Form 990 for tax year 2024
Filed by THE LEGACY SENIOR COMMUNITIES FOUNDATION.
Totals
- Total revenue
- $3,021,640
- Total expenses
- $2,580,993
- Contributions and grants received
- $2,381,524
- Grants paid
- $2,132,270
- Program service revenue
- $0
- Investment income
- $928,541
- Other revenue
- -$288,425
- Total assets, end of year
- $23,450,240
- Total liabilities, end of year
- $25,886
- Net assets or fund balances, end of year
- $23,424,354
- Program services expenses (Part IX)
- $2,296,297
- Management and general expenses
- $191,941
- Fundraising expenses
- $92,755
- Program service expenses (Part III)
- $2,296,297
Program services were 89.0% 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.
-
1c · Fundraising events
$567,320
-
1f · All other contributions, gifts and grants
$1,814,204
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $800,232 · excluded $800,232
-
5 · Royalties
total $4,896 · excluded $4,896
-
6c · Rental income or loss
real property $0 · personal property $0
-
7a · Gross sales of assets other than inventory
securities $897,515
-
7b · Less cost or other basis and sales expenses
securities $769,206
-
7c · Gain or loss
securities $128,309 · other assets $0
-
7d · Net gain or loss
total $128,309 · excluded $128,309
-
8a · Fundraising events: gross income
$0
-
8a · Fundraising events: contributions included on line 1c
$567,320
-
8b · Fundraising events: direct expenses
$293,321
-
8c · Net income from fundraising events
total -$293,321 · excluded -$293,321
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $2,132,270 · program services $2,132,270
-
4 · Benefits paid to or for members
total $0 · program services $0
-
7 · Other salaries and wages
total $178,732 · management and general $90,425 · fundraising $88,307
-
9 · Other employee benefits
total $862 · management and general $436 · fundraising $426
-
11c · Fees: accounting
total $3,570 · management and general $3,570
-
11f · Fees: investment management
total $42,916 · management and general $42,916
-
11g · Fees: other
total $4,022 · program services $0 · management and general $0 · fundraising $4,022
-
12 · Advertising and promotion
total $9,220 · management and general $9,220
-
13 · Office expenses
total $45,104 · management and general $45,104
-
14 · Information technology
total $270 · management and general $270
-
24a · Other expenses: MISCELLANEOUS PROGRAM EXPENSES
total $164,027 · program services $164,027
-
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 $1,512,992 · end of year $504,229
-
2 · Savings and temporary cash investments
beginning of year $0 · end of year $0
-
3 · Pledges and grants receivable
beginning of year $2,443,394 · end of year $2,999,682
-
4 · Accounts receivable
beginning of year $73,276 · end of year $360,000
-
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 $7,990,000 · end of year $7,870,000
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $36,243 · end of year $13,598
-
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 $0 · end of year $0
-
11 · Investments: publicly traded securities
beginning of year $9,955,533 · end of year $10,008,188
-
12 · Investments: other securities
beginning of year $72,925 · end of year $72,925
-
13 · Investments: program-related
beginning of year $0
-
15 · Other assets
beginning of year $1,155,445 · end of year $1,621,618
-
17 · Accounts payable and accrued expenses
beginning of year $25,734 · end of year $13,197
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $155,544 · end of year $12,689
-
27 · Net assets without donor restrictions
beginning of year $14,515,371 · end of year $14,625,863
-
28 · Net assets with donor restrictions
beginning of year $8,543,159 · end of year $8,798,491
Mission and programs · 2024
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.
-
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 $2,296,297 · Grants $2,132,270
As filed on the 2024 return.
