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← LEGACY TITLE HOLDING CORPORATION

Form 990 for tax year 2023

Filed by LEGACY TITLE HOLDING CORPORATION.

Totals

Total revenue
$3,496,748
Total expenses
$2,515,278
Contributions and grants received
$1,640,443
Grants paid
$2,001,422
Program service revenue
$187,403
Investment income
$1,535,882
Other revenue
$133,020
Total assets, end of year
$13,835,254
Total liabilities, end of year
$164,544
Net assets or fund balances, end of year
$13,670,710
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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.

  • 1d · Related organizations

    $1,621,633

  • 1f · All other contributions, gifts and grants

    $18,810

  • 1g · Noncash contributions included above

    $717,535

  • 2a · Program service revenue: RENTAL INCOME

    total $187,403 · related or exempt $187,403

  • 3 · Investment income

    total $20,227 · excluded $20,227

  • 7a · Gross sales of assets other than inventory

    other assets $2,350,000

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

    other assets $834,345

  • 7c · Gain or loss

    other assets $1,515,655

  • 7d · Net gain or loss

    total $1,515,655 · excluded $1,515,655

  • 11a · Other revenue: REIMBURSED EXPENSES

    total $133,020 · related or exempt $133,020

  • 11e · Other revenue, total

    $133,020

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,001,422

  • 11b · Fees: legal

    total $500

  • 11c · Fees: accounting

    total $2,165

  • 11g · Fees: other

    total $129

  • 13 · Office expenses

    total $80

  • 16 · Occupancy

    total $127,396

  • 20 · Interest

    total $11,927

  • 22 · Depreciation, depletion and amortization

    total $371,659

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $49,059 · end of year $71,041

  • 7 · Other notes and loans receivable

    end of year $250,227

  • 9 · Prepaid expenses and deferred charges

    end of year $14,094

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

    $16,607,604

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

    $3,107,712

  • 10c · Land, buildings and equipment, net

    beginning of year $13,149,731 · end of year $13,499,892

  • 23 · Secured mortgages and notes payable

    beginning of year $509,550 · end of year $164,544

  • 27 · Net assets without donor restrictions

    beginning of year $12,689,240 · end of year $13,670,710

Mission and programs · 2023

Mission

NONE

Activities or mission (Part I)

THE ORGANIZATION IS A 501(C)(2) ORGANIZATION AND WAS CREATED TO HOLD TITLE OF PROPERTY.

  • THE ORGANIZATION IS A TITLE HOLDING ORGANIZATION AND LEASES THE PROPERTY IT HOLDS.

As filed on the 2023 return.

Listed in Part VII

  • Jacob Sheriff

    PAST PRES./T

    Total calculated
    $170,126
    From this org
    $0
    From related orgs
    $88,124
    Other
    $82,002
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $83,141 related
    Bonus
    not reported
    Other
    not reported + $4,983 related
    Deferred
    not reported + $6,107 related
    Nontaxable benefits
    not reported + $75,895 related
    Filer's total
    not reported + $170,126 related

  • Denny Hall

    SECRETARY/TR

    Total calculated
    $0
    Hours/week
    1

  • Ryan Johnson

    PRESIDENT/TR

    Total calculated
    $0
    Hours/week
    1

  • Greg Massey

    VICE PRES./T

    Total calculated
    $0
    Hours/week
    1

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

The filer's explanations (Part III)

SCHEDULE J, PAGE 1, PART I, LINE 4
JACOB SHERIFF 0 6,107 0

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
2023
Filed
6 June 2024
IRS schema version
2023v5.0
Source object
202401589349300430

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