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← LEGACY ENDOWMENT-THE COMMUNITY FOUNDATION

Form 990 for tax year 2023

Filed by LEGACY ENDOWMENT-THE COMMUNITY FOUNDATION.

Totals

Total revenue
$906,407
Total expenses
$1,236,652
Contributions and grants received
$228,169
Grants paid
$938,486
Program service revenue
$0
Investment income
$508,392
Other revenue
$169,846
Total assets, end of year
$14,108,589
Total liabilities, end of year
$966,001
Net assets or fund balances, end of year
$13,142,588
Program services expenses (Part IX)
$1,035,411
Management and general expenses
$190,600
Fundraising expenses
$10,641
Program service expenses (Part III)
$1,035,411

Program services were 83.7% 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.

  • 1f · All other contributions, gifts and grants

    $228,169

  • 3 · Investment income

    total $271,526 · related or exempt $24,680 · excluded $246,846

  • 7a · Gross sales of assets other than inventory

    securities $4,026,808

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

    securities $3,789,942

  • 7c · Gain or loss

    securities $236,866

  • 7d · Net gain or loss

    total $236,866 · related or exempt $236,866

  • 11a · Other revenue: LEGACY SERVICE FEES

    total $169,846 · related or exempt $169,846

  • 11e · Other revenue, total

    $169,846

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $906,936 · program services $906,936

  • 2 · Grants to domestic individuals

    total $31,550 · program services $31,550

  • 7 · Other salaries and wages

    total $118,256 · program services $4,730 · management and general $108,796 · fundraising $4,730

  • 10 · Payroll taxes

    total $9,323 · program services $373 · management and general $8,577 · fundraising $373

  • 11c · Fees: accounting

    total $56,322 · program services $2,253 · management and general $51,816 · fundraising $2,253

  • 11f · Fees: investment management

    total $83,937 · program services $83,937

  • 12 · Advertising and promotion

    total $8,168 · program services $1,633 · management and general $4,901 · fundraising $1,634

  • 13 · Office expenses

    total $11,151 · program services $3,405 · management and general $6,567 · fundraising $1,179

  • 16 · Occupancy

    total $10,300 · program services $412 · management and general $9,476 · fundraising $412

  • 20 · Interest

    total $105 · management and general $105

  • 23 · Insurance

    total $604 · program services $182 · management and general $362 · fundraising $60

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $115,378 · end of year $91,533

  • 4 · Accounts receivable

    beginning of year $41,187 · end of year $10,078

  • 11 · Investments: publicly traded securities

    beginning of year $13,191,565 · end of year $13,969,151

  • 15 · Other assets

    beginning of year $26,914 · end of year $37,827

  • 25 · Other liabilities

    beginning of year $1,253,275 · end of year $966,001

  • 28 · Net assets with donor restrictions

    beginning of year $12,121,769 · end of year $13,142,588

Mission and programs · 2023

Mission

TO ENHANCE AND PRESERVE A HIGHER QUALITY OF LIFE FOR COMMUNITIES BY FACILITATING PHILANTHROPY FOR FAMILIES, INDIVDUALS AND NONPROFITS.

  • THE FOUNDATION MAKES GRANTS FROM THE VARIOUS ENDOWMENTS, DONOR-ADVISED, SPECIAL PROJECTS AND PASS-THRU FUNDS THAT IT HOLDS. LEGACY ENDOWMENT...THE COMMUNITY FOUNDATION IS COMMITTED TO IMPROVING THE QUALITY OF LIFE IN THE FALLBROOK AND GREATER SAN DIEGO AREA BY SUPPORTING LOCAL CHARITIES IN THE FOLLOWING AREAS: ARTS/CULTURE, EDUCATION/TRAINING, HEALTH & HUMAN SERVICES, MEDICAL RESEARCH, SENIOR CAUSES AND PROGRAMS FOR THE DISABLED. THE FOUNDATION HAS AN UNDERSTANDING OF THE NEEDS OF THE COMMUNITY AND CAN CONNECT THE DONOR WITH THOSE NON-PROFIT ORGANIZATIONS THAT CAN MEET THOSE NEEDS.

    Expenses $871,722 · Grants $871,722

  • THE FOUNDATION GRANTS SCHOLARSHIPS FOR STUDENTS ATTENDING INSTITUTIONS OF HIGHER EDUCATION AND VOCATION/TECHNICAL EDUCATION INSTITUTIONS. ALL SCHOLARSHIPS ARE PAID DIRECTLY TO THE EDUCATIONAL INSTITUTION.

    Expenses $66,764 · Grants $66,764

  • ADMINISTRATION COSTS ALLOCATED TO PROGRAM SERVICE EXPENSES.

    Expenses $96,925

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Rachel Mason

    PAST PRESIDE

    Total calculated
    $0
    Hours/week
    2

  • Wallace Tucker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Roy Moosa

    PRESIDENT

    Total calculated
    $0
    Hours/week
    4

  • Laura Holck

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Matthew Obermueller

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Michael Dunlap

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    2

  • Howard Salmon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Laurene Sooper

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Susan Woodward

    DIRECTOR

    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

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

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • LEGACY PROPERTIES LLC

    REAL ESTAT · CA

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2024
IRS schema version
2023v6.0
Source object
202511359349309356

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