Cul2vate
Fiscal Year
Fiscal Year Start
01/01/2024
Fiscal Year End
12/31/2024
Projected Revenue
$1,719,318.38
Projected Expenses
$1,710,677.00
Organizational Budgets and Other Documents
| Cul2vate Budget | 2024 |
| Cul2vate Budget | 2022 |
| 2021 Budget | 2021 |
| Revised 2020 Budget | 2020 |
| Budget | 2019 |
| Budget | 2018 |
| Budget | 2017 |
| Cul2vate 2016 Budget | 2016 |
IRS Letter of Exemption
| IRS Letter of Determination |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Revenue | $1,146,577.00 | $1,099,543.00 | $888,893.00 |
| Total Expenses | $1,107,642.00 | $803,509.00 | $513,119.00 |
| Revenue Less Expenses | $38,935.00 | $296,034.00 | $375,774.00 |
Revenue Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Foundation and Corporation Contributions | $0.00 | $0.00 | $261,275.00 |
| Government - Federal | $0.00 | $0.00 | $0.00 |
| Government - State | $0.00 | $0.00 | $25,032.00 |
| Government - Local | $0.00 | $0.00 | $0.00 |
| Government - Unspecified | $0.00 | $0.00 | $0.00 |
| Contributions, Gifts, and Grants | $653,655.00 | $685,702.00 | $375,322.00 |
| Indirect Public Support | $0.00 | $0.00 | $0.00 |
| Earned Revenue | $53,574.00 | $0.00 | $2,653.00 |
| Investment Income, Net of Losses | $12,449.00 | $122.00 | $12.00 |
| Membership Dues | $0.00 | $0.00 | $0.00 |
| Special Events | $319,747.00 | $413,955.00 | $222,895.00 |
| Revenue In-Kind | $77,942.00 | $0.00 | $1,704.00 |
| Other | $29,210.00 | $-236.00 | $0.00 |
Expense Allocation
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Program Expense | $744,474.00 | $545,833.00 | $413,511.00 |
| Administration Expense | $321,840.00 | $180,211.00 | $81,245.00 |
| Fundraising Expense | $41,328.00 | $77,465.00 | $18,363.00 |
| Total Revenue/Total Expenses | 104% | 137% | 173% |
| Program Expense/Total Expenses | 67% | 68% | 81% |
| Fundraising Expense/Contributed Revenue | 4% | 10% | 4% |
Top Funding Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | Contributions, Gifts, and Grants $653,655.00 | Contributions, Gifts, and Grants $685,702.00 | Contributions, Gifts, and Grants $375,322.00 |
| Second Highest Funding Source & Dollar Amount | Fundraising Events $319,747.00 | Fundraising Events $413,955.00 | Foundation and Corporations $261,275.00 |
| Third Highest Funding Source & Dollar Amount | Noncash Contributions $77,942.00 | Investment Income $122.00 | Fundraising Events $222,895.00 |
Assets and Liabilities
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $1,573,917.00 | $1,132,282.00 | $838,490.00 |
| Current Assets | $1,227,199.00 | $963,414.00 | $774,408.00 |
| Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
| Current Liabilities | $27,198.00 | $10,577.00 | $1,418.00 |
| Total Net Assets | $1,546,719.00 | $1,121,705.00 | $837,072.00 |
Endowment Info
Do you have an endowment?
No
Capital Campaign Info
Are you currently in a Capital Campaign?
No
Do you anticipate a campaign in the next 5 years?
Yes
Solicitation Permit Info
State Charitable Solicitations Permit
Under Extension
Solicitations Permit
Form 990s
| 990 | 2023 |
| 990 | 2022 |
| 2021 Form 990 | 2021 |
| Cul2vate 2020 Form 990 | 2020 |
| Cul2vate Complete Form 990 | 2019 |
| 2018 990 | 2018 |
| 2017 990 | 2017 |
| 990-EZ | 2016 |
| 990-EZ | 2015 |
| 2014 990N | 2014 |
Audit Documents
| Audited Financials | 2023 |
| Audited Financials | 2022 |
| Financial Review | 2021 |
CEO/Executive Director/Board Comments
| Being financially sound as an organization is always a top priority. (1) Currently, we are growing while remaining true to our core mission. While so many things have been accomplished thus far, we are still a fairly young organization working to cover infrastructure costs especially during this time of growth and change. (2) Our goal for 2027 is to increase our food production even higher, add more community and partner farms, and train 50 Cul2vators. (3) Cul2vate works to maintain financial transparency. (4) As we expand and have more strategic partners, we will also be looking to procure land near the Nashville Area to provide an even larger flagship farm where we can continue growing food and growing people. |
Foundation Staff Comments
| Financial data compiled by Form 990. Schedule B removed to protect donor privacy. Form 990 prepared by B A Beasley and Company, PLLC. Comment provided by Hayley Sulfridge 12/5/24. |
