Ashby Legacy Fund

Analysis

Ashby Legacy Fund is a registered charity in United States, based in Ashby, MN. It received its IRS tax-exemption ruling in March 2019, 7 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Ashby Legacy Fund reported income of $325k and spending of $246k, leaving 24% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $765k to $325k (-58%), an average of -19% a year. The sharpest change came in the year to December 2022, when income rose by 83%. Over the whole period it spent 46% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Ashby Legacy Fund sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 62nd percentile within MN. Charities of a similar size with the same main cause include Live Oak Preschool ($325k), Delaware Valley Science Fairs Inc ($325k) and Temple University Law Foundation ($325k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $24k (9.8% of expenses). At year end it held assets of $1.5m against liabilities of $0, net assets of $1.5m.