Listed in Part VII
-
CAROL AARON
CHAIR
- Total calculated
- $0
- Hours/week
- 1 + 4 related
-
MELISSA ORTH
PRESIDENT/CEO
- Total calculated
- $668,685
- From this org
- $0
- From related orgs
- $591,366
- Other
- $77,319
- Hours/week
- 4 + 36 related
Schedule J breakdown matched by us
- Base
- $0 + $591,366 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $64,350 related
- Nontaxable benefits
- $0 + $12,969 related
- Filer's total
- $0 + $668,685 related
-
AMY KORENVAES
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
BRADLEY LAYE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1 + 4 related
-
DAN PRESCOTT
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1 + 4 related
-
HELENE COHEN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
IRVING PRENGLER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1 + 4 related
-
JACK BAUM
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1 + 4 related
-
JEFF RASANSKY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1 + 4 related
-
LINDA GARNER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
MICHELLE BERGER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1 + 4 related
-
SANDY DONSKY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
SANDY KAUFMAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1 + 4 related
-
STUART MORSE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1 + 4 related
-
SUSIE CARP
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1 + 4 related
-
SCOTT SNORTON
CFO
- Total calculated
- $161,225
- From this org
- $0
- From related orgs
- $148,934
- Other
- $12,291
- Hours/week
- 5 + 35 related
Schedule J breakdown matched by us
- Base
- $0 + $148,934 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $2,304 related
- Nontaxable benefits
- $0 + $9,987 related
- Filer's total
- $0 + $161,225 related
-
ANDREA STATMAN
CHIEF ADVANCEMENT OFFICER
- Total calculated
- $152,228
- From this org
- $0
- From related orgs
- $149,981
- Other
- $2,247
- Hours/week
- 20 + 20 related
Schedule J breakdown matched by us
- Base
- $0 + $148,599 related
- Bonus
- $0
- Other
- $0 + $1,382 related
- Deferred
- $0 + $2,247 related
- Nontaxable benefits
- $0
- Filer's total
- $0 + $152,228 related
-
CARRIE WHITE
CONTROLLER
- Total calculated
- $196,515
- From this org
- $0
- From related orgs
- $180,388
- Other
- $16,127
- Hours/week
- 5 + 35 related
Schedule J breakdown matched by us
- Base
- $0 + $180,138 related
- Bonus
- $0 + $250 related
- Other
- $0
- Deferred
- $0 + $5,582 related
- Nontaxable benefits
- $0 + $10,545 related
- Filer's total
- $0 + $196,515 related
-
TERRY PURCHAL
CFO (FORMER)
- Total calculated
- $130,199
- From this org
- $0
- From related orgs
- $120,876
- Other
- $9,323
- Hours/week
- 0
Schedule J breakdown matched by us
- Base
- $0 + $100,186 related
- Bonus
- $0
- Other
- $0 + $20,690 related
- Deferred
- $0 + $3,735 related
- Nontaxable benefits
- $0 + $5,588 related
- Filer's total
- $0 + $130,199 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 3 ARRANGEMENT USED TO ESTABLISH THE TOP MANAGEMENT OFFICIAL'S COMPENSATION
- LEGACY SENIOR COMMUNITIES, INC. DETERMINES THE COMPENSATION OF ALL ITS RELATED ORGANIZATIONS EMPLOYEES. COMPENSATION IS DETERMINED BY COMPENSATION SURVEY OR STUDY; APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE; & WRITTEN EMPLOYMENT CONTRACT.
- SCHEDULE J, PART I, LINE 4B SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN
- THE 457(F) IS A DEFERRED COMPENSATION PLAN THAT ALLOWS LEGACY TO CONTRIBUTE MONEY INTO INVESTMENTS THAT PROVIDE KEY EXECUTIVES WITH A RETIREMENT BENEFIT. MELISSA ORTH PARTICIPATES IN THE 457(F) PLAN AND $54,000 WAS DEFERRED FOR CALENDAR YEAR 2024.
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
-
$1,764,607
GRATEFUL HEARTS RESIDENT ASSISTANCE
-
$323,226
GRATEFUL HEARTS RESIDENT ASSISTANCE
-
$44,437
GRATEFUL HEARTS RESIDENT ASSISTANCE
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.
-
THE LEGACY SENIOR COMMUNITIES INC
501(C)(3) · MANAGEMENT SERVICES · TX
Directly controlled by NA
-
501(C)(3) · HOME HEALTH · TX
Directly controlled by THE LEGACY SENIOR COMMUNITIES INC
-
501(C)(3) · RETIREMENT COMMUNITY · TX
Directly controlled by THE LEGACY SENIOR COMMUNITIES INC
-
501(C)(3) · RETIREMENT COMMUNITY · TX
Directly controlled by THE LEGACY SENIOR COMMUNITIES INC
Provenance
- Return type
- form_990
- Tax year
- 2024
- IRS schema version
- 2024v5.1
- Source object
- 202622269349301427
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