ACCELERATING CIRCULARITY INC

EIN: 843906295 501(c)(3) Environment

MIDDLE TOWN, NY

Total Revenue
$835,976
Total Expenses
$1,470,991
Total Assets
$2,333,264
Net Assets
$2,247,815
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2019
Legal Domicile
DE
Principal Officer
KARLA MAGRUDER
Phone
9174103188
Tax Period
2024-01-01 to 2024-12-31

ACCELERATING CIRCULARITY INC, founded in 2019, is a small nonprofit in the Environment sector that reported $836K in total revenue in fiscal year 2024. Revenue fell 65% from the prior year — a significant decline worth monitoring. Expenses of $1.5M exceeded revenue, resulting in a 76% operating deficit.

Mission

TO ESTABLISH SYSTEMS THAT WILL USE THE EMBEDDED VALUE AND RESOURCES IN EXISTING TEXTILES FOR NEW PRODUCTS, REDUCING THE MILLIONS OF TONS OF TEXTILE WASTE ANNUALLY GOING INTO LANDFILLS AND THEREBY SUPPORTING THE REDUCTION OF THE INDUSTRY'S GHG EMISSIONS.

Program Service Accomplishments

Program 1
Expenses: $1,078,364

THE EXPENSES AS REPORTED IN PART IX WERE INCURRED TO TRANSFORM TEXTILE SUPPLY CHAINS FROM LINEAR TO CIRCULAR, THEREBY REDUCING TEXTILE WASTE AND HELPING THE ENVIRONMENT.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $15,000
Program Service Revenue $748,252
Investment Income $72,088
Other Revenue $636
TOTAL REVENUE $835,976

Expense Breakdown

Grants Paid $0
Salaries & Benefits $774,020
Fundraising Expenses $133,058
Program Expenses $1,078,364
Other Expenses $696,971
TOTAL EXPENSES $1,470,991

Year-over-Year Comparison

2024 2023 Change
Revenue $835,976 $2,367,399 -0.6%
Expenses $1,470,991 $1,290,148 +0.1%
Net Income $-635,015 $1,077,251 -1.6%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
7
Independent Members
5
Employees
9
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$385,000
Total Directors
7
$385,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KARLA MAGRUDER PRESIDENT 40.00
Officer Director
$225,000 $0 $225,000
EDWARD DENES TREASURER 0.50
Officer Director
$0 $0 $0
TRICIA CAREY SECRETARY 0.50
Officer Director
$0 $0 $0
ALICE HARTLEY DIRECTOR 0.50
Director
$0 $0 $0
EILEEN MOCKUS DIRECTOR 0.50
Director
$0 $0 $0
STEVEN BETHELL DIRECTOR 0.50
Director
$0 $0 $0
SHELLY GOTTSCHAMER VICE PRESIDENT 40.00
Officer Director
$160,000 $0 $160,000
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $835,976 $1,470,991 $2,333,264 $-635,015
2023 $2,367,399 $1,290,148 $3,040,385 $1,077,251
2022 $1,085,091 $823,349 $1,850,579 $261,742
2021 $784,623 $587,988 $1,543,837 $196,635
2020 $1,668,390 $346,662 $1,352,002 $1,321,728
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