growth. Moreover, the Acg Legacy Fund actively seeks out opportunities to facilitate start-up and expansion business ventures in the incubator building, and works to overcome obstacles that hinder economic advancement.
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Impact
October, 2024
Acg Legacy Fund significantly enhances economic development in Aitkin County by providing vital financial support to Aitkin County Growth, Inc. Its impact is felt through the funding of projects that stimulate local economic activity, create job opportunities, and facilitate business start-ups and expansions. The fund plays a crucial role in identifying and addressing barriers to economic growth, ensuring that entrepreneurs have the necessary resources to thrive. By fostering an incubator environment, Acg Legacy Fund champions innovation and helps to elevate the local community, ultimately contributing to a more robust and sustainable economy in Aitkin County.
This information is meant to be a general summary of Acg Legacy Fund. 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 2022.
- Investment Income: $3,288
- Gross Receipts: $20,900
Assets and Liabilities:
- Total Assets: $1,130,614
- Total Liabilities: $0
- Net Assets: $1,130,614
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Organization Details
Founding Year
2018
Phone
(218) 927-2172Principal Officer
Pat Murphy
Main Address
316 1ST AVE NW, AITKIN, MN, 56431
NTEE Category
Code: S11 - Community improvement
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