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Nonprofiteer
← THE LEGACY FOUNDATION AT SHELL POINT INC

Form 990 for tax year 2023

Filed by THE LEGACY FOUNDATION AT SHELL POINT INC.

Totals

Total revenue
$4,292,179
Total expenses
$4,517,221
Contributions and grants received
$3,986,790
Grants paid
$3,738,037
Program service revenue
$330,562
Investment income
$0
Other revenue
-$25,173
Total assets, end of year
$3,901,625
Total liabilities, end of year
$972,307
Net assets or fund balances, end of year
$2,929,318
Program services expenses (Part IX)
$4,196,691
Management and general expenses
$93,229
Fundraising expenses
$227,301
Program service expenses (Part III)
$4,196,691

Program services were 92.9% 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.

  • 1c · Fundraising events

    $102,795

  • 1f · All other contributions, gifts and grants

    $3,883,995

  • 2a · Program service revenue: DAILY MONEY MANAGMENT SERVICES

    total $228,881 · related or exempt $228,881

  • 2b · Program service revenue: ESTATE SETTLEMENT SERVICES

    total $33,713 · related or exempt $33,713

  • 2c · Program service revenue: FIDUCIARY SERVICES

    total $67,968 · related or exempt $67,968

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8a · Fundraising events: gross income

    $0

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

    $102,795

  • 8b · Fundraising events: direct expenses

    $25,423

  • 8c · Net income from fundraising events

    total -$25,423 · excluded -$25,423

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $250 · excluded $250

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $250

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,738,037 · program services $3,738,037

  • 5 · Compensation of officers, directors and key employees

    total $225,886 · program services $67,766 · management and general $67,766 · fundraising $90,354

  • 7 · Other salaries and wages

    total $342,830 · program services $280,034 · fundraising $62,796

  • 8 · Pension plan contributions

    total $11,769 · program services $7,198 · management and general $1,402 · fundraising $3,169

  • 9 · Other employee benefits

    total $14,385 · program services $8,797 · management and general $1,714 · fundraising $3,874

  • 10 · Payroll taxes

    total $36,602 · program services $22,384 · management and general $4,361 · fundraising $9,857

  • 11b · Fees: legal

    total $2,377 · management and general $2,377

  • 11c · Fees: accounting

    total $7,140 · management and general $7,140

  • 11g · Fees: other

    total $1,233 · program services $0 · management and general $1,233 · fundraising $0

  • 12 · Advertising and promotion

    total $20,416 · program services $18,374 · management and general $1,021 · fundraising $1,021

  • 13 · Office expenses

    total $10,053 · program services $8,393 · management and general $830 · fundraising $830

  • 14 · Information technology

    total $12,943 · program services $9,989 · management and general $1,477 · fundraising $1,477

  • 17 · Travel

    total $10,976 · program services $4,390 · management and general $3,293 · fundraising $3,293

  • 19 · Conferences, conventions and meetings

    total $1,182 · program services $828 · management and general $177 · fundraising $177

  • 22 · Depreciation, depletion and amortization

    total $406 · program services $406

  • 23 · Insurance

    total $11,233 · program services $11,233

  • 24a · Other expenses: EQUIPMENT RENTAL

    total $5,003 · program services $4,753 · management and general $125 · fundraising $125

  • 24b · Other expenses: SPECIAL EVENTS

    total $49,564 · fundraising $49,564

  • 24c · Other expenses: MISCELLANEOUS EXPENSE

    total $15,186 · program services $14,109 · management and general $313 · fundraising $764

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $345,816 · end of year $87,758

  • 3 · Pledges and grants receivable

    beginning of year $1,048,418 · end of year $40,000

  • 4 · Accounts receivable

    beginning of year $5,742 · end of year $5,742

  • 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

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,711 · end of year $16,079

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

    $20,914

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

    $19,019

  • 10c · Land, buildings and equipment, net

    beginning of year $2,302 · end of year $1,895

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $3,590,807 · end of year $3,750,151

  • 17 · Accounts payable and accrued expenses

    beginning of year $40,191 · end of year $54,186

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $1,795,869 · end of year $918,121

  • 27 · Net assets without donor restrictions

    beginning of year -$1,573,437 · end of year -$913,259

  • 28 · Net assets with donor restrictions

    beginning of year $4,735,173 · end of year $3,842,577

Mission and programs · 2023

Mission

TO SERVE AND SUPPORT THE CHRISTIAN AND MISSIONARY ALLIANCE FOUNDATION, INC. D/B/A SHELL POINT RETIREMENT COMMUNITY.

  • THE ORGANIZATION OBTAINS FUNDING TO ENHANCE THE PROGRAMS AND SERVICES PROVIDED BY THE CHRISTIAN AND MISSIONARY ALLIANCE FOUNDATION, INC.

    Expenses $3,738,037 · Grants $3,738,037

  • THE ORGANIZATION PROVIDED PHILANTHROPIC, FINANCIAL AND ESTATE PLANNING SERVICES FOR ITS RETIREMENT COMMUNITY RESIDENTS: INCLUDING DAILY MONEY MANAGEMENT SERVICES TO OVER 150 RESIDENTS OF SHELL POINT RETIREMENT COMMUNITY. THE FOUNDATION'S PROGRAMS, SERVICES AN RESULTS ARE DETAILED PERIODICALLY IN VARIOUS ORGANIZATIONAL PUBLICATIONS AND AN ANNUAL COMMUNITY REPORT.

    Expenses $357,639 · Revenue $262,594

  • IN ADDITION TO PROVIDING DAILY MONEY MANAGEMENT SERVICES, THE ORGANIZATION SERVES IN A FIDUCIARY ROLE FOR RESIDENTS OF SHELL POINT RETIREMENT COMMUNITY.

    Expenses $101,015 · Revenue $67,968

As filed on the 2023 return.

Listed in Part VII

  • John W Davidson

    Secretary/Treasurer

    Total calculated
    $0
    Hours/week
    0.5 + 1.3 related

  • Wanda Anderson

    Chairman

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Archie L White Sr

    Director

    Total calculated
    $0
    Hours/week
    0.5 + 1.5 related

  • Rev Charles B Dewitt

    Director

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Burke Rainey

    VP of Finance/CFO/Asst Treas

    Total calculated
    $537,213
    From this org
    $0
    From related orgs
    $464,464
    Other
    $72,749
    Hours/week
    0.5 + 40.3 related

    Schedule J breakdown matched by us

    Base
    $0 + $361,351 related
    Bonus
    $0 + $92,212 related
    Other
    $0 + $10,901 related
    Deferred
    $0 + $45,000 related
    Nontaxable benefits
    $0 + $27,749 related
    Filer's total
    $0 + $537,213 related

  • Martin Schappell

    President/CEO/Asst Secretary

    Total calculated
    $842,190
    From this org
    $0
    From related orgs
    $790,108
    Other
    $52,082
    Hours/week
    0.5 + 40.3 related

    Schedule J breakdown matched by us

    Base
    $0 + $613,099 related
    Bonus
    $0 + $162,256 related
    Other
    $0 + $14,753 related
    Deferred
    $0 + $30,000 related
    Nontaxable benefits
    $0 + $22,082 related
    Filer's total
    $0 + $842,190 related

  • Jeff Cory

    Executive Director

    Total calculated
    $228,887
    From this org
    $225,887
    From related orgs
    $0
    Other
    $3,000
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $225,887
    Bonus
    $0
    Other
    $0
    Deferred
    $3,000
    Nontaxable benefits
    $0
    Filer's total
    $228,887

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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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

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
11 April 2025
IRS schema version
2023v6.0
Source object
202511009349300946

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