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← FLOYD COUNTY LEGACY FOUNDATION

Form 990 for tax year 2023

Filed by FLOYD COUNTY LEGACY FOUNDATION.

Totals

Total revenue
$856,845
Total expenses
$1,997,748
Contributions and grants received
$0
Grants paid
$1,897,042
Program service revenue
$0
Investment income
$856,845
Other revenue
$0
Total assets, end of year
$30,755,283
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$30,755,283
Program services expenses (Part IX)
$1,990,848
Management and general expenses
$6,900
Fundraising expenses
$0
Program service expenses (Part III)
$1,990,848

Program services were 99.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 3 · Investment income

    total $633,232 · related or exempt $633,232

  • 7a · Gross sales of assets other than inventory

    securities $6,076,001

  • 7b · Less cost or other basis and sales expenses

    securities $5,852,388

  • 7c · Gain or loss

    securities $223,613

  • 7d · Net gain or loss

    total $223,613 · related or exempt $223,613

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,897,042 · program services $1,897,042

  • 11c · Fees: accounting

    total $6,900 · management and general $6,900

  • 11f · Fees: investment management

    total $58,043 · program services $58,043

  • 11g · Fees: other

    total $31,500 · program services $31,500

  • 12 · Advertising and promotion

    total $1,600 · program services $1,600

  • 24a · Other expenses: FOREIGN TAXES

    total $2,663 · program services $2,663

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,175,138 · end of year $1,235,952

  • 11 · Investments: publicly traded securities

    beginning of year $27,147,248 · end of year $29,519,331

  • 27 · Net assets without donor restrictions

    beginning of year $28,322,386 · end of year $30,755,283

Mission and programs · 2023

Mission

TO PROVIDE ENDOWED FUNDS AS A RESOURCE TO HELP MEET COMMUNITY NEEDS TODAY AND PROVIDE FOR THOSE CHANGING NEEDS FOR THE FUTURE GENERATIONS BY ENCOURAGING PHILANTHROPIC LEADERSHIP AND FLEXIBLE CHARITABLE OPPORTUNITIES.

Activities or mission (Part I)

PROVIDE ENDOWED FUNDS AS A RESOURCE TO HELP MEET COMMUNITY NEEDS AND PROVIDE FOR THOSE CHANGING NEEDS FOR THE FUTURE GENERATIONS BY ENCOURAGING PHILANTHROPIC LEADERSHIP AND FLEXIBLE CHARITABLE OPPORTUNITIES.

  • TO PROVIDE ENDOWED FUNDS AS A RESOURCE TO HELP MEET COMMUNITY NEEDS TODAY AND PROVIDE FOR THOSE CHANGING NEEDS FOR THE FUTURE GENERATIONS BY ENCOURAGING PHILANTHROPIC LEADERSHIP AND FLEXIBLE CHARITABLE OPPORTUNITIES.

    Expenses $1,990,848 · Grants $1,897,042 · Revenue $856,845

As filed on the 2023 return.

Listed in Part VII

  • Steve Burks

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    5

  • Dale Bagshaw

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Ray Chinn

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Bill White

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Al Knable

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202403209349309030

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.