Form 990 for tax year 2022

Filed by THE LEGACY FOUNDATION OF HARTFORD INC.

Totals

Total revenue: $1,095,101
Total expenses: $1,050,986
Contributions and grants received: $1,091,867
Grants paid: $0
Program service revenue: $0
Investment income: $149
Other revenue: $3,085
Total assets, end of year: $986,851
Total liabilities, end of year: $827,040
Net assets or fund balances, end of year: $159,811
Program services expenses (Part IX): $940,709
Management and general expenses: $77,789
Fundraising expenses: $32,488
Program service expenses (Part III): $940,709

Program services were 89.5% 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.

1e · Government grants (contributions)

$970,803
1f · All other contributions, gifts and grants

$121,064
3 · Investment income

total $149 · unrelated business $0 · excluded $149
8a · Fundraising events: gross income

$11,150
8b · Fundraising events: direct expenses

$8,065
8c · Net income from fundraising events

total $3,085 · unrelated business $0 · excluded $3,085

Functional expenses

Part IX, the statement of functional expenses.

5 · Compensation of officers, directors and key employees

total $56,997 · program services $56,551 · management and general $446 · fundraising $0
7 · Other salaries and wages

total $141,325 · program services $140,218 · management and general $1,107 · fundraising $0
10 · Payroll taxes

total $15,024 · program services $14,499 · management and general $525 · fundraising $0
11c · Fees: accounting

total $31,500 · program services $0 · management and general $31,500 · fundraising $0
11g · Fees: other

total $575,884 · program services $528,347 · management and general $26,737 · fundraising $20,800
13 · Office expenses

total $17,994 · program services $11,696 · management and general $5,960 · fundraising $338
16 · Occupancy

total $56,615 · program services $53,330 · management and general $3,285 · fundraising $0
23 · Insurance

total $1,466 · program services $0 · management and general $1,466 · fundraising $0
24a · Other expenses: Experiential Trips

total $35,115 · program services $35,115 · management and general $0 · fundraising $0
24b · Other expenses: Scholar Program Meals and Support

total $100,953 · program services $100,953 · management and general $0 · fundraising $0
24c · Other expenses: Supplies

total $6,763 · program services $0 · management and general $6,763 · fundraising $0
24d · Other expenses: Donations

total $11,350 · program services $0 · management and general $0 · fundraising $11,350

Balance sheet

Part X, book values.

2 · Savings and temporary cash investments

beginning of year $133,456 · end of year $972,849
4 · Accounts receivable

beginning of year $0 · end of year $1,090
9 · Prepaid expenses and deferred charges

beginning of year $350 · end of year $12,442
10a · Land, buildings and equipment: cost or other basis

$3,518
10b · Land, buildings and equipment: accumulated depreciation

$3,518
10c · Land, buildings and equipment, net

beginning of year $0 · end of year $0
15 · Other assets

beginning of year $470 · end of year $470
17 · Accounts payable and accrued expenses

beginning of year $1,880 · end of year $79,611
19 · Deferred revenue

beginning of year $15,600 · end of year $0
25 · Other liabilities

beginning of year $1,100 · end of year $747,429
27 · Net assets without donor restrictions

beginning of year $108,010 · end of year $151,121
28 · Net assets with donor restrictions

beginning of year $7,686 · end of year $8,690

Mission and programs · 2022

Mission

To address educational and health disparities for residents of Greater Hartford Connecticut, its youth in particular. It does so via its own initiatives, such as LEAP, and by supporting numerous community projects that align with its mission.

Activities or mission (Part I)

To address educational and health disparities for residents of the North End of Hartford, its youth in particular. It does so via its own initiatives, such as LEAP, and by supporting numerous community projects that align with its mission.

The Legacy Foundation of Hartford provides 75 students with educational enrichment through our flagship program; Legacy Exposure and Access Program (LEAP). LEAP is a comprehensive approach to enhancing academic success, beginning in elementary school continuing through completion of high school with emphasis on college prep development. LEAP seeks to serve Legacy Scholars who are Greater Hartford residents (3rd through 12th Graders) and Legacy students attending college.

Expenses $940,709

As filed on the 2022 return.

Listed in Part VII

Greg Jones

Chairman/Executive Director

Total calculated

$57,090

From this org

$57,090

From related orgs

$0

Other

$0

Hours/week

40
Phil Kane

Vice Chairman

Total calculated

$0

Hours/week

2
Joe Santana

Secretary/Treasurer

Total calculated

$0

Hours/week

2
Sam Galloway

Member at Large

Total calculated

$0

Hours/week

2

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

No itemized grants to organizations on this return.

Provenance

Return type: form_990
Tax year: 2022
Filed: 25 April 2024
IRS schema version: 2022v5.0
Source object: 202431239349300918

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