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Nonprofiteer
← THE LEGACY SENIOR COMMUNITIES FOUNDATION

Form 990 for tax year 2022

Filed by THE LEGACY SENIOR COMMUNITIES FOUNDATION.

Totals

Total revenue
$8,100,029
Total expenses
$2,590,053
Contributions and grants received
$5,894,680
Grants paid
$2,284,688
Program service revenue
$0
Investment income
$2,120,979
Other revenue
$84,370
Total assets, end of year
$22,285,661
Total liabilities, end of year
$2,498
Net assets or fund balances, end of year
$22,283,163
Program services expenses (Part IX)
$2,284,688
Management and general expenses
$224,229
Fundraising expenses
$81,136
Program service expenses (Part III)
$2,284,688

Program services were 88.2% 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.

  • 1a · Federated campaigns

    $499,010

  • 1c · Fundraising events

    $637,927

  • 1f · All other contributions, gifts and grants

    $4,757,743

  • 3 · Investment income

    total $789,860 · excluded $789,860

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $10,060 · excluded $10,060

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $1,331,119

  • 7c · Gain or loss

    securities $1,331,119

  • 7d · Net gain or loss

    total $1,331,119 · excluded $1,331,119

  • 8a · Fundraising events: gross income

    $50,000

  • 8a · Fundraising events: contributions included on line 1c

    $637,927

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $50,000 · excluded $50,000

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: SUNDRY INCOME

    total $24,310 · related or exempt $24,310

  • 11e · Other revenue, total

    $24,310

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,284,688 · program services $2,284,688

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $126,056 · management and general $60,336 · fundraising $65,720

  • 8 · Pension plan contributions

    total $10,894 · management and general $5,214 · fundraising $5,680

  • 9 · Other employee benefits

    total $18,675 · management and general $8,939 · fundraising $9,736

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $3,045 · management and general $3,045

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $35,456 · management and general $35,456

  • 11g · Fees: other

    total $83,000 · management and general $83,000

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $26,916 · management and general $26,916

  • 14 · Information technology

    total $254 · management and general $254

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $1,069 · management and general $1,069

  • 23 · Insurance

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $416,801 · end of year $1,109,165

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $200,000 · end of year $3,372,536

  • 4 · Accounts receivable

    beginning of year $84,667 · end of year $69,167

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $7,730,000 · end of year $8,110,000

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $14,423 · end of year $164,122

  • 10a · Land, buildings and equipment: cost or other basis

    $5,500

  • 10b · Land, buildings and equipment: accumulated depreciation

    $5,500

  • 10c · Land, buildings and equipment, net

    beginning of year $1,069 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $8,567,701 · end of year $8,600,367

  • 12 · Investments: other securities

    beginning of year $72,925 · end of year $72,925

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $287,576 · end of year $787,379

  • 17 · Accounts payable and accrued expenses

    beginning of year $12,498 · end of year $2,498

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $179,259 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $13,419,432 · end of year $14,499,616

  • 28 · Net assets with donor restrictions

    beginning of year $3,763,973 · end of year $7,783,547

Mission and programs · 2022

Mission

RAISE FUNDS FOR CREATION AND CONTINUATION OF AN ENDOWMENT. INVEST RAISED FUNDS. DISTRIBUTES FUNDS TO ENHANCE AFFILIATES' ABILITY TO PROVIDE A CONTINUUM OF CARE TO SENIORS AND THEIR FAMILIES.

Activities or mission (Part I)

RAISE FUNDS FOR CREATION AND CONTINUATION OF AN ENDOWMENT. INVEST RAISED FUNDS. DISTRIBUTE FUNDS TO ENHANCE AFFILIATES' ABILITY TO PROVIDE A CONTINUUM OF CARE.

  • DISTRIBUTIONS TO THE LEGACY SENIOR COMMUNITIES, INC., THE LEGACY WILLOW BEND,INC., THE LEGACY MIDTOWN PARK, INC., AND THE LEGACY AT HOME, FOR GENERAL SUPPORT OF ELDER CARE FACILITIES.

    Expenses $2,284,688 · Grants $2,284,688 · Revenue $24,310

As filed on the 2022 return.

Listed in Part VII

  • Melissa Orth

    LSC President/CEO

    Total calculated
    $578,611
    From this org
    $0
    From related orgs
    $556,363
    Other
    $22,248
    Hours/week
    4 + 36 related

    Schedule J breakdown matched by us

    Base
    not reported + $556,363 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $9,150 related
    Nontaxable benefits
    not reported + $13,098 related
    Filer's total
    not reported + $578,611 related

  • Terry Purchal

    CFO

    Total calculated
    $268,162
    From this org
    $0
    From related orgs
    $247,383
    Other
    $20,779
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    not reported + $246,493 related
    Bonus
    not reported + $400 related
    Other
    not reported + $490 related
    Deferred
    not reported + $7,681 related
    Nontaxable benefits
    not reported + $13,098 related
    Filer's total
    not reported + $268,162 related

  • Laura Zych

    Senior Director of Finance

    Total calculated
    $165,883
    From this org
    $0
    From related orgs
    $153,644
    Other
    $12,239
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    not reported + $152,973 related
    Bonus
    not reported + $400 related
    Other
    not reported + $271 related
    Deferred
    not reported + $4,632 related
    Nontaxable benefits
    not reported + $7,607 related
    Filer's total
    not reported + $165,883 related

  • Andrea Statman

    Senior Director Development

    Total calculated
    $142,519
    From this org
    $0
    From related orgs
    $140,416
    Other
    $2,103
    Hours/week
    20 + 20 related

  • SANDY KAUFMAN

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • CAROL AARON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • SANDY DONSKY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • LINDA GARNER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • MARION GLAZER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • AARON HANDLER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • AMY KORENVAES

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Bradley Laye

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Sharon Levin

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Nate Levine

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Stuart Morse

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dan Prescott

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Jeff Rasansky

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Helene Rudberg

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Cindy Spechler

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Fraser Marcus

    LSC CHAIR

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Irving Prengler

    LSC Chair Elect

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Harley Cohen

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 4 related

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 4B
NONQUALIFIED RETIREMENT PLAN PARTICIPATION: THE 457(F) IS A DEFERRED COMPENSATION PLAN THAT ALLOWS LEGACY TO CONTRIBUTE MONEY ON A PRE-TAX BASIS INTO INVESTMENTS THAT PROVIDE KEY EXECUTIVE WITH A RETIREMENT BENEFIT. ALL CONTRIBUTIONS REMAIN AN ASSET OF THE COMPANY UNTIL DISTRIBUTED. MELISSA ORTH PARTICIPATES IN THE 457(F) PLAN BUT NO PAYMENTS WERE MADE IN FY 2023.
SCHEDULE J, PART I, LINE 3
ESTABLISH COMPENSATION: THE LEGACY SENIOR COMMUNITIES INC, USES THE FOLLOWING METHODS TO ESTABLISH COMPENSATION: - APPROVAL BY MANAGEMENT or BOARD OF THE LEGACY SENIOR COMMUNITIES, INC.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
15 August 2024
IRS schema version
2022v5.0
Source object
202442269349301529

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